19th July 2019
This week Prism recognises a momentous milestone achieved by Matrix Causes Fund (Matrix). Established in 2003 as the charitable arm of the prestigious Matrix Chambers, the Collective Fund has distributed over £1,000,000 in small grants to the third sector. Remarkably, these grants have benefited over 180 national and international charities. Matrix is highly influential in the social impact field, promoting access to justice, equal opportunities, or a sustainable environment, particularly amongst marginalised groups. Its benefits are far reaching, from supporting the sustainable livelihoods of Mayans in South America, to championing pro bono counselling for victims of domestic abuse in the UK. Its £4000 grant to COCO (Comrades of Children Overseas), alone trained 32 Tanzanian women in sustainable agricultural practices, improving their annual earnings 5-fold.
…to name but a few.
Prism for Corporates
Restructuring as a Collective Fund in 2017, Matrix have been able to upscale and streamline their charitable giving. £280,000 has been distributed within these two years, a noticeable spike. Matrix benefits from the ‘Prism for Corporates’ model, a vehicle enabling organisations to fulfil their philanthropic aims in a time and cost-efficient manner.
The practice is simple – Prism offers firms a branded account to which they can donate, often collecting contributions from employees or members. Prism works with the firm to create a suitable application process and receives requests to grant to successful applicants in the UK or overseas. Prism provides the charitable structure, due diligence knowledge and conducts all financial administration related to the account. This includes claiming gift aid and providing annual statements for donors to calculate their potential tax relief (up to 25%).
Prism for Corporates offers the ideal balance, encouraging firms to have ownership over their grantees, without the liability or responsibility of being a foundation.
More on Matrix Causes Fund:
Please join us in congratulating Matrix on this landmark achievement #MatrixCauses #MCF1million.