News & Insights
The Value of a Strong Financial Foundation – How Outsourcing Can Set Your Nonprofit Up For Long-Term Success.
April 13th, 2021
Association Solutions |
Today’s nonprofit sector is faced with a significant transition in demand for services, increased financial pressures, and the need to be flexible in project and program management operations. Nonprofit leaders are being asked to align with their organization’s carefully thought-out mission and vision while rising to the challenge of creating an organizational culture that thrives during these challenging times—making it even more critical to create an impactful, strategic organizational/ financial plan. How can outsourcing your administrative, event management, and accounting functions help?
The most significant benefit to a nonprofit in deciding to outsource is the economic value that hiring a contracted expert brings to the table. Accounting and Association Management firms are able to offer critical skills, paired with a larger team, at a fraction of the cost compared to direct-hiring full-time, in-house support for the same responsibilities.
How is this possible?
The cost of an association management firm is shared by multiple clients seeking the same level of expertise for a reduced price. When contracting a management firm for your nonprofit, it is essential to consider that in addition to the financial benefit, the association management firm will free your organization’s leadership to focus on driving towards your goals more efficiently.
Perhaps your organization’s executive director needs time to focus on meeting with legislators or networking in your community with key stakeholders. By contracting an outsourced firm, you are bringing in experienced, knowledgeable support staff.
Outsourced solutions offers experience full-service resources tailored to your organization’s specific needs. A well-rounded and experienced team can provide you with creative membership engagement to increase membership or streamline your membership management. Support your organization’s technology needs, from the implementation of software to hardware needs. Association management offers the support of administrative experts to dive into the daily tasks to free up the volunteers and board for the organization’s initiatives.
Does your organization offer continuing education programs? An association management firm can help you manage your certification program and give guidance to increase attendance to the revenue-generating events with marketing and management experts.
Ongoing strategic planning is essential to any successful Board. An experienced management firm will be available for board orientation, general governance training, and succession planning. Financial experts to produce valuable dashboards for impactful reporting, financial recordkeeping. Management firms offer financial infrastructure to ensure adequate internal controls for increased board/management transparency and give your organization the financial trend analysis you need to anticipate and prepare for your future. Association management firms also offer these full-service governance and accounting expert solutions.
What is the goal of an association management firm? To help your organization succeed in growing to its full potential by providing reliable, consistent, and affordable services.
From event management to impactful financial reporting to in-depth board training and strategic planning, Maner Association Solutions exists to provide a one-stop, full-service shop for everything your organization needs to succeed in this fast-paced digital age. At Association Solutions, our strength is our ability to leverage shared resources and enable your association to be agile.