"The whole relationship has been so great, it’s just really been nice to have that resource. A lot of nonprofits don’t have any other resources – people (banks) are often hesitant to take the risk. NAF gave me the confidence and reassurance that we were making the right choice."

Dianne Joachim, Executive Director at St. Croix Therapy

St. Croix Therapy provides traditional and non-traditional therapeutic services for children and adults who experience a wide range of physical and cognitive challenges. In 2010, the organization came to Nonprofits Assistance Fund after a flurry of leadership changes, resulting in lost information and some serious debt concerns. Two years later, in an effort to further address and consolidate debt, and under new leadership, they came to seek guidance on cutting expenses to better manage cash flow and consolidate the debt.  In both partnerships, NAF was able to provide St. Croix Therapy the loans and support they needed to make significant strides toward financial sustainability.

With a more stable financial position, St. Croix Therapy has been able to grow their services to serve more adults living with disabilities or injuries. Their next financial step has been purchasing their building in Hudson, WI from their long time landlord. They solicited a request to five banks, but needed to fund the 20% down payment. Executive Director, Dianne Joachim returned to Nonprofits Assistance Fund with a request to finance the 20% down payment.  Not only did NAF approve the request, NAF was able to work with the local bank to complete the process. “I have never been involved in such a smooth transaction,” Dianne Joachim reflects on the entire process.

Buying their building was the best financial decision for St. Croix Therapy. They now save over $9,000 a month on rent expenses, and will save more with a tax exempt building. With these new savings, Dianne was able to invest in staff and focus on better serving clients. Dianne also stressed how this savings greatly impacts their cash flow – which lifts a huge burden off their shoulders. The organization is simply much more stable and they look forward to sharing and replicating their training model to other training centers across the country.

Photo credit: St. Croix Therapy