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MAGIC BUS RAISES 130,000
Magic Bus UK, is a not-for-profit organisation raising funds for projects in India that work with children living in some of the most marginalised circumstances in the world. Using sport as a medium the charity enables children to realise their true potential and offers them experiences that helps them find a purpose in life. The programme helps them understand their own ability and take responsibility to change their communities in a sustainable manner. Since its inception in 1999, over 60,000 children have taken part in Magic Bus programmes and the organisation is currently expanding its programme to a national platform.
EnCams (Keep Britain Tidy)
Charity Business has been working with ENCAMS, an environmental charity responsible for the Keep Britain Tidy Campaign, in order to ensure its risk management is compliant with Charity Commission legislation.
ENCAMS had no Internal Audit function and having just set up an Internal Audit Committee, were needing guidance on how the Committee should function as well as support for the Internal Audit and associated risk management.
To support these requirements, Charity Business was selected to operate as internal auditors ensuring that the Committee and the charity had not only independent advice but the flexibility of support. Following the introduction of new legislation, risk management has become critical for registered charities. It is important for organisations to fully understand how efficiently they work, assess what their major risks are and establish controls to minimise risk. In many cases, organisations do not have the time or expertise in house to carry out this type of work. The opinion of someone external to the organisation, as in the case of Charity Business, is often invaluable as well as bringing experience of similar organisations.
Bankers Benevolent Fund
The Bankers Benevolent Fund approached CB Financial to review its current investment fund which had not had a review for a number of years. The new portfolio required adjustments to allow for the charitys new investment aims and requirements, with the income target now to be set at 3.5%. This would enable the charity to embark on a new programme to attract beneficiaries, and help distribute charitable support.
CB Financial firstly reviewed the Investment Policy, bringing it into line with the new objectives of income balanced with managing risk. Capital return was still a priority. A Total Return Approach was to be adopted for the generation of income this would allow for the fund to take a more diversified investment approach in the future.
