NFP Newsletter – Summer 2024

This season’s NFP newsletter tackles on updates under Governance, Cyber Security, Compliance, ACNC Activities, Financial Reporting, NDIS, Aged Care Sector, Fundraising and Deductible Gift Recipients

Governance – Economy is affecting cash reserves, say NFP leaders

More than half of 81 NFP leaders think that the economy is affecting their organisations’ cash reserves.

Cyber Security – NFPs Struggling with Technology

NFPs’ lack of technical skills meant that they were ill-equipped to respond to increasing service demands, Infoxchange’s 2023 Digital Technology in the Not-for-profit Sector has revealed.

Compliance – Aruma Back-Pays $6.5M

Disability support services provider Aruma Services Ltd has back-paid Victorian staff more than $6.5 million, including interest and superannuation, and signed an enforceable undertaking with the Fair Work Ombudsman.

ACNC Activities – Concerns About Charities Decrease

In 2022–23, the ACNC received 2106 concerns about charities, a decrease of 16 per cent compared with the previous year (2522 concerns).

Financial Reporting – ASIC Highlights Focus Areas for 31 December Reporting

The Australian Securities & Investments Commission has urged directors, preparers of financial reports and auditors to assess the impact of uncertain market and economic conditions.

NDIS – Taskforce Investigates $1 Billion in NDIS Payments

The year-old Fraud Fusion Taskforce says that considerable progress has been made to improve the government’s capability to prevent and respond to fraud against the National Disability Insurance Scheme.

Aged Care Sector – AICD Guidance on Aged-Care Changes

The Australian Institute of Company Director’s Governing for quality aged care – A director’s guide provides practical guidance to Australian directors to meet new governance obligations in aged care.

Fundraising – Draft Report Aims to Boost Donations

The Productivity Commission has released a draft of Future Foundations for Giving, a review of philanthropic giving in Australia.

Deductible Gift Recipients – ATO Reviews DGRs

The Australian Taxation Office has begun a review of the DGR status of 234 organisations specifically listed in the tax law.

And more…!