Version 1.1 (DRAFT)

To establish clear guidelines for how Medicine Forward’s funds are allocated, ensuring transparency, fairness, and alignment with organizational priorities.

• The Executive Team has the authority to spend up to $1,000 on a single expense without consulting other stakeholders.
• Individual Executive Team members can approve expenses up to $250 without additional approval. This includes regular operational costs such as:
  • Software subscriptions (e.g., Squarespace, Zoom, Mighty Networks, Acuity Scheduling).
  • Administrative tools and services directly supporting Medicine Forward’s operations.

• Funds raised for specific projects, such as the NYC Burnout Symposium Workshop, will be used to support the goals and needs of that project.
• The primary aim is to maximize impact and ensure fairness in how the funds are used.
• Before completion of the project, project-specific funds should not be redirected to other Medicine Forward initiatives unless they directly contribute to the success of the funded project.
• Any remaining funds or additional contributions may be used for unexpected expenses related to the project or allocated to future projects that align directly with Medicine Forward's mission.

• For expenses exceeding $1,000, a written proposal must be created either by the Executive Team or a designated member.
• The proposal should outline:
  • The purpose and justification for the expenditure.
  • Expected benefits and alignment with Medicine Forward’s goals.
• This proposal will first be reviewed internally by the Executive Team.
• After internal review, the proposal will be shared with the 501c3 Board for transparency and consultative feedback.
• Final decisions will rest with the Executive Team, incorporating feedback from the relevant stakeholders when possible.

• Spending will be tracked and available for auditing and creating financial reports. Audits and reports can be requested by anyone on the 501c3 Board.
• The 501c3 Board should be notified of new purchases, especially new recurring subscriptions like Acuity, at the next available team meeting.

• No deficit spending. Verify funds are available and within budget before spending.

In line with practices from Reinventing Organizations, Medicine Forward will utilize the advice process for key spending decisions:

• Definition: The advice process is a decision-making approach where individuals or teams seek input from those who will be affected by the decision or who hold expertise in the relevant area before making a final decision.
• Application: When spending decisions require broader consideration (e.g., expenses above $1,000 or complex resource allocation), the Executive Team will consult with both the 501c3 Board and other relevant stakeholders through this process. This ensures that decisions are well-informed and reflective of diverse perspectives.

Last accepted by Traction Team 10/21/24 version 1.0