In 2015 a successful business man from Nottingham decided to start a fund with 1% of his profits to support local charities in Nottingham. A second business leader quickly saw the potential and was the first to offer his support.
Working with Nottinghamshire Community Foundation (NCF) they have created a new charitable fund with the aim of growing it to build a permanent legacy for the people of Nottingham. As government and councils reduce their grants to local charities, they wanted to do what they can to help. To hear from them directly, watch this short film or watch the full length version of the film.
Many people can afford to give 1% of their salary, their company profits or dividends and every penny matters to local charities. £500 can go along way for a small local project providing essential support in our communities.
Whilst we know many people give generously to charity, many would like to give to more local projects, if they knew which ones to give to and if they knew the groups are carefully checked and the spend monitored.
This is where NCF offers all donors the reassurance:
100% of all donations will go to local charities
Projects will be carefully assessed to accredited standards
All groups and applications are checked for Safeguarding
Grants are only awarded to those who really need it
Purpose of the 1% Matters Fund TM
The 1% Matters Fund TM will provide small grants to local projects who are helping young people, the elderly, those with Alzheimer’s or Dementia, vulnerable people or those suffering mental health issues.
NCF will administer the fund according to their rigorous quality standards as approved by the Charity Commission and work with donors to make joint decisions on the most worthy causes. The first grants have already been awarded to Radford Care Group who support the elderly www.radfordcaregroup.org.uk and She UK www.she-uk.org.uk & www.mending-uk.org who provide adults with support around childhood sexual abuse.
- By standing order – this is a safe and convenient way to make a regular donation to the fund. To set up a standing order please complete ‘this form’ and hand it in at your bank, please call us on 01623 620202 for our bank account details. Alternatively you can set up a standing order through your online banking or telephone banking services. When setting up a payment please use 1MF and your surname as payment reference so we can ensure your donation goes to the correct fund (if no reference is used your donation will go into our Major Oak Fund).
- By cheque – please print off a gift aid form by clicking on the giftaid it logo below, complete it and return it to us (address on the form) together with your cheque made payable to Nottinghamshire Community Foundation and write 1% Matters Fund on the back of the cheque
- By Paypal – please use the donate button below (please be aware Paypal take 3.4% + 20p from your donation)
- By bank transfer – to transfer directly to our bank call us on 01623 620202 for our account details. When making a payment please use 1MF and your surname as payment reference so we can ensure your donation goes to the correct fund (if no reference is used your donation will go into our Major Oak Fund).
GIFT AID Whichever method you use to donate please complete a ‘Gift Aid form’ by clicking the logo below. Using Gift Aid means that for every £1 you donate we can claim an extra 25p from the Inland Revenue.
Thank you for your support
From The 1% Matters Fund TM founders, the Team and Trustees of Nottinghamshire Community Foundation and more importantly from all those who will benefit from your generosity.
Tax Relief on donations to the 1% Matters Fund TM
Q. If a company director gives 1% of his/hers company profits what is the tax relief benefits?
A. Provided that the company follows the correct paper trail to ensure the donation is made under the Gift Aid rules, then the company can claim a deduction for the donation in full against its corporation tax profits. This means that the company is effectively obtaining tax relief at 19% on the donation (assuming that the company is liable to pay corporation tax at the current small company rate of 19%). The Nottinghamshire Community Foundation charity / 1% Matters Fund TM will receive the gross donation direct from the company and so there is no claiming back of any tax from HMRC.
The Director personally would not be party to the donation and would therefore not be involved in any tax relief.
Q. If a company director gives 1% of his/her salary or interest on investments what are the tax benefits?
A. If a company director gives 1% of his salary under the Gift Aid rules then NCF/1% Matters Fund TM will be able to recover the extra 25% in gift Aid from HMRC if he or she has filled in the gift aid form aid based on the amount donated.
From the director’s point of view, it is also the standard gift aid position; namely that s/he will be able to obtain higher rate tax relief for the donation if a higher rate tax payer.