Self regulation funding agreed

Finance | James Shaw-Hamilton | 1 Oct 2005

The Home Office and Scottish Executive have come together to provide £840,625 first year funding for the initiation of a UK wide self regulatory scheme for fundraising. This will enable the Institute of Fundraising (IoF) to commence implementation of the scheme, in accordance with the business plan, ahead of its anticipated launch in June 2006. It is intended that a part time chair and full time director will be in post by February 2006.

The Home Office and Scottish Executive are proportionately funding the first five years of the scheme, after which it will become self-financing. With 15 per cent of projected scheme members operating in Scotland, the same percentage of core funding was requested from the Scottish Executive.

Self regulation will be independent from IoF. However, IoF and its members will be instrumental in continuing to develop the best practice standards, the codes of fundraising practice, that the scheme is based upon. For more information see Raising Self Awareness feature also from the October edition of Charity Finance (subscriber access only).

Directory: Institute of Fundraising

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