Finance and Sustainability Advisory Committee
- Ascend GRC
- Mar 12
- 2 min read
Terms of Reference
1. Purpose
The Finance and Sustainability Advisory Committee provides strategic oversight and expert guidance on Ascend GRC’s financial management, long-term sustainability, and funding strategies. The committee ensures that Ascend GRC operates with financial integrity, transparency, and resilience, while exploring innovative funding models to support its not-for-profit mission.
2. Objectives
The committee’s key objectives are:
Financial Governance – Ensure sound financial management practices and compliance with financial regulations applicable to not-for-profit organisations.
Sustainability Strategy – Develop and recommend long-term financial sustainability strategies, including revenue diversification and cost efficiency measures.
Funding and Grants – Identify and advise on funding opportunities, grants, sponsorships, and partnerships to support Ascend GRC’s growth and impact.
Risk and Compliance – Provide oversight of financial risks, regulatory compliance, and reporting obligations.
Investment and Resource Allocation – Recommend strategies for effective resource allocation and responsible investment to ensure financial resilience.
3. Membership
The committee shall comprise individuals with expertise in finance, accounting, investment, fundraising, and sustainability, including:
Financial and investment professionals
Experts in not-for-profit financial management
Legal and regulatory specialists in financial compliance
Representatives from corporate finance, government, or philanthropic organisations
The Managing Director and Executive Team may attend meetings in a non-voting capacity.
4. Roles and Responsibilities
Committee members are responsible for:
Reviewing and advising on financial planning, budgeting, and sustainability strategies.
Identifying funding sources, grants, and sponsorship opportunities to support Ascend GRC’s operations.
Assessing financial risks and recommending mitigation strategies.
Ensuring compliance with financial reporting, audit, and regulatory requirements.
Advising on efficient resource allocation and responsible financial stewardship.
5. Meeting Frequency and Structure
The committee shall meet at least quarterly or as required.
Meetings shall be chaired by an appointed Committee Chairperson, with an agenda distributed in advance.
The Committee Chairperson shall report key recommendations to the Managing Director and Executive Team.
6. Reporting and Accountability
The committee reports to the Managing Director, with recommendations provided to the Executive Team.
Meeting minutes and key decisions shall be documented and shared for review and implementation.
The committee may request additional financial reports, data, or expert advice as required.
7. Review of Terms of Reference
These Terms of Reference shall be reviewed annually to ensure alignment with financial regulations, sustainability trends, and organisational needs. Any proposed changes must be approved by the Managing Director.