The Institute of Chartered Accountants in England and Wales (ICAEW) has published an interesting guide on the most common myths and misconceptions about charities.
The guide touches on how charities are run, carry out their work, are funded and staffed, whether they are liable for tax and their vulnerability to fraud, among other issues.
The misunderstandings around these topics can pose as real threat to the sector:
"Charities play a vital role in society. People’s goodwill and generosity remain the lifeblood of the sector, but this is at risk if the public misunderstand what charities do and how they operate."
Credit: ICAEW website.
The full article explores 10 of the most common myths and misconceptions and encourages charity trustees, staff and their advisers to communicate transparently on areas where misconceptions are prevalent.
Cranfield Trust charity clients are experts in their fields, with great expertise in service delivery areas, but they often have limited opportunity and resources to invest in management development for their teams. Through our pro bono management consultancy and mentoring, our volunteers work alongside inspiring charity leaders of over 700 charities a year supporting them in areas of business strategy and financial planning and helping to empower charities with confidence and capabilities to thrive, and dispel these myths.
Visit the ICAEW website to read the full guide.