You may well have seen in the news this week, that we are about to see changes to the way that charities’ fundraising is regulated.
The changes come as a result of a review of the current charity regulation system, following the death of one of Britain’s longest-serving poppy sellers in 2015. Olive Cooke took her own life after being sent hundreds of letters from charities, asking for donations. Olive’s family say that the letters had nothing to do with her death. You can see the full BBC report on this story here.
The review suggested that a new regulator should be set up to keep an eye on any fundraising practices and while it will replace the current Fundraising Standards Board, it will still be based on ‘self-regulation’. This means that charities themselves and their trustees will still be responsible for setting and monitoring the standards, rules and appropriate behaviours for their fundraisers and any activities.
MPs have branded this the ‘last chance’ for Charities to clean up their act, and although we all know that not every charity behaves in the ‘unscrupulous’ manner described in the article, this is sadly the case that every charity has been tarred by the same brush. If no improvement is seen with the new regulator in place, we could see fundraisers being controlled by the law.
If this news is a worry to the way you fundraise, or perhaps you would just like some information to affirm your fundraising methods, click here to see advice from the Institute of Fundraising.
This website states that the information given in their ‘Code of Fundraising Practice’ are the ‘standards expected of all Institute of Fundraising members’. Although you might not be a member of this institute, we still think the advice and regulations given are a good starting point upon which any charity could base their self-regulation.
Whilst self-regulation appears beneficial to charities individually, allowing them to mainly operate relatively freely, it can mean that trustees are left with a huge responsibility, ensuring that the charity is run and fundraising is carried out suitably. For this reason, we very highly recommend, along with the Charity Commission regulations, that as a Charity, you purchase Trustees Indemnity Insurance.
This type of cover protects trustees and their personal assets should litigation be brought against them as a result of accidental errors made in their capacity as trustee.
If you would like more information on Trustees Indemnity cover, or would like a quote for a policy for your charity’s trustees, please do not hesitate to give us a call on 01564 730900.
Photo Credit : Steph Morris, Edwards Insurance Brokers