Pretty sure the GPF has been drained over the last few years, so not much to invest. Used to be over a mil in there I think. Certainly not anymore!
If we have the money then lets spend it…
However, many cadets contributed to that money - bet very few got to benefit from what it was spent on
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There are specific charity fund managers who would look at investing ethically and conservatively to try and grow within the remit. There would be some stuff I recommend but I’m not your financial adviser so I won’t!
My investment managers deal with mine but it’s my money not money given for the benefit of others.
Local authorities invest money they hold all the time. When done sensibly it can help deliver services, when done badly you get situations like Thurrock Council.
There’s nothing wrong with a fund manager investing charitable funds provided it’s within their remit and within the risk appetite of those who are responsible for the funds.
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I think that graph is income and expenditure, rather than actual cash held.
Yes - sorry full balance sheet & accounts are here - look like just under 3 million in the account.
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The GPFund is nothing to do with civilian funds. That’s kinda the point.
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There is currently no intention to abolish or significantly change Squadron or Wing Committees or the Regional Councils as there is still a need and purpose for these important support structures. There are also no plans to sequestrate squadron funds.
I’m glad this has been made clear this time, rather than lots of people (me included!) reading between the lines thinking Sqn CWCs were going to be essentially banned, and funds moved to Wing.
I find a few things here very interesting though. Firstly, this is proper acknowledgement that the RAFAC/MOD and the GPF are (or were) massively intertwined, and essentially the same thing. In fact that document goes as far as to admit the there were CS members working on GPF charity matters. All of this, yet any FOI made to HQAC regarding the GPF has almost always been dismissed as the GPF is a ‘completely separate organisation’.
Secondly, I like the sound of the GPF restructure towards ‘The Air Cadet Charity’. I do question however if we will still be paying subs to said charity. If they want to break and become independent, then paying subs seems silly. It would seem silly to be sending subs to a charity whilst simultaneously applying to them for a grant.
Thirdly, and this is more of an open/rhetorical question; If the aim is to create separation between the RAFAAC, and it’s charities, with HQAC/the RAFAC still be imposing rules/regulations/policy etc on CWCs, as they are now? They are either separate, or they are not.
Fourthly (??) why am I once again only seeing this via ACC, and not on Sharepoint or email etc. In fact even searching for this document on Sharepoint brings up no results.
Lastly, and this one is for you @pEp; How does one upload a document direct to the forums that people can then download?!
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So we’re going the sea cadet Corps charity route.
How long before we move away from RAF in the same way.
Nope, must be a mod thing, or maybe because I don’t have a registered account within the drive?
Not to derail the thread but no idea. Must be a mod privilege!
So much this.
Surely as an independent charity they can’t?
Does this not get impractical at a squadron level. Do I have to apply for a grant for printer paper? As an independent charity, does providing a RAFAC squadron with printer paper really achieve the charities aims? Can the charity run its own activities?
Who pays for the ‘charity’ infrastructure such as CEO, finance director, HR functions etc, does it come from cadets subs? Who has oversight and regulatory accountability?
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Well, ultimately the charity will. And the charity commission will have oversight, and trustees will have accountability like every other charity.
In fact I’d say moving it away from the RAF and employing a manager is one of the better decisions they’ve made both from a governance and regulatory position and from a beneficiary position.
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Good to see some forward thinking and modern changes. I wonder how they’re securing new trustees, and whether experience of the RAFAC is on their list of criteria. Shame CFAVs can’t be trustees(?)
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There are multiple types of charities. Some come with that above cost, some don’t.
Reading through the update, it appears as though the Air Cadet Charity will have a Trust structure. If that happens, those costs will be very minimal.
It’s also possible that they go down the Social Enterprise route (CIO or CIC, likely the latter) so that they can “raise funds by trading” - the trading in this instance likely to be subs payments. This will have higher costs as the staffing levels will need to be higher; but probably no higher really that what exists now.
Given what senior RAF officers tend to be like, the costs will likely be lower due to fewer biscuits being consumed…