Philanthropy

Making giving simple

As a bank with a long tradition of innovative philanthropy, we understand how philanthropists may feel overwhelmed by administration. Established in 2011, the Master Charitable Trust offers your company a flexible, efficient alternative to running its own foundation or charity.

Convenience and control

The Master Charitable Trust is a Donor Advised Fund (DAF) in which your company can establish its own named sub-fund, known as a ‘Giving Fund. 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. You can also add to your fund at any time.

Lifting the administrative burden

Our own corporate trustee, Hoares Trustees Limited, 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 Hoares Trustees Limited can take instructions.

Grant recommendations can be given to Hoares Trustees Limited 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 Hoares Trustees Limited, which will ensure all donations meet the ‘charitable purposes’ and 'public benefit' 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 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.