Before I get into today’s article, I would like to congratulate all our churches on getting their ACNC Annual Information Statements in. The ACNC has just released a report on double defaulters who are at risk of losing their charity status, and there were no SA Baptist churches listed. Yay.
Now, on to the real thing…
Charities have different reporting obligations to the ACNC depending on their size, which is based on a charity’s total revenue during its current reporting period – most often a financial or calendar year.
Some charities have seen a change in their total revenue – perhaps due to extra funding or donations received in response to last summer’s bushfires or through COVID based government payments – which will push them into a different size bracket. If this is true for your charity, it may face increased reporting obligations to the ACNC, including the need to submit a more detailed financial report.
However if your charity has reasonable grounds to believe its revenue will reduce (for example, because the church received the JobKeeper grants) and see it return to its original lower size in future reporting periods, it can apply to the ACNC to keep its original charity size. If your charity’s application is approved, it will be allowed to report as if it was still the size it was in the previous reporting period.
The ACNC has more information on keeping your charity size on its website.