GIVING WITH IMPACT
Charitable giving is embedded in the bank’s heritage. For almost 350 years, the Hoare family’s philanthropy has helped shape some of the UK’s most cherished institutions. This remains the case today as we find new ways to maximise our impact and help our customers make a difference.
We have always been pioneers in philanthropy. ‘Good Henry’ Hoare was a founder, in 1719, of the world’s first publicly funded hospital (Westminster Hospital); the world’s first hospice (Royal Trinity Hospice) was established by William Hoare in 1891; and many other hospitals, schools, churches and charitable institutions have sprung from the family’s energetic vision for society.
Today we continue to refine the art of effective giving: supported by long experience and newly developed profiling tools, our Philanthropy team identifies causes aligned to the bank’s values and establishes the most efficient means of supporting them.
Empowering our customers
Many of our customers share our philanthropic aims; we work closely with them to understand their charitable ambitions and we think creatively to help them fulfil these ambitions in the most effective and impactful way, whether through one-off donations or longer-term giving strategies.
The Master Charitable Trust
In 2011 we were the first UK bank to establish a donor advised fund, the Master Charitable Trust. This works as an alternative to standalone foundations or charitable trusts, allowing customers to organise their giving effectively and efficiently without the burden of administration.
Personal and business customers can establish and name their own Giving Fund as a sub-fund under the MCT umbrella. With their trustees’ approval, they are able to contribute a very wide range of assets including cash, shares, property and art. Funds can be held in cash or invested for growth, and personal contributions can be increased using Gift Aid if customers are eligible. Grants can be made to recipients in the UK and internationally.
With a minimum balance of £250,000, an MCT Giving Fund is a simple and cost-effective vehicle for philanthropy. Many of our customers also appreciate the opportunity to elect a successor as chairperson of the Giving Fund, potentially creating a personal philanthropic legacy.
More details of our Master Charitable Trust:
Video: The Master Charitable Trust
Each year the partners donate up to 10% of the bank’s profits to charity. Here Rennie Hoare explains how customers can use our Master Charitable Trust to increase the impact of their own charitable giving.
Rennie Hoare, Partner & Head of Philanthropy
THE GOLDEN BOTTLE TRUST
The Golden Bottle Trust is the cornerstone of the bank’s own philanthropic activities. Funded from the bank’s annual profits, the trust provides substantial support for causes and initiatives such as the arts, education, health, environmental sustainability and social investment, as evidenced in our Golden Bottle Trust Review.