The Charity Commission publishes update on current and future funding model
The Charity Commission has been awarded funding from the Government of £5 million per year to help it respond to significant increases in demand on its core regulatory functions, including registration and compliance.
This funding has been awarded as a interim solution, while the Commission considers longer term, more sustainable funding models.
This includes the regulator consulting on whether the largest charities should make a modest contribution to the Commission’s enabling work, aimed at helping over half a million trustees across England and Wales manage their charities effectively and efficiently. The Commission now plans to launch a formal consultation later in the year.
Tracey Crouch MP, Minister for Sport and Civil Society, says
The Charity Commission does vital work regulating this vibrant sector and ensuring the public can support charities with confidence.
I am delighted that this funding will mean the Commission can meet the increasing demands for its services and help charities continue to improve lives up and down the country. It is important that the sector continues to innovate, and this includes the Commission considering a range of funding models for the future.