The Foundation is actively involved in a number of projects which support its objectives of promoting effective philanthropy and helping build the capacity of the voluntary sector.
The Guernsey Community Foundation LBG (“Foundation”) is a company limited by guarantee incorporated and registered in Guernsey on 23 April 2010 (Registration No. 51805). It is a non cellular company within the meaning of section 2(1)(c) of the Companies (Guernsey) Law 2008 as amended and a company limited by guarantee within the meaning of the section 2(2)(a)(ii) of the Companies (Guernsey) Law 2008 as amended.
The Guernsey Community Foundation LBG was registered with the Income Tax Office as a registered charity on 19th July 2010.
The principal objectives of the Foundation are to promote philanthropy and charitable giving, primarily within the Bailiwick of Guernsey, and to bring about real improvements to the community and the lives of the people most in need provided always that Foundation’s activities shall be conducted exclusively for the purposes of charity as such expression is defined in section 40(k) of The Income Tax (Guernsey) Law 1975 as amended.
The members of the company are to be known as Patrons and have overall responsibility for the good governance of the company. They will achieve this by a mix of regular formal and informal communication together with carrying out a comprehensive six monthly review of activity by a Supervisory Board formed from the Patrons.
Board of Directors
The Board is responsible for the overall day to day management of the Foundation and is responsible for its governance and strategic direction, ensuring its objectives and programmes are in accordance with its Memorandum and Articles of Association. Financial and legal responsibility for the operation of the Foundation is shared amongst the directors. Corporate governance of the Foundation is overseen by a designated director.
The Board is accountable to the Patrons.
A group of Founders has committed to provide funding to cover all research and administrative costs incurred by the Foundation for the next five years. This ensures that all donations received are applied in the grants programmes.
The Board has appointed a company secretary whose main duties are maintaining the statutory books, recording board decisions and dealing with other legal and statutory requirements. The Company Secretary is also responsible for ensuring good corporate governance in conjunction with the designated director.
GCF’s financial year end is 30 April. Externally audited financial statements are reviewed and approved by the Board and presented to the Patrons.
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