IPRT relies on donations from charitable trusts, individual donations and membership subscriptions to cover its operational costs. IPRT is fortunate to have the financial and other support of two main philanthropic funders: The Atlantic Philanthropies and the Joseph Rowntree Charitable Trust.
We were not in receipt of any public funds until mid-2016, when we were granted Pobal funding under the Scheme to Support National Organisations in the Community and Voluntary Sector 2016-2019.
In recent years, we have also secured project grant funding from other sources including: the Irish Research Council for the Humanities and Social Sciences (joint project with the Dublin Institute of Technology); the St Stephen's Green Trust; the Ireland Funds; and the Community Foundation for Ireland.
Reporting and Accounts
IPRT believes in total transparency and accountability around how we use funding and donations to achieve our vision of progressive penal reform, with imprisonment as a last resort.
Audited accounts are prepared annually, and approved at the AGM each year. Financial statements for previous years are included in the Annual Reports, and below.
In 2015, we switched to FRS 102 SORP compliant accounts. The FRS 102 requirements relating to the trustees’ annual report, fund accounting, the format of the statement of financial activities and additional disclosures are aimed at providing a high level of accountability and transparency to donors, funders, financial supporters and other stakeholders.
IPRT is committed to ensuring that the organisation’s finances are managed to the highest standard, and in line with established accounting practices.
- Our registered auditors are Anne Brady McQuillans DFK. DFK are authorised by the Institute of Chartered Accountants in Ireland and with the Irish Taxation Institute and PCAOB (Public Company Accounting Oversight Board).
- We have in place a full written finance policy with protocols (available on request) in relation to the respective roles of Finance Committee, Executive Director, and Treasurer; the handling and management of petty cash, donations and membership, and grants; and retention of financial documentation.
- In line with the IPRT expenses policy, all expenditure must be vouched for and approved by the Executive Director, or in the case of the Executive Director's expenses should be approved by the Chairperson.
- An independent audit is conducted each year by the auditors who bring to the attention of the board through the finance committee any matters of concern. The auditors are also invited each year to the AGM of the IPRT. Accounting records are retained for a period of 7 years.
If you have any questions on how our organisation is run, you can email firstname.lastname@example.org and we will respond within three working days.