Reaching Out Charity Newsletter - April 2017

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Apr. 2017 | Issue No. 6

A Kusuma Trust & PJI Foundation Charity Newsletter

GIFTS THAT GIVE BACK! Local Businesses Give Back!

ÂŁ 20,000 d! raise d!

In December, Kusuma Trust Gibraltar and The PJI Foundation launched an exciting new charitable giving initiative which saw 18 popular local businesses commit to making a charitable donation to the value of a percentage of sales for that month. Over the last few weeks, the final donations through the initiative have been collected and our team are extremely pleased to announce that a grand total of ÂŁ20,000 has been raised, largely in the form of stock goods and vouchers, which has been distributed between 9 hardworking local charities. We would like to thank all of the philanthropic businesses that participated in the initiative, as well as, of course, the local shoppers who visited these establishments over the Christmas period and supported the campaign.


A Spotlight on

The PJI Foundation In order to commemorate and celebrate the life of the firm’s former Senior Partner, the Hon Peter J Isola OBE, who passed away on the 28th January 2006, members of ISOLAS’ law firm decided to set up The PJI Foundation, which is registered in Gibraltar as a Charitable Trust. The main object of the Foundation is to support local charities and worthwhile causes. The firm itself has already contributed substantial funds to the Foundation, and the firm’s staff are constantly engaging in fundraising activities to generate additional resources for the Foundation. This year, in time for ISOLAS’ 125th anniversary, The PJI Foundation will be launching a new website and setting out exciting plans to give more support to important community programmes. The Foundation has, since its creation, donated funds to a number of local charities with the help of work done by Fiduciary and ISOLAS staff. Events carried out to help raise funds include cycling marathons, bake sales and raffles. Staff have also participated in a range of events organised by other charities, such as the Relay for Life, organised by Cancer Research UK - Gibraltar Branch. Throughout the year, the Foundation assesses appeals for funding and makes contributions to a range of deserving local organisations and initiatives. Recently, for example, The PJI Foundation, together with Sapphire Networks

2nd Apr

and Europort International Holdings, collected and donated £16,104 to the Gibraltar Alzheimer’s and Dementia Society, sponsoring a hairdressing salon and three reminiscence rooms at the new Dementia Day Care Centre; a much-needed facility which will support people living with Dementia in the community, as well as their families and friends. The staff at ISOLAS and Fiduciary also pioneered a payroll giving scheme, which has been taken up by a number of other local firms, whereby the salary department make an automatic £2 donation (or more for those who so wish) from subscribing staff members’ salaries on a monthly basis. This year’s contributions will go towards The Calpe House Charitable Trust to help them in setting up a new Calpe House at a much larger facility. Independent of this, ISOLAS has also committed to providing £30,000 to the Calpe House Trust to support their mission and go some way towards funding the major development they are undertaking to provide 38 ensuite bedrooms and a large communal area to accommodate the ever-increasing number of sponsored patients travelling to London for medical treatment. And, of course, The PJI Foundation, together with Kusuma Trust Gibraltar, are the wonderful sponsors of our Reaching Out newsletter and the Gifts that Give Back initiative. Visit The PJI Foundation’s new website at: www.pjisolafoundation.gi

21st Apr

22nd Apr

Triple A

Super Family Fun Day at Casemates

Bosom Buddies Artistic Fashion Show

Walk to the Top of the Rock in aid of Cancer Research UK


Fin ancial Spring Cleaning With spring in the air and the new financial year just around the corner, it’s a great time for your charity to think about their financial strategy and management - it’s not as scary as it sounds! A financial strategy is essentially a plan which sets out what money you will need and where it will come from.

FINANCIAL MANAGEMENT Keep it simple and proportionate if you are a small charity you do not need to reinvent the wheel or have an overcomplicated system, however, the basics should include: • A basic spreadsheet to monitor income versus expenditure • Bank reconciliation once a month • A good filing and reference system so that all documents can be easily retrieved Try to have at least a couple of people in the organisation who can do the accounts to ensure that any errors can be easily identified, and to decrease the risk of fraud. As part of your strategy, make sure there is a plan for building reserves. Reserves are money put aside to mitigate risk to the sustainability of your charity. This can sometimes be a tricky issue for charities which have to balance between too much and too little. There is no right answer but you should identify what you think is proportionate for your charity.

13th May

Clubhouse Yellow Walk & Fun Day

THE 3 KEY BENEFITS OF A GOOD FINANCIAL STRATEGY

1 2 3

Public trust and confidence in how you use funds Efficient use of funds to deliver quality services Ensuring your charity can survive any risk

Whilst larger charities will often have an accounts department to deal with the incomings and outgoings of the charity’s finance, in smaller charities the finances are usually left to the Trustees or volunteer staff; the ultimate legal responsibility resting with the Trustee. This is a great reason to make sure that at least one of the Trustees has a good background in finance.

10th June Calentita Festival

TRANSPARENCY Your organisation should know when the annual statutory accounts need to be produced. Accounts should be filed in good time, with the aim being that your financial report is clearly linked to the activity carried out by your charity, illustrating the impact your charity is having on its users. This shouldn’t just be about legalities; it’s important for the public to know how funds donated are being used. A sound financial strategy will also reassure donors that you are a ‘safe investment’ and that their donation will be used wisely and to good effect. Finally, you can use the following online resources to help you: www.charity-commission.gov.uk www.knowhownonprofit.org www.cass.city.ac.uk/research-andfaculty/centres/cce You can also contact Kusuma Trust Gibraltar at info@kusumatrust.gi to find out what resources they can offer to support your charity.

11th Aug Gibraltar Alzheimer’s & Dementia Society Flag Day


GIFTS THAT GIVE BACK! A big thank you to all our participating local businesses! Find out more on our Facebook and Twitter pages...

Netgear

The Toy Box

Marble Arc

U-mee & Europort Marks & Spencer

Express Convenience Stores

SM Seruya

Next

Vijay

F&F

Eroski

Isolabella

Digital Corner

Top Choice Appliances

The Cellar

L Sacarello

Music Corner

Kaycee

You can find out more about our Gifts that Give Back initiative by visiting our Facebook and Twitter pages. Just search Reaching Out Gibraltar and follow us to keep up to date on local charity affairs!


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