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Know More About RSM Stone Forest

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Not-for-Profit

Not-for-Profit Organisations

While many not-for-profits excel in their primary roles and activities, they often struggle to keep abreast of relevant rules and regulations applicable to Charities and Institutions of a Public Character (IPCs) due to limited resources dedicated to these necessary functions.

In light of events that drew public attention to mismanagement issues and lack of governance in charities and religious organisations, not-for-profits are now under greater scrutiny with the implementation of tighter regulatory requirements and increased transparency demands.


Dealing with Unique Challenges

Charged with juggling these new responsibilities, not-for-profits are forced to operate in a leaner manner and find more efficient ways to deploy manpower. This has resulted in a sharp rise in demand for experienced partners to alleviate strain and keep operations running smoothly.

Focus on your mission while we manage your operations

Tight Budgets

Tight Budgets

Running on tight budgets, many not-for-profits often seek goodwill support from volunteers to perform administrative tasks, which include accounting and compliance needs.

 
Risk of Error

Risk of Error

Some not-for-profits may be using manual systems, relying on spreadsheets to track and record transactions. In such situations, the risk of errors can be high. 

 
Lack of expertise

Lack of expertise

Volunteer book-keepers may not be equipped with the necessary skillsets and operational continuity to fulfil this role sufficiently. 

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Talent Acquisition and Retention

Not-for-profits could consider using contract staff as short-term solution when needing specialised skills to deal with unexpected challenges. Working with a partner that understands staffing needs and requirements could certainly be helpful.

 
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Corporate Governance

Weak governance frameworks and internal processes may result in ineffective performance and non-compliance.

 
RSM Stone Forest

RSM Stone Forest

Our not-for-profit team has been serving the sector for more than a decade. As a leader in serving this sector, we understand the importance of accountability, transparency, and proper governance.

 

The Board of Directors of a charity should be prudent and not expose their charitable assets to significant risk. When assessing the significance of risks, the board should consider the following factors:

 

01
Resources and future plans

02
Nature of the business, the charity's focus on the business and the business environment

03
Viability and sustainability of the business

04
The assessment of risk will involve an element of judgement on the part of the charity board members

Peace of mind while improving efficiency

 

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Any size

 

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Any sector

 

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Any revenue size

 

How we support

As advisors to the Board and its members, we help charities build a strong governance framework and ensure they remain compliant. 

Having in place a strong governance framework and  best practices are essential for the effective performance and operation of a charity. This also allows the Board to focus on the furtherance of the charity’s objects. 

We are committed to helping you stretch every dollar, improve the public’s trust, and meet board financial and tax reporting requirements.

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Accounting and Tax

  • Routine accounting
  • Administrative services (collections / payment / donation receipt / TDR / NTD)
  • Fund reporting
  • Preparation for audit
  • GST accounting & tax compliance
  • Cash flow projections
  • Grant compliance, budget analysis

 

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Formation, Compliance & Advisory

  • Planning and registration of a Company Limited by Guarantee (CLG)

  • Charity & IPC status application

  • Review and drafting of governing documents

  • Conversion of society to company

 

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Staffing Solutions

  • Contract staff

  • Recruitment

  • Employment pass

 

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Payroll & HR services

  • Managed payroll, leave & claims

  • HR compliance review

  • HR work pass management

  • HR Academy

  • Online HR systems

 

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IT

  • Managed IT – AvailEase

  • Technology Consulting

  • Donation / Volunteer / Patient Management

  • ERP

  • Data analysis

 

We track pressing trends and challenges encountered by not-for-profits and assess the implications for our clients. Combining in-depth knowledge with technical expertise, we deliver holistic solutions with real-world practicality.

How can we help?

Complete this form and an RSM Stone Forest representative will be in touch.