Is it time to merge?
COVID-19 has left many non-profits unsure of their ability to meet their mission, leaving Management and boards to consider a merger or affiliation. If your organization is at that point, answer these questions to enhance your likelihood of success.
1. What do we need from a merger partner? – Capital? Cash flow? Management expertise? Continued ability to operate?
2. What do we offer to a merger partner? – Clients? Cash? Community relationships?
3. What do we want from this merger? – Soft landing for management team? Retention of staff?
4. What are we willing to give up? – Control? Board seats? Name/Identity?
5. What are our deal breakers? – the non-negotiables that will stop the process
Realistically answering these questions will provide a road map to discussions with a potential partner.
My next post will discuss a process and timeline for merger/affiliation.