£150million Community First endowment fund launched

The Community First endowment fund, which aims to raise £150million of investment to deliver around £12million in annual returns to provide grants to local community and social action projects from 2015 onwards. has been launched.

The Community Development Foundation (CDF) will be working with the Community Foundation Network (CFN) to deliver the endowment. CFNs' network of local community foundations provides a valued service for individual and corporate donors, supporting 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 £150million, £100million of which will be private donations topped up by £50million 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.

To make a donation through the Endowment Match Challenge, find out where your local Community foundation is at www.communityfoundations.org.uk/community_foundations/map and make contact with them. The first matched funds are expected to be available from the end of October, but discussions and preparatory work can start now. For further information email communityfirst@cdf.org.uk or telephone 020 7833 1772 and press "3" for a member of the Programmes Team.