rely on banking services not only for the secure handling of donations, grants, and overall financial management,Sometimes charities are left with no option but to open a business account, leading to problems down,UK Finance launched a Community Banking project, and SCVO joined a wide range of voluntary sector organisations,This will, if it hasn’t already, affect organisations’ ability to manage their finances appropriately,, putting these organisations, the communities they support, and the sector’s reputation, at risk.
https://scvo.scot/p/89511/2024/04/23/the-charity-debanking-landscape
Know your organisation’s purpose It’s vital as a trustee that you know about what your organisation was,You can find this out by reading your organisation’s governing document.,your organisation is and about any potential personal liabilities.,you must always put the interests of your organisation first.,Learn about the finances Find out about the current financial situation of your organisation, including
https://scvo.scot/about/networks/trustee/information-for-new-charity-trustees
Here are some of the ways that you can plan for your organisation.,Write a business plan A formal business plan can be a helpful place to gather : your aims and objectives,Managing risks Inevitably when running an organisation, things will go wrong.,But having good processes in place to predict and manage risk can help you respond quickly and minimise,Business continuity planning A business continuity plan (BCP) prepares and protects your organisation
https://scvo.scot/support/village-community-halls/facilities-management/operational-management/business-planning
Many banks offer special current accounts for voluntary organisations and charities, and most give free,organisation needs, e.g. a local branch to pay in cash from fundraising activities, a savings account,Some accounts require high minimum deposits, so may be of no use to very small organisations.,Consider how your bank's ethos and activities reflect your organisation's charitable objectives.,Your governing document/constitution. Your charity's financial details, eg turnover.
https://scvo.scot/support/running-your-organisation/finance-business-management/bank-accounts
Your organisation can buy insurance to protect its money, people, property and reputation.,Insurance is required by law if your organisation employs staff (including volunteers), operates vehicles,Products Liability, All Risks cover for loss or damage to assets, Loss of Income, Events (either at your,premises or away from the premises) Cyber and other appropriate covers relevant to your activities.,If other organisations rent your hall regularly you should check that they have their own insurance cover
https://scvo.scot/support/village-community-halls/facilities-management/legal/insurance
Which is the best bank account for your charity?,No minimum deposit required and no turnover limitations Account management online, by phone or by post,with a turnover of £6.5m or less Support and guidance on running and financing your organisation Lloyds,minimum deposit required Reliance Bank Part of The Salvation Army, all profits made by the Bank go to support,Business Current Account Account management online or by phone Online banking with single, dual or triple
https://scvo.scot/support/running-your-organisation/finance-business-management/bank-accounts/comparison
SCVO Trustee Bulletin We know trustees are busy people with big responsibilities, so we've created a,The five modules are a great induction tool and will help you run your organisation.,They cover the following topics: Governance Financial Fundraising Communications Risk Management Looking,Contact: sustainability@aberdeenstandard.com To find trustees with financial expertise IMultiply Finance,Black Professionals Scotland supports organisations in meeting their inclusion and diversity ambitions
https://scvo.scot/about/networks/trustee
think about your next steps and secure your organisation's future.,At SCVO, we’re here to support you, promote the contribution your organisation makes and work towards,Our information on running your organisation Now that you’re up and running as a charity, we can offer,lots of support on how you can run your organisation.,SCVO members can access premium content and functionality: Funding Scotland Good governance Your management
https://scvo.scot/support/setting-up/next-steps
