Money Matters: Can Charities Compensate Their Trustees?

In this episode of the Nonprofit Bookkeeper, Aishat discusses the complexities surrounding payments to trustees in UK charities. She explains the legal framework that allows for such payments under certain conditions, the importance of transparency, and the potential risks involved. The conversation also covers reimbursements for expenses and the need for careful documentation and justification when considering salaries for trustees. Aishat emphasizes the importance of aligning decisions with the charity's mission and maintaining integrity within the organization.

KEY TAKEAWAYS

• Trustees are responsible for overseeing a charity's operations.
• Payments to trustees are allowed under specific regulations.
• Charities must document agreements and ensure market rate compliance.
• Transparency  ...