Funding & Donations
TAAF has in the past raised money for its awards from many different sources: DFID, Gatsby Charitable Foundation, NR Iinternational, consultancy firms, personal donations and TAA itself.
For the past five years TAAF has operated with a budget of £10-15,000 per year, which has enabled us to make 1-3 long term awards and 7-10 MSc awards per year. The funds for these awards have come primarily from TAA (£3,000 per year) and from individual members’ donations (averaging £8,500 per year over the last 3 years). For details of the overall TAA accounts, which include TAAF, please click here Please Donate to help TAAF expand
With the crisis in food production and the challenge of coping with climate change which now face the world and developing countries in particular, there is both an urgent need to increase the number of people in the UK with practical experience of international natural resource development, and a growing demand from new graduates in relevant disciplines to work in this field.
A TAAF award advertising campaign has been mounted at relevant universities and colleges to spread knowledge of the award fund and to stimulate the appropriate number of applications. We are continually seeking funds from bilateral and multilateral donors, foundations, agribusiness firms, education trusts, philanthropic institutions and private individuals, to supplement TAAF’s limited resources.
Leaving a Legacy
We are particularly keen to encourage retired members of TAA to consider bequeathing legacies to TAAF in their wills, to ensure a continuing supply of young professionals with the experience needed to maintain the pre-eminence of UK institutions and individuals in the development field.
Interested donors are invited to contact the TAA Treasurer,TAAF Chairman or Secretary for further information or you can simply click here and donate on line, ticking Gift Aid if you are a UK taxpayer.
Guidance Notes for leaving a legacy to TAAF in your will :
– If you leave a legacy to a charity in your will, its value will be deducted from your estate before Inheritance Tax is calculated.
– You can either leave a fixed amount (a “Pecuniary Legacy”) or the residue of your estate once other legacies have been distributed (a ”Residuary Legacy”)
– If you leave more than 10% of your estate to charity, the Inheritance Tax levied on the rest of your estate may be reduced (from 40% to 36%)
– You can either include the legacy in your will, or add a codicil to your will if you already have one, or make a declaration to your executors giving instruction as to how your legacy should be distributed (in this case to TAA for the use of TAAF)
– Many UK charities have guidance for making a will and templates for adding a codicil to a will on their websites. One of the clearest is Age UK
– HM Revenue & Customs also set out the rules regarding legacies to charities on its website.
– If in doubt it is advisable to consult a solicitor. The Law Society website is helpful.