Educational Development and Benevolent Fund Overview

Introduction

The Institute of Quarrying founded the Benevolent Fund with the objective to provide financial support to members or former members of the Institute of Quarrying, or their dependants, whose income fell below the threshold set by the Committee of Management. The Constitution of the Fund does not allow for assistance in cases where the individual is not, and never has been, a member of the Institute.

The Fund was created principally by donations from branches, usually derived from fund-raising activities such as raffles or tombolas held at branch dinner-dances, see Branch Contributions to Educational Development and Benevloent Fund. Support also came from individual donations by members of the Institute, usually by way of four- or seven-year deeds of covenant. Additionally, income was obtained from investments accumulated over the years.

By the mid 1990s, the number of beneficiaries had reduced to approximately one dozen and income exceeded the payments to beneficiaries so other charitable uses of the Fund were considered. Thus, in 1996, an Educational Development Fund was created and branches were invited to donate money to both funds if they wished.

In 1999, the Benevolent Fund was itself the beneficiary of a large bequest from the estate of the late Gerald Marshall with the result that investment income alone now exceeds the envisaged needs of the beneficiaries. Thus, the Benevolent Fund and the Educational Development Fund were combined to form the Educational Development and Benevolent Fund or EDBF. The EDBF has a new constitution, and is administered by a Committee of Management.

Educational activities

The Constitution of the EDBF defines the educational objective as ‘to afford financial support for projects relating to the advancement of education related to the science of quarrying’. Proposals for projects worthy of financial support are submitted to the Committee of Management by the Education Committee.

Benevolent activities

The Fund currently supports a small number of beneficiaries with periodic financial assistance. The amount is based on the result of an annual means test and is subject to approval by the Committee of Management, the Fund’s governing body. One-off payments can also be made to other qualifying individuals in need of temporary assistance.

The day-to-day administration of the Fund is carried out by the Chairman and Secretary of the Fund. A Correspondence Secretary provides the ongoing liaison with the beneficiaries and requests for assistance in new cases of hardship should be addressed to the Secretary of the Fund.

The Fund is indebted to contributors for their kind and generous support and to branch members for the time and effort spent on fund-raising.