Guildry - charitable trust
In 1985 the Brethern decided that they should increase the value of the Guildry to the community. In spite of their antiquity and unlike the City Guilds they had never amassed funds either from legacies or elsewhere and only gained the reputation of a charitable organisation at second hand from pensions to the decayed brethren from the generosity of John Cowane three hundred years earlier.
A Trust Deed was prepared and approved by a Court of the Guildry on 15 August 1984. The Trustees are the Dean and the Clerk of the Guildry of the time and the purposes are:-
"The Trustees shall hold the Trust Fund for charitable purposes (in the sense in which that expression is used in the Income and Corporation Taxes Act, 1970 or any re-enactment there of) in the United Kingdom and with the consent of the Dean's Council of the said Incorporation shall pay or apply the Capital and Income to any charitable bodies, organisations and associations or individuals qualifying for charity in the United Kingdom which the Trustees shall select and that in such amounts or at such times and in such instalments as the Trustees may in their absolute discretion think proper"