Charities to be consulted on 'obligatory' executive pay disclosure

Thursday 15 May 2014 23.19
47% of charities claim their fundraising has fallen by up to 10% in the past six months
47% of charities claim their fundraising has fallen by up to 10% in the past six months

The newly established Charities Regulator will consult the sector about whether it should be obliged to disclose executive pay.

The announcement was made by the regulator's Interim Chief Executive Úna Ní Dhubhgaill at a conference in Croke Park focused on regulation and public trust, organised by the charities' umbrella group The Wheel.

Over 60% of charities claim fundraising has been affected by the negative publicity generated by the controversies in the sector over the past six months.

According to a new survey by The Wheel almost half say they have seen a fall off in income of up to 10% since last November.

Since the end of 2013, the Irish charity sector has been dogged by controversy with issues of executive pay and pensions. Concerns over transparency and governance have very much been in the public eye.

The Wheel's Chief Executive Deirdre Garvey said charities should move immediately to make executive pay and other matters publicly available by adopting a British financial reporting standard.

Ms Garvey told the conference that two-thirds of charities it has contacted in the Republic have already taken steps to increase transparency.

The survey revealed almost two thirds of the 300 charities surveyed have seen their overall income drop.

47% claimed their fundraising has fallen by up to 10% in the last six months.

In that same period, two thirds have taken steps to increase transparency and strengthen their governance.

Over a third of charities also revealed they have cut back or suspended services in the past year, while 67% say demand for their services has jumped.