The think tank New Philanthropy Capital has proposed a scheme that would allow charities to receive legacy income sooner and donors to see the impact of their gifts during their lifetimes.
A feasibility study into accelerated legacies published yesterday, suggests charities could access legacy gifts as soon as they were pledged through a loan scheme.
The report concludes: “The UK legacy sector requires new innovations and, now more than ever, charities require more funding. With the right approach and accompanying information, the accelerated legacy plan could be an innovative new way to help the sector gain extra income, invest in preventative services and support those in need.”
It would also allow charities and the donors to claim Gift Aid on donations, which is not possible with traditional legacies.
Our Director of Fundraising, Robin Meltzer commented “We are very encouraged by this idea and look forward to NPC developing it further. I have had several conversations over the years with supporters who make the point that it is a shame they will never be able to see the impact of the donations they are planning to leave in their wills. To be able to respond to such regrets with a positive scheme that would allow supporters to see how their donations are being put to good use would be a great addition to our fundraising toolkit and we look forward to seeing more details.”
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