Charitable Trust Transfer Service
Charitable Trusts are an invaluable source of funding for our communities. But running a Charitable Trust and carrying out administrative and regulatory responsibilities, alongside trying to spend funds wisely, is often a struggle for Trustees.
We have a wealth of experience of supporting Charitable Trusts where the charity is concerned about:
- Identifying beneficiaries or spending funds
- Trustee succession – not being able to recruit new Trustees when current Trustees step down or retire
- Being able to meet their administrative or regulatory requirements, such as reporting to the Charity Commission or reviewing applications
Our Trust Transfer Service offers a simple and convenient way for Trustees to make sure the charity can continue to carry out its objects for generations to come, with the administration of funds being passed over to our highly experience and skilled team.
Working in partnership with the Charity Commission
The Charity Commission’s Revitalising Trusts programme helps Charitable Trusts that are struggling to spend their income and aims to reinvigorate dormant or underutilised Charitable Trusts for the benefit of the local community. The initiative has unlocked £32m of dormant charitable funds since 2018 and helped 1,800 charities bring funds back into use for communities.
The UK Community Foundation (UKCF) network (of which HIWCF is an active member) has been appointed by the Charity Commission as a partner in this programme, thanks to our due diligence process and ability to distribute money quickly, simply and effectively to all corners of the UK.
Depending on your situation, Trustees could retain control over where your funds are spent, have a named fund or decide not to be involved at all. Flexibility and an unstinting focus on community needs is key.
Process
To transfer a Trust to Hampshire and Isle of Wight Community Foundation, our umbrella organisation, UKCF, can support with the following:
- Writing a declaration and simple updating of charitable objects/geographical area
- Substantial work, such as negotiations with Trustees and speaking to banks
- Significant work unlocking bank accounts, support with selling properties/other assets, and helping with land issues. Once the Trust has been transferred, the Foundation will work with the Trustees to set up an endowment fund, invested with one of our chosen Investment Management Firms. The terms of that fund, the fees for its management and how involved the Trustees would like to be can then be agreed.
Once the Trust has been transferred, the Foundation will work with the Trustees to set up an endowment fund, invested with one of our chosen Investment Management Firms. The terms of that fund, the fees for its management and how involved the Trustees would like to be can then be agreed.
Revitalising local giving
Speak to us
If you have any questions, please contact:
Lucy Walford, Philanthropy Manager
Call: 01962 798691
Email: lucy.walford@hiwcf.com
