With the end of the tax year fast approaching (as if you needed reminding), now might be the time for companies to start reviewing their charitable giving strategy. How can they ensure that donations are both tax-efficient and impactful? By giving with MK Community Foundation businesses can build a true partnership – meet CSR objectives, enhance PR, and receive valuable feedback on projects they support.
MK Community Foundation supporter and VP Steve Hutchings looks at how businesses can make the most of their giving.
Can you tell us a bit about your involvement with MK Community Foundation?
I moved to Milton Keynes in 2006. When I first heard about MK Community Foundation, I knew I wanted to get involved. Soon after, I hosted a dinner to raise awareness for some local high-net-worth individuals, helping them understand the foundation’s impact in the area. And my involvement has only deepened since then.
How can supporting a community foundation cut down on the due diligence before working with a charity?
I think a lot of organisations don’t do very much due diligence before selecting a charity. They tend to pick a ‘charity of the year’ without assessing its sustainability, how funds are used, or the long-term impact of donations. That’s one of the key things about MK Community Foundation – it takes away all that work from the individual. It has the expertise to ensure donations reach both large and small charities that genuinely need support in our area.
What are the benefits of setting up a fund?
I can speak from personal experience there. I set up a fund with MK Community Foundation to support disadvantaged children and young people in education. At least once a year – and more if I want – I meet with a fund manager and get detailed reports on where my money has gone, what projects it’s funded, and the impact it’s had.
That’s what matters to me. I don’t want to give money facelessly – I want to know how it’s making a difference. Now is also an excellent time to establish a fund, as matching opportunities are available for those setting up endowments. This means that businesses or individuals could potentially put in, say, £12,500 and see it grow to £25,000 straight away.
How can businesses maximise the impact of their end-of-tax-year giving?
Charitable giving can take a lot of time and effort – research, administration and tracking where the money goes. It can be a few days of work for someone. MK Community Foundation manages everything, from vetting charities to reporting on impact, allowing businesses to focus on their core work or even volunteering. And the business membership programme offers the chance to work with the foundation and give in a structured way that resonates with your business’s values.
For businesses keen to explore giving back to the community in Milton Keynes, MK Community Foundation offers lots of ways to maximise the benefits to an organisation – while directly supporting local people and projects. Donate by March 31 to take advantage of the tax benefits for this tax year.
To learn more and have an informal conversation, contact Philanthropy Director Jake Geelan at jake.geelan@mkcommunityfoundation.co.uk or the MK Community Foundation website here.
