With its top brass dismissed following an inquiry by the board of directors, the nonprofit Wounded Warrior Project (WWP) is expecting to undergo major restructuring, according to reports.
WWP has been the beneficiary of magnanimous donors as its income reached around $400 million in the fiscal year ending in September, as reported in a filing to the Internal Revenue Service. The recent year’s revenue reflects a 17% increase over last year’s income.
The nonprofit is undertaking reforms as its spending practices came under media scrutiny in recent months.
It currently employs almost 600 employees, but staff and pay cuts are expected once the new chief executive Michael Linnington takes over the helm. Linnington assumed his position in July and will be under assessment for 60 days.
“The Organization is in the process of evaluating programs and services to ensure that they are delivered with even greater efficiency, as well as assessing its organizational structure to ensure that it maximizes all resources available. Management anticipates that certain roles will be eliminated as a result of this assessment and details of the restructuring will be announced in September 2016. Management does not believe the restructuring will have a material adverse impact on the accompanying consolidated financial statements,” WWP said in a statement.
