SYCF Funding In Your Region
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Why be a Donor?
 Why
give to a Community Foundation?
To improve quality of life and meet the needs of local people…
The Community Foundation is a registered charity (no. 517714) that manages charitable giving programmes for businesses, individual donors, charitable trusts, charities and other community partners. It ensures grants reach particular pressing needs within the community that are being addressed by hundreds of hard-working local charities and community organisations.
It can bring your current giving programme under its wing or initiate one on your behalf. Services include: receipting funding requests, making site visits to applicants, distribution of acceptance or rejection letters, the provision of reports about grants awarded and public relations assistance. You have the freedom to define the criteria for grant eligibility according to your particular interests and hopes for the community.
You retain the ability to respond to community needs by forwarding any requests you receive directly to the Community Foundation. The Community Foundation can either (1) have its volunteer experts select the grant recipients on your behalf, (2) shortlist applicants for your selection according to your criteria, (3) honour your ongoing commitments to particular charities you name, or (4) any combination of the above.
Our professional service offers you:
Flexibility to custom make a grants programme to best meet your wishes
Understanding of local needs in communities across South Yorkshire
Knowledge of the region's voluntary and community groups
Quality ensured by personal visits by local assessors to community groups
Choice of flow-through grants or endowment
Integrity of accounting by tracking separately your fund's income and expenditure
Publicity in Community Foundation publications, press and promotions
Capable Investment managed by professional fund managers
Company
Giving
There are various benefits to a philanthropic partnership with the Community Foundation: a raised profile of charitable activity (4,000 Yearbooks distributed through the four local chambers of commerce, to donors and community leaders), scope for local employee involvement and press opportunities.
The knowledge that an employer gives charitably can motivate staff and contribute to employee recruitment, retention, motivation and productivity.
The presence of active local youth-related charities and community groups can help to reduce vandalism of companies' buildings and property as well as increase the job-readiness of young people.
From a procurement point of view, Community Foundations are an effective, efficient and economical partner, knowledgeable about local groups that can fit the donor's wish. All of the company's money stays in the local economy and the evidence of its spending can be seen locally.
Community Foundations are risk reducers for company donors. They assess local groups' applications and abilities, give support where needed and the groups to which Community Foundation grants are made have a very high success rate at carrying through their projects. Donor companies are associated with success.
Company Benevolent Funds
When a company stops trading or the company trust's trustees are no longer able to undertake their duties, the Community Foundation is a safe and permanent haven for such funds. The Foundation’s standards of governance, accounting and grant distribution are acknowledged by the Charity Commission that has endorsed the transfer of several trusts and funds under its umbrella of management. Economies of scale offer efficiencies and access to community knowledge adds value.
Individual donors
Whatever charitable cause or causes you wish to support, the Community Foundation can ensure that your funds find the right home and make a real difference. This is especially true if you want to reach a number of community groups or charities. Our services to you can range from following your precise instructions for donations to named organisations, short-listing applicants according to your criteria, or selecting grant recipients that are improving the community and addressing needs dear to your heart. The choice is yours.
Similarly the recognition for your philanthropy can be as extensive as you wish or treated with anonymity. We will work with you to custom make your giving programme according to your wishes.
Charitable Trusts
The Community Foundation has benefited from various grants from local and national charitable trusts that wish to meet the pressing needs of people in South Yorkshire, one of the UK’s major population centres. An investment in the Community Foundation is an investment in the vitality of myriad local organisations bringing noteworthy benefits to the needs of local people.
In addition to providing grants, charitable trusts and charities have been brought under the umbrella of management of the Community Foundation thereby offering economies of scale, community knowledge, discrete accounting and professional governance services.
Tax Efficient Giving
Gift Aid
Gift Aid allows the Community Foundation, as a charity, to claim back the donor's standard rate tax-payers (22%) to add to the value of the donation. Higher rate tax-payers (40%) can also claim the difference between the standard and higher rate (18%) in their annual tax return.
This means that for every £100 donation the Community Foundation claims back £28.21 from the Inland Revenue meaning £128.21 goes to support community groups in South Yorkshire
Simply fill in the Community Foundation's gift aid declaration form [link]
Gift Aid by companies
New Gift Aid measures came into force for companies on 1 April 2000. Companies will no longer:
- Deduct tax from their Gift Aid donations (including previously covenanted
payments, which will fall within the Gift Aid scheme in
future)
- Have to give the charity a Gift Aid declaration
They will simply pay the charity the full donation and claim full tax relief when calculating their profits for corporation tax.
Gifts of listed shares and securities
Individuals and companies have been able to get tax relief for gifts to charity of listed shares and securities when calculating their income or profits for tax purposes. This new tax relief is in addition to the existing relief on capital gains tax for gifts to charity of shares, securities and other assets. The new tax relief applies to disposals by individuals on or after 6 April 2000, or by companies on or after 1 April 2000.
The tax relief will apply where:
- An individual or a company disposes of the whole of the beneficial interest in any shares or securities listed on a recognised stock exchange in the UK or elsewhere
- To a charity
- Either by way of gift
- Or by way of a sale at undervalue
Donors will be able to claim a deduction in calculating their income or, in the case of a company, their profits for the tax year in which the disposal take place. The amount they can deduct will be:
- The market value of the shares or securities on the date of disposal
- Plus any incidental costs of disposing of the shares (broker's fees, etc)
- Less any consideration given in return for disposing of the shares and the value of any other benefits received by the donor, or a person connected with the donor, in consequence of disposing of the shares.
www.inlandrevenue.gov.uk
Charitable Will
It is becoming increasingly popular to include a charitable component in a Will. Your adviser can help you to meet a community need close to your heart. Gifts by Will have a significant benefit to charity and are greatly appreciated. Allocating part of the client’s assets to charity can help to minimise inheritance tax.
Types of Charitable Bequests and Sample Language;
- Pecuniary - a specific sum (view
sample)
- Residuary - remainder of your estate after liabilities
and commitments are met (view
sample)
- Specific - a particular item, such as property
or valuables (view
sample)
- Reversionary - providing for a partner or friend
during their lifetime with assets passing to charity upon
their death.
Designation;
- Unrestricted Fund - flexible to meet changing community needs.
- Purpose Fund - helps a particular community need or beneficiary group.
Permanent Legacy or Short-term Impact;
- Endowment Fund - the principle is vested and grows with time. Only the interest earned is spent for the purpose you decide. Should your commitment be £25,000 or more, the Foundation can create a named fund in your honour.
- Expendable or Through Fund - the funds you contribute are awarded as grants.
What to do next;
First, reflect upon your wishes. Second, notify the Community Foundation of the charitable plans by phoning or completing a pledge form. Third, meet a solicitor to draft your Will. If you already have a Will, it is easy to make a codicil that names the charity of their choice and the amount of your gift.
The Foundation is happy to offer recognition or anonymity, whichever your client prefers.
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