Press release REGULATOR TO INVESTIGATE TWO CHARITIES OVER REPEATED FAILURE TO SUBMIT ACCOUNTS The Charity Commission has launched two separate statutory inquiries into SharedImpact and

SharedImpact Foundation (UK) Limited. The two charities were set up to improve the financial efficiency and effectiveness of charities by offering grants, financial services and advice.  The

charities have a trustee in common and both have persistently and repeatedly failed to meet their accounting requirements.  SharedImpact and SharedImpact Foundation (UK) Limited were

previously placed in the Charity Commission’s double defaulter class inquiry in March 2021. That inquiry investigates charities that have defaulted twice or more over the past 5 years on

including:   * the trustees’ compliance with their statutory accounting and reporting responsibilities  * whether the charities have appropriate and robust financial controls in place  *

whether the charities are being managed in accordance with their governing document  * whether the charities are operating in accordance with their stated objects and for the public benefit

Additionally, the inquiry into SharedImpact will examine whether the charity has a sufficient number of trustees.  The Commission may extend the scope of the inquiries if additional

regulatory issues emerge.  ENDS  NOTES TO EDITORS  * The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and

Wales. Its ambition is to be an expert regulator that is fair, balanced, and independent so that charity can thrive. This ambition will help to create and sustain an environment where

charities further build public trust and ultimately fulfil their essential role in enhancing lives and strengthening society. * On 22 March 2021, the Commission placed SharedImpact and

SharedImpact Foundation (UK) Limited into the ‘Double Defaulter’ inquiry for charities that are in default of their statutory obligations to meet reporting requirements by failing to file

their annual documents (annual returns, reports and accounts) for two or more years in the last five years.   * On 13 December 2024, the Charity Commission opened two statutory inquiries

into SharedImpact and SharedImpact Foundation (UK) Limited under section 46 of the Charities Act 2011.   * A statutory inquiry is a legal power enabling the Commission to formally

investigate matters of regulatory concern within a charity and to use protective powers for the benefit of the charity and its beneficiaries, assets, or reputation. An inquiry will

investigate and establish the facts of the case so that the Commission can determine the extent of any misconduct and/or mismanagement; the extent of the risk to the charity, its work,

property, beneficiaries, employees or volunteers; and decide what action is needed to resolve the concerns.  Press office Email [email protected] Out of hours press

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Published 31 January 2025