Australian Institute of Company Directors – Governance Foundations for Not-for-Profit Directors – 2021/2022
The Australian Institute of Company Directors (AICD), in partnership with the Australian Scholarships Foundation (ASF), are pleased to make 200 full scholarships available to the Australian not-for-profit sector in 2021/2022. The scholarships will be offered in all states and territories across Australia and will enable directors, executives and emerging directors of NFP organisations with a turnover of less than $2m to attend the AICD’s Governance Foundations for Not-for-Profit Directors program.
The Governance Foundations for Not-for-Profit Directors provides participants with an understanding of fundamental compliance and performance related roles and responsibilities of directors, specifically in the areas of governance, risk, financial performance and strategy. This program is offered over 1.5 days and includes the following 3 modules:
- Duties and Responsibilities of the Not-for-Profit Director
- Gain an understanding of the role of the not-for-profit director in governing the organisation and how this differs to the for-profit sector.
- Understand the potential liability of directors and committee members.
- Appreciate the balance between the compliance and performance roles of the board.
- Strategy and Risk for the Not-for-Profit Director
- Appreciate the director’s role in setting and overseeing strategy whilst monitoring risk.
- Identify the link between strategy and risk management, risk culture and effective leadership.
- Enhance organisational performance through effective contribution to strategy formulation.
- Understand personal risk appetite and how this affects board decisions.
- Finance for the Not-for-Profit Director
- Learn to interpret the major elements of the financial statements and the linkages between them to evaluate the financial performance of the organisation.
- Explore how to apply and interpret financial ratios applicable to not-for-profit organisations.
How will I benefit?
Upon completion of this program, you will be able to:
- Identify the key duties and responsibilities of directors in the not-for-profit environment
- Appreciate the potential personal liability of directors and council members
- Understand governance structures as they apply in the not-for-profit context
- Consider the differences / similarities and nuances of the director’s role in the not-for-profit / for profit sectors
- Understand the role of directors in overseeing the strategy formulation and risk management approach of the organisation
- Review the financial statements and the linkages between them
- Discuss how directors in the not-for-profit sector can link the financial statements to understand the ‘financial story’ and health of the organisation
Who should attend?
This program is suitable for:
- Executives accepting their first directorship
- Those who are considering accepting a directorship
- Executives who report directly to a board
- Directors who are seeking to transition into not-for-profit directorship
- Directors of not-for-profit companies and community organisations
- There are no prerequisites for this program.
Applicants must only apply to attend the course in their state or territory of residence.
This course runs over one full day and one half day. Multiple course dates are available in each State and Territory across Australia, between October 2021 and June 2022. Please refer to the application form for full details. You are able to nominate your preferred course date, however your first preference cannot be guaranteed.
Each scholarship covers 100% of the associated course fees and is valued at up to $1,491 each. Travel and/or accommodation (if necessary) are to be covered by the successful candidates or their NFP organisation.
|26 July 2021||Applications open|
|20 August at 5pm AEST||Applications close|
|October 2021||All scholarship applicants are notified of the selection outcomes|
Applicants must be an Australian citizen or Australian permanent resident who fits one of the following categories:
- currently employed as an executive of a charity or not-for-profit organisation
- a current non-executive director on the board of a charity or not-for-profit organisation
- an aspiring non-executive director who may or may not work in the NFP sector but seeks to in the near future
Your current (or prospective) NFP organisation must:
- have an annual turnover of less than $2 million
- be an ACNC registered charity, NFP incorporated association, Company Limited by Guarantee, non-trading Cooperative or *social enterprise
- fulfil ASF’s general eligibility requirements available on our FAQs page
- not support activities that could be considered discriminatory, political, or religious advocacy or activism in any way
*see #7 of our FAQs for guidance on eligible social enterprises
For more information about the program, please click here. For program queries, please contact the AICD directly. If you need assistance with the scholarship application process, please contact ASF via [email protected].
Please note, applicants are not required to submit an endorsement letter for this particular scholarship.
Need help completing your online application? You can view our FAQ page here!
Applications for the AICD’s Governance Foundations for Not-for-Profit Directors course close Friday 20 August 2021 at 5pm AEST.