Law and Business
As a Not-for-Profit (NFP), publicly funded university, ACU has a long standing and proud record of serving the needs of the sector.
On Wednesday 15th October ACU Business, in partnership with ACU Executive Education and Australian Scholarships Foundation (ASF) hosted a panel event in North Sydney covering current NFP issues.
The event assembled a group of experts in the NPF sector to share their insights including Brian Doolan, CEO, The Fred Hollows Foundation, Rosie Stilin Executive Director, People Learning & Culture, The Benevolent Society and David Rosenbaum subject matter expert (currently collaborating on unit development) , and principal at Optimum NFP.
In the face of ever-decreasing government funding and an escalating level of competition for sponsorship and donation dollars, the panel highlighted the urgent need for all NFP organisations to identify and adopt appropriate revenue replacement or enhancement strategies.
These strategies include:
- Adopting and providing corporate governance principles to ensure that they are well-governed and well-managed, hence capable of achieving desired outcomes
- Regularly reviewing the skills and knowledge of the board and take action where necessary
- Defining risk appetite and develop a risk register to be continually reviewed by management, appropriate committees and full board meetings
- Continually reviewing financial management and reporting capabilities
- Ensuring the strategy drives the budget and finance (not the other way round), and for a wider level of financial literacy among board members
- Investing in building talent, capability, engagement and performance in an ever increasingly competitive environment
To help NFP organisations effectively execute on these challenges, ACU offer Australia’s leading NFP qualification, the Graduate Certificate in Management of Not-for-Profit Organisations.
The program not only provides real world knowledge and a skill to effectively compete in the sector, the course also provides full articulation into the MBA Executive.
For any information about our MBA courses or for a personal consultation, please contact Mrs Anita Hancock on P 02 9739 2401 or E Anita.Hancock@acu.edu.au
For information on our NFP courses, contact Gill McCaughey on P 02 9739 2837 or E Gillian.McCaughey@acu.edu.au