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Sound financial management and reporting is critical for association success. Miller Wenhold Association Management’s knowledgeable and talented finance staff will deliver a comprehensive suite of financial management, budgeting, and reporting services that your association needs to effectively handle its revenue and expenses.

MWAM works with boards of directors, financial officers, finance committees, and other volunteer leaders to ensure effective financial management. In addition, our team has a long track record of working with the Internal Revenue Service and state tax agencies to ensure full compliance with all federal, state, and local tax laws and regulations applicable for 501(c) associations.

Monthly & Quarterly Reporting: Miller Wenhold Association Management will maintain and prepare all relevant monthly reports and financial statements for your board of directors using QuickBooks or another software package of your choosing. This core service can also be provided by our team as frequently as the board requests.

Income & Expenses: Miller Wenhold Association Management understands how important cash flow is to an association. To that end, we actively manage all accounts receivable to ensure timely payment of all monies due to your association. Likewise, we will work with the board to establish a monthly schedule for when all bills will be paid and checks will be signed and sent. Internally, our finance team will work across departments within MWAM to actively manage all accounts payable and accounts receivable to ensure nothing “falls between the cracks” with regard to the financial administration of your association.

Budgeting & Forecast Analysis: Our team has significant experience working with our association partners to support the preparation of annual and multi-year budgets. Working with your board of directors and relevant financial committees, each year we will lead comprehensive review of your strategy, annual objectives, existing contracts, ongoing corporate partner relationships, current and historical financial statements, investment data, reserve studies, comparative benchmarks, and all other relevant financial information to create a 360-degree view of finances and operations. This allows us to work closely with you in the development of an annual budget that is fully aligned to your mission and goals.

Similarly, we will engage in the same process for all meetings, committee activities, educational activities, special events, and other key initiatives requiring significant investment by your association to ensure all costs have been identified and appropriate revenue targets established to ensure profitability.

MWAM provides clients with state-of-the-art analysis on monthly and year-to-date activities. We will provide your association with dashboards and financial models to illustrate trends and projections to ensure stability and profitability.

Banking: Will setup and maintain bank accounts and all bank services required. We will seamlessly process wire and ACH requests, as well as be an informed liaison between the bank and your association when currency matters arise with international membership. 

Audit: Our financial staff has extensive experience in association audits and will coordinate the timing of any financial audits. All reports will be reviewed once received from your association's accountant before release to an auditing firm for any suggested changes if necessary. 

Taxes/990: Our experienced finance professionals will review the draft returns and administer any suggested changes. We will work with leadership to coordinate filing and tax form signatures. 

Accounts Payable/Accounts Receivable: We understand how important cash flow is to an association. To that end, we will prepare and send all membership, sponsorship, event, and education invoices to members and other stakeholders. Additionally, we will manage and collect all receivables due to your association. Our team will track all issued checks and coordinate accounts receivable tracking to ensure revenues are received on a timely basis. Each month, our team will provide leadership with a monthly bank statement and statement of cash flows to ensure full transparency with regard to the association’s financial resources and our prudent stewardship of those funds.


Additionally, we will work with your board of directors to set forth a monthly schedule for when all bills will be paid, and checks will be signed and sent. Of course, no payments will be made without prior approval from your board of directors. Internally, our finance team will work across departments within Miller Wenhold to actively manage all accounts payable and accounts receivable to ensure no deadlines are missed and nothing falls “between the cracks” with regard to the financial administration.

Reserve Management: Miller Wenhold Association Management has significant experience helping associations prudently manage their reserves. We will ensure effective stewardship of any reserve resources, in line with your policy, by partnering with best-in-class financial institutions including Wells Fargo, Edward Jones, and others to wisely, prudently, and conservatively invest the association’s cash reserve assets.

Transaction Processing: The consumer payment landscape is changing, and that impacts how associations will get paid in 2020 and beyond. To that end, we want to make it easy and seamless for members, corporate partners, and other stakeholders to transact with your association. We accept checks, credit cards, and peer-to-peer payment platforms such as PayPal, Square, and Venmo. Each month our team will reconcile merchant activity to your associations bank account.

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