Skiers Trust Bespoke Funds
The trust has for some time now made special arrangements for families to create their own bespoke fund. This arrangement means that parents can find donors who wish to sponsor their children in pursuit of excellence within the sport, thereby taking advantage of the trust's charitable status. The trust now has over 300 bespoke funds and expects all competitors to have a fund in the near future. To benefit from gift aid all donations must be made out of donors taxed income so that the trust as a charity can claim 25% tax refund from the revenue. Companies donating to a bespoke fund usually do so from their charity budget and therefore account for donations before tax. This means that companies find it easier to donate to charities rather than sponsoring individuals. Those wishing to know more about gift aid should visit http://www.hmrc.gov.uk/individuals/giving/gift-aid.htm and http://www.tax-effective-giving.org.uk/
There are three criteria which need to be fulfilled in order for beneficiaries
to be eligible:
- beneficiaries must fall within the objectives of the trust which will in the future include amateur sport
- to enable the Skiers Trust to reclaim tax paid on the donation from the Inland Revenue all donors need to sign a Gift Aid form confirming that the donation is made out of their taxed income.
- each bespoke fund contributes a 7% levy to the Skiers Trust general fund to assist in making further grants to less fortunate individuals. This levy is applied to all donations received and to all tax recovered.
The bespoke fund must be opened by the parents or guardian of the beneficiary who signs the bespoke fund declaration and a membership application form which must be sent to the registered offices of the trust. Membership application forms are available from the trust on request.
Click on the 'DOWNLOAD NOW' button below to download the bespoke fund application form, then print out and complete the form and post it to us. We look forward to welcoming you.