The Australian Institute of Company Directors (ACID) has opened its National Not-for-Profit Scholarship program to enable sector leaders to develop critical skills needed in the industry.

The program will offer NFPs a range of tools and skills that small organisations could use to excel in the increasingly competitive sector. The AICD-funded opportunity is open to 140 applicants whether they are AICD members or not.

“The AICD is pleased to launch a Not-for-Profit scholarship program to be run in all states and territories in 2018-2019,” an AICD statement read.

“The scholarships are being offered to directors and senior managers of NFP organisations who would otherwise be unable to attend governance education programs due to the financial constraints of the organisation.”

The AICD has partnered with the Australian Scholarships Foundation to improve capabilities of applicants with information and networks to influence the governance environment and promote an understanding of the role of directors.

There will be 20 participants chosen from each state and territory to participate in the scholarship, with courses varying depending on location. The courses include governance foundations for Not-for-Profit directors, foundations of directorship, boardroom financial acumen and the role of the Not-for-Profit Chair, among others.

AICD said it recognises that a competitive atmosphere exists within the NFP sector and notes the complexity the 600,000 organisations face. They also note that Charities alone account for $134 billion in excess to the economy.

“The Not-for-Profit sector impacts the lives of millions of Australians, and thus the governance knowledge of its future leaders is of utmost importance.

“In the fact of increasing complexity and demand on Not-for-Profits, good governance has never been more important to the sector.”

Eligible candidates must be Australian residents and an executive employee, director or potential director of an NFP organisation with a turnover of less than $2 million.

The submissions will take into account the applicants commitment to the NFP sector, specifically on their dedication to improve governance knowledge.

Applications will close 13 June at 5pm AEST.

For more information and to apply: https://www.scholarships.org.au/educators/aicd#.Ww3bge6FPIV