“Donor Compliance Reporting is fast rising up the list of key issues faced by the finance function in the Not for Profit sector.”
The current political and economic climate means that, whilst private and public sector bodies such as the American and European governments are prepared to spend money funding a variety of different projects, they are increasingly keen to ensure that they can control the direction in which the spend of their funding is going.
At the same time, corporate donors need to ensure that they are not exposing themselves and their reputations to potential risk. They are increasingly turning towards those organisations who can provide detailed spend and time analysis; thus providing assurances that donations are being used in a way which coincides with donors objectives.
Whilst it may never be possible – nor even desirable – to completely align the needs of the charities, corporate and governmental sectors, time@work’s ability to record, allocate and analyse time and expense information can help make this easier.
Whilst volunteers and employees in a not-for-profit environment may feel that administrative tasks are irrelevant, donors increasingly require a record of the actual hours worked on specific projects.
To be successful and achieve user acceptance, a timesheet and expense system, therefore, must be easy to use and allow the employee to be guided, as far as possible, into completing their details correctly.
For accounting purposes, time and costs may need to be allocated across a variety of different donors – for example, a worker’s time spent managing an in-country administrative office may need to be spread over several different donors, for whom projects are being carried out.
Addressing These Needs
Our solutions ensure that Managers and Employees can focus their attention on worthwhile projects rather than administration.
Some of the key features of time@work which enable this are:
time@work has extensive reporting and analytical powers to suit the most demanding requirements of a Not for Profit organisation. Sample reports include:
A Global Charitable Organisation runs projects throughout the world. Their operations in Central Asia do work which is co-funded by the United States government in the form of USAID (United States Agency for International Development).
As USAID funds a number of projects in Central Asia, they must ensure that each piece of funding is being channelled to the correct project.
At the same time, recent political events mean that USAID is required to ensure that its funding is being used for stated purposes.
This organisation uses time@work to record the time spent on each project.
time@work’s standard USAID Donor Compliance Reporting pack produces reports in an acceptable format and so helps eliminate the risk to any future funding.
time@work is also used to ensure that non time-related costs are allocated to the appropriate donor code.