About the series
Managing a not-for-profit organisation’s finances can be challenging. Trustees (charities)and directors (CICs) are responsible for making sure their organisation is financially robust enough to operate in line with its purposes and meet the needs of beneficiaries. This series of four sessions aims to guide you through some key areas to support your organisation and boost your confidence and knowledge in the most important areas of managing finances.
About the workshop:
If you want to help your not-for-profit organisation become more financially sustainable, its important to consider the concept of reserves and full cost recovery. Reserves are the things you hold back to be able to deliver your activities when you need to. We will look at why you might need reserves and how to work out what you need. Full cost recovery means ensuring that all costs (including overheads) for delivering a project are covered by the funding you have.
Participants will learn:
By the end of the session, participants will have a better understanding of:
- How to calculate full cost recovery
- What happens to your reserves if you don’t raise enough funding to cover overheads and how to deal with this situation
The trainer:
Elaine Alsop has over 25 years experience working closely with charities, community interest companies and other voluntary and community groups, develop and strengthen their financial management.
