Fundraising Standards Board returns £240k to former members

The FRSB announced its closure today, and returned membership income for beyond July this year

The Fundraising Standards Board has closed after refunding former members almost a quarter of a million pounds in unused membership fees.

The body said in a statement today that it had formally shut down, with membership income for beyond July this year returned to former members.

A spokeswoman for the FRSB confirmed that the amounts returned to former members on their annual membership fees totalled £240,000.

A statement from the organisation said it expected there to be about £20,000 of additional funds remaining once it was wound up, which it would donate to the Small Charities Coalition in the next six to nine months.

The FRSB has been replaced for charities in England and Wales by the Fundraising Regulator, following recommendations made by Sir Stuart Etherington’s review of the self-regulation of fundraising last year.

Andrew Hind, chair of the FRSB, said: "The past decade has seen more than 2,000 organisations come together to commit to best practice and accountability in fundraising, as members of the Fundraising Standards Board.

"We thank all those charities and commercial organisations for their commitment to the scheme, which has laid the foundations for the new regulatory framework, now led by the Fundraising Regulator.

"We hope that this new regulatory regime, together with recent improvements to fundraising standards, will help the sector to rebuild and strengthen public trust, supporting charity fundraising as it develops now and into the future."

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