Board Builder
Edition 4, September 2017: Staying financially sustainable
This is an extract of the September 2017 edition of Board Builder. To read this and more from our series, become a member of the Institute of Community Directors Australia now.
The art of survival: NFP finances and keeping the wolves at bay By Chris Borthwick, thinker in residence, Our Community The rabbits were tired of being eaten by the wolves, and they went to the owl for advice. The owl cogitated for a while, and told them, “Your problem is that the wolves are better armed than you. My advice, therefore, is that you even things up by acquiring your own big teeth and sharp claws.” The rabbits said, “Wonderful! Let’s do that! By the way, how do we do that?” “Oh, that’s your business,” the owl said. “I’m just the ideas man.” Not-for-profit fundraising is grindingly hard. Most small businesses can’t make positive cash flow, and that’s all they’re trying to do. Most small not-for-profits are where they are specifically because businesspeople can’t make money doing it, which just makes it harder. It’s a roundabout way of pointing out that the “seven pillars of fundraising” at the heart of this edition aren’t necessarily easy to build, but they’re a neat blueprint. Of course financial sustainability also means staying out of trouble. We examine two case studies where things went wrong and reveal three ways to keep your nose clean by asking the right questions. Plus, we profile a neighbourhood centre that’s built a nest egg for the day those wolves come prowling.
An enterprise of:
In this issue 2 Financial foundations: The seven pillars of fundraising 6 Case study: Castlemaine gallery’s battle for survival 11 Off the rails: RSL's fight to get finances back on track 14 Finance check: ICDA governance diploma student Sinead Glennon's top tips 17 Get help: Webinar advice for Not-for-profit Finance Week 18 Bank it: Qld centre shows how you can build a cash reserve 21 Risky business: Expert asks you five crucial finance questions 23 Golden ratios: Our essential sustainability indicators 24 About us: Board Builder credits, contacts and back issues