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We were pleased to see earlier this month that the Charity Commission’s initiative to unlock funds in dormant trusts and accounts has been extended into 2021.
Since being set up in 2018 the Commission has been working with UKCF and Community Foundations across England to unlock £32million and put it back into use to support charities across the UK. The extension means another 500 dormant trusts will be investigated.
At the Community Foundation we have helped the Charity Commission and UKCF to unlock two previously dormant trusts in Tyne & Wear and Northumberland. The first is the Royal Jubilee Educational Charity for Girls which transferred funds to our Women’s Fund and the second the Berwick on Tweed Nursing Amenities Fund which transferred into our Northern Angel fund. We are currently working on a third and hope that others may come as a result of the extension.
Sandra King, Chief Philanthropy Officer said:
“This is a brilliant initiative from the Charity Commission – getting much needed charitable funds back into circulation. We have worked with the Charity Commission to unlock two local dormant trusts, transferring them into funds at the Community Foundation, and making grants to local charities. We are working on another one just now and look forward to getting more charitable funds into circulation. Professional advisors and charity trustees who are aware of local dormant or ineffective charitable trusts are encouraged to give us a call to find out more.”
Professional advisors can find out more about working with us here
You can read more about the programme on the charity commission website here
If you want to apply for support from The Women’s Fund or the Northern Angel Fund please sign up to our e-newsletter here where we will announce when the funds are next open for applications.