More recently the links between entrepreneurship and philanthropy have grown stronger with many inspiring illustrations which combine the two. Hands-on, active involvement has proved to motivate and enthuse many individuals.
There are a number of different options to drive a philanthropic strategy forward and ILS World has found the entrepreneurs we work with fuse together many different combinations including social impact investing, donating a percentage of the sale of a particular item to support a named cause as well as those who establish trusts and foundations.
ILS World has been advising private clients for more than 30 years and has a great deal of experience in establishing trusts and foundations in key jurisdictions. Trusts may be established as stand-alone solutions or as part of a larger structure. Our comprehensive service includes helping to draft the trust deed, providing a corporate or individual trustee, establishing related corporate structures, maintaining trust accounts, arranging banking facilities and administration. Where necessary we liaise with specialist lawyers to ensure our drafting is bespoke and precise.
The private client team also establish and administer foundations in a number of jurisdictions. They are a robust and popular vehicle for philanthropic purposes and our foundation services include planning and structuring the foundation, preparing the foundation charter, providing council members and where appropriate we can act as registered agent together with establishing bank accounts, administration and accounting.
Whichever philanthropic structure is favoured the team also assists with obtaining charitable status if appropriate.
As philanthropy is driven by an individual's passion, values and concerns solutions are bespoke and the ILS World structuring team is practiced in partnering and working in collaboration with external accredited experts and acknowledged industry professionals to ensure we provide our clients with the best service.
Our services include:
• Establishing and administering a philanthropic structure
• Acting as a registered agent
• Acting as a trustee
• Providing council members
• Liaising with co-founders to achieve a consistent mission and message
• Liaising with external advisers and auditors
• Obtaining charitable status
• Maintaining financial accounts
• Attending meetings
• Communicating with regulators as and when required
Our private client team has produced an article on philanthropy click here to read more.