NEIL Hamilton MS has welcomed the launch of the Revitalising Trusts Programme in Wales, which aims to release £25 million for Welsh charities
Mr Hamilton, a member of the Climate Change, Environment and Rural Affairs committee,
is now urging charities in his Region to check whether they are eligible.
“I am delighted the Charity Commission, in collaboration with Community Foundation Wales and with funding from the Welsh Government, has launched the Revitalising Trusts Programme in Wales.
“Charities in Mid & West Wales have played a vital role during this pandemic and this revitalised funding will go directly to them.
“This is a fantastic initiative, and I am pleased to join the Charity Commission in encouraging trustees of charities that have inactive funds to come forward so we can revitalise their money and ensure it goes to charities on the front line, providing essential services during this pandemic.”
As part of the programme, the Commission plans to contact over 200 charities in Wales to release a target of £25 million currently lying idle in dormant accounts. The programme works by identifying charities in Wales that are either inactive (meaning they have had no income or expenditure over the last five years) or ineffective (having spent less than 30% of their total income over the last five years).
The Commission then gives the trustees an option to act – with support to help the charity get back up and running if needed.
Otherwise the funds are redeployed to causes in line with the aims of the dormant charity or the trust is transferred to Community Foundation Wales to be managed for the long-term benefit of local communities. In the latter case, the money is granted to charities in need, as well as used to create a regular income stream that will sustain their work to help communities for years. Where charities can no longer operate, they will be wound up and removed from the charity register.
Richard Williams, Chief Executive of Community Foundation Wales, said: “We are delighted to be working with the Charity Commission and Welsh Government to bring this programme into Wales. The grants that will be generated by the Revitalising Trusts Programme will be a lifeline to grassroots charities as they strive to recover from the Coronavirus pandemic whilst continuing to support communities across Wales.”