Many supporters of Kent Community Foundation (KCF) have been donating for many years and are committed to supporting the county in the long-term, even when they are no longer here.
By supporting KCF in your will, you can give back to your local community in a number of ways. We provide a flexible range of options for people interested in leaving a permanent legacy.
Donations are typically invested as an endowment fund and the income distributed each year as grants, meaning that the gift provides long-lasting benefit for generations to come. We can accept gifts of shares, property or investments, as well as cash donations.
For those who do not want to establish an endowment fund, there is also the option to create a flow-through fund. Donations are not invested but are spent down for immediate impact in our Kent and Medway communities, usually over a defined period of time, which we agree in advance.
How does it work?
Our board of trustees is legally responsible for ensuring that donations are used for charitable purposes in line with restrictions agreed with you as the donor. Your 'Letter of Wishes' is a practical vehicle to agree in advance with KCF your wishes and any restrictions relating to your charitable legacy gift. Your gift, once received by KCF, does become the property of the charity and KCF has ultimate discretion over grant-making in line with the restrictions agreed with you as donor. In order to ensure that the original spirit of the gift is kept alive, KCF trustees retain the flexibility to respond to changing community needs if, over the years, restrictions become irrelevant, obsolete etc.
All legacy gifts to a registered charity are exempt from inheritance tax (IHT) and Capital Gains Tax and could reduce the total amount of tax paid on your estate. If you leave 10% or more of your estate to charity, any remainder over the IHT threshold will be taxed at the reduced rate of 36% rather than 40%. For example, leaving a legacy of £100,000 actually only ‘costs’ £24,000. We recommend discussing this with your Professional Advisor.
We are delighted to be working with Kent Community Foundation. They have enabled us to establish a significant legacy fund that will continue to benefit local communities for years to come, and means to reach out to many more Kent children’s charities than would have been possible if we had attempted to manage the trust independently.Ian Priston, Boys & Maughan Solicitors for Albert Burns Children's Trust Fund