You have been nominated and are now a newly appointed board member. You were either recruited for your skillset or you volunteered for this position because you have a passionate desire to make an impact in your field. Now it’s time to learn how to effectively contribute and see [...]
So, you have volunteered to become an association board leader, but what responsibilities does this position entail? Specifically, overseeing the financials can be a barrier to a fully engaged board. Some may feel uncomfortable reviewing financial information and providing the required oversight to the financial affairs of an association. [...]
Cash flow is an important concept for association staff, volunteers, and leaders to understand especially for small or medium sized associations. A previous article I wrote discusses what cash flow is and how it differs from profit on an income statement. It also includes some ideas to improve cash [...]
This article will summarize what a non-profit association should know when registering for Québec Sales Tax (QST) after hosting events in Québec. Events Held in Québec If your association is hosting an event in Québec, it must collect 14.975% QST even if you are not required to collect GST/HST. Even [...]
Ethical behaviour means acting in ways that are consistent with behaviours that society, individuals, and businesses have deemed to be “proper” or “correct.” Good values involve demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity, and individual rights[1]. The most important influence on ethical values [...]
Many associations have been forced to cancel in-person professional development meetings and/or trade shows because of the COVID-19 pandemic, as described in my colleagues' recent article Association Trade Shows Gone Virtual. The cancellation of these events both reduces the value of association membership and threatens some association’s financial sustainability. Virtual [...]
These are unprecedented times that most of us we are living in right now. With the COVID-19 pandemic, financial hardship is undoubtedly a concern for many associations. I have put together a few tips to make sure your association are doing all it can do to manage finances in [...]
It’s no secret that budgeting is a vital part of running a successful association. Often it can seem like an overwhelming task, but it doesn’t need to be complicated. With effective budgeting, you will be able to ensure your association is set up for long term viability by focusing [...]
There are many challenges in managing an association. Especially a small one that doesn't have endless resources or a need for numerous full-time staff members. For a small association in particular, the accounting most likely does not require the work of a full-time accountant. However, it's still important to [...]
One of the things I have noticed in my experience as an accounting manager is that when it comes to association finances, in many cases the only people familiar with them are the finance staff and board members. Most of the time this is because that is how it’s [...]
