A key tenet of our Livery Company is charitable giving. Thanks to generous bequests of earlier Liverymen, the Fruiterers' Company is able to support a wide variety of worthy causes, not just within the fruit industry but also more generally across the wider field of philanthropy.
Due to the size of our endowment, the present financial climate makes it increasingly challenging for us to pursue many of our current activities, or to do justice to future generations of young people in the fruit industry. If we are to fulfil the objectives of the Company it is not good enough to just stand still – hard though even that is at the moment.
We must therefore build on the great tradition of benefaction that goes back to the earliest days of our Company's history. Our success will depend on the support and willingness to help of everyone in the Company. Please consider leaving our charity, the Fruiterers' Foundation, a gift in your will. No matter how large or small your bequest, your generosity will help us to continue our long tradition of charitable work – it’s a tradition of which we should all be rightly proud.
Every gift, large or small, has made a difference and any future donations will be used to support our core objectives.
There are a number of ways that a legacy can be donated and the Company can help in the creation of exactly the right arrangement in a given situation. A gift can be made for a specific purpose or activity, but generally we would encourage Liverymen making a gift to permit the Livery to decide how best to allocate it.
The options open to Liverymen, or indeed anyone, wishing to donate to our charitable funds through their will, are broadly as follows:
a) A Residuary Gift – the remainder of your estate after all payments and other bequests have been fulfilled.
b) A Pecuniary Gift – the gift of a pre-determined sum of money
c) A Specific Gift – the donation of something of value (property, assets, stocks and shares, investments etc)
d) A Reversionary Gift – A gift that the Livery only receives the benefit of upon the death of another beneficiary.
The Fruiterers’ Foundation (the Charity) is a registered charity, which means that gifts to the Charity under your Will attract relief from Inheritance Tax. If you leave more than 10% of your net estate to charity, Inheritance Tax on the remainder is reduced to 36% rather than 40%. The wording and details included below are intended as an illustrative guide only.
Anyone considering making a Will, or making changes to an existing Will, is strongly advised to obtain professional advice.
Some suggested wordings are offered below:
1. Suggested wording for a residuary gift: I GIVE the residue [or ….. percentage of the residue] of my estate to THE FRUITERERS’ FOUNDATION (registered charity no 1170544) for its general charitable purposes and I DECLARE that the receipt of the Clerk or other proper officer of the Fruiterers’ Foundation shall be sufficient discharge to my Executor[s]
2. Suggested wording for a pecuniary gift: I GIVE to THE FRUITERERS’ FOUNDATION (registered charity no 1170544) the sum of £… [please specify words and figures] for its general charitable purposes and I DECLARE that the receipt of the Clerk or other proper officer of the Fruiterers’ Foundation shall be sufficient discharge to my Executor[s]
3. Suggested wording for a Specific Legacy: I GIVE to THE FRUITERERS’ FOUNDATION (registered charity no 1170544) my [please specify specific item or property] for its general charitable purposes and I DECLARE that the receipt of the Clerk or other proper officer of the Fruiterers’ Foundation shall be sufficient discharge to my Executor[s]
If you are considering leaving a bequest to the Fruiterers in your will and would like to talk to either the Master or the Clerk about it, both would be delighted if you would contact them for further information.
Once a bequest has been received, the donor’s name will be engraved on the Jim Stead Bequest Cup (pictured below).
The Jim Stead Bequest Cup
“Pour Encourager Les Autres” is the motto on the Magnificent Silver Cup purchased by the Company, using the bequest from the late Jim Stead, Past Master 1971
His widow Ray, and his family including his son George (Liveryman), participated in the selection of a suitable item in Jim’s memory.
Students of silver will be interested to know that the cup was made by Chrichton & Co in London in 1926.
Bequests made to the Company since 1998 will be recorded by having the names of the donors engraved on the cup.