Category Archives: accounting

THE POWER OF A DETAILED CHART OF ACCOUNTS

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By Erik Luoma, CPA

It is important to properly set up a chart of accounts. A great resource for any association looking to beef up their chart of accounts is the ASAE Standard Chart of Accounts for Associations (www.asae.org). I highly recommend everyone download and read the entire document as it is only a few pages long and will discuss many of these concepts in much greater detail. Continue reading THE POWER OF A DETAILED CHART OF ACCOUNTS

Financial Management Duties of Non Profit Board Members

By: Bennett Napier, CAE

During my career in association management, I have been privy to a number of cases of financial mismanagement; embezzlement and other less than stellar financial practices in 501(c)(3)(4)and (6) organizations. Continue reading Financial Management Duties of Non Profit Board Members

The Twelve Days of… Association Management

By: Caroline Thomas

I’m not sure where the time went, but somehow it’s already time to deck the halls! Regardless of how you celebrate this time of year, you may be faced with some much needed preparation in the workplace for the end of the year. We’re sharing a new holiday carol for businesses. Continue reading The Twelve Days of… Association Management

HOW TO REVIEW YOUR ASSOCIATION’S 990

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By: Erik Luoma, CPA

As an Association Executive or Board Member, the task of reviewing your CPA prepared Form 990 can be a stressful one. However, with a general plan of attack and the right tools, you can check this item off your list with confidence every year. Continue reading HOW TO REVIEW YOUR ASSOCIATION’S 990

Budgets – It’s all About the Benjamins

By: Rachel Luoma, CAE

For me, January brings a fantastic time of year – new, fresh budgets! Budgeting is one of my favorite times of the year as it allows me to take an in-depth look at the financial operations of the association and better understand the story that the numbers are telling.

Income and Expenses
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
  • Did we hit our projected income this year? If not, why?  What needs to be adjusted or done differently next year?
  • Did we stay within our budgeted expenses? If not, why?  What needs to be adjusted or done differently next year?
  • What was our net profit for operational income/expense? Did we meet budget?  Why or why not?

Continue reading Budgets – It’s all About the Benjamins

Three Tips on How to Make Your Job Successful

By: Malarie Barineau

During the last 5 years I have had the opportunity to work in a variety of different roles and with a variety of great individuals. Throughout these years I have had the ability to grow within Partners. Below are a few tips that have helped me along the way. Continue reading Three Tips on How to Make Your Job Successful

Wile E. Coyote’s Guide to Association Management

By: Rachel Luoma, MS, CAE

On any given day at least two to three cartoon theme songs are running through my mind!  As I write, I am singing the Jake and the Neverland Pirates theme song.

It could be that I have two young children, or the fact that I love cartoons.  However, regardless of the reasons, I can’t help but draw parallels between cartoons and association management.  It seems that there are several lessons to be learned about how to build better associations from watching cartoon.

So, as my children would say, “Yo Ho Let’s Go”!  Continue reading Wile E. Coyote’s Guide to Association Management