How the Together Charitable Foundation Works

Designed by Financial Planners for Financial Planners

Together Charitable Foundation (TCF), whilst a charity in its own right, acts as an umbrella known as a Donor Advised Fund (DAF) under which clients hold their own personal charitable funds. Clients’ funds are effectively their own charitable trusts but without the associated costs and administrative issues. TCF enables tax efficient giving and allows for multiple donations to be made without requiring a separate gift aid claim every time. The grant making facility can be extended to family members. Upon death, the DAF can be passed on outside of inheritance tax assessment to a named successor.

A DAF can have a wide range of assets, not just cash, donated into it. Unlike other DAFs, a distinguishing feature of the TCF as the charity for the financial planning industry is that the client account holder can continue to grow their assets tax efficiently inside the charity and still have them managed by their trusted financial adviser.

Making Grants to Charities – How does it work

Once a TCF account is open a client can immediately make donations to charity by advising the TCF administrator of the name of the charity and the amount they wish to give and whether or not the donation is to be anonymous. The TCF staff undertake due diligence that the charity is registered with one of the UK Charity Commissions and there are no adverse issues after which the payment is made to the charity.

Enhanced Philanthropy Services

The TCF training programme has been designed to enable financial planners to assist their clients to make informed donation and grant making decisions. Where issues relate to more complex giving; for example, funding a development or programme over time, joint ventures, governance or overseas giving which require a more in-depth consideration or plan. TCF can provide that expertise on a bespoke basis through its expert philanthropy panel chaired by Professor Paul Palmer.