The foundation of any association’s success is its financial strength and integrity. With proper financial management, organizations can make informed operational decisions.
Canceled Convention Results in New Member Services
After a canceled convention, the Bank Insurance & Securities Association (BISA) provided its members with perks such as membership upgrades, networking opportunities, and more.
Volunteer Engagement and Fiscal Responsibility Results in Budget Surplus
The Association for Clinical and Translational Science (ACTS) decided to budget conservatively in 2021, which lead to exceeding its budgeted member renewal dues and acquiring new members.
Why Associations Should Consider Financial Forecasting
If an association doesn’t take the time to perform financial forecasting, it could encounter some unpleasant budget surprises.
5 Considerations for Establishing a Reserve Policy
Reserves are important to build and maintain. Here are the key considerations that should be evaluated when assessing financial risk and setting a reserve policy.