The St Bede’s College Foundation Incorporated is a registered Charitable Trust under The Charities Act 2005. Its primary purposes are making grants and providing finance, buildings and facilities to the College. It was originally set up by the, now, Board of Proprietors and Board of Trustees to provide financial assistance for the College and is in fact operated now by a separate Board of Trustees which is answerable to the Board of Proprietors. It was established in 1978 and it has been a significant benefactor to the College. In the period since its founding it has contributed a little over $1.8m by way of direct grants and a further $1.5m in loans to the College to assist in a range of projects.
The present day facilities owe much to the Foundation and to the various friends of the College who have given generously to enable the Foundation to build its reserves. These donations have been prudently managed and dispersed to assist a range of major capital works and minor projects.
There is now a pressing need to replenish the Foundation’s funds to meet the future needs of the College as it upgrades its buildings and facilities.
In the past the Foundation and the College have benefited from a number of generous bequests from old boys and also from friends of the College. This brochure details the process for including the Foundation in a will and provides advice on the appropriate wording for bequests.
Securing the Future
In the period since the College integrated, receiving for the first time in the College’s history state funding, the Boards of Proprietors and Trustees have worked to upgrade or build facilities to meet the needs of students.
Since 2002 parents of students have contributed significantly to these various projects by way of a building levy. Specifically these donations have funded the Performing Arts Centre and the new gymnasium.
The Board of Proprietors has identified seven major capital works projects that need to be completed by 2020. Given that the expected life of Durham, the remnant wing of the old main building, is 10 years some of these are short term in nature while others need to proceed as funds permit. In each instance these improvements will enhance the day to day life of students and teachers. In summary these projects are as follows:
• Extending Jarrow to accommodate Y13 boarding students.
• Completion of the gymnasium.
• Extension to Jarrow to accommodate Y9 and Y10 boarders.
• Refurbishment of Grimes subsequent to the building of new facilities.
The Foundation fully supports this long term plan and is prepared to commit funds to support each. However it needs to replenish its reserves and build its consolidated funds and seeks the support of the Bedean community to secure the College’s future.
Wills and Bequests
Legacy donations through wills and bequests have been significant funders of the College’s major capital works since its establishment on the current site in 1921.
This information can help members of the Bedean community support the Board as they work to secure the College’s future.
A will is a legal document that can help ensure and safeguard the future of the people, and the causes that are important to them.
It records exactly how assets and possessions are to be distributed after death.
A bequest, or legacy, is a gift in a person’s will. It is a thoughtful way of supporting the College and the Foundation without impacting on a person’s own financial needs or those of their family during a life time.
The Foundation strongly recommends that donors seek the advice of a lawyer, the Public Trust Office or a trustee company when drafting a new will or a codicil to an existing will. They will give the professional help necessary to ensure donors’ wishes are fully met.
Bequests – Specific Targets
Please contact the Foundation if you would like advice on targeting your bequest. Also please tell the Foundation of your plans so that it may show its appreciation.
How to Make a Bequest to St Bede’s College
If you do not have a will the suggested wording below will help your solicitor to incorporate the bequest clause in your planned will.
If you do have a will the suggested wording below will help your solicitor to prepare a codicil to reflect any changes you would like to make.
The following is a suggested wording for your bequest to the St Bede’s College Foundation:
“I give and bequeath to the Trustees of the St Bede’s College Foundation Incorporated the sum of $ OR 1/4, 1/2, other share in the residue of my estate for the general charitable purposes of the Foundation AND I EXPRESS the wish but without intending to create a legally binding trust in that regard that the benefit hereby given be applied principally towards (specific purpose i.e. scholarship funding, building development, other)
Advising the Foundation
If you have made provision in your will for St Bede’s College or if you are planning to make a bequest it would help future planning if you were able to advise the Foundation or the Development Office. We would like to thank you personally for your generosity and keep you up to date with happenings at the College.