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Has the government underestimated the impact of public spending cuts on the not for profit sector?

02-24-2011 06:12 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: FRP Advisory

FRP Advisory teams up with Third Sector to ask finance professionals working in the not for profit sector about their key concerns as public spending cuts start to bite
FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm, has joined forces with Third Sector, the leading online and weekly print media title for charities, voluntary organisations and social enterprises, to survey financial directors and managers.
The survey, which is being run online by Third Sector at http://www.thirdsector.co.uk, aims to find out how public spending cuts are impacting not for profit organisations; are charitable activities being scaled back? Do trustees have the expertise to successfully navigate the challenges caused by public spending cuts? How supportive are the Charity Commission and Pensions Regulator when dealing with legacy pension schemes?
Talking about the reasons behind the survey, Jason Baker, partner at FRP Advisory said: "We are getting more and more enquiries from not for profit organisations faced with very serious and commercial issues – falls in government and fundraising income, reduced bank funding, large pension deficits and competition from private companies. We are keen to find out if these concerns are common across the sector, and, if so, how financial directors and managers are dealing with them, and whether they are aware of the rescue and turnaround options available to them."
Following the survey, which will run for four weeks until 24 March, the results will be analysed and an expert paper produced. "We are working with a renowned sector specialist to create an expert paper that will provide in-depth industry analysis, as well as practical advice and help for finance professionals based on our own knowledge and experience working with not for profit organisations," explains Jason.

About FRP Advisory

FRP Advisory LLP is focused on creating, preserving and recovering value for its clients.
The firm offers a comprehensive suite of services to the mid-market and financial community. These focus on enhancing the performance of businesses, as well as saving businesses in distress.
Services include: commercial & asset finance, corporate insolvency, restructuring, independent business reviews, interim management & placement services, personal insolvency & advisory, creditor services, insolvency investigation services and banking live-side support.
With 28 partners and 200 staff, FRP Advisory is one of the largest restructuring, recovery and insolvency firms in the UK, operating out of 9 regions including: East Midlands, Eastern Region, Kent, London, North East, North West, St Albans, Sussex and West Midlands.
To find out more, visit www.frpadvisory.com

10 Furnival Street
London
EC4A 1YH

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