Working Together With Professional Advisors
Suffolk Community Foundation has benefitted enormously through its partnership with professional advisors. They are so often the link between their client’s ambitions to make a difference in their local community, and the reality of how this can be achieved.
Whether a client is looking to establish a named family fund through a lifetime donation, a legacy in their will, or wishes to reduce the administrative burden of an existing trust, we can work together to find the best solution, ultimately helping to achieve charitable goals in a tax efficient, professional way.
Many of the heart-warming stories you will discover across our site have been made possible due to the excellent independent advice that professional advisors have given. Below, you can read the thoughts and experiences of just a few of them.
If we can help in any way, please contact Henry Tapp, our Private Client Relationship Manager.
E. [email protected]
T. 01473 602602
Free Professional Advisors pack
Produced with professional advisors, this pack details the wide range of options available, including setting up a personal fund, charitable trust transfers, leaving a gift in a will, and dormant client funds.
We are really lucky to have Suffolk Community Foundation, they make a special effort to reach out to
charities of all shapes and sizes, and by so doing help to ensure greater equity and fairness in the worlds
of philanthropy and charitable giving in Suffolk. They have their ear to the ground but also a good technical
grasp of how to achieve our clients’ aims, which is an invaluable aid, especially when time is short.
Q: If my client is considering leaving a gift to Suffolk Community Foundation, what are their options?
There are a number of options to explore depending on their wishes, circumstances and type of gift. These can include:
- An Endowed Fund which provides an annual grant-making return, in-perpetuity
- A Flow-Through Fund which is an annual grant-making option
- A combination of Flow-Through & Endowment
- A Donation
Q. Will my client be able to see the impact their donations make and visit projects they fund?
Yes. Any organisation funded by Suffolk Community Foundation has to complete an impact report based on the original project application. If appropriate and the donor wishes to, we organise project visits wherever possible.
Q. What assets do you accept?
We can accept gifts in cash, shares, land, property and even things like artwork. Each donor is different and we work on a bespoke, case-by-case basis.
Q: Do you have some example codicil wording we can use where necessary?
Yes. Please contact Henry for further information and examples: [email protected].
Q: How much are set-up costs and what are your fees?
Setting up a fund with Suffolk Community Foundation costs nothing. In terms of fees for our services, there is an annual 1% charge per-endowment annually, based on its value on 30th June. We also apply a 10% fee on all grants made.
Q: Can my client remain anonymous?
Yes, and many of our donors choose to.
Q: How much is the minimum investment required for an endowment?
To ensure a sufficient annual return for grant-making, we recommend a minimum £25k investment. We are happy to explain how a gift is invested and what returns can be expected.
Q: What happens to a fund if my client passes away having created it during their lifetime?
In these circumstances, we highly recommend that our fundholders have plans in place to ensure the spirit and intention of the fund continues once they have passed, especially if it is an endowment. Family (especially second & third generation), friends and even professional advisors/executors have become custodians in this situation.
We’d be happy to have a confidential discussion with your client at a time and place that suits them, with you present if suitable. This is a great opportunity for them to ask any questions they have and for us to learn about their possible gifting intentions and passions. Please email or call Henry to arrange this: [email protected] / 01473 944732.
Community Foundations are vital contributors to building social capital. They also play a vital role by providing a platform that enables individuals and firms to invest in their communities. Community Foundations are helping to deliver a more inclusive capitalism, one in which individual virtue and collective prosperity can flourish.
What Professional Advisors say about Suffolk Community Foundation
Our county is intrinsically rural, and whilst a diverse economy has developed in recent years, many of the principles synonymous with the family farm are to be found in the DNA of Suffolk’s employers. Stewardship for the next generation. Building long-term value. Consideration for the local community – our own doorstep. It stands to reason; many of us employ and train people from the local schools and colleges, and count each other – local businesses – as suppliers and customers.
So in caring for the community around us, by supporting Suffolk Community Foundation and the essential role that it plays, we are also acting with sensible self-interest as business people. Supporting those organisations at the grass-roots level, those that don’t have flash marketing campaigns or highly paid fundraisers but that are doing things to make a difference to the lives of people in our communities, has to make sense. That’s why I’m proud to be fully behind the work of Suffolk Community Foundation.
I am so impressed with the work of the Suffolk Community Foundation – the recognition that relatively modest levels of funding can make an enormous beneficial impact on local community run groups is key to the wonderful contribution this charity makes in the county.
My client wanted to leave money to charity and thought the only option would be to give it to a
national organisation. However, by creating a fund with Suffolk Community Foundation we have
discovered a way to honour her wishes and go on supporting her local community in perpetuity.
Many clients have a keen desire to benefit their local communities but are at a loss as to which groups
or organisations really need their help and which are best aligned to their particular interests. Suffolk
Community Foundation provides a sustainable structure for those funds to continue to grow whilst at the
same time honouring their intentions and always remaining relevant to the needs of future generations.
I think Suffolk Community Foundation is in a unique position within our community to support local, grass
roots charities and as such is perfectly placed to help with personal, family and corporate philanthropy.
One of the most fulfilling things I’ve been involved with in my 32-year career was providing the advice and
steer to a client who became a donor to Suffolk Community Foundation. This brought so much joy to the
donor who was happy she did the right thing with her money.
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