A growing number of not-for-profit entities are facing financial challenges that may require restructuring of debt loads. Their directors, who may have joined to support the NFP's mission, abruptly find themselves tackling unique, often high-stakes issues. NFP boards must confront the realities of financial distress early and in a fully informed fashion.
In our new Guide to Restructuring Issues for Not-For-Profit Companies and Their Directors, we examine key issues that NFPs may confront when they experience financial uncertainty, and we address how NFP restructurings may differ from restructurings of for-profit entities.
We look at such concerns as the duties of NFP directors, which may be affected when an NFP faces financial distress; the implications in the tax and regulatory areas; approaches to the bankruptcy process; tips to determine what may constitute a successful restructuring in light of the NFP mission; and more.
Boards acting properly in distressed NFP situations can preserve the organization's mission at the same time as resolving its problems. With this handbook, we offer suggestions toward that goal.
Learn more in our Guide to Restructuring Issues for Not-For-Profit Companies and Their Directors.