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…
NFP Resource is aware that many non-profits experience difficulty with their banks and occasionally receives questions about what banks can offer non-profits (see this post – Bank Accounts for Non-Profit Organisations). We were interested to receive news of an on-line discussion about banking and not-for-profits: “Event description In this discussion 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…
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,
leaders in the Not for Profit sector given the opportunity to have their say about their experiences in the industry.
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…
Guest Post – By Barry Baker, Partner, GrantThornton NZ In my line of work, I have come to realise most people feel more comfortable and confident talking about illness and medical conditions than they do about finance and accounting matters. I also know that my chosen profession has a poor Read more…
Incorporated Societies The Registrar of Incorporated Societies does not require that the financial statements of Incorporated Societies or Charitable Trusts are audited or reviewed. However, the organisation’s rules may require an auditor or reviewer to be appointed. Many societies and trusts find the cost of auditing (or even of reviewing Read more…
Charities Services will be holding financial reporting clinics in Auckland on the 23rd and 24th of June. You are invited to come and talk to their accountants who will be available to answer questions you may have about: Performance Reports Financial Statements Audit requirements for your charity There are two Read more…