Nonprofit Finance Fund Rolls Out “Tough Times” Services and Planning Tools to Help Nonprofits and Foundations Weather Recession
New York, NY, April 15, 2009 — Nonprofit Finance Fund (NFF) has expanded its offerings for nonprofit organizations and foundations to help support strategic decision-making and financial management during the economic recession. NFF’s “Tough Times” services and tools include financial workshops, scenario planning, merger management, program profitability analysis, and lending services such as PRI underwriting. Nonprofit Finance Fund has also added expertise in response to increased demand for financial counsel; new members of NFF’s leadership team include Tom McLaughlin, Director of Consulting Services, and Edward Sermier, Director, User Services, and Stacey Zelbow, Manager, Consulting Services.
NFF’s recent survey of the nonprofit sector found that many organizations are in dire financial straits, and are interested in exploring new ways to manage through the crisis and beyond. Of more than 950 respondents representing a broad range of sizes, geographies, and sub-sectors:
· 58% would like to conduct scenario planning,
· 52% want help communicating their financial picture to board and/or funders,
· 34% are interested in program profitability analysis, and
· 13% are interested in exploring merger feasibility.
“Recession brings challenges, but it also provides an opportunity to address fundamental questions about the financial ‘rules’ that govern our sector, and to explore new ways of doing business,” said Leon Wilson, Executive Vice President of Nonprofit Finance Fund. “Based on what we’re seeing in the field, we’ve bolstered our ability to deliver the services and assistance that nonprofits and foundations need now in order to continue delivering on their missions.”
NFF’s rapid-response services are customized to meet the needs of organizations as determined by factors such as size, mission-focus, financial condition, and goals for the future. Some of the “Tough Times” offerings have been created specifically in response to current economic challenges. Others are services that NFF has provided during better times, simply refocused on situations where assumptions have changed or are difficult to predict; downsizing, turnaround or mergers are on the table; and capital financing and restructuring may be desirable options.