The Lotus Flower is a restricted fund under the auspices of Prism the Gift Fund registered charity number 1099682. Prism the Gift Fund acts as the ‘parent’ charity to The Lotus Flower. There are around 100 collective funds like us under Prism the Gift Fund.
Prism the Gift Fund provide us with financial and administration support which means we can focus on implementing our projects in a transparent and cost-effective manner.
Prism the Gift Fund provides the following services:
- Structure (being a “restricted fund” under Prism means that The Lotus Flower can immediately benefit from Gift Aid on donations)
- Due diligence on operations and grant-making
- Financial administration
Prism the Gift Fund does charge a % overhead o5n donations received into The Lotus Flower account to cover all overheads and ensure all activities of The Lotus Flower to comply with UK charitable law. The % overhead for all of The Lotus Flower’s finance, governance and compliance functions as an organisation is 5%, capped at £25,000 per year. This is incredibly competitive as an overhead rate. Use of Prism the Gift Fund’s existing charitable structure keeps overheads low by outsourcing compliance, finance and governance functions across over a collective of 100 charitable funds, ensuring that the maximum overhead of any fund such as The Lotus Flower’s is 5% - increasing the funds available to run projects.
The Lotus Flower’s structure and relationship with Prism means that our Inspected Annual Accounts and Annual Reports are incorporated within Prism’s, since they are the registered charity with the U.K. Charity Commission.
In short – this structure is a cost-effective, regulated relationship, which allows us to focus on our projects.
The Lotus Flower is a Limited Company by Guarantee, Company Number 10039687. This means all profits in non-charitable fundraising efforts are reinvested back into charitable projects.