Branch Contributions to Educational Development and Benevolent Fund

Introduction

Traditionally, over many years, branches have organised fund-raising events to support the Institute’s Benevolent Fund. However, the number of beneficiaries supported by the Benevolent Fund has reduced to a dozen or so long-term cases, so the same level of income is no longer required.

An Educational Development Fund was created in 1996 to develop education in the industry in ways which could not be supported out of central funds. Branches fully supported this initiative by allocating part of the funds raised from raffles etc to the Educational Development Fund.

At that time, guidance was given in order to prevent the Benevolent Fund falling into a loss-making situation should too many funds be donated by branches to the Educational Development Fund. The envisaged need of the Benevolent Fund was £8000 per year to maintain the level of support given to beneficiaries. This was equivalent to about half of the money raised annually by branches.

During 1999 The Benevolent Fund was the very fortunate beneficiary of a major bequest from the late Gerald Marshall so that the fund now enjoys an investment income substantially greater than its commitment to beneficiaries. Thus, in the same year and by agreement at the AGM, the two funds were combined into the Educational Development and Benevolent Fund (EDBF).

Guidance Note

The allocation of funds raised by a branch is, of course, entirely at the discretion of each branch committee.

Given that the Educational Development and Benevolent Fund now earns sufficient investment income to meet the needs of beneficiaries, branch committees may wish to consider whether they donate all or part of the money they raise to the EDBF.

Alternatively, the committee may wish to support a local charity of their own choice or put the money to another use entirely. Council considers, however, that it would be appropriate for attendees at fund-raising events to be made aware of the ultimate destination of their contributions. This would avoid any mistaken assumption that receipts from raffles, etc would automatically be donated entirely to the Benevolent Fund.