These are things we have found out about potential grant options for Charities plus some new accounting considerations and a general guidance helpsheet for trustees.
Grants for small charities:
- Charities Aid Foundation (CAF) have set up an emergency fund for smaller charities.
Grants from the Arts Council:
The Arts Council England are making 3 funds available:
- £20m to individuals working in the creative sector including artists, creative practitioners and freelancers
- £50m to organisations in the culture sector who are not National Portfolio Organisations or Music Education Hubs
- £90m to organisations who are National Portfolio Organisations.
- For more info https://www.artscouncil.org.uk/covid19
Grants from the National Lottery
The National Lottery are focussing their financing to reach those groups best placed to support their communities they will prioritise faster payments for existing grant holders and applicants using the following criteria:
- Activities specifically geared to supporting communities through this crisis
- Helping organisations overcome any liquidity issues caused by COVID-19.
Accounting for Covid19
Yes, we’ve hardly had time to contemplate the rigours of the shut down and yet there is already guidance on what charities need to consider before signing any accounts from now on and going forward.
The key from the Charities SORP Committee are:
- The measures being taken to contain COVID 19 will impact on charities in many different ways and it is important for charity trustees to understand the impact on the delivery of their activity and their governance including their finances.
- Where a charity is preparing a set of accounts and these have not yet been approved, trustees should consider whether information needs to be included to explain the impact of the COVID 19 situation on their charity.
- There could be changes to the financial statements needed as a result of the COVID 19 situation and it is important that trustees understand and consider these.
- Charities should keep up to date with developing guidance from the relevant charity regulator in their jurisdiction.
For a fuller explanation of things that need considering before signing accounts in these turbulent please speak to your Chariot House contact.
Guide to Charity Trustees
Sarah Chiappini who is a Charity specialist solicitor and who has presented at several of our charity seminars has produced a Covid19 helpsheet which covers several issues including:
- Charity Commission guidance
- Contractual obligations
- Fundraising guidance
- Other practical advice
- Full details can be found at https://filanthropia.co.uk/Coronavirus_(Covid-19)_Helpsheet_March_2020.pdf