Gary ‘Butch’ Hendrickson, president of the Council of Voluntary Social Services (CVSS) said that charity organisations need to be more financially transparent in order to attract funding as he pointed that they were operating in a challenging environment where funding was now more difficult to secure due to the pandemic.
Mr Hendrickson made the statement while addressing the CVSS’ Annual General Meeting (AGM), which was held in a hybrid format, recently.
“If you are trying to fundraise, you must be accountable. You must be transparent. You have to run a business and CVSS more than ever before is just another business and we are competing for the dollar out there just like anyone else. It is going to get more difficult until things turn around,” he said referring to the pandemic.
The CVSS president said this requires the publication of annual reports, up to date financials, which are easily accessible to donors.
Mr Hendrickson who is also chairman and chief executive officer of Continental Baking Company Ltd. said that this transparency also included outlining long term strategic plans for the organisation.
“Donors need to know how their monies are being spent and they have a right to know. I promise you this much, if you are more transparent, more current, more on top of your game, you will get the first dollar,” he pointed out.
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