Talley Management Group, Inc. (TMG) proudly announces that it has been reaccredited by the Association Management Company Institute (AMC Institute). Achievement of AMC Institute Accreditation demonstrates an association management company’s (AMC) commitment and ability to deliver consistent quality service to present and prospective clients. AMCs who wish to remain Accredited must reapply for and complete the process every four years.
Today marks exactly one month until the December Certified Account Executive (CAE) designation exam.
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.