Set up a fund
Many people think about setting up a private charitable trust, perhaps to support a cause close to their heart, or to remember a loved one. However, private trusts can include weighty administration and the burden of legal fees.
At One Community we offer an alternative that gives you complete control of your giving; matching your charitable aims to suitable projects, and taking care of all the paperwork. The foundation is a cost effective and flexible solution, which allows donors to set up a fund that can sit alongside our permanent endowment funds.
You have three separate choices to make regarding the type of named fund you can create. These are:
- Unrestricted or field of interest
- Discretionary or advised
- Endowment or pass through
Unrestricted funds
These are ideal for donors wanting to help the most urgent and changing community needs. Leaves grant making decisions entirely to the foundation.
Field of Interest Funds
Enable grants to be made within specific agreed limits. These may be defined in one or a combination of the following ways: geographical area (e.g. a town or district), beneficiary group (e.g. children, people with disabilities, older people) and purpose (e.g. training, equipment and holidays).
Discretionary funds
These funds allow the foundation to make grants without prior reference to the donor, either generally or within the limits of a specified field of interest. The donor will receive details of all grants made by way of regular reports at agreed intervals.
Advised funds
Enable donors to become more involved in grant making decisions if they so wish. The extent of involvement can vary according to individual preference.
Endowment funds
Funds are invested for the long-term, under professional management, with the aim of long-term growth of capital and income. Grants are made from the income earned year by year. Such funds enable the Foundation not only to make grants today, but also increase its capacity to meet the community’s future needs.
Pass through funds
These funds are used to make grants in the short-term, usually within a year of receipt. Such funds increase the Foundation's capacity to meet current needs.
For further information, please call 01484 468397.
