You would need to run it as an "entity" for liability purposes amongst others, and whilst a Charity is run "Not for Profit"... what that actually translates to is that it CAN make a profit, the Directors/Trustees cannot withdraw that profit as a Dividend payment like a Limited Company, and the staff can be paid for their time (which I know from personally knowing the Brew's is considerable) just like a Company.
Personally, what I would like to see is that some of the profit used to make HMV purchases that can be worked-on by the members (and owned by the Charity), and the restoration progress / collection displayed at the show every year. Given another reason to attend.
I believe that would encourage greater club attendance and promote the hobby to people who think it is beyond their means (given the cost of vehicles today), but have the skills to help with restorations/repairs. I believe that Duxford and The Tank Museum are a proven examples to this being a feasible idea.
Most of us have heard of the Crompton and Wheatcroft collections of German WW2 vehicles (and I know they have Allied vehicles aswell), but wouldn't it be great to have the Essex HMVA Collection.
As a Charity, it would be open to charitable funding, such as the Lottery and a whole heap of other sources (including other charities).
I'd like to hear people's views?