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Our Turnaround Experience
Financial Restructuring and Record Consolidation
Conducted a meticulous fact gathering effort to implement the first-ever consolidation of FOR’s financial records. Developed policies and procedures that met the time-honored system of checks and balances and made the auditors breathe easy. Consolidated 14 bank accounts to create more efficient cash management and tracking. Selected a software system and entered historical data that was maintained by seven different program directors in seven different formats. Implemented a financial system that promoted regular review of program financial viability. Created the new director of finance’s job description and assisted in the hiring process. Trained the new director on the selected system.
“Our financial restructuring was my first experience working with Lisa and her group. Her work established a strong foundation from which we were able to build. She more than proved herself and has remained a trusted friend and confidant for me and my executive staff.”
-Father Regis Ryan, Executive Director, Focus on Renewal
Organizational Liquidation, Dissolution and Vendor Negotiations
By undertaking an intensive one-day review, we identified the information available and needed to implement and monitor dissolution activities. Managed staff severances, vendor and lease negotiations, tax payouts and asset distribution. Handled all financial transactions and the final audit. Worked with the board in presenting a consistent and positive message about the purpose of the transition. Communicated with all parties (Accelerator staff, vendors, contractors and other stakeholders) with sensitivity and respect. Conducted meticulous and documented tracking to ensure that important details did not fall through the cracks and that the historical record of the organization was maintained in a way to facilitate reactivation (if desired) at any point in the future.
“I was impressed with the speed with which Lisa Olszak created an orderly cessation of operations and made certain all current obligations were met. She instilled a sense of confidence and reassurance in a very difficult undertaking. Her diplomacy and neutrality were invaluable.”
-Mark Peterson, President, Bridgeway Capital
Assessment of Earned Income Opportunities for the YouthBuild Training Program
Determined the feasibility of transitioning Goodwill’s YouthBuild training program into an earned income initiative in a specialty construction niche (such as weatherization or lead abatement in residential housing and development) with the potential to cover ~ $250,000 in project costs and provide net revenue. Analyzed size and growth of the market, trends and industry models Identified risks and opportunities along with potential niches.
“Quite frankly, I have not had great experiences with outside consultants so I start these types of engagements with some skepticism. I was pleasantly surprised, however, at the speed with which Lisa was able to assess our needs, develop a scope of work with well-defined deliverables and meet deadlines. I also appreciated her objective appraisal of our venture idea and recommendation that market demand did not merit moving ahead. She was thorough. Her recommendation was fact based. It was apparent that she had our best interests at heart.”
-Phyllis Bandstra, President/CEO, Goodwill Industries of the Conemaugh Valley
IMAGINE NATION Business Plan
Assisted the Museum in exploring opportunities to leverage their IMAGINE NATION brand. Developed a phased execution plan which limited risk while building on product momentum. Created a financial model with a sensitivity analysis that identified risks and contingencies.
“After working unsuccessfully with an outside consultant for a year and a half to develop our IMAGINE NATION business plan, we engaged Lisa who was able to do so in two short months. For the first time in a long time, we found someone who “got it” and was able to translate our initiative into a plan that we were proud to share with potential investors.”
-Judith O’Toole, Director/CEO, Westmoreland Museum of American Art
Social Enterprise Training
Developed and implemented a curriculum designed to assist organizations in assessing earned income ventures. Coached organizations in the importance of assessing market demand and translating that demand into a financial pro forma. Provided a reality check that supported the vast majority of organizations conclusion that the market demand was too weak to merit investment.
“The NLI’s partnership with Lisa is a terrific complement to our services. She is especially well-rounded and knowledgeable in assessing markets and the financial impact of organizations’ decisions. She’s good at not letting organizations head down any path that will jeopardize their core programs and services.”
-Michael Kumer, Executive Director, NLI & Associate Dean, School of Leadership and Professional Advancement
Worked with a board leadership team to implement the closure of the 130+ year old organization. Assisted in the disposal of all assets including the sale of antique furniture and holdings, along with the multi-structure facility. Acted as a sounding board and facilitator in helping the leadership team negotiate the difficult decision of how to reallocate the funds generated from the sale of assets and existing funds.
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