Governance

 

Trustees

Trustees of the Veterans’ Foundation (VF) are appointed by the unanimous agreement of other trustees, based on suitability and experience.  Up to 12 trustees may be appointed.  Trustees are appointed for a 3-year period, which can be extended by 3 years by majority vote of the trustees.  The Chair is expected to ensure all trustees contribute effectively; the Chair will carry out informal appraisal.

Terms of Reference for Trustees’Meetings

Trustees meet once every 3-4 months.  Their task is to ensure the VF is run correctly, following guidance from bodies such as the Charity Commission, OSCR, the Gambling Commission, the Fundraising Regulator and Cobseo.  The VF follows the Government guidance for trustees, as follows:  

https://www.gov.uk/government/publications/the-essential-trustee-what-you-need-to-know-cc3/the-essential-trustee-what-you-need-to-know-what-you-need-to-do

Trustees’ Job Description

A copy of a generic job description for trustees can be viewed here.

Code of Conduct

Trustees act according to the following code of conduct, agreeing to uphold the following principles throughout their work:

  • Beneficiaries first
  • Integrity
  • Openness

These principles will be woven into strategies, policies and procedures to uphold the fundamental values, but also to set the stage for long-term success.

Conflict of Interest

Trustees have a legal duty to act in the VF’s best interests when making decisions.  If there’s a decision to be made where a trustee has a personal or other interest, this is a conflict of interest and the trustee won’t be able to comply with their duty.  Therefore we have instigated a policy that follows a 3-step approach (identify, prevent, record).  A Register of Interests for trustees will be maintained.

Gifts & Hospitality

Trustees and members of staff should not use their official position to receive, agree to accept or attempt to obtain any payment or other consideration for doing, or not doing, anything or showing favour, or disfavour, to any person.  They should not receive benefits of any kind from a third party which might reasonably be seen to compromise their personal judgement and integrity.

Boards

The Board of Trustees comprises up to 12 trustees.  Three trustees make a quorum.  Board members can participate by social media / remote communications, such as via telephone or Skype.  Board meetings will be called every 3-4 months.  A Chairman and Vice Chair will be appointed; currently these are Peter Mountford and [TBC] respectively.

Terms of Reference

The terms of reference for the Board of Trustees are as follows.  

The Board of Trustees is to:

  • Meet 3-4 times a year routinely and extraordinarily when needed
  • Review the performance of the VF since the last meeting
  • Review the performance of partner organisations, including contractors, since the last meeting
  • Review income and expenditure, ensuring that there are sufficient funds to carry out the objects of the VF
  • Allocate surplus funds to suitable beneficiary charities and charitable organisations
  • Make decisions to improve the performance of the VF
  • Review issues concerning the members of staff to ensure they are being managed effectively
  • Review the risk register at least once a year but to consider new risks every meeting if there are any

CEOs Objectives 

The CEO's objectives are as follows:

  • Prepare a strategic plan and annual budget for approval by the Board of Trustees
  • Operate within the annual budget and ensure policies are up-to-date
  • Recruit and lead the management team
  • Build relationships with politicians, the media and government officials and whoever else is needed in order to advance the VF’s aims
  • Establish and monitor key indicators of the VF’s impact and financial health
  • Represent the VF at external events and publicity opportunities
  • Maintain an awareness of risks and changes in the external environment that affect the VF
  • Build an effective working relationship with the Chair of the trustees
  • Supply relevant reports to the trustee board and attend trustee and sub-committee meetings
  • Ensure the VF’s staff is focused on achieving its mission and aims
  • Ensure that the VF fulfils its legal, statutory and regulatory responsibilities
  • Encourage and staff applications from likely grantees
  • Conduct due diligence on potential grantees
  • Establish mechanisms for listening to the views of beneficiaries of the VF
  • Deliver the VF's business plan
  • Help to ensure a sustainable income for donations from individual, corporate, legacy and trust donations
  • Represent the VF to the media and give interviews

Strategic Business Plan

The VF's strategic business plan is to deliver the VF’s objects while there is the need.  

Budget Forecast

A budget and cashflow spreadsheet will be considered by the trustees at each routine trustees' meeting.

Annual Plan

A rolling annual plan will be produced by the CEO under trustees' direction.

Risk Register

A risk register will be maintained and reviewed every quarter by the CEO.  The risk register will be considered at least once a year by trustees and they are to consider new risks every meeting, if there are any.

Joint Working

By necessity, the VF will work with many other organisations.  Where sensible, SLAs and contracts, or similar, will be established.

Remuneration

Trustees will oversee remuneration of staff, applying the remuneration policy.  The trustees will award an annual rise in salaries according to the CPI as long as it is affordable.  A bonus will only be awarded in exceptional circumstances.

Policies

The VF applies the policies contained in policy documents as follows:

  • Grant-making
  • Fundraising
  • Data Protection
  • Compliments and Complaints
  • Reserve
  • Conflict of interest
  • Expenses
  • Privacy
  • Risk Management
  • Volunteering
  • Safeguarding
  • Remuneration