Only 12% of Association Partners Prefer Virtual Conference Sponsorships
Question: What is worse than not having a DEI Strategy?
Answer: Having a DEI Strategy that does not involve your team.
The data is in, and study after study has shown that businesses who understand the DEI journey and have demonstrated meaningful results are more profitable and have a much better work culture.
What do your partner sponsors want or expect for their participation with your association?
Do you know the answer to that question with a high degree of confidence? Unless you have asked them directly the answer is “probably not.” Well, we do not either but we do know that a very high percentage of our association studies are underwritten by sponsors so we know for sure that sponsors are willing to make sizeable investments with associations.
A little over a week ago we attended Non-Dues-A-Palooza in Nashville, TN. We learned from forward thinking association executives just how they are implementing non-dues revenue at their associations. One of the sayings that stuck with me was “Non-Profit is a Tax Term, Not a Business Plan.” This statement was made by an executive director of an association who has implemented several for profit incubator programs that have poured millions into their endowment. Yes, I said millions.
The Dynamic Benchmarking team is excited to be participating in the Non Due$-A-Palooza event happening this week and we look forward to sharing what we learn at this exciting event. We hear from associations all the time that non-dues revenue is becoming increasingly important and at Dynamic Benchmarking, we have developed several programs that can help your association utilize benchmarking as a non-dues revenue generator and member benefit.
One of the items we get asked frequently is, exactly what constitutes a taxable item when non-profits like associations start increasing their non-dues revenue. Our friend at Tenenbaum Law Group, Jeff Tenenbaum recently wrote a blog article on this subject and since it's full of great advice, we thought we'd share it here with our followers.