Why does the school need the support of the Foundation Trust?
The aim of the school Governors’ long-term aim is to use fee income solely to meet the running costs of the school, and to pay for capital works, bursaries and other awards out of other income. This means developing philanthropy among the school’s supporters and making good use of our facilities commercially.
Doesn’t the Harpur Trust provide enough financial assistance to make this unnecessary?
The Harpur Trust currently provides the school with some income from its endowments to fund a limited number of scholarships but direct contributions to meet other running costs ceased many years ago. The Harpur Trust assists by arranging loans to the school Governors for the construction of new buildings but, nevertheless, the school must repay the loan and meet all interest charges that accrue.
If the school can borrow money for a new building, why is the Foundation Trust necessary?
In the past the school has borrowed money for new projects and repaid the loan over a 20-year period. This has meant the school has had to service a large debt and meet the costs of this out of fee income. In addition, due to the significant costs associated with these projects they have also had to be funded from reserves and fundraising.
The Foundation Trust is also tasked to raise funds for (means tested) scholarships/bursaries and to help leavers who wish to undertake projects with educational value during their GAP year. There are no other sources of funding available.
Why is the Foundation Trust a separate charitable company and not part of the school?
In the dim and distant past the Harpur Trust set up a subsidiary charity for each appeal. However, the Foundation Trust is a permanent organisation to support Bedford School and the Bedford School Governors felt that it was important for our supporters and donors to be closely identified with the Foundation Trust and to feel some sense of ownership. The Members of the Foundation Trust are the donors. They elect three of the nine Trustees and are entitled to vote at Foundation Trust general meetings. They receive annual reports and accounts and are generally involved in the management of the Foundation Trust.
How do I become a member?
The Trustees of the Foundation Trust elect Members. As a general guideline, Members will have contributed or made arrangements to contribute a total of £1,000 or more. This contribution includes any Gift Aid or other tax relief that the Foundation Trust is able to claim. We recognise different levels of giving through grades of membership – read more about the grades.
Why set up a Foundation Trust rather than run an appeal for each project?
The rather old-style Appeal Fund is now seen as a rather inappropriate way of fundraising: one explained the need and asked for money with little or no preparation or warning, donors were thanked and then the Fund was wound up. There was little or no involvement on the part of donors and cultivation of a good relationship between the school and its supporters was limited, at best.
The Foundation Trust is permanent and can develop good relationships with potential donors over time. It involves Supporters in the future plans for the school and in the way it goes about fundraising for projects. The Foundation Trust runs legacy campaigns and fundraising projects. Most of the major independent schools have a permanent fundraising or development office.
If the Foundation Trust is independent, how does it ensure that it is always acting in the way that the school would wish?
The strategic objectives of the Foundation Trust are in lockstep with the school Governors. Two school governors sit on the Foundation Trust Board as observers and articulate the strategic thinking of the governing body.
The detailed fundraising activities of the Foundation Trust are directed by a Steering Committee. The members of this include the Head Master and other influential members of extended our school community.
Whilst remaining an independent charity, close communication between all those involved ensures that appropriate support to the school is the paramount objective
If you have any other questions, please do not hesitate to get in touch with us.