There may be certain circumstances when there will be benefits in considering the transfer of trusteeship of an existing trust fund to the management of Norfolk Community Foundation.

This does not necessarily mean giving up all involvement, as Norfolk Community Foundation works closely with its donors to ensure that their wishes are met, now and in the future.

Small trust fund
If the income from an existing fund is relatively low, it may not warrant the expense of administration. By pooling resources, both in fund management and grant administration, the Foundation is able to maximise the impact of whatever capital is available.

Trustee responsibility
It is generally agreed that the responsibilities assigned to trusteeship are becoming more onerous. Perhaps current trustees no longer want that responsibility, or do not have other trustees to take on the role. It may be that the involvement of the family of the original benefactor is no longer available, or that a professional adviser has little time to devote to being a trustee of a trust fund. In all cases, the Trustees of Norfolk Community Foundation could take on that role.

The remit remains the same
In considering the transfer of such fund, it is important to note that Norfolk Community Foundation will honour the wishes of the original benefactors, in perpetuity. Norfolk Community Foundation is here to stay and successive Trustees will work to the remit that is agreed at the time of the transfer. Clients can be confident that their wishes will be adhered to, for generations to come.

The Charity Commission
The Charity Commission does recognise that community foundations provide suitable alternative stewardship of existing trust funds and are helpful in identifying the process required for the transfer.

As each case will be individual, we would be pleased to discuss the transfer of trust funds.

For further information please contact Kate Kingdon, Tel: 01603 882138