Charity Code of Governance
The Trustees actively engage with the Charity Code of Governance as it applies to larger charities, reviewing on an annual basis the extent to which the Trust applies the recommendations of the Code addressing any queries or gaps in the Trust’s practice and procedures. The first formal review under this Code took place in July 2022. The results are shared with the Trust’s Auditors.
The Trust’s general approach
Almost all of the Isaac Newton Trust’s business is enacted with the University of Cambridge and its associated colleges. The INT aligns itself with the University’s governance policies, including: Equality & Diversity, Research Integrity, Health & Safety, Modern Slavery, Safeguarding, Anti-Money Laundering. We expect applicant for grants also to subscribe to these principles.
Our income
The Trustees proactively seek to lower the ecological and ethical footprint of all our activities by engagement with key institutions.
Most of the Isaac Newton Trust’s income comes directly from or via Trinity College, and we therefore rely on the College’s due diligence regarding sources of funding.
Trustees are content with the progress made by the Cambridge University Endowment Fund in the ethical management our investments. Equally, INT complies with the eligibility requirements of CUEF, including provision of an Anti-Money Laundering comfort letter. We also engage actively with our bank, Barclays plc, to encourage them to step up their response to the climate crisis by reducing loans to and investment in carbon-heavy companies.
Our grant-making activities
In line with our Charitable Objectives, our grants are made to the University of Cambridge and to the Colleges of the University, which are responsible for the recruitment and employment of any staff engaged on these grants. Decisions on which applications to fund are taken by the Trustees collectively, after discussion around the table at three meetings per annum, or by Sub-Committees for specific programmes, elected by and reporting to the Trustee body.
Suppliers
Our principal suppliers are Trinity College, which provides catering, payroll and pension services, and our Auditors, currently Peters, Elworthy & Moore. Payments to all suppliers amount to less than 0.5% of our annual outgoings.
Trustees
Trustees are recruited to represent expertise in a wide range of subjects and a balanced College membership. They are elected either by Trinity College (maximum of two) or the Trustees themselves. Appointment is confirmed on the basis of the terms set out in the Trust Deed and all Trustees are asked to make themselves familiar with the Charity Commission’s guidance for Trustees.
Current Trustees cannot apply for grants from the Trust. A Trustee declaring an interest in any agenda item does not participate in decision-making on the item. A publicly available Register of Interests [link] is updated annually.
Trustees do not receive remuneration, expenses, or benefits, except to attend one dinner annually, held after the July meeting, to welcome new Trustees and thank retirees.
INT personnel
The Director, Treasurer and staff are employees of the Trust. Arrangements are monitored by the Trustees and any actions required are undertaken by a Standing Sub-Committee, which may call on external advice if required. The Trust has Employers’ Liability Insurance, as well as limited Public Liability cover for events.
EDI
The Trust aspires to achieve equality of opportunity wherever possible in all our activities, from awarding grants to the appointment of Trustees and staff. We collect, and will publish annually, relevant data (see Annual Reports).
Risk
The Trustees monitor and manage potential risks by regular review of the INT Risk Register and by conducting Strategic Reviews of aspects of our activities every three years.