From August 2008 until 31st March 2011, the Foundation is Challenging Barnet, Brent, Enfield and Harrow businesses, trusts and philanthropists to create funds that will support our communities forever – and is prepared to match their contributions pound for pound with funds received from the Office of the Third Sector.
How much are we trying to raise?
We have been set targets by the Government to raise £1.2m in total in Barnet, Brent, Enfield and Harrow , as follows and have been given the incentive by the Office of the Third Sector that for every £1 we raise, they will match it with £1 from their funds.
Match Challenge Targets
Year 1 Year 2 Year 3
2008/9 2009/10 2010/11 Total
Barnet 64,724.77 70,000.00 70,000.00 204,724.77
Brent 53,469.12 56,000.00 56,000.00 165,469.12
Enfield 56,203.00 60,000.00 60,000.00 176,203.00
Harrow 42,269.61 42,000.00 42,000.00 126,269.61
672,666.50
What we’ve been asked to do as Local Funder
Encourage local trusts businesses and philanthropists to support the communities of Barnet, Brent, Enfield and Harrow in perpetuity.
Demonstrate the huge benefits of creating a perpetual fund – how it will eventually become a limitless chequebook, a bottomless purse that will support our children’s children’s communities forever.
Prove that NWLCF cares about its people and wants to invest in its future
What’s required from donors?
Money – can be given in a variety of ways:
One-off contribution now to create your own named fund
Pledge to give a sum in each of the next three years
Contribute to an existing or a ‘local’ fund for a particular area
Begin a Monthly Standing Order
Commitment - think about
Who you want to support
How you want them to be helped
How you can encourage others to sign up to the Challenge
Whether you can have a joint fund with others who have similar wishes
Constraints
The grant monies won’t start to be given out until after 31 March 2011.
We can only support community or voluntary groups with this money – not individuals.
We can’t support statutory bodies or their agencies with the money.
It can only be used for small grants – typically sums of under £1500 at a time – so it is important that it is used where it is most needed.
Milestone Plan
Founder Supporters pledge their support in the first 3 months and have certificate to prove their “Founder” status.
Supporters can add to their fund at any time during the course of the Challenge, provided there are match funds left.
Funds continue to grow as soon as received by the Foundation, are matched immediately with funds drawn from Government and are managed by professional investment managers.
Distribution from the funds begins in April 2011.
