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New war memorial funding.
Submitted by gunnerman1632 on 29 June, 2008 - 21:36.
I am trying to get funding for a new war memorial for my local town of Baillieston in the East end of Glasgow. Do I have to register as a charity to receive donations from local businesses? I am finding it really hard to find funding as a lot of the orginisations wont fund new memorials they will only give money for existing memorials that are in need of repair !
I have been reading some of the posts on here and they say that I would need 5k in the bank before I can call myself a charity! So this means I cant get money from local businesses unless I become a charity,and I cant become a charity until I have 5k in the bank which I want to get from the local businesses.Its a real Catch 22 situation ! Can anyone help me here please and put me straight.
Thanks
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Thanks very much for this
Thanks very much for this Gerry. I have the local MP on my committee and we have just set up our constitution and a bank acount.This is great news ! I will have someone look into how the Scottish law is on the 5k in the funds rule.
regards
Sam Gillan (gunnerman)
New Memorial Fund
Hi, Gunnerman
You need the £5k to register as a charity in England and Wales - I don't know the scottish rules on this one.
However, there's nothing to stop you approaching companies or individuals for donations, provided you're transparent and honest about how you go about it.
What I would suggest is that (after checking with someone who knows the scottish legal position)you set up a small group of Trustees who can agree a constitution and open a bank account in the name of the appeal. At least one of your Trustees should be someone outside your immediate group of friends - maybe an accountant, bank manager, solicitor. This will give potential donors the confidence that any donations they give will go to the correct purpose.
Hope this helps.
Cheers
Gerry
Gerry Beldon FInstF
Director, 26-01 CIC
www.26-01.com