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This is an uncertain time for everyone. Nonprofits and financial institutions
alike face new challenges as they try to navigate the economy. At Nonprofits
Assistance Fund, we are working to help nonprofits deal with the impact of the
economy and position themselves for the future. In particular, our goal is to
offer sound and practical advice and help them cope as demands for services
increase while income declines.
Bankers serving nonprofits are in a unique position to help their customers.
Your management expertise, access to capital funds, and financial acumen are
especially important right now. As you work with nonprofits at a time when their
revenue streams are tightening, call on Nonprofits Assistance Fund to help your
customers understand the financial pressures, funding trends, and other
constraints that they face. By working together, we can help nonprofits craft
and implement prudent financial strategies to maintain their ability to serve
our community at this critical time.
There may be situations when you are not able to provide financing for some
of your nonprofit customers in this environment. Nonprofits Assistance Fund's
loan fund is an alternative source of flexible financing, coupled with valuable
financial management guidance and training. For more information about our loan
program and guidelines, please visit Loans.
Resources for Nonprofits
Nonprofits Assistance Fund is also a source for timely, practical information
and resources for nonprofits.
Navigating the Economic Downturn
Sustenance
in Lean Times is a collection of articles and other resources compiled by
Nonprofits Assistance Fund to help nonprofits during these uncertain times.
Here are some additional resources:
Redesigned Form 990
More than a Loan - Realizing a Revitalized Mission
Rebuild Resources helps recovering alcoholics and addicts build a healthy and
stable future. A social enterprise, Rebuild aims to earn 80% of its budget from
its business ventures, which offer a safe job environment for people in
recovery. When the organization initiated a restructuring plan to improve its
financial condition, President Kevin Lynch sought out Nonprofits Assistance Fund
for a loan to bridge a cash flow gap. Nonprofits Assistance Fund approved the
loan and helped Rebuild's management team navigate their organization's
intricate finances.
As part of the restructuring, Rebuild discontinued some of their enterprises
and put the associated real estate on the market. However, because of its
specialized nature, the sale took several years. Kevin was concerned and
approached Nonprofits Assistance Fund for a loan to cover operating costs.
Rebuild Resources successfully closed on the property in December 2007 and
now operates without debt and the property's carrying costs, "Nonprofits
Assistance Fund allowed us to take the time to sell the property at a fair and
reasonable price, rather than hold a fire sale." Describing the partnership,
Kevin said, "We knew where we wanted to take the organization and had identified
the barriers that existed in our financial situation; Nonprofits Assistance Fund
helped us get around those barriers with flexible financing and allowed us to
focus on the mission." A more stable and focused Rebuild Resources is able to
help more people move ahead with their own vision of success; over the last two
years its client placement rate has doubled.
About Us
- Social Enterprise Network
- Neal St. Anthony profiles Kate Barr
Social Enterprise Network
To support Minnesota's social entrepreneurs, Nonprofits
Assistance Fund and MAP
for Nonprofits are launching the Social
Enterprise Network. The Social Enterprise Network is designed for nonprofit
organizational leaders who are current practitioners in social enterprise. The
conversations will focus on sharpening the management of existing social
enterprises and building organizational cultures to support those enterprises.
Participants will exchange tools and knowledge that will help each other advance
their social enterprises.
Beginning in January 2009, the Social Enterprise Network will meet monthly to
discuss a specific topic at a different Twin Cities area social enterprise. Continue
reading about the Social Enterprise Network, including resources and information
on local practitioners.
Neal St. Anthony Profiles Kate Barr
Neal St. Anthony, the Star Tribune's business columnist, recently profiled
Kate Barr. His article, This banker to the nonprofit sector a lending success story,
outlines how critical our work and expertise is during this challenging economic
time:
"Nonprofit Assistance Fund has seen demand rise as recession grips the state.
But the group's default rate on loans is around 1 percent."
Continue
reading this article.
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