Transport Benevolent Fund becomes CIO
The Transport Benevolent Fund (TBF) has changed status to become a Charitable Incorporated Organisation (CIO). A CIO is a new form of structure that provides charities with some of the operational benefits enjoyed by limited companies, but without some of the burdens. The new charity’s title is now Transport Benevolent Fund CIO, known as TBF. It is a registered charity in England and Wales and the new registered charity number is 1160901. The assets and members of the original TBF have automatically been transferred to the new CIO and it is ‘business as usual’ for members and staff. There are no changes to membership status, the benefits of membership or the weekly membership fee of £1. The cover continues to apply to the member, their spouse or partner and dependent children in full time education. In conjunction with the new charitable status, a new logo and brand image are being rolled out across all aspects of TBF marketing and administration.
TBF Development Director, Ian Barlex, said, ‘To be granted CIO status is exciting news for all involved in the work of the Transport Benevolent Fund. TBF is proud to have an impressive list of industry and trades union leaders as its Patrons and we were delighted to see membership recently pass a landmark 45,000. We welcome as members all whose main occupation is involved with the provision of passenger transport services. The continuing relevance of the fund’s work to help those in the industry at their time of need is best illustrated by the volume of awards to members, which has exceeded £500,000 in each of the last two quarters.’