At Economos, we understand the unique needs of a not-for-profit organisation and deliver audits and other financial advice that can help them grow to meet the needs of more people.
Our chartered accountants have years of experience helping not-for-profit organisations meet all their strict compliance requirements and create a healthy financial platform on which they can grow. We assess your organisation, its needs, its risks, and its financial health—and then deliver a strategy that has both solutions to your challenges and suggestions for improvement.
As not-for-profits adopt more strategies from the corporate sector to encourage more accountability and efficiency, they often seek out the services of an advisory firm. At Economos, we take our responsibility seriously to deliver financial and efficiency models that can take your organisation to new heights. We provide you with easy-to-implement, practical strategies that will help you make better decisions, both in your finances and your overall management.
Internal Audits and Reviews
For a non-profit organisation, an audit is required for ACNC purposes and can provide better understanding of your fund-raising capabilities, assess your risks, and identify inefficiencies and opportunities for improvement and growth. Economos will guide you through the review process, explaining each step in easy-to-understand language. After the audit, you’ll have a better handle on how to improve your cash flow, control your expenses, and streamline processes.
Compliance and Tax Advisory
Not-for-profit organisations face a huge amount of reporting requirements to maintain their non-profit status with the ACNC. We can help your organisation fill out all these reports accurately, comply with all the regulations, and adjust to changes in regulations. We’ll also handle your GST and FBT tax paperwork, freeing your hands to do what you love best—help others.
Not-for-Profit Management Advisory
Many not-for-profits depend on volunteers for most of their labour. In many cases, without an efficient management model, these volunteers take on a variety of tasks, mastering none of them. Like in any industry, not-for-profits work best when people competent in one area handle the bulk of the work in that area yet maintaining cross-functional capacities to take on other work as needed. An efficient way to coordinate all the workers—paid and unpaid—is one of the keys to good management. We can also provide advice on salary packages, process improvement, and making your organisation leaner and more efficient, as well as guidance concerning changes in legislation, including the ACNC.
CFO Advisory Service
Having a CFO is a distinct advantage for a not-for-profit organisation. Most of them, though, cannot afford to hire one. At Economos, we can provide you with a CFO advisory service that can help you prepare reports for your boards, identify areas in which you can improve your cash flow, and help you control expenses. With our CFO advisory service, you will have a more sustainable, improved financial performance in every aspect of your work.
Our chartered accountants can help your organisation prepare your quarterly, yearly, and ten-year budgets so you can plan for growth, sustainability, and tackle new challenges as you work to make the world a better place. Having a budget will help you create more accurate financial models, find new funding for proposed projects, and create more strategic plans for your organisation’s future.
Accounting Service for Non-Profits
Economos’ team of experienced accountants knows what not-for-profit organisations require to succeed in its mission. Our accounting team can help you streamline your processes and systems, optimise and manage your assets, create new funding models and financial models, and find areas in which you can cut expenses and improve cash flow. We can also provide you with an operational review and organisation analysis that can help streamline your processes, cut costs, and provide services more efficiently.
What Our Not-for-Profit Clients Have to Say
Andrew Sanders, Director
Dr. George M Calfas
Mr Mark Herdman
Need a Better Business Accountant in Sydney?
At Economos, we take the time to get to know you and your business. If you’re tired of the cookie-cutter approach to accounting, if your accountants are not being proactive enough with forward thinking accounting, property tax, SMSF and wealth strategies then we need to talk. Get in touch with Economos Accountants in Sydney team today.