Welcome to our latest Not-for-Profit bulletin and my first as head of this important sector, in both the region and PKF Francis Clark. I am very proud to represent our firm in this market and have absolute confidence that conventional charities, the education sector, housing associations and community interest companies have an incredibly important role in society today.
This bulletin has a huge variety of information and I am sure there is something here for everyone that has an interest in the market. However, I just wanted to give you my perspective on the third sector landscape and what I am seeing and hearing from my clients, large and small, across the region.
Whilst it is always difficult and perhaps dangerous to look for common themes, I have noticed a link around funding. Many of my clients are becoming increasingly entrepreneurial in their attitude to income generation. Whilst this could be related to donor fatigue, or genuinely more opportunities out there, there is definitely a recognition that trying to squeeze more out of the same sources is getting harder and harder. In response, I see charities and similar organisations becoming more diverse and imaginative than ever before in trying to benefit their stakeholders in the best way possible.
Clearly, this needs to be balanced with the need to not ‘bet the farm’ and make sure that the mothership is protected, but a willingness to try with enthusiasm and a modicum of risk is definitely evident. This brings challenge, but also reward and an opportunity to generate a portfolio effect of income to stand the organisation in good stead for times to come.
We hope you enjoy this edition of our not for profit bulletin and do get in touch if you want to discuss any of the topics included.