As I sit here to write this, I have handed in our board approved signed financial audited statements to my finance partner who will then scan for publication on Inyathelo’s website and for our annual report.
Greenpeace head, Kumi Naidoo, is facing a series of damaging scandals at the global environmental watchdog, according to a newspaper report.
And to make matters worse the human rights activist, who is the executive director of the Greenpeace, a non-governmental organisation with a budget of R4-billion, is mourning the loss of his father in South Africa.
The CMDS - a registered practice with the South African Institute of Chartered Accountants which acts as accounting officers for organisations that choose not to have an independent audit - believes that 2014 is a year for leaders of nonprofit organisations (NPO) to become more financially alert and astute and so be more aware of financial dangers and pitfalls as well as new opportunities for broadening income streams and building financial sustainability.
Amnesty International is a global movement of more than seven million people who campaign for a world where human rights are enjoyed by all. Our aim is simple: an end to human rights abuses. Whether we're applying pressure through powerful research or direct lobbying, mass demonstrations or online campaigning, we're all inspired by hope for a better world, where human rights are respected and protected by everyone, everywhere.
Zimbabwe expects to pay off decades-old arrears with the International Monetary Fund (IMF) within the next year, despite an IMF forecast that it sees the country's economy weakening further in the 2015.
The country's finance minister, Patrick Chinamasa, says the country has started making token payments to clear the US$130 million in arrears.
Chinamasa, who visited the IMF, states that the government should acknowledge its debt to white farmers for properties seized during land retributions to landless blacks.
Every year without fail, the release of the Auditor-General results on municipalities and municipal entities is the only time that local government is consistently in the news. We are bombarded with news about the ‘best’ and ‘worst’ performing municipalities, but this is done in a manner that separates municipal financial management from the core business of local government- service delivery.
When I was running an Apex non-governmental organisation (NGO) in the mid-1990s, our members were keen to learn how to become financially sustainable. The mid-1990s was an exciting time in South Africa; but also challenging for NGOs. Donors were directing their money to the new government, leaving many NGOs, including mine, to figure out how they were going to survive. I was fortunate to meet Bill le Clair of the Institute for Development Research who invited me to attend a course on building sustainability; and later came to South Africa to work with us.
A well-managed reserve fund is a vital component of any organisation’s sustainability strategy. Reserves provide a safety net to carry organisations through the lean times but they also, crucially, offer the breathing space to enable meaningful collaboration, planning and growth so that organisations deliver the best, most transformative solutions to South Africa’s challenges.
Alan Wellburn from Citadel Wealth Management explains.
There are many risks that confront nonprofit organisations today and some arise where an organisation has a phase of rapid growth in resources. We have noted this, particularly in relation to new ‘social movements’, with activism at their core, which have been achieving significant success in raising public awareness and in raising funds.
Charles Tilly defines social movements as ‘a series of contentious performances, displays and campaigns by which ordinary people make collective claims on others.’
The African Development Bank (AfDB) says the International Monetary Fund's (IMF) supervised economic reform is indicative of the significant improvement in Zimbabwe's cooperation on economic policies and its commitment to address its arrear problems.
The bank points out that the, "Implementation of the Staff Monitored Programme (SMP) should help establish a track record of sound policies and is an important stepping-stone towards arrears clearance and an IMF-supported debt relief programme."