Transfer an Existing Fund
The Community Foundation welcomes opportunities to work closely with other charitable trusts. We are keen to support Trustees and administrators in fulfilling their role.
Occasionally, trusts decide that it is the right time to close because:
- The original charitable objectives have been fulfilled
- Administration has become too time consuming
- Trustees wish to retire
When this happens, we can assume management of long established charitable trusts that benefit East or North East London or part of it.
Management Service
We can also manage existing charitable Trusts by recreating them as Funds within the Community Foundation. We would do so by:
- Setting up a Named Fund, usually with the same name as the former Charitable Trust
- Amending or retaining the charitable objects of the Trust for grant making
- Involving one or more former Trustees as advisers to the new Fund
The public face of the Trust carries on as before but without the additional work caused by separate investment, administration and reporting.
The machinery of transfer
The appointment of the Foundation as a charity trustee is generally a comparatively simple exercise, albeit that it may require Charity Commission consent. The Charity Commission recognises accredited community foundations, such as East London Community Foundation, as suitable alternative trustees of existing trust funds and are helpful in identifying the process required for the transfer. www.charitycommission.gov.uk
For more information, please contact Jessica Wanamaker, on 0300 303 1203.
We help communities in London, particularly those in North East London, in Barking & Dagenham, Hackney, Havering, Newham, Redbridge, Tower Hamlets and Waltham Forest.
