07 April 2020
Market Deeping has become the latest model railway club to become a charity, a move that will provide the club with many benefits.
After the generosity shown by members of the public last year following the vandalism that took place at their exhibition, Market Deeping MRC decided to investigate charitable status.
Following advice offered by many clubs that had gone down the same route, most notably Warley MRC, they have now announced that they will henceforth be Market Deeping Model Railway Club CIO, Reg Charity No 1187779.
Registering as a charity brings with it several benefits for clubs, Gift Aid on income from tax-paying members, but also investment and development opportunities, as well as the protection of funds.
The acronym CIO stands for Charitable Incorporated Organisation. According to the club, it’s a corporate form of business only available to charitable organisations in the UK. All the usual rules apply about record keeping and filing with the Charity Commission but, as a CIO trustees can enter into contracts as if they were a limited company, with the same legal effect but with corporate rather than an individual liability.
In addition to this change, the club is on the move. After outgrowing their current clubrooms, a new premise in Rutland beckons. Current events have postponed the move, but it seems that the future is looking bright.