Over the past year, charities in the UK and across the world have understandably focussed on immediate solutions, finding short-term fixes to short-term problems. But the emphasis on the short-term means that charities have often overlooked, neglected, or simply ignored elements of charity work that promote sustainability. That is particularly true when it comes to financial management.

 

Charities are not focussing on finance. Some charities lack the necessary knowledge and skills, others lack time and resources, others do not have the right digital tools in place. Some simply imagine that finance is too complex, beyond their capabilities, or simply not that important.

 

That’s a problem. Research shows that the charity sector has very low financial literacy, which leads to insufficiently detailed financial records, poor impact reporting, and a lack of financial planning. That, in turn, makes it difficult for charities to provide adequate transparency and accountability.

 

Today’s podcast aims to help. Host Ioan Marc Jones is joined by Braam du Plooy, Finance Controller at Atlanta Convention and Visitors Bureau, and Joan Benson, Director of Non-profit Industry Marketing at Sage Intacct, to explore the state of financial management in the UK charity sector.

 

The podcast covers the contributing factors to low financial literacy, how charities can improve financial literacy, how improvements can benefit the charity sector, and so much more.