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The Charity Commission (the independent regulator of charities in England and Wales) has launched a consultation seeking views about proposed changes to the Annual Return for 2015. The consultation follows changes to the Annual Return for 2012 and 2013, which were made as a result of information gained through previous consultations.
In future, the Commission intends to require charities with incomes between £10,000 and £500,000, and Charitable Incorporated Organisations (CIOs) with an income under £500,000, to provide detailed financial information as part of their Annual Return. Currently, only charities with an income over £500,000 are required to do this.
By collecting and analysing additional financial information, the Commission claims it will be able to identify risks in charities and improve accountability and transparency. This will also help with public and donor demands for more information about where charities obtain their funding and how they spend it.
The proposed additional information required from smaller charities includes details about their total income (including voluntary income and income from investments) and total expenditure on charitable activities.
The Commission is also seeking views about further proposed questions that would reveal how much of a charity’s income has been spent on campaigning activities, how much is received from public service delivery and private donations, and whether the charity has a remuneration policy for paying executive staff.
Read more about the consultation, which closes on 12 August 2014 at http://snipurl.com/291lsin
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