Comparative Table

SETTING UP A CHARITABLE TRUST

ESTABLISHING A FUND THROUGH NORFOLK COMMUNITY FOUNDATION

SET-UP PROCEDURES AND COSTS

Must register as a charity and apply to the Charity Commission

Simple agreement; no start-up fees or costs

 
INVESTMENT, AUDIT ACCOUNTING AND
TAX

Must fulfill financial and administrative requirements or contract or hire staff

 

NCF handles all financial and administrative management, sorts out audit and reports to the Charity Commission

 

 
GRANT
MANAGEMENT

Must research and check activities and status of all recipient organisations; has ultimate say in all grant decisions

NCF verifies activities and status of all potential grantees; donors have access to grant making know how and services. Donors can be involved as much or as little as they choose in the grant making process; donors make recommendations to NCF's Board on grants to be made

 

 
PRIVACY

Required to keep public records

Anonymity of donor can be maintained if desired. If the donor wishes, NCF can serve as a mediator between donor and grant seekers

 

 
PROFILE

Responsible for own records

NCF can raise donor's profile in the community by making grants in the donor's name and featuring the donor in publications

 

 
NETWORKING

Must find own network and information sources

NCF networks like minded donors and connects donors to a variety of groups and issues in the community