The professionals at Leeb Partners have produced significant, tangible, and measurable results for nonprofits many times. Fred Leeb’s first client, when he started his own turnaround firm in 1994, was a nonprofit and he has been building a successful track record in working with nonprofits ever since. He has developed this track record during the most difficult times, when an organization has had to pull itself up by its bootstraps. During these stressful conditions, we repeatedly have been both trusted advisors and an interim CEO’s. We have developed a deep understanding and sensitivity from working with troubled nonprofits over many years. Leeb Partners, however, operates with a sense of urgency that will cause everyone to focus, pull together and accelerate their speed to achieve the results you need for success.
Understanding from Being a CEO and Years of Corporate and Nonprofit Turnarounds
Instead of just preparing financial reports and recommendations, Leeb Partners also is ready to help bring the project to fruition. Our experiences being an interim CEO, have given us a much deeper level of understanding of a wide range of critical issues and their practical solutions. We know the strains of operating when many stakeholders already may be very frustrated, particularly when cash is tight. We also understand that success is not solely about financials. Financials are just a beginning point and one of the methods of keeping score. We bring to the table years of experience in working on both nonprofit and corporate turnarounds. We understand which of the successful corporate business techniques also will work on very similar nonprofit issues.
Winner of the Turnaround of the Year Award
Fred Leeb is the winner of the Turnaround of the Year Award from the Detroit Chapter of the Turnaround Management Association for his work to orchestrate the successful turnaround of Starfish Family Services located in Inkster, Michigan (please see the following Case Study for details). Bill Mitchell, the Starfish Chairman of the Board, said, “We could not be happier with the results achieved in such a relatively short time…. Our relationship with our bank is excellent. Our relationship with the various government agencies that fund our operations has greatly improved as our financial condition has improved. Our auditors are happy with the turnaround…. You were a true partner with the Board and we are very grateful. I can recommend you without reservation….”
We quickly solve chronic problems that nonprofit business organizations may face from having:
- Gaps in communication between the board and the staff
- A budget in place but no effective action plans or longer-term business plans, sometimes causing leaders to jump from crisis to crisis
- Intensifying competition; no obvious competitive advantages
- Nonprofit management resources that are spread too thin over too many programs
- Losses of good board members and volunteers
- No resources for reinvestment, training or consulting expertise
- The need for a nonprofit interim CEO or nonprofit interim executive director
In today’s economy, many nonprofits are facing intense pressures from increased community needs, escalating costs and much more competitive fundraising environments. On top of that, credit and liquidity problems are at an all-time high. In addition, it is highly likely that competition for board members, donors, clients, government grants, employees, territory, and supplemental businesses will only become even more difficult in the future.
We Can Help Even When You Think There are Little or No Resources
Leeb Partners focuses on nonprofit consulting situations where people must get out of the mode of fighting fires, working with little or no cash and not having the time to implement fundamental change. We generally can help even when nonprofit managements think they no longer have the resources to go forward.
Leeb Partners specifically specializes in turnarounds and crisis management for nonprofits. We will:
- Focus on and increase cash flow—work with you to develop week by week projections and work continually to improve accuracy and eliminate “surprises”
- Rebuild credibility with all stakeholders including board members, secured creditors, vendors, employees, donors, foundations, grantors, and customers; strengthening and adding new lines of communication
- Understand the competition; improving competitive advantages; developing new and diversified revenue sources
- Sort through either the proliferation of data or the lack of data to help develop a sound strategy for success
- Develop and implement feasible and practical business plans
- Stop the jumping from crisis to crisis and fire to fire
- Make more aggressive cost reductions and increase prices whenever possible
- Eliminate nonproductive assets and employees to improve results
- Conduct due diligence and help in negotiations
- Obtain refinancing
- Use unbiased, thorough analyses to resolve sensitive issues that may have festered between board members, vendors, or employees
- At your request, refer in other specialists with proven track records who will contribute to the new winning team
- Negotiate with creditors
- Collect accounts receivable
- Operate, if necessary, as an interim CEO to be the catalyst for change and instill a sense of urgency in the organization