Skip to main content
Category

Financial Management

Jun 25
Love0

How to support NFPs through the cost-of-living crisis

By Financial Management

NFPs in Australia and New Zealand face rising costs, growing demand, and tighter funding due to inflation. While individual donations remain steady with strong donor communication, corporate and government funding is declining, increasing competition.

In response, NFPs are boosting fundraising, relying more on volunteers, and focusing on financial resilience through better budgeting, reserves, and diversified funding. Clear communication of impact and reduced dependence on government support are key to long-term sustainability.

Read more here

Sep 12
Love0

Profit’s not a dirty word for not-for-profits

By Business, Financial Management, Revenue - Other

Professor David Gilchrist of the Centre for Public Value has advised not-for-profits (NFPs) and charities to reconsider their stance on profitability, arguing that generating a profit is crucial for their sustainability. He explained that while profit differs from surplus, with the latter being excess funds not required for operations, profits are essential for maintaining and expanding an organisation’s balance sheet. Profits enable NFPs to remain solvent, adapt to policy changes, and replace assets over time.

Gilchrist emphassed that there should be no cap on profitability for NFPs, as long as profits are reinvested into the organisation’s mission rather than distributed. He also highlighted the need for these organisations to understand their true costs and manage funding gaps to ensure they can meet their operational and strategic needs effectively.

READ MORE HERE

Jun 05
Love0

2024 Gig Economy Statistics: Unveiling 85+ Remarkable Insights

By Business, Financial Management

The gig economy in the United States saw significant growth, with 24.57 million freelancers recorded by the end of August 2021. Florida led the states with the highest number of gig workers, followed closely by Texas and California. About 57% of temporary workers spent over 40 hours per week on contract jobs, earning 58% less than full-time employees without benefits. Blockchain and AI specialists were among the highest earners in the gig economy. The public sector employed up to 14% of freelancers, while approximately 170 companies in the U.S. hired gig workers. Notably, platforms like AnswerConnect and Toptal emerged as major players in the virtual workspace. Survey data revealed that 99% of remote workers intended to continue working remotely, while 64% preferred the freedom of working as free agents. Additionally, 86% of gig workers expressed concerns about security and health coverage, while over 50% stated they would not return to traditional 9-to-5 jobs. Demographically, women comprised 63% of the contract labor force, and Generation Z constituted the largest group of gig workers at 50%, followed by millennials at 44%. The gig economy was projected to continue expanding, with estimates suggesting it could reach 86.5 million workers by 2027, reflecting evolving attitudes toward flexible employment arrangements.

READ MORE HERE

Jun 05
Love0

Rising Tide: Non-Profit & Philanthropic Responsible Investing

By Business, Financial Management

2023, Koda surveyed charitable, non-profit and philanthropic investors across Australia in relation to responsible investing and impact investing. With the aim to collect, analyse and share information not currently available to Australian for-purpose investors or their advisers.

By sharing the results of the survey they aim to:

  • Shine a light on how charities, non-profits and philanthropic foundations approach responsible investing and impact investing.
  • Highlight opportunities and barriers that exist for for-purpose investors in this context.
  • Help fund managers and investment advisers better serve their for-purpose clients

READ MORE HERE

May 16
Love0

Budget brings some relief for struggling Australians

By Business, Financial Management

The federal Budget this week prioritised measures aimed at alleviating the strain of living costs, responding to calls from various sectors addressing issues like homelessness, housing affordability, and electricity costs. Treasurer Jim Chalmers highlighted a $9.3 billion surplus while unveiling initiatives such as a power bill rebate, increased rental assistance, tax cuts, student debt reduction, and funding for domestic violence support and aged care. However, despite some welcome measures, organisations like the Antipoverty Centre, Mission Australia, and Anglicare expressed disappointment, emphasising the need for more substantial support, especially for disadvantaged Australians. Additionally, concerns were raised regarding the lack of sufficient support for mental health and environmental issues, indicating that while the Budget addressed some immediate concerns, deeper and more comprehensive solutions are needed for lasting impact.

READ MORE HERE

May 16
Love0

Budget is great intel for not-for-profits

By Business, Financial Management, Other

Not-for-profits should closely examine the federal Budget for opportunities to help solve some of the biggest challenges facing the country, according to a leading social sector economic commentator.

While acknowledging the budget’s efforts to assist struggling sectors, Emma Dawson, the executive director of the Per Capita economic think tank, urges not-for-profits to strategically engage with government policies, highlighting their role in providing solutions and advocating for long-term structural reforms to address economic inequality, tax concessions, and housing affordability.

READ MORE HERE

May 01
Love0

Don’t Wait for a Crisis to Reduce Costs

By Business, Financial Management

Leaders who take a hard, holistic look across their cost base will find opportunities to reposition their companies for future growth. But they must act boldly and decisively to achieve a competitive cost position.

In this article, the authors discuss five critical actions that CEOs and other executives can take to tackle cost challenges.

Collectively, these measures help organisations sustain efficiency and redirect resources to invest in innovation, promote growth, and capture value..

Read more here

Sep 01
Love0

ProBono: 2023 NFP Salary Survey​

By Business, Financial Management

The Salary Survey has been helping not-for-profit organisations for 11 years by mapping out trends and offering in-depth analysis. ​

The report allows individuals and organisations to effectively benchmark their remuneration practices, allowing you to offer appropriate salaries to new employees, and manage the retention and satisfaction of existing employees.

Read more here

Sep 01
Love0

Reviewing charities’ financial information and annual financial reports​

By Board & Governance, Business, Financial Management

Each year, charities must submit an annual return to the ACNC – the Annual Information Statement. Alongside their Annual Information Statements, medium and large charities must also submit an annual financial report (AFR), which must comply with the ACNC’s requirements for financial reports.

The ACNC emphasises the importance of voluntary disclosure of information in AFRs to enhance transparency, accountability, and public trust in the charitable sector, and they regularly review the quality and accuracy of these reports to improve reporting compliance and guidance.

Read more here

Close Menu