Funding Acceptance Policy

Purpose

This policy sets out the criteria and process for accepting funding from any source, ensuring that all funding aligns with Towerblock Radio CIC's mission, values and independence.

Scope

This policy applies to all funding offers, including grants, donations, sponsorship, partnership funding and in-kind support.

Definitions

• Funding means any financial or in-kind support offered to Towerblock Radio CIC.
• Restricted funding means funding that must be used for a specific purpose.
• Unrestricted funding means funding that can be used for general purposes.
• In-kind support means non-cash support such as equipment, venue, services or expertise.

Responsibilities

The board reviews and approves all funding offers. The Finance Lead reviews financial terms. The project lead reviews delivery capacity.

Policy Statement

Towerblock Radio CIC accepts funding that supports its mission, aligns with its values, and does not compromise its independence, integrity or reputation. All funding decisions are made transparently and in the best interests of the community.

Detailed Procedures

Criteria for acceptance

Funding may be accepted where:

• It aligns with the mission and strategic objectives of Towerblock Radio CIC.
• The funder's values and practices do not conflict with Towerblock Radio CIC's values.
• The funding does not impose conditions that compromise editorial independence.
• The organisation has the capacity to meet any delivery or reporting requirements.
• The financial terms are viable and do not create unacceptable risk.
• Acceptance would not create a conflict of interest.
• The funding does not create unacceptable dependency on a single source.

Due diligence

Before accepting funding, Towerblock Radio CIC will conduct due diligence on the funder, considering:

• The funder's reputation and public image.
• The source of the funder's money.
• Any conditions attached to the funding.
• Any potential conflicts of interest.
• Any risks to Towerblock Radio CIC's reputation or independence.

Review process

1. The Finance Lead reviews the financial terms and conditions.
2. The project lead reviews delivery capacity.
3. The board reviews the recommendation and makes a decision.
4. The decision is recorded in the board minutes.

Conditions that may lead to rejection

Funding may be declined where:

• The funder requires content control or editorial influence.
• The funder's activities conflict with Towerblock Radio CIC's values.
• The source of funds is illegal, unethical or unclear.
• The funding creates a conflict of interest.
• The organisation cannot meet delivery or reporting requirements.
• Acceptance would damage the organisation's reputation.

Reporting

All funding acceptance decisions are recorded in the board minutes and reported in the annual report. Major funders are acknowledged publicly unless anonymity is requested and agreed.

Reporting Process

The board reviews funding acceptance decisions at each meeting.

Compliance Requirements

• Community Interest Company Regulations 2005.
• Companies Act 2006.
• Bribery Act 2010.
• Charity Governance Code (best practice).

Monitoring

The board reviews funding relationships and compliance annually.

Review Cycle

This policy shall be reviewed annually.

Version Number

Version 1.0

Approval Section

Approved by: Towerblock Radio CIC Board Date: July 2026 Next review: July 2027

Related Policies

• Grant Acceptance Policy
• Donor Acceptance Policy
• Sponsorship and Partnership Policy
• Fundraising Ethics Policy
• Conflict of Interest Policy

Website URL slug

/policies/funding-acceptance-policy

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Funding Acceptance Policy | Towerblock Radio

Meta Description

Towerblock Radio CIC's funding acceptance policy defining criteria, due diligence, review process and conditions for accepting or declining funding from any source.

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Funding

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funding acceptance, due diligence, funder criteria, editorial independence, CIC governance, funding policy