Legacy Preservation Strategy for the Alliance College Alumni Association

The Alliance College Alumni Association (ACAA) was established to preserve the legacy and archives of Alliance College, foster relationships among alumni, and provide support to various initiatives. As the association plans for a future transition, it is essential to develop a legacy preservation strategy that maintains its values, ensures responsible asset management, and honors the rich history of Alliance College.

This document outlines a transition strategy for the ACAA, to be reviewed annually, focused on ensuring legal compliance, maintaining alumni relations, responsibly managing finances, preserving the college’s legacy, and transparent communication with all stakeholders.

1. Objectives of the Strategy

The primary objectives of the legacy preservation strategy are:

Preserving the Legacy: To ensure the history, spirit, and contributions of Alliance College are honored for future generations.
Asset Distribution: To manage and distribute any remaining funds, memorabilia, or assets of the association.
Continued Support for Alumni: To provide alumni with resources for ongoing networking and support, even after the dissolution or transition of the association.
Final Reporting and Transparency: To maintain transparency throughout the process, ensure that members and stakeholders are well-informed.

2. Process Overview

Begin with an assessment of “Current State” at the time the board determines an exit is required.

The current state triggering the implementation of the legacy preservation process will be:

ACAA revenue cannot support the total forecasted Association costs for a minimum of three years.
During annual meeting, ACAA will review alumni engagement level, and the fiscal health of organization to determine the sustainability of the organization.
A fully functioning board of directors is in place.

2.1 Membership and Engagement

Active Members: Document the total number of active members.
Engagement Levels: Evaluate recent participation in events, meetings, and communications and recruitment of new and inactive alumni.
Demographics: Understand the age distribution and geographic locations of members.

2.2 Financial Status

Review of all financial information, including:

Assets: List all assets, including bank accounts, investments, property, and memorabilia.
Liabilities: Identify outstanding debts, obligations, and recurring expenses.
Revenue Streams: Assess any incoming funds from dues, donations, or events.

2.3 Legal Status

Incorporation Details: Confirm the association’s legal structure and incorporation state.
- We were incorporated in 2002. We are considered a nonprofit corporation.
Tax-Exempt Status: Verify IRS designation and compliance requirements.
- We are investigating whether we can become tax-exempt.
Bylaws and Governance: Review governing documents for dissolution procedures, which we will be creating.

2.4 Commitments and Obligations

Scheduled Events: Note any planned reunions, meetings, or programs.
- List of board meetings and reunions
Contracts: Identify existing agreements with vendors, venues, or service providers.

A. Preservation of Legacy

To honor the memory of Alliance College and ensure that future generations can appreciate its impact:

Digital Archive Creation: Collaborate with a reputable organization or museum, such as the museum in Cambridge Springs, through alum Lori Neese Kolin to create a digital archive of photos, documents, and memorabilia that Alumni can access and contribute to over time.
The Tontine – The original intent for the Tontine was to present it to the last surviving alumni. The Association deemed this a noble but impossible task to conduct so it will be consumed at the final reunion or official ACAA event.
Memorial Website: Convert the current website into an online memorial for the college, featuring alumni stories, historical timelines, and key events. This website could be managed by a local historical society or by an external hosting service in perpetuity.

B. Financial Asset Management

Foundation Scholarship Funds: See what Foundations, including our own, exist to disperse the funds for scholarships to students related to alumni or who are pursuing a degree or some courses that would enrich the spirit, knowledge, and understanding of the Polish Heritage
Donations to Related Organizations: Allocate any remaining funds to local educational or cultural institutions that align with Alliance College’s mission.
Final Budget and Accounting: Engage an externally certified accountant to ensure that all financial obligations (taxes, debts, etc.) are settled before any distribution of assets. Provide a detailed report to all association members for transparency.

C. Alumni Communication & Support

Announce the dissolution process on all media and communication channels.

Final Alumni Reunion Event: Host a final alumni reunion or celebration event, allowing members to reconnect and say farewell to the association.
Alumni Networking Directory: Create a contact directory of alumni who wish to remain in touch, either through LinkedIn groups or an alumni association Facebook page.
Email Newsletters & Social Media Groups: Encourage alumni to stay connected through digital platforms, such as email newsletters and LinkedIn or Facebook groups dedicated to Alliance College graduates.

D. Legal and Compliance Obligations

Ensure compliance with all legal requirements related to the dissolution of the association:

Board of Directors Decision: Formalize the decision to dissolve or transition the association by vote, ensuring that all board members agree and that the decision is properly documented in the meeting minutes.
State & Federal Filings: File the necessary paperwork to dissolve the association with the state where it is incorporated. Notify the IRS and any other relevant government entities.
Legal Consultation: Consult with a lawyer to ensure all legal obligations (including tax obligations, contract terminations, and other liabilities) are fulfilled.

3. Implementation Timeline

Create a checklist of the tasks to be executed prior to dissolution of the ACAA.

Task		Responsibility
Formal Board Vote to Dissolve/Transition		Board of Directors
Communication to Members		Membership Committee
Final Budget Review & Financial Reporting		Treasurer/Accountant
Memorial Website and Digital Archive Setup		Website Committee
Scholarship Fund Setup		Foundation or Scholarship Committee
Legal Filings for Dissolution		Legal Counsel/Secretary
Final Alumni Reunion Event		Reunion Committee

4. Communication Plan

It is essential to communicate the withdrawal plan transparently to all alumni and stakeholders. The following steps outline how we might ensure that all parties are well informed:

Email Announcement: Send a formal email to all alumni association members, explaining the decision to dissolve or transition, along with the reasons and the plan going forward.
Alumni Newsletter: Feature the withdrawal plan in the final alumni newsletter, providing details about the legacy initiatives, financial decisions, and final events.
Zoom Meeting for all alumni – Schedule a Zoom meeting, open to all alumni, where details of the withdrawal plan are shared, and listen to feedback and suggestions from our fellow alumni.
Social Media Posts: Utilize social media platforms to keep the alumni community informed and provide updates on noteworthy events, such as the final reunion or time capsule project.
Website Update: Post an official announcement on the association’s website, including FAQs about the exit strategy and how alumni can stay connected after the transition.

5. Financial Distribution Plan

The ACAA will distribute remaining financial resources as follows:

Alumni Legacy Projects: Once the operational closure costs are covered the remainder will fund the creation of the memorial website.
Operational Closure Costs: Once closure costs are determined, funds will be reserved for closing costs, including final legal fees, accounting services, and event planning.

6. Final Reporting and Closure

Upon the completion of the exit process, the following actions will be taken:

Final Report to Members: A comprehensive report will be sent to all association members, detailing the financial distribution, key decisions, and legacy projects.
Dissolution of Legal Entity: The legal dissolution of the ACAA will be officially filed, and all outstanding obligations settled.
Archival of Documents: All relevant documents, including meeting minutes, legal filings, and financial reports, will be archived digitally, and stored with the memorial website for historical purposes.

7. Conclusion

The Alliance College Alumni Association’s Legacy preservation strategy reflects its commitment to preserving the archive of Alliance College and supporting its alumni. By responsibly managing financial resources, ensuring transparency, and creating lasting memorials, we aim to honor the college’s history and maintain its spirit for generations to come.

As a board, we would then have to create a timeline to complete all the above tasks.

This document is to be reviewed and updated by the board of directors on an annual basis.

Version: _________________________ Date: ________________________________

President: ________________________________________

Vice President: ___________________________________

Treasurer: _______________________________________

Secretary: _______________________________________

Director: ________________________________________