The Smart Financial Policies That Helped Three Groups Navigate the Pandemic
How financial policies helped them survive these tumultuous times
No two associations are identical. Revenue streams and concentrations, reserve policies, and liquidity vary. As a result, different approaches have developed as associations look to successfully navigate the challenges presented during the pandemic.
Many associations wonder how others have used reserves and other tools at their disposal to navigate the financial challenges of the past 19 months. Here’s a closer look at the tactical approaches taken by three different organizations.
The Vision Council
The Vision Council has two events representing approximately 75 percent of annual revenues. Due to its reserve strategy, the Council has been able to continue operations and member services, despite a significant loss of revenue from the cancellation of both events in 2020.
Please select this link to read the complete article from ASAE's Center for Association Leadership.