New book sheds light on new structure for charities
10th June 2013
Voluntary organisations are to benefit from a charity Professor's new book that will help them to understand the latest legislation that governs Charitable Incorporated Organisations (CIO).
The book, 'Charitable Incorporated Organisations' by Gareth Morgan, Professor of Charity Studies at Sheffield Hallam University, is the first book on CIOs to be published and looks to simplify the new structure of CIOs which became law earlier this year. A CIO is a new form of charity that can be formed with corporate status and limited liability but is registered only as a charity with the Charity Commission and no involvement with Companies House. The CIO was created in response to requests from charities for a new structure which could provide some of the benefits of being a company, but without some of the burdens. CIOs only have to submit one set of annual returns but until now, charities needing corporate status had to be formed as charitable companies which meant applying both company law and charity law. More than 200 new charities have registered as CIOs in the last five months and Professor Morgan's new book will give charity founders and their professional advisers simplified guidance of the new law and regulations. Professor Morgan said: "CIOs were, in my judgement, the single most important element in the Charities Act 2006. Now they are finally implemented, CIOs mean smaller and medium-sized charities can be formed as corporate bodies without all the time-consuming complexities of a charitable company. "At Sheffield Hallam University I have been researching issues of structures and regulation for charities and non-profit organisations for many years, so I was delighted when the publishers agreed this book on CIOs. I hope it contributes to making CIOs effective and understandable, so they can deliver the benefits which have long been promised." The first edition of Key Guides: Charitable Incorporated Organisations was published yesterday (6 June) by Directory of Social Change (DSC).