Help for struggling Third Sector organisations
We have lots of experience of helping third sector organisations to cope with financial crises. The good news is that things are never as bad as they may seem.
We are often asked to advise Trustees on their responsibilities and duties when it becomes clear that the organisation is facing financial problems. We can attend Trustee and Management Committee meetings to outline the options that are available to struggling organisations and answer any questions that arise.
We offer a completely free initial meeting, where we can find out about the situation and provide a range of options, tailored to the particular circumstances.
What are the likely outcomes?
We never pre-judge a situation before we have properly assessed the current position and explored all the options that are available. The outcome often depends on factors such as the security of future income streams, the confidence of the Trustees in being able to maintain a sustainable business plan and the nature of financial pressures on the organisation.
Depending on the situation, options may include an informal arrangement with creditors to reschedule debts to ease cashflow pressures, a formal repayment plan with creditors and the writing off of part of the debt, or an orderly closure and winding down of the organisation.
We deal with all issues that arise in these situations such as leases and landlords, employment contracts and employee liabilities, and liaising with funding bodies and finance providers.
Questions? Need help?
Call Dr Paul Moorhead and his team on 01709 331300 and arrange a free, no obligation initial meeting to find out all the options for your organisation.