On Thursday 7 July the new Fundraising Regulator was launched, taking over from the Fundraising Standards Board (FRSB) as the independent Regulator for Charitable Fundraising in the United Kingdom (Scotland and Northern Ireland regulatory requirements are currently being negotiated).
The Fundraising Regulator is a company limited by guarantee, with a paid Executive Board of Directors and a team of staff. It is not a charity, and it will therefore require funding in order to carry out the new system of regulation which has been proposed in response to the Etherington Report in 2015, aiming to go some way to restore the public’s confidence in charities.
The initial start-up costs of the Fundraising Regulator were met by voluntary contributions from 50 of the larger charities but first on the agenda for the new Regulator is to set a levy on charities which will provide the £2-£2.5m that it forecasts will be required to finance annual running costs.
The new levy will apply from 1 August 2016 – 31 March 2019.
The levy will be based on historic financial data that is already in the public domain but the exact method of application and amount of levy to be set per charity is still up for discussion and the Regulator welcomes views on its propositions in the discussion paper which can be viewed here:
You must respond to the draft proposal by 22 July 2016. Please provide your views on the new levy to: [email protected]