About this opportunity
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.
Scholarship overview
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.
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
Course dates
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.
Eligibility requirements
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
