A proposed new way forward for trust funds managed by the council
A new Brighton & Hove fund could be set up to help voluntary and community groups in the city.
Brighton & Hove City Council is considering moving money from a number of trust funds, set up over the years as result of legacies and endowments, into the proposed new fund.
If the idea gets the go ahead, grants from the fund will initially benefit children and young people in the city, and libraries – in line with the wishes of donors who made the original bequests. The aim is for the fund to also raise more money and attract new endowments to support other local community causes.
Councillors will consider the proposal at a meeting of the Neighbourhoods, Communities and Equalities Committee on March 13, before a final decision is made on March 23 at the Policy, Growth and Resources Committee.
Councillor Emma Daniel, chair of the Neighbourhoods, Communities and Equalities Committee, said: "Many of the trust funds the council administers date back for decades. We want to modernise the way grants are allocated, and create opportunities for any organisations, businesses or individuals who want to set up their own funds to benefit local community and voluntary groups, so that we can expand the support available."
For more details see the Neighbourhoods, Communities and Equalities Committee report (agenda item 62)
The proposal involves 11 trust funds, worth a total of £945,114, which are currently administered by the council. The idea is that this money could move into a fund, managed by the Sussex Community Foundation on behalf of the council.
Community and voluntary organisations would be able to apply for grants made from interest on the funds - estimated at around £42,000 in the first year. Of this approximately £38,000 would be allocated to organisations supporting children and young people, and £4,000 for projects which support the aims and objectives of libraries.
The Sussex Community Foundation is a registered charity which raises funds for and makes grants to local charities across Brighton & Hove and East and West Sussex. The foundation manages funds of money on behalf of Sussex donors, connecting them to groups and communities they want to support.