The Charity Commission had launched statutory inquiries into four charities linked to Christian charity The Barnabas Fund, which is already under investigation amid concerns around financial and conflict of interest allegations.
TBF Trust, Oxford Centre for Religion in Public Life, Reconciliation Trust and Servants Fellowship International are all being investigated. All are part of the “Barnabas Family” of charities, said the regulator.
The move has been taken “after identifying possible risks due to their shared premises, trustees and/or founders, and the flow of funds with Barnabas Fund”, it said.
Last year the Charity Commission restricted any transactions made over £4,000 by the Barnabas Fund while it investigated the charity.
The bank accounts of Reconciliation Trust have been frozen and transactions above £2,500 made by the other three charities have been restricted by the regulator.
Trustees will be required to gain written consent from the Commission for transactions above this sum.
“This follows concerns that charitable funds could be at risk”.
Allegations of unauthorised payments to current and former trustees and that the founders have “inappropriate control and influence” over its management, are among issues being looked at.
“Possible unmanaged” conflicts of interest at the charity, which is known as Barnabas Aid, will also be looked at, added the regulator.
Another issues being looked at is the charity’s relationship with Nexcus, a US-based subsidiary. The regulator wants to see if the charity’s structure and relationship with Nexcus “is in the best interests of the charity”.
The relationship of the four charities with Nexcus will also be looked at.
It had been reported by the Telegraph that there is a possible £15m “hole" in the finances of the charity’s global network, amid concerns over money allegedly given to its leaders.
According to its latest filed accounts for the financial year ending August 2023 it’s total income was £19.5m and it spent £18.2m. These accounts were submitted late by almost five months.
Latest News
-
Corporate support is failing to tackle UK's 'hidden poverty pockets', charities warn
-
RSPB launches emergency appeal following wildfire damage
-
Friday funding round up – 14 August
-
Local government overhaul threatens charities’ links with councils, report warns
-
Some charities will always rely on grants rather than social investment, say researchers
-
Senior Oxfam staffer to lead Charity Retail Association
Beyond the funding squeeze: Using equities to secure your charity’s future
With charities facing increasing financial pressure and traditional income streams under strain, making investments work harder has never been more important. M&G’s Richard Macey and Michael Stiasny join Charity Times to discuss why equities remain a vital long-term asset class for charities, how organisations can balance income generation and growth, and the opportunities the current market environment may offer to help strengthen financial resilience.
Charity Times Awards 2023
Charity Times video Q&A: In conversation with Hilda Hayo, CEO of Dementia UK
Charity Times editor, Lauren Weymouth, is joined by Dementia UK CEO, Hilda Hayo to discuss why the charity receives such high workplace satisfaction results, what a positive working culture looks like and the importance of lived experience among staff. The pair talk about challenges facing the charity, the impact felt by the pandemic and how it's striving to overcome obstacles and continue to be a highly impactful organisation for anybody affected by dementia.
© 2021 Perspective Publishing Privacy & Cookies
Recent Stories