Byline: RNLI turns shares into life savings
RNLI turns shares into life savings
The Royal National Lifeboat Institution (RNLI) has reported that share donations to the charity are on the rise and have nearly doubled in the last year. £140,000 was generously donated via shares in 2007 to assist the charity in its lifesaving work as more people become aware of the benefits of share giving.
In the last year, more people opted to donate their shares to the RNLI and they are becoming a valuable source of income for the charity. The charity is keen to thank all of the share donors who contributed to the £140,000 sum, which equates to the cost of training for 140 RNLI volunteer crew members or the purchase of an Atlantic 85 lifeboat.
The RNLI uses donations of ordinary shares, gilts, unit trusts and bonds in UK listed companies valued at over £100, which are then sold by the charity with the money going straight towards its rescue services across the UK and Republic of Ireland.
Giving in this way offers several benefits for the donor, including Income Tax relief on the donation, which can be claimed through the annual tax return. Capital Gains Tax (CGT) is also not applicable on shares donated to the RNLI. This exemption may be important if the donor has already reached, or is likely to reach their annual CGT limit.
Rhys Parker of RNLI Corporate Fundraising says:
‘Donating shares is a simple process and it’s fantastic that more and more people are seeing the benefits and are choosing this method of tax effective giving. Large or small, the charity welcomes all donations, which together can make a huge difference to our volunteer lifeboat crew members and lifeguards. It means that we can buy essential equipment and deliver the training that they need to save lives from the beach to the open sea.’
For more information about giving shares contact Rhys Parker on 01202 663285 or e-mail email@example.com.
1: The funds raised through share giving in 2007 equates to the cost of training for 140 RNLI volunteer crew members.
2: The funds raised through share giving in 2007 equates to the purchase of an Atlantic 85 lifeboat.
Notes to editors
For more information please telephone Pamela Saunders in the RNLI Press Office on 01202 663510 or 01202 336789 or email firstname.lastname@example.org.
1. The administration involved in the RNLI transferring and selling a smallholding of shares may outweigh the financial return. If shares are worth under £100 we recommend contacting ShareGift and stating that monies should go towards the RNLI. ShareGift is a registered charity that specialises in administering small amounts of shares. For more information about ShareGift please visit www.sharegift.org.
2. The RNLI is unable to advise on personal tax issues and recommends speaking to a financial advisor or contacting the Inland Revenue: http://www.hmrc.gov.uk/charities
3. The RNLI is a registered charity that continues to rely on voluntary contributions, corporate donations and legacies for income and receives no UK Government funding.
- The RNLI’s annual running costs are over £122M – approximately £335,000 per day.
- There are over 230 RNLI lifeboat stations across the UK and Ireland, which are operated by 4,800 RNLI lifeboat crew members, of which 95 per cent are volunteers.
The RNLI online
For more information on the RNLI please visit www.rnli.org.uk or www.rnli.ie. News releases and other media resources are available at www.rnli.org.uk/press.