While charities and community organisations that rely on philanthropy are likely to feel the pinch, professional and industry associations need to meet with their members around the country to educate and facilitate knowledge sharing. They conduct training courses and provide a range of essential services that require travel, accommodation and venues.
Lisa Bundesen from BDO Kendalls said that while it is too early to tell exactly what effect the global financial crisis will have on Australia’s not-for-profits, she predicts professional and industry associations are likely to weather the storm better than other NFPs.
“I think obviously it really is going to come down to where each not-for-profits’ sources of revenue are coming from. Some not-for-profits have very good businesses that they operate, which help generate good cash-flow for them,” she says.
“I think it’s the ones who are going to be relying on corporate donations and public donations that may be the ones that just need to tighten their belts that bit more.”
Editor of Third Sector, Zelda Tupicoff, agreed.
“There’s no doubt association executives will be watching their cash-flow, but they’re not talking about cutting back on member services and training. I think the important thing to remember is that for professional and industry associations, holding conferences and meetings around the country is not a luxury, but an essential service,” she said.
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