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The Worthing & Adur Community Fund


Questions and Answers
1. How does the endowment challenge work?

The Grassroots Endowment Challenge creates an incentive for individuals and businesses to give money towards endowed funds which will provide long term, sustainable funding for local voluntary groups.

The money is part of a £130 million nationwide drive by the Government to support thousands of grassroots groups across the country, including a grants programme for small local groups.

Sussex Community Foundation is managing the Grassroots Endowment Challenge across Sussex and has set a target of raising £1.5 million to attract the £1.5 million match funds on offer from the Government.

However this Challenge is time limited and all donations must be received by March 2011.

Gift Aid is included in the matched amount so for example if you are a tax paying individual, a donation of £100 could be increased by match funding to £256.

3. How is the money invested and managed?

Sussex Community Foundation has appointed Sarasin & Partners LLP as their investment advisers. Sarasin have approx £7.2bn under management of which 25% is managed on behalf of charities. For information about Sarasin see their website: www.sarasin.co.uk

Funds are invested in Sarasin’s Alpha CIF for Charity Endowments.





5. Who will decide where grants will go?

Decisions on how funds will be distributed will be made by a local advisory panel including representatives from the community who have a good knowledge of local needs. Sussex Community Foundation will provide the necessary administration and financial accountability.



2. How do I donate to the Worthing & Adur Fund?

Using debit/credit card via the Sussex Comminuty Foundation website as follows: Go to http://www.sussexgiving.org.uk/donate/

Follow links for ‘Donate Now’ and make sure under the section ‘additional details’ you select the option ‘Worthing & Adur Fund'.

Alternatively you can donate by cheque payable to 'Sussex Community Foundation' (making sure they request funds go to the Worthing & Adur Fund) or by BACS transfer.




4. When will the first grants from the Fund go out?

The Worthing & Adur Fund will be set up as an endowment fund where donations are invested to provide an income for grant making. The amount to be distributed as grants is decided year on year dependant on the size of the Fund and the return on the investment that year.

A first priority is to grow the Fund to a reasonable size but it is hoped that the first grants will be distributed in late 2010.

In the meantime, Sussex community Foundation is already making grants in the area from existing funds - but with our support can achieve much, much more.

6. How do community groups apply?

Once the Worthing & Adur Fund is open for applications then groups can download criteria and an application form from the Sussex Community Foundation website. There is likely to be one grant round per year initially.
 
 

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Worthing & Adur Chamber of Commerce
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