Whether it is Brexit or the mixed messages about the economy, now is a good time for all charities to be asking themselves as to where they stand. In no particular order these are questions trustees and the executive team should be asking themselves.
- What effect is the present uncertainty having on our charity and its activities?
- Are we financially strong enough to sustain our activities?
- Do we know what impact this uncertainty is having on our donors and support for our charity?
- Do we have sufficient reserves and if not do we have adequate plans in place to achieve them?
- Have we reviewed our banking arrangements and (where relevant) our investments and could we manage our cash flow better?
- Have we reviewed our contractual arrangements such as leases, rental agreements etc recently?
- Have we reviewed any contracts to deliver public services and are they cost effective for our charity?
- If we have a pension scheme, have we reviewed it recently?
- Can we make better use of any permanent endowment investments we hold?
- Are we an effective trustee body?
- Do we have adequate safeguards in place to prevent fraud?
- Are we making best use of the financial benefits we have as a charity e.g Gift Aid?
- Are we making best use of our staff and volunteers?
- Have we considered collaboration with other charities to share resources and ideas?
- Are we making the best use we can of our property or other assets?
These are not the only questions to ask yourselves but dealing with these questions will go a long way to ensuring that your charity will be able to deal with the uncertainties which are currently affecting us all.[With acknowledgement to the Charity Commission where these questions originated]
If I can help to facilitate this exercise please do not hesitate to contact me.