How it Works

Step

Directions
1. First of all, consider the following questions:

- Which areas and what themes would you like to support?
- When would you like to give – now, in a few years or through a bequest in your will?
- What kinds of assets will you use to open your fund – cash or shares?

The answers to these questions will form the basis of your charitable wishes.
2. Talk to us about your charitable wants, and also involve family members and your financial adviser if you like. We will illustrate our current grantmaking, and offer ideas of how we will meet your charitable aims.
3. Once we have listened to and understood your wishes we will provide you with a draft Gift Agreement. This simple document sets out our responsibilities for managing your charitable fund.
4. Your fund is set up, via a transfer of funds or shares, and we ensure Gift Aid is added to the fund balance on your behalf. Your financial adviser will ensure you benefit from reduced tax liabilities, according to your circumstances.
5. If the fund is an Invested Fund, revenue is drawn down bi-annually for grantmaking. Otherwise, if the fund is an Immediate Impact Fund the revenue is available for grantmaking straight away.
6. Grant awards are made, in line with the charitable wishes of your Gift Agreement, and with your prior consent, if desired.
7. We report to you on your fund balance and grants made; this report is provided bi-annually for Invested Funds and quarterly for Immediate Impact Funds.
8. Meet with us again, to finalise the Gift Agreement and to arrange how the fund is to be set-up. We can meet with your financial adviser at this meeting, or separately if you prefer.
9. You and the Chair of the Scottish Community Foundation both sign the Gift Agreement.
10. We will meet with you annually to discuss the progress of your fund, the community impact of your grant awards and to confirm, or amend, your charitable wishes.





How it works