More and more developers around the UK are channelling their Community Benefit Funds through community foundations. Cumbria Community Foundation helps many developers to do this. We have a strong track record of working with developers to ensure these community benefit funds are invested effectively and with the active involvement of local residents.
What are the benefits to your firm of delivering a community benefit fund through us?
- It avoids the need to set up and administer a new charitable trust, but the fund remains ring-fenced solely for the area and purposes agreed with you.
- We are independent of any particular local interests or organisations and our processes are transparent and objective
- We provide a full audit trail and are accountable to the Charity Commission.
- We have dedicated, experienced Grants & Donor Services Officers to work with you and the fund panel.
- Our endowment ensures we will be around for the long term.
- We can research a community profile to guide priorities, or draw on one done by others.
- We can set up and run a community panel to advise on the fund, which can include residents, Parish councillors and local business people as appropriate.
- We can invest in a wide range of activities through individuals and organisations, so long as the work being supported is legally charitable.
- We handle all requests for support and all funding awards. We can make grants, commission projects and partner with other bodies on joint schemes – including loans.
- Funds can be entirely revenue based, or include an element of endowment building to result in a lasting community asset and a legacy beyond the life of the fund.
- We monitor awards, arrange visits to projects and generate publicity for the fund.
Normally, the contribution to our costs for running a fund is met by developers as an additional resource above the payments into the Fund.
To discuss how we could work on a community benefit fund for your development, contact Cath Howard, Chief Operating Officer on 01900 825760 or email firstname.lastname@example.org.