In an association, it can be daunting to keep track of the many day to day details. But it’s vital to get a firm grasp on what each department or employee is doing. Mistakes can happen when one hand doesn’t know what the other is doing. If you’re not paying attention, oversights and even unscrupulous lapses in judgement could cost you dearly.
Since Frontline opened its doors nearly two decades ago, we’ve seen it all. Whether your scares have come from human error or greed, we can help you turn your association around. And, we can help stop problems before they start. Read on for some nightmares we’ve encountered, and advice on how to avoid them.
What financial report?
Can you imagine running your association organization without understanding its finances? What if the board had never—not once—received a financial report? It makes it impossible to get a true picture of the association’s financial position. Sure, the staff had paid invoices and received money from members. But without a financial report, the board couldn’t be sure if the association was sticking to its budget or not. Worse, once they cleaned up their finances, they unearthed another scare: the former management team was unable to account for some of the organization’s money.
Making sure you get a financial report is a no-brainer. How else can you know where you’re making money or wasting it? Those numbers tell a story: one you need to hear to succeed and to serve your members in the way they deserve.
Board members in cahoots
What if two board members were scheming to rip off their association? We once encountered an executive director who allowed another board member to sell the association’s exhibit space with no oversight or reporting. The board member calculated the association’s share of the proceeds without any detailed reporting or accounting. With no transparency, it’s impossible to know how much money the association really earned, and whether it had been appropriately compensated.
Your board is ultimately responsible for association governance. Frontline’s association management services keep your organization running smoothly, and puts processes in place to ensure proper governance.
Stopping a scammer
Here’s an example of an association management company’s ability to stop situations before they occur: An association president appeared to have submitted requests for vendor payments. The trouble was, no one recognized the vendor or the service that had purportedly been provided. Instead of taking the president’s directive at face value, staff asked questions and discovered that the request was a scam.
It takes industry experience and knowledge to catch such shenanigans. Frontline is fully accredited by the AMC Institute, the leading professional organization for AMCs globally. Less than 100 firms in the United States have achieved this accreditation. It’s an industry standard that means you can count on us to adhere to best practices in association management.
Associations benefit greatly from management with years of experience and deep knowledge. Frontline offers both, providing association management services you can rely upon. Reach out and we’ll talk you through it so you won’t encounter any (more) nightmares.