Not for profit
In February 2022, we surveyed senior professionals at not-for-profit organisations to understand how NFPs are responding to a constantly changing landscape.
The survey findings present many opportunities and challenges for the NFP sector for this year and beyond, and you can find out more about strategy, attracting and retaining staff, digital capability and more in our not-for-profit survey web hub.
Not-for-profit (NFP) companies operate in a complex and dynamic social, economic and political landscape. To ensure their commercial longevity, NFPs must address key challenges while retaining transparent and robust accounting, tax and business structures and processes.
Increasing accountability requirements for NFPs place pressure on resources, especially for smaller organisations that cannot employ full time staff to assure these requirements are met. External business advisory and accounting professionals help to bridge this gap, ensuring NFPs have the support they need to make an impact. It is also crucial for NFPs to consider board governance as they have the same level of accountability as large corporate and commercial companies.
Pitcher Partners is experienced in supporting not-for-profit organisations as they deal with ongoing challenges, including policy change, funding issues, governance demands and enhanced compliance obligations. We work with a diverse range of organisations across the NFP sector, including:
- Charitable trusts
- Social housing organisations
- Community care organisations
- Sporting and recreation clubs
- Cultural organisations
Not-for-profit organisations need to address unique challenges and take advantage of evolving opportunities in order to sustain, grow and maximise their impact.
NFPs must navigate a range of ongoing and complex challenges, including a lack of sufficient funding and resources, increasing regulatory compliance obligations, board exposure to personal risk, and a high turnover of staff and loss of skilled talent.
Despite the challenges of operating in a highly regulated environment, NFPs also have many opportunities to foster a strong business, such as attracting and retaining board members who are skilled and specialised or improving community perception through transparent and creative communication channels. As technology advances, NFPs also have the opportunity to embrace new technologies and digital solutions to optimise their systems and processes and further expand their community engagement.
Pitcher Partners has extensive experience working with a range of organisations across the not-for-profit sector. Our broad expertise and technical knowledge not only enables us to ensure your organisation is commercially viable, but it also gives us a deeper understanding of your unique challenges and goals.
NFP organisations can benefit from professional ongoing financial and business advisory services, such as year end accounting and statutory audits, as well as tailored business advice, internal audits and taxation services.