Oak Foundation 56d ago

Across the global not for-profit sector, millions of organisations steward vast resources to advance social good. However, the sector has long operated without a shared standard for financial reporting. This has meant that not-for-profit organisations have had to spend time navigating different national regulations and donor requirements. They also use standards designed for the for-profit sector which don’t work for not-for-profits – often at the expense of time, clarity, and the actual job at hand. Less time spent reporting means more time for the work that matters most. This is why, to help simplify processes and increase efficiency, we are implementing INPAS’s reporting system. Designed to reduce unnecessary administrative burden, the INPAS grant reporting system will free up grantees’ time, capacity, and resources. By prioritising impact over paperwork, grantees can therefore focus on what matters most: serving their communities and advancing their work. In addition, the benefits of the INPAS system don’t stop with our grantees. INPAS’s s reporting system also allows funders to gain greater confidence and consistency in financial information, which supports more informed decisions. In addition, auditors will be able to work within a clearer, shared framework – reducing ambiguity and improving efficiency. The new system will result in a more transparent, trusted, and supportive grant-making process for grantees, funders, and auditors alike. Find out more about Oak Foundation here: www.oakfnd.org.