FAO Not-for-Profit is our sub-brand with services, experience, and knowledge tailored for the not-for-profit and charitable sector. We know the unique circumstances and responsibilities of charities and not-for-profits (such as sporting or recreational clubs and social or community services organisations) and thus offer our expertise to these organisations.
Avance Not-for-Profit Specialisation
Avance specialises in providing accounting and taxation services to not-for-profit and charitable organisations using the Avance proprietary FAO Not-for-Profit (NFP) platform. We have experience in providing services to not-for-profits, will collaborate with you on financing and accounting solutions, and have an approach tailored to your specific needs within this sector, including:
- Accounting for NFP specific obligations, including deductible gift recipients (DGRs),
- Tax concessions for NFP organisations, including charity tax concessions for Australian Charities and Not-for-Profits Commission (ACNC) registered charities,
- Extensive auditing and reporting using our FAO Not-for-Profit Cloud accounting platform,
- Business development and forward planning geared to your organisation, and,
- Tailored NFP solutions that are informed by industry-specific knowledge.
What is FAO Not-for-Profit?
FAO (Finance and Accounting Outsourcing) Not-for-Profit is a platform that allows the board or committee managers, and treasurers of not-for-profit organisations to outsource their accounting, tax compliance, bookkeeping, and financial reporting duties. Avance does all the heavy lifting for you.
FAO Not-for-Profit has many benefits, including:
- Being a flexible, scalable platform with the capacity to meet peak reporting periods, changes in technology, or special projects,
- Outsourcing bookkeeping, tax, and reporting, allowing you more time for fund raising or other core activities, and,
- Using an outcome-based pricing model, meaning that you only pay for what is agreed upon and delivered.
FAO Not-for-Profit is delivered under a Service Level Agreement as a fully managed service to ensure quality and compliance obligations are met. This client-oriented service guarantee ensures that managers are not distracted by micro-managing administrative tasks. Instead, you can focus your time on managing your not-for-profit, raising awareness, and organising fundraisers.
For more information, contact Avance today!
The Additional Benefits of FAO Not-for-Profit
Managers and team members are able to focus time on value-adding activities, including:
- Raising community awareness or building organisational membership,
- Caring, consulting, or providing services to those the not-for-profit provides for, and,
- Organising, preparing, and running fundraising campaigns.
Accurate accounts and KPI reports allow managers and treasurers to make more informed decisions in regards to:
- Improving not-for-profit performance, fundraising, and awareness campaigns,
- Managing cash flow, donations, government grants, reinvestment or distribution, and,
- Resource management and analysing the effectiveness of individual fundraising campaigns.
A reduction of admin overhead allows committee members to concentrate on building the organisation through:
- Increasing not-for-profit reputation, awareness, and developing relationships with donors and sponsors,
- Developing the organisation and identifying and implementing strategies for growth, and,
- Creating a systemised and self-managed organisation, which offers managers, and treasurers, peace of mind that their obligations are met.