This article covers some of the key misconceptions the public have about how charities manage their finances and help clarify the facts.
Does your charity make grants to overseas bodies? Be aware of growing scrutiny from HMRC on the funding of work overseas by charities.
Most charities need public support; therefore, how people interact and think of charities is intrinsically linked to what they can do.
With a long history of philanthropy and a deep-rooted commitment to transparency and accountability, the UK has developed a comprehensive framework that ensures the effective governance and financial management of charities operating within its borders. Finances are important, but are only part of the story of what makes a charity successful.
Does your charity have good Gift Aid processes in place? Are you making most effective use of the Gift Aid scheme?
We’ve noticed an increase in investigations by the Charity Commission linked to the non-submission of annual returns, reports and accounts, particularly where there has been non-compliance over a sustained period of time. So, what can you do to make sure your charitable organisation is not at risk of this?
In an attempt to slow price rises, the Bank of England has increased interest rates for the thirteenth consecutive time to 5%, the highest in almost 15 years.
Under charity law, a charity’s funds are either income funds or capital funds, and are either restricted or unrestricted. Knowing what nature of resources you have and what this means for how you can use them is essential for making the most of what they can achieve.
Having effective internal financial controls is vitally important for charities of all shapes and sizes. Putting meaningful checks and procedures in place will help ensure trustees protect their charity’s assets and finances, as well as enhancing the quality of their decision making, as they seek to put those assets to work for the public benefit.
Charities exist for people’s wellbeing. The resources they have are devoted to the pursuit of their purposes to achieve that. A crucial part of those resources are the people. Find out in this article how good stewardship of a charity’s people is a prime responsibility for trustees…
Charity trustees are the people who lead a charity. They play a vital and rewarding role that contributes to the wellbeing of those involved and affected by their organisation. Trustees have legal control over and ultimate responsibility for the charity, so the law places important duties on them…
Accurately completing the Charity Commission Annual Return should be a top priority for all charity boards. The data declared on it is used by the Commission to regulate the sector and is often the first information a member of the public will see about your charity, when searching on the charity register.
