Association executives have spent the past few weeks in triage as a result of the COVID-19 pandemic, moving operations to a virtual environment and making decisions about upcoming activities, meetings, events, and general operations. Scenario modeling and planning for the future are the next logical steps.
It’s time to start asking questions like these: If we postpone our conference or change it to virtual, how will that impact attendance and revenue? If my membership retention goes down, how will that impact my cash flow? Should I take advantage of a government loan program? How should I manage my payroll expenses?
This webcast will explore how to use scenario modeling to develop a plan with multiple options to address the rapid changes occurring in these challenging times. At the end of the session, participants will be able to
- describe the importance of scenario modeling in the current environment and how associations can use it as a decision-making tool
- identify variables for evaluation that provide important financial information without overcomplicating the model
- use data visualization to communicate the impact of the variables on the association’s projected future
Speaker: Lisa Stover, CPA, CGMA, CAE, Principal, CLA (CliftonLarsonAllen LLP)