As I have moved through the association management industry, I have had the opportunity to work in various roles and with a wide range of industries. When I first began my career, I was working on one association only, serving as a community liaison for a very active online membership. As I progressed through my career, I had more opportunities to engage with other associations. The opportunity to engage with other associations was what solidified my desire to make this a career. It also showed me the quickest path to gaining the skills and knowledge to advance within the association management industry.
This past December, I had the privilege of facilitating a panel at the Dubai Association Conference (DAC), an event that promotes dialogue and offers educational sessions for associations interested in exploring opportunities in the Middle East Region. Our session, Building Your Career Path, covered the ever-evolving world of professional development and how planning one’s career and achieving progressive learning through certification can be a game changer in career advancement and growth.
Topics: Mentoring, Speakers, Chief Executive, Chief Staff Officer, Associations, Thought Leadership, Professional Development, Gregg Talley, AMC, Association Management, association management company
What is association management? That was the main question today asked of students within Temple University’s School of Sport, Tourism and Hospitality Management (STHM). Joe Sapp, of Talley Management Group and Kyle Fernley of Fernley and Fernley, representing the Mid-Atlantic Society of Association Executives (MASAE) presented to a classroom of students about what association management is, how they can find a career in the industry and how MASAE can be an organization for the them to engage with.
Mount Royal, NJ (May 16, 2017) – Talley Management Group, Inc. recently announced that it has been selected as the new Association Management Company for the American Radium Society.
Selecting an Association Management Company is a time intensive and comprehensive process. Whether you are a stand-alone association moving to the association management company model or currently receiving services from an AMC, it can be a stressful process. Whether you are familiar with the process or not, here are 9 of the top things to consider when doing your search and ultimate selection of a new association management company.
Did you know Association Management Companies (AMCs) have been around for over 100 years, TMG for 28 of them.
We have known that the AMC model makes great business sense for not for profit organizations given the breadth of our expertise and access to resources. We also suspected that there was a bigger story on the financial success of our model to association clients as well. Today, we finally have the data to prove it.
The Association Management Company Institute (AMCI), the trade association for AMCs commissioned an independent study of randomly selected 990s for stand- alone and AMC managed associations and the findings were frankly, startling. Key findings from the study indicate that, on average, AMC-managed associations experience more than three times the growth in net assets and 31 percent more growth in net revenue regardless of size and tax status.
“Given the wide variety of associations surveyed, and the random sampling applied, the findings are remarkably consistent,” said Gaskin, a professor of information systems at Brigham Young University. “When we analyzed the data, it was clear that associations of all types and sizes using the AMC model tend to be the strongest financially.”
Additional findings indicated that, on average, AMC-run associations have:
- Less liabilities as a percent of revenue
- Lower expenses as a percent of revenue
- Higher surpluses as a percent of revenue
That’s compelling data! It shows that AMCs provide value in every way to our not for profit clients! Check out the full report here.
I recently saw an article on an industry newsletter that caught my eye. The original blog posed the question, "Staffing the Association: Employ Staff or Contract with AMC?” The post gave a great overview of the benefits of partnering with an AMC. While not going into specifics, it hit the high level benefits that we, as an AMC provide for Associations. There was a follow up on the subject, addressing a few comments that focused on why employing your own staff is a better option for an association.