BusinessCompany NewsBanks and charities to unlock dormant trust funds

Banks and charities to unlock dormant trust funds

Cash locked in dormant trust funds to be freed up through initiative backed by major banks

An innovative project that releases money from dormant and inactive
charitable trust funds and uses them to fund the voluntary and community sector
launches this month.

The Boost Initiative is being launched at the Community Foundation Network
Conference on 19 September by project leaders Community Foundation for
Merseyside.

The project aims to provide services that help charity fund holders deliver
their grant money in the most effective way.

Development manager for Community Foundation for Merseyside, Jennifer Tanner,
said: ‘The aim is to release charitable funds that aren’t being used
effectively. Community foundations have such a wealth of experience in managing
and delivering charitable funds it seems logical to use our capacity to help
struggling trusts to deliver.’

There are 50 community foundations in the UK and the Boost Initiative will
provide a link between trustees and their local foundation.

The Boost Initiative has been sponsored by The Barings Foundation and Lloyds
TSB Foundation with technical support being provided by the Charity Commission.

Further reading:

Find out more about this
initiative

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