Charitable Organisations

Increasingly, charitable organizations and not-for-profit organizations are operating in a competitive environment.

While these organizations receive specialized treatment by the public, the government and the taxation authorities, in a number of their activities, they are finding themselves having to compete with the corporate sector for resources.

The resources which are being competed for are not limited to the 'donor dollar'.

With increasing compliance obligations and reporting requirements, NFPs are having to expand their knowledge base by, either employing experienced and qualified personnel, or engaging the services of specialized consultants. In this arena, NFPs are particularly disadvantaged because of the general lack of funds which are normally available for non-charitable purposes, and because of the increasing pressure on the labour market which increases remuneration packages.

At AIB we have an adviser who has first-hand experience in the financial management of charities. In particular, we have identified the following areas where we could assist your organization in achieving the required compliance benchmarks:

• regular reporting of results to the board, in a format which enables transparency, disclosure and decision-making
• implementation of a budget process to maximize resources and minimize wastage of your scarce funding
• assistance with requirements under the Charitable Fundraising Act 1991
• identification of taxation concessions and introduction of administrative practices which can benefit the organization