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When it comes to running a local chapter, leaders have a lot of responsibilities to consider. Who will lead the keynote? Where will the meeting take place? What date will allow the majority of members to attend?
With all of this in mind, the last thing on a busy chapter leader’s priority list is usually managing their budget and coordinating funding for their event. This is where an association management company like Innovatis Group provides unique support to local chapters; when we take on the responsibility of funds management, local chapter leaders are able to invest more time and energy into creating an impactful event for members.
For one of our clients, this process takes a couple different forms.
Local leaders identify a sponsor or sponsors to fund their events.
This is perhaps the most straightforward approach of funds management. When local leaders come to our headquarters team with sponsors who have agreed to fund their events, our accounting staff takes the lead on coordinating invoicing, receiving payment, and outlining the budget to which the leaders must adhere.
National partners identify local chapter events they want to fund.
Because our accounting team has a birds-eye view of all of the sponsorship dollars that are coming into the organization, we can also identify opportunities for partners to invest in local events so they can engage with our members – their customers – on a more personal level. Essentially, sponsors come to us with an allotted amount of money to be put towards community events and we add that money to local chapters’ event budgets accordingly.
It’s no question that funding is an essential function of event planning. Our team can alleviate the administrative responsibilities of funds management so local leaders are free to concentrate on the content of the meeting, which speakers will present on which topics, and the best ways to engage their members.
Contact us today to learn how an association management company like Innovatis Group can support your local chapter leaders with a funds management program!