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Below are 10 of key findings from the Institute of Community Directors 2015 Not-For-Profit Finance & Governance Insights Report. Some of the key findings include:
- 56% of respondents agreed that most board members had a good understanding of their organisation’s finances.
- 53% of community groups have difficulty recruiting treasurers to oversee their finances
- 6% of organisations surveyed had experienced fraud in the past three years
- 31% of organisations believe they don’t need any formal risk management processes
- 63% of large not-for-profits rely primarily on government contracts and grants for funding,
- 29% of respondents say their organisation isn’t doing enough to protect against cyber-crime,
- 85% say it’s becoming harder to find consistent and regular funding.
- 20% of organisations say the past year has been the most challenging year for raising revenue in their history.
- 15% of respondents said they expected to take part in a merger in the next 12 months.
- 56% of organisations are feeling the pressure to reduce their overheads.
For the comprehensive report you can download it from communitydirectors.com.au