The financial data that forms the basis of Benefacts’ analysis is derived from the public disclosures of Irish nonprofits.
The law requires different kinds of nonprofits to file a set of financial statements with their respective regulators and registrars. These include:
All of these public regulatory authorities, except the Charities Regulator, publish the financial statements they receive on their public websites which is where Benefacts sources them under the provisions of open data regulations.
Benefacts does not re-use the data which nonprofits publish on their own websites.
Once they have been published, Benefacts reviews and manually extracts financial, governance and narrative data from financial statements, stores this in its database and deploys it in various ways.
The most recent source documents are republished on benefacts.ie and a summary regulatory, governance and financial analysis is provided in Benefacts’ listing for each nonprofit.
Last updated 21 May 2020.
At the end of July the Department of Public Expenditure and Reform (DPER) wrote to say that they would provide no further funding for Benefacts after our current funding agreement expires on 31st December.
According to Minister Michael McGrath’s officials, the project “has met its initial policy rationale of assisting the development of a market for data on the nonprofit sector by stimulating demand from public bodies for such data”.
Despite our strenuous representations, DPER officials reconfirmed earlier this week that “this Department will not be providing further grants to Benefacts in 2021 following the expiration of the current Funding Agreement”. Accordingly the Board had no choice but to commence arrangements for winding up the company and terminating contracts including those with our 20 staff (15 full-time equivalents).