For the year ended 30 September 2022
For the year ended 30 September 2022
The main source of income for the Caretech Foundation is the annual donation gifted by its founding company, Caretech Holdings Limited. Over the past year, there has been emphasis for the Foundation to diversify their income stream to ensure sustainability of the Foundation in its delivery of public benefit.
In line with the Foundation’s Income Diversification Strategy, we secured places in a number of fundraising challenge events, including the Vitality 10k Run, the Welsh Dragon Ride and Swim Serpentine. These places were made available to Caretech employees and external stakeholders with the purpose that all donations would go towards the Foundation’s grants. Due to the passing of Queen Elizabeth II in September, the Swim Serpentine event was postponed to 2023 because of the state funeral.
As set out above, the Championing Social Care initiative has proved a popular vehicle by which to secure external support for its activities, boosting the overall income of the Foundation. It should be noted that all Championing Social Care income is restricted solely to its activities and is managed accordingly within our financial handling arrangements.
The Foundation did not collaborate with any professional fundraisers or commercial participators to carry out any activities.
In developing its fundraising efforts, the Foundation has sought to apply the best practice standards of The Code of Fundraising Practice issued by the Fundraising Regulator.
In recognition of the planned growth in its fundraising efforts, the Foundation is registered with the Fundraising Regulator and ensures that all fundraising efforts comply with current regulations and best practice set out by regulators and professional membership bodies. The Foundation continues to share codes of best practice with supporters and relevant partners to ensure these standards are applied across all activities.
To date, we are not aware of any breach of The Code of Fundraising Practice. Due to the nature of delivering fundraising across multiple sites through volunteer effort, the Foundation is aware that there is a risk of breaching fundraising compliances. The Foundation has undertaken a thorough review of its policies to ensure they are fit for purpose for its extended fundraising efforts.
Fundraising activities for the Foundation are available to Caretech employees as well as external shareholders. All information relating to fundraising challenges are promoted on the Foundation’s website with links to the official website to ensure transparency. Fundraising agreements are shared with interested participants at the earliest possible time. The Foundation understands that, due to inexperience in fundraising for charities, some of our supporters may require additional training and support. These services are offered to fundraisers once they enter into agreement with the Foundation.
All fundraising donations are processed through the Virgin Money Giving website, which allows the Foundation to monitor fundraising efforts. The Foundation actively communicates with supporters and engages on their social media to encourage transparency.
The Foundation has a Complaints Policy that outlines how complaints should be dealt with within the charity and when the complaints should be escalated to senior management. The Complaints Policy is available on the Foundation’s website at www.caretechfoundation.org.uk/complaints/. The Foundation has taken active steps to ensuring the Policy is shared at the earliest opportunity with the fundraising agreements for individuals undertaking fundraising challenges. The Caretech Foundation has received no complaints with regard to fundraising over the past 12 months.
The Foundation engages with those in vulnerable positions as part of their day-to-day activities. The Foundation has a Safeguarding Policy in place and a nominated Safeguarding Trustee as part of its efforts to protect vulnerable people. To ensure our vulnerable supporters are able to undertake safe and effective fundraising, the Foundation has completed a review of its Safeguarding Policy in this financial year. The nature of the work undertaken by the Foundation ensures all employees are comfortable recognising and working with those in vulnerable positions.