Summerfield Developments see their donation double in value.

Somerset Community Foundation has received its first major donation towards the Grassroots Grants match challenge thanks to Taunton based Summerfield Developments.

The local firm has pledged to donate £25,000 over the next three years to create their own Named Fund within the Foundation's endowment fund. The Foundation will be able to add another £12,500 to the fund. As Summerfield will be able to claim Corporation Tax relief, the value of the fund will be more than double the net cost to them.

The fund will be carefully invested by SCF Endowment to ensure a sustainable source of income for local grant-making in the Taunton area.

Richard Lloyd, Chairman of Summerfield Developments (far right), said he was "really delighted" to be the first company to support Somerset Community Foundation in the scheme. Justin Sargent, Director of SCF, added "We are very pleased to be entering into this partnership with Summerfield Developments to help make a lasting difference to local communities. The Grassroots Grants scheme is a wonderful and unique opportunity for local businesses and people to add real value to their local giving."

Alongside the endowment fund, the company has also made £6000 available for immediate grant-making in the Taunton area€.

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