The new Statement of Service Performance standard centred around impact reporting, is challenging Charities and Not-for-Profit organisations to think about the impact they are having and how they can measure and report this to tell their story in the most effective way. Measuring and reporting meaningful impact has always been important, but it is becoming even more crucial now because of this.
Although the new standard requires all charities and NFPs to measure and report impact for financial reporting purposes, it has a number of other benefits. Being able to tell your story through measuring and reporting your organisation’s impact enables you to show the community and stakeholders how you are spending your money, why your organisation is a worthy cause to donate to, whether that be money or volunteering hours and what goals your organisation has to help achieve your vision.
How can you tell your story in a way that resonates with your audience?
We talked to several clients and industry professionals to gain their experience on what has worked well for their organisation, the challenges facing organisations, opportunities that organisations can be thinking about and taking advantage of, and of course, what impact reporting means to them and their organisation.
Opportunities for Not-For-Profits
Tips for Success: Not-For-Profits
Impact Reporting - What Does it Mean to You?
Key Challenges for Not-For-Profits
BDO are known as leading experts in the NFP sector, if you would like to talk to us about how you can start measuring and reporting your impact, contact us today.