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Boats

F7000

Name: The Nuffield Trust

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Condition: Not Known

Location: Not Known

Current Owner: Initial notes - January 2014, updated - May 2017

Known Owners: The Nuffield Trust.

The Trust was established on 27 May 1939 by William Morris, born 1877, later Lord Nuffield, an industrialist and builder of Morris motor vehicles near Oxford.

With war looming, he was anxious to help all servicemen, especially those civilians about to be conscripted, have some recreational facilities worldwide.

To establish the Trust, he donated from his personal portfolio 1 million Ordinary Stock units in Morris Motors Ltd, then worth some £1.65m (how much value at today's figures?) and with annual dividend income then of c£105,000. To enable expenditure to start at once, before dividend income from the shares started to flow, he also made a cash donation of £50,000.

Under a board of four Trustees, the fund remains very active to this day; £1.3m was spent directly for the benefit of service personnel and their families during 2013, £2.4m has been allocated for 2017 grants, and adjusted to today's values, some £249m has been spent since the Trust was founded.

The Trustees endeavour to make grants to service units for projects which will benefit all three services at one location. In 1999, to mark the Trust's 60th anniversary £1.35m was donated for the construction of a holiday village for personal and their families on the Isle of Anglesey.

Research through the NFA records and sales ledgers passed to the care of NFA by Fairey Marine suggests that at least 150 Fireflies were funded by the Trust for the enjoyment and training of service personal; most are now specified on the Boat Register lists. Many other classes of dinghies and yachts were also funded, together with the costs of the necessary shore based facilities.

Lord Nuffield's remarkable generosity continues to be extended to many other charities, educational and health facilities worldwide.

He died 1963, said to be one of the richest men in the world, and his home, Nuffield Place near Henley - on - Thames is now in the care of the National Trust and open to visitors.

Initial notes recorded January 2014, updated May 2017

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