The two-day HIACon conference that was planned for November 28th and 29th in Austin has been replaced with a Virtual Annual General Meeting of the Members on November 28th at 2PM ET.
The purpose of an Annual General Meeting (AGM) for a nonprofit trade association like ours is to provide a formal platform for members to gather each year. Due to COVID, this is the first in-person AGM that the association has held in three years. During the AGM, the following key objectives are typically addressed:
- **Reporting and Transparency:** The leadership, meaning the board of directors, presents reports on the association’s activities, financial performance, and accomplishments over the preceding year. This fosters transparency and accountability by giving members the information they need to understand their association’s fiscal position.
- **Election of Leadership:** Often, members may have the opportunity to elect or re-elect board members —however their are no open seats for 2023, so there will be no election. This ensures that the association’s leadership aligns with the collective interests of its members.
- **Financial Matters:** The financial statements, including income and expenditure reports, may be discussed and approved. Members can gain insight into the financial health of the association and its ability to carry out its mission.
- **Policy and Bylaws:** Proposed changes to the association’s bylaws or policies may be presented and voted upon. AGMs allow members to participate in shaping the governing rules and direction of the association.
- **Strategic Planning:** High-level strategic plans and goals for the upcoming year may be presented and discussed. Members can provide input and feedback on the association’s future direction.
- **Member Engagement:** AGMs provide an opportunity for members to engage with each other, share experiences, and network. It fosters a sense of community among members.
- **Compliance:** Compliance with legal and regulatory requirements is often reviewed to ensure the association operates within the law.
Overall, an AGM serves as a crucial forum for nonprofit trade associations to maintain transparency, accountability, and member involvement in the governance and decision-making processes, ultimately furthering the association’s mission and objectives.
The 2023 Hemp Industries Association Annual General Meeting will be held virtually on November 28th, 2023 at 2PM ET. RSVP today to reserve your spot.