Funding of $2,025,000 has so far been secured from The Open Society Foundations, the Ford Foundation, Oak Foundation, and the Wellspring Foundation, demonstrating their belief in the importance of the project, The full budget is projected at £3.35 million up to 2025.
Why fund IFR4NPO in the midst of a pandemic? NPOs have been hit hard by COVID-19. But as the sector recovers, there is an opportunity to build back better, with improved resilience, more efficient grant making processes, fairer resource allocation, and stronger accountability mechanisms.
This initiative has taken 10 years of ground work to start. It will bring far reaching, long term benefits.
No single entity or body in the world is responsible for NPO sector accounting standards, so IFR4NPO relies on funding from many sector stakeholders. We believe this initiative offers the opportunity of a generation to make a lasting contribution to improve the quality and consistency of financial reporting in NPOs internationally, thereby increasing accountability and transparency while reducing inefficiency in the current system. Please get in touch here to explore funding and sponsorship opportunities.
“We’re really excited about this project because of the way it’s been designed to engage NPOs and stakeholders of all kinds – that gives this project a really good chance of success.”
John Bernstein, CFO Vulcan Inc, formerly COO Ford Foundation
We are so grateful to our sponsors below.
