By Anna Morris, account associate
The Association Management Companies Institute just rolled out a report that spell$ big new$ for the a$$ociation management industry. Err… sorry, appears the “s” key on our keyboard is broken, but we’ll just replace it with a $ sign, which is exactly what the July 2015 report is about: more $$$ for associations managed by an AMC. (Learn more about what an AMC is here.)
Commissioned by AMCI, an independent researcher from Brigham Young University found that associations using AMCs have stronger financial performance than those that do not. In fact, the report found that “AMC-managed associations experience more than three times the growth in net assets and 31 percent more growth in net revenue, regardless of size and tax status” (here). The study surveyed more than 160 associations with budgets ranging from $500,000 to $7.5 million, which is a good indicator that the study’s results are applicable across associations of different types and sizes. This is huge news for an industry where many associations still shy away from AMCs because they fear the cost or lack of added value.