Charities Aid Foundation
Encyclopedia
The Charities Aid Foundation (CAF) is a registered UK charity. Its Head Office is located in the King's Hill business park, West Malling
, Kent
with a second office in London on St Andrew Street, EC4A 3AY. CAF provides services and assistance to UK and international charities and their donors, as well as to promote donation to charity generally.
In 2009 CAF had income of £327,987,000 and spent £320,424,000 on charitable spending.
(NCVO).
The Charities Aid Foundation took on its current name and form in 1974 when it was spun off from the NCVO as an independent organisation.
Currently it handles over £1 billion a year and employs more than 500 staff.
: HRH The Prince Philip, Duke of Edinburgh
President
: Sir Brian Garton Jenkins GBE
Chairman: Lord Cairns
, consultancy
, and loans
and grants
As a registered charity it does not seek to provide a profit and aims to reinvest all funds generated back into the charitable sector.
CAF Bank accounts give free day-to-day banking regardless of turnover or balance, and aims to keep charges to a minimum when they are needed. This is different to some UK banks where charities are classed as businesses and have to pay to have an account.
CAF Bank offers a variety of accounts including CAF Cash, a current account
; CAF Gold, a limited-withdrawal savings account
; CAF Platinum, a high interest deposit account requiring notice to withdraw; and CAF Fixed Rate Selector, a fixed rate, fixed-term deposit account provided by Birmingham Midshires
, a division of Bank of Scotland
.
Customers can use online
and telephone
banking to monitor and use their accounts, however some requests require written instructions.
A unique service offered is QuickPay which allows charities to make frequent payments to third parties. Unlike a Direct Debit
, QuickPay allows the transfer of irregular amounts and is intended for paying staff salaries and making payments to suppliers quickly.
A 2007 survey showed that CAF bank accounts, specifically designed for smaller charities, give them better interest rates
than are available to them in the major banks. Their rates have since fallen following the recent financial crisis however the aim is to raise interest rates as soon as practicable.
CAF Bank Limited is authorised and regulated by the Financial Services Authority (register number 204451) and is covered by the Financial Ombudsman Service.
CAF run a Company Advisory Service scheme from their London office which is used to make suggestions to companies about charitable work they can do in conjunction with their CSR (Corporate Social Responsibility) and CCI (Corporate Community Investment) projects. CAF can recommend charities from the UK and internationally that best fit the aims of a company, as well as organising volunteering days for employees.
rules. Donations may be anonymous and, because payments can only be made to genuine registered charities, the account prevents account holders from accidentally donating to bogus charities.
CAF also advises and assists individual donors who wish to set up trusts or to leave a charitable legacy through their will
.
West Malling
West Malling is a historic market town in the Tonbridge and Malling district of Kent, England. It has a population of about 3000-5000.-Landmarks:...
, Kent
Kent
Kent is a county in southeast England, and is one of the home counties. It borders East Sussex, Surrey and Greater London and has a defined boundary with Essex in the middle of the Thames Estuary. The ceremonial county boundaries of Kent include the shire county of Kent and the unitary borough of...
with a second office in London on St Andrew Street, EC4A 3AY. CAF provides services and assistance to UK and international charities and their donors, as well as to promote donation to charity generally.
In 2009 CAF had income of £327,987,000 and spent £320,424,000 on charitable spending.
History
In 1924 the National Council of Social Service set up a Charities Department to encourage efficient giving to charity. This department was later renamed the Charities Aid Fund while the National Council of Social Service became the National Council for Voluntary OrganisationsNational Council for Voluntary Organisations
The National Council for Voluntary Organisations is the umbrella body for the voluntary and community sector in England. NCVO works to support the voluntary and community sector and to create an environment in which an independent civil society can flourish...
(NCVO).
The Charities Aid Foundation took on its current name and form in 1974 when it was spun off from the NCVO as an independent organisation.
Currently it handles over £1 billion a year and employs more than 500 staff.
Key personnel
PatronPatrón
Patrón is a luxury brand of tequila produced in Mexico and sold in hand-blown, individually numbered bottles.Made entirely from Blue Agave "piñas" , Patrón comes in five varieties: Silver, Añejo, Reposado, Gran Patrón Platinum and Gran Patrón Burdeos. Patrón also sells a tequila-coffee blend known...
: HRH The Prince Philip, Duke of Edinburgh
President
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
: Sir Brian Garton Jenkins GBE
Chairman: Lord Cairns
Services to charities
CAF offers many services to charities in the UK and abroad, including help with fund raising, insuranceInsurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
, consultancy
Consultant
A consultant is a professional who provides professional or expert advice in a particular area such as management, accountancy, the environment, entertainment, technology, law , human resources, marketing, emergency management, food production, medicine, finance, life management, economics, public...
, and loans
Loan
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....
and grants
Grant (money)
Grants are funds disbursed by one party , often a Government Department, Corporation, Foundation or Trust, to a recipient, often a nonprofit entity, educational institution, business or an individual. In order to receive a grant, some form of "Grant Writing" often referred to as either a proposal...
As a registered charity it does not seek to provide a profit and aims to reinvest all funds generated back into the charitable sector.
CAF Bank
CAF owns and operates CAF Bank which offers banking services to UK charities. It aims to provide a better solution to charities than "high street banks" by tailoring services to charities unique needs.CAF Bank accounts give free day-to-day banking regardless of turnover or balance, and aims to keep charges to a minimum when they are needed. This is different to some UK banks where charities are classed as businesses and have to pay to have an account.
CAF Bank offers a variety of accounts including CAF Cash, a current account
Current account
In economics, the current account is one of the two primary components of the balance of payments, the other being the capital account. The current account is the sum of the balance of trade , net factor income and net transfer payments .The current account balance is one of two major...
; CAF Gold, a limited-withdrawal savings account
Savings account
Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...
; CAF Platinum, a high interest deposit account requiring notice to withdraw; and CAF Fixed Rate Selector, a fixed rate, fixed-term deposit account provided by Birmingham Midshires
Birmingham Midshires
Birmingham Midshires is a commercial bank in the United Kingdom, a division of Bank of Scotland plc . It is headquartered at Pendeford Business Park, Wolverhampton, England and has 67 offices throughout England...
, a division of Bank of Scotland
Bank of Scotland
The Bank of Scotland plc is a commercial and clearing bank based in Edinburgh, Scotland. With a history dating to the 17th century, it is the second oldest surviving bank in what is now the United Kingdom, and is the only commercial institution created by the Parliament of Scotland to...
.
Customers can use online
Online banking
Online banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.-Features:...
and telephone
Telephone banking
Telephone banking is a service provided by a financial institution, which allows its customers to perform transactions over the telephone.Most telephone banking services use an automated phone answering system with phone keypad response or voice recognition capability...
banking to monitor and use their accounts, however some requests require written instructions.
A unique service offered is QuickPay which allows charities to make frequent payments to third parties. Unlike a Direct Debit
Direct debit
A direct debit or direct withdrawal is an instruction that a bank account holder gives to his or her bank to collect an amount directly from another account. It is similar to a direct deposit but initiated by the beneficiary...
, QuickPay allows the transfer of irregular amounts and is intended for paying staff salaries and making payments to suppliers quickly.
A 2007 survey showed that CAF bank accounts, specifically designed for smaller charities, give them better interest rates
Interest rate
An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. For example, a small company borrows capital from a bank to buy new assets for their business, and in return the lender receives interest at a predetermined interest rate for...
than are available to them in the major banks. Their rates have since fallen following the recent financial crisis however the aim is to raise interest rates as soon as practicable.
CAF Bank Limited is authorised and regulated by the Financial Services Authority (register number 204451) and is covered by the Financial Ombudsman Service.
Services to corporate donors
CAF operates the Give As You Earn scheme. It advises companies on their charitable donations and assists them to donate in the most tax efficient manner.CAF run a Company Advisory Service scheme from their London office which is used to make suggestions to companies about charitable work they can do in conjunction with their CSR (Corporate Social Responsibility) and CCI (Corporate Community Investment) projects. CAF can recommend charities from the UK and internationally that best fit the aims of a company, as well as organising volunteering days for employees.
Services to individual donors
CAF operates a Charity Account scheme which allows account holders to donate to charities using vouchers, by phone and on-line. Donations are eligible for tax relief under the Gift AidGift Aid
Gift Aid is a UK tax incentive that enables tax-effective giving by individuals to charities in the United Kingdom. Gift Aid was originally introduced in Finance Act 1990 for donation from 1 October 1990, but was originally limited to cash gifts of £600 or more...
rules. Donations may be anonymous and, because payments can only be made to genuine registered charities, the account prevents account holders from accidentally donating to bogus charities.
CAF also advises and assists individual donors who wish to set up trusts or to leave a charitable legacy through their will
Will (law)
A will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his/her estate and provides for the transfer of his/her property at death...
.