Working with Professional Advisors
In your capacity as a professional advisor, solicitor, accountant or wealth manager, partnering with HIWCF enables us to meet your clients’ charitable goals together, ensuring that their giving reaches the causes they are particularly keen to support efficiently, while achieving maximum impact.
As peoples understanding of social pressure and local need increases, there is a growing awareness from individuals and businesses to get involved and help those less fortunate in their communities. You will have come across many cases of families and friends wishing to set up a fund in memory of a loved one to help vulnerable and disadvantaged people, as a legacy to remember their life.
How We Can Help
HIWCF provides a range of personalised, flexible and stress-free solutions that will meet or exceed your clients’ needs and expectations:
- Leaving a legacy or gift in their will
- Setting up a personal named fund
- Setting up a memorial fund
- Transferring the burden of running a charitable trust
Benefits For Your Clients
Working with HIWCF allows your clients to structure their giving in a tax-efficient way, offering an enjoyable alternative to creating a new charitable trust, which can be complicated and costly to set up and manage.
The benefits for your clients of giving through the Foundation are:
- We are local – your clients’ funds will be used to support the local community in which they live or work. Clients can visit the projects they have supported, so they can see first-hand the positive impact that their charitable giving is achieving.
- We are impartial – you may be reluctant to recommend specific charities or voluntary groups to your clients. HIWCF does not favour any particular cause or theme.
- We are flexible – with a personal named fund (which operates in a similar way to a charitable trust), your clients can choose the issues they wish to support across any charitable cause or theme.
- Clients can change their focus at any time, to respond quickly to emerging social need, and can be involved as little or as much as they like in the grant-making process.
- We are quick and efficient and can set up a named fund after just one meeting rather than waiting several months or longer to register a charitable trust.
- We carry all financial and legal responsibility. Setting up a charitable trust can be time consuming and costly to establish and administer. The onus on trustees is increasing: to invest and monitor the investment of funds, to ensure regulations are followed in grant-making, to meet the stringent needs of accounting requirements under SORP as well as the independent scrutiny of accounts. With a named fund, all responsibilities lie with our HIWCF Board of Trustees.
- We make giving easy – we promote your clients’ fund and invite applications from community groups to fund their project, review grant applications, provide summaries of the projects, check validity and that the charity’s or group’s project falls within the fund’s core charitable objectives.
- We arrange for donations to be made from the fund and undertake monitoring at the end of supported projects, to ensure the money has been spent correctly and to measure the impact of the grant.
- We have excellent knowledge of local need in our communities and can match your clients’ interests to specific projects, areas, causes and initiatives.
- We encourage donors to be fully involved in deciding which community projects to support.
- We help your clients give tax-effectively – as a registered charity we are an ideal vehicle for all methods of giving, offering significant tax benefits including relief from income tax, capital gains tax, inheritance tax and corporation tax. We can accept gifts in cash, shares, land, property or other assets.
- We are here for the long term – if a client leaves a legacy in a will today, it is possible that the charity or cause they wished to support is no longer in existence by the time their will comes into effect. With a named fund, our trustees are responsible for the distribution of gifts left to them. We ensure that the original intentions of your client are carried out without having to approach the Charity Commission for a variance of the deeds of a trust or intentions in a will.
- We are transparent – we ask for a small contribution towards our core administration costs for managing a fund depending on the size and type of the fund, agreed up-front with our donors. We operate with very low overall administrative overheads, which means that more money goes in grants to the local community.
- Our service is personalised and flexible, enabling us to provide a tailored solution that meets or exceeds your clients’ needs and expectations; which we hope would help to strengthen your relationship with them further.
HIWCF Named Fund versus new Charitable Trust
A named fund is a ring-fenced charitable fund held by HIWCF on your client’s behalf, without the cost and administration involved in setting up a brand new charity or a completely new charitable trust.
Please take a look at our table giving a comparison of the steps involved in setting up a new independent charitable trust versus setting up a new named fund with HIWCF.
Set Up A Fund
Find out more about the types of HIWCF funds we have available to support donors with their charitable giving.