Charitable Purpose and objective
1.1. The trustees apply the funds of Voodoo Park Trust at their discretion and in accordance with the charitable purposes and objectives of the charity.
Priorities for support
2.1. The number of disadvantaged women that can be supported by the trustees is necessarily limited to the amount of funds that are available for distribution each Quarter. There are to be Trustee meetings each Quarter to assess the applications for grants. The trustees have determined that the current priorities for funding are:
assisting charities, organisations or individuals in greatest need of fundraising support, whose objectives or purpose align with Voodoo Park Trust
2.2. The priorities for support will be reviewed by the trustees every year and may be changed depending upon circumstances and the perceived effectiveness of the application of funds. Any change to these priorities must still fulfil the charitable purpose and objectives of the charity.
Principles applied in determining support
In awarding grants, the trustees will apply the following principles;
3.1. The trustees will consider any applications that meet the following criteria:
● Any geographical area
● From organisations whose own objectives and purpose align with Voodoo Park Trust
● Includes a detailed budget of how funds will be applied
● Includes tangible measures for how the beneficial impact will be monitored
● Includes an explicit agreement to provide Voodoo Park Trust with both the right to audit how the funds were utilised, and an agreement to refund the grant in the event the funds are used for any other purpose
● Directors of Voodoo Park Limited and their families are ineligible to apply for a grant
3.2. Each request or situation will be considered on its own merits. Where situations have been previously considered (whether successful or not) any due diligence undertaken to reach an earlier decision will be made available to the trustees.
3.3. The trustees will carry out sufficient due diligence to ensure that the request or situation meets both the charitable purposes, and the priorities for support set out in this policy.
Applicant and partner due diligence
4.1. The trustees will carry out sufficient due diligence on any potential beneficiary to ensure:
● The identity of the beneficiary;
● The financial viability of the beneficiary
● The existence of a detailed budget or plan for the utilisation of the funds
● That funds are applied in accordance with the charity’s charitable purpose;
● That funds are not knowingly used for:
o Money laundering in accordance with the operative Money Laundering regulations;
o Terrorist financing in accordance with the Terrorist Act 2000;
o Bribery in accordance with the 2010 Bribery Act.
4.2. In cases where the charity is not the only supporter of the work or project, and to protect its reputation, the trustees may choose to extend any due diligence beyond the proposed beneficiary and to include other partner supporting organisations.
4.3. The trustees will adopt a risk rated approach to due diligence. Risk factors will include; the size of the grant; the geographical location in which the grant will be applied; the nature of the relationship between the charity and the applicant.
4.4. Grant size will be an important risk factor and the larger the grant the greater will be the likely level of due diligence undertaken.
4.5. Where the proposed beneficiary is well known to the trustees and the relationship has been long standing and well established, the amount of due diligence undertaken is likely to be reduced.
4.6. The results of any due diligence will not last indefinitely. In cases where beneficiaries are supported for a significant period of time, additional due diligence will be undertaken on a change of circumstances that might impact the beneficiary, or in any case after a period of three years.
5.1. For all grants, trustees should be confident:
Of the purpose of the proposed grant including an understanding of the work and the way in which the grant will be managed and applied;
Of the person(s) responsible for the management of the grant and for overseeing the work.
5.3. With the agreement of the charity and the beneficiary, grants will be provided by means of an electronic banking transfer or a cheque. The charity’s normal payment authorisation process will be applied to any payments.
5.4. Where the grant is for a specified project or purpose, and in situations where that purpose does not proceed or where any grant or part thereof remains unused, unused funds must be returned.
5.5. Where formal written applications have been received, or other records maintained, these will be stored and subsequently disposed of in accordance with the charity’s policy on data protection and prevailing Data Protection legislation.
6.1. The decision of the trustees on whether to award a grant is final.
6.2. The trustees are not obliged to provide an explanation to applicants in the event that their application is not successful