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Solid foundations Crowdfunding finance Adding social value Positive returns offered by Crowdfunding for charities as The social economy is on the commercial property investment a test bed for fundraising skills march to build a stronger society August/September 2014 l www.charitytimes.com EDITORIAL COMMENT Editor Andrew Holt [email protected] Positive mergers 020 7562 2411 Contributing Writers Dawn Austwick, Rachael Badger, Anna Bloch, One interesting but little focused on trend, is the Dan Corry, Nicola Davies, Harry de Ferry Foster, one that highlighted charities involved in mergers Peter Holbrook, Julie Howell, Tris Lumley, transferred over £225m to form new organisations Paul Palmer, Jayne Phenton, Antony Savvas, last year. This is considerable. Asheem Singh, Sam Simmons Together, the 189 organisations undertaking mergers Design & Production turned over almost £1bn, or some 2.4 per cent of Matleena Lilja total voluntary sector income. This was according to [email protected] The Good Merger Index, the first overview of charity 020 7562 2400 sector mergers, produced by management consultancy Commercial Manager Eastside Primetimers. Cerys Brafield There was significant activity amongst health and social care organisations, [email protected] which accounted for more than 50 per cent of mergers, with a disproportionate 07766 662 610 bias towards mental health and disability charities, reflecting commissioners’ Advertising Manager preoccupation with lower costs and pan-disability provision. Sam Ridley The Good Merger Index also revealed comparatively high levels of merger [email protected] 020 7562 4386 activity in supported housing, community development, minorities, intermediary and religious charities. Subscriptions Broken down into approaches: mergers represented: 23 per cent, takeovers: Joel Whitefoot 43 per cent, subsidiaries: 23 per cent; group structures 7 per cent and asset [email protected] 020 8950 9117 exchanges 5 per cent. Sector hotspots were health & social care (53 per cent of all deals), Subscription Rates (6 issues pa) intermediaries (23 per cent); faith-based organisations (17 per cent), £79pa registered charities £119pa rest of UK, £127pa EU community (15 per cent) and housing (14%). £132pa elsewhere Richard Litchfield, CEO of Eastside Primetimers, noted that the data for 2013/4 shows that many negative perceptions of mergers are misplaced, Printed by Warners Midlands which, of course, is a good thing for the sector. All rights reserved. The views expressed are not necessarily those of the publishers. In 75 per cent of deals, the acquired organisations were able to retain some form of identity, management control and Board representation. The study ISSN : 1355-4573 shows that mergers come in all shapes and sizes, and reach into almost every Published by part of the charity sector. Perspective Publishing, 6th Floor, This suggests the sector is consolidating; or, put another way, becoming 3 London Wall Buildings, London EC2M 5PD leaner and fitter for the future. This can only be a good thing for the sector www.perspectivepublishing.com going forward. On a final note, this is my last issue of Charity Times as Editor, as I move on to Managing Director pastures new. I wish you all the very best in your endeavours and outstanding John Woods work in the sector. Publishing Director Mark Evans Andrew Holt Editor Average net circulation of 9,426 copies for July 13 – June 14 www.charitytimes.com 03 Updates to regulation may not sound like the most exciting development, but we believe that recent regulatory changes can benefit charity investors. Newton has recently launched the Newton Growth Fund for Charities and the Newton Growth and Income Fund for Charities*. These two Non-UCITS Retail Schemes (‘NURS’) are designed especially for the charity sector and will allow charities to eliminate some of the tax costs associated with their investments, specifically: • any profits made from investments will be exempt from capital gains tax • the Fund’s annual management charge will not be subject to VAT • the Fund will not pay stamp duty on UK equities • quarterly dividend payments are not subject to tax These new Funds underscore Newton’s commitment to the UK charities sector, in which we have managed client assets for over 25 years. Call Stephanie Gore on 0800 917 6594 or email [email protected] for more information. @NewtonIM www.newton.co.uk/charities *BNY Mellon Charities Funds is an UK umbrella unit trust authorised by the Financial Conduct Authority as a non-UCITS retail scheme, currently comprising two sub-funds, the Newton Growth Fund for Charities and the Newton Growth and Income Fund for Charities. BNY Mellon Fund Managers Limited is the manager of the fund. Newton Investment Management Limited has been appointed by the manager as the investment manager of the fund. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. Newton is not a tax expert and independent tax advice should be sought. The opinions expressed in this document are those of Newton and should not be construed as investment advice. This is a financial promotion. Issued by Newton Investment Management Limited (Newton), The BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. Registered in England No. 01371973. Newton is authorised and regulated by the Financial Conduct Authority. Charity Times_204x271_1.indd 1 27/6/14 13:51:16 CONTENTS 40 46 27 COVER STORY: BEYOND THE BIG SOCIETY Features Nicola Davies looks at the politics and finance that could indicate future visions of the charity sector COMMercial Property 34 Solid foundations Harry de Ferry Foster answers questions News in brief Columns from leading charities on the issues and approach to commercial property 6-9 Latest sector news 16 Sector reputations investment Anna Bloch on transparency In association with: The Review 17 Political outlook 12 Towards Effective Prevention Rosie Olliver on vision Reviewed by Asheem Singh 18 Localism and scale 13 Rising to the Challenge Dan Corry & Tris Lumley on delivery Reviewed by Rachael Badger 19 After the Big Society 14 Everyday Justice Dawn Austwick on a localist agenda SOCIAL ENTERPRISE Reviewed by Jayne Phenton 46 Adding social value Peter Holbrook argues that social enter- 15 Restoring the Balance prises should play a greater role in getting Reviewed by Paul Palmer Charity Services involved with public service contracts 55 Suppliers Directory WEB DESIGN & innovation Analysis Comprehensive listings of products 50 Digital future and services for the sector When it comes to innovative web design, 10 Fundraising in the dock charities are taking calculated risks where Andrew Holt analyses they promise to deliver substantial return allegations about fundraising on investment, finds Julie Howell www.charitytimes.com 05 NEWS IN BRIEF THE CHARITY COMMISSION has opened In a new report, The Estate We’re In, leading written and produced by Cass Centre for a statutory inquiry into Ummah Welfare think tank Policy Exchange argues that Charity Effectiveness, Mazars, and Foundation, registered charity number the condition of many of Britain’s social Trustees Unlimited, and is primarily 1150190. The charity has objects to relieve housing estates is nothing short of a aimed at people working in the private poverty and sickness and advance national embarrassment. The paper says sector who wish to take up a trusteeship or education throughout the world by that the results of decades of neglect and other volunteer roles in the charity and the provision of services. The Charity ghettoization have led to acute social nonprofit sector. It is also recommended Commission carried out a compliance visit problems that are entrenched and reading for charities who wish to recruit to the charity in June 2013, which included generational. people from outside the sector to help an inspection of the charity’s books and records. During the visit, concerns were identified regarding the governance and financial management of the charity, which the regulator provided specific advice and guidance on. UK BUSINESSES AND INDIVIDUALS who are solving social problems will be celebrated in October at the first-ever Social Investment Awards, backed by the Cabinet Office and RBS. The UK social investment market is worth over £200 million, supporting social enterprises that contribute over £55 billion to the economy each year. The market now employs over two million people in the UK. The market enables ventures that might otherwise struggle to access finance to grow and make an impact on local communities. TODAY’s edUCATION SYSTEM is failing them learn how best to use the skills and many young people from disadvantaged experience of people, irrespective of their backgrounds — according to a new sector background. The guide covers four survey published by an alliance of main areas: The Sector — context, organisations led by Impetus — composition and character; Governance; The Private Equity Foundation. On Culture; How to become a trustee. the eve of GCSE results day, the alliance is calling for schools to do more to prepare their students for life after education. In what was generally a The responses pointed to two main areas of concern: 1. Schools need to do more tough year we are pleased to prepare young people for the world of to have increased our overall work. 2. Young people are crying out for income, excluding donated more relevant, structured and substantial goods and services, by 7% work placement opportunities so they can Caron Bradshaw, CEO of CFG develop transferable skills and gain the right experience that will help them land a job when they leave school. THE CHARITY FINANCE GROUP A new guide entitled BRIDGING THE GAP: has released its 2013-14 annual report, MOVING ONTO TO NONPROFIT BOARDS showing a year of continued change POLITICIANS FROM ALL PARTIES should has just launched as part of the legacy and development, despite the tough pledge to turn around the nation’s most support materials from the Lord Mayor’s economic climate.
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