Good governance just as important for not-for-profits

Good governance just as important for not-for-profits

Whether sitting on the board of a big corporation or your local not-for-profit organisation, good governance remains critical, says the Institute of Directors.

“The not-for-profit sector is a significant and important resource for the wellbeing of the community, and boards in these organisations face some unique challenges,” Institute of Directors Waikato branch chair Margaret Devlin says.

“Governance can be a bit of a mystifying word at times, but it is really about good planning, strategies, processes and systems. The best governance is not about putting the brakes on. It's about getting ahead. It's about knowing where you want to be and how you're going to get there

In an exciting and rare opportunity to offer further education, training, and essential governance, specifically tailored for the not-for-profit sector, the Institute of Directors Waikato Branch along with PwC and Tompkins Wake is offering a complimentary workshop this week.

Designed specifically for not for profit businesses, the workshop aims to give insight into the benefits a board can bring, and the fundamental responsibilities of a board and its directors.

It provides practical tools that can be immediately applied to the running of a not-for-profit business, with a focus on strategy and managing risks, as well as providing the opportunity to network with others in this sector.

"The role of a board in a not-for-profit organisation is important, and decisions made not only impact the performance of the organisation but also people’s lives and the wider community," says PwC partner Jan Gatley, who is currently involved with not-for-profit boards Workwise Employment Limited and DV Bryant Trust.

Institute of Directors Chartered Member and Tompkins Wake partner Peter De Luca agrees, “not-for-profit organisations face many of the same obligations of commercial ventures, but with board member often being volunteers they can consider their role quite differently.”

“Although the aims may be different to a business, they still need to have the same understanding of governance and take it seriously. It takes a lot of dedication.”

ENDS

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