A to Z of funding (T)


Third sector

Voluntary organisations, community groups and other non-profit organisations are sometimes called the third sector because they are not part of the public sector or part of the private sector. They phrase is sometimes used instead of the voluntary sector because people think 'voluntary sector' is misleading; it implies that the sector is only about volunteers.

Third Sector is also the name of a magazine targeted at voluntary organisations.

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Transparency is about openness with information, being able to see how something works. The opposite of 'transparent' decision-making is decision making 'behind closed doors'.

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Charity trustees are the (unpaid) group of people responsible for the running of a charity. They may be called a Management Committee or Board of Directors or something else. The charity may be an incorporated body or an unincorporated one.

Holding trustees or custodian trustees are people who 'hold' something (property or land, for instance) 'in trust' for others. This is necessary if an unincorporated association has property or land or investments because an unincorporated organisation isn't recognised in law as a legal entity. So individuals or a corporate body have to hold the property or land or investments on behalf of the group. The only function of these trustees is to hold whatever it is; holding trustees are not responsible for the running of the organisation.

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In the world of funding, 'trusts' is often shorthand for charitable trusts. Trusts don't have to be charitable, though. They are just a legal way of ensuring that some people (the trustees) control money or resources provided by the founder in a way that benefits someone else. Only charitable trusts can be set up to last forever. .

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