Leaving a gift in your Will is a great way to create a legacy of your generosity and give back to the community that has been a significant part of your life. All grants made from your fund will be given with recognition to you, if you wish, helping your name to live on within the community for years to come.
When you set up your legacy fund, you are able to direct us to the types of cause you would like to give to, safe in the knowledge that we will carry out your wishes accordingly. If you wish, family members can be involved in the distribution of your fund.
Alternatively you can leave us to choose where your fund will be distributed, knowing that we will give on your behalf to some of the most deserving causes in the local community.
All legacies left to County Durham Community Foundation are exempt from Inheritance Tax, saving your estate up to 40% in tax.
A specific sum of money of your choosing is left to County Durham Community Foundation.
A gift of your property or shares (for example) are left to County Durham Community Foundation to enable us to raise funds.
You give all or part of your estate to County Durham Community Foundation, after prior legacies (such as inheritance to family members or loved ones) have been paid.
Following the death of your partner and only then, the balance of any estate would pass to County Durham Community Foundation.
A deed of variation is executed in favour of County Durham Community Foundation, no more than two years after your death. This allows you and your family to reduce Inheritance Tax liability and provide a lasting benefit to local causes of special interest to you.
If your company leaves a location but wishes to leave a positive and long-lasting impact in the area, you could consider setting up a fund named after your company. Your organisation will then live on through a gift to the community where your business was located.
Francis James Bell was a local man from Darlington who lived with diabetes. His wife died before him, and having no children to leave his estate to, he chose to leave his money to a cause close to his heart – to support diabetic research. The Francis James Bell fund was set up to support medical students and staff in the North East needing financial assistance to research the effects of diabetes and methods of prevention or cure.
Durham University PhD student Jenny Howse received funding from the Francis James Bell Fund to research the detection of diabetes through eye examinations.
A total of £18,200 from the fund has allowed Jenny to carry out ground-breaking research and present her findings at an international conference.