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Appeal Fund
Submitted by jillllewis on 19 June, 2008 - 19:17.
Myself and some friends are setting up an appeal fund to raise money. A friend is terminally ill and we want to raise funds to aid with his care and provide some additional cash for his wife and family after his passing. Can anyone advise on the best way to set this up to avoid any tax and legal implications.
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Appeal Fund
Hi, Jill
The most simple and straightforward route would be for you to gather a little group of Trustees - you can't register as a Charity until you have £5k coming in, and even then, for the benefit of an individual, you would need some careful advice, but the Trustees will act as guarantor to donors that the money is being spent as intended.
Your Trustees will open and operate a bank account for this sole purpose.
If you expect to be raising larger amounts of money, I'd suggest finding yourself a local expert to go through it in a bit of detail, rather than trying to tease out all the issues here. You'll find such an expert at your local CVS, or you might like to try a Trustee of another local charity, or even Citizens Advice.
If you get really stuck, I don't mind giving a little advice off-list - you can get me through our website.
Cheers
Gerry
Gerry Beldon FInstF
Director, 26-01 CIC
www.26-01.com