Association management company
Encyclopedia
An association management company (AMC) provides management and specialized administrative services to trade associations and professional societies using a for-profit approach that runs not-for-profit associations like businesses.
AMCs manage associations
of varying sizes (from 10 members to 10,000 members) and annual budgets (from $50,000 to $16 million). The AMC model affords association clients the characteristics of economies of scale, experience in the association marketplace, flexibility and adaptability, buying power and centralized facilities.
AMCs typically provide strategic planning
, financial management
, executive management, membership development, marketing
and public relations
, educational and professional development, meeting and event planning
, among other services.
AMCs manage associations
Voluntary association
A voluntary association or union is a group of individuals who enter into an agreement as volunteers to form a body to accomplish a purpose.Strictly speaking, in many jurisdictions no formalities are necessary to start an association...
of varying sizes (from 10 members to 10,000 members) and annual budgets (from $50,000 to $16 million). The AMC model affords association clients the characteristics of economies of scale, experience in the association marketplace, flexibility and adaptability, buying power and centralized facilities.
AMCs typically provide strategic planning
Strategic planning
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues...
, financial management
Corporate finance
Corporate finance is the area of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximize shareholder value while managing the firm's financial risks...
, executive management, membership development, marketing
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
and public relations
Public relations
Public relations is the actions of a corporation, store, government, individual, etc., in promoting goodwill between itself and the public, the community, employees, customers, etc....
, educational and professional development, meeting and event planning
Event planning
Event planning is the process of planning a festival, ceremony, competition, party, or convention. Event planning includes budgeting, establishing dates and alternate dates, selecting and reserving the event site, acquiring permits, and coordinating transportation and parking...
, among other services.