The Personal Sports Fund is your way to raise additional funds to help finance your winter sports career.
What Is A Personal Sports Fund?
The funds are set up to help athletes under the age of 25 who are already competing in winter sports by assisting them to seek sponsorship from various sources as well as utilising Gift Aid via our charity to increase the value of each sponsorship amount for the athlete.
As we all know that participation in winter sports is very time consuming and costly so with the help from the charity we look to maximise any donations we receive on your behalf. The aim is to reduce the financial burden that winter sports can place on parents.
To enable the charity to reclaim the gift aid, a 5% fee for the service we offer is taken. This amount goes to running the charity and realising its aims for public benefit.
What Does The Fund Cover?
A Personal Sports Fund can be used to help with the cost of anything related to helping the child in their sport, some examples are:
- Training & Coaching Fee’s
- Travel & Accommodation Expenses
- Injury Rehabilitation & Medical Expenses Incurred Through the Sport
- Equipment to Participate
- Race & Membership Fee’s
The parent or guardian of the child cannot benefit as a result of the Personal Sports Fund. The funds are available to any young person, who is described as anyone under the age of 25.
How Do I Apply For A Fund?
There is a simple process for applying for a Winter Sports Fund. Just follow the steps below and remember, if you’re having problems finding a sponsor for your child, just contact us and we’ll help.
Rules of a Personal Sports Fund
In order for a Personal Sports Fund to reclaim gift aid and remain charitable, you must adhere to the following rules;
- The donor paying into a particular PSF must not be a beneficiary of that PSF, neither should the spouse, husband or civil partner of the donor, nor a relative of the donor (brother, sister, ancestor or descendant) or the wife, husband or civil partner of a relative, or a company under the control of the donor or a person connected with the donor
- The payment of money into a fund must not come with a condition of repayment
- Applications for support costs to be paid by the WSF from a particular PSF can only be made on the presentation of certain valid invoices relating to the following:
- Equipment, Coaching & competition Entrance fees
- Air fare or other travel invoice
- Accommodation cost in a training resort or area and we will pay out for the stay of one parent or guardian to accompany an athlete under the age of 18 years old
- Insurance costs
- Travel costs from the athlete’s home to a training venue when submitted with the invoice for the training costs at that venue paid at 26 pence per mile as stated on the HMRC web site.
- 95% of the donation and of any associated gift aid received will be applied to the PSF nominated by the donor to the WSF I understand the rules of the Personal Sports Funds and agree to the Winter Sports Foundation periodically checking the worthiness of claims. Excessive or inflated claims are a criminal offence and can be reported to HMRC.