Charities Aid Foundation offers £750k loan to aid set-up of Fundraising Regulator

The offer was mentioned in an email sent by Sir Stuart Etherington, chief executive of the National Council for Voluntary Organisations, who carried out the review of self-regulation

CAF: offered financial support
CAF: offered financial support

The Charities Aid Foundation has offered to lend up to £750,000 of working capital to help establish the new Fundraising Regulator.

News of the offer was mentioned in an email sent by Sir Stuart Etherington, chief executive of the National Council for Voluntary Organisations, to NCVO members and others updating them on the progress made since Etherington carried out his review of fundraising self-regulation.

He said that the Institute of Fundraising and the Public Fundraising Association had asked the largest fundraising charities to contribute the set-up costs for the new regulator. CAF, he said, had agreed to hold those funds in trust and provide a working capital facility to help establish the new body.

"These are helpful steps to ensure that the new regulator can start its work as soon as possible," said Etherington.

Hannah Terrey, head of policy and campaigns at CAF, told Third Sector that it had offered to lend the funds to help speed up the process of setting up the new body.

She said that conversations with the regulator about the offer had not formally begun, but they were expected to begin now that Michael Grade had been appointed interim chair of the new body, as announced earlier this week.

CAF is not expected to make a return on any loan and is expected to cover any associated bank charges that might arise.

In his message, Etherington said Grade was a "substantial figure with the experience to drive through the changes that must be made" to the self-regulation of fundraising.

"I have every confidence that under his leadership the new fundraising regulator will become the body it needs to be in order to secure public trust," said Etherington.

He said he would set up a working group of fundraising practitioners and other experts to consider how the proposed Fundraising Preference Service, which would enable people to opt out of all charity direct mail and telephone fundraising, would work.

He said he would publish more details about this group shortly.

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