Subject category:
Finance, Accounting and Control
Published by:
Social Enterprise Knowledge Network
Version: 7 June 2006
Length: 10 pages
Data source: Field research
Abstract
Portrays the difficult situation that Crear Vale la Pena (CVLP) underwent in 2002 as a result of the 2001 Argentine economic crisis. Also describes the corrective measures designed to overcome the crisis for the organization to continue its operations, considering its specific goals and the stakeholder groups involved in the Community Cultural Centers (CCCs) it had created. Describes CVLP''s evolution under Ines Sanguinetti''s leadership, as well as her vision of art as a transforming force for social identity development. The foundation first offered an art course embedded in a school support program. It later expanded into several art, communication, and social organization workshops delivered at CCCs. Funded by public and private donations, CVLP offered art education to over 4,800 students while training more than 45 teachers and 120 individuals in art-related crafts. In the late 1990s, Argentina succumbed to a severe economic crisis, featuring a significant rise in unemployment and poverty rates. A sharp drop in demand and, hence, in corporate and individual income consequently affected domestic nonprofits, especially those that relied on private and institutional funding. This economic and financial blow suddenly struck CVLP harder when its key donor, accounting for 80% of its revenues, announced a 50% contribution cut for the next period. To deal with this turn of events, CVLP''s executive committee met to analyze several courses of action using projected financial statements as a strategic tool.
Subject category:
Finance, Accounting and Control
Published by:
Social Enterprise Knowledge Network
Version: 7 June 2006
Length: 14 pages
Data source: Field research
Spanish language
Subject category:
Finance, Accounting and Control
Published by:
Social Enterprise Knowledge Network
Version: 7 June 2006
Length: 10 pages
Data source: Field research
About
Abstract
Portrays the difficult situation that Crear Vale la Pena (CVLP) underwent in 2002 as a result of the 2001 Argentine economic crisis. Also describes the corrective measures designed to overcome the crisis for the organization to continue its operations, considering its specific goals and the stakeholder groups involved in the Community Cultural Centers (CCCs) it had created. Describes CVLP''s evolution under Ines Sanguinetti''s leadership, as well as her vision of art as a transforming force for social identity development. The foundation first offered an art course embedded in a school support program. It later expanded into several art, communication, and social organization workshops delivered at CCCs. Funded by public and private donations, CVLP offered art education to over 4,800 students while training more than 45 teachers and 120 individuals in art-related crafts. In the late 1990s, Argentina succumbed to a severe economic crisis, featuring a significant rise in unemployment and poverty rates. A sharp drop in demand and, hence, in corporate and individual income consequently affected domestic nonprofits, especially those that relied on private and institutional funding. This economic and financial blow suddenly struck CVLP harder when its key donor, accounting for 80% of its revenues, announced a 50% contribution cut for the next period. To deal with this turn of events, CVLP''s executive committee met to analyze several courses of action using projected financial statements as a strategic tool.
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Subject category:
Finance, Accounting and Control
Published by:
Social Enterprise Knowledge Network
Version: 7 June 2006
Length: 14 pages
Data source: Field research
Subject category:
Finance, Accounting and Control
Published by:
Social Enterprise Knowledge Network
Version: 7 June 2006
Length: 10 pages
Data source: Field research