Detroit Science Center

Situation

Detroit Science Center (“DSC” or the “Company”) is an educational, hands-on museum inspiring visitors to learn about science, technology, and engineering.

The Detroit Science Center is organized as a Michigan Non-profit Corporation and is exempt from Federal Taxes under Section 501(c)(3) of the Internal Revenue Code.

Solution

The Company retained Amherst Partners to assist in a refinancing. Amherst discovered a number of operational and financial issues which needed to be addressed.

Due to the financial challenges Amherst recommended that DSC close the museum until a restructuring plan could be put in place.

Results

Amherst assisted in developing the restructuring plan and the management reports to provide meaningful and relevant information.

The Company emerged out of the reorganization as a new entity with a clean balance sheet. Amherst Partners was successful in leading the Company through the refinancing and obtaining favorable terms.