The Equipment Leasing and Finance Association is a volunteer driven organization and ELFA’s governance and policy direction is reliant on active member participation. 

In addition to the governance structure as outlined in the Association by-laws, the Board of Directors has formed various committees to address certain issues, topics or functions in the equipment finance industry and its Association. Such issues as legislation, accounting standards, civil and commercial law and others require analysis, policy development and suggestions as to ELFA strategy.  Several committees also deal with internal operations of the Association, such as membership, nominations, and educational programs. Committees are organized to reflect the interests of a particular constituency of members, type of asset or market sector. The committees’ composition reflects expertise in a certain product, function, or market area, and the members provide expertise to the ELFA staff for developing policy and programs.

A committee may refer to one of the following group types:

• Board committee—a committee established by the Board of Directors whose activities are mandated and are overseen by the Board
• Business Council Steering Committee--the fundamental membership segmentation that represents a particular constituency within the ELFA
• Standing committee—addresses or develops ongoing industry policy, and represents specific functional operations with member companies
• Planning committee—exists exclusively to help plan conferences or other live events offered by the Association
• Task force—temporary ad hoc body that addresses a specific Association-related matter

Professional Staff Management

The professional staff management of the Association implements the programs and services of ELFA within an adopted strategic plan.  The staff also provides the support for the committees and manages implementation of decisions.

Each committee has a staff member assigned as the liaison.  However, committees often will find themselves working with several staff members.

Formation of Committees

The ELFA Board of Directors establishes committees to execute the strategic plan of the Association.  The strategic plan is approved annually by the Board of Directors as part of the planning and budget process.  The scope of work, responsibility and authority are spelled out at the time of implementation.  The establishment of new committees or change in the charter of a committee is subject to approval by the Board of Directors.

Standing and planning committee Chairs and members are appointed by the ELFA president, who may delegate this authority to staff.  The president solicits recommendations from the other officers, directors and committee Chairs in filling vacancies.  Individuals are appointed for one year and may be reappointed, depending on the committee.  The size of most committees is typically 12 - 20 members.

Chairs of the Business Council Steering Committees are appointed as stated in the relevant section.