Grassroots Endowment Challenge

You will recall that back in 2008 Norfolk Community Foundation were awarded the role of Local Funder for the Governments Grassroots Programme for England funded through the Office of the Third Sector. In addition to giving out grants to small community and voluntary groups in Norwich totaling £1.1million before March 2011 there was a second element where the Foundation through an Endowment match funding model was challenged to create a permanent source of community capital for Norfolk.

The Foundation was ultimately challenged to raise £2.2 million of new endowed funds before 31^st March 2011 which would be matched by the government at a rate of £1 for every £2 of new money raised which would result in a fund of £3.3 million being created for Norfolk, the interest from which will provide grant support for communities in Norfolk in perpetuity.

I am pleased to say that owing to the generosity of our donors and the hard work of the Foundation staff and Trustees we have successfully completed this challenge some 7 months ahead of the deadline. This challenge has been carried out at a time of a global recession and one that has impacted individuals and businesses across Norfolk Community Foundation and therefore we would like to thank our donors, new and old, for their generosity and support in achieving the target and creating what is a significant fund to meet tomorrow’s needs.

 

Norfolk Community Foundation is an accredited community foundation in association with Coutts & Co

Registered Charity Number: 1110817