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Adam & Company hosts philanthropy forum with Sir Tom Farmer

Date: 03 Jun 2011

Citywealth

Adam & Company hosted a Forum for Philanthropy at Mansfield Traquair in Edinburgh on 2nd June 2011, at which Sir Tom Farmer was the keynote speaker highlighting ‘Venture Philanthropy’. Venture philanthropy applies the principles of venture capital to philanthropy, where a strong package of financial support is backed by targeted expertise and a focus on measurable impact and results. Emerging new approaches to charitable giving are creating exciting new opportunities in which philanthropists can get involved and create a social impact.

Having founded the Kwik-Fit chain of garages and going on to sell it for more than ¬£1 billion, Sir Tom Farmer is one of Scotland’s leading businessmen and philanthropists. He is the first Scot to have been awarded the prestigious Andrew Carnegie Medal for philanthropy and works with a catalogue of charities and community organisations. He is a major contributor to causes ranging from education schemes and tsunami relief to the international development charity Mary’s meals, which provides school meals for children in deprived areas around the world. He is a founding investor in the innovative venture philanthropy organisation, Inspiring Scotland. Sir Tom has also established the Farmer Foundation to provide support to local communities in the UK and abroad, with the aim of encouraging self-sufficient development.

He said: “Two people benefit from philanthropy – the person you’ve helped, and yourself. Being able to do things for other people definitely helps build your feel-good factor. But true philanthropy isn’t just about writing a cheque. It’s as much about giving your time and effort to help others. I like to be hands-on in my charitable work and to see where my money is going. Charities themselves need to work more effectively and save money where they can.”

The Forum gave participants from across Scotland the opportunity to learn about his approach to philanthropy and his personal philanthropic journey. Alan Barr, partner at brodies LLP also highlighted the tax reliefs available for philanthropic activity and how to give in the most tax efficient way.

According to Graham Storrie, managing director of Adam & Company: “Whether just starting out or somewhere down the road in your philanthropy journey, meeting like-minded individuals is always a great source of inspiration and information. This Forum provided an opportunity to share experiences, lessons learnt and insights on giving something back making a bigger difference.”

www.adambank.com

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