Turnaround Management Association

What Turnaround Management Association does

The Turnaround Management Association (TMA) is a 501(c)(6) nonprofit professional association founded in 1988 and headquartered at 300 South Wacker, Suite 2400, Chicago, Illinois. TMA serves nearly 10,000 members across 54 chapters worldwide (34 in North America), comprising turnaround practitioners (43% of membership), attorneys (20%), lenders and bankers/workout officers (14%), other restructuring professionals such as receivers, trustees, appraisers, and academics (20%), and investors (3%). Its mission is to strengthen the global economy by supporting professionals who help distressed businesses recover, and the association publishes the Journal of Corporate Renewal and offers networking, education, certification, and industry recognition.

TMA operates a membership-based revenue model with four tiered annual dues categories: Professional Member ($475/yr), NextGen for members 40 and under ($250/yr), Academic/Government ($125/yr), and Free Student membership. Revenue is generated from membership dues, three major annual conferences (TMA Annual Conference, TMA Distressed Investing Conference drawing ~1,000 attendees, and TMA NextGen Leadership Conference), regional and chapter events, Certified Turnaround Professional (CTP) certification application, exam and renewal fees, advertising, and a sponsorship/partner ecosystem of more than 15 firms including AlixPartners, Hilco Global, Gordon Brothers, CohnReznick, and Thompson Coburn LLP. Educational products include the TMA Restructuring Boot Camp, TMA Learning Link (on-demand), and TMA Turnaround Square for continuing education, alongside sub-brands TMA NextGen (under 40) and TMA NOW (Network of Women).

The association is led by CEO Christine Melendes (effective March 3, 2026) and Global Chair Rachael Smiley, governed by a Board of Trustees composed of member professionals. TMA has no parent company, no disclosed institutional investors, and no venture or private equity ownership; ownership is collective among its members. Operationally TMA maintains 51-100 employees, an event-driven and sales-led go-to-market, and chapters across North America plus international general membership in markets outside the chapter network.

Name

Turnaround Management Association

Legal name

Turnaround Management Association

Website

https://turnaround.org

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Membership Dues: Annual membership fees collected from professional members at $475/year, NextGen members at $250/year, and Academic/Government members at $125/year, with free student membership available.
2. Event and Conference Revenue: Revenue generated from major conferences including the TMA Annual Conference, TMA Distressed Investing Conference, and TMA NextGen Leadership Conference, along with regional chapter events.
3. Certification Fees: Fees for the Certified Turnaround Professional (CTP) designation program including application fees, examination fees, and annual renewal fees for designation holders.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

TMA is a professional membership association that provides networking, education, certification, and conference services to turnaround, restructuring, and corporate renewal professionals. The association operates a global network of 54 chapters serving nearly 10,000 members through tiered annual memberships, the Certified Turnaround Professional (CTP) certification program, the Journal of Corporate Renewal publication, an online member directory, and major conferences including the TMA Annual Conference, TMA Distressed Investing Conference, and TMA NextGen Leadership Conference.

Product overview

The Turnaround Management Association (TMA) operates as a professional association offering a unified membership-based platform rather than a commercial product. The core offering centers on TMA Membership, which provides access to professional networking, the CTP Certification program, local chapter events, and the Member Directory. Educational products include the CTP Certification pathway (with TMA Restructuring Boot Camp, TMA Learning Link On Demand, and TMA Turnaround Square for continuing education), while event products encompass the Annual Conference, TMA Distressed Investing Conference, and TMA NextGen Leadership Conference. The organization also publishes the Journal of Corporate Renewal, produces TMA Talks video content, and runs the TMA NOW (Network of Women) and TMA NextGen (Under 40) sub-brands for targeted member segments, all supported by a 54-chapter global network.

Differentiator

Problem solved

Functional benefit

Brands

• Certified Turnaround Professional (CTP): Professional certification program for turnaround and corporate renewal professionals administered by TMA's Certification Oversight Committee.
• Journal of Corporate Renewal
• TMA NextGen
• TMA Network of Women (TMA NOW)

Products and services

• TMA Membership Tiered annual professional membership in the Turnaround Management Association offering networking access to nearly 10,000 members across 54 chapters, member directory access, eligibility for the CTP certification pathway, conference registration discounts, the Journal of Corporate Renewal, and chapter-level engagement for turnaround and restructuring professionals.
• CTP (Certified Turnaround Professional) Certification Professional certification program for turnaround and corporate renewal professionals requiring application, examination, and ongoing continuing education, administered by TMA's Certification Oversight Committee with annual renewal fees for designation holders.
• TMA Restructuring Boot Camp Intensive in-person training program designed to prepare candidates for the CTP certification examination, offered as an add-on for members seeking professional development in turnaround and restructuring practice.
• TMA Learning Link / On Demand Online self-paced education platform providing on-demand courses and educational content for continuing professional development of turnaround and restructuring professionals.
• TMA Turnaround Square Continuing education platform offering professional development resources and on-demand content enabling members to maintain their CTP certification and advance their turnaround expertise.
• TMA Annual Conference Flagship annual conference bringing together turnaround professionals, attorneys, accountants, advisors, and investors for networking, education, and deal-making opportunities in the corporate restructuring industry.
• TMA NextGen Leadership Conference Annual leadership conference for members aged 40 and under, featuring networking, professional development, and a Boot Camp Add-On for participants pursuing CTP preparation.
• TMA Distressed Investing Conference Annual conference bringing together capital providers, attorneys, financial advisors, and restructuring professionals to deepen relationships, execute transactions, and generate insights into distressed investing and turnaround.
• Journal of Corporate Renewal Monthly professional trade publication (ISSN 1094-0472) published by TMA covering corporate renewal, turnaround management, and restructuring topics with industry insights and member thought leadership.
• Turnaround & Transaction of the Year Awards Annual industry awards program recognizing outstanding achievements in turnaround management, distressed investing, and corporate renewal transactions, including the Industry Hall of Fame and the TMA Chair's Award.

Quantifiable outcome

• Over 1,400 companies currently in business rescue in South Africa alone (February 2025 data)

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Risk Management Association (RMA): Member-driven association serving commercial lending and credit risk professionals at banks. Comparable to TMA in serving the lender/workout officer segment (14% of TMA membership), with similar chapter network model, certification (Credit Risk Certification), and event-driven GTM.
• Association of Insolvency & Restructuring Advisors (AIRA): National membership organization for professionals serving in bankruptcy and restructuring cases. Directly comparable to TMA in serving turnaround advisors and restructuring professionals, with overlapping membership profiles and similar educational/certification programming.
• American College of Bankruptcy: Honor society and professional association for bankruptcy and insolvency attorneys and judges. Comparable to TMA in serving the attorney segment (20% of TMA membership), with a more selective/elective membership model focused on the legal side of restructuring.
• National Association of Credit Management (NACM): Trade association for commercial credit and collection professionals with affiliated trade credit groups. Overlaps with TMA's lender and workout officer segments in distressed receivables, workouts, and creditor-side restructuring, with a similar chapter-based membership model and education/certification programs.
• American Bankruptcy Institute (ABI): Premier U.S. multi-disciplinary membership organization for bankruptcy and insolvency professionals, including attorneys, turnaround professionals, accountants, and academics. Directly comparable to TMA in member profile, certification programs, and conferences, though more focused on bankruptcy litigation and the legal side of restructuring.
• Association for Corporate Growth (ACG): Global association for middle-market M&A, corporate development, and dealmaking professionals with 90+ chapters. Comparable to TMA in membership-driven structure, chapter network, conferences, and member profile of advisors, investors, and operators involved in corporate transactions including restructurings.
• INSOL International: Worldwide federation of national insolvency and restructuring associations and individual insolvency practitioners. Highly comparable to TMA as a global membership body serving restructuring professionals, with a more international and less U.S.-centric footprint.
• International Women's Insolvency & Restructuring Confederation (IWIRC): Network of women professionals in the restructuring and insolvency industry with global chapters. Comparable to TMA in serving the same professional community, with a focused demographic mission similar to TMA NOW, and overlapping member base in bankruptcy and turnaround practices.

Broad incumbents

• AICPA (American Institute of CPAs) Restructuring Section: National professional association for CPAs with a dedicated Reorganization & Restructuring Section. Comparable to TMA in serving the accountant and financial advisor segments of the restructuring profession, but operates as a broader professional body rather than a turnaround specialist.
• Financial Executives International (FEI): Professional association for senior financial executives (CFO, VP Finance, controllers). Broader incumbent that overlaps with TMA's turnaround practitioner and accountant members when those professionals serve in distressed or restructuring engagements, but FEI serves finance executives broadly rather than specializing in turnaround.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/tmaglobal
• Facebookfacebook.com/364540964747
• LinkedInlinkedin.com/company/turnaround-management-association
• Instagraminstagram.com/tmaglobal
• TikToktiktok.com/@tmaglobal

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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M&A

Investments2 records

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Frequently asked questions about Turnaround Management Association