It's always gratifying to receive an award for your work — especially when you had no idea you were even nominated. But that was the case recently when our Supporting Strategies | Chicago Far West Suburbs learned we had received the Turnaround Management Association (TMA) Pro Bono Transaction of the Year award for our role in helping a distressed nonprofit straighten out its financials and position itself for sale.
Assessing a Community Asset
West Suburban Senior Services (WSSS) in Bellwood, Illinois, had long been a valuable community resource. The nonprofit has provided adult day wellness support for seniors in western Chicagoland since 1972.
When some of its government funding dried up, however, several key executives and staff members departed. WSSS fell behind and missed several deadlines. It would be very difficult for any organization to find a buyer with those unmet obligations hanging over it.