The recent closure of a number of charities, including some well-known, high profile organisations, led to a Charity Commission investigation into the charitable sector’s financial resilience.
The resulting report highlighted that trustees who actively take early, pragmatic steps to identify and manage financial difficulties are likely to achieve better outcomes for their charities and the beneficiaries whose interests they guard.
At Gibson Hewitt our talented specialists work closely with trustees and other stakeholders, dealing with financial concerns in a sensitive manner in order to safeguard the charity’s good name. We have experience of working with charities in all states of financial health and can provide both rescue solutions and insolvency advice.
We are able to advise trustees on their legal obligations and potential liabilities, provide professional advice and support when dealing with creditors, including any pension trustees, whilst working to protect the charity’s reputation and assets.
If your charity is showing signs of business stress or you are concerned that your finances do not quite stack up, it is important to act swiftly to ensure that you are not in breach of your legal duties.