St. Mary's Community Foundation

The Deed of Trust is the ‘rulebook’ of the Foundation and provides a framework within which the Trustee Company must operate and details the charitable purposes that the Trust can support.

 

These include advancing education or religious activities of the Parish Community, assisting people in need, and providing financial assistance within the community.

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The charitable purposes cannot involve any remuneration or benefit to the Directors of the company, the Trustee or any associated entity.

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The Deed of Trust:

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•    Describes the powers and responsibilities of the Trustee;

•    Describes how the Directors of the company are appointed and removed;

•    Describes the approach to investment and distribution of Trust assets;

•    Describes how the constitution can be altered; and

•    Mandates what happens if the Trust is wound up.

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The Deed of Trust is available for examination at the Parish Centre.

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To maintain transparency and governance, the Foundation is required to produce an annual formal report including details of how it has applied charitable funds. Included in this report will be a set of audited annual financial accounts and assurance to the effect that all taxation and reporting obligations of the Trust have been satisfied.

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This report will be given to the Parish Council and presented to the Parish General Assembly