Grant making policy
The charity invites applications for funding of projects. Institutional or individual applicants are invited to submit a summary of their proposals in a specific format. The applications are reviewed against specific criteria and trustees apply the net income of the Trust in furtherance of each sub-fund’s purposes, consistent with the Trust’s educational objects.
The trustees ensure that the Trust’s funds are administered in a manner suitable for both the donor and the ultimate beneficiary and with a clear understanding of what each party’s responsibilities entail. The Trustees are responsible for direct and delegated supervision of the investment of funds.
Our agreed investment policy covers two needs:
- The maintenance and, if possible, enhancement of the value of the invested funds whilst they are retained
- The creation of sufficient income to enable the Trust to carry out its purposes consistently year-by-year with due and proper consideration to future needs. A proper balance must be struck between these two objectives, so long as the goals and objectives of PFT are not compromised.
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to anticipated grant volume (based on past year’s experience) and budgeted overhead expenditure. This provides sufficient funds to cover management and administration and to respond to applications for grants which arise from time to time. Unrestricted funds were maintained at this level throughout the year.
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Donations received are allocated directly to the sub-fund specified by the benefactor. Any grant approved is allocated to the specific sub-fund, too. Interest earned as well as overhead expenses are allocated to each sub fund of CISV International Peace Fund according to its net asset proportion.