Not for Profit Leaders Report – Financial Management 2022

HLB Mann Judd launches its 2022 Not for Profit Leaders Report on Financial Management.

Surveying more than 80 not for profit leaders, including c-suite managers, board directors of charities and membership organisations, HLB Mann Judd is releasing its second annual report on Financial Management. 

When the report was first produced in 2021, Australia was still in the midst of Covid and most states and territories in Australia were still in a variation of COVID lockdown.

Twelve months on, lockdowns are in our rear-vision mirror, but there are a large number of other challenges facing businesses, including rising interest rates, rising inflation, employee shortages and the threat of a global recession.

Australasian head of not for profits and audit partner Aidan Smith commented, “Current economic factors will only add further pressure to the not for profit sector, with cost of living pressures pushing individuals to rely on charities for support and the potential for a loss in revenue for charities”.

The report focuses on financial management in the NFP sector, examining planning, organising, controlling and monitoring financial resources with a view to achieving an organisation’s goals and objectives. It provides an opportunity to benchmark your organisation against other NFPs and provides insights and recommendations for leaders.

Report summary

• The current economic environment affected 59 per cent of organisation’s planned cash reserve levels
• 52 per cent experienced a change in personnel in their finance team over the past 12 months
• In the last two years, 62 per cent saw an increase in revenue
• More than 53 per cent are looking to raise the prices for their products/services in the next two years
• In the last 12 months 86 per cent of respondents saw an increase in wages, with the average increase at 6 per cent.

Access the report here

HLB Mann Judd partners and staff are deeply committed to Australia’s growing NFP sector. In 2010, HLB Mann Judd, in collaboration with the Commonwealth Bank, founded the ENFP (Exclusive Not for Profit) Community which provides significant benefits to the sector. 

The ENFP Community provides: 

• educational boardroom briefings for NFPs (a brochure showing past topics and speakers is available)
• an exclusive LinkedIn group with over 1,500 key decision makers in the NFP sector; and
• opportunities to collaborate and to share thoughts, ideas and solutions with other NFPs. 

To join the ENFP Community please contact Kim Kelloway, Head of Clients and Markets, at kkelloway@hlbnsw.com.au or 02 9020 4285.