There are likely few members of TEI today who exhibited bravery when joining the Institute. When today’s leaders (at the chapter or Institute level) raise their hand and saying, “Yes, I’ll step forward,” they do this knowing they will benefit immensely — personally and professionally — from enthusiastic engagement in TEI. This is not to diminish my appreciation to the individuals who pay their dues or my gratitude for the hundreds of women and men who serve the Institute in a variety of roles in 2011. Rather, it is to draw a contrast with those who came before us — the 15 individuals who gathered in 1944 to form TEI and the countless members who in the early days of the Institute found the time — away from work, away from family, away from other commitments — to help a fledging organization known as Tax Executives Institute first become viable and then grow into the preeminent association of business tax professionals worldwide.
When I left government service in 1991 to join General Motors Canada, TEI was a well-established force in North America. The Toronto Chapter had been chartered in 1956, and it did not take enterprise or clairvoyance to see the value in becoming a member. It only took common sense. The low-cost, high-quality education, the unsurpassed networking, the ability to work collaboratively to improve tax law and administration — all these things were evident 20 years ago. I quickly learned, moreover, that as great an organization that TEI is to receive from, the sense of satisfaction and accomplishment you get from becoming involved and giving back is ever greater. That’s true whether you’re serving on a chapter committee, helping line up speakers for a seminar or conference, meeting with government officials as part of a TEI delegation, or picking up the phone to share insights with members you didn’t know until you met them at a TEI meeting.
TEI has been the single most rewarding professional association I have experienced, and I have enjoyed my participation in the organization immensely throughout my career. I count TEI members — in Toronto, yes, but around the world — among my very best friends, and cannot imagine being as effective a manager or tax professional without the assistance I’ve received from TEI and its members along the way. Hence, I feel privileged to have been installed as TEI’s International President at the Institute’s 2011 Annual Meeting of Members in August. I pledge my best efforts to enhance TEI’s effectiveness and to ensure that it remains a “must” for serious tax professionals employed in industry. One of the TEI members I’ve learned from for the past several years is my predecessor, Paul O’Connor of the New England Chapter. As Paul’s Senior Vice President, I had the opportunity to see first-hand the difference a single person can make. During his term, Paul made sure that TEI remained at the top of its game in terms of holding outstanding educational programs and expanding the Institute’s already extensive — and successful — advocacy program. Paul did more than that, however. Recognizing that while true leaders can and should pick their battles, they cannot run from the truth, Paul set the Institute on a path to ensure its future success. He created the Revenue Review Task Force, which was charged with analyzing the effect of the economic downturn on TEI operations, identifying challenges and potential solutions, and making recommendations for change.
I was honored to be asked by Paul to serve on the task force, along with Teri Wielenga of the Orange County Chapter, Mark Silbiger of the Cleveland Chapter, and Ray Gwydir of the New York Chapter. Last October, we presented our core finding — that TEI had a structural deficit that needed to be addressed — and the Board of Directors approved a recommendation that, as part of the solution, the Institute approve a modest dues increase. No one wanted to raise dues — especially since they had not been raised in two decades — but with Paul’s quiet but effective leadership, the Board acted decisively as part of its commitment to balance our revenue streams, our expenses, and the array of goods and services we provide to our members. We all owe Paul a debt of gratitude for not kicking the can down the road or burying our head in the sand. I owe him my personal thanks for his friendship and the wise counsel he has provided me.
The course that Paul O’Connor set us on last year was just a beginning, one that I was pleased to help chart, and one that TEI will — with the support of the full membership — continue this year. TEI has grown from one location in 1944 to fifty-six chapters and from 15 individuals to a global network of nearly 7,000 because it has remained sensitive to the evolving needs of both rising and seasoned tax executives. During the year, TEI will advance the advocacy, educational, and networking interests of its members by adhering to core values and addressing future needs.
Specifically, TEI has chartered two task forces to provide strategic focus to its operations and long-term plans. The first — our Vision 20/20 Task Force — will define the ideal TEI at the end of the decade and develop a strategic plan to ensure that the Institute remains the preeminent association of business tax professionals worldwide. This task force, facilitated by a strategic planning expert who specializes in the association community, will identify the needs, expectations, and requirements for active engagement of the Institute’s current and future membership.
Through focus groups, interviews, and a broad membership satisfaction survey, the task force will take a measure of the world in which tax executives work and identify what we are doing right, what aren’t we doing that we should be, and what should we be doing better. The task force will also recommend possible uses for the Institute’s newly defined Capital/Opportunity Fund and make recommendations to align our structure and operations with present and anticipated member aspirations.
You can help. I invite you to consider the following two questions:
- What are the key (one or two) trends you see affecting TEI or the tax profession over the next three to five years?
To submit your answers (while maintaining confidentiality), please visit TEI’s website and click on the link on the home page..(Your comments will go directly to our consultant.)
The second initiative — the Global Tax Advocacy Task Force — will recommend methods and strategies to monitor, engage with, and influence government organizations and regulators around the globe. In addition, the task force will address how TEI can best coordinate and manage advocacy on multi-jurisdictional issues, including tax treaties and transfer pricing.
In addition to these task forces, TEI’s committees and staff will focus on a number of other initiatives in support of TEI’s outstanding record of advocating for the interests of members and their employers, providing exceptional educational and networking opportunities for members, and managing TEI’s financial and human resources creatively, efficiently, and effectively.
For example, in respect of our stellar advocacy program, the Institute will continue its constructive engagement with tax authorities at all levels, seeking opportunities to expand our advocacy activities. We will also monitor and respond effectively to various governments’ transparency initiatives and undertake to ensure that transparency is and remains a two-way street. Finally, we will monitor developments and optimize TEI’s contribution to the tax reform debate in the United States and elsewhere.
TEI’s educational efforts will continue apace during the year. We will offer educational programs, locally and at the Institute level, that enable members to better serve their companies by enhancing both their technical knowledge and their ability to advise management and to represent their companies before government authorities and other external forums. In particular, we will leverage technology, most particularly TEI’s website, to share content from Institute educational programs with members at all levels and pursue other distance learning opportunities. We will also enhance TEI’s website so that members will be able to effectively and quickly access to our online library of materials, including The Tax Executive magazine. We will also evaluate the efficacy of establishing relationships with one or more educational institution to provide tax and management courses specifically relevant to in-house tax professionals.
TEI’s website will also play a critical role in expanding the networking opportunities afforded all members of the Institute. Thus, features and functionalities will be added to complement the inperson programs we provide for Chief Tax Officers at the Institute and local level. In addition, we will develop strategies to enhance our online discussion forms and to strengthen the connection between TEI and its new and younger members. Last but not least, TEI will conduct a corporate tax department survey in order to share benchmarking information with members.
Finally, TEI will work to implement the recommendations of the Revenue Review Task Force relating to developing long-term financial forecasts, revising TEI’s investment policy, and refining TEI’s Financial Statements. We will also consider possible new and enhanced sources of revenue, including advertising, subscriptions, and royalties.
In every submission that TEI files, the Institute refers to itself as the preeminent association of business tax professionals worldwide. That statement is absolutely true. Through our efforts this coming year, we will ensure it remains true. I ask your support and assistance in our endeavors.