Grant making policy

  1. Charitable purpose and objective
  1. The trustees apply the Perficer Foundation funds at their discretion and follow the charity’s charitable purposes and objectives.
  2. Trustees may appoint a sub-group to consider the distribution of beneficial grants on its behalf and make recommendations according to charitable purposes and objectives. Any decision whether to award a grant remains solely the responsibility of the trustees.

  1. Priorities for support
  1. The amount of grants or scholarships that the trustees can support is limited to the number of available funds for distribution each year. The trustees have determined that the current priorities for funding are:
  •  To promote and help fund the advancement of education.
  1. The trustees’ priorities for support will be reviewed every year and may be changed depending upon circumstances and the perceived effectiveness of applying funds. Any change to these priorities must still fulfil the charitable purpose and objectives of the charity.

  1. Principles applied in determining support.

In awarding grants, the trustees will apply the following principles;

  1. Each request or situation will be considered on its own merits. Where conditions have been previously considered (whether successful or not), any due diligence undertaken to reach an earlier decision will be made available to the trustees.
  2. The trustees will carry out sufficient due diligence to ensure that the requestor situation meets both the charitable purposes and the priorities for support set out in this policy.
  3. The trustees are content to work in partnership with other grant-making bodies where entire studies’ funding is beyond any single organisation’s scope. 

  1. Applicant and partner due diligence
  1. The trustees will carry out sufficient due diligence on any potential beneficiary to ensure:
  •  The identity of the beneficiary;
  •  That funds are applied in accordance with the charity’s charitable purpose;
  • That funds are not knowingly used for:
  • Money laundering in accordance with the operative Money Laundering regulations;
  • Terrorist financing in accordance with the Terrorist Act 2000; 
  • Bribery in accordance with the 2010 Bribery Act.

  1. The trustees will adopt a risk-rated approach to due diligence. Risk factors will include; the size of the grant; the country of residence of the proposed recipient; the geographical location in which the grant will be applied; the nature of the relationship between the charity and the applicant.
  2. Grant size will be an essential risk factor, and the larger the grant, the greater the likely level of due diligence undertaken.
  3. Where the proposed beneficiary is well known to the trustees and the relationship has been long-standing and well established, and the amount of due diligence undertaken is likely to be reduced.
  4. The results of any due diligence will not last indefinitely. In cases where beneficiaries are supported for a significant time, additional due diligence will be undertaken on a change of circumstances that might impact the beneficiary, or in any case, after one year.

  1. Administration
  1. For larger grants, trustees should be confident:
  • Of the purpose of the proposed grant and how the grant will be managed and applied;
  • Of the person(s) responsible for the management of the grant;

  1. For substantial grants, in addition to the requirements set out in 5.1, trustees would expect a written report (on request) setting out the progress and achievements for the period covered. 
  2. With the charity and the beneficiary’s agreement, grants will be provided by means of an electronic banking transfer or a cheque. The charity’s normal payment authorisation process will be applied to any payments.
  3. Where the grant is for a specified project or purpose, and in situations where that purpose does not proceed or where any grant or part thereof remains unused, unused funds must be returned.