Let Us Not Forget the Non Profits that so Need Restructuring

As Restructuring professionals, we can never forget that the long term health of a Restructuring business is dependent on a good economy. Oh sure, there are deluxe profits to be made in dealing with the meltdown that is currently occurring. But, if one cares at all about humanity, one cannot have any joy about the prospects of another 3-5 years of the kind of misery that is evolving. It is not joyous to see people losing their homes, retirement accounts being decimated, etc., etc.

The pain in the streets of America is severe and getting worse.

Part of the pain that I see playing out is the terrible squeeze on our non-profit sector which plays such an important role in supporting the needs of our society that are not adequately addressed by governmental programs.

Non-profits have had their endowments crushed by the stock market declines. Private sector giving, at both the corporate and personal level, is declining. Governmental support is being quickly reduced. And, all this at a time that demand for assistance is climbing rapidly.

As an industry poised to benefit from the downturn will the Restructuring profession lead the way in supporting our non-profits? Or will the profession, by and large, be focused on maximizing personal wealth and then hoarding that wealth?

All of us need to consider how we can help these organizations. Beyond money, more than ever they will need volunteer labor. And, these organizations will also need talent that can help them restructure, and do so quickly.

This is just another area where the Restructuring profession can be instrumental in making a difference. But, will they?