Dorset Community Foundation along with other community foundations, the Charity Commission and the Government are engaging in a trust transfer initiative which aims to raise up to £20 million from inactive existing trusts.
The transfers will provide a huge boost to local charities by distributing funds from inactive trusts to good causes.
Dorset Community Foundation is a local expert in transferring inactive trusts from local authorities and dormant or inactive local charitable trusts having already transferred over £1.5 million of such trusts over the last 18 years turning them into valuable community assets.
Jon Yates, Chief Executive of the Foundation, explained: “I’m very pleased with the new initiative which aims to re-invigorate existing money to invest in community initiatives.
“There are many reasons why a trust may become dormant or inactive such as if the charitable objectives of the trust make it difficult to identify beneficiaries or work of administering the trust is becoming a concern for trustees.
“We can also work with the Charity Commission to change the original objectives of the trust if they are outdated or no longer relevant, which sometimes happens if the trust was set up long time ago.”
The recently transferred Graham Burrough Charitable Trust enabled the Foundation to set up a new mental health fund for Dorset, which was launched last month. The transfer will ensure the good work and original purpose of the trust continue in perpetuity whilst reaching those in need in a structured and impactful way.
Pam Burrough, former Chair of the transferred trust, said: “I am very happy indeed that such a viable future for the Trust has been established. I wish I had discovered just how the Foundation works at an earlier stage in our decision making. I feel very confident that Graham’s legacy will be administered wisely and will continue, in his name, to help and cheer many others suffering mental health problems.”
Minister for Civil Society Tracey Crouch said: “This initiative will make a real difference to people and communities across the country. By working with Community Foundations and the Charity Commission, we will honour the original aims of these now-inactive charitable trusts by redistributing funds to help those that need it most.”
The Charity Commission and the Office for Civil Society have chosen to work with Community Foundations based on their expertise and experience in supporting communities and ensuring that funds are distributed well to tackle local need.
Over the last 18 years, Dorset Community Foundation has generated over £10 million in support locally. The Foundations promotes local giving and philanthropy by working with local charitable trusts, local authorities, companies and individuals who would like to give locally.