Funding news

Local foundations will distribute Grassroots cash – Wednesday 9 July 2008

Community foundations are to be given responsibility for distributing the overwhelming majority of the £130m Grassroots Grants fund for small community groups.

Grassroots Grants was established to provide local community groups with access to small grants. The fund is split into £80m of small grants for community groups and a £50m endowment fund, which will be used to attract match funding from private sector companies.

About 95 per cent of the endowment pot and 87 per cent of the grants fund have been offered to members of the Community Foundation Network, which represents the UK's community foundations, according to its chief executive.

The network has predicted that the £50m endowment fund could be turned into as much as £1.5bn

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