“Many genuine thanks to Dan Varroney at Potomac Core for all of his thoughtful insight on investment reserve realities as well as strategies and practical considerations for re-aligning future dues categories. Dan started the project proving to be a phenomenal listener and then brought solid ideas and viable strategies back to our Association.”

Joel Dandrea

Executive Vice President, Specialized Carriers & Rigging Association

Case Study – Specialized Carriers & Rigging Association

Situation

The Specialized Carriers & Riggers Association is a 68-year-old international trade association of more than 1,300 member companies from around the world, operating in the specialized transportation, crane rigging, or millwright industries representing more than 150,000 employees in 46 countries. The association retained Potomac Core to:

  1. Conduct high level research on the association’s financial practices and product offerings.
  2. Determine how global macro-economic challenges could determine the need for a strong cash reserve.
  3. Identify important considerations for association board and staff to consider on a go-forward basis.

Outcome

Potomac Core confirmed SC&RA’s strategic plan alignment with member business outcomes and mapped member engagement practices to the association’s programs, practices, and revenue streams. The association’s alignment and effective engagement strategies were validated in its strong financial standing. Extensive industry research surfaced business challenges that could adversely impact the industry and the association.

Board Leaders found the assessment and its strategic insights as an important context for current discussions on reserve policies and member dues. The review also positioned future discussions during its scheduled strategic planning update in 2017.

 

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