Association Management Company
What is an Association Management Company (AMC)?
While some associations hire staff to run their organization, others hire an Association Management Company (AMC). An AMC provides professional management and administrative services to associations and charities. The AMC provides a centralized office that serves as the client association’s headquarters.
Overhead costs are then shared between the AMC’s various clients, enabling them to conserve resources and increase capabilities without major capital investment.
Due to the shared resources, specialists are drawn from the personnel pool and are assigned on an as-needed basis. An AMC can provide full services, or customize a program to complement a client’s current operations.
For example, a publications editor coordinates a monthly newsletter or annual report while an exhibits manager oversees the annual meeting trade show. A special team might assist with custom projects and additional support staff is utilized to help with membership programs. Through AMCs, you get an experienced and professional team to carry out your mission for less than it would cost you to maintain your own full-time staff.
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.
About Association Management Companies (AMCs)
If you’ve ever been involved in an association or charity, then you know the depth of activity required to keep things running smoothly. Although each association is very different, you’ve probably taken advantage of some typical services: testing through a credentialing or accreditation program, attending annual conventions and exhibitions, acting on legislative alerts, accessing membership directories, and reading newsletters.
Why use an AMC?
- Everyone does what they do best – leaders are free to concentrate on policy issues instead of administrative tasks.
- Sharing resources with other groups allows for a high level of professionalism, management expertise, and technology that might not be affordable otherwise.
- Get only the services you need. Our company customizes staff activity to meet your needs.
- AMC-managed companies see significant increases in operating surplus.
- Maintain continuity through changes in board leadership.
- More and more groups do business virtually, eliminating the need for office overhead, full-time staff, and expensive benefits programs.
What typical services do AMCs offer?
- Executive management
- Administrative management
- Financial planning and budgeting
- Strategic planning
- Membership development
- Meeting/convention/trade show management
- Marketing
- Bookkeeping
- Communication services
- Education and professional development
- Technology and website support
- Statistical research, spreadsheets, and database management
- Custom project management from concept development through final reporting