Right Source
Right Source
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  • Просмотров 257 677
Practicalities for setting up a not-for-profit: Understanding NFP Members, Directors and Employees
Two of the most common questions I get from people who are looking to start a not-for-profit are: "Can I pay myself?" and "Can I be on the Board while working in the NFP?"
When you have an NFP (or if you are setting up an NFP), it can be very useful to understand the relationship and dynamics between Members, Directors and Employees. As a founder, can you be all three at once?
In today's video, I clarify these roles and responsibilities and discuss how to achieve a balanced NFP structure.
I'll be focusing on the practicalities of starting a NFP in some upcoming videos, each video will cover a different aspect for you to consider when starting up a NFP. Be sure to check them out.
Downloads ...
Просмотров: 20

Видео

Practicalities for setting up a not-for-profit: Preparations for starting a NFP
Просмотров 72 часа назад
In this video I focus on the NFP start-up process, from a practical point of view and discuss what you might like to consider when starting your NFP journey. This video raises some important questions for you, I recommend you have a pen and some paper handy! I'll be focusing on the practicalities of starting a NFP in upcoming videos, each video will cover a different aspect for you to consider ...
Why we need more not-for-profits
Просмотров 3114 дней назад
In this video I share my views on the number of not-for-profits as well as touch on the role not-for-profits play, how innovation and diversity play a key role, and some data that might help further frame this conversation. Ultimately, I believe it is important to have a strong not-for-profit sector which is supported into the future. It is a sector that has its own characteristics and nuances ...
How to change the Constitution of your Not-for-Profit
Просмотров 1357 месяцев назад
It is a good practice to read through and review your Constitution annually to ensure it remains fit for purpose. And if there are changes required, it is important that these aren’t put off because the process seems intimidating or too difficult. Updating a constitution to stay in line with an organisation's evolution, is critical to governance and not as impossible as you might have thought. ...
Understanding the Merger process for Not-for-Profits
Просмотров 667 месяцев назад
There are many reasons why an NFP would look to merge or be acquired but like everything, a merger or acquisition is more likely to succeed if you have a plan or strategy to achieve it rather than just hoping. In assessing the viability of a merger or acquisition it’s important to obtain the ‘why’ and the ‘common motivation’ for all in this process. In today’s video I’ll discuss the merger proc...
Interpreting Board Best Practice
Просмотров 437 месяцев назад
Are you following Best Practice in governance? This term is utilised in many board discussions and is often taken as the ‘way’ of doing things. However best practice isn’t always “best” for your Board, especially when looking through the eyes of a high performing Board. In this video I’ll explain why, from the perspective of a high performing Board. Does best practice make a better Board, or is...
Moving from Treasurer to Director
Просмотров 618 месяцев назад
What does it mean when you are a Treasurer of an Association moving to a Company Limited by Guarantee and then becoming a Director on the Board, and what affect does the role change bring? Before we start thinking about the size and sophistication of your organisation, it’s important to see things from an operational perspective when defining roles and responsibilities. Some Treasurers of Assoc...
It's better to be lucky than good
Просмотров 1098 месяцев назад
In a business or work context, the phrase “better to be lucky than good” is one that I have come to associate with. On face value the phrase seems a little comical, but there is a meaning to this and one that I personally align to. In doing this let's explore what being lucky means versus being good, in the context of business and personal success. Are the lucky characteristics driving your ach...
Right of Use Assets
Просмотров 5478 месяцев назад
The topic of Right of Use Assets has come up in several NFP Board and Finance Committee discussions. It causes a bit of confusion, especially when organisations, for example, are used to recognising their rent or lease payments as an expense. In this video I’m not going into the accounting rules, this will be more conceptual, so you can have an appreciation of what Right of Use Assets means whe...
In-Camera Session
Просмотров 558 месяцев назад
What is an “in-camera” session at an NFP Board meeting? In today’s video I discuss the; what, who, why, when, and where… of the in-camera session. When executed well, everyone stands to gain from the in-camera session, from the Board, the executive, through to the way the organisation creates an impact. Does your NFP Board meeting include in-camera sessions? Share your thoughts in the comments?...
Customer VS Beneficiary
Просмотров 679 месяцев назад
As a not-for-profit, are you clear on who your customers and beneficiaries are? In my experience, those that are clear on this perform better overall in terms of sustaining their organisation and delivering long-term impact. In this video we’ll discuss customers and beneficiaries from both a for-profit and non-profit viewpoint. It’s useful to reflect on how they are different and why that might...
Enduring vs Sustainability
Просмотров 107Год назад
When I think about the NFPs we work with, I would like to see that their impact endures. That the changes they made, the lives they touched is remember and continues to have ripples long after the NFP ceases to exist. Being in a NFP is about playing to win, while sustainability is more about playing not to lose. So, how do we make your NFP enduring? In this video we discuss what you might like ...
Incorporated Association to CLG
Просмотров 267Год назад
Thinking about becoming a Company Limited by Guarantee? In Australia, when an incorporated association is looking to make the transition, each state is slightly different. With that in mind, I’ll talk through the principles involved the overall process, before touching on a few issues for you to consider. Changing to a company limited by guarantee, is an involved process and will cost time and/...
Financial Governance for Not-For-Profits
Просмотров 164Год назад
Is Financial Governance something unique to the NFP space? No, but it is needed, and it’s very obvious when an NFP doesn’t have it in place. Financial reports left to organically grow, can turn into lot of reports. This is something that is very painful to deal with at a Board level, so how do we turn these reports into good governance? I’m not talking accounting specifically, it is about havin...
Accounting as a Language to tell your story
Просмотров 188Год назад
As the CEO of an NFP, telling your story in meaningful and consistent ways is vital to delivering on your purpose. In this video I discuss storytelling through the language of accounting, and why the CEO, Board and stakeholders should speak it regularly to tell their story. Creating a meaningful story with the numbers on the page may be challenging at first, however when spoken regularly, this ...
Why NFPs Shouldn't Consolidate
Просмотров 85Год назад
Why NFPs Shouldn't Consolidate
The Importance of an Independent Secretary
Просмотров 107Год назад
The Importance of an Independent Secretary
How to facilitate Board meetings?
Просмотров 263Год назад
How to facilitate Board meetings?
What makes a good NFP Board Chair?
Просмотров 69Год назад
What makes a good NFP Board Chair?
How to fix a collapsed Board
Просмотров 157Год назад
How to fix a collapsed Board
Board Accountability
Просмотров 139Год назад
Board Accountability
Working with a poor performing Board in an NFP?
Просмотров 72Год назад
Working with a poor performing Board in an NFP?
Empowering Your Purpose Is Ours.
Просмотров 60Год назад
Empowering Your Purpose Is Ours.
A brief history of director of independence
Просмотров 34Год назад
A brief history of director of independence
Federated Models and NFPs - Part 2
Просмотров 77Год назад
Federated Models and NFPs - Part 2
The Dynamics of a Chair, CEO and Secretary
Просмотров 123Год назад
The Dynamics of a Chair, CEO and Secretary
NFP Subsidiary Structures
Просмотров 55Год назад
NFP Subsidiary Structures
Federated Models and NFPs - Part 1
Просмотров 121Год назад
Federated Models and NFPs - Part 1
NDIS: Rediscovering Purpose
Просмотров 100Год назад
NDIS: Rediscovering Purpose
NDIS: Quick growth of NFPs
Просмотров 74Год назад
NDIS: Quick growth of NFPs

Комментарии

  •  13 дней назад

    Thank you so much. This is exactly what I needed today. You've given me a lifeline and a strategy.

  • @joseph.langifisi
    @joseph.langifisi 14 дней назад

    I’ve worked at a for profit employment agency before. I liked helping people find work, especially the long term unemployed or disadvantaged. However I didn’t like their profits based company ethos. It was a publicly listed (American) company that was receiving funding from the Australian government to assist jobseekers find work. I feel like helping people in tough situations should be less about profit and more about success.

  • @joseph.langifisi
    @joseph.langifisi 14 дней назад

    I’d like to start a not for profit employment agency to help the long term unemployed, prospective immigrants and also those transitioning from prison to society. That way the profits can go back into improving the services we can provide people looking for work like training and education.

  • @anitaalijafari7131
    @anitaalijafari7131 Месяц назад

    Well explained thanks 😊

  • @blakee121
    @blakee121 2 месяца назад

    I was actually keen to touch base to go over nfp governance. But then you mentioned this DEI poison which essentially replaces merit with race, gender and ethnicity. Unfortunate and I'm not sure why is permeates throughout governance, particularly the not for profit space.

  • @imal3407
    @imal3407 2 месяца назад

    Thank you so much for you explanation!!!

  • @julianalweyiso
    @julianalweyiso 2 месяца назад

    Cash flow forecast

  • @sai10free
    @sai10free 2 месяца назад

    Thanks for presenting this information. Very helpful.

  • @KDBLOGGER-h3n
    @KDBLOGGER-h3n 2 месяца назад

    Thank you so much🎉

  • @paulread6240
    @paulread6240 3 месяца назад

    Thank you, subscribed. This is the info I'm after.

  • @shakasesay2730
    @shakasesay2730 3 месяца назад

    PIZZA

  • @RightSource
    @RightSource 4 месяца назад

    You can grab the free download at www.rightsource.com.au/downloads/

  • @RightSource
    @RightSource 4 месяца назад

    You can grab the free download at www.rightsource.com.au/downloads/

  • @RightSource
    @RightSource 4 месяца назад

    You can grab the free download at www.rightsource.com.au/downloads/

  • @MilleniumProjectsandProcuremen
    @MilleniumProjectsandProcuremen 4 месяца назад

    PIZZA

    • @RightSource
      @RightSource 4 месяца назад

      You can grab the free download at www.rightsource.com.au/downloads/

  • @MilleniumProjectsandProcuremen
    @MilleniumProjectsandProcuremen 4 месяца назад

    COFFEE

    • @RightSource
      @RightSource 4 месяца назад

      You can grab the free download at www.rightsource.com.au/downloads/

  • @akbarshahk7993
    @akbarshahk7993 4 месяца назад

    I like the vedio

  • @benudas
    @benudas 5 месяцев назад

    boring

  • @globalkidspreschool
    @globalkidspreschool 5 месяцев назад

    Nice

  • @debbiefred2782
    @debbiefred2782 5 месяцев назад

    Thank you! I now understand the value of budgeting.

  • @davidcreegan1259
    @davidcreegan1259 5 месяцев назад

    Thanks Justin, I've just viewed all four videos and your information is concise and clearly presented. I am at the beginning of the journey and have been learning about not-for-profit for ages and this has helped a lot.

  • @TheCANexus
    @TheCANexus 5 месяцев назад

    The video is 4 years is it applicable for now

    • @RightSource
      @RightSource 5 месяцев назад

      @@TheCANexus yes, this remains relevant.

  • @davidmaywald4173
    @davidmaywald4173 6 месяцев назад

    Great video. Thanks very much Justin.

  • @Dtansing1
    @Dtansing1 6 месяцев назад

    Thanks very much for that information. I'm going through a process of my rehabilitation and discussing with people that are helping me helping others. I'm setting all of this up because I'm the perfect candidate after 6 years of going through all of this and so I would like to make sure that this would be an opportunity for other people to come on board once I set up the foundation or charity. Thank you very much for your video. I've been through hell. I want to start this charity so I can help other individuals to know that there is help out there. We will navigate that with them and for them on an individual by individual basis.

  • @IOSARBX
    @IOSARBX 8 месяцев назад

    Right Source, This video is fantastic! I liked it a lot!

  • @ErfanKaramigplus
    @ErfanKaramigplus 8 месяцев назад

    This is brilliant. Thank you for the clear and informative content you share, Justin.

  • @IterelengSMGauteng
    @IterelengSMGauteng 8 месяцев назад

    Well explained, God bless

  • @IterelengSMGauteng
    @IterelengSMGauteng 8 месяцев назад

    Thank you

  • @prasadnilugal4691
    @prasadnilugal4691 8 месяцев назад

    Nice information Sir

  • @Msrojo1004
    @Msrojo1004 9 месяцев назад

    Thank you. Do you still have the Weekly Health Check pdf? ... I wasn't able to find it from the link in the description.

    • @RightSource
      @RightSource 9 месяцев назад

      It should still be there. Try the link below. www.rightsource.com.au/downloads/

  • @oliveiravilela7460
    @oliveiravilela7460 9 месяцев назад

    Thanks you are communicating the budget very well and easy to understand.

  • @sallywang7778
    @sallywang7778 9 месяцев назад

    This video helps me a lot !! Thank you for the effort :)

  • @RichNilsen
    @RichNilsen 9 месяцев назад

    Great analysis and explanation. Thank you

  • @CatharineCan-yh8fr
    @CatharineCan-yh8fr 9 месяцев назад

    If it's just accounting and recording, I won't realize the value of my work until I look at the balance sheet, look at the P&L or cash flow. It makes me even more passionate about my job when I see that I help business owners make better decisions with the information I provide them. Your videos are very useful, thank you.

  • @emonitani
    @emonitani 9 месяцев назад

    Excellent presentation

  • @BabySophiaandEmma
    @BabySophiaandEmma 10 месяцев назад

    Thank you for posting this video Justin! It is so helpful. I have already added you on LinkedIn and requested a meeting through your online platform. Thank you, Emma :)

    • @RightSource
      @RightSource 10 месяцев назад

      I look forward to speaking with you. Any problems send me an email on justin.hogg@rightsource.com.au.

  • @Hafufvahfshla
    @Hafufvahfshla 10 месяцев назад

    I’m on a student visa. How does that work? Thank you

  • @pattyhorich7978
    @pattyhorich7978 10 месяцев назад

    I am a Bookkeeper from Berlin, we are moving to Australia at the end of the year and I plan to continue working as an Bookkeeper in Australia. I started reading/watching RUclips videos a couple of months ago to get to know the specific language and to see what is similar and what is completly different, and i realized that there are not that many differences. Thanks for your videos, they helped a lot.

  • @AngieHerrera-j1b
    @AngieHerrera-j1b 10 месяцев назад

    Thanks for make this video, I'm learning english in australia and my dream is validate my accounting career here. So it will be a big challenge due to the accent and language. But I'm confident that I will get more, even I enjoy to see your videos and understand the context

  • @nk.nhk.uk1
    @nk.nhk.uk1 10 месяцев назад

    so much love it ... brilliant

  • @raweatables6903
    @raweatables6903 11 месяцев назад

    Firstly, thankyou Justin for making this series of videos. Such a clear and informative kind lesson :) Can a charity be set up with out directors ID's? And what type of trust is used for NFP charities?

    • @RightSource
      @RightSource 11 месяцев назад

      Technically an association can be setup without Director IDs, but my recommendation would be to have them in any case if you are taking on this type of role. Trusts are becoming less common for operating charities and that would be best answered by someone specialising in Trusts.

  • @AussiePom
    @AussiePom 11 месяцев назад

    But if you combine sick leave with annual leave then sick leave can't accrue. For someone like me who has over 54 weeks of accrued sick leave I would not want to have my sick leave wiped out to be combined with annual leave.

    • @RightSource
      @RightSource 11 месяцев назад

      It would accrue the same if you combined it (as is required under employment law). And also when you finish your employment any sick leave you hadn't used gets paid out to you, rather than disappearing which is what normally happens.

  • @alansmith8563
    @alansmith8563 Год назад

    what will you do if you find out that one of your employee is stealing?

    • @RightSource
      @RightSource 11 месяцев назад

      I would immediately get some external legal advice in terms of the correct action to take. In dealing with the employee, again advice here is important to ensure they are supported and a correct process is followed to allow all sides to be heard.

  • @youhanissac1613
    @youhanissac1613 Год назад

    Hi, I am an operation manager in a company need your help to create a budget i mean proposed budget being an operation manager to let them know what will be we are planning to spend on

  • @clairebailey2907
    @clairebailey2907 Год назад

    Feeling a lot more clear now. Still have a few questions

    • @RightSource
      @RightSource Год назад

      Happy to arrange a call if that is helpful.

  • @clairebailey2907
    @clairebailey2907 Год назад

    Hello. Can you please explain the difference between the NFP registration structures. What does each of three mentioned structures mean - trust vs incorporated association vs company limited by guarantee Thanks

    • @RightSource
      @RightSource Год назад

      They all form a legal entity that gives an identity to an organisation, but come from different pieces of legislation. Associations are common for state based, companies are national legislation and trust are becoming less common. Here is a link to an ACNC page that might help. www.acnc.gov.au/for-charities/start-charity/you-start-charity/legal-structure

  • @prasadnilugal4691
    @prasadnilugal4691 Год назад

    Very nice information Sir

  • @Panchkula007
    @Panchkula007 Год назад

    where are you based in australia ?

    • @RightSource
      @RightSource Год назад

      We work nationally, with our Head Office in Brisbane.

  • @hpfun2478
    @hpfun2478 Год назад

    Thanks for the useful info!👍👍👍

  • @hpfun2478
    @hpfun2478 Год назад

    Can I ask an accounting question here:) Whole year invoice from Insurance supplier (GST inclusive) Dr Insurance Expenses 120 Dr GST 12 Cr Account payable 132 I would like to allocate $120 to 12 months then monthly report shows $10 expenses Currently I am using a temp account to do this Dr Temp account 110 Cr Insurance expenses 110 then monthly journal Dr Insurance Expenses 10 Cr Temp account 10 Would you please let me know if there is a better way to do this (not use temp account?)?

    • @RightSource
      @RightSource Год назад

      Sure. First, check GST as there is often a GST ree component in relation to insurance. Second, does spreading the cost over the whole year add any value and perhaps jus expense the entire amount in one month. Best way to improve a process is to eliminate it. :) Third, If you do want to spread it over the year, using a clearing account is standard. I would do the entire year worth of journals in one go (ie. future dates) as that is more efficient and is set-up for the year rather than checking each month.

    • @hpfun2478
      @hpfun2478 Год назад

      Thanks for your reply! I would claim back GST when we receive the invoice. To simplify the problem, I have changed the total amount to a smaller amount $120. We prepare financial reports every month. When we put the entire amount in one month, the P+L for that month doesn't look too good, so we spread the amount over the months. Would you please advise the clearing account be created under current assets or current liabilities? Many thanks@@RightSource

    • @RightSource
      @RightSource Год назад

      This would sit in a prepayments account which would be a current asset. Best of luck.@@hpfun2478

    • @duyenbtx
      @duyenbtx 3 месяца назад

      Dr Prepayment acc: 120 ... Then allocate in 12 m: Dr insurance expense: 10 Cr Prepayment acc