Owner To Owner Podcast

Juggling Passion and Financial Sustainability in the NFP Sector: Jacquie Riddell

Episode Summary

Jackie Riddell and host Michael Kerr explore how not-for-profits and social enterprises can meet everyday financial challenges while maintaining a focus on core purpose. They discuss emerging business models and the need to adapt in a rapidly growing and competitive NFP sector.

Episode Notes

@Jacquie Riddell is an experienced #NFP leader and current chair of the @CBAA. The NFP or #ThirdSector is presenting huge challenges to leadership, employees and the many volunteers. Jacquie and host @Michael Kerr talk about;

Some key takeaways

  1. Not-for-profits need reliable cash, not just goodwill.
  2. The charity sector is overcrowded with over 60,000 charities in Australia.
  3. Passion alone is not enough; capability is essential.
  4. Successful charities adopt business models similar to for-profits.
  5. Governance is critical for the growth of not-for-profits.
  6. Mergers and collaborations can enhance sustainability in the charity sector.
  7. Philanthropy is a major opportunity for charities, especially during wealth transfer.
  8. Post-COVID challenges include reduced revenue and volunteerism.
  9. B Corps represent a growing trend in socially responsible business.

Chapters:

00:00 The Role of Not-for-Profits in Society

05:15 Challenges and Opportunities in the Charity Sector

10:08 Adopting Business Models in Not-for-Profits

15:06 Governance and Capability in Charities

20:25 Social Enterprises and Merging Opportunities

25:18 Collaborative Solutions in Community Broadcasting

27:04 The Importance of Sustainable Revenue

28:59 The Rise of B Corporations and Social Responsibility

31:11 Governance and Effective Leadership in Nonprofits

33:22 The Reality of Nonprofit Work and Organizational Capacity

35:36 Funding Challenges and Opportunities for Charities

37:54 Navigating Post-COVID Challenges in the Charity Sector

39:33 Accidental Retirement: A New Perspective on Career Transitions

41:10 Policy Recommendations for the Charity Sector

@kerrcapital