Managing a charity or social enterprise in this uncertain and continuously evolving economic and regulatory climate can be challenging and extremely demanding, in respect of both time and money.
Much of the grant income that previously sustained charities has since been substantially reduced and competition for the public’s support is greater than ever.
To respond to this, not-for-profit organisations are having to take a long, hard look at their plans and many are now employing new strategies such as forming trading subsidiaries or collaborating and merging with likeminded enterprises.
Not only this, but charities are having to get clever about how they utilise emerging sources of financial support and how they make use of new technologies to engage with donors, beneficiaries and volunteers.
An accountancy solution for Charities
We have a dedicated team of experts, led by Toni Hunter (who was one of the first practice accountants to be credited with the ICAEW’s Diploma in Charity Accounting (DChA)), ready to advise charity clients and organisations operating in the not-for-profit sector.
Our experienced partners and accountancy professionals are familiar with the regulatory requirements affecting charities and we understand the unique challenges impacting upon the sector, including the need to operate as efficient, cost-effective businesses.
We know that you need to make every penny count; which is why we work with you to identify opportunities to reduce costs, without needing to compromise your offering or dip into reserves, even during particularly trying times.
In all our work with the Third sector, our proactive and practical advice is designed to help you find financial stability whilst also achieving your core objectives. We can:
- support the Trustee board, and help them to understand their roles and responsibilities;
- assist you with appraising and strengthening governance procedures;
- help you to set accounting policies that are consistent with the Charity SORP;
- provide considered tax planning advice (Gift Aid, VAT efficient trading structures etc.);
- assist you with forecasting, benchmarking and other performance-related activities; and,
- advise on diversification of income streams, fundraising and securing grant income.
We can also provide management services such as bookkeeping, payroll and audit, in addition to our standard accounting and business advisory services. Find out more here
To find out more about the audit, accountancy, taxation and business advisory services that we offer to charities and not-for-profit organisations, contact our advisers in Cambridgeshire, Bedfordshire or Hertfordshire.