Financial Management

WAM, LLC has a proven track record of success in the financial management area of the organizations it manages. By implementing a system of “checks and balances,” the Chief Financial Officer will have full accountability to your Treasurer and Board of Directors. The CFO will develop and submit a budget for Board approval, maintain all financial affairs, records, and monies of the Association, as well as prepare financial reports for every Board meeting. The CFO will invoice and collect monies for all membership dues, event or conference fees, and revenues from advertising or sponsorships.

It is also important to mention that Wisconsin Association Management, LLC carries Errors and Omissions Insurance. Every organization is a fragile entity, and it is crucial that the long-term interests of such are prepared for all possible contingencies.

WAM, LLC will also assume responsibility for the annual required state and federal tax forms, including the IRS Form 990. Also, depending on how an association chooses to use its dues and other revenues, we have found that many of the associations that we manage have excess cash at the end of the fiscal year. Our experienced staff will make a recommendation to the Board on how to use these extra funds, whether it is through improvements to the organization’s infrastructure (such as a website, educational offerings, etc.) or investing these excess cash reserves.