Finance Committee Member

Overview

Family & Youth Initiative (DCFYI) helps older children (12 to 21) in foster care find adoptive families and make lifelong connections with caring adults.

DCFYI focuses solely on helping teens at risk of aging out of foster care find adoptive families and develop lasting relationships with other caring adults. We are unique in that we offer opportunities for adults who are not yet approved to adopt or mentor to meet and get to know teens so that relationships can grow naturally, which is a much more effective way for adults and teens to get to know each other and get comfortable before any formal mentor or adoption match is made.

We are one of very few organizations that create low barrier ways for adults to get to know and help teens in foster care. We encourage creative responses to the needs of individual teens and abilities and availability of interested adults.

Family and Youth Initiative, Inc. in Washington, D.C. (FYI/DCFYI) is a nonprofit organization that connects teens in foster care and young adults who aged out of foster care with adults who become their support community and develop long-lasting, reliable relationships. Our mission is to ensure that program participants have adults to rely on long-term for advice, guidance, affection, and a sense of belonging.

The Board's Finance Committee has an essential role in ensuring that the Board meets its fiduciary and financial obligations for sustaining the organization.

• Ensures that complete, accurate financial records are maintained and monitors those reports
• Reviews annual budget and recommends approval to full Board of Directors (Board)
• Communicates organization's financial status to the full Board and makes sure the full Board understands the financial picture
• Ensures compliance with local, state and federal regulations governing nonprofit financial reporting
• Protects organization's financial assets and makes sure that any investments are wisely managed

Meetings are held at least quarterly on a schedule determined by the members of the committee. Since the Finance Committee makes recommendations about the organization's budgeting and financial health, it may meet more frequently when the budget is being prepared and reviewed.

The committee submits reports to the Board for its bi-monthly meetings (6x/year).