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Performing at a financial surplus is integral for ensuring that your association is financially viable and sustainable in the long-term.
Practical Tips for undertaking Self assessment for NFP Status 2024
Information from the Australian Taxation Office (ATO):
The AES Association Executives Tool Kit has been developed for use by leaders of not-for-profit associations within Australia. It covers all aspects of managing an association and is designed to be used by Boards, committees and staff as a resource to assist them in the growth and development of their association. It includes detailed information on the various aspects of strategic planning, including how to develop a mission statement, vision, goals, objectives and more.
No matter the size of your association, risk management is one of the significant challenges facing volunteer boards. Often, Boards are expected to meet and decide there and then to enter into contracts with suppliers, sometimes worth thousands of dollars, without a proper risk assessment.
How much should an association or any organisation's CEO be allowed to spend?
Of course, it all depends on several factors, such as the size and financial health of the organisation. Having been a CEO of several
similar organisations, here are some suggested guidelines.
In any organisation the Treasurer bears the responsibility of managing its finances and overseeing all financial decisions. In a not-for-profit (NFP) association, much of the success of the organisation rests in its ability to acquire and appropriately utilise funds and thus the Treasurer plays an essential role in the NFP achieving its goals.
It was early 2008, and I had just taken over as CEO of Materials Australia, an association with a membership base comprised of materials engineers and scientists. Around three months into the job, I discovered that the accountant has been stealing from the association for about 10 years. The balance sheet was not as it seemed and this was the beginning of three years of recovery.
How we help membership based, not-for-profit associations now and into the future.
