Not-for-profit Treasurers’ Group roundtable

On the 15th of September, the ACT virtually hosted the inaugural roundtable meeting of the Not-for-profit Treasurers’ Group. Over 50 people, members of both the ACT and the Charity Finance Group, took part in the first of a series of events aimed at those working in treasury for a not-for-profit organisation. The needs of those working in this sector are often different from those in the corporate world and this was a chance for those that do to hear from others, ask questions and share experiences. 

The meeting was moderated by ACT Chief Executive, Caroline Stockmann, who has significant experience in the sector having worked at the British Council and Save the Children International as well as Southbank Centre before joining the ACT.  The meeting started with an introduction from the four ambassadors: Brian Cheyne, Director of Treasury Services, Open University; Edward Collis, Treasurer, Save the Children International; Tariq Kazi, Head of Treasury of the housing association Optivo; and Annemarie Moore, Director of Treasury Services, Plan International.
Each ambassador spoke about the challenges they have been facing recently in their respective organisations which included ESG, insurance, attracting talent with limited resources, mental wellbeing and diversity and inclusion. All of these topics and more have unique implications for not-for-profit organisations. 

There are also stresses and pressures on treasury teams in these organisations because of the impact on people’s lives. Looking after cash on behalf of donors is a great responsibility. The role of the treasurer is to make improvements where possible to make the organisation’s time and money go further. When funds are limited and you are trying to get the most out of people’s donations to help as many people as you can, cutting costs on financial transactions can really make a difference. 

In recent years income has changed for many of these organisations. More grants are becoming contracts with donations being given after a specific project has been completed. Getting the funds together to do the work in the first place can be a real challenge plus there are FX risks in many regions that you just can’t hedge. In the world of contracts, the pool of money doesn’t change, and the outcome has to be the same but the rates do change and the donors don’t cover these variances. 

Some of the other big issues were:

• how do you get cash to very difficult regions where it is needed the most such as Syria, Myanmar and Afghanistan? Especially where there are so many sanctions and legal barriers to be considered?
• how do you invest money? Not-for-profits can be held to a higher standard of ethics, so everything needs to be very transparent whilst still ensuring the best returns for the good of the organisation and those it is helping
• how do you maintain the mental health and wellbeing of your team in times of high pressure and stress?
• how do you onboard new members of staff in the virtual world and get them used to a change in culture from the private sector to the not-for-profit?

Overall, the ambassadors and audience agreed that there are many unique challenges faced by treasury and finance teams in not-for-profit organisations and that is why this series of events is so important to share ideas, experiences, thought leadership and to connect people together. 

This inaugural event took place in the form of a general roundtable, which we will plan in every so often, but most of the series will be taking a focus each time on one or other topic, with an introduction from a thought leader before further discussion.

The series will continue in 2022; please check the ACT events page for future meetings.