CIO status for Transport Benevolent Fund charity

first_imgThe Transport Benevolent Fund (TBF) has become a Charitable Incorporated Organisation (CIO). The new structure, established by the Charities Act 2011, provides charities with some of the operational benefits enjoyed by limited companies, but without some of the burdens.The assets and 45,000 members of the TBF, founded 90 years ago, have automatically been transferred to the new CIO and it is business as usual.There are no changes to membership status, the benefits of membership, or the weekly membership fee of 1, which continues to cover the member, their spouse or partner, and dependent children in full-time education.All benefits – 500,000 in each of the last two quarters – continue to be paid at the discretion of the Trustees, who themselves work in the industry.“To be granted CIO status is exciting news for all involved in the work of the TBF,” says Ian Barlex, TBF Development Director.“We welcome as members all whose main occupation is involved with the provision of passenger transport services.”In conjunction with the new charitable status, a new logo and brand image are being rolled out.last_img read more