The Charity Commission has opened a statutory inquiry into The Schwarzschild Foundation to investigate potential misconduct or mismanagement in the administration of the charity. The main concerns relate to whether charitable funds and other assets of the charity have been used for the purposes intended.
The Schwarzschild Foundation was registered in 2014 and provides education and the relief of poverty for women and girls in the orthodox Jewish faith.
The Commission's inquiry will examine the following regulatory issues:
- The trustees' compliance with their legal duties in respect of their administration, governance and management of the charity. This includes compliance with the charity's governing document, management of potential conflicts of interest and whether there has been any unauthorised trustee benefit.
- The financial controls and management of the charity including whether its funds have been properly expended solely for the exclusive charitable purposes and can be accounted for.
- Whether there has been misconduct and/ or mismanagement by those in control of the charity.
The inquiry opened on 23 June.
The regulator may extend the scope of this inquiry if additional regulatory issues emerge.
It is the Commission's policy to publish a report upon concluding an inquiry to detail its findings, conclusions, and any regulatory action taken.
