Association Management Blog

The Most Important Things to Consider When Creating Your Association’s Annual Budget

Posted by Tim Naughton on 12/12/16 11:59 AM


The budget: The lifeblood of any organization.

Nonprofit and for-profit organizations wrestle continually with maintaining and improving their overall operations. Regardless of tax status, organizations must constantly strive for sustainability while keeping the mission in mind.

Budgets should be a major part of every organization's plan. The budget is the realistic financial blueprint for the manifestation of an organization’s mission and goals. A well-planned budget will focus on the primary goals and objectives of the organization and provide financial and programmatic adaptability— key ingredients to maximize sustainability – for both the short and long terms.

Read More

Topics: Association Management, Management, Finance, Budgeting

Changing Your Address or Responsible Party Could Get You in Hot Water with the IRS

Posted by Tom Pappas on 3/24/16 10:29 AM


Spring brings so many good things. Spring training for baseball. Better weather here in Boston. And for me, as a financial expert, the fun of tax time. As our clients approach tax time, I typically get questions like, “What’s new with the IRS?” Because in taxes, even something as simple as changing your address can generate the need for some hefty paperwork.

So that brings me to one thing that’s new. In the past, if a nonprofit with an EIN # moved or changed its address, it would normally just send in the change of address form to the IRS.

Read More

Topics: Association Management, Finance

Right from the Start: Setting a Dues Structure That Works

Posted by Andy Freed on 10/28/14 7:30 AM

You only get one chance to make a first impression.  

This isn’t just for people, it’s for organizations as well. 

And that’s why it’s so critical to set your dues at the correct level right out of the box. 

In my mind, there are three things to think about in setting dues levels. 

Read More

Topics: Finance, Membership, Associations

Association Finance: How Much Cash Should You Have in Reserve?

Posted by Terry Lowney on 7/29/13 11:19 AM

I’m not quite old enough to have seen the television commercials for Fletcher’s Castoria children’s laxative when they aired in the ‘60s. They carried the memorable tag line “Better than Prunes.” The commercials asserted that Fletcher’s Castoria was better than prunes because Fletcher’s removed the guesswork: “are three prunes enough, are six too many?”

Okay, this is a strange segue into a key association finance topic, but as an association management company our clients do frequently ask us how much of a cash reserve they should have on hand. Are three months (of average operating expenses) enough; are six months too many?

Read More

Topics: Starting an Association, Association Management, Cash Reserve, Finance, Association, Association Management Company

The Paperless Association

Posted by Bruce Rogers on 6/25/13 10:57 AM

Decades after some unnamed publicist coined the term “the paperless office,” paperless association operations are at hand. At least that’s the case for many technology industry associations. For tech groups, participation by myriad stakeholders around the globe has made paperless systems for working together a necessity.

Read More

Topics: Operations, Association Management, Technology, Communications, Board of Directors, Finance, Membership, technology industry, Association

badge-small

CONTRIBUTORS


Andy Freed
President & CEO

Greg Kohn
Executive Vice President

Bruce Rogers
Founder & Chairman

Terry Lowney
Senior Vice President, COO

Subscribe to Email Updates

Posts by Topic

see all

Follow Us