Registered Charity No. 281187
For such charitable purposes for the general benefit of the inhabitants of the area of the ancient parish of Horspath as the advisors think fit – meaning only residents living in and organisations operating entirely within the parish of Horspath, Oxfordshire, may benefit from any of the income of the charity.
2. The trustee of the charity is Horspath Parish Council made up of elected councillors assisted by up to 5 independent advisors at any given time with the Chairman of the Parish Council acting as Chairman. The quorum for any meeting shall be set at four persons of which at least two are independent advisors.
3. With two exceptions:
i) the purchase of freehold property or capital, or building works, either to be approved by majority vote in an open Parish Meeting, OR
the advisors may allocate a maximum of only 4.5% of the nett annual income in any one year to any one recipient village organisation, or 0.45% of the nett annual income to any one individual resident of Horspath, OR
ii) the lending of any amount upon any terms determined by the Trustee (including but not limited to the charging of interest or not and the term of any loan) secured by way of legal charge against freehold property where the advisors determine that this is in the best interests of the Charity.
4. Applications from individuals may only be granted for musical, artistic, education & training (but excluding general tuition fees), general environmental, cultural, sporting excellence or exceptional opportunity purposes (excluding general membership and subscription fees) and for care in the community for the elderly and disabled. It may be insisted that any such grants are paid to a relevant third party supplier.
In making grants to individuals, priority will be given to those which will be of benefit to the whole community in Horspath.
5. All grants for third parties shall require a clear majority vote. Any casting vote of the Chairman shall always be used to refuse an application. Cheques will be raised solely by the Parish Clerk and will require two signatures. All grants shall be minuted by the Parish Clerk quarterly, minutes to be approved one month later and displayed on the public noticeboard adjacent to the minutes of the Parish Council with the ongoing financial statement.
6. Under no circumstances can any benefit be offered to any government or local government structure in an attempt to reduce normal taxation.
7. The Trustee may allocate and disburse no more than 90% of the annual income from the Horspath Stone Pit in any year, the remaining 10% to accumulate as a reserve capital fund.
8. All applications for grants are to be submitted in writing on the appropriate application form. Proof of residence by way of an electoral role number (or that of the head of the household if the applicant is aged under 18) a recent bank statement or utility bill shall be deemed sufficient proof of residence.
9. Applications for grants shall be considered by the advisors on a quarterly basis commencing in June 2015.
10. The Councillors and independent advisors will be informed at the start of the meeting the total value of village organization applications and the total value of individual applications together with the accumulative balance of funds available.
11. The councillors and advisors must treat applications fairly and must not discriminate against any organisation or individual, providing sufficient funds are available to meet all the requests at any given time.
12. In the event that there is insufficient funding, the value of the grants awarded will be scaled back in equal proportion.