A fundraising initiative by the Irish fund industry hopes to reach the €1 million target next year.
Basis.point is the fundraising and fund distribution arm of the Irish Funds Industry Association which was set up in 2013 to support educational programmes in Ireland. The Association includes many of the leading investment funds based in Ireland.
Basis.point says its vision is to make a sustainable and tangible difference to those living in poverty, particularly young people, by supporting charities that focus on education. The organisation raises money through events such as golf classics, social events and donations from individuals.
The charity’s efforts so far have built up an annualised donation ‘run rate’ in excess of €250,000 which it aims to increase to €300,000 by the end of this year.
— Philanthropy Ireland (@PhilanthropyIE) November 13, 2017
Basis.point is supported by a very large voluntary effort from individuals and companies from all sectors of the investment fund industry supporting the board of directors, six committees and a steering group.
To date commitments totalling over €710,000 have been made to five charities. The charity programmes supported are – Archways for a mentoring project for children, ELI for pre-school education in Dublin and Limerick, Suas numeracy for disadvantaged communities in Dublin, Foroige project to teach entrepreneurship in Cork and a Business in the Community project to improve school retention rates.
According to the website of the Association, investment funds number nearly 7000 in Ireland with over €2 trillion in assets.
— Suas (@SuasEdDev) November 13, 2017
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