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Status
Received: on time
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Income
£4.1K
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Spending
£15.9K
Public benefits
The objects for which the Trust was established is the provision of housing and any associated amenities for retired, widowed, orphaned or infirm persons in necessitous circumstances upon terms appropriate to their means. In furtherance of these objects the Trust has the power to undertake this work as an integral part of the work of the Church of
Ireland in Northern Ireland Retired clergy or clergy widows live in a tied property and must provide for their own accommodation needs when their employment terminates. Stipends are still paid at a rate which leads to significant difficulty for clergy families to provide for their retirement housing needs particularly so if retirement comes early through ill health. The Trust assists applicants to bridge the gap between their limited means and the cost of a suitable retirement property. The charitable purpose is therefore the prevention and/or relief of poverty by reason of age, ill health or disadvantage. The public benefit is the section of the public ( clergy and clergy dependents ) who are assisted with their accommodation needs when faced with homelessness on terms appropriate to their needs.
... [more] [less]What your organisation does
The Trust joins with applicants in assisting them to purchase a suitable retirement property on terms appropriate to their means. It achieves this outcome by taking an equity stake in the property representing a percentage of the purchase price. The Trust maintains its interest in the property for the duration of the time the applicant(s) live in
the property as their primary and sole accommodation. During the term of occupancy applicants must comply with the conditions placed on them by means of a Trust Deed which sets out the percentage owned by each party and the standard conditions ( not to alter, maintain insurance etc ). The Trust Deed sets out the options to repay the Trust when the property is no longer being used for the intended purpose, normally upon death or moving into nursing care. At this point the property is then sold and the proceeds divided according to the equity stake held by each party. The Trust is then in a position to recycle funds to assist in future situations.
... [more] [less]The charity’s classifications
- The prevention or relief of poverty
- The relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage
Who the charity helps
- Older people
- Parents
How the charity works
- Accommodation/housing
- Relief of poverty
