The Gift Trust recently published a blog post with the above title. “There are plenty of myths and misconceptions about ‘fundholding’ – a growing way of reducing the hoops community groups have to jump through to receive funding. As many of us who donate to good causes or who work Read more…
With a number of charities struggling to survive, and news recently of a number closing down or seriously considering it (see note below), it was good to see some financial advice for charities recently posted from Andrew Austin of Jarden Wealth. The article starts: “Charities play a crucial role in Read more…
Q: I have heard that small charities can use a shorter reporting form to make their annual return to DIA Charities. Can you please confirm. A: Yes, that is basically correct, but subject to certain conditions. The External Reporting Board has introduced a “Simple Tier 4 Reporting Template” for “very Read more…
Content Provided We know things do not always go to plan, and non-profits can be adversely affected, no matter how devoted your organisation is to doing great work in the community. The one-size-fits-all approach to your risk management could make you vulnerable. Should a board member, employee, volunteer, or fundraiser Read more…
“Tier-3 and Tier-4 sized not-for-profit (NFP) organisations in the Community and Social Services sector are having real issues accessing and using banking services and products. These are the smaller entities in the sector Tier-3:under $2 million annual operating expenses; Tier-4 under $140,000 operating payments. These organisations – and the phenon=menal Read more…
Chartered Accountants Australia – New Zealand (CA ANZ) are now inviting entries for the 2023 annual New Zealand Charity Reporting Awards. The New Zealand Charity Reporting Awards are presented annually by CA ANZ to recognise excellence in charity reporting and to help the sector continue to improve the quality of Read more…
A new playbook from Chartered Accountants Australia and New Zealand (CAANZ) “offers actionable insights for not-for-profits and charities which have a critical role in the transition to a sustainable future. IN BRIEF Just as the corporate sector is under pressure to address the social and environmental impacts of their operations, Read more…
The External Reporting Board (XRB) is the Independent Crown Entity responsible for setting external reporting standards. In the latest news and information bulletin (September 2022) XRB advises: “The new Incorporated Societies Act 2022 has changed how incorporated societies need to report. The Act requires all but the smallest societies to Read more…
“The Incorporated Societies Act 2022 that was passed in April this year brings about many changes to how societies operate. One of the areas of change is how societies prepare their financial statements. From October 2023, once a society re-registers, it will have to start using External Reporting Board (XRB) Read more…
Recommendations from the recent Charities Act Review could mean registered charities with operating expenses over $140,000 per year will be required to disclose information about the reserves they hold,
We have frequently been called upon to assist small charities who are struggling with the complexity of the XRB reporting format required to comply with the DIA Charities Annual Report. A Tier 4 charity is one which: has annual operating payments under $125,000 has no public accountability uses cash based Read more…
Thanks to Barry Baker of Grant Thornton who has provided information about a new guide entitled “Your Guide to creating a Plain English NFP Reserves Policy” Not for Profit organisations need reserves to fund organisational change and improvements, and to provide a buffer for potential events that will adversely affect Read more…