Do you have good governance within your charity? Trustees often face significant challenges when dealing with a small charity, such as unclear responsibilities, inadequate financial oversight, and poor communication among board members. However, these governance issues can be avoided with the right awareness and best practices. Effective governance is crucial to the success of any …
The Charities Statement of Recommended Practice (SORP) provides a charity accounting and reporting framework. The Charities SORP is designed to ensure consistency, transparency, and compliance with relevant financial reporting standards. SORP is regularly revisited and updated to ensure it’s still fit for purpose and can meet evolving challenges and the changing not-for-profit landscape. The Financial …
Announced in the last Autumn Budget, Employers National Insurance (ER NI) contributions will increase from 13.8% to 15% on 6 April 2025. Although intended to increase public funding, this poses significant challenges for charities and not-for-profits, which already operate under financial constraints. Therefore, charitable organisations must understand the implications and prepare for potential financial difficulties. …
Navigating the Employers National Insurance Increase. What charities need to know. Read More »
As a trustee, you will regularly meet and attend board meetings as necessary, and they are a key component of your charity’s governance. An effective way to demonstrate that your actions align with your charitable purpose is by taking board minutes. You must act in the best interest of the charity and due to …
Why taking board minutes is important for your charity. Read More »
If you are a UK-registered charity, depending on your income or charity structure, you may need to file a charity annual return. You must file an annual return to the Charity Commission if your charity’s income is more than £10,000 or you are a CIO (Charitable Incorporated Organisation). The charity annual return must be submitted …
Every year, criminals target charities, NGOs and not-for-profits for cybercrime and fraudulent activities as they exploit the current global crisis. Charity fraud can occur in many forms and come from internal and external sources, such as fundraising, banking, tax and Gift Aid, properties and investments or charity identities. Trustees must manage resources responsibly and take …
Did you know you can claim back 25p each time an individual donates £1 to your charity? This is Gift Aid. The Charity Finance Group and their #TickTheBox campaign provide opportunities for UK charities to increase engagement with Gift Aid. Government figures released in July 2023 showed that the amount of Gift Aid claimed had …
Responsibility for overseeing the financial affairs of charities rests with trustees who must safeguard the resources entrusted to them. Charities and not-for-profit enterprises must operate effectively and to the highest financial and ethical propriety standards. Financial transparency is essential for an organisation that wishes to remain with the law but maintain public trust and …
Successful fundraising is critical to the mission of a charity. Not only do you need to ensure that you can raise the funds you need to deliver services and meet your goals, but you also need to ensure that the funds raised are used effectively. Poor fiscal management in the charity and not-for-profit sectors can …
There are charities for all kinds of issues and causes, from local to global, but all of them must comply to strict regulatory framework that governs their activities. The UK charitable sector is one of the largest and most vibrant in the world. It delivers a range of services to individuals and communities both here …
