20th March 2024
The next edition of our Collective Fund Blog series is all about the Corporate Collective Fund Structure.
At Prism the Gift Fund (Prism) we administer the charitable giving of several Corporates. We take on the administrative load from compliance to governance, leaving them to focus on the joy of charitable giving and enabling their employees, partners and clients to fundraise for the charitable causes they care about most. This not only saves time and resources but allows companies to focus on their core operations while still making a meaningful impact through philanthropy.
The prism offering for each client is bespoke. We work with our clients to tailor our systems to best suit their needs. A prime example of this is the Amber River Foundation: With offices across the UK, the Amber River Group recognised the fundraising potential (and team-building benefits) of setting up a Collective Fund encouraging each of their regional hubs to raise as much as possible for their chosen charity. The flexibility of the structure allows each office to fundraise for their own selected charities – often causes that are local and close to their hearts. Each regional hub has its own dedicated online campaign page to collate these funds and serve as a platform where they can celebrate their collective fundraising efforts.
Prism monitors and reconciles these donations and claims gift aid where appropriate, increasing the pot of funds raised for each charitable cause, before conducting due diligence and granting the funds to each chosen charity. This model also allows the company to supplement donations raised with match funding and boost the impact of their giving. Once the grants have been utilised, Prism requests reporting from each of the recipient charities which serves as a tool for assessing the impact of each grant, offering businesses valuable insights and transparency into the outcomes of their philanthropic endeavours.
We are seeing a growing number of companies looking to set up their own Foundations. By setting up a Corporate Collective Fund – which simplifies the process, maximises impact, and fosters collaboration – businesses can make a meaningful impact through philanthropy. Other corporate Collective Funds at Prism include the Matrix Causes Fund, Phoenix Court Works, True Travel Foundation and the Y Tree Foundation. You can find our full list of Collective Funds listed here on our website.
If you are interested in opening a corporate Collective Fund with Prism or have any questions, please contact our Deputy CEO: Adiva Kalms – [email protected].
