Development

Introduction

Considerable progress has been made in the restoration of Fota House, which has enabled it to be open to the public and to provide facilities for corporate and private functions, exhibitions and concerts.

Much remains to be done to enable the House to reach its full potential.

A fundraising division is in place, managed by the Fota Fundraising Board, which seeks to support the efforts of Fota Trust in maintaining and developing the House by generating capital funds through individual, corporate and philanthropic giving.

Details of capital projects, concerts and conferences, which require funding, are available on request from:

Fota House
The Fundraising Office
Margaret Martin, Chief Executive, Fundraising Board.

Tax Incentives/Benefits

Donation Benefits

Incentives and benefits will be in accordance with the level of the contribution, however the following is an example of the type of benefits:

• Preferential use of house
• Plaque in the house with list of donors
• Honorary membership of Friends of Fota
• Press and public relations opportunities for PR purposes
• Tax Relief on Donations to eligible charities under Section 45 of the Finance Act 2001.

1. Fota Trust Company Ltd is an eligible charity approved by the Revenue Authorities under the above legislation.
   Registered Charity Number CHY 10462
2. There is a minimum donation in any one year to any one eligible charity of €250 with no maximum qualifying donation.
   Donations made by instalments (e.g. standing order) also qualify.
3. Full tax relief is available as follows:
   
   • Companies - a deduction can be claimed for the donation as if it were a trading expense, thus ensuring full corporation tax relief.
   • Self employed- individuals who pay tax on self -assessment basis can also claim a deduction for the donation as if it were a trading expense. This ensures relief at the higher tax rate (currently 42%) if applicable.
   • PAYE individuals - relief is given on a "grossed up" basis to Fota Trust rather than by way of a separate claim to tax relief by the donor. This means the donation is treated as having being received "net" of income tax and Fota Trust submit a reclaim to the Revenue for the appropriate tax. For example, assume an individual wishes to donate €1,000 and the person is a top rate - taxpayer (42%). The donor makes a payment to Fota Trust of €580 (being the €1,000 less 42% tax) and Fota Trust reclaims directly from Revenue the tax element of €420.

Further information:

Fota Trust Company Ltd will be very glad to supply any additional information required by potential donors. Please call the Development Office on 021-4883994