Thursday, 23 April, 2020
Many charities are facing financial challenges due to coronavirus. This new guidance for trustees covers the following points, especially as they apply to smaller organisations:
- identify the problems you face, and the options you have for dealing with them
- get advice from your accountants or auditors, and/or from any networks you are members of (RedbridgeCVS can help, for example)
consider what is in the best interests of your charity
- is it possible to reduce costs?
- is it possible to maintain or increase your income?
- make a plan to keep operations and finances under review
- what to do if coronavirus means your charity can't continue to operate?
You can access the guidance here.