Terms and Conditions - Stewardship America
1. About Us
7.3 US Tax Relief
7.7 Account Users
7.9 Dormant Accounts
7.10 Expression of Wishes
Stewardship America is the operating name of Stewardship American Donor Fund UK Limited, a registered charity in England & Wales no. 1180678, and a registered company in England & Wales no. 11532453. Stewardship American Donor Fund UK Limited is a wholly owned subsidiary of Stewardship American Donor Fund US, Inc, a US 501(c)(3) public charity with Employer Identification Number (EIN) 83-2161455.
Our registered office and main operating address is:
1 Lamb’s Passage,
If you have any questions or comments with regards to the information on this page, please get in touch with the Philanthropy Services team on 020 8418 8896 or by email to [email protected]
This page contains the terms and conditions applicable to Givers who open a Giving Account with Stewardship America. By opening a Giving Account with us, you agree to and undertake to comply with the obligations set out in these terms and conditions.
If there is a difference between a provision in these terms and conditions and any information in our website, application forms, brochures or any other documents or terms relevant to or in respect of your relationship with Stewardship America, the provision in these terms and conditions is the one that shall apply.
For your own benefit and protection, we would recommend that you carefully read these pages. We also recommend that you print and keep this page in a safe place, as you may wish to refer to it in the future; although you can access this at any time on our website.
If there is anything that you do not fully understand, please ask for further information or seek professional advice or guidance.
- Stewardship America runs a donor advised fund, which is a type of charitable giving vehicle which makes it tax-effective and easy to give. As such, all funds Gifted by you into a Giving Account are Stewardship America’s and become part of our charitable funds. You can make requests to make Grants to Recipients. Funds that have been Gifted to Stewardship America are irrevocable, outright Gifts from you to us and cannot be returned to you.
- All Grants paid from your Giving Account to Recipients are made at the discretion of Stewardship America’s trustees. Stewardship America reserves the right to not make a Grant to a particular Recipient. These situations are rare but as a Christian charity an example would be that we cannot give to a charity advancing another faith.
- As Stewardship America is a registered charity, neither a Giver nor any of their close relatives can derive any benefit from any Gifts or any income deriving from the Gifts that have been received by Stewardship America.
- Stewardship America will be able to deduct from your Giving Account all costs and expenses that it incurs in connection with the operation and administration of your Giving Account. Information in relation to these costs can be found at stewardship.org.uk/america and may be subject to change.
- Stewardship America may (at its discretion) invest any amounts Gifted into a Giving Account and awaiting distribution. Any resulting investment income (by way of capital growth or investment returns) shall belong to Stewardship America and form part of its general charitable funds.
- If you are eligible, to enable us to reclaim UK tax on your charitable giving, you will need to complete a Stewardship America Gift Aid declaration. The UK tax reclaimed will then be added to your account. On request, we will also provide you with a receipt for US tax purposes.
Prior to making a Gift, please make sure to review our privacy notice which is available at stewardship.org.uk/america.
- Stewardship America may act upon requests and information that it believes in good faith have been made by you (or an Authorised User).
- Stewardship America may provide general guidance about charitable giving for information purposes only. We do not offer tax, legal or investment advice and you are encouraged to seek advice from a qualified professional on your specific situation.
- Each of us agree to submit to the exclusive jurisdiction of the courts of England and Wales in relation to any action, proceeding, claim, dispute or difference arising out of your Giving Account or otherwise in connection with your Giving Account.
- As well as our charges, we may be required to deduct amounts from your Giving Account which may be required to be paid to HMRC for any reason in relation to your Giving Account (including, without limitation, costs caused by any breaches of any requirements, including the ‘donor benefits rules’, which apply to Gift Aid).
- Anonymous: Givers can ask to remain anonymous when making a Grant to a Recipient which means we will not provide Giver details to the Recipient.
- Available funds: The balance on a Giving Account with Stewardship America is referred to as available funds i.e. the net of cleared Gifts in less Grants paid out.
- Eligibility of Recipients: We need to determine whether the work of a Recipient e.g. church or charity continues to be eligible under UK and US rules to receive Grants from us. We do this at the outset when a Recipient completes an application and at other times to verify their continued eligibility.
- Gift: An irrevocable, outright gift of money or other financial assets by a Giver to Stewardship America. Gifts are made into the Giver's Giving Account. Once made, a Gift to Stewardship America forms part of our charitable funds and cannot be returned to the Giver.
- Gift Aid declaration: Where a Giver is eligible and has completed a Gift Aid declaration, we reclaim UK tax on their Gifts from HMRC under the Gift Aid scheme.
- Giver: A giver (also known as donor) is an individual or organisation who makes a Gift to Stewardship America.
- Giving Account: Givers are provided with a Giving Account to help manage their giving.
- Grant: When a Giver’s request to support a Recipient is approved, a payment is made by Stewardship America to the Recipient’s bank account. We call this payment a grant.
- HMRC: HM Revenue & Customs.
- Linked Gifts: When a Giver makes a Gift into their account, they can ask us to automatically Grant the Gift and the Gift Aid to a Recipient. This is referred to as a linked gift.
- Recipient: Those receiving Grants from Stewardship America (as funded from Gifts from Givers) are called Recipients. Examples are a charity or a church.
- Reclaimed UK tax: This is the UK tax reclaimed from HMRC under the Gift Aid scheme.
- Users: a) Primary user - An individual who sets up a Giving Account with us is the Primary User (or account holder) of that account. b) Authorised user(s) - A person(s) (not the Primary user) who has been authorised to help manage a Giving Account.
Our Giving Account is the ultimate way to organise your giving in a simple, convenient way.
You can put money into your Giving Account at any time. The Gift will be credited to the balance of your Giving Account as soon as cleared funds have been received in Stewardship America’s bank account. When you make a Gift into your account, you can request that a Grant is made to a Recipient, with or without any reclaimed UK tax, as soon as the Gift has cleared. Adding the Gift Aid to the Grant is called a Linked Gift.
Special US and UK tax reliefs are available for Gifts to charity of shares and securities. Shares Gifted to Stewardship America will usually be sold promptly and the funds will be credited to your Giving Account. However, Stewardship America has discretion to retain shares in asset form where there is reason to do so. Where your Giving Account includes non-cash assets previously Gifted to Stewardship America, it remains your responsibility to ensure that there are sufficient cash funds in the account to meet any Grant requests that you may make from time to time. Please contact us if you would like to discuss one of these types of Gift.
What is Gift Aid?
Gift Aid is a UK tax relief for those who pay income and/or capital gains tax, designed to benefit charities. Gift Aid increases the value of cash gifts into your Giving Account by the basic rate of UK income tax because as a registered charity, we can reclaim the basic rate of UK tax on your eligible cash Gifts.
Who is Eligible for Gift Aid?
If you have paid enough UK tax on your personal income and gains to cover the amount we are due to reclaim, you may be eligible for tax relief on your Gifts under the Gift Aid scheme. The reclaimed UK tax is then added to your Giving Account.
The Gift Aid Declaration
In order for us to reclaim UK tax on your giving, you will need to complete a Gift Aid declaration with us to confirm that you have paid sufficient tax for us to reclaim. This can be done when you open the account or at a later date. Gift Aid can only be claimed on Gifts made by you as an individual and will require you to have paid sufficient UK tax. By completing the declaration, it is important that you understand you are agreeing to the following:
- You want to Gift Aid any Gifts you make to Stewardship America in the future (or in the past 4 years, if requested).
- You are a UK tax payer and have paid enough Income Tax and/or Capital Gains Tax in any one tax year to cover the amount reclaimed on your giving to Stewardship America and to any other organisations that may be making Gift Aid claims on your behalf in that year.
- You are Gifting your own money and confirm that the funds have not come from anyone else, including family members, nor from a collection or on behalf of a corporate body. Your Gifts should be based only on the UK tax paid by you personally.
- The money you are Gifting is not the proceeds from sales of goods or services (e.g. cake sale, auction, car wash), nor from the sale of tickets.
- You are not receiving anything in return for making Gifts to Stewardship America, e.g. an entry ticket to an event or a raffle ticket.
- You must keep Stewardship America updated with your current address to ensure that Gift Aid claims are valid.
- If you pay less UK income tax and/or capital gains tax than the amount of Gift Aid claimed on all your Gifts in that tax year, it is your responsibility to pay any difference back to HMRC.
If you complete a Gift Aid declaration, we will automatically reclaim UK tax on all Gifts into your account unless you specifically tell us otherwise. If your circumstances change (e.g. you retire and no longer pay enough UK tax to cover the Gift Aid on your charitable giving) and Stewardship America should not claim Gift Aid on your behalf, it is your responsibility to let us know. You can cancel your declaration at any time – just let us know.
How Our Gift Aid Claims Work
The reclaimed UK tax (less our administration fee) will be credited to your Giving Account once we receive it from HMRC and, if applicable, Granted to your chosen Recipient.
- Gift Aid is always claimed at the basic rate of UK tax, however if you pay UK tax at the higher or additional rate, you can claim additional relief on your Gift Aid Gifts directly from HMRC. You need to contact HMRC to reclaim this tax.
- Please note that once a Gift has been made, we will not usually be able to adjust the tax status of the Gift. However in exceptional circumstances, or where we have made an error, this may be possible.
- Under HMRC rules we are unable to reclaim tax if the Gift is on behalf of a group, company or another individual other than the Giving Account holder.
On request, we will provide you with a receipt for your Gift. You can use this to claim US tax relief on your Gift (if relevant).
We are able to support the majority of UK and US churches and charities, as well as many overseas charities.
Who Can I Make Grants To?
Broadly, we can support most general charitable purposes recognised both in the UK and in the US, but because we are a Christian charity, we are not able to support charitable activities that oppose the Christian faith or advance another faith.
If we have not made a Grant to a particular Recipient before, we will need to determine their eligibility under UK and US rules by sending them a Recipient application form. We will follow a thorough eligibility process to check this out for you. As a result this may take a few weeks, particularly if the Recipient is outside of the UK.
How To Request Grants
You can request Grants from your account as and when you choose. You can contact us by phone, email or letter with the details of the Grant and the Recipient you want to support.
Depending on how you manage your giving, you can request that your Gift into the Giving Account, and the Gift Aid, are linked to the Grant from your Giving Account. This means that the Gift Aid will automatically be Granted to your chosen Recipient(s) proportionately. Alternatively, the reclaimed UK tax can simply be added to your account balance, ready for future Grant requests.
If you do not wish us to provide Recipients with your name and contact details when your Grant is arranged, you can request Grants to be anonymous.
- Available Funds / Balance: Sufficient funds need to be held in your Giving Account for Stewardship America to process a Grant.
- Donations For a Specific Purpose: Grants to charitable organisations will normally be applied to their general funds, however you may request that your Grant is allocated for a specific purpose by specifying an area of work, or providing a specific reference to this effect.
- Timing: If we haven’t made a Grant to a Recipient before, or for several years, we will check they are eligible to receive funds from us. This can sometimes mean that the Grant you have asked for is delayed.
- Large Donations: We may need to undertake extra due diligence checks in relation to the Recipient and the purpose of the Grant. Stewardship America must follow protective legislation to ensure that Gifts in and Grants out are checked which means that on some occasions, there may be a delay. Where there is a long delay or we are unable to arrange your Grant, we will always keep you updated.
Why we charge a fee
We deduct a charge from your Giving Account for administering your giving. This covers our costs and to help us continue our charitable objectives. Our Trustees Annual Report and accounts are available each year on our website and provide up to date information on all of Stewardship America’s activities. In the event that we make a surplus from any of our charitable activities, this will always be put back into our charitable work and to further our charitable objectives.
How much we charge
Information about our current charges structure can be found at stewardship.org.uk/america, and is subject to change. Where we incur additional costs, perhaps for processing unusual or exceptional transactions, we may deduct a further one-off charge to pay for this, but we will always discuss this with you before making any deduction from your Giving Account balance.
You can write to us by email or letter, or contact us by phone, where we will go through our security procedures before discussing account details.
We can send statements at any time upon request. Your statement will include a summary of your giving, which can be particularly helpful if you are a higher or additional rate UK tax payer and complete a Self Assessment tax return.
Our affiliate Stewardship Services (UKET) Limited produces a magazine called ‘Share’ a few times a year, which includes information and inspirational articles on generosity and giving. This will be sent you automatically but if you don’t want to receive it, just let us know by phone, email or post.
Publicity and Announcements
If the Recipient you are supporting would like to make any public announcements in relation to your Gift or Giving Account, for example, the naming of a building, please let us know in advance so we can make sure that this is done in a way that complies with our legal obligations and our internal policies and procedures.
An individual who sets up a Giving Account with us is the Primary User (or account holder) of that account. Where Gift Aid is applicable to a Gift, it will always be claimed in the name of the Primary User, therefore all Gifts into the account must be from the original account holder who (if relevant) signed the Gift Aid declaration.
We offer the ability for you to add other person(s) as an Authorised User on your account if you would like. This does not make it a joint account, but the other user(s) will be able to arrange Gifts and Grants, make changes and discuss details with us. To add an Authorised User, please contact us. To keep your information secure, only Primary Users and Authorised Users will be able to discuss the account with the Philanthropy Services team.
How Do I Close My Account?
You are free to close your account at any time - simply let us know. If there is a balance in the account please make sure this is Granted out before you would like to close the account.
What Happens to My Balance?
Because the funds in your account have been Gifted to us charitably, they form part of our charitable funds. As such, they cannot be returned to you and will need to be Granted to registered Recipient(s) or, alternatively, they may be applied generally for Stewardship America’s charitable purposes.
Other Reasons For Account Closure
What happens if you stop using your account?
After six months of inactivity, your Giving Account will be classified as “dormant” and we will attempt to get in touch with you to remind you about your account.
What happens if we cannot get in touch with you?
If your account remains inactive after six months, we will make further attempts to get in contact with you. If we are unsuccessful, we may need to close your account. After a period of seven years from your most recent transaction, if we are unsuccessful in making contact and we cannot determine your wishes, we will apply the funds for charitable purposes (which may include our general funds). For clarity, any deduction of our fees, costs, contributions or expenses will not be considered to be a Grant from a Giving Account for these purposes. We will always do what we can to stay in touch with you. Please keep us updated with your current contact details.
If you would like, you can provide us with details as to how you would like us to Grant any funds remaining in your account in the event of your death. This includes nominating a successor to continue Grant requests. You can do this by contacting us. If no Expression of Wishes has been left at the date of your death, the funds in your Giving Account will be Granted by Stewardship America, usually in line with your previous giving but ultimately at the discretion of Stewardship America’s trustees for charitable purposes.