Funding news

Charities can apply now for the £16.5m Modernisation Fund - Wednesday 15 April 2009

Futurebuilders England urges applications ahead of the official start date later this month.

Gill Nunn, market development director at Futurebuilders England, which with Capacitybuilders is delivering the fund on behalf of the OTS, urged organisations to get in touch at once. "The key is to get this money out to where it's most needed as quickly as possible," she said.

The Modernisation Fund is focused on helping organisations that are providing services to those worst hit by the recession. The funding will be targeted at helping these organisations overcome barriers to collaboration and merger, or take other steps to adapt to the recession by providing a mix of grant and loan funding. Organisations that have incomes above £750,000 can apply for interest-free loans of between £30,000 and £500,000 from Futurebuilders, which is awarding £9.5 million.

Non-departmental public body Capacitybuilders will issue the remaining £7 million in grants worth either £1,000 or £10,000 in June and October to organisations with turnovers below £1 million.

The fund has been limited to organisations working in three areas: wellbeing and health; advice, information and guidance; and loss of income, training and skills.

The OTS was unable to provide further details of the £15.5 million targeted support fund - another of the plan's main strands - other than that it would be administered by local community foundations. The foundations will distribute grants to small and medium-sized charities in areas worst hit by recession. The other main strand of the programme is the DWP-run volunteer brokerage scheme, which is designed to create opportunities for 40,000 unemployed people to help their communities and learn skills through volunteering.


For more information, go to the Modernisation Fund website (opens new window).

For the full article, go to: www.thirdsector.co.uk/News (opens new window).