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Definition
The Australian Charities and Not-for-profits Commission (ACNC) is the national regulatory body responsible for overseeing charities and not-for-profit organisations (NFPs) operating in Australia.
What is the Australian Charities and Not-for-profits Commission?
The ACNC is responsible for registering and regulating charities and NFPs to ensure they meet certain standards of governance, accountability, and transparency. Organisations seeking charitable status or tax benefits must register with the ACNC.
Charities registered with the ACNC are required to submit annual financial and operational reports, which are made publicly available on the ACNC Register. This transparency improves public trust and confidence in the charitable sector.
The ACNC provides education, guidance, and support to charities and NFPs to help them understand their obligations, improve governance practices, and comply with regulatory requirements. This includes online resources, workshops, and guidance materials.
Furthermore, the ACNC monitors compliance with regulatory requirements and investigates complaints or concerns regarding charities and NFPs. It has enforcement powers to address non-compliance, including the ability to revoke charitable status or charge penalties.
The ACNC maintains a public register of charities and NFPs, providing information about their purposes, activities, financials, and governance. This register serves as a valuable resource for donors, stakeholders, and the general public to make informed decisions about charitable giving.
Example of the Australian Charities and Not-for-profits Commission
Happy Paws Animal Shelter, a local nonprofit dedicated to rescuing and rehoming animals, recently obtained registration with the Australian Charities and Not-for-profits Commission. This milestone allows Happy Paws to improve its credibility and accountability, ensuring that donors and supporters have confidence in the organisation’s commitment to animal welfare.
yet? Register here!