A joint initiative for nonprofit IT already exists (anyway)….
In late January 2022, an article appeared on the “Chronicle of Philanthropy” urging grantmakers to stop resisting nonprofits’ request for technology funding. Particularly when it comes to IT fundamentals, architecture, integrations, cyber-security and core applications for project management, these topics are not high on the list of funds and donors. While they are essential for…
NGOs and Foreign Exchange (FX) – part 2
Woord en Daad implemented a strategy, whereby the currency profits/losses are compensated through a separate forex risk fund. The basic idea is straightforward: deposit all profits in a fund and withdraw all losses from that same fund. And monitor the balance. In this way, project budgets are not affected by exchange rate differences over which you have no influence, and a partner knows in advance which (local currency) budget can be counted on.
NGOs and Foreign Exchange (FX) – part 1
“Foreign exchange management for NGOs”. This was the title of a presentation by Arnold van Willigen, financial director of the Woord en Daad foundation, during the meeting organized by Partos. Organizations handle foreign currency and its inherent risks differently. All kinds of factors can lead to different strategies. For example: Who in the supply chain bears the currency risk? Some organizations choose to transfer the currency risk to the recipients end (by entering into Euro contracts). Other organizations take the currency risk themselves (by entering into contracts in local currencies). In any case, the lesson is that currency risk cannot be reduced to a financial risk.
10 common mistakes to avoid for IATI publishers
IATI regularly organizes community events, where members and interested parties share knowledge and experiences. Recently, the IATI Virtual Community Exchange was held. Spread over two days, there were both plenary and parallel workshop sessions on transparency, data use, analytics and new initiatives. Some sessions were theoretical and conceptual, but most sessions were very practical. So…
The Volunteer Dilemma at Social Impact Organizations
Many NGOs not only have paid staff, but also volunteers. All these people do their work with enthusiasm and commitment. They do valuable work for the organization and for society as a whole. NGOs also sometimes have to invest in making their internal processes better. You can think of an automatic telephone answering machine, because…
The end of Excel? It can be done! Real-life experiences.
The other day I spoke to an enthusiastic controller who, after a few strong cups of coffee, proudly announced that he wanted to show me something. “This is really great”, he said. His face looked a bit like my son’s just after telling him we are going to the zoo. “Look”, he said…
Get your project financing well organized with ProjectConnect
Managing project financing is not always easy – you probably have experienced challenges like difficult grant conditions, overdue reports and the complexity of finding the right funds in order to efficiently implement development programmes on the other hand. Donors and not-for-profit organizations have a somewhat symbiotic relationship, they do need each other. That’s why managing…
Effective Collaboration in Partnerships
How might we support organizations who are at the start of their partnership to collaborate effectively and inclusively in their temporary setup? This was the central question for our Joint Action Group #6, part of the Spindle initiative of Partos. One of the Spindle projects addressed the Digital Journey, to build an innovation upon the needs of the Dutch development organizations and discover solutions for digital challenges.
Managing Social Impact Projects with ProjectConnect
ProjectConnect is a sector-driven initiative. NGOs participate as ProjectConnect partners and work within ProjectConnect together with strategic knowledge partners, with the aim of further expanding the platform and optimally supporting the information provision and cooperation around social impact projects.