Welcome to our September Newsletter. We are delighted with the response to Exposure Draft 3 so far – thank you! There’s still a few more days to take the survey if you haven’t already… In this edition, check out a super one-page summary of International Non-Profit Accounting Guidance, developed for non-accountants. Find out what European philanthropy organisations make of INPAG in a blog from Philea. And sign Humentum’s open letter to funders in support of locally-led development, which show cases INPAG as an actual solution to help transition from talk to action! Finally, you can deep dive into the technical papers from the recent and upcoming meetings of the Advisory Groups.
We have crafted this succinct one-pager to summarise the problem, the solution and the impact of INPAG, written for non-accountants. To quote CIPFA CEO, Owen Mapley, “I love this summary of INPAG – so powerful and accessible!”.
A huge thank you to the 173 organisations and individuals from 51 countries who have so far submitted responses to Exposure Draft 3 via comment letters or surveys! This is already more than ED2, with notable growth from the donor community, and stakeholders in Europe and East Asia. Your opinions, suggestions, examples, and reasons for agreeing or disagreeing are invaluable to us and the sector.
We will publish all responses next month. The analysis and next steps will be presented in papers to the Technical and Practitioner Advisory Groups as we finalise INPAG in the coming months.
You can still share your thoughts on INPAG ED3 by completing the Survey, which is available until 30 September 2024. The survey consists of 45 questions (you don’t have to answer them all) and can be completed in 10-20 minutes. The quantitative feedback from multiple respondents is incredibly helpful.
It’s in 4 sections:
• About you – just the basics
• Importance of specific areas
• Ease of application of specific proposals
• Agreement with specific approaches
You can take the survey in English or Spanish or French.
The Philanthropy Europe Association (Philea) published this blog called ”Rethinking NPO Financial Reporting: Harmonising for Greater Impact”. It calls out the challenges NPOs face with diverse donor requirements, and the transformative impact of the solution that INPAG offers – a harmonized grant reporting format, easing the burden and improving financial transparency. The blog contains some tangible calls to action for funders among you.
Humentum and CDA Collaborative Learning recently published an Open Letter showcasing INPAG as one of three significant initiatives for funder action. According to the letter, “INPAG will revolutionise support flows and accountability between funders and nonprofits, addressing needs championed by the growing #ShiftThePower movement and others.” As an INPAG stakeholder, you may wish to endorse this letter.
We held the final consultation event of the IFR4NPO project on 4 September, and the feedback was invaluable! For example, participants noted that INPAG could help NPOs better explain their surpluses and deficits. Check out the slides, recording, and a summary of key takeaways from the discussion and polls here.
• Practitioner Advisory Group (PAG): On 12 September 2024, the PAG met to discuss the model for accounting for revenue from grants and donations, from both the grant-maker and grant-recipient angle. The papers and recording from the meeting are now here.
• Technical Advisory Group (TAG): The TAG is meeting for 2 days in London on 26 and 27 September. The agenda and papers will be made available on here.
