Subject - Manchester Fund

Posted : (Thursday 1st March 2007 ) By - Jane (Registered User)Community groups city-wide are to benefit from an historic funding windfall.

This new fund is the result of a partnership between Manchester City Council and the Community Foundation. The Community Foundation worked with the Charity Commission to revive around 70 dormant trust funds, some dating back to 1708.

As a result around £30,000 – the interest generated from a capital sum of £350,000 – is now available to local community groups. They will be able to apply for grants up to £1,500. Particular emphasis will be put on activity that supports young people in the city.

Most of the trust funds were originally set up to provide straightforward educational prizes to young people from disadvantaged backgrounds. Some, however, had more unusual aims.

For instance, the J W Fair Memorial Fund provided scholarships to the sons of widows who wished to take up architecture! The William Smith Scholarship, founded in 1947, provided an annual travelling scholarship in Europe for young working men.

The trust funds had become dormant for a number of reasons, largely because their original purpose had become outdated and irrelevant to current needs.

Manchester City Council along with Stockport MBC, Bury MBC and Rochdale MBC are amongst the first Councils in the UK to release dormant funds in this way.

Interest from the Fund will be distributed in grant form. Over the next few months the aim is to increase the amount of money available by inviting local businesses to become ‘keyholders’ of The Manchester Fund by making donations.

For further information about supporting the Manchester Fund please call: 0161 214 0940, or email: enquiries@communityfoundation.co.uk

Details about grant applications can be found at:www.communityfoundation.co.uk