Big Lottery Fund
£1.2m from Dormant Accounts helps secure VCSE sector future in Northern Ireland
In the latest round of grants awarded from the Dormant Accounts Fund NI, 15 voluntary, community and social enterprise (VCSE) sector organisations have received their share of £1,248,814 to support their long-term future. See full details of all groups announced in January 2023.
Delivered by The National Lottery Community Fund in conjunction with the Department of Finance, the Dormant Accounts Fund NI supports organisations to be more resilient and prepared for the future by funding activity that increases capacity and sustainability.
One of the groups awarded funding is Cancer Fund for Children, who are using a £98,500 grant over two years to establish a volunteer strategy, raise the organisation’s profile and set up fundraising hubs, resulting in greater resilience and capacity in the organisation.
Cancer Fund for Children
Phil Alexander, CEO, Cancer Fund for Children, said: “Volunteers play a crucial role at Cancer Fund for Children. The funding we have received from Dormant Accounts Fund NI will allow us to invest in our volunteers enabling us to do more to ensure children and young people don’t have to face cancer alone.
“We will be able to improve our volunteer experience, retain our volunteers for longer and recruit skilled individuals within a variety of roles across the organisation. In the longer-term it will help us become more resilient, raise vital funds and deliver an essential service to families impacted by cancer.”
Since the Dormant Accounts Fund NI grant programme opened for applications in January 2021, £12,709,874 has been awarded to 146 VCSE organisations in Northern Ireland including those in arts, sports, charities and community-based, helping secure the long-term future of the sector.
Another group receiving funding is the Integrated Education Fund(IEF), who are using a £34,413 grant over two years to improve their long-term financial planning through setting up new accounting software that will improve efficiency, provide better reports, help with financial planning and free up staff.
Children from integrated schools supported by the IEF
Tina Merron, Chief Executive, IEF, said: “This grant from the Dormant Accounts Fund NI will make an enormous difference to the financial capacity and efficiency of the Integrated Education Fund. It will provide us with those additional financial tools needed to access data on demand, enabling us to better analyse financial trends, successes and challenges thus helping the organisation react and plan effectively and thus ensuring greater sustainability.
“Demand for our support has never been as high with six new Integrated Schools opening in the past two years and many more schools actively pursuing Integrated status for their school through the Transformation process.”
Application for grants through Phase One of the Dormant Accounts Fund NI will close on Friday 3 March 2023. Applications received before this date will continue to be assessed and funding awards made.
Kate Beggs, The National Lottery Community Fund’s Northern Ireland Director, said: “I’m pleased to announce the latest grants from Dormant Accounts Fund NI, which are helping a range of organisations plan their long-term sustainability, something particularly challenging at this time, so they can continue to deliver vital services in local communities.
“After the programme is closed in March 2023, we will reflect on how we have delivered against policy directions and engage further with the sector to identify and address gaps. We will continue to work with the Department of Finance and ensure feedback from stakeholders informs the development of the next phase, to help secure the long-term future of the VCSE sector.”
For more information on Dormant Accounts Fund NI visit: www.tnlcommunityfund.org.uk/funding/programmes/dormant-accounts-ni.
Grants awarded from Dormant Accounts Fund NI - Jan 2023
Notes to Editors
- Dormant accounts are defined in the Dormant Bank and Building Society Accounts Act 2008 as those which have seen no customer-initiated activity for at least 15 years.
- Under the Dormant Bank and Building Society Accounts Act 2008, the Reclaim Fund releases funds from dormant bank accounts to the National Lottery Community Fund for distribution to good causes across the UK.
- The Reclaim Fund Ltd. (RFL), which was established in March 2011 to receive and invest dormant account balances across the UK, transferred the first tranche of monies from dormant bank and building society accounts to the National Lottery Community Fund on 2 August 2011.
- The National Lottery Community Fund received policy directions regarding the Dormant Accounts Fund NI from the Department of Finance in September 2019.
- The National Lottery Community Fund are the largest community funder in the UK awarding money, raised by National Lottery players, to local communities.
- Since The National Lottery began in 1994, £43 billion has been raised for good causes. National Lottery funding has been used to support over 635,000 projects - 255 projects per postcode area.
- We are passionate about funding great ideas that matter to communities and make a difference to people’s lives. At the heart of everything we do is the belief that when people are in the lead, communities thrive.
Dormant Accounts NI
Dormant Accounts Fund NI will support the voluntary, community and social enterprise (VCSE) sector in Northern Ireland to be more resilient and prepared for the future by funding activity that increases capacity and sustainability.
Original article link: https://www.tnlcommunityfund.org.uk/news/press-releases/2023-01-18/1-3m-from-dormant-accounts-helps-secure-vcse-sector-future-in-northern-ireland
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