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Acorn
Funds Grow an Acorn Fund
Now you can support local good causes and build up a lasting fund for you,
your family or your company by setting up your own Acorn Fund with County
Durham Foundation.
You make a regular contribution to your endowment-based Acorn Fund, and receive up to an extra 40% from the taxman if you are a UK taxpayer. When you can afford it, you can also add in extra payments to your Acorn Fund.
In the first few years the income from your Acorn Fund can be used to support the local good causes listed overleaf or reinvested to grow the value of your fund.
You can name your fund after yourself, a family member, company or friend you wish to remember. The best thing about your Acorn Fund however, is that it will continue to help the causes close to your heart for generations to come.
“We think that Acorn Funds are a great way to build up
lasting support from modest beginnings.”
Andrew and Shelagh
Martell
Why establish an Acorn Fund with County Durham
Foundation?
Since 1997 County Durham Foundation has helped local people, families and
companies give back to their communities by creating their own charitable
funds, which are invested to provide an annual income that is awarded as grants.
Until this point the minimum size for an endowment fund at County Durham Foundation
was £25,000 but Acorn Funds provide an opportunity for people, who do
not have a large capital amount to donate, to build their fund over a number
of years.
Benefits
Having your own Acorn Fund is just like growing your own charitable trust,
but without all the red tape and solicitors bills. Your fund will be invested
by expert investment managers and monitored by our committee of knowledgeable
trustees.
By working with County Durham Foundation, you gain direct access to thousands
of local charities and worthwhile causes that really need your help.
Acorn Fund holders will be invited to County Durham Foundation events and
have the opportunity to visit projects and meet people they have helped.
From little acorns...
To set up an Acorn Fund requires a minimum donation of £1,000 per year,
which can be made by monthly installments and/or one-off payments. If you
are a UK taxpayer, we can claim back the standard rate of tax you have paid
on your donation through Gift Aid. This means that an annual contribution
to your Acorn Fund of £1,000 will only cost you £780 (or £65
per month). For higher rate tax payers, this will cost even less as you can
claim additional tax relief (currently at 18%) in your tax return - therefore
£1,000 each year will only cost you £600 (or £50 per month).
You may wish to consider giving shares, which can be even more tax effective.
We will be happy to send you further information about giving shares.
What if something changes? If your income increases or you receive a windfall
from an inheritance, property or sale of a business you can make additional
gifts or increase your regular contributions, allowing you to grow your Acorn
Fund faster.
...grow great oak trees
When you reach £25,000, your Acorn Fund turns overnight into your own
charitable endowment fund. But you don’t have to wait for that day.
You can start now by choosing your fund name and the good causes you would
like your fund to support.
A lasting legacy
For many people the most significant gift they are able to make to charity
is a gift in their will. If you establish an Acorn Fund in your lifetime,
you can add to your fund in your will, ensuring that one day even more grants
can be awarded to the causes close to your heart.
Growing their own Acorn Fund...After hearing about Acorn Funds, Andrew and Shelagh didn’t hesitate to sign up...Click here to read more.
Community Action – County Durham Foundation’s
flagship fund that supports a variety of projects and causes according to
greatest community need.
Children and young people – projects that offer new
skills, experiences or aspirational opportunities to disadvantaged and talented
young people.
Elderly people – projects that offer support and increased
access to services for the elderly.
Improving health – encourage disadvantaged people to become healthier
and improve the quality of life for people with disabilities.
Improving the environment – practical environmental
improvements at a community level such as parks, community gardens and allotments.
Community regeneration – helping communities to help
themselves, making County Durham and Darlington a better place to live.
Education, training and skills development – training
and mentoring for the low-waged and unemployed
to gain new skills and qualifications as an aid to employment.
Community arts projects – community-based arts projects.
Young musicians fund – pays for instruments and young
musicians’ tuition fees.
For more information, click here to download our Acorn Fund leaflet, or you can contact us directly.
