Administrative Services — Operational

Financial Council

To build a best-in-class financial governance framework that ensures transparency, compliance, and long-term financial sustainability, empowering JAINA and its affiliated organizations to operate with integrity, efficiency, and strategic foresight.

Core Mission

To ensure strong financial governance, regulatory compliance, and transparency within JAINA by establishing robust systems, policies, and processes that support accountability, sustainability, and informed decision-making.

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Charter & Responsibilities

The Committee is responsible for developing, implementing, and overseeing financial and compliance frameworks across JAINA and its affiliated bodies — including YJA, YJP, and bi-annual conventions.

Regulatory Compliance

Develop and maintain a compliance calendar to ensure timely filing of IRS Form 990 by May 15 following the fiscal year-end.

Audit Oversight

Per By-Laws Section 7(m), establish and monitor a timeline ensuring completion of the annual audit within one year of tax filing.

Financial Policy Development

Create and standardize financial policies for JAINA, YJA, YJP, and bi-annual conventions to ensure consistency and accountability.

Authorization & Controls

Develop and implement an authorization matrix governing disbursement of funds to ensure proper financial controls.

Financial Systems Enhancement

Review the existing QuickBooks Chart of Accounts and recommend improvements to enhance clarity, tracking, and reporting.

Reporting & Analytics

Design and customize QuickBooks-generated reports to enable detailed financial reporting by committees, projects, and organizational activities.

Investment Management

Oversee the investment of surplus funds with a balanced focus on capital preservation and optimal returns.

Records Management & Security

Organize historical financial records in a systematic manner and ensure secure and controlled access to all documentation.

Best Practices & Governance

Establish and promote a best-in-class financial compliance environment aligned with industry standards and nonprofit governance principles.

Committee Description

The JAINA Finance Council is committed to strengthening financial governance, transparency, compliance, and long-term sustainability across JAINA and its affiliated organizations. The Council supports JAINA’s mission by establishing sound financial policies, enhancing reporting systems, and promoting strong internal controls for JAINA, Young Jains of America (YJA), Young Jain Professionals (YJP), and JAINA Conventions.

The Council’s key responsibilities include ensuring timely filing of IRS tax returns, coordinating annual audits and reviews, maintaining compliance standards, and developing clear guidelines for financial disbursements and expense management. It also focuses on improving the reporting capabilities of accounting systems to provide committees and leadership with meaningful and timely financial insights.

In addition, the Finance Council oversees prudent investment of surplus funds, organization and preservation of historical financial records, and implementation of best-in-class financial and compliance practices. Through these efforts, the Council aims to build a strong and transparent financial foundation that supports JAINA’s continued growth and its mission of serving the Jain community across North America.