History of the Trust
The Silverton Ancient Charities comprises of a collection of 13 legacies, the earliest dating from 1616 and now formed into a modern charitable trust controlling property, land and investments. The present Trust is the collection of these 13 legacies founded over three centuries. It is sometimes difficult to appreciate that the first was founded almost 400 years ago when life in Silverton would bear little or no resemblance to today's socially secure daily life.
The individual legacies were generally speaking administered by the Church or the Overseers of the Poor right up to Victorian times when the Charities Commission was founded and proper control was defined by rules and regulations.
The Parish Church, dedicated to St Mary the Virgin, contains an interesting collection of boards mounted on the front of the West Gallery describing some of the main legacies. The boards were restored some years ago but are still in fine readable condition.
The Trust today
The 13 legacies were drawn together to form the present Silverton Parochial Charity (charity number 201255) operating as the Silverton Parochial Trust, approved by the Charity Commission with the governing document being sealed on the 14th September 1990.
The Silverton Parochial Trust is managed by seven Trustees. The Ex-officio Trustee being the Incumbent of the present benefice of Silverton accompanied by six others, two of whom are appointed by the Silverton Parish Council.
The Trustees meet ten times a year to consider applications for assistance and to manage the properties and other holdings.
The Trust does not fundraise from the public, and its income is solely generated from rent of its properties and land, and other investments. Income from the Trust’s assets are applied in the first instance to the property and management costs and the remainder to meeting the cost of the applications. Surplus from any one year can provide funds for any approved projects that are solely for the general benefit of the parish and thus the parishioners.
The Trust produces an annual report for publication and submission to the Charity Commissioners, including a financial statement. Full detail of the reports and accounts can be found on the Charity Commission website.