This section details news updates relating to funding and finance.
Gift Aid Toolkit on CD
HM Revenue and Customs has published a CD toolkit on using Gift Aid to increase charity income. It includes basic guidance, templates, an interactive claim form and other materials. Request it by phoning HMRC Charities on 08453 020 203 or email:
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Financial Services Compensation Scheme
The Charity Commission has issued guidance on the Financial Services Compensation Scheme and on the Icelandic situation entitled “Financial Services Compensation Fund: What it means for charities".
This guidance can be seen here and here
Gift Aid Guide
The Charity Finance Directors Group and accountancy specialists Sayer Vincent have produced 'Gift Aid made simple'. To download a copy of the leaflet (69KB) click here
Transitional Gift Aid Payments Start
Gift Aid Transitional Relief is now being processed by HM Revenue and Customs on all repayment claims made from 1st August for donations received on or after 6th April 2008. This compensates for the reduction in income tax rates. Claims made between 6th April and 1st August 2008 will receive backdated transitional relief payments in due course.
To read more click here
Balancing Financial Risks
Triodos Bank and auditors Sayer Vincent have produced a guide, entitled 'Balancing Risk', to financial risk management for charity trustees
To download a copy click here
Draft Guidance on Professional Fund-Raising and Commercial Participation
The Office of the Third Sector has published a draft guidance document to explain to charities, professional fund-raisers and commercial participators involved in fund-raising ventures, what changes have been made to the requirements of Part 2 of the 1992 Charities Act. The guidance highlights key provisions that came into force on 1 April 2008 and provides some examples of fund-raising statements that in their view would satisfy the new requirements.
To view the guidance click here
Gift Aid Transitional Relief
Gift Aid transitional relief will allow charities to continue receiving 28.2p in the pound on Gift Aid donations made during the next three tax years.
For more information click here
Public Sector Contracts: Negotiation, Tendering, VAT, and Assessing Impact
Updated versions of ACEVO's briefings on public sector contracts: negotiation, tendering, VAT, and assessing impact can be seen by clicking here
Gift Aid - Post Budget Update
HM Revenue and Customs has reassured charities that, with the introduction of transitional relief, there will be no change in how they reclaim Gift Aid,. The transitional relief will be added automatically and not need to be reclaimed separately, although there will be some delay while the legislation behind the Budget goes through the parliamentary process.
To read more click here and here
The Office of the Third Sector (OTS) is supporting HM Treasury’s work to increase levels of Gift Aid, with a particular focus on supporting smaller charities to access the scheme. The OTS is to provide new funding to the Institute of Fundraising to extend the reach of Gift Aid by supporting the development of a training programme marketed to and focused on charities with less than £1 million turnover and a new online Gift Aid Mentoring Forum which will give organisations access to a network of experienced professional fundraisers and practitioners.
In addition the OTS is publishing new guidance on a scheme whereby local infrastructure organisations may be able to act as umbrella charities, channelling donations and claiming Gift Aid on behalf of a number of local organisations. SAVO is investigating the practicalities of the is scheme and will be deciding if it is able to act as an umbrella body for Gift Aid.
Community Money Matters - A Comprehensive Guide To Financial Management And Accounting
Community Accountancy Self Help and Community Matters have produced Community Money Matters, a "comprehensive guide to financial management and accounting for small charities and community organisations".
Written from experience by a community accountant, the 200 plus pages can be downloaded (pdf, 879kb) from http://www.communitymatters.org.uk/resources/docs/Moneymatters.pdf
Briefing on Charity Financial Reporting Thresholds
NCVO, the English umbrella body, has produced a briefing on the official consultation, which closes on 31st March, around proposals to change the financial thresholds for charities on submitting annual accounts and reports.
To read the briefing go to http://www.ncvo-vol.org.uk/policy/index.asp?id=7780
Tendering and Bidding for Contracts, Impact, Negotiation and VAT in Contracts
The Finance Hub, ACEVO and Development Trusts Association have produced briefings on tendering and bidding for contracts, impact, negotiation and VAT in contracts.
These can be downloaded from here
Trustees' Fundraising Duties
The Institute of Fundraising's new ‘Trustees Guide to Fundraising’ provides information on the new fundraising duties under the Charities Act 2006,and includes sections on tax-effective giving, and fundraising law and ethics. The guide It can either be bought for £10 or downloaded for free from http://www.tax-effective-giving.org.uk/downloads/pubs/trustees-guide.pdf
Charities SORP annual update
A technical information sheet for auditors and preparers of charity accounts on the Charities SORP accounting standard, as revised in February 2005, has been issued. This is part of the annual review that is required by the Accounting Standards Board.
For more information go to www.charitycommission.gov.uk/investigations/sorp/infosheet1.asp
Fundraising Organisations Across Europe Join To Create ‘Super’ Standard Of Fundraising Qualification
The European Fundraising Association (EFA) has launched the first standard for a European fundraising qualification. The framework aims to create a shared set of fundraising principles that are recognised across Europe.
The EFA claim, ‘An EFA Certified qualification is a fundraising "passport" that brings both recognition and mobility to work in other cultures to a shared set of principles.’
To find out more go to www.efa-net.eu/efa_cert_miniweb/index.htm
Successful Procurement and Negotiation in the Third Sector
Acevo have developed new briefing papers on best practice in negotiation, tendering and bidding, impact reporting and VAT issues in establishing delivery partnerships and consortia.
For more information visit: http://www.financehub.org.uk/successful_procurement.aspa
Introducing funding and finance for voluntary and community organisations - pocket guides
Guides for funding advisers working with new and small to medium-sized voluntary and community organisations and social enterprises have been produced by the NCVO for the Finance Hub. Each of the six guides contain practical information on a specific area of funding or finance, including case studies, tools and signposts to resources to assist organisations in their search for long-term financial sustainability.
To order a free copy call NCVO Publications on 0800 2798 798 or download from here
Top tips for measuring your outcomes
New Philanthropy Capital (NPC), a charity that provides tailored research and advice to donors and funders on how to give more effectively, has provided ideas on ways that third sector organisations can measure and analyse their results.
To read more click here
Why grants are important for a healthy local VCS
A study of four local authorities’ policies commissioned by the Finance Hub and produced by NAVCA explores the grant funding relationship between local government and the voluntary and community sector (VCS) as part of the local funding mix.
It provides snapshot examples of the grant funding relationship and grant funding practice of four very different local authorities, each of which recognises a need for, and has demonstrated a degree of commitment to, on-going grant provision.
These examples attempt to shed light on the nature of this commitment, the drivers for it and the perceived outcomes of it. The intention is to provoke discussion at national level and amongst local partners who are seeking to address VCS funding issues responsibly.
You can download the report at http://www.financehub.org.uk/grantfundingcasestudies.aspa
Online guides to giving
Arts and Business, the charity promoting private investment into the arts, has launched an online tax guide on how to give efficiently and effectively. It includes a section for organisations on enhancing their fundraising, and note that they use 'arts' to embrace all cultural activity.
For more information go to http://www.aandb.org.uk/taxguide
Help with winning and delivering contracts
Four briefings on various issues around being more effective in winning and delivering contracts have been produced by Acevo with Development Trusts Association. They are:
- Tendering and Bidding Briefing: Give your tender a winning chance
- Impact Briefing: Putting impact at the heart of the tendering process
- Negotiation Briefing: Effective negotiating to secure better outcomes
- VAT Briefing: VAT made simple when working in partnership
To download these documents go to:
http://www.acevo.org.uk/index.cfm/display_page/Sucessful_Procurement2
Ethical investment for charities
Eiris, the ethical investment research organisation, has created a web site aimed specifically at charities and their supporters, to encourage socially responsible investment.
It covers what socially responsible investment is, reasons for doing it and how to go about it.
For more information go to http://www.charitysri.org
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