Time for growth

Finance | Ian Allsop | 1 Sep 2005

Community foundations have turned an initial investment of £1 million into £19.5 million of funds. Time for Growth, a challenge established by a Esmee Fairbairn Foundation through a grant to Community Foundation Network, was planned as a period during which the pressures of seeking core costs to support investment for fund development would be lifted. This would enable them to concentrate on building endowments and securing long-term sustainability.

In 2000, ten community foundations each received a grant of £100,000 towards strengthening their staffing with the aim of achieving a combined total of £20 million in new endowment investment over a three-year period. By the end of the challenge, all but three had achieved their target.

In an evaluation, author Christine Forrester found a number of key changes contributed to success, including a shift in the vision, confidence and self-belief in the foundations, the employment of specialist fund development staff, developing personal links with donors and a positive shift in the position of the foundation within its community.

Stephen Hammersley, chief executive of Community Foundation Network, said: "Perhaps the most significant point is the evidence from Time for Growth that a serious investment in the local philanthropic infrastructure can pay a very handsome dividend. This is a real win-win-win situation." See www.esmeefairbairn.org.uk

Directory: Community Foundation Network

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