The Charities Regulator recently released its 2024 annual report and we have detailed some of the main highlights from the report.
- 11,445 charities on the Register of Charities
- Estimated to be worth €32 billion to the economy and involve over 280k employees
- 4,752 are registered companies
- 331 have an income over €5 million
- 127 newly registered charities
- 6,023 charities are set up for the Advancement of Education being its charitable purpose which is the largest charitable purpose of all charities
- 60% of charities filed their annual report on time (2% increase on 2023) and 76% filed by the year end (2% decrease on 2023)
- The regulator has developed a ‘traffic-light’ system to show more clearly where a charity was complying with its reporting obligations.
- The system, which applies to annual reports due for filing from April 2025 onwards, indicates if a charity is on time in making its returns, is late, or has not filed at all.
- 4,466 charities declared they have fully implemented the Charities Governance Code by the end of 2024
- 199 charities were deregistered
- 38 charities removed for failing to file annual reports
- 8 charities prosecuted for failing to file their annual report
- 493 concerns raised and 3 investigations closed
- Governance Issues, Legitimacy of Charity and Financial Control and Transparency are the top 3 concerns raised
- The Regulator introduced a charity classification standard in 2022 and 1,310 charities have used the standard to classify themselves and the Regulator is encouraging all charities to complete their classification.
- The Regulator is reviewing of the guidance material on implementing the Governance Code
NB: The content of this article is provided for information purposes only and does not constitute legal or other advice.
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