Kent Charities to Benefit from a £2 Million Endowment Legacy
The Colyer-Fergusson Million Pound Match Challenge which matched £1 million in donations via Kent Community Foundation, has awarded its first grant.
Kent charities and social enterprises will be excited to learn that new match funding of £2 million has been invested in perpetuity via Kent Community Foundation and the income gained every year will be used for charitable grant making to support young people in Kent and Medway.
The first grant of £3,600, has been awarded to, Uprising Youth and Community, who support young people, families, and communities, facing significant challenges to achieve improvements in life, resulting in personal and community transformation.
Nicholas Fisher, Chairman of Colyer-Fergusson Charitable Trust, comments, “In its fiftieth anniversary year, Colyer-Fergusson Charitable Trust is delighted to be celebrating this important milestone in its history by building a £2 million endowment legacy that will give ongoing support to disadvantaged young people in Kent and Medway.”
Josephine McCartney, Chief Executive of Kent Community Foundation, comments, “We are delighted that Colyer-Fergusson Charitable Trust made the decision to invest £1m with Kent Community Foundation as a match fund. Thirteen individuals, families, Trusts, Foundations and businesses have taken the opportunity to be part of this and have seen their donations matched £1 for £1. The first grant has been awarded to Ashford based, Uprising Youth and Community and we are looking forward to offering financial support to many more local causes through this new funding."
About Match Funding
The incentive for philanthropists and businesses to donate via this method is that with a 1:1 Match Fund, donors know that their donation will be doubled, and the fund will continue to grow meaning their support for good causes will be ongoing. To celebrate its fiftieth anniversary year, the Colyer-Fergusson Million Pound Match Challenge added £1 for every £1 donated to an endowment fund managed by Kent Community Foundation. The funds have been invested in perpetuity and the income gained every year will be used for charitable grant making for the benefit for disadvantaged young people in Kent.
About Kent Community Foundation Endowment Funds
With an Endowment Fund your gift is invested to set up the fund, with the revenue it generates every year going to support your chosen causes. Over time, the amount distributed will outstrip your original gift, making a lasting legacy for your community.
Your endowment will be pooled with other funds held at Kent Community Foundation allowing for a broader spectrum of investments, protection of capital and increased returns.
Kent Community Foundation handles all the administrative and legal burdens of managing a charitable fund and manages the entire grant-making process, managing applications, due diligence and follow-up monitoring and evaluation.
By investing donations, the benefit to the recipients is magnified beyond what the donor might have been able to give during his or her life.
About Colyer-Fergusson Charitable Trust
Colyer-Fergusson Charitable Trust is an independent grant-making trust which supports charitable activity in Kent. The Trust’s overarching aim is to improve the lives of people in Kent, and in particular those who are most disadvantaged. Sir James Colyer-Fergusson was a generous philanthropist who set up a Charitable Trust in 1969. For fifty years, the staff and Trustees of Colyer-Fergusson Charitable Trust have been working to make Sir James’ vision a reality, supporting hundreds of projects to improve the lives of people in Kent. This new Match Fund is a very significant way to celebrate their fiftieth anniversary by incentivising other philanthropists in Kent to follow in Sir James’ footsteps and establish their own charitable funds with Kent Community Foundation.
For more information about the Colyer-Fergusson Charitable Trust visit www.cfct.org.uk