Expanding into Europe

Article Abstract:

The creation of a single European market has opened up tremendous fundraising opportunities for the UK's 185,000 registered charitable organizations. British charities have gained a wider audience, considering that the European Union (EU) has a population of 370 million while the UK only has 56 million people. However, trusts, limited companies, unincorporated associations, Royal Charter corporations and other forms of charities can successfully expand into other EU member states only by carefully considering the different regulatory and fiscal legislation in these countries. The first thing that charities intending to operate in other parts of Europe need to do is to seek legal or professional assistance during the planning stage. This will ensure that they are at least complying with the legal and tax requirements of the country they are in.

Educational, religious, etc. trusts, Educational, Religious, Charitable Trusts, Grantmaking Foundations, Foreign operations, Associations, European Union, Charitable trusts

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Disciplined accounting regime

Article Abstract:

Charitable organizations in the UK will have to prepare themselves for compliance with new accounting guidelines intended specifically for them. The Charity Commission recently issued the latest revision of the Statement of Recommended Practice (SORP), 'Accounting by Charities.' New regulations under Part VI of the Charities Act 1993 were also published recently. The Commission expects all incorporated and unincorporated charities to fully adopt the SORP as soon as possible. However, since the regulations will become operative on Mar. 1, 1996, charities will not be required to comply with them until accounting years ending on or after Mar. 31, 1997. Charitable companies will be required to comply with both the Charities Act and the Companies Act.

Accounting and auditing, Accounting, Philanthropy, United Kingdom. Charity Commission

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Support with strings attached

Article Abstract:

Many British charities feel that their increasing reliance on government aid is compromising their independence. These organizations are turning to financing from the government because they have been struck by so-called 'donor-fatigue,' which means that the public and the media's goodwill and interest have dried up due to a spate of catastrophes. Unfortunately, there is a catch to cash provided by the government. Most government funding for charities is required to be distributed either geographically or for a particular task, usually relief projects. Moreover, the government is not willing to allow its money to be used for long-term rehabilitation projects, which most charities believe are more important than relief operations.

Finance, Donations, Cover Story

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