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Associations and not-for-profit organizations (not-for-profits).

Associations and not-for-profit organizations (not-for-profits) occupy an important place in society.

In addition to challenges specific to their cause, associations and not-for-profits must also carefully manage their financial situation to continue their short-, medium-, and long-term activities.

Unsurprisingly, the challenge of funding remains a critical element at the heart of many of the concerns of these associations and organizations.

Financial solutions for associations and not-for-profits.

 

Associations and not-for-profits generally rely on philanthropic actions and grants as their main sources of revenue, many of which, naturally, are uncertain.

In case of financial difficulties, the board of directors of an association or not-for-profit may consider the following solutions:

Our Licensed Insolvency Trustees (LIT) are available to assess the financial situation of your association or organization, and answer your questions about possible solutions.

Gingras professionals have been reliable partners of associations and not-for-profits struggling with financial troubles, since 1980.

Ginsberg Gingras, supporting associations and not-for-profits.

The objective of the first meeting with the Ginsberg Gingras professional is to clarify the situation and find a solution to the financial problems of your association or not-for-profit.

Here are the main steps included in this meeting :

Compile a detailed and realistic balance sheet.

  • The purpose of this financial exercise is to determine the cause of the problem and identify possible solutions.

Confirm the viability of the organization.

 

  • Having heard the recommendations of our trustees, you can determine whether the financial difficulties of your association or not-for-profit are temporary or long-term. You will also be better equipped to evaluate the probability of returning to a viable situation.
    In this case, your Ginsberg Gingras professional will recommend a series of actions you can take to improve the finances of your association or not-for-profit. You might even obtain some additional advice, such as fundraising.

Accompagnement pour la mise en application de la solution

  • Regardless of your situation, our professionals will advise you of the best solution and explain the results you can expect. You, your board of directors, and anyone else involved in making decisions will have the information needed to make an enlightened choice about the future of the association or not-for-profit.
  • Once you start implementing the solution, you can be assured of the full collaboration of our team to attend to the interests of your association or organization.
  • Alternatively, an association or not-for-profit struggling with major financial difficulties may consider bankruptcy as a last resort. In these circumstances, Ginsberg Gingras trustees will take control of the responsibility of administering the process in accordance with best practices.

Putting an end to financial problems.

 

If the association or not-for-profit you manage is experiencing financial difficulties, advisers at Ginsberg Gingras can help you search for a solution.

Our professionals will propose an effective plan of action while always considering your needs and requests. Please understand that bankruptcy is only proposed as a last resort. Our priority is to find an option that will enable your association or organization to repay its debts.

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