Over the last couple of years we have all been on a journey into the unknown and now we feel like we might have arrived, but…
The Commission has recently issued guidance for inactive or ineffective charities and it hopes to release a total of £20m into the sector by March 2020.
As part of the Government’s Civil Society Strategy this amount was identified as being held, unutilised, in dormant charity accounts. As a result, the Revitalising Trusts programme was launched late last year and so far £10m has already been released.
The programme aims to help charities who find it hard to spend their income on public benefit. As well as support with this, trustees can also get assistance from the programme if they are finding it hard to:
- recruit new trustees
- identify beneficiaries
- find time to run the charity
There are various options open to a charity which finds itself in this situation but these could include:
- transferring its assets to another charity
- closing down, or ‘winding up’
- changing its purposes to continue working more effectively
If you think your charity could be assisted by the programme you can get in touch with either UK Community Foundations (UKCF) or the Charity Commission. Alternatively, your charity may directly receive emails if it has not spent any money in the past 5 years or has spent less than 30% of its income in the past 5 years. The Commission has in fact written to over 1,000 charities in this situation, asking them to seek support.
If you have any queries relating to the above, or other questions regarding your charity, please get in touch with one of our specialists within the sector.