How it all works - step 3 Funding
The GivingWorks micro-trust is designed to make it easy for you to fund your chosen causes:
- In addition to your initial donation you can choose to make “top up” donations to your micro-trust at any time.
- Other people will be able to make donations into the micro-trust on the same basis. If you are an employee you may also be able to get your employer to match your payments into the trust. They too will receive tax relief on their contributions. There is no upper limit to the total amount that can be donated, and regular standing order payments are accepted as well as lump sum donations.
- Set up fees are paid to GivingWorks at this stage either by writing us a cheque or organising a bank transfer to us, to the value of £500, to cover our set up costs.
- Our management charges also become payable at this point. The management charge is deducted from the monies deposited into the micro-trust account. Currently this charge stands at 7% of monies deposited and it is levied at the time the monies are deposited in your micro-trust account.
- The micro-trust can be run as a short-term project or a life long commitment. If it is the latter we recommend that you nominate a successor in the micro-trust agreement.