For Good And Not For Keeps was commissioned to explore one of the most testing questions faced by trustees of charities with long-term missions who rely on investment assets to fund their activities. 'How much can we safely spend on our charitable activities year on year while preserving the value of our investment assets for future generations?'. This report addresses those charities with a long-term mission that rely on the return from investment assets to fund their charitable activities year on year. It has been written primarily to help charity trustees and staff think through their approach to managing the often competing concerns they experience. It may also interest those who advise them or who aim to support the sector. The report presents some technical information, but is aimed at the 'lay', or non-expert, reader with no professional legal, financial or investment experience but who may find themselves involved in governing or managing charities with investments.