Articles written By Better Boards

What is a Charitable Company in New Zealand?

A Charitable company is a private limited liability company registered under the Corporations Act and meeting the definition of a charitable entity. In New Zealand Aotearoa a charitable company has been registered as a charity on the Department of Internal Affairs Charities Register, and is eligible to receive a tax exemption. Charitable Company status is a good choice for group members who want to limit the liability of shareholders, retain flexible decision making, and have a trading purpose.

Who Regulates Not-for-Profit Organisations in New Zealand?

In recent years, not-for-profit organisations in New Zealand have seen several legislative changes that have had a big impact on the sector. For starters, organisational activities and community needs, along with board member responsibilities, risks, and legal obligations have all increased. While all not-for-profits are created to benefit the public and their members, not all of them need to register as a charity. The legal structure and status you choose as a non-profit will depend on whether or not the organisation has a charitable purpose and what activities you plan to conduct.

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Accountability

In the realm of governance, accountability is a foundational concept all board members or directors need to grasp. In the boardroom context accountability specifically refers to the obligation of the board of directors to be able to clearly explain and take responsibility for their decisions, actions, and the overall performance of the organisation they govern. In short, it’s about providing a transparent account of actions taken and decisions made, with an expectation of answerability.

Acquittal

In the context of not-for-profit governance and not-for-profit fundraising, acquittal refers to the fulfilment or discharge of obligations relating to funding arrangements. This term is commonly used when an organisation has received a grant or funding from an external source, such as a government agency, a private foundation or charitable trust. Acquittal Process The acquittal process involves demonstrating that these funds have been used appropriately and according to the terms set out in the funding agreement.

What are NGOs (Non-Governmental Organisations)?

NGOs, or Non-Governmental Organisations play an important part in making services accessible to communities around the world. In 2019-2020, NGOs in Australia delivered 2,758 projects in 93 countries. Their work represents more than $1.27 Billion invested in international projects in 2019-2020 alone (ACFID, 2023). While each mandate can differ, NGOs all have a similar interest in developing social capacity in areas where governments may have little to no access or few resources to take action.

B Corps or B Corporations in Australia

B Corps are a special group of for-profit entities that prioritise the needs of workers, communities, the planet, and consumers, and take a socially responsible approach to their business. Australia and New Zealand are home to almost 10% of the world’s B Corps. In terms of legal status, B Corporations are not a specific category of entity per se, but even so, the industry has incorporated standards and best practices.

What is a Social Enterprise?

In recent years, Australia has faced many social, economic, environmental challenges that have demanded innovative responses and the social enterprise has been one solution. There is a general lack of awareness and understanding of social enterprise. They are not always seen as legitimate businesses despite providing many benefits to the public and their members. A social enterprise is an organisation that operates somewhere between a traditional business model and a charity, raising questions about which governance model and legal structure should be used to manage its activities.

What Are Prescribed Bodies Corporates in Australia?

Prescribed Bodies Corporates (PBCs) represent Australia’s Aboriginal and Torres Strait Islander (ATSI) traditional owner groups. Also called Registered Native Title Bodies Corporate, their legal structure is different from other ATSI corporations. The PBC structure was introduced in 2015 in response to the government’s capacity-building program intended to strengthen Indigenous organisations. The goal was to create more economic benefits and sustainable land management among Indigenous communities in Australia. What are prescribed bodies corporate organisations (PBCs)?

What is board meeting software?

Board meeting software (also known as board portal software) is a specialised online application built for the specific purpose of improving an organisation’s governance and board meetings. This improvement is typically achieved through the software streamlining the administrative tasks a board of directors and their support staff must undertake. Board meeting software can also be used to improve many other types of meetings at the board and executive level, including committee meetings, advisory board meetings, executive team meetings, subcommittee meetings and board task force meetings.