Charities registered in Education & Research include universities, schools, kindergartens, and registered training organisations. There are over 6,000 in Australia. Nearly half of the total revenue reported in this NFP sector was received from government. Many large universities and schools are included. They are complex organisations with many differing parts beyond teaching faculties and scholarship programmes. The nature of many charities in this NFP sector means that there is less reliance on revenue from donations and bequests.
Education & Research NFP’s place high demands on their finance professionals. It’s hard to get in front of the constant stream of reporting requests and compliance requirements. As your organisation grows in size and purpose, you will need flexible technology solutions to manage complex funding streams and organisational structures. Multi-entity accounting with visibility into the location, organisation, and fund/grant/program transactions is critical, as is the ability to understand the bigger picture at the consolidated level.
“I believe that JMT’s work specifically with nonprofits is extremely beneficial for the simple reason that as nonprofits we deal with our own set of problems and JMT brings a tremendous resource for best practices and a network connection.”
ANNA MARIA COLLEGE