Aviation finance company provides over €700,000 for youth club
Howard Lake | 18 November 2019 | News
An Irish aviation finance company has donated €710,000 over three years to a Dublin inner city youth club.
Belvedere Youth Club (BYC), which provides comprehensive youth services to disadvantaged children and teens in the North East Inner City, announced that it is to receive funding from SMBC Aviation Capital, based in the International Financial Services Centre (IFSC), to undertake a ‘transformational legacy project’ in its facility based in Dublin 1.
The corporate funding, officially announced by Minister for Finance, Paschal Donohoe TD at an event in BYC, was managed through The Community Foundation for Ireland. The funding will facilitate refurbishment works and the creation of a hub for restorative practice in Ireland.
According to SMBC Capital, BYC was selected because of the impact the funds will have on the local community and the selection was based on a number of criteria, including sustainability, feasibility, governance and fit. BYC is located close to SMBC’s offices in the IFSC area.
Minister for Finance, Public Expenditure and Reform, Paschal Donohoe, TD said: “Today’s announcement marks a clear declaration from corporate Ireland of the role that companies can play in improving the lives of those in the IFSC catchment area, through the delivery of much needed supports”
BYC provides homework facilities, a recreational space for sport, art and drama and a hot meal for between 70 – 90 children and teenagers daily. The charity was originally set up by Belvedere School over 100 years ago, but is now run independently.
“Our vision is that BYC will now become a hub for Restorative Practice for communities across Ireland and today’s announcement and the financial support of our partner, SMBC Aviation Capital, will allow us to bring this ambition to life,” said Andrew Condon, Chair of BYC.
Much excitement here today as @SMBCAVIATION grants over €700,000 to Belvedere Youth Club. @Paschald announces at an event this morning #philanthropy pic.twitter.com/wRHKk399jT
— Community Foundation Ireland (@CommunityFound) November 15, 2019
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Peter Barrett CEO of SMBC Aviation Capital said this will be their largest single investment in support of local communities, forming part of our ongoing, long term commitment to making a meaningful difference in the communities in which they operate. He said their employees look forward to working closely with BYC over the next three years in the development of this hub.
SMBC’s principal activity is leasing and trading aircraft, with a focus on commercial jet aircraft. The company manages a fleet of 730 aircraft.
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.