Australian Institute of Company Directors - Governance Foundations for Not-for-Profit Directors (VIC) - 2020/21


Australian Institute of Company Directors - 2020/21 National Not-for-Profit Scholarship Program


The Australian Institute of Company Directors (AICD), in partnership with the Australian Scholarships Foundation (ASF), are pleased to make 130 full scholarships available to the Australian not-for-profit sector in 2021. The scholarships will be offered in all states and territories and will enable directors, executives and emerging directors of NFP organisations with a turnover of less than $2m to attend the AICD's Governance Foundations for Not-for-Profit Directors program. Click here to see a full list of available locations.

Governance Foundations for Not-for-Profit Directors

Scholarship Overview


The Governance Foundations for Not-for-Profit Directors provides participants with an understanding of fundamental compliance and performance related roles and responsibilities of directors, specifically in the areas of governance, risk, financial performance and strategy. This program is offered over 1.5 days and includes the following 3 modules:


1. Duties and Responsibilities of the Not-for-Profit Director

  • Gain an understanding of the role of the not-for-profit director in governing the organisation and how this differs to the for-profit sector.
  • Understand the potential liability of directors and committee members.
  • Appreciate the balance between the compliance and performance roles of the board.

2. Strategy and Risk for the Not-for-Profit Director

  • Appreciate the director’s role in setting and overseeing strategy whilst monitoring risk.
  • Identify the link between strategy and risk management, risk culture and effective leadership.
  • Enhance organisational performance through effective contribution to strategy formulation.
  • Understand personal risk appetite and how this affects board decisions.

3. Finance for the Not-for-Profit Director

  • Learn to interpret the major elements of the financial statements and the linkages between them to evaluate the financial performance of the organisation.
  • Explore how to apply and interpret financial ratios applicable to not-for-profit organisations.


How will I benefit?


Upon completion of this program, you will be able to: 

  • Identify the key duties and responsibilities of directors in the not-for-profit environment
  • Appreciate the potential personal liability of directors and council members
  • Understand governance structures as they apply in the not-for-profit context
  • Consider the differences / similarities and nuances of the director’s role in the not-for-profit / for profit sectors
  • Understand the role of directors in overseeing the strategy formulation and risk management approach of the organisation
  • Review the financial statements and the linkages between them
  • Discuss how directors in the not-for-profit sector can link the financial statements to understand the ‘financial story’ and health of the organisation


Who should attend?


This program is suitable for:

  • Executives accepting their first directorship
  • Those who are considering accepting a directorship
  • Executives who report directly to a board
  • Directors who are seeking to transition into not-for-profit directorship
  • Directors of not-for-profit companies and community organisations

There are no prerequisites for this program.



This course will be held at AICD in central Melbourne, Victoria (more details will be provided to recipients).

Applicants must only apply to attend the course in their state or territory of residence. To see a full list of available locations, click here.



This course runs over one full day and one half day. During the application process, applicants will be asked to select their preference of the following course dates:

  • Monday 29 - Tuesday 30 March 2021
  • Wednesday 28 - Thursday 29 April 2021
  • Wednesday 16 - Thursday 17 June 2021


Scholarship Inclusions:

Each scholarship covers 100% of the associated course fees. Travel and/or accommodation (if necessary) are to be covered by the successful candidates or their NFP organisation.


Important Dates:

Applications open Thursday 8 October 2020
Applications close Thursday 12 November 2020
Scholarships awarded by Wednesday 16 December 2020

Please reserve these important dates in your calendar.



Eligibility Requirements:

Applicants must be an Australian citizen or Australian permanent resident who fits one of the following categories:

  • currently employed as an executive of a charity or not-for-profit organisation
  • a current non-executive director on the board of a charity or not-for-profit organisation
  • an aspiring non-executive director who may or may not work in the NFP sector but seeks to in the near future

Your current (or prospective) NFP organisation must:

  • have an annual turnover of less than $2 million
  • be an ACNC registered charity, NFP incorporated association, Company Limited by Guarantee, non-trading Cooperative or *social enterprise
  • fulfil ASF's general eligibility requirements available on our FAQs page
  • not support activities that could be considered discriminatory, political, or religious advocacy or activism in any way

*see #7 of our FAQs for guidance on eligible social enterprises


Scholar Surveys:

All applicants (regardless of the outcome of their application) will be asked to complete a series of surveys about their expected and realised learnings (once before and twice after the course). Your survey responses will help us to quantify the impact of our scholarships and will help attract funding for education and training for the NFP sector in the future. Your feedback is extremely valuable to the work we do and by completing these surveys you'll be making an important contribution to the future of ASF and the NFP sector overall.


More Information:


For more information about the program, please click here. For program queries, please contact the AICD directly. If you need assistance with the scholarship application process, please contact ASF via



Application Process:


To apply, follow these simple steps:
  1. Click 'APPLY NOW' button below.
  2. Follow the prompts to create an ASF profile page, or log into your existing profile.
  3. Click the red "Make an Application" button and select the scholarship from the drop-down menu (ensure you choose the correct location).
  4. Complete and submit the online application form by the deadline.
Please note, applicants are not required to submit an endorsement letter for this particular scholarship.

Need help completing your online application? Download instructions for Creating a Profile Page and Making an Application.

Applications for the AICD's Governance Foundations for Not-for-Profit Directors course close Thursday 12 November 2020 at 5pm AEDT.

Selection Criteria
The scholarships will be awarded jointly by ASF and AICD to applicants whose completion of the program would, in their view, benefit their current (or prospective) NFP organisation. Selection is merit-based and conditional on the applicant meeting the scholarship eligibility criteria and AICD's entry requirements for the nominated program.
Closing Date : 12/11/2020
Search Tags
Subject Area : Leadership Leadership & Management Personal Development Finance & Investment Governance & Board
Course Type : Short Course
Location : VIC