Funding:
£150million Big Society ‘endowment for the nation' launched
The new Community First endowment, which aims to raise £150million to be invested to secure the future of local community projects in England, has been launched by Nick Hurd, Minister for Civil Society.
The Government will give 50p for every £1 raised from individual, corporate and philanthropic donors – pledging up to £50 million in total. This combined with Gift Aid tax relief will create a pot worth in excess of £150 million. The money will be invested and the return, expected to be up to £12 million per year, will be used to provide grants to local community and social action projects from 2015 onwards.
Donations have started with Arthur Green contributing to the Big Society endowment – he is a long-standing donor to the Sussex Community Foundation.
This donation builds on his existing commitment to support local communities in Sussex through the Arthur & Doreen Green Fund. The income generated by the fund will provide a contribution to the financial needs of some of the many worthy and deserving causes that exist throughout East and West Sussex.
The Community Development Foundation (CDF), which manages Community First, is working with local Community Foundations in the Community Foundation Network (CFN) to raise more money for the endowment.
For more information go to the Community Development Foundation website
Posted 11th January