Your APRO leadership is working hard to deliver even more, even better benefits to help members like you win, win, win
OK, we realize the title of this article might seem a little, well, self-aggrandizing?
But hang with us – because APRO leadership spent a couple of workdays full of toil and introspection, living up to its dictum (albeit old duty) for APRO: America’s Champion for Rent-To-Own. Board members kicked off their meeting with an overview of 2021 from APRO Executive Director Jill McClure [see “APRO 2021 By the Numbers”], worked on the association’s newly launched three-year Strategic Plan and its related goals, and received some fairly intense board-member training – which led to the aforementioned introspection and some subsequent retooling of the Strategic Plan and its key goals.
We don’t know whether it will [it will] rock you, but read on to see how the APRO board is getting better, thinking bigger, and refocusing on how to bring you even greater benefits.
Board Member, as it turns out, isn’t just a figurehead position. It’s actually kind of a big deal, full of responsibilities, roles, and rules.
If you’re interested in becoming a board member for APRO [or any other organization], here’s a quick-and-dirty Top Ten List of Stuff Board Members Should Know:
- APRO is a 501(c)(6) organization, incorporated in Texas – so its directors must know and follow Texas state laws for a not-for-profit corporation.
- As a board member, you are a fiduciary or trustee of the corporation. As such, your name is provided to the Internal Revenue Service, which holds organizations like APRO – which are exempt from paying federal income tax – to a mighty high standard.
- Fiduciaries are required to practice Duty of Care, Duty of Loyalty, and Duty of Obedience.
- Duty of Care means you come to board meetings well-prepared, having read the board information packet in advance.
- Duty of Loyalty means you come to your board work representing the best interests of APRO’s 350 member companies – not your company’s interests nor your own. You are there to advance the mission of the organization, period.
- Duty of Obedience means you’re familiar with and will follow the organization’s governing documents, like the bylaws.
4. Read and ensure you understand the bylaws of the organization. As a trade association, APRO’s bylaws include important guidance on antitrust avoidance (a $10 million violation penalty!), conflicts-of-interest disclosure, and confidentiality policy.
5. Respect and honor the confidentiality of the board. From gavel to gavel, board meetings are corporate meetings, and should be treated with the utmost confidentiality.
6. Respect and support the decisions of the board. You should express your thoughts within board meetings, but once a vote is taken, directors support whatever the outcome is.
7. Board committees are not autonomous. Their authority comes from the board and the bylaws, so they may make recommendations to the board, but do not have the power to make decisions for the board or the organization.
8. The board governs; the staff manages. Board members must maintain a “50,000-foot view” – providing sophisticated problem-solving for its members to help grow their businesses, develop industry leadership, optimize the association, and, in our case, celebrate APRO and rent-to-own.
9. Other assorted things you should know as a board member: all things financial about your organization; indemnification policy; insurance coverages [especially Directors & Officers coverage!]; Robert’s Rules of Order.
10. Evaluate yourself as a board on the reg. Are you advancing the organization’s mission? How are you serving the members? Are you aligned with your performance measures? As industry leaders, APRO board members are charged with creating a national trade association that is robust and sustainable – so they must think big and reach high!
With this greater vision in mind, the APRO Board of Directors revisited the association’s Strategic Plan, its goals, and its strategies. While still a work in progress, this is how the three-year plan is shaping up, with an eye toward boosting and building up the organization so that APRO can deliver greater value to its membership – i.e., you!
Smart Goal: Advocacy
Protect Against Adverse Legislation
Government Relations Committee Members:
- Matt Grynwald, Rent-A-Center Inc. [Chair]
- Michael Bennett, Buddy’s Home Furnishings
- David P. David, Full-O-Pep Appliances Inc., dba American Rental
- Rachel George, Aaron’s, LLC.
- David Harrison, Rental Concepts LLC, dba RNR Tire Express
- Christine Hesse, PROG Holdings, Inc.
- Ed Winn III, APRO General Counsel
APRO will use its power as the voice of the rent-to-own industry to ensure no state or federal legislation passes that might adversely affect the RTO transaction.
Strategies
- Legislative Monitoring: Continue daily monitoring of both federal and state-proposed bills, and alerting membership as necessary.
- Proactive Advocacy & Education: Continue these efforts for the industry, public, media, and decisionmakers.
- APRO’s Code of Ethics: Maintain these values so that they remain top-of-mind and become deep-seated tenets for rental dealers.
- Industry Standards: Serve as the arbiter of rent-to-own norms, ideals, benchmarks, and best practices.
Smart Goal: Value
Optimize APRO Membership
Membership Committee Members:
- Trent Agin, SKC Enterprises Inc., dba Rent One [Chair]
- Michael Helton, CPA, Rivero, Gordimer & Company PA
- Shirin Kanji, Impact RTO Holdings, dba Rent-A-Center
- Adam Sutton, RNR Tire Express
APRO will engage and expand association membership by delivering continuously improving value to its members.
Strategies
- Industry Data: Deliver vital industry data members can use for business benchmarking, improvement, and growth.
- Member Education: Remain the industry’s main conduit for webinars, workshops, presentations, and industry information and insights.
- Industry Content: Continue to create and provide multi-channel content that edifies the industry and the public about rent-to-own.
- Legal Hotline: Maintain the role as the industry’s legal headquarters to help keep member companies and the industry overall free of legal trouble.
- Benefits Development: Create and develop new benefits to help members run their businesses with increasing efficiency, efficacy, and success.
Smart Goal: Virtual RTOs
Work Together Toward Common Goals
VRTO Workgroup Members:
- Bryan Pechersky, Rent-A-Center Inc.
- Chad Fosdick, CR Fosdick Ent. Inc., dba Premier Rental-Purchase
- Rachel George, Aaron’s, LLC.
- Chris Kale, Sr., CPL Group Inc., dba Rent King
- Edward L. Winn III, APRO General Counsel
APRO will collaborate with virtual rent-to-own businesses [VRTOs] on shared objectives.
Strategies
Dialogue & Collaboration: Develop and implement a strategy and process for initiating positive interactions between APRO leaders and VRTOs.
- Shared Objectives: Identify and define common goals between traditional RTOs and VRTOs that will advance the association’s legislative work.
Smart Goal: State Network
Advance State Associations
State Association Coordination Committee Members:
- Dennis Adams, Full-O-Pep Appliances Inc., dba American Rental
- Phillip Bumbry, Mid-Atlantic Wolfpack, dba Aaron’s Sales & Lease
- Mark Connelly, Arona Corp., dba Arona Home Essentials
- Bill French, O’Rourke Sales Company
APRO will strengthen, support, and advance the nationwide network of state rent-to-own associations.
Strategies
- Strength & Support: Continue providing and developing state association services, so that state organizations can concentrate on grassroots advocacy and community outreach.
- Legislative Monitoring: Continue daily monitoring of state-proposed bills, alerting and coordinating with state associations as necessary.
- Revival & Reactivation: Work with RTO businesses in states with inactive or dormant state associations – especially those with a demonstrated need – to revitalize those organizations.
- Chapter Pilot Program: Establish an APRO State Chapter template that provides constistent, replicable structure for state leaders.
Smart Goal: Resources
Diversify & Grow Resources
Finance Committee Members:
- Terah Vail Munstermann, Best Tire Concepts LLC, dba RNR Tire Express [Chair]
- Michael Bennett, Buddy’s Home Furnishings
- David P. David, Full-O-Pep Appliances Inc., dba American Rental
- David Harrison, Rental Concepts LLC, dba RNR Tire Express
- Jonathan Rose, RNR of Virginia
APRO will diversify and grow rent-to-own leaders and revenue in order to fulfill the association’s mission.
Strategies
- Resource Stewardship: Serve as exceptional stewards for APRO and all its human, historical, informational, and financial resources.
- Leadership Development: Establish a pipeline of RTO thought leaders for the future, with special consideration to the state associations.
- Vendor Connection: Connect industry vendors with the association via membership, events, and the APRO media channels.
APRO 2021 By the Numbers
4 Webinars hosted – topics included DOL Employment Guidance & Cybersecurity
18 APRO Alerts issued – topics included New Bankruptcy Code Bill & Price Tag Issues
1st Virtual Legislative Conference held – 143 attendees representing 19 states
25 Member Surveys conducted – tracking industry insights and member satisfaction
696 attendees, 90 exhibitor/sponsor companies returned to live RTO World!
2021 Industry Health Survey sent and replied to – results included:
RTO Industry Keep Rate = 33.4%
Total Annual US Wages Paid = $1.82B
Total US RTO Full-Time Employees = 41,900
US Households that Used RTO in 2020 = 4%
Kristen Card has been a contributing writer for RTOHQ: The Magazine for more than 15 years.
