The Institute of Chartered Accountants for England and Wales (ICAEW), supported by the Charities Aid Foundation (CAF), has today launched the Charities’ Online Accounts Awards 2009. The awards, which were set up to recognise the charities with the most accessible and transparent online accounts, aim to encourage all charities to invest more time in presenting their financial information innovatively. Graham Ward CBE, chairman of the judging panel and Price Waterhouse Coopers partner said: “High quality financial reporting is as much of an imperative for the charitable sector as it is for the commercial world - no more so than in today’s challenging financial environment. At this time, being recognised for high quality financial information will provide the winners with a powerful message when seeking funding.” John Low, Chief Executive of CAF, said: “All donors and grantmakers want to see the impact their donations are having. The credit crunch means the pool of available funds has got shallower and the need for charities to clearly report on their activities has got deeper.”

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16 October 2008
© Communities Aid Foundation - CAF

The Government should make its dormant accounts scheme compulsory if banks and building societies do not cooperate with it, according to the NCVO. The Dormant Bank and Building Society Accounts Bill received its second reading in the House of Commons last week. The scheme will distribute assets that remain unclaimed for more than 15 years to youth and financial inclusion projects through the Big Lottery Fund.

 
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15 October 2008
© Third Sector

Small businesses feeling the pinch during the credit crunch and being offered interest-free loans of up to £200,000 to improve their energy efficiency. Until recently, the largest loan an SME could apply for from the Carbon Trust was £100,000 but that figure has now doubled - and the size of the overall pot available for loans has also shot up by 45% to £31 million. Hugh Jones, solutions director at the Carbon Trust, said: “We know that SMEs want to play their part in tackling climate change, and reduce their energy costs at the same time. “But in the current economic climate, the tighter credit conditions are making it harder for small businesses to find alternative sources of funding.
 
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13 October 2008
© edie.net

John Low The Charities Aid Foundation (CAF) has made a joint statement with the National Council of Voluntary Organisations (NCVO), Association of Chief Executives of Voluntary Organisations (ACEVO), and the Charity Finance Directors Group (CFDG) following an emergency meeting at HM Treasury. The meeting was convened this afternoon to address the concerns of charities affected by the Icelandic banking crisis. John Low, CEO, CAF; Stuart Etherington, CEO, NCVO; Keith Hickey, CEO, CFDG; and Peter Kyle, Deputy CEO, ACEVO, said: “After a positive meeting this afternoon, the Government promised to make the greatest effort to recover those funds at risk in the Icelandic Bank crisis. We now urge all charities that have been affected to come forward immediately so that we can assess the extent of the problem and work with the Foreign Office, the Ministry of Justice and the Treasury to ensure charities’ vital resources are protected. We will continue to press the Treasury for absolute assurances that charities will not lose out.”
 
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10 October 2008
© CAF

Voluntary organisations concerned about the impact of the global financial situation on their bank deposits have received guidance from the Charity Commission. Click on the following link for guidance on the Financial Services Compensation Scheme and how it affects your organisation: http://www.charity-commission.gov.uk/news/fincomp.asp

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13 October 2008
© WCVA

The Charities Aid Foundation (CAF) welcomes the news that the Financial Services Authority (FSA) has raised protection on deposits to £50,000 in the event that a bank fails. However, this is still some way short of CAF’s proposal for all deposited charity money to be protected. In August 2008, CAF wrote to the Chancellor and the FSA asking that their proposals include full-protection for deposited charitable funds due to the particular nature of their work. John Low, Chief Executive of the Charities Aid Foundation said, “We welcome the raising of limits on protected money from £35,000 to £50,000. “Although many small charities will be relieved to see this increase, for the majority of charities even £50,000 would not be enough to keep them afloat. We will continue to contact the Government about this important issue so that it isn’t forgotten.”

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7 October 2008
© CAF

Latest FSB survey results show decrease in trade and increase in costs for small businesses. The Federation of Small Businesses (FSB) has sent results to the Bank of England of a snap poll demonstrating the devastating impact of the credit crunch, and is calling on its Monetary Policy Committee to cut interest rates this Thursday. Figures released today from the FSB poll reveal that a majority of small businesses have seen their operating costs increase and trade reduced in the last year while most would back a reduction in interest rates by the Bank. Over 80 per cent of respondents said their costs had increased in the last year and 46 per cent had seen a decrease in trade. When asked about increases in the cost of finance such as loans and overdrafts, 40 per cent said they had seen increases in such facilities from the clearing banks. A worrying 51 per cent had seen an increase in their payment times from invoicing to full payment and this reflects the FSB’s concern that large companies are improving their cash flow on the back of their smaller suppliers.

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6 October 2008
© FSB

Graham Russell, CRC Director of Practice, will be taking part in a discussion group on ‘Debt Advice, money guidance and credit unions’ as part of this year’s Northern Financial Inclusion conference. CRC have been working to promote good practice for financial inclusion in rural areas through our Quids In campaign. We’re also taking the rural lead on DWP’s Financial Inclusion Champions Initiative. The Rural Financial Champion will will seek to achieve high level outcomes across three main areas: Helping people to manage their money day to day; Helping people to plan for the future and cope with financial pressure; Helping people to deal with financial distress. Visit the Northern Financial Inclusion conference website to find out more about the event: http://www.ljmu.ac.uk/HEA/financialinclusion/96380.htm

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6 October 2008
© Commission for Rural Communities

A publication for Co-operatives UK written by consultant Jim Brown ‘Community Investment - using Industrial and Provident Society legislation’ gives an overview and practical guide for activists, advisors and professionals on the use of community share issues. As the first paragraph says, communities investing capital in business ventures serving a social or community purpose is not a new phenomenon, but the Fairtrade movement saw the start of the modern use of IPS legislation. See www.cooperatives-uk.coop/live/welcome.asp?id=2397, or download the publication (pdf, 2. 65MB) directly: www.cooperatives-uk.coop/live/images/cme_resources/Public/Community_Investment_using_IPS_legislation.pdf.pdf

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6 October 2008
© VoluntaryNews

Unity Trust Bank plans to open what it claims is the first dedicated social banking operation in Northern Ireland. The bank, which caters for charities and social enterprises, has appointed Amanda Brobyn as development manager to pioneer new services in the province. Brobyn, a former business banking manager at Abbey, will attempt to increase the bank’s client base in Northern Ireland.

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24 September 2008
© David Ainsworth, Third Sector