New ‘Gentle’ financial guide for non-financial charity trustees
Acevo and investment management firm Rathbones have published a “gentle” financial guide for charity trustees.
The report, written by former Acevo chief executive Dorothy Dalton, is aimed at new and inexperienced trustees with little financial knowledge.
Financial governance: a gentle guide for the non-financial charity trustee includes an overview of different charity fund types, budgets, financial performance measurement, risks, taxes and insolvency.
Vicky Browning, Acevo chief executive, encouraged charity chief executives to show the guide to new trustees as part of their induction.
“By giving it to new or less experienced trustees and even experienced trustees who lack confidence when it comes to financial governance, you can steer them towards the areas where they should have informed oversight, and give them the confidence to know they’re asking the right questions to meet their duties.”
Andrew Pitt, head of charities at Rathbones, said: “The vast majority of trustees ensure their organisations are effective and well-run, despite the many challenges they face.
“Yet the case for good governance in charities led by trustees that have a proper understanding of their role has never been clearer. We hope that this guide will prove a useful source for charity trustees across the country.”
Source: Civil Society