Frequently asked questions
1. When was Dartmouth Trust established?
In its current form the Dartmouth Trust was established in 1909. However its history dates back to the 1500s starting out as numerous smaller charities and endowments to the Church. For a full history of the Charity see the history page on our website
2. What are Dartmouth Trust’s aims?
Dartmouth Trust has a clear purpose to generate income from its endowment for its three beneficiaries. It is these beneficiaries who carry out the good work for the benefit of Dartmouth.
3. So who gets the money it makes?
Dartmouth Trust’s governing document stipulates that each year its net proceeds are given to 3 beneficiaries as follows:
half to Dartmouth United Charities (almshouses and grants for local people in hardship)
a third to St Saviours Church (The Ecclesiastical Share of the Dartmouth Trust)
a sixth to Dartmouth Town Council (The Public Purposes Share of the Dartmouth Trust)
Each of these beneficiaries is a registered charity with their own governing document setting out their purpose. Each charity is accountable to the Charity Commission. Dartmouth Trust is not able to alter the beneficiaries, nor the proportions distributed. It is also not able to influence the decisions made by each of the beneficiary charities on how they spend their allocation.
4. What kind of money is generated for the town each year?
Dartmouth Trust currently generates net proceeds (ie after costs) in excess of £600,000 each year from its endowment. This is distributed as above.
5. Does Dartmouth Trust hold money to buy more property?
The Trust must distribute all of its net proceeds each year so is unable to hold onto the money it generates from its endowment (other than to hold reserves for building repairs).
The endowment is a Permanent Endowment which means that it must be kept and not distributed. This was valued in 2022 at around £11million. If Trustees choose to sell a specific investment they must then re-invest the money in another investment to generate the best income. The endowed monies are held in perpetuity (forever) but they are not linked to a specific property or investment so Trustees must decide on the best way to invest the permanent endowment to generate income.
6. I’ve heard that DT owns all the commercial properties in town?
This really is not the case. As part of its investments, Dartmouth Trust owns the freehold of a number properties in Dartmouth (in 2024 it is less than 15). These mixed use properties have changed over time and will continue to do so as Trustees look to create a balanced portfolio of investments that diversifies risk and generates a good return for its three beneficiaries.
7. What else does the Trust do?
Dartmouth Trust also holds other investments as part of its endowment, to generate income for its 3 beneficiaries. Currently these are formed of a number of charity specific investment funds. Trustees assess the risk and the returns of each form of investment and obtain professional advices where needed.
There are a couple of historic anomalies to the portfolio which do not generate any income. One is the ownership of Crosby Meadow on Waterpool Lane. This is a patch of wooded amenity land that is accessible to the public for recreational use. The other is the ownership of the title to Bayards Cove Fort. In 1956 The Trust entered a Deed of Guardianship with Historic England who maintain and manage the Fort for the enjoyment of the public.
5. I thought the Trust was responsible for the historic buildings in town?
No, it is only responsible for the listed buildings it owns at any given time. Probably the oldest asset in its current portfolio is 4 The Quay, an old Devon Town House dating from 1664 located on the boat float.
Dartmouth Trust takes pride in maintaining the buildings it does own to a high standard. The net proceeds it distributes to its beneficiaries also goes towards the upkeep of historic buildings owned by the Town Council and the Church as part of the beneficiary charities' schemes.
6. Who makes all the decisions?
The Dartmouth Trust is run by a board of voluntary Trustees who are each appointed for an initial term of 4 years. Some of these positions are publicly advertised (we put articles in By the Dart and on social media), the 3 beneficiaries each nominate a Trustee, and one position is ‘ex-officio’ held by an official of St.Saviours (linked to its history). The Trustees employ 2 part time office staff who have some devolved responsibilities, but ultimately Trustees remain responsible, taking professional advices where needed.
7. How does the Trust decide what level to set its rents at?
As the main purpose is to generate income for its beneficiaries, Dartmouth Trust must look to obtain the best rent achievable in line with the going market rates (in the same way most private landlords and pension funds do). The Trust employs professional Chartered Surveyors to advise where necessary. Trustees also acknowledge that good tenants are valuable and in times of difficulty such as during Covid-19, the Trust acted in the best interests of helping tenants get through for the long term benefit of both parties.
8. I’m local to the town, does the trust have any residential properties to rent?
Currently the Trust owns 12 residential flats, the majority let on assured shorthold tenancies. If a vacancy does arise the Trust uses a local letting agent to advertise it widely. We recommend you register with the letting agents in town.
9. Is the Dartmouth Trust committed to providing low cost housing for people in the town?
No, this is not its purpose, Trustees can only follow what is set out in its governing document. One way is to think of the Trust like a pension fund, trying to make the best returns it can on its investments in order to give money to its 3 beneficiaries.
Dartmouth United Charities is one of its beneficiaries and it is this charity that provides low cost alms-houses for local people. We appreciate it is confusing having the DUC located in the same offices with the same administration team. However it is an entirely separate charity with its own board of Trustees and own purposes set out in its own governing document.
10. I’d like to know more about the DT, how can I find out more?
Please do read more about us on the other pages of our website.
You can also find our fully audited accounts and list of current Trustees on the Charity Commission website https://www.gov.uk/find-charity-information
For any other enquiries please contact us via the contact page of our website.
11. I want to get involved in the DT, what roles are available and how do I apply?
We are always keen to hear from people who wish to become Trustees and we can then let you know when one of the publicly advertised positions becomes available. A selection process will take place and it may be that specific skills and experience are needed to complement the existing Trustee board. We do not have any other volunteer positions.
1. When was Dartmouth Trust established?
In its current form the Dartmouth Trust was established in 1909. However its history dates back to the 1500s starting out as numerous smaller charities and endowments to the Church. For a full history of the Charity see the history page on our website
2. What are Dartmouth Trust’s aims?
Dartmouth Trust has a clear purpose to generate income from its endowment for its three beneficiaries. It is these beneficiaries who carry out the good work for the benefit of Dartmouth.
3. So who gets the money it makes?
Dartmouth Trust’s governing document stipulates that each year its net proceeds are given to 3 beneficiaries as follows:
half to Dartmouth United Charities (almshouses and grants for local people in hardship)
a third to St Saviours Church (The Ecclesiastical Share of the Dartmouth Trust)
a sixth to Dartmouth Town Council (The Public Purposes Share of the Dartmouth Trust)
Each of these beneficiaries is a registered charity with their own governing document setting out their purpose. Each charity is accountable to the Charity Commission. Dartmouth Trust is not able to alter the beneficiaries, nor the proportions distributed. It is also not able to influence the decisions made by each of the beneficiary charities on how they spend their allocation.
4. What kind of money is generated for the town each year?
Dartmouth Trust currently generates net proceeds (ie after costs) in excess of £600,000 each year from its endowment. This is distributed as above.
5. Does Dartmouth Trust hold money to buy more property?
The Trust must distribute all of its net proceeds each year so is unable to hold onto the money it generates from its endowment (other than to hold reserves for building repairs).
The endowment is a Permanent Endowment which means that it must be kept and not distributed. This was valued in 2022 at around £11million. If Trustees choose to sell a specific investment they must then re-invest the money in another investment to generate the best income. The endowed monies are held in perpetuity (forever) but they are not linked to a specific property or investment so Trustees must decide on the best way to invest the permanent endowment to generate income.
6. I’ve heard that DT owns all the commercial properties in town?
This really is not the case. As part of its investments, Dartmouth Trust owns the freehold of a number properties in Dartmouth (in 2024 it is less than 15). These mixed use properties have changed over time and will continue to do so as Trustees look to create a balanced portfolio of investments that diversifies risk and generates a good return for its three beneficiaries.
7. What else does the Trust do?
Dartmouth Trust also holds other investments as part of its endowment, to generate income for its 3 beneficiaries. Currently these are formed of a number of charity specific investment funds. Trustees assess the risk and the returns of each form of investment and obtain professional advices where needed.
There are a couple of historic anomalies to the portfolio which do not generate any income. One is the ownership of Crosby Meadow on Waterpool Lane. This is a patch of wooded amenity land that is accessible to the public for recreational use. The other is the ownership of the title to Bayards Cove Fort. In 1956 The Trust entered a Deed of Guardianship with Historic England who maintain and manage the Fort for the enjoyment of the public.
5. I thought the Trust was responsible for the historic buildings in town?
No, it is only responsible for the listed buildings it owns at any given time. Probably the oldest asset in its current portfolio is 4 The Quay, an old Devon Town House dating from 1664 located on the boat float.
Dartmouth Trust takes pride in maintaining the buildings it does own to a high standard. The net proceeds it distributes to its beneficiaries also goes towards the upkeep of historic buildings owned by the Town Council and the Church as part of the beneficiary charities' schemes.
6. Who makes all the decisions?
The Dartmouth Trust is run by a board of voluntary Trustees who are each appointed for an initial term of 4 years. Some of these positions are publicly advertised (we put articles in By the Dart and on social media), the 3 beneficiaries each nominate a Trustee, and one position is ‘ex-officio’ held by an official of St.Saviours (linked to its history). The Trustees employ 2 part time office staff who have some devolved responsibilities, but ultimately Trustees remain responsible, taking professional advices where needed.
7. How does the Trust decide what level to set its rents at?
As the main purpose is to generate income for its beneficiaries, Dartmouth Trust must look to obtain the best rent achievable in line with the going market rates (in the same way most private landlords and pension funds do). The Trust employs professional Chartered Surveyors to advise where necessary. Trustees also acknowledge that good tenants are valuable and in times of difficulty such as during Covid-19, the Trust acted in the best interests of helping tenants get through for the long term benefit of both parties.
8. I’m local to the town, does the trust have any residential properties to rent?
Currently the Trust owns 12 residential flats, the majority let on assured shorthold tenancies. If a vacancy does arise the Trust uses a local letting agent to advertise it widely. We recommend you register with the letting agents in town.
9. Is the Dartmouth Trust committed to providing low cost housing for people in the town?
No, this is not its purpose, Trustees can only follow what is set out in its governing document. One way is to think of the Trust like a pension fund, trying to make the best returns it can on its investments in order to give money to its 3 beneficiaries.
Dartmouth United Charities is one of its beneficiaries and it is this charity that provides low cost alms-houses for local people. We appreciate it is confusing having the DUC located in the same offices with the same administration team. However it is an entirely separate charity with its own board of Trustees and own purposes set out in its own governing document.
10. I’d like to know more about the DT, how can I find out more?
Please do read more about us on the other pages of our website.
You can also find our fully audited accounts and list of current Trustees on the Charity Commission website https://www.gov.uk/find-charity-information
For any other enquiries please contact us via the contact page of our website.
11. I want to get involved in the DT, what roles are available and how do I apply?
We are always keen to hear from people who wish to become Trustees and we can then let you know when one of the publicly advertised positions becomes available. A selection process will take place and it may be that specific skills and experience are needed to complement the existing Trustee board. We do not have any other volunteer positions.