June 2018 – Rick Szilagyi, Principal
Providing services to associations and other nonprofit organizations, Association Management Companies are on a mission to help boards focus on THEIR missions.
An AMC’s a la carte menu of services typically includes:
- Bookkeeping and accounting
- Event management
- Marketing
- Legislative and regulatory assistance
- Etc.
Full-service agreements are an option, as well. This may or may not include the services of an Executive Director.
The advantages to a board of using an AMC include the obvious – expertise, experience, and a staff to handle all of the time-draining details so the board members can focus on the mission. AMCs have been said to provide the “heavy lifting” when it comes to a process or project.
More subtle and of long-lasting import is the element of continuity. While directors and officers come onto a board and leave a board, the AMC remains, providing ongoing centralized data, all of the history, etc. Descriptors such as being “the glue” that holds the organization together as committees work together and boards change, have been stated by boards using AMC services.
Recommended reading:
- Benefits of AMCs
- AMC Managed and Standalone Organizations – A Sibling Study
- Benefits of Working with an Association Management Company (AMC)
The Lexian Management newsletter is for informational purposes only.
Always consult your attorney, accountant, and/or insurance provider to obtain advice with respect to any particular issue or concern.