The International Bankers Charitable Trust is constituted under a Trust Deed dated 28 June 2001 (as amended by deed dated 29 February 2008) and is a registered charity with the Charity Commission for Englad and Wales (No.1087630).
The main objectives of the Trust are to promote charitable works that reflect the aims and purposes of the Worshipful Company of International Bankers (WCIB). within those aims a particular focus is to positively impact underprivileged young people in London through:
- Financial literacy
- Raising their aspirations
In order to carry out its charitable programme, the Trust raises funds primarily through:
- Annual donations from the Membership of the Worshipful Company of International Bankers, which have to date raised the majority of funds for the Trust.
- A number of on-going social events hosted by the WCIB in support of the Charitable Trust.
- In 2013 the Company hosted its first major fundraiser, a gala dinner that raised £20,000 in support of an Ark-MyBnk project teaching financial literacy in schools. The gala dinner was held again in 2015 and raised £50,000 in support of an Ark-MyBnk social enterprise project. The Company is planning another major fundraising gala dinner for the summer of 2021.
- The Trust has reserves of approximately £1 million on which it earns interest and dividends which also are used to fund grants.
- The Trust invites its members to provide legacies for the IBCT in their wills. The company is in process of organising a programme to formally recognise those members who have done so. We welcome any Member who wishes to discuss legacies and ask them to kindly contact the Clerk in this regard.
- Members’ donations qualify for matched giving by many employers. The Trust appreciates Members initiating conversations to offer them and should any questions arise, are kindly asked to refer them to the Clerk.
Since its formation in 2003 the Trust has distributed more than £1.4 million to over 100 causes.
An overview of the grants we have awarded can be seen in the chart below. The annual report and accounts can be seen here on the Charity Commission website