£90 million more for Futurebuilders
Howard Lake | 28 March 2005 | News
The Home Office has announced £90 million of additional funding for Futurebuilders, the investment fund for the voluntary and community sector.
Futurebuilders provides long-term investment in voluntary and community organisations that are capable of delivering public services. The new injection of capital brings the total size of the Futurebuilders fund to £215 million. It will allow the fund to continue to provide loans and grants until 2008, with Futurebuilders intending to make up to 150 investment offers each year.
The additional £90 million will be provided following the initial investment, with £45 million provided in 2006/07 and a further £45 million in 2007/08.
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Futurebuilders announced in February its initial 15 investment offers from the first round of applications and a further 100 investments are expected by the summer. The second application window opens on 1 June 2005.
Futurebuilders’ new website will launch on 5 April and contain detailed information and tips about applying.
By March 2006, Futurebuilders will have received all of the £125 million funding provided under its original agreement with the Home Office.
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.