Grant-making Trusts in Jersey – just what are "Jersey Foundations"?
Howard Lake | 24 June 2009 | Blogs
Third Sector has just reported that a new model is being introduced in Jersey, which will allow philanthropists to establish private foundations, without Charity Commission regulation. It’s great to see that something is happening with regard to charity registration in Jersey, but, when I look into this further, I find this development a little worrying.
The Jersey Foundation may be used for charitable and non-charitable purposes. Some common uses for the Jersey Foundation are private wealth management, as well as charitable purposes. This reminds me of what Chris Carnie said at the first Researchers in Fundraising conference that I attended many years ago – that in some parts of Europe, Foundations were sometimes established as tax efficient vehicles for wealthy people. Approximately ten years later, this is being introduced in the Channel Islands. Is that progress, at all? It remains to be seen how useful this development will be for fundraisers and researchers.
The “Jersey Foundation” requires a charter and regulations. The Charter is a public document setting out the name and objects of the Foundation. The Regulations are private and set out how the assets are to be administered and how the Foundations’ objects are to be achieved. Apparently Jersey Foundations will be registered with the Registrar of Companies in Jersey.
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I suspect that the Association of Jersey Charities will remain an essential resource for researching charities in Jersey for some time yet.
Finbar Cullen
ResearchPlus
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.