Starting a charity legacy fund
Discussion
I don't think this is breaching rule 22 because I'm not fundraising and I'm not going to mention any charity names.
Earlier this year I was appointed as a Trustee for a registered charity. I've focused on the financial position and what I can do to get us on an even keel. Without giving away too much we are globally recognised in a very small niche and we have the outreach to be able to talk to our followers about helping to set up a legacy fund to finance our modest operations, which are focused on providing tuition and opportunities for under 18s in a specific sector.
We have an annual funding shortfall of about £40,000 a year and historically the Trustees have worked on a hand-to-mouth basis by asking other charities to fund us. I'd like to make our position sustainable over the longer term. We've been in existence for nearly 120 years so we have a rich heritage to pull on; we have social media following of c. 7,000 people so I think we have a listening audience.
We would like to build a legacy fund (i.e., one built through donations and will legacies) that will provide us with a return that funds our activities. So minimum £500,000 as a capital fund. We are working on the offer for those people who might be able to provide for us in their wills and therefore create a lasting memory of the legacy they might leave us.
Many (most?) major charities work on this basis, asking supporters to consider leaving a small amount of capital in their estates for their favourite causes. We'd like to take inspiration from that and do something similar. I'm trying to work through the component parts of setting up this kind of fund and on the steps we would need to take to meet our goals.
Has anyone on PH done anything similar and could you offer us any advice please? I'd love to hear from you on how you did this and whether you contracted with a charity fundraiser to make it happen.
Many thanks.
Earlier this year I was appointed as a Trustee for a registered charity. I've focused on the financial position and what I can do to get us on an even keel. Without giving away too much we are globally recognised in a very small niche and we have the outreach to be able to talk to our followers about helping to set up a legacy fund to finance our modest operations, which are focused on providing tuition and opportunities for under 18s in a specific sector.
We have an annual funding shortfall of about £40,000 a year and historically the Trustees have worked on a hand-to-mouth basis by asking other charities to fund us. I'd like to make our position sustainable over the longer term. We've been in existence for nearly 120 years so we have a rich heritage to pull on; we have social media following of c. 7,000 people so I think we have a listening audience.
We would like to build a legacy fund (i.e., one built through donations and will legacies) that will provide us with a return that funds our activities. So minimum £500,000 as a capital fund. We are working on the offer for those people who might be able to provide for us in their wills and therefore create a lasting memory of the legacy they might leave us.
Many (most?) major charities work on this basis, asking supporters to consider leaving a small amount of capital in their estates for their favourite causes. We'd like to take inspiration from that and do something similar. I'm trying to work through the component parts of setting up this kind of fund and on the steps we would need to take to meet our goals.
Has anyone on PH done anything similar and could you offer us any advice please? I'd love to hear from you on how you did this and whether you contracted with a charity fundraiser to make it happen.
Many thanks.
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