The Waikato branch of the SPCA will lose staff and some services but will not close down, after running up losses of almost $400,000.
An unknown number of its 20 Waikato staff will be made redundant and some services, such as free veterinary care, may be cut back.
The national charity has sent staff to the Waikato branch to set up a recovery plan.
SPCA chief executive Ric Odom said the loss may be the highest any centre had suffered.
It was as a result of lower than hoped for donations and higher than expected operational costs after moving into new premises.
He said although donations did fluctuate, the Waikato situation was very unusual.
"The lessons we are going to learn from this is around should the national body have a much closer role, and a more active role, in monitoring the finances of the various branches."
He said that would mean the charity could step in more quickly if it saw there were problems arising with the local branches.
