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Not-for-profit sector
The not-for-profit sector (the third sector) in New Zealand covers a wide variety of entites ranging from small local community groups to large multi-branch organisations. These primarily include fundraisers, service providers and grant givers.
These organisations are established with the objective of addressing a social need, rather than simply to provide a service or generate profits. Their revenues are put towards either serving their client group or achieving their objective.
In this section there are information and links relevant to the not-for-profit sector based on the following areas:
Not-for-Profit Sector Advisory Committee
The Not-for-Profit Sector Advisory Committee (NFPSAC) is a committee established to promote an understanding of not-for-profit sector issues within the Institute and its members. The NFPSAC also promotes the use of better practice for accounting, financial management and business methods for members, not-for-profit organisations and others working in and for the not-for-profit sector. It liaises with other committees and the special interest groups on these issues. The NFPSAC has prepared much of the material on these pages.
The NFPSAC also provides advocacy for not-for-profit issues. An important and challenging area is financial reporting with the long awaited review of the General Purpose Financial Reporting Framework under review by both the Ministry of Economic Development and the Accounting Standards Review Board. Information is available here.
MED and ASRB Discussion Documents
The Ministry of Economic Development (MED) and the Accounting Standards Review Board (ASRB) have produced two discussion documents that propose radical changes to the statutory framework for Financial Reporting and Assurance in New Zealand. Many of these proposals affect not-for-profit entities. View more information.
The NFPSAC has produced preparatory responses to a number of the questions raised in the discussion documents.
Kevin Simpkins, Chair of the ASRB has put together this presentation outlining how it is proposed not-for-profit entities should report. Not-for-profit SIGs
There are also special interest groups (SIGs) at three branches of the Institute who facilitate programmes for members, such as continuing professional development (CPD) courses and other networking opportunities. The contact details for these SIGs are:
Auckland SIG group coordinator or telephone: +64-9-917 5924
Wellington SIG group coordinator or telephone: +64-4-474 7887
Christchurch SIG group coordinator or telephone: +64-3-377 1458
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