CFN goes back to its 'roots  (Industry)

Leading expert in grassroots giving, the Community Foundation Network (CFN) has launched a Grassroots Personal Fund. This coincides with the 3 July announcement of the successful bidders who will now deliver the Government's Grassroots £50m challenge fund.

Many of the 56 Community Foundations are expected to be successful and the Grassroots fund
enables philanthropists to increase their donation, through Gift Aid tax relief and a government “top up”, by up to 341 per cent.

Government plans for a £50m challenge fund were unveiled in April to promote and incentivise local charitable giving among philanthropists by matching donations into funds. The income from these funds would then be managed by organisations such as the CFN to provide long-term sustainable finance to innovative grassroots community groups and projects specialising in areas of interest set down by the philanthropists themselves.

CFN believes that this new product could not only enable philanthropists to turn a £300,000 charitable endowment donation into as much as £1m, but as the capital investment is never eroded, a sustainable source of income is also created for local charities.

Stephen Hammersley, chief executive of CFN, said: "We are delighted that
CFN has been selected by the government as one of the leading beneficiaries of this new £50bn initiative. This Grassroots Personal Fund will offer philanthropists all the advantages of a private charitable trust but without the administrative overheads. This £50 million investment could see over £1.5bn committed to community philanthropy."

Mark Evans, Head of Philanthropy at Coutts & Co, the UK private banking arm, commented: "Coutts has been fully supportive of this new initiative and we are looking forward to talking to clients who are keen to support their local communities by leaving a legacy, starting with the Coutts Forum for Philanthropy in association with the Manchester Community Foundation. A lot of the issues that concern people today can only be addressed by supporting change from within local communities and this additional funding will accelerate the development of new sustainable sources of finance, independent of government. The expertise of community foundations in identifying beneficiaries and managing funds is one of the best ways to make sure that giving makes a real difference at a local level."

Through its philanthropy specialists, Coutts offers specific knowledge and
insights to help guide clients in creating an effective giving strategy,
conducting market research, getting professional advice, evaluating projects
and creating a portfolio of charitable interests. Coutts is also committed
to providing donors/philanthropists with networking and educational
opportunities through the Coutts Forums for Philanthropy.

RK  _________________________________________