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Case Study: Read About How Association Acumen Helped The Wisconsin Academy of PAs (WAPA)
Reach Its Financial Goals

Lacking a clear picture of its financial situation, WAPA reached out to Association Acumen to stabilize its finances and set it up with a solid foundation for the future.

The Challenge

WAPA was struggling to maintain a firm grasp of its financial status, mainly due to:

  • Financial reports not being reviewed in a timely or consistent manner.
  • Inconsistent communication with financial institutions, leaving board members to work directly with them for questions or concerns.
The Process

Association Acumen started with an audit and began by drafting a budget that outlined all of WAPA's accounts. Along with a budget, they also created a series of best practices such as:

  • Sending out financial reports by the 15th of each month.
  • Hosting regular training sessions and status updates with the treasurer and board members.
  • Sending the treasurer monthly reports with credit and bank statements as well as income and expense items.

The Results

The partnership with Association Acumen has allowed the board to focus on its goals rather than on its financial situation. With an emphasis on regular communication, transparency about all transactions, and a firm grasp of their holdings, everyone in the organization is now empowered to make well-informed, fiscally responsible decisions. Since 2018, WAPA has seen an 18% increase in net assets and is poised to continue on this trajectory for the foreseeable future.

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