Charity Commission Launches Inquiry into Housing Charity Over Concerns About Financial Mismanagement
The regulator has opened a statutory inquiry into My Space Housing Solutions (1149955) following an inspection of the charity’s books and records
The Charity Commission has launched an inquiry into My Space Housing Solutions to investigate potential conflicts of interest and possible mismanagement of funds.
My Space Housing Solutions provides supported accommodation to vulnerable individuals who have been unable to secure tenancies.
The charity had been the subject of a regulatory compliance case which opened in July 2022 and a books and records inspection was conducted in late August 2022.
The regulator has identified that from April 2015, £1,098,538 of the charity’s funds has been paid to 9 individuals who were serving as trustees at the time the payments were made.
These payments raise concerns about conflicts of interest and an inquiry has been launched to assess potential misconduct and mismanagement.
The inquiry will examine the administration, governance and management of the charity and in particular:
Conflicts of interest and connected party transactions
Whether the charity has suffered a financial loss as a result of any misconduct or mismanagement of funds.
Notes to Editors
The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its purpose is to ensure charity can thrive and inspire trust so that people can improve lives and strengthen society.
The Commission identifies and investigates apparent misconduct or mismanagement in the administration of charities and works to resolve issues of concern.
The Commission has not made any conclusions and the opening of the inquiry is not a finding of wrongdoing.
The Commission is aware of the BBC Panorama investigation into MySpace Housing. Regulatory concerns were already under investigation by the Commission when this was broadcast.