Charity Trust TRANSFERS
The Charity Commission acknowledges that Community Foundations have a reputation for the effective management of charitable funds in order to maximise their impact at local level.
The Charity Commission and Community Foundations have worked closely in recent years to ensure that trustees seeking to revitalise dormant or ineffective trust funds (and who are looking for an effective way of carrying on their good work in future years) can release their funds to a Community Foundation as part of their appraisal of options.
Should I transfer a trust?
The Charity Commission welcomes and supports this initiative and encourages all charities to ask themselves whether they should work with Community Foundations as an alternative to continuing, particularly if they can answer yes to one or more of the following questions:
- We find it difficult to identify beneficiaries
- We cannot spend the income of the charity
- We find ourselves providing money to the same people or groups every year
- We find it difficult to attract trustees
- We would like to be involved in how the money is spent but we do not want the legal responsibility of being a trustee
- The work of administering the charity and its investment is becoming onerous or disproportionate to the level of funding
- We wish that we knew more about local issues and opportunities and who else was funding what
Why should I transfer a trust to a Community Foundation?
There are many reasons why Trustees may wish to consider transferring their assets to their local Community Foundation.
Find out more about why trust transfers are in safe hands with Community Foundations and what to do next if you are considering talking to your local Community Foundation by downloading an information sheet on Trust Transfers here.
“I was a little sceptical at first, as I didn’t want our family trust to lose its identity; I wanted it to continue in the way that we had set it up and to retain some involvement in where the money was spent. To my relief, when I discussed my concerns with the Foundation, I discovered that they were as keen as I was to ensure that the fund stayed true to its purpose and that I could remain as involved as I wanted.” – Donor who transferred a charitable fund in her father’s name to Essex Community Foundation.
If you are a Trustee and would like to know more about how your local Community Foundation can:
- Be of benefit to rejuvenate the assets of a moribund or ineffective trust fund
- Take over Trusteeship of your active trust fund with a view to continuing to deliver the current objects of the trust fund
Then please contact: Toni Shaw, Trust Transfer Associate to UK Community Foundations via email at firstname.lastname@example.org or telephone at 07471 689910.