How to know when – or if – your Sponsored Project is ready to separate
No matter where you are in the separation process, the first thing you should do is download our free PDF Separation Checklist and read our four-part blog series on the separation process, starting here.
After you do those things, if you are evaluating separating from your sponsor, our Separation Readiness Audit should be your next step.
The Separation Readiness Audit is a 360° assessment of your organization through the lens of what it needs to be successful, both through the separation process and as a standalone nonprofit.
The Audit starts with a detailed inspection of your organization’s current capacity and readiness to stand on its own. From current staff and the services your fiscal sponsor provides to your potential service providers and Advisory Board, we’ll dig into your organization through the lens of what you need to have, and what you need to do, to be ready if and when you decide to separate. In total, we examine nine functional areas of your operations including the back office as well as things like program, development, leadership, governance and technology.
Your Audit includes recommended next steps and, if our recommendation includes moving ahead with separation, you’ll receive a customized roadmap and a suggested timeline, based on your current situation.
From start the finish, this process usually takes about 8-12 weeks. And after going through our Audit process, you will come away with a clear assessment of your organization’s strengths and vulnerabilities related to becoming an independent nonprofit:
- In which areas are you well positioned?
- What are the areas where you need to build capacity or bring in outside experts?
- What should you be concerned about or give extra attention to?
- What are your most important next steps?
- How much time should you plan for your separation?
- What sort of workload can you expect related to the separation process?
Your Readiness Audit will reduce wasted time by allowing you to focus on the areas that need the most attention, and, just as importantly, it will provide you, your advisory board and your funders with the peace of mind to know it’s going to take for your organization to successfully separate.
- The fee for the Separation Readiness Audit varies but is usually between $10,000-$14,000
- Length of Engagement: Usually about 8-12 weeks, depending on availability (yours and ours). If you need Audit turned around more quickly, let us know and we’ll see what’s possible.
Still have questions about the Separation Readiness Audit? Please see the FAQ below or email us at hello@schulmanconsulting.com.
And if you’re ready to get started, click the blue button below to get schedule your initial phone call.