Welcome to our regular update for professional advisors
In 2016/17, the total value of charity investment assets was £108.4 billion. Given that prudent financial management is a key responsibility for charity trustees, deciding where and how to invest these funds is crucial.
In this recent article, Kevin Gardiner, global investment strategist at Rothschild & Co Wealth Management, argues that even once the immediate crisis has passed, trustees will still face an important choice between growth-related assets and safe havens, such as government bonds and cash.
The Charity Commission is renewing its efforts to invigorate inactive and ineffective trusts through the Revitalising Trusts programme. The scheme, managed by the Charity Commission and UK communities foundations, with funding from DCMS, helps charities either to get back up and running or distribute their dormant funds to other good causes. If trustees fail to respond, the Charity Commission will redeploy the funds including transfer to a local community foundation. Since 2018, charities have received £32 million through this programme.
Want more help? Trustees and their advisors can contact the Charity Commission or speak to us on 01273 409440. You can also read examples of trusts that have transferred their assets to Sussex Community Foundation here.
In March 2020, we set up the Sussex Crisis Fund to help respond to the needs arising due to the coronavirus crisis. Between March and December last year, we allocated just under £2.7 million in emergency grants. Read more about the impact of the Sussex Crisis Fund in 2020 and the amazing groups supported, including the Brighton Cooking Club, pictured above, in The Argus here.
Almost one in three people plan to be more involved in local community in 2021. One of the positive things to have come out of the pandemic has been the way communities have come together to support one another. A report, published recently by the National Lotteries Community Fund found 69% of adults surveyed feel they are part of their local community, while over a third said that Covid-19 had made them feel even more so. You can read more here.
Crawley celebrates resilience of residents It has been well publicised that Crawley – home to many professional firms – has been particularly badly affected by the pandemic – so some good news to end on. The Creative Crawley Right Here festival takes place (29-30 January), remembering, celebrating and exploring the resilience of residents during lockdown 2020. Through a series of public cultural acts in the town, the experiences of people who live and work in Crawley will be drawn together, shared and commemorated. The festival received a grant of £5,000 from our Crawley Cultural Fund. Watch the festival trailer and get more information here.