Just a thought, why don't we set up our own charitable foundation?

The costs are relatively small (mostly administration).

My family has one of these (The Prestwood Foundation), and it my be a way of raising charitable gifts of some magnitude.

Any thoughts?

Richard

 

Hi Richard

I understood the admin was prohibative

I would be interested in sorting this

 

Could call it the 'Phil Stephens Foundation', could aid funding of my car



Nate.

 

Phil

I am sure the costs are quite low once the Foundation is set up - Charity Commission will tell me, but I will check with my accountant on Monday 8th May.

It may be a way of raising money for good causes?

 

Phil

I work for a family firm of Financial Planners (established 1975), and our foundation was founded in 1985.

This is the blurb from our website to show the "types" of causes we have helped, but obviously, the Scooby Foundation (or whatever it is called) would be able to do what it wants with the money raised (subject to agreement from the Trustees).

There are some very good investment vehicles only available to charitable foundations.

We may be able to raise SIGNIFICANT funds for causes the Trustees feel strong empathy towards.

Objective:

To make you aware of the objectives of the Foundation and to request your support.

Introduction - a problem:
Some years ago Prestwood carried out some research into clients' attitudes to charitable donations and discovered that whilst most clients were not opposed to helping deserving causes they did not support charities to a greater extent for four specific reasons:-

nobody had asked them to, and/or
they felt that too much money is taken out of the major charities in the form of running expenses, and/or
they were disinclined to support the same charity for a number of consecutive years (at that time the only tax efficient way of supporting a charity was by means of a seven year Deed of Covenant), and/or
they did not feel 'involved' with any particular charity and were too divorced from the 'sharp end'.

The Prestwood Foundation - a solution:
The Prestwood Foundation offers an answer to the points outlined above in that:-

We are asking for your support - please!

Nothing is taken out of the Foundation's funds for expenses. All costs are paid by Prestwood Etheridge Holdings Limited.

Support can be given tax efficiently by means of Gift Aid (minimum donation £250), Deeds of Covenant (over at least 4 years) or by cheque or bequest for any amount.

You can suggest beneficiaries and be 'involved' if you wish.

The objective set out in the Foundation's Trust Deed includes anything which falls within the legal definition of charity but it has concentrated on two principal areas of activity - helping young people and supporting projects for the general good of the community.

Over the years support has been given to many good causes, including the following:- Army Benevolent Fund, Arrowhead Volunteer Fire Department (gift of an ambulance sled), British Heart Foundation, British Paraplegic Sports Society, British Schools Exploring Society, Brook Hospital for Animals, Cancer Research UK, Christian Aid, The Children's Society, CSV People for People, Grateful Society, Hospices in various parts of the country, Jubilee Appeal for Commonwealth Veterans, Kinver Roteract, Kinver War Memorial, Mencap, London Immunotherapy Cancer Trust, Midlands Air Ambulance, Museum of Worcester Porcelain, Operation Raleigh, PINNT (the charity for patients on intravenous therapy), Royal Commonwealth Society for the Blind, Royal Hospital for Neuro-disability, Russells Hall Hospital, Russells Hall Intensive Care Unit, Stroud Meningitis Trust, Teenage Cancer Trust, Wiltshire Blind Association, Worcester Royal Infirmary Intensive Care Unit.

RICHARD