4.11.2010 charitable trusts presentation

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Tamar Community Tamar Community Trust Trust

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Tamar Community Tamar Community TrustTrust

Scope

✶ Background - why ???

✶ Trust - process/ structure

✶ Learning

✶ Future opportunities

Project Legacy - HLF Exit Strategy

Project Legacy - Private and Public Sites

Asset holding - buildings, land and

genetic banks

Management mechanism

Asset management

Filling holes and niches

Long term support networks

AONB trading and marketing body

Trading skills

Big Society - Direct community engagement and management

Community Rooted - Friends of the Tamar Valley

Funding - Access to /transfer to AONB Core

Costs / removal overheads

MechanicsMechanics

To incorporate or not…✶ Latin root – ‘corpus’ = body – “artificial legal people”

✶ Unincorporated = no separate body or identity, so individuals are jointly and severally (individually) liable for activities – subject to Common Law

✶ Incorporated = separate body to hold assets, employ people, enter into contracts and sue or be sued! Subject to Company Law.

Types of incorporated bodies..

✶ Companies: several types – governing document is Memorandum and Articles of Association

✶ Three main types in this sector

✶ Limited by Shares or by Guarantee

✶ Industrial & Provident Societies (IPS)

✶ Society for the Benefit of the Community

✶ Bona-Fide Co-operative

✶ Community Interest Company (CIC)

Key considerations…✶ Ownership - Private / Common – (not-for-private-profit)

✶ Management - Community / Collective – everyone /Democratic – a few

✶ Principles / Objectives - Social Enterprise / Co-operative /Development Trusts

Charitable Status✶ Companies > Charity Commission

✶ IPS (SBC) > Inland Revenue

✶ Heads of Charity dictate whether organisation is eligible to receive status

✶ Tax advantages – Business Rates and Corporation Tax

✶ Trustees govern organisation – workers not currently allowed on management

✶ Also governed by Charity Law if company

Community Interest Company (CIC)

✶ Introduced in July 2005 as new type of social enterprise

✶ Statutory “asset lock” to prevent asset and profit distribution except for community purpose

✶ Must operate for the benefit of the community and pass a Community Interest Test

✶ Has limited liability, with shares or guarantee

✶ Must be able to demonstrate community benefit to new CICs regulator (through eg. social accounting)

What to Go For

✶ Co-operatives - organisations which are owned and controlled by their members OR worker co-operative the employees own and control the business

✶ Community Businesses - businesses which are owned and controlled by a community could be a geographical community or ‘a community of interest’

✶ Development Trusts -asset based organisations owned and controlled by the community, often have a range of projects under one umbrella

✶ Trading subsidiaries - the trading arm of a Charity or Trust

Tamar Community Trust

LearningLearning

Learning

✶ Mem and Arts - Getting foundations right

✶ Governance - Another complete organisation to run and administer

✶ Political - Influenced and controlled

✶ Trustees board - access / skills/ balance/ recruitment

I am an AONB ManagerI am an AONB Manager........ I would want you to think about........ I would want you to think about

Future

✶ Consider benefits that a Trust status can bring

✶ Look at how to access these benefits directly or indirectly - i.e. perhaps no point in us all doing it independently, can we collaborate

✶ Try to look at less local authority reliance, more direct community engagement - could some AONBs become independent area based organisations. more representative of place rather than designation boundary.