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WHAT IS MEANT BY GRANT MAKING?
Grant making is the payment of a voluntary contribution by the religious institute charity to another person or another organisation, including the institute’s generalate or an overseas province of the institute.
A GRANT = A DONATION = A CONTRIBUTION
A grant/donation can be made to:
Another charity or an organisation that will use the monies for a charitable purpose
The institute’s generalate
Another province of the institute
An individual
If the religious institute’s charity is going to start to give away serious amounts of money each year it needs to do it in a planned and considered way otherwise it will end in, at best, a bit of a mess (which is not ideal) and, at worst, with questions being asked by both the Charity Commission and HMRC (which is far from ideal and a bit of a disaster!).
One of the rst things that charity trustees need to do once they have decided to give donations and/or grants is to sit down and formulate a grant making policy.
WHAT IS A GRANT MAKING POLICY?
In essence a grant making policy is a summary of the following:
How much the charity trustees wish to give away each year?
What causes/missions the charity trustees wish to support and how?
o The causes supported must be consistent with the objects of the religious institute charity
Chapter 5
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