£25m Lifeline for Charities in Wales
New funding of £25m through a new launching scheme called Revitalising Trusts Programme in Wales, has been announced by the Charity Commission to aid charities in this heightened time of need.
The money is earmarked for charities that are inactive or ineffective, spending less than 30% of their income in the last five years.
The Charity Commission aims to contact 200 charities in Wales, to release the target £25m funding from Welsh Government. The aim is that support will help charities get back up and running or transfer them to Community Foundation Wales to be managed for the long-term benefit of local communities. Some charities will be wound up and removed from the register.
The English equivalent of this programme saw over 1.8k charities revitalised with £32m spend. The Charity Commission is calling on trustees of charities in Wales who might be eligible for the scheme to come forward, for help to run again, or so funds laying idle in accounts can be transferred to help active charities to benefit Wales.
If you are a charity and need help or advice with your business finance including help with assessing your future operations, please don’t hesitate to get in touch with our team on firstname.lastname@example.org or by ringing 01267 237534.