For the fourth year, HLB Mann Judd has surveyed more than 100 members of its Exclusive Not for Profit Community and the wider not-for-profit (NFP) sector on their strategic planning.

The 2024 results reveal that cyber-attacks are one of the greatest concerns of respondents.

This year’s report also found that several economic factors pose challenges for the not-for-profit sector.

Just as in 2023, inflation and interest rates are causing difficulties for not-for-profit organisations. The Australian economy continues to face fluctuating markets and unpredictable shifts, testing resilience and demanding adaptive strategies from businesses and policymakers alike.

Some of the 2024 report findings include:

  • 83 per cent of leaders are concerned about a cyber-attack on their organisation
  • Developing and diversifying funding sources is a priority for 77 per cent of respondents
  • Leaders are still exploring of technology and artificial intelligence
  • 76 per cent of leaders had seen an increase on demand for their services in the last 12 months and were anticipating a similar trend for the year ahead
  • Employee turnover has decreased over the last three years
  • Boards are continuing to participate in setting organisational goals.

The ENFP was founded in 2010 by HLB Mann Judd Sydney in collaboration with the Commonwealth Bank, and brings together senior executives in the NFP sector, focusing on what they need to help them achieve their missions.

This article was first published in Financial Times – Winter 2024.