Solutions tailored for not-for-profits (NFPs)

The not-for-profit (NFP) sector is a constantly changing and challenging environment.

Often, with limited resources and a focus on social outcomes, they must navigate important governance, tax and compliance issues.

LDB Group works closely with a variety of NFP organisations ranging through associations, public companies limited by guarantee and private ancillary funds.

As LDB has worked with a number of not-for-profits, we understand the diverse and unique needs of these types of organisations.

We offer a range of services, tailored to meet the specific needs and regulations required by non-profits.

Setting up entities

LDB is well versed in supporting not-for-profit businesses, from founders through to large and established organisations.

We can assist with setting up entities within a non-profit business, guiding you in the selection of appropriate entity structures.

Not-for-profit board support

Boards in the NFP sector are commonly comprised of a collection of passionate people from all walks of life trying to make a difference in their communities.

LDB has considerable experience in working with boards to understand their diverse skills and needs, then working to assist the organisations with their short- and long-term goals.

As part of supporting your board and providing an experienced independent financial viewpoint, LDB can:

  • Review periodic board reports and financial statements
  • Evaluate board proposals
  • Support funding applications
  • Assist in development of board reporting mechanisms and dashboards
  • Develop fraud mitigation strategies.

Accounting support

Many non-profits often run lean administration teams. LDB can provide effective additional support to ease the burden, including:

  • Setting up and providing support for online accounting systems (e.g. MYOB, Xero, QuickBooks)
  • Reviewing the organisation’s chart of accounts for alignment with key metrics and board reporting needs
  • Interpreting accounting and offering guidance on current standards
  • Preparing periodic management accounts and annual financial statements
  • Providing guidance and oversight in respect to cashflow management
  • Preparing annual operating and cashflow budgets
  • Assisting with GST compliance.

Tax law assistance in respect to:

  • Compliance with charitable status
  • Employment arrangements and salary packaging, as well as review and set up of appropriate banking controls.

Audit services

Many organisations, particularly those required by their constitution, wishing to convey transparency to members, and those required by legislation, are required to undergo regular audits.

There may also be various stakeholders involved who need to be assured that an organisation is being properly managed.

LDB’s auditing services go beyond simple assurance that your obligations are being met. Should we identify any areas that could be improved, we actively help you address them and develop processes that improve performance and mitigate risk.

You can read more about our audit services here.

Modelling, feasibility and business plans

Working together with the board and executive team, LDB can assist with key strategic initiatives on a project basis including:

  • Preparing profit and loss and cashflow modelling for various needs including grant applications, ROI and project reporting
  • Reviewing feasibility studies for organisational projects and acquisitions including evaluation of opportunity costs
  • Preparing business plans to support organisational goals.

Corporate governance

With a long history of working with the NFP sector, LDB can assist boards with building a corporate governance framework that protects the reputation and people of the organisation beyond strict legal duties and in accordance with best practice. This includes:

  • Performing periodic review of charitable status
  • Evaluating need for formation of sub-committees and establishing terms of reference
  • Defining purpose, strategy and vision statements
  • Setting up policies appropriate to organisational needs
  • Establishing performance measures
  • Reviewing risk management processes.

Treasury support

Where your organisation has established a corpus of funds as a prudent reserve, the financial advisory arm of LDB can assist with investing those funds conservatively in an appropriate manner consistent with the risk profile of the organisation.

As part of this process we can:

  • Assist with development of a formal treasury strategy including:
    • Identifying and managing risk
    • Establishing investment policies to protect corpus and achieve appropriate return after inflation.
  • Implement appropriate periodic reporting to the board.

Call in the not-for-profit experts

If your not-for-profit originations requires the expertise and guidance of accountants and financial advisors that understand your sector, LDB is perfectly placed to help you.

Our team of specialists have up-to-date knowledge of changes and requirements for NFPs, giving you the peace of mind that your non-profit organisation is operating effectively and adhering to important tax and accounting requirements.

To find out how LDB Group can help your not-for-profit organisation, call us on (03) 9875 2900 or complete the contact form below and we’ll be happy to assist.