Benevolent funds


Published by a UUÂãÁÄÖ±²¥ Private Client expert
Practice notes

Benevolent funds


Published by a UUÂãÁÄÖ±²¥ Private Client expert

Practice notes
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A benevolent fund is an institution, including a body of trustees, which holds funds on trust for the purpose of relieving poverty amongst a defined group of individuals. The nexus between that group of individuals could be a common employer (as in Gibson), or a common trade or profession, or membership of a particular members’ club (as in Re Young), unincorporated association or friendly society (as in Re Buck), or even a common family member - so called ‘poor relations’ cases (as in Re Compton).

Most benevolent funds are registered charities. However, a benevolent fund will only now be charitable, with all the attendant advantages of charitable status (not least in regard to taxation), if it satisfies the requirements of Charities Act 2011 (CA 2011). Benevolent funds can be constituted, and generate their assets, in a number of different ways, as illustrated by the opening paragraphs (paragraphs 5 to 13) of Attorney General v charity Commission.

Relief of poverty

Whether or not a particular trust or gift qualifies as a charitable benevolent fund for

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United Kingdom
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Key definition:
Funds definition
What does Funds mean?

A collection of assets managed in accordance with an objective for the mutual benefit of all the investors. The investors' share in a unit-linked life or pensions fund is represented by the number of units within the fund that they have been allocated by the life company.

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