Posts Tagged: charity finance

Not a happy start to 2015 for charity pension schemes

Many UK charities will have received some unwelcome news in the opening months of 2015 from their local government pension providers. While the funding position overall appears to have deteriorated, the change is not considered material enough to alter the underlying contribution rates. However, there is a sting in the tail for smaller charities in particular. Read more on Not a happy start to 2015 for charity pension schemes…

The new Sorp misses a trick

It feels a long time ago now that the Charity Commission launched a consultation, in summer 2013, on a new draft of the Statements of Recommended Practice for charities’ accounts.

The not-for-profit sector has undergone some difficult times in recent years, and has changed a great deal in the 18 or so months since the consultation launched. So there’s certainly a debate to be had about whether the new Sorp is fit for purpose and whether it addresses the developments of the last two years, such as increased demands on public trust in the sector. Two of the biggest issues the public have in regards to the charitable sector – whether donations are reaching the end user, and whether donations are being used to fund large salaries at the top of the organisation – are firmly finance issues. Read more on The new Sorp misses a trick…

Why the new minister is good news for social enterprises

Rob Wilson, the new Minister for Civil Society, has now been in post since September but is he leading in the right direction for the sector and social entrepreneurs? I believe so. Read more on Why the new minister is good news for social enterprises…

It’s vital to connect the fundraisers to the financiers

For the last seven years, I have been in roles that provide financial or fundraising (sometimes both) support to the third sector. In that time, it’s safe to say I have seen the good, the bad and the ugly. But the toughest meetings I have been in are when the head of fundraising and head of finance are placed in the same room. I have often found myself asking if they are working for the same organisation. Read more on It’s vital to connect the fundraisers to the financiers…

Pension risks: time to take a stand

More charities are seeking alternative ways to generate income. Gone are the days when the third sector was solely reliant on unsuspecting parties agreeing to donate “just two pounds a month”.

The government has slashed public sector spending, including the budget of local authorities. At risk of oversimplifying matters, local authorities have responded by outsourcing some of their services to charities and the private sector. Many charities have gone into public sector outsourcing blind; which in time could prove horrifically costly. Specifically, I am referring to the pension risk that can conveniently transfer to the contract-winning charity. Read more on Pension risks: time to take a stand…