BONDED WITH BECKHAM...
While often a charitable foundation will have a historic endowment fund and many foundations’ activities are limited to making grants to other charities, that is not necessarily the case and it is possible to set up and run a foundation without having a large initial sum generating investment income, and for foundations to have an active remit as charities “doing things” to create positive impact, as well as or instead of just funding others.
Many foundations have similar charitable objects, perhaps along the lines of advancing “such exclusively charitable purposes under the law of England and Wales as the trustees may think fit from time to time…” because this helps to “future-proof” them and gives charity boards maximum flexibility in deciding which causes they may wish to support in accordance with their grant making policy, which will likely be reviewed on a periodic basis.
But even with such wide purposes, some foundations remain very focused in their work. For example, Vodafone Foundation has been utilising technology for over a decade to tackle societal issues, with a key focus on mobile applications that support survivors of abuse and harassment.
Another example (albeit a charity registered in Scotland rather than England and Wales, and where its purposes are framed in specific terms) is The King’s Foundation, that has recently hit the headlines with the appointment of David Beckham as an ambassador to help promote its work, focusing on creating better communities where people, places and the planet can co-exist in harmony. Apparently, King Charles bonded with Beckham (over beekeeping).
It is not just money that those setting up a foundation can provide (although clearly that helps!). The expertise of employees volunteering their time and expertise and other in-kind support – IT and administrative capability can often be very important to a foundation.
Learn more by joining Shoosmiths and RSM for our deeper dive into charitable foundations in a short webinar on Monday 17 June 11am-12pm register your place: https://lnkd.in/ejRhcSxc
Nick Sladden Sharon Monteith Shoosmiths