Birmingham PlayCare Network has been successful in its application to be awarded registered charity status.
The Charity Commission accepted the registration on Monday 25th April.
Emma Payne, Business Development Manager at Birmingham PlayCare Network said:
“BPCN has been running since 1995 as a voluntary organisation, not -for-profit company limited by guarantee. It was decided by our trustees a while ago to investigate the option of becoming a registered charity in particular to give our organisation additional public recognition and trust as we expand our business through our scrapstore facilities as well as increasing our reach from our play in parks programme.”
Financial future
In addition to the positive societal impact that this has for the organisation, it also comes as a result of looking ahead to its future financially. Emma Payne added:
“As we continue in a time of austerity it was considered essential that BPCN prepares financially for the future and being a registered charity will increase the number of grants and trust we can apply to as well as allowing the organisation to benefit from some tax relief.
“Any money generated from our business is reinvested straight back into the playwork sector and in particular play opportunities for children and young people. Moving to charitable status was seen by our trustees as a way of maximising the opportunities we deliver on whilst achieving our aim of promoting the child’s right to play.”
The financial benefits of charitable status
Charities are widely recognised as existing for social good. This can assist with fundraising.
Registered charities also benefit from a variety of tax reliefs including exemption from corporation tax on profits from trading undertaken in the course of charitable provision (primary purpose trading), 80 per cent mandatory, and 20 per cent discretionary, relief from business rates (rate relief), Gift Aid relief on donations from individuals and stamp duty land tax relief on freehold property and leases acquired for charitable purposes.
Charities do not pay VAT on some goods and services. Find out what’s exempt at Gov.UK’s VAT for charities.