Non-profit organizations faced major challenges during the economic downturn. As economic conditions declined, non-profit contributions and donations declined as well.

Conway MacKenzie’s Not-For-Profit Industry group helps organizations stay financially secure while helping them to fulfill their missions. From financial expertise to operational guidance, we help not-for-profit organizations be more efficient, more successful, and more effective in all that they do.

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Creating a Healthy Financial Foundation for a Not-for-Profit

The Engagement

Conway MacKenzie was engaged by a large Midwestern U.S. church. The client had weekly attendance of approximately 4,000. The church had approximately $20 million of debt that was incurred to build a church complex. The mortgage was obtained when real estate mortgages were very easy to come by. The level of debt undertaken was not prudent. The church also experienced a drop off in attendance due to both the economy and some negative local press.

Our Role

Conway MacKenzie served as financial advisor to the church, and helped the church analyze its finances and operations.

The Result

Conway MacKenzie accomplished the following: assisted the company to develop a short-term cash forecast and a long-term debt service analysis; reviewed forecasts and cost structure and drove cost cuts to reduce the cost structure of the church by 40%; negotiated a forbearance with the bank and sought market opportunities to restructure the debt; renegotiated several notes outstanding with church members; and worked with church’s board of directors related to strategy.

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Creating a Healthy Financial Foundation for a Not-for-Profit | Conway MacKenzie