Finance Subcommittee

What We Do

The Finance Subcommittee is responsible for devising LLI’s annual budget, recommending fees for members and nonmembers, and allocating funds to Bard. The committee also develops long-range financial plans.

Key Tasks

  • Review or establish member fees and nonmember fees annually.  Recommend increases, as indicated.
  • Recommend allocation of funds to LLI operations, gifts to Bard College, Bard Student scholarships, or other special expenditures (e.g., consultants for specialized tasks for which no LLI member is available).
  • Engage in long-range financial planning. 
  • Investigate alternative new income sources (e.g., member contributions, grants, legacy).
  • Consider other finance issues, policies or practices identified by the subcommittee.

Required Coordination

The Finance Committee develops recommendations and submits them to the Planning and Evaluation and LLI Council for review and approval. The President and Finance Committee explore possible gifts with various Bard departments. The Finance Committee solicits information or advice from other committees, as needed. The Treasurer requests all committees provide budget needs in the spring to inform the annual budget development process.

Time Commitment / Duration

  • This committee meets quarterly or more frequently, if needed.
  • Fees for programs and membership must be decided each year before fall, spring and summer catalogs are produced.
  • The annual LLI budget is developed in the spring and must be approved by the membership at the annual meeting, which is held in May.

Special Skills

  • Helpful, but not required: Familiarity with budgets, nonprofit fundraising, financial planning and projections, Excel, and alternative funding sources (e.g., legacy gifts, grants)

  • Creative thinking about how LLI can build financial stability, while also making meaningful contributions to Bard College and students.

Build LLI financial stability

In addition to LLI financial stability, this committee makes meaningful contributions to Bard College and students.