As the Chair of the Governing Board of the Women’s Initiative for Self Employment, I first want to apologize for our lack of communications during this critical time, with the suspension of our classes and services. I want to provide an update on our current situation, and why we had to take the drastic actions we have taken. I also want to report on the actions we have been pursuing to seek a path forward that will enable the continuance of our programs and services….which are helping women achieve economic independence for themselves and their families through small business ownership. The board has been evaluating our fiscal situation over the past months. We determined that even as we have continued to restructure our organization to bring down our overhead expenses, we could not continue as an independent nonprofit that could deliver our valuable programs and services to meet the needs of the communities we have served for the past 25 years. With the current projected revenues from our donor base, we simply did not have resources to cover our ongoing expenses. Due to our fiscal situation, we have been forced to suspend our program services, while we actively began the search for larger, stronger partner who would ensure that our valued programs would continue to be delivered. We are currently engaged in active discussions with a potential partner who is aligned with Women’s Initiative priorities and mission and who would be well positioned to continue providing our services and programs to communities in the Bay area. I want to express my appreciation for all the amazing work and contributions of our staff, our clients and our funders and for all your continued support for this organization in meeting the greater needs of our communities. Please look forward to future updates on our situation. Yours, Deborah Barber Governing Board Chair, Womens Initiative
Posted on: Wed, 16 Apr 2014 19:30:25 +0000
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