In 1843, monies held in a Trust Fund founded the “Freemen’s Seniority Fund”. Two further Charities were founded following the No. 1 Inclosure Award (1860 Award) and the No. 2 Inclosure Award (1875 Award).
Subsequently, the three Charities were amalgamated in 1978 to form the new and current title of “The Coventry Freemen’s Charity”. The funds and properties awarded formed the original portfolio in the 1978 scheme.
Judicious investment by the Trustees has built up an extensive portfolio of properties and today the Charity owns valuable estates in the city. The income so generated provides the funds enabling the Charitable Gifts to be awarded.
In addition, the Charity receives perpetual yearly rent from the greens where the Freemen’s common rights were extinguished.
The charity uses the income from its estates and investments to pay:
- Discretionary Charitable Gifts or
- Discretionary Charity Annual Scheme Benefit (previously called pensions)
Discretionary Charitable Gift
The Discretionary Charitable Gift is a ‘one off’ payment to help with a specific need.
Discretionary Charity Annual Scheme Benefit
Previously known as the pension, the benefit payment is payable each quarter to suitably eligible Freemen who are:
- Needy Freeman of Coventry
- a dependent (other than a widow or widower) of a deceased Freeman
- widows or widowers of a deceased Freeman residing within the UK mainland.
Note: There is no age qualification, however, preference may be given to the aged, assuming the other qualifying criteria are met.