Press releases

Advisors for Change (AFC), a financial services firm headquartered in Denver, Colorado, that provides a full range of nonprofit financial management services tailored to each organization, transitioned into a worker cooperative on January 1, 2025, with help from Project Equity, a national leader in employee ownership transitions.

Becoming a worker-owned cooperative is a natural next step for AFC, reflecting this company’s deep-rooted commitment to transparency, empowerment and prioritizing people. For nearly 20 years, they have collaborated with and learned from nonprofit partners who exemplify key cooperative principles, including democratic governance, community care and solidarity. This shift strengthens AFC’s alignment with the nonprofits they serve, reinforcing their shared values and mission.

When considering her exit strategy options, AFC’s selling owner, Amy McPherson, knew she did not want to sell her business to an outside buyer, but instead, find an alternative that provided ownership to the company’s employees. “I wanted AFC to keep the same values and principles,” McPherson said. “I have always valued transparency and cooperative leadership and we’d been intentionally building a team of employees who were open to the idea of shared ownership. I was particularly interested in maintaining our strong people-focused approach to our work that empowers the nonprofits we serve. Converting AFC to a worker-owned cooperative was a logical progression for me and the team.”

McPherson will continue to lead as CEO, supported by a Board of Directors that includes Christine McCorkle (president), Krystal Thompson (vice president), Becky Scherr (treasurer), and Renee Osborn (secretary), in addition to McPherson herself. This inaugural Board, composed of AFC employees, will shape and refine the organization’s strategic direction while ensuring that all cooperative members remain informed, engaged and actively involved in governance. All 19 employees have become members.

“Being a worker-owned cooperative rewards the people that make AFC the best in our field!” McPherson shared.

“Working at AFC has shown me that there are good people creating workplaces where strengths are valued, voices are heard, and equity is more than idea,” said Thompson.

“I’ve been thrilled to help lead the employee transition process for AFC and provide hands-on support throughout the process,” Courtney Kemp, a Senior Client Services Manager at Project Equity, said. “From the beginning, it was clear that AFC’s culture, mission and values aligned perfectly with cooperative principles. As a result of the selling owner’s choice to sell the company to employees, AFC is now owned and controlled by–and for the benefit of–the people who work there. Members have the opportunity to sit on the Board of Directors and participate in profit-sharing commensurate with their contribution to the cooperative. I couldn’t be more excited for the future of AFC.”