New Offerings Target "Tough Times" for Nonprofits
According to a press release, NFF’s “Tough Times” services and tools include:
- financial workshops,
- scenario planning,
- merger management,
- program profitability analysis, and
- lending services such as PRI underwriting.
Some of the “Tough Times” offerings have been created specifically in response to current economic challenges, while others are services that NFF has provided during better times, simply refocused on situations where assumptions have changed or are difficult to predict. Those situations include when downsizing, turnaround or mergers are on the table, or when capital financing and restructuring may be desirable options.
Survey Says
NFF’s says that its 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.”
Full details on the new and expanded offerings can be found at: http://nonprofitfinancefund.org/details.php?autoID=189 .
Founded in 1980, Nonprofit Finance Fund (NFF) ( http://www.nonprofitfinancefund.org ) provides loans, access to capital and consulting services that build the capacity and the financial health of nonprofits. A community development financial institution with over $80 million in assets, NFF has provided over $190 million in loans and access to additional financing via grants, tax credits and capital in support of over $1 billion in projects for thousands of nonprofit clients nationwide. NFF has a staff of more than 75 serving nonprofits nationally.