Financial Management of Non Profit Organanisations and Charities
Social injustice, income disparity, refugee crisis and natural disasters are on the increase in Australia. Hence the demands for the services provided by non-profit organisations are increasing as never before. However, funding these demands is becoming a concern for many organisations. The amount of money that people worldwide give to charity is growing but the rate it is growing has slowed down – 4.9% in 2015 compared to 7.8% a year ago (Probono:2015). Changing government policy, rising cost of living, elevated unemployment, and uncertain economic outlook are seen as some of the factors contributing to low growth in charitable giving. A resulting consequence is that non-profit organisations now have to do more with much less!
What you’ll learn
- Understand the evolving nature of non-profit organisations and charities landscape including compliance aspects.
- Apply financial management principles in a non-profit context and use the four facets of financial management to build stronger non-profit organisation.
- Appreciate the importance of financial sustainability and the five facets of sustainability needed to remain a strong organisation.
- Understand how to craft a robust financing strategy including an analysis of self-financing options and their limitations.
- Learn to develop strategies to identify and manage risks faced by non-profit organisations.
- Learn how to build a high performing non-profit organisation, understand the practicalities of introducing efficiency focus where social bonding is most value.
- Effective Governance process for non-profit organisations.
Course Content
- Overview of Non-Profit Organisations –> 6 lectures • 31min.
- Financial Management –> 9 lectures • 57min.
- Financial Sustainability –> 6 lectures • 40min.
- Risk Management –> 2 lectures • 14min.
- Performance Management –> 5 lectures • 26min.
- Conclusion –> 1 lecture • 2min.
Requirements
Social injustice, income disparity, refugee crisis and natural disasters are on the increase in Australia. Hence the demands for the services provided by non-profit organisations are increasing as never before. However, funding these demands is becoming a concern for many organisations. The amount of money that people worldwide give to charity is growing but the rate it is growing has slowed down – 4.9% in 2015 compared to 7.8% a year ago (Probono:2015). Changing government policy, rising cost of living, elevated unemployment, and uncertain economic outlook are seen as some of the factors contributing to low growth in charitable giving. A resulting consequence is that non-profit organisations now have to do more with much less!
This is where sound financial management can help. Finance teams must step up their game, become proactive and build sustainable business models for these organisations in tough times. But are the finance teams ready? It is therefore timely that we upskill ourselves to meet the ever growing expectations placed on the finance function.
We shall begin our discussion with an overview of Non-Profit Organisations where we define what they are, what they do and how they resonate with private sector organisations needing them to be managed.
This course will enrich your financial acumen so you are better placed to lever on your skills to lead the organisation positively to deliver better social and financial outcomes