This scholarship has now been awarded. Read more about the recipients here.
The Australian Institute of Company Directors (AICD) is pleased to open their annual Not-for-Profit Scholarship Program for 2023/24, offering 200 fully funded scholarships.
Since 2017, the AICD has supported Not-for-Profit sector leaders to access foundational governance education to build capabilities and govern their organisations more effectively.
In conjunction with their facilitating partner, the Australian Scholarships Foundation, we invite applications from directors, executives and emerging directors of NFP organisations across Australia with an annual income 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 program 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 educational prerequisites for this program.
“From this course, I’ve been able to better serve the non-profit I am involved with by providing more informed guidance and governance. I’m grateful that I and many others were able to receive a scholarship to ensure we have more representation and diversity on Boards and various other positions where decisions are made”.
Aish Srinivas, Board Member, United Way West Australia Inc. and recipient of the AICD Governance Foundations for NFP Directors – 2021
- Applicants must only apply to attend the course in their state or territory of residence.
- Please note: This course is delivered in a face-to-face classroom environment and is not available online.
This course runs over one full day and one-half days. Multiple course dates are available in each State and Territory across Australia, between August 2023 and June 2024. Please refer to the application form for full details. You will be asked to nominate your preferred 2 (two) course dates within your application. Whilst we endeavour to match successful applicants with their preferred dates, this will not be possible in every instance.
Each scholarship covers 100% of the associated course fees and is valued at up to $1,749 each. Travel and/or accommodation (if necessary) are to be covered by the successful candidates or their NFP organisation.
|Monday March 20, 2023
|Sunday April 23, 2023
|Monday June 12, 2023
|All applicants are notified of the scholarship outcomes
Applicants must be an Australian citizen or Australian permanent resident who fits one of the following categories:
Category one: existing
- currently employed as an executive of a charity or not-for-profit organisation, OR;
- a current non-executive director on the board of a charity or not-for-profit organisation
Category two: aspiring
- An aspiring non-executive director who may currently work, volunteer or has a similar relationship with a specific NFP organisation.
Your current (or prospective) NFP organisation must:
- have an annual income of less than $2 million,
- be an ACNC registered charity, NFP incorporated association, Company Limited by Guarantee, non-trading Cooperative or *social enterprise,
- fulfil the Australian Scholarships Foundation’s general eligibility requirements available on our ASF FAQ page
*see #7 of our FAQs for guidance on eligible social enterprises
Applicants must also comply with the AICD terms and conditions as listed within the online application.
The AICD welcomes applicants who reflect the diversity of Australia’s population and encourage Aboriginal and Torres Strait Islander people, culturally diverse people, and people with disability to apply.
How to apply
To apply for a scholarship, please complete the following steps:
- Click ‘APPLY NOW’ and follow the prompts to create a profile
- Complete an online Australian Scholarships Foundation scholarship application form
- You will receive an automated confirmation email once you have submitted your application.
Please note, applicants are not required to submit an endorsement letter for this particular scholarship.
If you have any adjustment requests or accessibility requirements to complete this application form, please do not hesitate to contact [email protected] or call 1300 248 675.
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 the Australian Scholarships Foundation via [email protected] or call 1300 248 675.
We have compiled some Frequently Asked Questions (FAQs) around applying for this scholarship. Please read these if you have any questions or would like further advice.
Applications for the AICD’s Governance Foundations for Not-for-Profit Directors course close Sunday April 23, 2023 at 11.59pm AEST.