Partner Article

Recruiter Morgan Hunt explores the effect of M&A on the finance function in charities

The role of the finance director has changed in not for profit sector, says recruitment firm Morgan Hunt

Under the influence of mergers and acquisitions (M&A) in the charities and not for profit sector the role of finance director is changing. The economic downturn affected not just business; the third and voluntary sectors were also hard hit.

“There are around 180,000 charities registered in England & Wales and most felt the pinch when funding channels either dried up or failed to meet their contributions, to the point that many had to close their doors or re think how they would exist” says Paul Thomas, Director at Morgan Hunt.

The big squeeze on funds forced many charities to think outside the box on how they could function and fulfil their stated mission. Many charities looked to form partnerships, collaborations or mergers with other charities. This makes the finance function a lot more complex. The perception of a part-time, retirement role, now looks somewhat different where a new kind of hybrid finance director is needed for the new structure.

“We are providing consultative services to charities on re-defining the new attributes required. But there is one thing that does not change and that is compassion and a personal alignment with the vision and values of the two causes. The finance director would need to have empathy with these to help each organisation to continue with their growth and mission.” says Thomas.

Morgan Hunt offer consultative recruitment services to the charity and not for profit sectors and work in partnership with the Dame Kelly Holmes Legacy Trust to support disadvantaged young people who are not in employment, education or training (NEET) to ‘Get on Track’ through a number of initiatives.

This was posted in Bdaily's Members' News section by Morgan Hunt .