Editor’s Note: Money and Mission
The role of money in keeping a nonprofit moving along.
Does a big, brash dollar sign belong on the cover of a nonprofit’s magazine? The thought occurred to me as we considered this issue’s cover options. But the fact is that no association can pursue its mission without making money, and for the staff teams charged with bringing in revenue—especially nondues revenue—that bright neon glow can’t be ignored.
It’s probably no surprise that event registrations and tradeshow booth fees top the list of association revenue sources other than dues, according to ASAE research. Education program fees aren’t far behind, and of course there are others. Whatever the source, associations that take a strategic approach to product development, always linking revenue-generating products and services to mission, are the most likely to see a boost to their bottom lines, Katie Bascuas reports in this issue. She shares vignettes of three organizations that capitalized on what they already did well to serve members better and bring in new dollars. Find out how they did it.
Speaking of shiny, new things: The association community continues to expand its global reach, most recently establishing a formal foothold in Africa with the February launch of the African Society of Association Executives. As Mark Athitakis reports, economic growth and increasing political stability on the continent are fueling a need for associations and professional association management. Mark has the story of how the fledgling organization is setting out to meet the demand.
And don’t miss Joe Rominiecki’s profile of two relatively new CEOs, one from his association’s industry and one a seasoned association management professional. Which background is best for a chief staff executive? As always, the answer is “it depends.” Their stories shed light on this perennial association leadership question.