King Charles III Charitable Fund

Last updated

King Charles III Charitable Fund (KCCF), formerly known as The Prince of Wales's Charitable Fund, is a United Kingdom-based charity fund. It provides grants to charity organisations in the United Kingdom and internationally. Grantee organisations vary in focus but fall under the umbrella of one of the fund's designated funding themes.

Contents

The fund was founded by King Charles III, then Prince of Wales, in 1979. At King Charles III's accession, the fund adopted its new name.

Overview

The fund is primarily a grant-making organisation, running both large and small grants programs. The Trustees oversee all grant-making, and award grants across the following funding themes:

By early 2023, the charity had donated £73 million to different causes since its establishment in 1979. [1] In January 2023, it was announced that seven charities would receive £1.95 million from KCCF over three years. [1]

Trustees

Subsidiaries

Accounting for Sustainability (A4S)

Accounting for Sustainability (A4S) encourages the responsible business community to recognize the benefits of considering the environment and wider society as part of their day-to-day business decisions and establish a global framework for integrated corporate reporting. It has three main aims, inspire finance leaders, transform financial decision-making, and scale up action, to transition into a sustainable economy. A4S gained charitable status in 2021. [2]

The Royal Countryside Fund (RCF)

The Royal Countryside Fund works towards creating a sustainable future for the UK countryside. It supports family farmers and rural communities through grant making and training programmes, such as the Farm Resilience Programme, which provides free business skills training to family farmers. Over the past decade, the PCF has invested more than £10 million in over 400 projects, helping to empower rural communities across the UK. [3]

The Fund is also active in helping new entrants into farming and rural enterprise, and aims to provide young people with the skills they need to ensure that the countryside remains a living, breathing place for farmers in the future.

Duchy Originals Ltd

Duchy Originals Ltd is a wholly owned subsidiary of the Foundation. It was set up as a company by the then Prince of Wales in 1990, and is one of the largest organic food brands in the UK. Duchy Originals focuses on good food, good farming and good causes in a 'virtuous circle'. The Duchy Organics range is sold exclusively through Waitrose. [4] Each year, the royalties from the range are donated to PWCF and distributed to not-for-profit organisations through grants programmes. In 2019, Duchy Originals donated £3.4 million to PWCF. [5]

The Prince of Wales's Foundation Romania

The Prince of Wales's Foundation Romania continues to work with partners to deliver architectural, heritage preservation, farming and sustainable development projects across Romania. [6]

Donations

Vardanyan donations

In 2007, Prince Charles personally intervened to stop the sale of Dumfries House, which was about to be sold for £45 million. [7] While he raised some of the money required through other charities, a major element of the financial package was a £20 million loan backed by The Prince's Charities Foundation. A plan was developed to have the estate become a self-sufficient enterprise. [7] The project was to be achieved through donation and sponsorship of various renovation projects around the estate, as well as through revenues from the construction of an 'eco-village' in the grounds, a planned community called Knockroon. [7] In 2008, the advent of the global financial crisis had a major impact on the project, affecting the prospects for the Knockroon development and thus the recouping of the £20 million loan. [7]

To get out of the financial hole, the foundation managed to raise £5 million from private donors, including Ruben Vardanyan, a Russian banker from Armenia. [7] Vardanyan's charities stated that both he and his wife were approached in 2013 to gather a group of sponsors that could help with funding the renovation of a run-down farm building near the estate's west entrance and turning it into an upmarket guest house. [7] One wing of the guest house would have 16 luxury guest rooms and the project was funded by donors, some of whom were wealthy associates of Vardanyan. [7] He also led the investment bank Troika Dialog that managed a network of 70 offshore companies moving billions out of Russia, details of which were exposed through the Organised Crime and Corruption Reporting Project. [8] In 2009, 2010, and 2011 the Prince's Charities Foundation received $100,000, $41,000, and $61,000 respectively via the now-defunct bank Ūkio bankas in Lithuania to help restore Dumfries House. [8] The payments were from a company called Quantus Division Ltd, which was itself part of the network of aforementioned offshore companies. [8]

Vardanyan responded to the incident by stating that while he served as chief executive, he was also a private client of Troika Dialog and any donations to the Prince's Charities Foundation were from his personal funds. [8] Clarence House insisted that Prince Charles was not directly involved in the foundation's operations around fundraising. [8] A spokesman for The Prince of Wales's Charitable Foundation and The Dumfries House Trust stated the charities had applied robust due diligence processes and no red flags arose at the time. [8]

Qatari donations

In June 2022, The Times reported that between 2011 and 2015 King Charles accepted €3 million in cash from the Prime Minister of Qatar, Hamad bin Jassim bin Jaber Al Thani. [9] The funds were said to be in the form of €500 notes, handed over in person in three tranches, in a suitcase, holdall and Fortnum & Mason carrier bags. [9] [10] Charles' meetings with Al Thani did not appear in the Court Circular. [9] Coutts collected the cash and each payment was deposited into the accounts of The Prince of Wales's Charitable Fund. Fawcett's salary in this fund was 95,000 GBP per annum. [10] A Clarence House spokesperson stated that the appropriate covenants were carried out, and it was the "donor's choice" to make the donations in cash, after which the trustees "discussed the governance and donor relationship" and the auditors "signed off on the donation after a specific inquiry during the audit". [10] There is no evidence that the payments were illegal or that it was not intended for the money to go to the charity. [10] The Charity Commission announced they would review the information and determine if "there is any role for the Commission in this matter". [11] In July 2022, the Charity Commission announced that they would not be launching an investigation into the donations as the information submitted had provided "sufficient assurance" that due diligence had taken place. [12]

Bin Laden family donations

In July 2022, The Times reported that in 2013 The Prince of Wales's Charitable Fund had received a donation of £1 million from Bakr bin Laden and Shafiq bin Laden, both half-brothers of Osama bin Laden, the founder of militant organization al-Qaeda that was responsible for the September 11 attacks who had been disowned by his family. [13] [14] Charles was reportedly introduced to Bakr bin Laden in June 2000 at an exhibition in London, and he was present at a banquet during Charles's visit to Riyadh. [14] The two met about two weeks after the September 11 attacks at a dinner organised months earlier by the Oxford Centre for Islamic Studies, one of Charles's patronages that has links to the Bin Laden family, to discuss the Islamic faith. [14] Charles is said to have held a private meeting with Bakr bin Laden at Clarence House on 30 October 2013. [15] The Prince of Wales's Charitable Fund responded by stating that "the decision to accept the donation was taken wholly by the trustees", and "due diligence was conducted, with information sought from a wide range of sources, including government". [16] The Charity Commission described the decision to accept donations as a "matter for trustees" and added that based on the available information no investigation was required. [16]

See also

Related Research Articles

<span class="mw-page-title-main">Charles III</span> King of the United Kingdom since 2022

Charles III is King of the United Kingdom and the 14 other Commonwealth realms.

<span class="mw-page-title-main">Charitable trust</span> Irrevocable trust established for charitable purposes

A charitable trust is an irrevocable trust established for charitable purposes. In some jurisdictions, it is a more specific term than "charitable organization". A charitable trust enjoys varying degrees of tax benefits in most countries and also generates goodwill. Some important terminology in charitable trusts includes the term "corpus", referring to the assets with which the trust is funded, and the term "donor," which is the person donating assets to a charity.

<span class="mw-page-title-main">David Sainsbury, Baron Sainsbury of Turville</span> British politician, businessman and philanthropist

David John Sainsbury, Baron Sainsbury of Turville is a British politician, businessman and philanthropist. From 1992 to 1997, he served as chairman of Sainsbury's, the supermarket chain established by his great-grandfather John James Sainsbury in 1869.

<span class="mw-page-title-main">Duchy of Cornwall</span> Royal duchy in England

The Duchy of Cornwall is one of two royal duchies in England, the other being the Duchy of Lancaster. The eldest son of the reigning British monarch obtains possession of the duchy and the title of Duke of Cornwall at birth or when his parent succeeds to the throne, but may not sell assets for personal benefit and has limited rights and income while a minor.

<span class="mw-page-title-main">Jacob Rothschild, 4th Baron Rothschild</span> English peer, investment banker and philanthropist (1936–2024)

Nathaniel Charles Jacob Rothschild, 4th Baron Rothschild,, was a British peer, investment banker and member of the Rothschild banking family. Rothschild held important roles in business and British public life, and was active in charitable and philanthropic areas.

<span class="mw-page-title-main">Charitable organization</span> Nonprofit organization with charitable purpose

A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being.

In the United States, a donor-advised fund is a charitable giving vehicle administered by a public charity created to manage charitable donations on behalf of organizations, families, or individuals. To participate in a donor-advised fund, a donating individual or organization opens an account in the fund and deposits cash, securities, or other financial instruments. They surrender ownership of anything they put in the fund, but retain advisory privileges over how their account is invested, and how it distributes money to charities.

The King's Foundation is an educational charity established in 1986 by King Charles III to teach and demonstrate in practice those principles of traditional urban design and architecture which put people and the communities of which they are part at the centre of the design process.

Sentebale is a registered charity founded in 2006 by Prince Harry and Prince Seeiso of Lesotho. Sentebale helps children and adolescents struggling to come to terms with their HIV and AIDS diagnosis. It provides a safe environment for them to address their mental health among their peers, giving them tools and knowledge.

<span class="mw-page-title-main">Michael Hintze, Baron Hintze</span> British-Australian businessman, philanthropist and Conservative Party patron (born 1953)

Michael Hintze, Baron Hintze, is an Australian-British businessman and philanthropist, based in the United Kingdom.

<span class="mw-page-title-main">Dumfries House</span> Palladian country house in Ayrshire, Scotland

Dumfries House is a Palladian country house in Ayrshire, Scotland. It is located within a large estate, around two miles (3 km) west of Cumnock. Noted for being one of the few such houses with much of its original 18th-century furniture still present, including specially commissioned Thomas Chippendale pieces, the house and estate is now owned by The King's Foundation, a charity which maintains it as a visitor attraction and hospitality and wedding venue. Both the house and the gardens are listed as significant aspects of Scottish heritage.

Waitrose Duchy Organic is a brand of organic food sold in Waitrose stores in the United Kingdom. The brand is a partnership between Waitrose and Duchy Originals Limited, a company set up in 1990 by King Charles III when he was Prince of Wales and Duke of Cornwall. The Duchy Originals company is named after the Duchy of Cornwall estates that are held in trust by the Duke of Cornwall, who often holds the title Prince of Wales.

<span class="mw-page-title-main">The Prince's Charities</span> King Charles charitable organisations

The Prince's Charities is a non-profit organisation that has associations with King Charles III. The Prince's Charities, supported by The Prince's Charities Foundation, is based in the United Kingdom and comprises 19 organisations of which Charles is patron or president, 18 of which were founded personally by him. The name derives from Charles's status as the Prince of Wales before his accession on 8 September 2022.

<span class="mw-page-title-main">Hamad bin Jassim bin Jaber Al Thani</span> Prime minister of Qatar (2007–2013)

Sheikh Hamad bin Jassim bin Jaber bin Mohammed bin Thani Al Thani, who was also known informally by his initials HBJ, is a Qatari politician. He was the Prime Minister of Qatar from 3 April 2007 to 26 June 2013, and foreign minister from 11 January 1992 to 26 June 2013.

<span class="mw-page-title-main">Wikimedia Foundation</span> American charitable organization

The Wikimedia Foundation, Inc., abbreviated WMF, is an American 501(c)(3) nonprofit organization headquartered in San Francisco, California, and registered there as a charitable foundation. It is the host of Wikipedia, the seventh most visited website in the world. It also hosts fourteen related open collaboration projects, and supports the development of MediaWiki, the wiki software that underpins them all. The Foundation was established in 2003 in St. Petersburg, Florida by Jimmy Wales, as a non-profit way to fund these wiki projects. They had previously been hosted by Bomis, Wales's for-profit company.

Knockroon is a planned development located between the towns of Cumnock and Auchinleck in East Ayrshire, Scotland. The development was initiated by Prince Charles as part of his renovation plans for the nearby Dumfries House estate, which he hoped would regenerate the local economy in this depressed area. East Ayrshire Council granted outline planning permission for 770 houses on 7 December 2009.

Donors Trust is an American nonprofit donor-advised fund. It was founded in 1999 with the goal of "safeguarding the intent of libertarian and conservative donors". As a donor advised fund, Donors Trust is not legally required to disclose the identity of its donors, and most of its donors remain anonymous. It distributes funds to various conservative and libertarian organizations, and has been characterized as the "dark money ATM" of the political right.

<span class="mw-page-title-main">National Christian Foundation</span> Organization

National Christian Foundation (NCF) is a US non-profit organization that assists donors in donating to charitable causes. NCF accepts non-cash assets and is the nation's largest provider of donor-advised funds focused primarily on Christian donors. Since 1982, NCF has granted over $14.5 billion to causes and charities.

David Ellis Brownlow, Baron Brownlow of Shurlock Row, DL is a British entrepreneur, Conservative Party donor, philanthropist and life peer. He sits as a member of the House of Lords and served as Vice-Chairman of the Conservative Party from July 2017 until July 2020.

<span class="mw-page-title-main">Mahfouz Marei Mubarak bin Mahfouz</span> Saudi businessman

Mahfouz Marei Mubarak bin Mahfouz is a Saudi Arabian businessman living in the United Kingdom. Mahfouz is the executive officer of Saudi-based Marei bin Mahfouz Group, founded by his father Sheikh Marei Mubarak Mahfouz bin Mahfouz who is one of the richest men in Saudi Arabia. He is the current Lord of Abernethy in the Baronage of Scotland.

References

  1. 1 2 "King's Charity to donate £1.95M to good causes". The Wildlife Trust. 31 January 2023. Retrieved 31 January 2023.
  2. ↑ "A4S aims". Accounting for Sustainability accountingforsustainability.org. Retrieved 2021-10-04.
  3. ↑ "Our impact". The Prince's Countryside Fund. Retrieved 2021-10-04.
  4. ↑ "Waitrose & Partners". Waitrose.com. Retrieved 2021-10-04.
  5. ↑ The Prince of Wales's Charitable Foundation Trustees' Report and Consolidated Statutory Accounts for the Year Ended 31st March 2020, p. 14.
  6. ↑ "Our subsidiaries". The Prince of Wales's Charitable Fund. Retrieved 2021-10-04.
  7. 1 2 3 4 5 6 7 Verity, Andy; Oliver, James; Melley, James (4 March 2019). "The Prince of Wales, the oligarch and the stately home". BBC News. Retrieved 6 February 2023.
  8. 1 2 3 4 5 6 Verity, Andy; Oliver, James; Melley, James (4 March 2019). "Prince Charles charity link to Russian offshore network". BBC News. Retrieved 6 February 2023.
  9. 1 2 3 "Prince Charles accepted €1m cash in a suitcase from sheikh". The Times . Retrieved 25 June 2022.
  10. 1 2 3 4 "Prince Charles is said to have been given €3m in Qatari cash". The Guardian . 25 June 2022. Retrieved 25 June 2022.
  11. ↑ "Prince Charles: Charity watchdog reviewing information over reports royal accepted carrier bag full of cash as a charity donation from Qatar ex-PM". Sky News. 27 June 2022. Retrieved 27 June 2022.
  12. ↑ Coughlan, Sean (20 July 2022). "Prince Charles: No inquiry into £2.5m cash donation to his charity". BBC. Retrieved 21 July 2022.
  13. ↑ Pogrund, Gabriel; Keidan, Charles (30 July 2022). "Prince Charles accepted £1m from family of Osama bin Laden". The Times. Retrieved 30 July 2022.
  14. 1 2 3 "Prince Charles dined with Bin Laden's brother". The Guardian. 13 October 2001. Retrieved 30 July 2022.
  15. ↑ "Prince Charles accepted £1m from family of Osama bin Laden, report claims". The Guardian . 30 July 2022. Retrieved 30 July 2022.
  16. 1 2 Furness, Hannah (1 August 2022). "Prince Charles's charity won't be investigated for accepting bin Laden family £1m donation". The Telegraph. Retrieved 1 August 2022.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.