Frequently, associations, societies, and foundations utilize an association management company (AMC) like CFAE because they realize that:
How is an AMC different from hiring someone from our industry to run our association?
In addition to the potentially significant financial savings, an AMC usually has people who are expert in the areas of meeting planning, publishing, membership development, strategic planning, not-for-profit financial management, government relations, and more.
CFAE has a staff with 100% having earned a bachelors degree or higher with 80% having a bachelors degree or higher in arts education; 60% have a master’s degree or higher in the arts with 40% Ph.Ds in arts education.
How much can an association save by contracting with an AMC?
The costs of maintaining an in-house staff, offices, and equipment can consume more than half and sometimes more than two-thirds of an association’s total annual budget.
Because the AMC shoulders the burden of payroll, benefits, taxes, insurance, computers, copiers and fax machines, property maintenance, utilities, and a host of other expenses, the association saves on a large portion of its overhead. An AMC can often cut an association’s overhead costs by 25-40% and maybe more.