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A charity-friendly credit scoring process is being developed by Guidestar and Experian.
Credit agencies will be able to use the system when carrying out due diligence on voluntary and private sector organisations that are bidding for government contracts, Charity Finance reports.
Les Hems, director of Guidestar's third sector data and analysis division, told the publication that the existing process used to assess applicants is unfair to charities, which end up with high-risk scores, because they are designed for business accounts.
"We are trying to come up with an appropriate way of treating charities and private sector organisations equally, because currently their standard processes are designed for companies only and are systematically excluding charities," he said.
Factors such as growth in profits before interest and tax are not relevant to charities, but things such as reserves are, he added.
Guidestar was set up in 2003 to provide detailed information on every charity and voluntary organisation in England and Wales.
Its aim is to promote greater understanding of the work of charities and how they are managed.
To find out more about our charity legal services, or to discuss a legal matter concerning your charity or not-for-profit organisation, please contact our charity law team on 01753 279059 or email charitylaw@bpcollins.co.uk.
