WRAP expects charity application process to be complete by March 2015
WRAP is expecting to achieve charitable status by the end of March, according to its chief executive Liz Goodwin.
WRAP is expected to formally apply for charitable status soon in a bid to diversify its funding base and secure its long-term future.
She told edie.net that charitable status would allow WRAP to access a wider funding pool outside the dwindling Government grants and give the organisation greater freedom in its remit.
In a statement in WRAP's 'Annual Report 2013/2014 published today, Goodwin said that she expects the application process for WRAP to achieve charitable status to be complete by the end of March 2015.
Chairman Peter Stone echoed Goodwin's views and said that charitable status will be an enabler to accessing a wider range of funding, including charitable and trust funds, as well as opening up "new ways to engage with our partners".
He added: "WRAP's objects have always been essentially charitable in nature and its work in the public interest but our case will be stronger when we compete for these funds if WRAP has charitable status.
"WRAP has been at the heart of outstanding and often leading edge work in the UK to prevent waste and make possible the more efficient use of resources and I believe this step is fundamental to enabling WRAP to continue to play this role effectively.
"Our plans have had widespread support and the next step is to put the proposal to WRAP's members at an EGM (extraordinary general meeting)."
Last summer, WRAP saw its central funding slashed by more than one-third as part of Defra's response to the Government's Spending Review. As a result grant funding from Defra for this financial year (2014/15) has been confirmed at £17.6m (2013/14: £25.7m) for WRAP. This is expected to reduce to £15.5m in the next financial year (2015/16).
Goodwin explained that achieving charitable status was an "important step".
She added: "Our approach will continue to be one of partnership working, recognising the contributions of the people we work with and seeking to maximise the effectiveness and value for money of what we do. Our partnerships are something we value immensely: WRAP has never claimed o change things by itself.
"We have always said it is the organisations and other people we work with who do most to bring about the change, and we are proud to play a catalytic role within that engine of change."