From Longman Business Dictionary
quangoquan·go /ˈkwæŋgəʊ-goʊ/ noun (plural quangos or quangoes) [countableC]ORGANIZATIONS an independent organization in Britain, formed by the government but with its own legal powers. Quangos are responsible for controlling and supporting particular activities, for example by deciding who should receive money given by the government. The new name for quangos is NDPBsUnelected quangos have replaced elected boards in much of the administration of government.
quangos such as the Arts Council