Chancellor Rishi Sunak has announced £750m of funding to support the charity sector during the COVID-19 pandemic.
As part of the scheme, £370m will be provided to support small local charities working with vulnerable people through the National Lottery communities fund in England. And £60m of this funding will be provided through the Barnett Formula to Scotland, Wales and Northern Ireland.
Charities providing essential services and supporting vulnerable people will receive a further £360m of direct funding from the Government. Up to £200m of those grants will support hospices, St John Ambulance and the Citizen’s Advice Bureau, as well as charities supporting vulnerable children, victims of domestic abuse or disabled people.
The Government will also match donations to the BBC’s Big Night In charity appeal later this month which sees Comic Relief and Children in Need coming together for the first time for a special night of television. It has made a guaranteed minimum pledge of £20m which it will pay to the National Emergencies Trust appeal.
We know from speaking closely with the Charity Commission and our clients that many trustees are concerned about meeting their responsibilities in the coming months as fundraising activities and charitable donations have been severely impacted. We are pleased to see that the Government is recognising the significant challenges that many organisations in the charity sector are facing.
If you would like advice on your duties as a trustee in relation to your charity’s finances or you are looking to restructure your charity to meet new challenges in the coming months, please speak to a member of our Charities group or Restructuring group.