Philanthropy

Making giving simple

Back in 2011, C. Hoare & Co. was the first private bank in the UK to create a donor advised fund (DAF) as an alternative to standalone charitable foundations or trusts. As a bank with a long tradition of innovative philanthropy, we understand how philanthropists may feel overwhelmed by administration and we are pleased to offer a flexible, efficient way to simplify giving.

Flexibility, simplicity and control

The Master Charitable Trust is an award-winning DAF in which all donors have their own named sub-fund, known as a ‘Giving Fund’ (minimum balance, £250,000). Bringing all these sub-funds together under the Master Charitable Trust umbrella creates a tax-efficient and cost-effective structure. Fees are transparent and competitive.

Giving Funds can support a 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 name your Giving Fund (or remain anonymous), involve family members or others, and plan for succession. 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, as well as annual accounts and reports.

Grant recommendations can be made 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.

Even more flexible, even greater benefits

The Master Charitable Trust offers a range of additional options, tailored to your philanthropic strategy. For example:

• You can set up one or more Family Giving Funds, facilitating intergenerational involvement.
• 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 decide how your fund should be managed, with a range of options from simple cash deposits to professional investment management.
• If you are a remittance-based taxpayer, you may be able to donate to Messrs. Hoare Trustees’ offshore bank account (full details on request).
• You can elect a successor, so that you effectively create a legacy.