The foundation was established by the school's board of directors in the autumn of 2003. Its purpose is to provide financial support to the school by holding and managing major assets and directing its income to support the school program.
This "dual-charity" structure is fairly common now in the charitable sector where organizations like Regent Park School of Music are supported by a dedicated foundation (which is itself a registered charity for tax purposes) while the primary charity, in this case the school itself, delivers its programs and services in the community.
The RPSM Foundation provides two substantial benefits to the school. First, because the foundation is a separate corporate entity, the foundation can hold assets, such as endowment funds or a building, and shield those assets should there ever be a legal claim against the school arising from an accident or some other cause. Should such an unlikely event occur, these important¬İfoundation assets could continue to provide support¬İto the school.
Second, the dual structure gives donors, especially those who have made long-term endowments, the confidence that a separate board of directors is focused specifically on managing the major assets. The current board of directors will be familiar to many school supporters. In addition to yours truly, its members are Alan Forde, Catherine Gregor, Judith Hinchman, Ian McBride and Jo Tomsett-Jones.
In practical terms, the fundraising program, events, and donor communications will continue to be undertaken by the school staff, the board of directors, and our many dedicated volunteers, with most donations going directly to support the day-to-day operations of the school. From time to time, however, in discussion with a donor, it may be suggested that a gift be made to the foundation if the donor's intention is for the gift to be held in perpetuity to fund a scholarship or equipment fund. In every case, the Benefits to the students and donor will be clearly explained and the donor will decide on the direction of their gift.
Thank you all for your continued support of the school.
Graham F. Hallward,
President of the RPSM Foundation.
“The dual structure gives donors…...the confidence that a separate board of directors is focused specifically on managing the major assets.”