The Company has built a sizeable reserve of invested funds through the generosity of Innholders’ bequests over the years. The investments are managed by our Investment Committee who have a responsibility to the Court to preserve the capital value in real terms whilst providing for real increases in the annual grant giving.
Every penny of our charitable fund is used for charitable purposes. The committees that are responsible for allocating the funds work on a voluntary basis and all administration costs, including audited accounts, are met by the Worshipful Company of Innholders. Grants are only awarded to charities for specific projects, rather than on-going costs, therefore the funds go direct to those that are in need and not on the employees or running costs of a charity.
When an application is received it is discussed by the committee and if further information is required a member of the committee will contact the charity and then send the information back to the committee. Once the committee are happy with the proposal they then put this to the Court (Trustees of the Charity) for approval. Once approved the Clerk’s Office send out a contract which must be signed by the charity and then payment is made. The charity must submit an annual evaluation report to the committee to be assessed. If this is an ongoing project the committee must be content with the evaluation before awarding further grants.