The Union has failed to submit their finances to the charity regulator and next year's operations may be at risk as a result.
The Queen Margaret Union (QMU) has failed to supply information on its finances within nine months of its financial year end date to OSCR, the Scottish Charity Regulator, meaning that it has defaulted on its charity status and will be pursued by OSCR under the Charities and Trustee Investment (Scotland) Act 2005.
Defaulting on their charity status means the QMU has breached their obligations as charity trustees, and may have misconduct action taken against them, as there is no evidence on public record that they are carrying out activities and providing public benefit. The QMU are now risking losing their charity status.
According to the QMU's own strategic report, which was leaked to The Glasgow Guardian last July, the Union has been in financial decline for the last five years. If their charity status is revoked, they will potentially be unable to trade in the coming academic year.
Courtney Hughes, QMU President, commented; "We regret to highlight that we were unable to submit our accounts on time, however we have contacted the Office of the Scottish Charity Regulator (OSCR) and explained that the auditing process was delayed as a result of Covid-19. We have yet to hear back from OSCR but we are hopeful that they will show understanding in the circumstances. As the advice on their website highlights, they understand that some charities may have difficulties meeting deadlines and will not be penalised by this. As mentioned, we have contacted them and we are confident that our accounts will be finalised in the upcoming weeks."