A to Z of funding (T)

T


Targets

Something specific you work towards achieving, often used in the workplace to measure and monitor progress.

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Tax relief

There are a number of tax relief schemes which can reduce the tax bill for people who have to pay income tax. Schemes such as gift aid and payroll giving have the added benefit of providing income tax relief to encourage donations to charities. Unlike the tax-free allowances, these schemes don't provide tax-free income to the individual, but they reduce the amount of tax the person is liable to pay because no tax is paid on the portion of income which is donated to charity.

For further information, including help sheets and detailed guidance about how the tax system operates for charities, please visit the HM Revenue and Customs Charities website.

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Tendering

The practice of offering contracts for services via a bidding process. See commissioning, procurement and contracts.

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Terms and conditions

The phrase 'terms and conditions' is used about employment and refers to the things covered in a contract (of employment) - things like hours of work, salary and holiday entitlement.

Funders can attach formal 'terms and conditions' to the offer of a grant. If you don't comply with the terms and conditions, the grant may be withdrawn. Further information on terms and conditions in the funding environment can be found in the Critical Conditions report, launched by DSC under the Great Giving Campaign.

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They Work For You website

www.theyworkforyou.com is a charity run website hosting Q and As between members of the public and members of parliament.

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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. This 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.

The term 'Third Sector' was increasingly used by central government. They established the Office of the Third Sector in May 2006. However, this has since been replaced by the Office for Civil Society (May 2010) and the phrase appears to be being replaced by 'civil society' within central government.

Third Sector is also the name of a magazine targeted at voluntary organisations and social enterprises.
To view the magazine go to: www.thirdsector.co.uk/index.cfm

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Transparency

Transparency is about openness with information, being able to see how something works. For example, the Charity Commission provides transparancy in charities' financial information through publishing their accounts online.

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Trustees

Charity trustees are the people who form the governing body of a charity. They may be called a Management Committee or Board of Directors. The charity may be an incorporated body or an unincorporated one.

Since the Charities Act 2006 Trustees and people connected to them, such as family members, have been able to receive payment or other benefits for services they provide to a charity, as long as certain conditions are met. This applies only to payment for services and does not authorise charities to employ trustees or to pay them purely for acting as trustees.

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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Trusts

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.

DSC have a trust funding database.

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Turnover

Usually the total amount of money coming into an organisation in a year.

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