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A construction industry scheme for charities is a good idea for any professional advisor who wishes to help in the development of a new building or refurbishment. The professional can then benefit from the scheme as well as the charity, making it an ideal partnership. However, there are several factors that need to be considered before a professional adviser moves forward with a scheme. This article aims to help those considering such a move by providing a brief introduction to three aspects of the process that need consideration. As well as discussing the basics of the strategy, it also looks at the various options open to a charity to receive funding from a professional agent. Finally, we examine the role that a qualified accountant or Chartered Accountant can play in this process.

Professional Accountant Factor’s

There are a number of factors that make a professional accountant the right person to consult on a construction industry scheme for charities. The first factor relates to the general character of the company. Some large, established charities might already have a professional accountant on staff. This could mean saving time and money by bypassing the cost of employing a new professional advisor. Similarly, a professional agent working on a construction industry scheme for charities could also save time and money by bypassing the initial recruitment stage and selecting a candidate from a short list based solely on qualifications.

Professional Consultants Specialize

Another consideration is the area of specialism that a professional agent has. There are some professional consultants who specialize in different types of projects, while others may offer their services across a wide range of different sectors. If a construction industry charity needs to raise funds for specific projects, then a consultant who specializes in these sectors could be the best option. In addition, some individuals are more suited to a particular client than others. By working with a professional advisor from a broad range of skills and experience, a charity would be better able to raise sufficient capital.

Suitable Accountant or Professional Advisor

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Having a suitable accountant or professional advisor is of vital importance before a charity can begin raising money. An accountant will provide the necessary expert guidance to help a charity work out a practical fundraising strategy. This should include a detailed costing process, which should take into account a wide range of financial costs from collecting information such as donations and sponsorship to marketing material and events. The professional will also be able to advise the charity on how much of the total budget should be spent on the project itself, and what proportion should go towards reaching the target audience.

Accountant's Duties

The accountant's duties include preparing the tax affairs of the charity. They will ensure that all the tax obligations of the charity are in order, as well as ensuring that all the tax regulations are being adhered to. A professional accountant will also be able to assist with accounts and bookkeeping, as well as assisting with the management of cash flow. This will allow the charity to operate at a cash flow situation that is satisfactory to both the charity and the professional.

Types of Accountant’s

There are many different types of accountants that are contracted by the construction industry to work for fundraisers. These would include financial advisers, fundraising managers, finance officers, and accountants. The professional that a builder would usually contract out to handle the work is called a fundraiser manager. Fundraisers can vary greatly in nature, from collecting cash from a large donor, to a one off big event. A professional advisor will have specialist knowledge of the construction industry and could assist the builder with their plans for each activity.

Professional Advisors

There are professional advisors who have specialist knowledge in a particular area, such as engineering, building sciences or construction. An accountant that has experience in a given area would be considered an expert in their field. Many professional advisors work independently and would cater for their clients requests. However there are also some that work as fundraisers, for companies, charities and the general public. These individuals may be contracted to work on a freelance basis, or might work for a larger company as part of a larger team. As with all professionals it is important to ensure that the company you choose, have a good reputation for giving advice on a range of different situations.

Choosing a Profession Accountant or Professional Planner 

There are a number of different options available to people looking to take part in a construction industry scheme for charities. Choosing a professional accountant, or a professional planner can help to ease the burden on you, and it may be worth talking to your accountant to see if they can suggest a certain option to help. This advice is especially important if you currently have a financial deficit, as the longer you are unable to cover your costs, the worse off you will become. With a little planning and some research, it is possible to raise much-needed funds for your chosen charity.