Although a Non-Governmental Organisation (NGO), also known as a social enterprise, is typically considered a not-for-profit entity, its long-term sustainability hinges on profitability.
To thrive, an NGO must generate sufficient income to cover its operational expenses. This approach ensures that the organization remains viable and can continue its work over time.
Therefore, emerging NGOs are now strategically created in such a way that they have subsidiaries or initiative that generate the needed funding to run such a social enterprise.
Hence, in a transformative stride towards financial sustainability within the social impact sector, the highly anticipated book, The Profit of Purpose: Mastering Financial Accounting and Reporting for Social Entrepreneurs, recently launched, aims to equip change makers with the crucial financial acumen necessary to thrive.
Discussing on this, executive director of FATE Foundation, Adenike Adeyemi, emphasised the critical role of sound financial management in ensuring the long-term success of mission-driven organisations. Non-profit sustainability is paramount, she stated, highlighting the importance of financial literacy in achieving lasting impact.
The official unveiling and launch of the book was led by Adebola Williams, CEO of AW Network and Dr Orode Doherty, CEO Ingress Health Partners, who commended the authors for providing practical insights tailored to the unique financial challenges faced by social enterprises.
Reflecting on the book’s purpose, the author, , Bukonla Adebakin stated that, “Financial literacy is the backbone of any sustainable impact. For too long, social entrepreneurs have struggled with the complexity of financial management, often at the cost of their mission. This book is my contribution to demystifying those challenges, providing a practical roadmap that enables change makers to focus on what truly matters—driving meaningful and lasting change.”
Addressing some of the most pressing concerns for non-profits and mission-driven enterprises, The Profit of Purpose – Mastering Financial Accounting and Reporting for Social Entrepreneurs, equips social entrepreneurs with financial literacy skills to sustain and scale their impact. The book’s seven chapters provide actionable strategies for fundraising, financial management, budgeting, tax compliance, and accountability. It also includes cheat sheets, FAQs, and exercises designed to reinforce learning.
The launch event featured a high-level panel discussion on Impact Investing: Beyond Donations – Sustainable Revenue Strategies for Non-Profits, where experts explored innovative funding models that go beyond traditional grants and philanthropy.
The Profit of Purpose arrives at a crucial time when social enterprises face mounting financial complexities. By bridging the knowledge gap in financial accounting and reporting, the book empowers change makers with the confidence to navigate funding, compliance, and sustainability challenges.
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