First Previous - Page 1 of 1 - Next Last

Small charity funds within larger funds

  • Member
  • Practice Licence
  • 182 posts
  • # 118707

My client is a charity and charities often have funds - ie donations for a named purpose. They have a building fund - ie donations specifically for the building. Well they've had such a donation but this one is even more specidic: it must be spent on new doors.

They want me to put it in their building fund but that would be a small fund within a larger fund and I'm not sure that's legal. I've searched around the internet and cannot find any ruling about this. So I'm asking you please if there's anyone who knows. If I can't find out, I'll have to set up a brand new fund but I'd like to do their bidding rather than explain that it's illegal.

If you need to know, I'm talking about 'restricted' funds rather than 'deignated' funds

Thanks

First Previous - Page 1 of 1 - Next Last
bottomBanner
loading