Financial planning
PATH Pembrokeshire
Background
The charity PATH – Pembrokeshire Action for the Homeless (formerly known as Pembrokeshire Care Society) was founded in 1979. PATH runs a holistic range of services to help lift people out of homelessness and break the chain of events that can lead to people finding themselves homeless. Widely respected for its experience and knowledge of the county's specific challenges, PATH has longstanding partnerships with Pembrokeshire County Council and 60+ other organisations. The charity supports 1,500-2,000 people every year and its services are open to anyone aged 18+.
Issue
Having previously been supported by Cranfield Trust with a strategic planning project in 2023, PATH’s Managing Director Malcolm Hooper contacted our Wales Manager early this year to discuss the charity’s needs. The impact of the ongoing cost-of-living crisis coupled with the acute Pembrokeshire problem of reduced rental housing stock made it increasingly difficult for vulnerable individuals to afford housing. This had led to unprecedented demands on PATH’s services. In addition, with most of the charity’s services funded by either grants or service contracts, the charity recognised they needed to become better equipped to work with funders.
The Solution
Our Wales Manager held an in-depth meeting with the charity’s Managing Director about the charity’s requirements. It soon became apparent that the charity needed a specific focus on financial planning, forecasting and reporting. Our Wales Manager matched PATH with Cranfield Trust business volunteer Malcolm Anthony, a highly experienced accountant with extensive experience of working with the public sector.
Impact
The Trustees met with Malcolm in March 2024 to agree an implementation plan for Financial Planning and Management Reporting procedures in good time for the 2025-2028 planning cycle. Malcolm worked closely with the charity’s Finance Manager to design and streamline reporting systems, produce a current year financial plan), in year income and expenditure reporting, and financial forecasting. Malcolm’s recommendations included the establishment of a Finance Committee to provide oversight of the financial direction of the charity. Recognising that this would be a new way of working for the charity, Malcolm volunteered to serve as a member for the committee’s first year.
PATH’s Managing Director Michael Hooper said:
“We are so grateful for the support and expertise of Cranfield Trust and of our volunteer Malcolm who has already made a significant contribution to the continued success and sustainability of PATH. Malcolm’s thoroughness and professionalism are evident in everything he does. His ability to explain complex financial concepts in a clear and concise way was a breath of fresh air. He has quickly understood the work we do and the challenges we face. I am delighted that Malcolm has also now joined us as a volunteer continuing to use his financial skills to support us.”
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