Associations must carefully manage their finances to ensure they meet their mission-driven goals while maintaining financial stability. After all it can determine how much spending the association has annually for events, staff, marketing, and other key expenses for growth and membership value. Checking bank balances is an important [...]
In the ever-evolving landscape of association management, maintaining financial stability is not just a goal but a necessity. Reserve funds or accumulated surpluses represent more than mere financial safety nets; they embody potential avenues for significant member-centric growth and development. For association leaders, the judicious deployment of these funds [...]
The association’s long-time executive director who managed every aspect of the professional association, is leaving and to fulfill this role, the association’s Board of Directors has hired an association management company (AMC). But what does this mean? How will it benefit membership? And will it be expensive? Just a [...]
Welcome back to part two of The Association Coordinator – A Vital Role. Association coordinators play a pivotal role in the success and smooth functioning of various organizations, be it professional associations, non-profits, or industry groups. Their responsibilities range from managing memberships to organizing events, ensuring effective communications, and [...]
Difficult people are everywhere. Despite one’s best efforts some people are never pleased. But when they are exhibitors at an association event or tradeshow how can they be transitioned from difficult to champion? Practicing the art of WOO or Winning Others Over can help move difficult exhibitors to enthusiastic [...]
It’s a New Year with new opportunities for your association. One of the key elements of a successful association is understanding your current budgets and cashflows. Here are some tips on how to effectively conduct a financial audit for your association. An Effective Financial Audit Having the capability to [...]
As an association, it’s important to stay relevant, innovative, and invested in the future of our industry. Hiring interns can help an association do just that by helping to bring in a fresh new perspective, provide additional staffing resources, and increase productivity. It also enables the intern to get [...]
Budgets and cashflow analysis are important management tools to allow an association to properly manage their performance, allowing them to plan and make informed decisions relating to planning, resource allocations and funding requirements. Preparing budgets and cashflow forecasts can give you a more realistic measure of where your association [...]
In today's world, we rely on technology, software, and automation for a lot of our work. It is no different in the association world, and the need for the right software is paramount in how an association is functioning. Software is essential to an accounting department's efficiency, speed of [...]
Association management has two primary areas of accounting that are highly important: financial and managerial accounting. It is important that association leaders must be familiar with both. Most association accounting tasks fall into one of the two categories, and although the two disciplines have a lot in common, they [...]
