According to Statistics Canada, the rate of growth in the non-profit sector is faster than the increase in Gross Domestic Product (GDP). This trend is largely due to the tremendous amount of dedication and effort the staff and volunteers of these organizations, who work tirelessly to make it happen. It just proves how powerful and productive a self-governing organization can be when it has a unified vision and mandate to serve the public’s interests. Yet, while the non-profit sector may seem to be one of our healthier industries, it faces some unique challenges such as its dependence on fund raising; self promotion; retaining skilled help (both paid and un-paid); transparency; strategic long-term thinking; and compliance with current accounting standards and federal regulations.
The not-for-profit sector is comprised of a broad range of different organizations - from national foundations, to church groups - they can concentrate on fundraising for disease prevention or cure, medical equipment purchases for local hospitals, athletic or cultural activities, or even school playground equipment. Not-for-profits reach and affect almost every aspect of life and we are all, in some way, dependent on their longevity. As a firm that is dedicated to community service, Wilkinson has a special interest in ensuring not-for-profit organizations comply with the latest in auditing, accounting, reporting, management strategies and practices so they may overcome the challenges they face and operate as efficiently as possible. When we help not-for-profit organizations succeed, we improve the lives of Canadians across the nation.