14 June 2011
Saffron Building Society now welcoming applications to new Charitable Fund
Following Saffron Building Society's excellent work in support of local charities in 2010, 2011 sees the establishment of the Saffron Building Society Community Fund.
The endowed Fund has been set up with Essex Community Foundation (ECF), an independent charitable trust which manages Funds on behalf of companies, individuals, trusts and public agencies. ECF will administer the Fund in accordance with the Society's wishes to support voluntary and community organisations in Essex which are close to its members' hearts.
The Society established the Fund with an initial contribution of £10,000 in December 2010 and was fortunate to benefit from matched funding of £5,000 under the Grassroots Grants and Endowment Match Challenge which ECF managed until March 2011. The Society plans to make further contributions to grow the Fund and will be encouraging staff to be involved by raising money through various fundraising initiatives. Voting at the Annual General Meeting will also add a further 20p per vote to the Fund.
Grants will be awarded annually from the Fund to voluntary and community organisations working in Essex and in areas where the Society has a presence. ECF will present applications to the Society's Advisory Group; a group consisting of Saffron staff and members, who will make decisions on what causes to support.
The Advisory Group will be acting on the wishes of the Society's membership, as expressed through the annual Members' Survey. Earlier this year, members said they wanted to support the elderly, children and young people, the seriously ill and local community projects. With these categories in mind, ECF will receive and assess applications and provide a short list for consideration by the Advisory Group.
Sara Andrews, Society Secretary said: "Through the generosity of our staff and members we have been able to raise significant sums for charity in recent years. The Society has a long-standing commitment to good causes within our local community, and it is our hope that the establishment of this endowed fund will give us a focus for our fundraising and community activities now and in the future." She added "The Society has established this Fund for the long-term and working with ECF, sharing their knowledge and expertise of charitable needs in Essex, will enable us to have confidence that the money we distribute locally will have the maximum impact."
For more information about Essex Community Foundation and for organisations that would like to apply for a grant visit www.essexcommunityfoundation.org.uk
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