At Hood Sweeney, our vision is to be recognised for who we are, not what we do. We are proud of our involvement in the NFP sector over the past thirty years and recognise the enormous contribution made by the sector to the Australian economy and its social fabric.
Hood Sweeney actively supports the NFP sector with all of our Directors, and many professional employees, contributing their time and expertise at board and committee level.
Our support is across a wide range of well recognised and respected NFPs throughout South Australia, providing advice related to governance, financial management, strategy and planning, as well as supporting specific initiatives at team levels.
Our work in the NFP sector
Our client was a government funded and regulated not-for-profit organisation seeking strategic governance advice at board level to establish itself as a stand-alone entity trading independently.
How did we assist them?
We conducted a thorough review of the organisation’s constitution, leases, service agreements and existing corporate structures to understand any technical barriers to implementing the transition and establishment of an independent entity. In addition, we reviewed the relevant governance controls and compliance frameworks. During the course of the review, we identified a number of issues in relation to corporate governance which, if not addressed, would have caused significant risks to the Directors of the organisation.
Specific issues included the legal status of the employees, the types of services that were being provided both to and from the client, as well as several constitutional breaches that would have been incurred under the proposed transition. Insurance had not been considered and recommendations were provided for the amount and type of insurance required. Implementation of a new accounting system was another area identified as a key gap in the organisation’s capability where our Technology team was able to assist.
What was the benefit?
The client received a comprehensive report that clearly detailed all of the issues we identified and provided a clear and pragmatic approach to address these problems. Implementation of these recommendations will result in a well governed new organisation from the outset, whilst alleviating director liability.