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Irish investment industry makes €500,000 donation

Irish investment industry makes €500,000 donation

Basis.point, the Irish Fund industry’s charitable arm, has committed €500,000 to three educational projects.

The basis.point funding has been given to the Early Learning Initiative (ELI), Foróige and Archways and brings the total currently committed to €1.9 million. This is benefiting children across the educational system from 18 months to 18 years.

Edel O’Malley of basis.point said: “It is a privilege to deepen our existing relationships with such inspirational educators. ELI and Foróige provide an extraordinary resource for our communities and through our programmes, each year we will positively influence the lives of over 70 families and educational aspirations of over 3000+ young people.”

Basis.point started supporting the ELI in 2015. Following positive feedback on the ParentChild+ (formerly Parent Child Home Programme) basis.point increased its funding in 2017, allowing ELI to train additional home visitors in order to increase the capacity of families that could be accommodated in the programme.

The latest grant of €225,000, as part of the €500,000 allocation, will allow ELI to continue to run the ParentChild+ programme in Dublin and Limerick and expand the programme to include Ballinasloe in County Galway.

Matched funding

The ELI will also benefit from a co-funding agreement where €25,000 from basis.point will be matched by real estate company Kennedy Wilson over a five year period, to support the Home from Home programme, aimed at vulnerable families living in temporary accommodation.

The second tranche of funding to Foróige will support the running and further rollout of  the Network for Teaching Entrepreneurship programme.

A supplementary grant of €30,000 has been allocated to Archways to facilitate some refinements that will enhance the effectiveness of their programmes in Wexford and Kilkenny and run an additional mentoring training course in Cork.

Archways will also benefit from a €25,000 co-funding agreement with Kennedy Wilson.

Aidan Tiernan, Chairman of the Disbursements Committee, said: “These latest grants further ensure that we are supporting educationally disadvantaged children through-out the whole of Ireland, with over 60% of our investment now allocated for children living outside of the Dublin area.”

Currently basis.point has over 300 patrons and supporters in the industry and is supported by asset managers, service providers, professional firms and independent directors of the Irish Investment Fund and Asset Management Industry.



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