Did you know that Devon Community Foundation can provide a home for trusts which are finding it hard to spend their income? In this blog post our Head of Development and Philanthropy, Laura Cameron Long, explains more about dormant trust transfers, and how we can take on the administrative burden for charities while working with trustees to ensure the original objectives are honoured.
If you’re a trustee of a trust, you will understand how much work is involved in grantmaking. It’s an honour to support local organisations, but it’s also a big responsibility. Whilst many trustees are active and busy distributing funds, there are other trustees that might be considering the future of the trust. If you find yourself in this situation – maybe you are wishing to step down but are struggling to find new trustees, or the administration has simply become too much – then we would be happy to talk to you about options for your trust.
As a community foundation that’s accredited by UK Community Foundations, we are part of a network that benefits from the Revitalising Trusts Programme. This means that we work in partnership with the Charity Commission and a trust transfer expert to transfer trusts legally and swiftly to a new, safe home within Devon Community Foundation.
We can usually retain the original name in some form, and will work with you to ensure the fund objectives are retained but are reflective of current need. Previous trustees may stay involved in making decisions on grants, and receive annual reports, if they wish – or leave all responsibility to Devon Community Foundation. We manage all aspects of grantmaking including identifying organisations for funding, due diligence, distributing grants, and monitoring.
In 2021, we spoke with the trustees of The Beckly Trust who were considering how to progress with their trust. We worked closely with them to understand the objects of the trust, and to transfer the trust to us. We are now delighted to manage The Beckly Fund, and work closely with the family to ensure the fund continues to meet their interests.
If you would like to know more about the support we offer, or discuss any issues you might be having with your trust, contact Mary at mhancock@devoncf.com who will be happy to arrange a chat.
