When does professional association management make sense?
If your new or fast-growing not-for-profit could use an extra pair of experienced hands, an association management company (ACM), with its turnkey infrastructure, might be able to help. AMCs are paid to manage your nonprofit’s business, leaving you to concentrate on its mission.
Business on their mind
Your organization can rely on an AMC for help with recruitment, employee benefits, training and other time-consuming tasks. Most AMCs provide their services based on a flat fee or monthly retainer. Their clients share overhead costs, so you pay only for the services you need. For example, you can contract with an AMC to provide technology and website support rather than hire a full-time IT staffer.
AMCs support an array of nonprofits, including trade associations, professional societies and charitable organizations. Many serve as the organization’s headquarters, providing it significant savings on space and equipment costs.
Can you use AMC services? Identify your nonprofit’s requirements through an organizational audit. Your board can then decide which needs should be fulfilled by current employees and which could be outsourced to an AMC.
Next, find a vendor. The AMC Institute lists members on its website at amcinstitute.org. It provides other resources as well, in some cases for a fee.
Choose three or four firms based on the types of services they provide, years of experience and cost. Then conduct in-person interviews, paying particular attention to the types of client the AMC serves and whether its culture is similar to your own. Be sure to check references before settling on a firm.
Whether you need help with your new or growing organization or have specific service needs, a professional AMC could be a solution. We can help you conduct an organizational audit to pinpoint which services you might be able to outsource.
If you would like additional information or to discuss the topics mentioned, please contact Amanda Meko, CPA, CGMA at 317-260-4436 or email@example.com.