The Endowment Match Challenge aims to raise £100m in donations through individual and corporate philanthropy. Donations received will then be matched with £50m of government investment. Endowment funds raised will continue to grow over the life of the programme to ensure a sustainable source of funding for communities in years to come.
The Community Development Foundation (CDF) will be working with the Community Foundation Network to deliver the Endowment Match Challenge. Its network of local Community Foundations provides a valued service for individual and corporate donors. Community Foundations support community groups and enable individuals and companies to contribute to local needs, sustaining stronger communities over the long term.
Community foundations will set up endowed funds for donors and the Endowment Match Challenge will increase the value of donors’ funds by 50%. The target is to create an overall endowment of £150m, £100m of which will be private donations topped up by £50m of government match.
CCLA will manage the investment of the endowment funds. From 2015 endowment funds will be released to fund local social action projects through grants and other forms of social investment. The Social Investment Business and its parent charity, the Adventure Capital Fund, will help develop social investment propositions.
If you are interested in making a donation through the Endowment Match Challenge, use the postcode search within the ‘Near You’ section to find out where your local Community foundation is based and make contact with them. It is expected that the first matched funds will be set up from the end of October, but discussions and preparatory work can start now.
For further information, visit: www.cdf.org.uk/content/funding-programmes/community-first/endowment-match-challenge, or contact 0207 833 1772 and press ’3′ for a member of the Programmes Team, or email: [email protected].