“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…
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…
Auckland Foundation granting rounds opened15 August, and will close on 2nd September Are you or your organisation looking for financial support? Head over to the Foundation website to see if you reach the eligibility requirements of the various funds. Auckland Foundation run a number of contestable grant rounds every year, 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…
NFP Resource readers recently participated in a survey of the NFP Sector. The results have recently been published by Grant Thornton. (Thanks to Barry Baker of Grant Thornton) The Executive Summary reads: “The 2022 Not for Profit sector report paints a picture of an agile industry bending with the winds 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…
This is an updated version of an earlier post Q: I would be grateful for information about any legal requirements that must be met with respect to the period of time that a trust must retain any documents, such as minutes of meetings, financial records, correspondence, etc A: We visited Read more…
Here’s another useful and insightful post from RSM Global: “You’re on a board. You’re not financially trained but you appreciate that reviewing finances to ensure they’re under control is an important aspect of good governance. What should you be looking for? What are the questions to ask? Is there a Read more…
This offer has now closed. See this allied post
Opinion – In the bible, Jesus is reported as saying “… Render therefore unto Caesar the things which are Caesar’s …” (Matthew 22:21). This is indeed a tenet that is applicable in this modern world – though for ‘Caesar’ read government (in general) or ‘The IRD’ (in particular) as Christ was referring Read more…
RSM Hayes Audit have recently published an article looking at some of the accounting complexities that organisations running Opportunity Shops may experience under the new Financial Reporting Standards. How do you account for donated goods under the new standard? Using the difference between accounting for a donated new car (where the Read more…