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”
By: Bennett Napier, CAE
In association management, diversity of revenue streams is increasingly important. Making all of your revenue off of just dues or meetings/events can place an organization in a precarious position. Many successful organizations are able to not only grow revenue but also ride out lean times with affinity income, when dues or meetings revenue may see dips based on economic conditions.
However, there is a catch. Affinity programs which bring in non-dues revenue does have to be done properly due to Unrelated Business Income Tax (UBIT) regulations. Continue reading “Affinity Agreements 101”
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”
By: Ricki Sexton
While I do have many years of association experience, I have more years of accounting experience, which is why coming to work at Partners as a Member Services Manager was a new direction for me. Numbers, following procedures, checks and balances, and proper and timely recording is something I feel extremely passionate about. Continue reading “What’s In Your Accounting Department”
By Bennett Napier, CAE
One of our association management company’s clients, is a 501 c3 organization, the Foundation for Dental Laboratory Technology.
The group’s mission is to (http://www.dentallabfoundation.org/) advance the profession of dental laboratory technology by developing educational curriculum and programs that will be relevant and accessible to dental technicians and other members of the dental team. Continue reading “Fundraising; Friendship/Fun and Fear”
By: Rachel Luoma, MS, CAE
Yes, you heard me right – I used financials and fun in the same sentence!
One of the most important aspects in any organization, whether for profit or not-for-profit, is the ability to maintain strong financials. For “type A” folks like me, just talking about financial statements gives me quite the rush. However, no matter what your personality type is, it is imperative to fully understand your association’s financials. Continue reading “Fun with Financials”