Good news for charities operating in Essex this week as the council has announced that it will feed government reward cash back to the voluntary sector.
Essex County Council has become the first local authority to set up an endowment fund with cash received from a government performance reward grant. The bonus payment was made in recognition of the council’s success in reaching their local area agreement targets and will be fed back into the local community as confirmation of the hard work of the local voluntary sector and its “profound effect on the area”.
It is anticipated that the fund, which will be worth roughly £2 million, will open for applications in the autumn and will award £100,000 to local charities and voluntary groups in its first year of operation. The Essex Community Foundation will manage the fund on behalf of the council.
For further information visit:
Essex Community Foundation:
http://www.essexcommunityfoundation.org.uk/
Source: Third Sector
