Charlotte, NC Apr 28, 2005

Non-Profit restructuring successful

Charles Page facilitates merger

The lack of funding and philanthropic dollars has caused many organizations to explore streamlining services and operations. Community Link and Ujamma's merger incorporates the two service components together and has saved $60,000 per year from the combined budgets.

"I have seen more strategic restructuring over the past couple of years than any time in the past 25 years." says Charles Page, CEO of Cool Spring Center. "A key element in the success of this merger was the development of trust and cooperation between the two organizations."

Moving forward

Strategic restructuring is an option more nonprofit organizations, interested in addressing organizational problems, responding to environmental changes, and strengthening services by leveraging the talents of their own and other organizations, are choosing.

Community Link's purpose is to help break the cycle of poverty by enabling working poor individuals and families to obtain and sustain safe, decent and affordable housing. UJAMMA, Inc. provides home ownership counseling and education for first-time homeowners. The merger has saved $60,000 per year from the two agencies' combined budgets. Page adds that merger is not the only option--organizations can save dollars by sharing office space or anything else that will help the agency serve clients and keep costs at the lowest level. For the full story and concepts use this link...

Issue One 2005 Marketwise (publication of the Federal Reserve Bank of Richmond)