The impact of being a trustee

As a finance professional working predominantly in the Not-for-Profit sector, a key part of my role is to understand the various frameworks, regulations and accounting rules specific to charities. Charity professionals need to have a breadth of knowledge that might be difficult to achieve on top of all of the other day-to-day tasks of operating a charity.

There are more than 170,000 charities registered with the Charity Commission and more than 900,000 trustees, all of whom need the requisite skills to take leadership responsibility for their charities.

So, in 2022, I decided to put my skills to good use and volunteer as a trustee with a local charity, Independent Domestic Abuse Services (IDAS), an organisation that provides refuge accommodation, advice, advocacy and practical support for women and their children experiencing domestic abuse.

2 years into the role, here are my learnings so far:

People perspectives

I have found it to be very humbling to share space with people who are so passionate about the role of IDAS. The drive to ‘make a difference’ is palpable and the diversity of the board of trustees is great to be a part of. There are people from all walks of life, from those with backgrounds in policing, law and schooling, and those who have advocated for the safety of women and girls for decades.

Self-development

It’s one thing to understand the intricacies of charity accounting and reporting from a technical perspective, but it is another thing entirely to have first-hand experience of the challenges facing charities. As part of my role at Grant Thornton, I contribute to sector development reports where we discuss risks facing charities. Sitting in a trustee board meeting, looking at real numbers and seeing truly how the organisation is affected by factors such as cyber security and inflation, adds real weight to my understanding of the challenges and opportunities present for the sector.

Time

Everyone is busy. Balancing work, family, friends, eating well, going to the gym, hobbies and more is hard, without throwing “trustee” into the mix. The honest truth is that the time I allocate to IDAS is equivalent to 8 formal meetings a year (almost all online), an hour or two a month to check in with the Head of Finance, and a couple of days a year for in person strategy days. Sometimes we attend ad-hoc online training sessions too (for instance, a session on cyber safety). Whilst I do dedicate my time to IDAS, we’re not talking 20 hours a week. The value and experience that I receive from being a trustee far outweighs any time commitment.

The rise of ESG (Environmental, Social and Governance) in recent years has driven professionals to have a sense of ‘doing our bit’ and I would implore those who can to seek out a trustee role. It’s rewarding, it’s important and it builds so much perspective and context for our day-to-day jobs.