Charity organization’s long-term business operations secured through acquisition of new funding
For several months we accompanied a German welfare association that was threatened with insolvency. This difficult situation was the result of non-transparent financial accounting and mismanagement of individual business areas. To better assess the operational situation, we prepared both an IDW S11 and an IDW S6 report. Based on this, we implemented measures to increase transparency and improve corporate management and control. In this context, we took over the management at short notice. We were thus able to guarantee the implementation of the measures through ongoing commercial support and regular controlling.
We also succeeded in increasing gross profit and reducing operating costs.
Thanks to our careful preparatory work and short-term liquidity planning, we were able to obtain new financing and thus guarantee the association’s business operations in the long term.
We are pleased that we were able to help the association and wish us continued success!