IAMC

INDUSTRIAL ASSEST MANAGEMENT COUNCIL

BlogBanner2




President’s Foreword - November 2021
Rya Hazelwood

President’s Foreword - November 2021

By J. Tate Godfrey, CEcD, President & CEO

There is an old African proverb that says, “Calm seas do not make skillful sailors.”  After going through the rough seas of 2020 and 2021, IAMC staff, Board of Directors, Committee Co-Chairs have demonstrated excellent skills in making it through a particularly challenging time to be a professional association.

IAMC has had to make some tough decisions to adapt to the limitations presented by a global pandemic. And, we were not alone.

Fonteva, an association software company, recently surveyed more than 240 association executives. The goal was to identify the impact of challenges posed by the COVID-19 pandemic and measure how associations are adapting.

One question asked, “What specific impacts is the global pandemic having on your association?” The results were telling if not overly surprising:

  • Events canceled entirely – 45%
  • Events pivoted to virtual – 82%
  • Revenue outlook for 2020 declined – 71%
  • Significant impact to industry we serve – 42%
  • Staff reduction – 19%
  • Other – 2%


Obviously, most respondents needed to adapt to some tough sailing conditions. 

For our part, IAMC had to cancel and reschedule our Spring 2020 and Fall 2020 Forums respectively.  We had to reschedule both the Spring 2021 Forum and 2021 London Forum.  We pivoted to a virtual format for both our 2020 Fall Forum and the 2020 London Forum. We planned and executed 25 webinars for our members over the course of 2020 and 2021 – more than twice the pre-pandemic goal.  Our revenue goals for 2020 and 2021 were impacted to the point of needing to access a small portion of our long-term reserves. Lastly, we were able to maintain our existing staff members, but we have delayed adding a new position previously approved by the Board.

For all the rough waters we have faced and overcome, there have been beacons of light as well.

IAMC has an extremely loyal membership and sponsor base.  Our member retention numbers have hovered around record highs over the past two years.  And, our financial sponsors have been extremely supportive of our events – both live and virtual – throughout the pandemic.  These two areas have been a lifeline while having to endure travel restrictions and the inability to register for our meetings.

In addition, IAMC has been incredibly fortunate to have a long-term reserve of funds for use in rough seas.  This vision by past IAMC Boards and leaders has provided a much-needed cushion during the impacts of the pandemic.  As we come out of the pandemic, the Board has set a goal to grow these long-term reserves for use in future turbulent waters.

I am proud to be a part of this organization as I know many of you are as well.  Thank you for your individual contributions to get us through this ordeal – there are certainly too many to list here. 

We are planning for a full calendar of events for 2022.  And we know that no matter what comes our way, with your support, IAMC will thrive.

Previous Article 2022 is Coming … Mark Your Calendar
Next Article IAMC Member Spotlight: Mike Connors, Senior Vice President, CORT Business Corporation
Print
512 Rate this article:
No rating
Please login or register to post comments.