Setting up a Named Fund with SCF
Setting up your own charitable fund is a simple alternative to a private charitable trust, offering the flexibility of a private charitable trust, but without the administration – leaving you, the donor, able to focus on your giving strategy. It is a rewarding and exciting way of supporting your local community today or over the long term. A fund can be set up in your name, or in the name of a loved one, and you decide what issues or areas your fund will support. You may make a gift of money or an item of value such as shares, property or other investments to set up a fund.
Named Funds offer donors all the benefits of a charitable trust, without any of the time-consuming administration. We will:
- help you create a giving strategy based on your interests
- carry out due diligence and make grants on your behalf
- update you regularly on the difference you have made, including through your annual impact report
- arrange opportunities to visit or get involved with the causes you support or help you to remain completely anonymous in line with your wishes
- share opportunities to attend regular events to hear from local charities and meet other like-minded donors
Why give through Somerset Community Foundation?
We make local giving simple, rewarding and impactful. We provide expert philanthropy advice and professional administration of charitable giving that helps you make the most impact possible.
Together with our donors, we made grants to around 500 local charities, social enterprises and individuals last year (2022/23), and awarded more than £5 million in funding. Since we were founded in 2002, we have built unrivalled knowledge of the amazing charities and community groups in Somerset.
This means we’re well placed to help you find and support projects in the places you’re passionate about and to focus your giving on the causes that mean most to you.
We are a registered charity, which means you can benefit from tax relief when you donate through Somerset Community Foundation. If you pay tax at the higher rate, you can claim back the difference between the higher rates of tax (40% or 45%) and the basic rate (20%) on the total value of the donation. Funds can be set up quickly and held while you create a strategy for your giving, an ideal solution for those donating at the end of the tax year. We also benefit from Gift Aid, which increases the value of your donation by 25%.
Leave a legacy
Leaving a gift in your Will to Somerset Community Foundation is a wonderful way to make a lasting difference in your community. We know it can be difficult to choose which charities to support, which is why many donors choose to give through the Foundation to a wide range of local good causes.
Many of our donors have been passionate about supporting good causes in Somerset for many years, and want their support to continue after they pass away. For others, leaving a gift to charity in their Will may be the first opportunity they have had to make a significant contribution to a cause or a community they care deeply about.
Legacy Funds can be set up in your lifetime or through a gift in your will. If you would like to have a confidential call or visit to learn more about leaving a gift in your Will to Somerset Community Foundation, please contact Laura Blake, Philanthropy Director, on 01749 344949 or email Laura Blake.