About the Association
The Wild Bird Feeding Institute (WBFI) is an association dedicated to the progressive expansion of the backyard wild bird and backyard wildlife feeding industry. Since 1984, WBFI has continually worked to meet the needs of its membership and the industry.
Nonprofit Resources provided the organization budgeting solutions to help them thrive through a historically turbulent time.
Tailored Solutions.   Affordable Pricing.  Exceptional Results.
The Nonprofit Resources Team worked to resolve the downward trend of revenue through a multi-step approach of budget analysis and financial upkeep project, reducing unnecessary expenditures, reallocating funds for methods to increase dues revenues and programming to help them profit, and maintaining accurate financial reports.
Nonprofit Resources partnered with WBFI in 2018 to make sure that the organization would end up net positive at the end of the fiscal year. From multiple decades of nonprofit experience, Nonprofit Resources was able to quickly identify expenses that could be removed or canceled and new methods of efficiency to reduce overhead expenditures.
Through reviewing current subscriptions, contracts, and vendors, WBFI was instantly able to cut back on nearly 10% of expenses in year 1, and an additional 10% in year 2. This allowed additional funds to be reallocated to membership campaigns and dues in the coming years.
Using the funds saved, WBFI launched membership campaigns and recruitment tactics to increase dues revenues. Adjustments to existing programming also helped deliver more value to members.
Bird feeding was a hobby that picked up in 2020 when individuals were forced to stay home during the pandemic. The increased involvement from members and hobbyists created one of WBFI’s most profitable gross income years, followed by a large net income in 2021 after switching the annual meeting to virtual.
MAINTAINING ACCURATE FINANCIALS
Accurate financial reports on a month-to-month basis helped track and regulate all in-and-out expenses and kept leadership informed of ways that they can help WBFI maintain better financial health. Comparing these reports with previous years and comparing the monthly spending with a well-developed budget helped establish a secure financial system.
- Net Income increased by 525% in 5 years
- Approximately 20% of expenditures reduced by Year 2
- Reallocated funds to membership campaigns and dues
- Maintained accurate financials
Need assistance with Strategic Planning?
In conclusion, an initial budget analysis is a great way for an association to evaluate changes that need to be made. The Nonprofit Resources Team helped this small membership organization thrive through a historically turbulent time for associations and industries due to the pandemic and is continuing this trend by providing best financial practices and reporting.