Commission puts boxing charity on the hook
The Charity Commission has opened a statutory inquiry into the Jack Raine Community Foundation, following serious concerns over financial controls and other regulatory issues at the charity, which runs a boxing club in York amongst other activities
17 May 2017
The charity has objects to promote community participation and recreation, in particular coaching in contact and non-contact martial arts, and education. It has reported income of around £200,000 annually over the past five years.
Concerns regarding the financial controls at the Jack Raine Community Foundation were raised with the Commission after it was alerted by North Yorkshire Police that a financial investigation was being conducted into the charity.
As a result, the Commission made an unannounced visit to the charity’s premises in November 2016 to inspect the charity’s books and records. The Commission found insufficient financial records and no evidence of trustee meeting minutes to reflect any decisions taken by the trustee board.
The Commission has established further serious regulatory concerns which has escalated its engagement to an inquiry.
This will examine whether the financial management of the charity is adequate, including whether appropriate financial controls are in place, and if funds were expended in furtherance of the charity’s objects.
It will also look at the general administration, governance and management of the charity and consider whether the trustees have complied with and fulfilled their duties and responsibilities as trustees under charity law.
In order to protect the assets of the charity, the Commission has taken steps to freeze the charity’s bank accounts. It will be publishing a report of its findings once the inquiry is completed.