New ATO requirements for non-charity NFPs | My Latest Webinar | Upcoming Events | Finance Tips From Julie | How Can I help?
Hi there – thanks for checking out my latest Good Governance Newsletter!
I know you are here because you are committed to good not-for-profit governance and leadership, and you want to make sure you do everything you can to steer your organisation in the right direction.
So, to support you with that, through my regular Good Governance Newsletters I strive to bring to you valuable NFP governance and leadership information and updates, happenings and events, that will help you do exactly that!
So grab yourself a cuppa and take a moment and check out what I have to share with you in my newsletter this week…
Read on for:
- Understanding the new ATO requirements for NFPs that aren’t registered charities
- My latest Webinar – In case you missed it live, catch up on my top 10 tips for improving your organisation’s Fundraising
- What’s Coming Up – April & May
Thursday 3rd April – Training: Fundraising 101
Thursday 1st May – Training: Finance Basics
Wednesday 7th May – Webinar: 10 tips for Better Not-for-profit Risk Management
- Finance Tips from Julie – Managing Technology and Communication Costs for NFPs
- Working with me – How my Succession Planning Program can help your NFP Board
I’m so glad you have found me and all the resources I share via my newsletters and emails.
I am sure I will have something to help you in the not-for-profit work you do, whether it be as an Executive, a Board member, or a grass-roots community volunteer.
So dive on in and let me know what grabbed your attention this time!
Regards
Megan
GETTING THE FACTS ON THE NEW NFP ATO REPORTING REQUIREMENTS
There’s been a lot of talk lately about the ATO reporting changes coming into force for non-charity NFPs.
In a nutshell, the roughly 80% of Australian NFPs which are not charities, now need to lodge an annual ‘self-review return’ with the ATO, IF they have an active ABN and are claiming tax exempt status.
As you probably well know, I am not an accountant, so I am directing you to the horses mouth so to speak with THIS ARTICLE put out late last year by the ATO itself.
The date for lodgement of the first return is 31 March 2025, so if this change applies to your NFP, make sure you get your return in before the end of this month.
If you have any queries, speak to your accountant, or contact the ATO’s dedicated NFP support line on 1300 130 248.
MY LATEST WEBINAR
Recently I ran a brand new webinar for not-for-profit organisations – 10 tips for Better Fundraising.
I was delighted that this session was really well attended by a variety of NFP representatives from across the country and overseas, and it’s great to know that so many people are wanting to think more creatively about improving their fundraising strategies.
If you missed it live and would like to catch up on the recording, you can check it out HERE.
And if you want to watch more of my webinars, or read some of my blog articles, then check out my back catalogue of Blogs & Pods HERE.
Enjoy!
WHAT’S ON IN APRIL AND MAY
Looking for quality, accessible, and affordable training for your NFP Board?
Then check out my Online Learning offerings coming up in April and May!
🟢 3 April: Fundraising 101 online training session.
Most NFPs rely on fundraising to some degree. This training will help you learn key strategies to increase your fundraising reach and impact.
Thursday 3 April, from 5.30 pm – 8 pm (AEST/Melbourne time).
Tickets are just $167 per person.
Click HERE for further information and to purchase your tickets.
🟡 1 May: Finance Basics online training session.
Julie Doyle is my business finances guru, and I am delighted to collaborate with her to bring you her finance expertise in this online training session.
Thursday 6 March, from 5.30 pm – 8 pm (AEST/Melbourne time).
Tickets are just $167 per person.
Click HERE for further information and to purchase your tickets.
🔴 7 May: 10 tips for better Not-for-profit Risk Management webinar.
Come along to this FREE webinar to hear my top tips for covering off your organisation’s all-important Risk Management obligations.
Wednesday 7 May, from 11 am – 12 pm (AEST/Melbourne time).
Click HERE for further information and to book yourself in.
For the full calendar of my online Events, click HERE to find out more.
FINANCE TIPS FROM JULIE
Julie Doyle is my business finances guru, and this week she is generously sharing some of her wisdom around Managing Technology and Communications Costs for NFPs.
This week Julie says:
Running an NFP entity comes with its own unique challenges, particularly when it comes to budgeting for needed technology and communication. While these tools are essential for operations, fundraising, and outreach, their costs can quickly add up.
So, here are some key strategies to effectively manage and optimise these expenses across your NFP.
Thoroughly Assess and Prioritise Your Needs – Before investing in new technology or communication tools, conduct a thorough assessment of your organisation’s needs. Identify the most critical areas where technology can improve efficiency and prioritise spending accordingly.
Utilise Free and Discounted Software – Many tech companies offer free or discounted software to NFPs. Platforms like TechSoup provide access to tools such as Microsoft Office 365, Google Workspace, and donor management systems at reduced costs. Also, take the time to explore open-source alternatives as well.
Leverage Cloud-Based Solutions – Cloud computing can help you to reduce hardware costs, enhance collaboration, and improve security. Services like Google Drive, Dropbox, and Slack allow teams to work remotely while minimising the need for expensive on-premise servers.
Negotiate with Vendors – NFPs often have more negotiating power than they realise. Reach out to software and service providers to enquire about NFP discounts or, alternatively, flexible pricing models.
Optimise Your Internet and Phone Expenses – Evaluate your internet and phone plans to ensure you’re only paying for what you need. Consider VoIP solutions like Zoom Phone or Google Voice to reduce traditional phone service costs. Bundling services or negotiating with providers can also lead to savings.
Train Staff and Volunteers – Investing in training can prevent costly mistakes and inefficiencies. Ensure that your team is proficient in using your existing tools to maximise their value. Online courses and free training resources from software providers can also be beneficial.
Ensure You Implement Cybersecurity Best Practices – Cybersecurity threats can lead to expensive breaches and data loss. Use multi-factor authentication, keep software updated, and educate your staff and volunteer base on phishing scams to protect your organisation from potential threats.
Monitor and Evaluate Regularly – Regularly review your technology expenses and assess whether the tools you are using are still meeting your needs. Eliminate redundant or underused software subscriptions and replace costly solutions with more budget-friendly options.
By taking a strategic approach to technology and communication expenses, NFPs can reduce costs while maintaining efficiencies and effectiveness. Prioritising needs, leveraging NFP discounts, and regularly reviewing expenses can help you make the most of your resources and allow you to focus more on your mission.
If you have a NFP finance query you would like Julie to talk about via my Good Governance Newsletter, just email it to me on megan@mjbconsulting.net.au.
BELIEVE IT OR NOT, NOW IS THE TIME TO START THINKING ABOUT BOARD SUCCESSION!
If your NFP wants to recruit new Board members towards the end of the year, now is the time to start thinking about Board Succession Planning – to get the best Board recruitment outcomes, you need to be proactive and you need to begin well in advance!
And when I undertook some research into areas of unmet need for NFPs, help with Succession Planning was one of the highest priorities people identified.
So that prompted me to create my NFP Board Succession Support program .
Through this program I help NFP organisations across the country to plan for, look for, and secure skills-based Board members to help lead their organisations into the future.
Check out some lovely feedback below from a wonderful organisation that I have helped with their Succession Planning:
When our board needed a refresh, we were not sure how best to approach it. But Megan helped us to draw up and execute a really sensible and effective Succession Plan.
Megan was very professional, patient and diligent, and methodically guided us through all the steps in the plan, keeping us all accountable along the way.
We were thrilled to have more well qualified applicants for the board than we had positions available – the first time that’s happened in a long long time.
Thank you Megan!
Steven James, Chair, Waverley Woollahra Art School
So if your Board needs strengthening, check out my NFP Board Succession Support program flyer HERE, and book a discovery call with me HERE to find out more!
And if you want to explore more of my other supports for NFPs, check out my Services page on my website HERE.
Or for all the details, go directly to:
I’d love to help your organisation with what you need too!
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