Somerset Community Foundation has won the contract to manage the Government’s Grassroots Grants Programme in Somerset until April 2011.

Under this programme the Foundation can match most new donations to our Endowment Fund –whether they are Named Funds or Somerset Ambassador donations. For every £2 we receive £1 extra will be added.

If we raise £1.02m the Government has pledged to add £510,000 to this...all for the long-term benefit of Somerset Communities.

For individuals, we may be able to add gift aid to donations and match gross donation which makes the scheme even more attractive, for example:

Higher Rate Taxpayers will also be able to claim back 25% of their initial donations in tax relief, so SCF would benefit from £1920 at a cost to the donor of only £750.

For Businesses we can add 50% to donations, but they can claim Corporation Tax Relief on their gift. So, the Foundation could double the net value of a corporate donation under this scheme.

Donations from individuals, businesses and - in some cases – trusts will be eligible. The only restriction beyond this is the donation and match funding is invested to provide a regular and sustainable income to support community-led projects, today and for generations to come. We will not spend the actual donation, instead we will retain it as an long-term community asset.

Summerfield Developments have already set up a Named Fund under this programme (see news). By the end of the programme their £25,000 fund will be worth over £37,000.

Of course we recognise that not everyone who might wish to join our community of donors is in position to set up their own Named Fund. The Ways to Give page describes the alternative schemes available to donors, or we are very happy to receive one-off donations.