Philanthropy

Making giving simple

Back in 2011, we were the first UK private bank to create a donor advised fund (DAF) as an alternative to standalone charitable foundations or trusts. As a bank with a long and distinguished tradition of philanthropy, we understand how easy it is for philanthropists to become overwhelmed by administration and we are pleased to offer a flexible, efficient vehicle for your company’s charitable giving.

Convenience and control

Available for corporate giving, the Master Charitable Trust (MCT) is our award-winning DAF. Your company can establish its own named sub-fund, known as a ‘Giving Fund’, with a minimum balance of £250,000. Contributions can be made by the business owners, the directors and all employees. This provides a straightforward, effective tool to fulfil your Corporate Social Responsibility (CSR) strategy and can be an effective way to increase employee engagement.

Bringing all the Giving Funds together under the Master Charitable Trust umbrella creates a streamlined, flexible and cost-effective structure. Fees are transparent and competitive.

Each Giving Fund can support a very wide range of charitable objectives: you can give to UK-registered charities, internationally, and to organisations that are not registered but which undertake charitable work.

Furthermore, we can accept an unusually wide range of assets into your fund. These include: cash; UK and foreign shares; shares or units in pooled UK funds; a qualifying interest in land; and even property and art. You can also add to your fund at any time.

Lifting the administrative burden

Our own corporate trustee, Messrs. Hoare Trustees (MHT), undertakes every aspect of administration, including all dealings with the Charity Commission. You will be assigned a trust manager who will provide you with quarterly portfolio valuations and bank statements.

In terms of governance, your Letter of Wishes will:

• nominate a chairperson and committee members;
• specify objectives;
• define the requirement for a quorum of members; and
• identify individual(s) from whom Messrs. Hoare Trustees can take instructions.

Grant recommendations can be given to Messrs. Hoare Trustees by phone, email or letter, or at meetings. Gifts can be made directly to charities, using donation vouchers, or you can set up standing orders via Messrs. Hoare Trustees, who will ensure all donations meet the ‘charitable purposes’ criteria.

Additional flexibility

The Master Charitable Trust offers a range of additional options, and each can be tailored to fit your business’s philanthropic strategy. For example:

• You can set up one or more Giving Funds as required to maximise employee engagement.
• You can increase the value of contributions by taking advantage of Gift Aid benefits, which will be processed by Messrs. Hoare Trustees.
• You have wide scope to determine how the fund should be managed, with a range of options from simple cash deposits to professional investment management.
• You can elect a successor as chairperson, so that you effectively create a legacy in your business.