SGM and CFG Joint Event: Effective and Modern Reserves Management
Scottish Grantmakers started the year with a joint online members’ event with Charity Finance Group on Wednesday 22 February 2023.
Members from both organisations tuned in for a morning of learning and discussion about effective and modern reserves management.
Guest speakers included Rui Domingues, Director of Finance and Operations, Charity Finance Group, Nick Addington, Chief Executive of the William Grant Foundation and Elaine Wilson, Head of Learning and Development, Corra Foundation who presented on current theory and practice around reserves management with reference to the recently published IVAR Report ‘Thinking About….Charity Reserves’ (October, 22).
Rui started the event reflecting on his time in the sector and the special nuances associated with being in the charity sector, acknowledging the challenges around reserves and current demands facing the industry.
Elaine and Nick explored the recently published IVAR report and highlighted some key findings on the reasons charities hold reserves and how charity reserves can be strategically managed.
The microphone was then handed back to Rui to discuss what modern reserves management looks like and how charities can navigate a risk based and innovative approach towards reserves.
In light of the current landscape, the timeliness of IVAR’s report was evident throughout the session as the presentations brought into focus the cost of living erosion and importance of reserves management being tabled for discussion by charities to strategically address past, present and future challenges.
Before the event was concluded with an engaging and insightful Q&A session, chaired by Ali Maclachlan, Chair of Scottish Grantmakers, Ali invited Ben Cairns of IVAR to make a special guest appearance to share his thoughts and reflections on matters raised during the session.
Following Ben’s much appreciated contribution leading into the Q&A the panel welcomed delegate input as members considered answers to the following questions:
How to overcome trustees’ caution towards reserves management;
How to build a relationship between grantmakers and fundraisers to get beyond stringent reserves eligibility criteria;
How to address reserves being consistently above a charity’s policy level;
How to navigate different types of reserves and how reserves can be presented in annual accounts.
Panellists and delegates also shared examples of best practice and various approaches to reserves management and it was clear that communication is a crucial element to discussions about reserves in the sector.
Scottish Grantmakers are delighted to have worked alongside Charity Finance Group to deliver a joint event on such a current topic for the charity sector and also creating a space for enriching conversations.
Overall, it was a great joint event to start a year of learning and the presentations certainly offered plenty food for thought to fuel future discussions.
February 2023