Charity

There are 163,000 registered main charities in England and Wales, it is estimated that these registered charities spend £36 billion each year. This money is mostly spent on charitable activities, which include grants to individuals or other charities. It seems absurd that charities should spend so much money. However, charities have to spend money in order to generate the funds that they need.

Charities generally receive funding from five main sources. These sources are donations and gifts, grants, fees from delivering services, investment assets including shares and profits from trading subsidiaries.

So what is a charity exactly? A Charity is a not-for-profit organisation which embarks on activities, which contribute to the community but generally society. In England and Wales charities earning over £5,000 annually are required to register with the Charity Commission. Charities are for ‘public benefit’ and since April 2008 charities have had to prove their 'public benefit' to the Charity Commission.

Charities are not a modern organisation, within England and Wales’s charities can be traced back to the Elizabethan times. In 1600’s there where three main specific categories of charity; this included relief of poverty, advancement of education and the advancement of religion. Although currently, activities recognised as charitable has expanded considerably and is now defined as the ‘Charities Act 2006’. A few examples include the advancement of health or the saving of lives and advancement of the arts, culture, heritage or science.

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