Financial Operations

IEEE offers many resources for financial tools and services. Learn more about:

 

Concentration Banking Program

The Concentration Banking Program offers IEEE organizational units and conferences a bank account with no monthly fees, unlimited check writing privileges, and no minimum balance requirements.  The unit or conference treasurer controls the account activity by writing checks and making deposits.  Each treasurer receives their own checkbook and sends their deposits directly to the bank.

Learn more about the IEEE Concentration Banking Program on IEEE.org

Conference Audit Services

In conjunction with the IEEE Conference Services Department, the IEEE Operations Audit Department (OA) has developed a budgeting tool and a standard chart of accounts for use by conference planners in preparing conference budgets and keeping track of conference income and expenses in QuickBooks Pro, respectively. OA has also developed a conference final financial report form in Excel that is linked to the reports generated by QuickBooks Pro, making the preparation of conference final financial reports virtually automatic. At your request, the Conference Services Department will provide you the budgeting tool, the chart of accounts, the Excel files for the final financial reports, and the associated instructions for the use of these tools. 

In addition, the IEEE Conference Management Services Department can provide you a full menu of services in support of your conferences at very competitive fees.

The IEEE Operations Audit Department is prepared to audit your conference financial statements and provide you an excellent rate for this service. All conferences with budgeted/actual revenues/expenses of US$100,000 or more are required to have an audit of their financial statements by a professional independent outside source. Conferences with revenues of less than US$100,000 will be audited on a rotational basis. In either case, the audit can be arranged by the IEEE Audit Department, or you may deal directly with an outside source.

E-mail the IEEE Operations Audit Department with questions.

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Contract assistance

If your section or chapter is planning a major meeting or conference which involves a contract with a hotel for sleeping rooms, function space, and meals, take advantage of the expertise available at IEEE.

Your contract will be reviewed for items which might increase your section's liability beyond an acceptable level (e.g., Did you commit to too large a room block?  Is your guarantee for food and beverage realistic?  Are the penalties the hotel can impose fair?).  A knowledgeable review can save your section from potential problems.

Contracts in excess of US$25,000 must be reviewed by the IEEE Procurement Department.  IEEE units may negotiate contracts with a value of US$25,000 or above, but should not give final approval or "execute" contracts.  Visit IEEE Contract Management for more information. 

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IEEE Financial Advantage Program

The IEEE Financial Advantage Program (FAP) is a complete package of resources and benefit opportunities available exclusively to IEEE members and their families.  It allows access to insurance plans, investment programs, credit cards, business and home services, and much more.  Presently, your access to various components of the program depends upon where you live.  Efforts are underway to extend access to as much of the program as possible to as many IEEE members as possible.  Watch IEEE Spectrum, The Institute, and the FAP Web page for updates about the program.

The benefits of the IEEE FAP are so competitive that it is worth being an IEEE member just to have access to them.  The program should be featured in any membership development project your section undertakes.

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Section Rebate Program

This program provides added incentive for sections to submit required reporting in a timely manner by offering substantial financial rebates.

Eligibility for benefits – which include an annual allowance, per capita membership rebates, chapter rebates, affinity group rebates, subsection rebates, activity bonus, and a ten percent bonus for reporting by the February deadline – is based on officer, financial, and meeting activity reporting.

Learn more about IEEE Geographic Unit Required Reporting and Rebates

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Society Chapter Funding Guide

The Society Chapter Funding Guide details the dissemination of available funds and other support from the technical societies for their chapters.  The information comes directly from the societies, and is intended to provide a general idea of each society's support and application of funding, speakers programs, travel subsidy, etc...

E-mail the IEEE Technical Activities Society Chapter Coordinator for additional information on any societies’ activities.

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IEEE Travel Services

IEEE Travel Services is available to you 24 hours a day, 7 days a week.

IEEE Travel goes the extra miles for you.  Backed by the buying power of IEEE, IEEE Travel Services has exclusive rates with preferred vendors, including:

  • Continental;
  • United;
  • American Airlines;
  • Avis;
  • Budget;
  • Enterprise;
  • Hertz Rental Cars.
The travel team also offers substantial benefits with other carriers and discounts off hotels worldwide.

They offer an online booking option, 24 hours a day, 7 days a week, so you can search availability, pricing, select your seat, and complete your booking without ever placing a call.  A detailed itinerary summarizing your purchase will be sent to you within 24 hours of booking.

Other services available through IEEE Travel are Visa and Passport Service, Travel Protection Insurance, Internet Fare Searches, and much more.  To obtain your member discounts, travel arrangements must be made through IEEE Travel Services.

In most cases, IEEE Travel Services beats prices available through other services.  Find out how they can help you get where you need to be.

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