Philanthropy Impact

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Glossary item: Reserves - Definition

That portion of a charity’s income funds set aside for essential, but as yet unidentified, future expenditure. The Charity Commission defines reserves as “that part of a charity’s income funds that is freely available”. This definition therefore normally excludes permanent and expendable endowment funds, restricted funds, and any part of unrestricted funds not readily available for spending.

This glossary item is tagged under:

  • Government, legal and tax issues