JGP News
A snapshot of some of our most recent work and an insight into some of our ideas on the hot topics and issues that affect the public and not for profit sectors, and how we are responding to them.
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Charities urged to have unrestricted funds awareness
It is important that those working for charities are aware of the exact amount of money they have in unrestricted funds, it has been reported.
At a Charity Finance Directors” Group (CFDG) conference, such professionals stated that it is crucial that those in the third sector make sure that they are financially well prepared for unforeseen events, ThirdSector.co.uk reports.
Charles Nall, chair of the CFDG, said: "Restricted income is the vast majority of money for many small charities, but it can”t always cover something unexpected happening."
He added that as unrestricted funds are set to become more scarce, charitable and voluntary organisations should ensure "they are exceptionally alert to the possibility of anything going wrong".
Meanwhile, Don Bawtree, head of the national charity unit at BDO Stoy Hayward, reported that although a significant number of charities may currently make estimations about their unrestricted funds, there is now a need to make more accurate calculations.
Such news could be of interest to those charities that are looking to maintain sustainable efficiencies.
Earlier this week, Martin Brookes, chief executive of New Philanthropy Capital, claimed that although the credit crisis has meant some "large pots of wealth have been destroyed", it is important for charities to prove their effectiveness to those would-be donors.
More about sustainable efficiencies.
