Understanding Challenges In The Third Sector

Understanding Challenges In The Third Sector

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My perception is that charitable organizations like St. Elizabeth depend upon social charity for meeting all requirements. Sometimes they need to borrow from banks or other financial institutions to meet daily expenses, which could prove risky for the organization. I work for the local branch of St. Elizabeth in the finance department and one of my tasks’ is managing finances in an organized manner to ensure smooth running of the St. Elizabeth. In the beginning, the organization was financed primarily from donations. Now besides donations, the organization charges for its services from people who can afford to pay, which enables them to look after poor and destitute people. Large businesses and corporations donate generously to such organizations in the form of cash and kind. They help with the purchase of equipment, construction and contribute whatever is needed for extraordinary circumstances.

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