Dormant Trusts Identified Throughout The County Could Help Fill Funding Gaps – Including Stafford & Stone
Local charities make up the lifeblood of communities and make a daily difference to millions of people. The ‘Revitalising Trusts’ initiative, announced in the Government’s Civil Society strategy this week (w/e 9 August), will provide a huge boost to local charities by distributing funds from inactive trusts to good causes which total vast sums across the UK with Staffordshire currently sitting on £12M that could, if made active from dormant funds, fill many funding gaps in the local voluntary sector.
There are many charitable trust funds in England and Wales that are inactive. The original founders and trustees may have passed away and many of the funds are now relatively small pots of money which makes it difficult to ensure they have a meaningful and local impact. Collectively these trusts amount to a significant amount which could make a huge difference to local communities.
The Community Foundation For Staffordshire are professional community fund managers. Part of a UK-wide network of organisations they have ‘activated’ many dormant trusts and funds across Staffordshire and with the support of this latest Government initiative want to not only realise funds already identified by Government but also find other dormant monies that can be used to help local communities, both now, and in the future. They are calling on people who know of dormant funds; to contact them to identify if the money can be realised for the greater good.
With an excellent track record The Community Foundation For Staffordshire have, via investment by their fund managers, substantially increased the original sum of many dormant funds so that more people and more groups can benefit. Examples include ‘The William Hodges Trust’, which has more than doubled in value since the original transfer of £14,000. It assists people in need in Stone.
Minister for Civil Society, Tracey Crouch said:
“This initiative will make a real difference to people and communities across the country. By working with UK Community Foundations and the Charity Commission, we will honour the original aims of these now-inactive charitable trusts by redistributing funds to help those that need it most.”
Steve Adams, CEO of The Community Foundation for Staffordshire said:
“We have a long history of working with trustees of local trust funds to help them to breathe new life into their charity. We help to reduce the administrative burden, grow their worth and help ensure that the trust becomes fit for the future. It is fantastic news that the work that we undertake for many organisations across the county is recognised by the Government and the Charity Commission to deliver this initiative. It is an excellent way to ensure that trustees can relieve themselves of tiresome burdens, whilst making sure that they do the best for their trust, and more importantly, that their funds stay local, going on to help more people than ever before in Staffordshire”.
“If people know of local trusts or funds they should contact us and we will be able to analyse whether or not they can be realised and how they could benefit the local community.”
The Office for Civil Society and the Charity Commission are working with the UK Community Foundations to transfer millions of pounds of inactive trusts funds to local Community Foundations to invest into their communities. It is expected that this will provide an extra £1million in grant funding to local community and voluntary groups every year.
Community Foundations are established, trusted local fund management specialists that support local communities across the UK. Community Foundations reach every postcode in the UK and focus on the most pressing needs in an area. Community Foundations are leading grant makers and have a strong track record of supporting communities. They are reliable with a trusted model of delivery and are all quality accredited.
The Charity Commission and the Office for Civil Society have chosen to work with Community Foundations based on their expertise and experience in supporting communities and ensuring that funds are distributed well to tackle local need.