The Regimental Charity
All remaining Devon and Dorset Regimental Funds are held within the Regimental Charities and managed by the Regimental Trustees. There are two D and D Regimental Charities. Their purposes are clearly stated in a document called the Trust Deed and, like every British charity they are available for public scrutiny on the Charity Commission Website which also shows information such as the annual accounts.
The main Regimental Charity is No. 1054968, and The Regimental Association Charity is No.1054963. In the past there was also a Regimental Benevolence Charity, but welfare responsibility was transferred to The Rifles on its formation in 2007. All past members of the Devonshire and Dorset Regiment and its antecedents who require welfare support are now covered by the new Rifles Benevolence Charity.
- Gen Sir John Wilsey GCB CBE DL (Chairman)
- Maj Gen B H Dutton CB CBE
- Maj Gen C T Shortis CB CBE
- Brig R H D Toomey CBE
- Brig S D Young CBE
- Lt Col W M Sharpe MBE
- Maj C L Pape MBE DL
- Capt J M Archer
- Lt Col G S Nicholls (Clerk)
There is a wealth of experience among the Trustees, and they represent all parts of the Regiment.
Income for the Charities comes from four sources:
- Investment income - The Charities have approximately £650,000 invested (see below) and this provided approx £20,000 investment income during the year.
- Gift aid tax refunds - All donations to the Charities are liable to tax refund. This provides in the region of £3,500 annually.
- The Reunion Lottery - Providing up to £2,800 income each year to the Regimental Association charity.
- Individual gifts - The Regiment is sometimes given donations or left money in individuals’ wills. This amounted to approximately £5,000 last year.
Expenditure from the Charities covers a number of regular annual grants, such as:
- The Newsletter - £7,500
- Grant to the Keep Museum - £6,000
- The Reunion - £1,500
- Postage & Printing - £1,500
- Insurance - £1,500
- Regimental Chapel Upkeep - £500
- Regimental Chapel Flowers - £500
- Audit Fees - £700
- Fovant Badges - £600
- Remembrance Day Wreaths - £300
- Mere Parade - £100
In addition, Trustees have made a one-off grant to The Exeter Cathedral Millennium Campaign - £10,000 over 5 years (one payment still outstanding). The grant was made in the recognition of the fact that Exeter Cathedral contains two of our Regimental Chapels.
Overall income roughly covers expenditure, but in the event that it does not, there has to be a drawdown on investments. Trustees try to avoid this if possible because, of course, a smaller amount of capital inevitably leads to a reduction in investment income.
Most Regimental Funds remain invested alongside The Rifles funds with Schroders. During the worldwide financial difficulties of last year the ‘paper’ value of the investments dropped by approximately a third, but have now bounced back to only just below where they were before the ‘crash’ of 2008. More importantly, the future of broad-based investments such as those held seems to be as bright as any investments and most financial experts believe that the investment strategy being employed by Schroders on our behalf is the best for organisations wishing to maintain long-term investments and a small annual income. The Regimental Association has most of its funds invested in an organisation called the CCLA which is the leading charity fund manager in the UK.
The Keep Museum owns a great deal of what used to be Regimental property including silver, paintings and other artefacts. Much of it is on display for all to see. Most of the remainder is retained by 1 RIFLES as the successor to 1 D and D, with a few items held by other Rifles battalions.
Some items not required elsewhere are held in the Exeter Office store and are the subject of the Regimental Property Sale which has been widely advertised. The aim of the exercise will be to have the absolute minimum of Regimental property unused, unseen in stores and having to be accounted for, but still being retained by members of the Regiment. The majority of the archives relating to the Devon and Dorsets have been transferred to the Keep Museum.
(Revised 29 May 12)