Peter Lewis, chief executive of the IoF, said changes included a new permanent finance officer and the recruitment of a full-time finance manager to replace the head of finance, who left as part of the restructure.
The institute’s small charities programme had also been "embedded" into its core programme, which resulted in the loss of one staff member, Lewis said. Media work was now being handled by the policy and communications teams after the departure of the media manager. A new policy officer had been recruited to replace two previous policy officers.
Lewis said the restructure was necessary because of a reduction of its grant from the Office of Civil Society, which had fallen from £250,000 last year to £136,000 in 2013/14, and because the institute’s irrecoverable VAT on business activities had gone up to £179,000 in 2012/13 from £122,000 the previous year.
"We are pleased to say that the restructure consultation is now over and we have made the necessary changes to strengthen us for the future through four members of staff opting for voluntary redundancy," he said. "This puts us in a very strong position to move forward," he said.