Foundation invests £500,000 in charity bank
Howard Lake | 10 January 2008 | News
Community Foundation Northern Ireland has announced a £500,000 capital investment in Charity Bank. The funds will help Charity Bank to increase its affordable social loans to community organisations, charities and social enterprises in Northern Ireland.
Avila Kilmurry from Community Foundation Northern Ireland said the social investment aims to ease the sector’s transition from dependence on European funding and to increase the sustainability and impact of local third sector organisations. In addition, Charity Bank is providing a social dividend to CFNI to help develop staff expertise in building community assets.
“We are delighted to make this innovative investment and look forward to developing our relationship with the Charity Bank in the longer term”, said Avila Kilmurry, director of the Community Foundation for Northern Ireland
Malcolm Hayday, Chief Executive of Charity Bank, welcomed the innovative investment. Says Hayday: “We look forward to developing our partnership, helping productive community asset-building and enabling disadvantaged communities to maximise income-generation. This will also strengthen the Community Foundation’s role as more than a grant-maker both in Northern Ireland and among community foundations.”
Charity Bank is a unique organisation: the world’s only authorised bank that is also a registered general charity. Launched in 2002, it aims to transform the financial landscape of the sector by facilitating a more diverse approach to funding, improving organisational strength, and setting organisations on the road to independence.
Organisations interested in finding out more should contact Fiona O’Toole at Community Foundation Northern Ireland on 028 90245927 or Niamh Goggin, Charity Bank on 07702 835672 for further details.
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.