Fundraising Regulator
Topic: Finance
From HandWiki - Reading time: 2 min
In 2016 the Fundraising Regulator was formed to replace the Fundraising Standards Board.
Fundraising
Charity fundraising is widespread and varied. Professionals and volunteers employ a wide range of techniques to raise funds for charitable causes. Fundraising is a key source of income for many charities; for some, it is their sole income generator. In 2012, it was estimated that there are around 45,000 fundraising charities in the UK.[1] raising more than £11 billion in voluntary income each year.[2]
Fundraising regulation
The Charities Act 2006[3] prescribed the establishment of a new self-regulatory framework for charity fundraising.
In February 2007, a new body – the Fundraising Standards Board (FRSB)[4] was launched, tasked with regulating charity fundraising in line with industry standards (the Institute of Fundraising's Code of Fundraising Practice.[5]
The FRSB was a self-regulatory scheme, with the onus on charities and fundraising suppliers to opt-in to market regulation through the FRSB.[6] Member organisations made a commitment to the 'Fundraising Promise',[7] to adhere to the highest standards of fundraising practice and to being transparent and accountable in their fundraising. By 2013, around half of all voluntary income raised in the UK was being generated by charities that were signed up to regulation through the FRSB.
The FRSB regulated fundraising practice against industry standards, monitoring complaints about charity fundraising and working to resolve issues between the public and fundraisers. Complaints were escalated through a formal three-step process.[8] It published an annual fundraising complaints report.[9] Adjudications on charities' failure to adhere to its codes were published at the FRSB's website.[10]
The Charities Act 2006 reserves the power to replace the self-regulatory model, should it fail, with statutory regulation.
The FRSB was replaced in 2016 by another opt-in self-regulatory scheme, the Fundraising Regulator.
References
- ↑ Hodgson, Lord. "Review of the Charities Act 2006". Cabinet Office. http://www.cabinetoffice.gov.uk/sites/default/files/resources/Review-of-the-Charities-Act-2006.pdf. Retrieved 17 July 2012.
- ↑ "UK Giving 2011". UK Giving 2011. NCVO / CAF. http://www.ncvo-vol.org.uk/sites/default/files/clickable_UK_Giving_2011.pdf. Retrieved 28 August 2012.
- ↑ "Charities Act 2006". Legislation.gov.uk. 2011-05-27. http://www.legislation.gov.uk/ukpga/2006/50/contents. Retrieved 2012-10-02.
- ↑ "Fundraising Standards Board - Home". Frsb.org.uk. http://www.frsb.org.uk. Retrieved 2012-10-02.
- ↑ "Code of Fundraising Practice". Institute of Fundraising. http://www.institute-of-fundraising.org.uk/guidance/codes-of-fundraising-practice/. Retrieved 2012-10-02.
- ↑ "CC20". Charity Commission. http://www.charity-commission.gov.uk/publications/cc20.aspx. Retrieved 28 August 2012.
- ↑ "Fundraising Standards Board - Fundraising Promise". Frsb.org.uk. http://www.frsb.org.uk/fundraising-promise/. Retrieved 2012-10-02.
- ↑ "Fundraising Standards Board - Our Process". Frsb.org.uk. 2012-02-18. http://www.frsb.org.uk/english/advice-and-regulation/complaints/our-process/. Retrieved 2012-10-02.
- ↑ "FRSB Annual Report 2012". Frsb.org. http://www.frsb.org.uk/uploads/About%20Us/FRSB-Annual%20Report-2012.pdf. Retrieved 2012-10-02.
- ↑ "Fundraising Standards Board - Adjudications". Frsb.org.uk. http://www.frsb.org.uk/english/advice-and-regulation/complaints/adjudications/. Retrieved 2012-10-02.
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