TOP TIPS TO SECURE CHARITY FUNDING
Released On 20th Apr 2022
With prices soaring and the cost-of-living crisis beginning to bite, it is a concerning time for the UK Charity sector.
With less money to spend, it is inevitable that people are going to donate less money to charity, if at all.
Within this challenging climate, it is vital that charities keep on track of the different sources of funding available to them.
Below are some of the ways that charities can apply for funding in the UK so they can continue to carry out their invaluable work, day in, day out.
Investigate government funding
Many charities are funded by central or local government, so this funding should be on the list for any charity searching for funds.
Funding can be given directly to a charity or through an organisation such as Arts Council.
Charities helping charities
Organisations such as the National Lottery Community Fund can be a useful source of funding, while the Charity Commission provides a search tool for charities operating across the country. This can be a handy tool for finding out charities that could be a funding source.
The gift that keeps on giving
Gift Aid is a great way for charities to make the most of every donation they receive.
When an individual donates using Gift Aid, the charity can claim tax from HM Revenue & Customs. For every £1 donated, charities can claim an extra 25 pence. Some charities are also eligible to claim a top-up payment on small cash donations.
Leave a legacy for the next generation
Charities rely on gifts in Wills to continue their vital work. Charities have helped practically everyone in some way or another in their lives, whether they know it or not. Leaving a gift in a Will is an important move we can all make to ensure charities are there to help the next generation.
It is good news for all involved as there are financial benefits for people who choose to leave a gift in their Will.
Donations left to charity are taken off the value of an estate before Inheritance Tax is calculated or the Inheritance Tax rate is reduced from 40 to 36 per cent as long as ten per cent or more of the estate is left to charity.
Are you looking for help and advice to protect your charity's future? Contact our expert team today.
