Non-dues revenue helps BOMA Fort Lauderdale and Palm Beaches (FTL/PB), deliver value that gets members to stick around
Updated: Oct. 10, 2022 | Categories: Revenues
Association chapters often say that as nonprofits, they exist to deliver on their mission and to support their members, not to make money. If you agree with that statement, you’re right, to a point. Most chapter goals don’t include bringing in a lot of revenue.
However, money is essential to paying for all those things your chapter is known for, so members stay, and new members join. Expecting to get enough to cover that from dues is unrealistic. For many chapters, dues probably cover just the minimum. And doing the minimum, or the same things all the time isn’t going to help you meet your mission for long. We’ve seen chapters close because they can’t afford the things their members expect.
Revenue doesn’t have to be a “dirty” word to association chapters. There are easy, relevant ways to raise money that will allow you to produce strong programming, attract members and deliver major value.
Here you’ll hear from Melanie Barest, executive director for Building Owners & Managers Association of Fort Lauderdale and Palm Beaches (BOMA FTL/PB), about BOMA FTL/PBs success with non-dues revenue. But first, here are a few things you might consider trying to bring in more money, if you haven’t already.
- Have different sponsorship levels or a la carte options so sponsors can choose what’s right for their needs. Include opportunities to speak, pay for food, signs at events, listings in your newsletter and on your website, have their logo on your slides, etc. Virtual association chapter sponsorship opportunities can also provide unique connection options.
- Consider charging non-members more than members to attend events. In addition to bringing in revenue, different payment levels show non-members the value of membership in your association chapter.
- Do you record events and create educational materials from presentations? Include these materials in the event price and provide them to attendees, but also offer them for sale on your website to those who didn’t attend.
BOMA Ft. Lauderdale & Palm Beaches (FTL/PB) success with non-dues revenue
Melanie Barest has been the executive director for BOMA FTL/PB for more than 20 years. We’ve spoken to her before about the success of this local association (BOMA calls their chapters “local associations”). This time we asked her to tell us a little about BOMA FTL/PB and their work bringing in non-dues revenue. Here’s some of what she shared, about their a la carte sponsorships, other successful revenue generators and the buy in they have for their revenue program.
What are the main reasons for BOMA FL/PB non-dues revenue success?
Local association leadership understands the need for non-dues revenue. By the time we pay BOMA International and BOMA Florida, we really do not have a lot of revenue from just the dues. Our members receive an enormous amount of exposure from sponsorships, and they [sponsors] really do buy into the fact that they cannot just simply show up to the luncheons and expect to get business. They know that supporting the local association and getting exposure for their sponsorships helps get them noticed.
What are a few things the local association does to bring in additional revenue?
It’s mostly from awards gala and golf tournament sponsorships, engineering breakfast sponsors, luncheon sponsors and some advertisements in our weekly e-publication, the BOMA BUZZ. We do not have an annual sponsorship program like other associations.
What are some of your most successful revenue generators?
Certainly, the TOBY (The Outstanding Building of the Year) Awards Dinner Gala. We have 48 different choices at all types of price points for our members to select from. We open the sponsorships to non-members after members have selected what they desire. The event is akin to the Golden Globes in Hollywood, CA. The other big generator is the Ron Macklin memorial Open (golf) Tournament. It’s very similar to TOBY in that we have a lot to choose from at different price points.
Does the board see the importance of non-dues revenue to the local association’s long-term success?
This BOMA local association board understands the importance of revenue and are open to new ideas and suggestions. We have a healthy reserve account and have operated at a high level, for 37 years.
Do you get any pushback from members/guests/sponsors about paying for things?
Not at all. We keep our luncheon fees low. The “ticket” fee for the golf event and awards dinner are fairly priced for what we offer. If they feel it’s unreasonable, they just don’t participate or purchase, so it’s not about what we charge, it’s if they see the value.
Non-dues revenue keeps chapters solvent
Chapters need money to survive. How much you bring in determines what you can offer members and potential members and how successful you’ll be doing it. As you can see from the success of BOMA FTL/PB, when boards, members and sponsors understand the reasons behind paying for things other than dues, when they experience the benefits and see the value, they’re much more likely to pay for all your great events in the future.
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