Governance Issues in Non-Profit Organizations: Key Challenges and Solutions
Explore the fundamental principles of good governance in non-profit organizations and the primary focus on mission-driven initiatives. Discover the key challenges faced by NFPs, including stakeholder management and regulatory compliance, and the importance of a robust governance system to ensure accountability and transparency in executing their mission effectively.
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Presentation Transcript
Governance Issues in NFPs FPA-SKPA Programme GMME- Gov. 8 Lasantha Wickremesooriya Consultant Strategist
The basic precepts of good governance are fundamental to all organisations having clarity of roles and responsibilities, a focus on strategic objectives and prudential risk management, appropriate financial management and disciplined accountability and transparency to members and stakeholders
Primary Focus is Mission driven Mission is related to the service of, or provision of benefit to society at large They operate as communities, relying to a significant extent on the relationships with, and the goodwill and support of, a broad stakeholder group Custodians of the mission and values are often broad group of stakeholders Excess income from the organisation s enterprises are reinvested into its mission Accountability for their endeavours is to a diverse group including members, regulators, donors, government agencies and the broader society NFP Characteristics
Charitable organisations Non-charitable companies limited by guarantee registered under the Corporations Act 2007 Incorporated associations registered under state and /or provincial legislation Legal status Co-operatives Other statutory incorporated bodies
Key challenges to NFPs Having a clearly defined purpose and strategic direction Clearly defined Role of the Board Managing stakeholders Lack of consistency in regulation Board composition Potential legal exposure Financial information Risk management
A Good Governance System reflect; - good management, - adequate controls and risk management, - accountability, - transparency, and working towards executing its mission!
