We appreciate that many charities are currently experiencing financial difficulties, and this can be a stressful time for trustees, who may need to make some difficult decisions. Here are some resources to help guide you during this time.
Charity Commission updated guidance
The Charity Commission has updated its guidance about coronavirus related financial difficulties in charities and how to work through them. This guidance is particularly aimed at smaller charities and covers three areas:
- Financial advice and guidance.
- Considering what’s in your charity’s best interests.
- What to do if your charity cannot continue to operate due to financial problems caused by the pandemic.
This is a summary of the more detailed Charity Commission guidance, CC12: Managing a charities financces: planning, difficult decisions and insolvency.
Further resources to help trustees
- We have collected together some free webinars that are available from national partners, including cash flow forecasting, governing in a crisis, and finance and insolvency.
- We mustn’t forget to look after our own wellbeing during this time, and this applies to trustees too, as well as staff and volunteers. There are a wealth of resources to help with managing anxiety and stress – please see our Coronavirus Community Action page under ‘Managing Anxiety and Wellbeing’.
- RVA Advice Service: If you would like one-to-one support for your charity on governance matters or would like to discuss any of the above in more detail, please contact firstname.lastname@example.org.