Financial Performance

FINANCIAL VIABILITY AND SUSTAINABILITY

• Association leaders must ensure the association remains financially viable and sustainable.
• Not-for-profit status means surplus funds cannot be given to members.
• Not-for-profit associations still need to make a profit annually to maintain service delivery.

RESOURCES AND ADVICE

• Seek clarification on not-for-profit status from the Australian Taxation Office.
• Obtain professional financial advice from qualified accountants or financial advisers when creating budgets or making significant purchases.

TEMPLATES

• Budget templates from Business Victoria
• Audit and Review Report templates from the Australian Charities and Not-for-profits Commission
• Charitable Purpose examples from the Australian Charities and Not-for-profits Commission
• Charity Annual Report template from the Australian Charities and Not-for-profits Commission
• Financial Declaration for Responsible Person from the Australian Charities and Not-for-profits Commission

VIDEOS

• Finding New Revenue for Your Association – Nick Koerbin
• Will Your Association Need To Pay Taxes for the First Time in 2024- Webinar

Practical Tips for undertaking Self assessment for NFP Status 2024

OTHER RESOURCES

Information from the Australian Taxation Office (ATO):

• Types of not-for-profit organisations
• Registering your not-for-profit organisation
• Concessions
• Paying tax on funding and grants
• Receiving gifts
• Do you have volunteers or employees?

COMMUNITY GRANTS AND PHILANTHROPIC FUNDING

• Bendigo Bank
• Philanthropy Australia
• Efficacy of Australian Commonwealth Business Grants-White Paper