The Charity Commission recently produced some useful guidance for charities on how to manage any cost-of-living financial difficulties.
The guidance covers:
o Trustees’ duties and decision-making.
o What to do if your charity experiences financial difficulties.
o What to do if your charity cannot continue to operate, and
o Reporting a serious incident to the Charity Commission.
The guidance includes plenty of helpful resources, including:
o Guidance on Charity governance, finance and resilience: 15 questions trustees should ask to assist trustees to consider what they should focus on.
o Whether the charity will continue to be able to safeguard beneficiaries and protect them from harm as it goes through potentially significant change.
o Considering the option of mergers or collaborative working. Charities in search of partners for collaboration or merger can use the Charity Commission’s register of charities to find potential partners.
o Links to organisations that have resources and can provide help for charities on the wider set of challenges posed by cost-of-living increases.
The Charity Commission guidance on how to manage financial difficulties caused by the increased cost-of-living can be found on the GOV.UK website.
