Powys students to benefit from new charitable fund

(Immediate Release - 16 February 2010)

 

 

 

 

The Charity Commission, the independent charities regulator, has today authorised the transfer of funds worth over £3.3m from Powys County Council to the Community Foundation in Wales to be used to benefit students in secondary, higher and further education in Powys.

The money, which includes historical education funds and sale proceeds of former school sites, had been invested by Powys County Council. As trustee of several charitable funds, the Council has been working with the Charity Commission to ensure that the money is used in the most effective way to help students in Powys.

The Charity Commission supported the proposal that the best way to do this was by transferring the funds to the Community Foundation in Wales, a charity set up to manage dormant and underused charitable funds and dedicated to strengthening local communities by linking donors to areas of local need.

The result is the creation of the new Powys Community Fund, the purposes of which are to provide educational benefits for students in Powys, such as help with tuition fees, course equipment and travelling costs to study or volunteer abroad.

Harry Iles, Head of the Charity Commission’s Wales office, explained:

“The launch of the new Powys Community Fund establishes an important source of support and funding to groups across Powys. The fund has been created through the close co-operation and forward thinking of Powys County Council and the Community Foundation in Wales. The Charity Commission has been delighted to support this move by providing advice and the required legal authority. This initiative is part of our wider work to promote the effective use of charitable resources and we look forward to working with the Community Foundation and local authorities across Wales on similar ventures to unlock the potential of funds that are currently underused.”

Liza Kellett, CEO of the Community Foundation in Wales, said:

“The Community Foundation in Wales has engaged with 10 target local authorities, identified in excess of £6m of qualifying dormant and ineffective trust funds and to date has liberated assets totalling in excess of £4m.

The Foundation’s ongoing success has been enhanced as a result of the excellent relationship fostered with the Wales office of the Charity Commission.”

The Charity Commission has already worked successfully with the Foundation and Newport City Council to create the Newport Community Fund and a similar initiative is currently underway in Monmouthshire.

End.

Notes to Editors

1. The Charity Commission is the independent regulator of charities in England and Wales. See www.charitycommission.gov.uk for further information or call our contact centre on 0845 300 0218.

2. Our mission is: to ensure charities’ legal compliance, enhance charities’ accountability, encourage charities’ effectiveness and impact and to promote the public interest in charity.

3. Community Foundation in Wales is a registered charity (reg. no. 1074655). See www.cfiw.org.uk for more information or call 02920 536590.

4. The Charity Commission’s Wales office is on the 8th Floor, Clarence House, Clarence Place, Newport, South Wales, NP19 7AA

5. In January 2009 the Charity Commission published a report on the Welsh charitable sector, A snapshot of charities in Wales. The report includes a range of previously unpublished information on the activity of Welsh charities registered with the Commission, including the following key findings:

  • There are just over 9,000 registered charities in Wales;
  • They have a combined income of just under £1bn;
  • 90% of them carry out their work solely in Wales.

6. This press release is also available in Welsh.

For further information on this story please contact the press office on 020 7674 2332

PR 11/10

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