How to keep charity support flowing in a recession

05 October 2009



A team from B P Collins played a key role in a seminar designed to help charities ensure they can stay one step ahead in the current economic climate.

The event, which also included UK200 Group member Keen Phillips Accountants, was hosted by Clydesdale Bank and held at its Chilterns Financial Solutions Centre in High Wycombe.

Together, the three organisations covered issues such as practical ways for charities to maintain income streams in difficult financial times and the practical banking issues which affect charities.

Among those attending from the charity arena were representatives from Signhealth, Thames Valley & Chilterns Air Ambulance, South Bucks Hospice, Ian Rennie House Hospice, RSPCA and the Buckinghamshire Economic & Learning Partnership.

Lining up from B P Collins’ employment law team was partner David Buckle who, together with colleague Diane Gill, senior associate in the corporate and commercial team, talked about the potential legal pitfalls and commercial considerations that charities should think about when entering into agreements with third parties.

Afterwards, Diane Gill, who is also a member of the firm's charity law team, said: “In the current economic climate, when charities and not-for-profit organisations are facing an uphill battle for support, it is even more important that they recognise their liabilities and understand how to limit them.

"The idea behind the workshop was to bring together a team of professional advisers to talk about the issues being faced by charities and to discuss ways in which they could continue to grow in the future. It was an extremely good event and the amount of discussion and feedback demonstrated just how valuable the audience found the session."

Her views were echoed by Lara Davies, regional deposits partner at Clydesdale Bank, who said: "Charities tend to be loyal to existing banking arrangements, but in times of economic uncertainty, having a spread of relationships is the smart thing to do.

"Each bank will have a Corporate Social Responsibility agenda focussing on areas such as the community and the environment and our advice is to find a bank with a synergy with your charity. Many banks will have a charity partner, don’t be afraid to ask if that can be you."

Jonathan Russell, chartered accountant at Keen Phillips, who talked about how to raise money in a recession, added: "Many organisations are having to work much harder at encouraging both regular and new donors to continue to provide support. We wanted to show that by being innovative and proactive, charities can still maintain the cash flow that they need.”

The B P Collins corporate team is appointed to the regional panel of Clydesdale Bank plc.

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