Share

Education charity offers tender for assets of its flagship programme

Education charity offers tender for assets of its flagship programme
News

Education charity offers tender for assets of its flagship programme

Finance | Tania Mason | 11 May 2012

Enterprise UK, the education charity that is winding up after losing all its government funding, is seeking a charity with similar objects to take over the assets and operations of its most successful programme.

The Tenner programme is a schools-based competition that aims to develop young peoples’ entrepreneurial skills. Each student is loaned a ten-pound note and challenged to make as much profit and social impact as possible through enterprising activities over a period of one month.

At the end of the month students are asked to return the tenner and can keep or donate to charity any profit they made. Awards are given for the biggest social investment, the highest financial return and the best business idea.  In last year’s programme, nearly 27,000 youngsters took part and the highest individual profit was £750.

Enterprise UK has been running Tenner since 2007, so this year’s programme will be the fifth. The charity, which exists to create an enterprise culture in the UK, decided to close its doors after learning in December 2010 that its grant funding from the Department of Business and Skills would not be renewed after April 2011.  

At the end of March 2010, the latest financial year for which figures are published, Enterprise UK had income of just over £6m and 64 employees. Now, the charity no longer has any staff, premises, or current funding arrangements, but it does still have some assets and did not want to see the successful Tenner programme end. So this week it has invited expressions of interest from UK charities with similar charitable objects and a track record of sustainability, who wish to take over the assets and liabilities of the Tenner programme.

Assets will include the Tenner brand and website, a contact database of schools, and full records of previous years’ schemes. It will also include operating capital of around £450,000, though this money will be restricted to deliver the Tenner progamme.

The successful applicant must commit to run the programme for at least three to five more years.

Enterprise UK has appointed Bates Wells and Braithwaite London to oversee the legal process, while the due diligence on applicants will be carried out by an evaluation panel that will make a recommendation to the charity’s trustee board.

Enterprise UK is hoping to complete the transfer on 31 July 2012.

Interested charities should email Mairead O’Reilly at BWB by 25 May.

Comments

[Cancel] | Reply to:

Close »

Community Standards

The civilsociety.co.uk community and comments board is intended as a platform for informed and civilised debate.

We hope to encourage a broad range of views, however, there are standards that we expect commentators to uphold. We reserve the right to delete or amend any comments that do not adhere to these standards.

We welcome:

  • Robust but respectful debate
  • Strongly held opinions
  • Intelligent relevant discussion
  • The sharing of relevant experiences
  • New participants

We will not publish:

  • Rude, threatening, offensive, obscene or abusive language, or links to such material
  • Links to commercial organisations or spam postings. The comments board is not an advertising platform
  • The posting of contact details for yourself or others
  • Comments intended for malicious purpose or mindless abuse
  • Comments purporting to be from another person or organisation under false pretences
  • Gratuitous criticism, commentary or self-promotion
  • Any material which breaches copyright or privacy laws, or could be considered libellous
  • The use of the comments board for the pursuit or extension of personal disputes

Be aware:

  • Views expressed on the comments board are left at users’ discretion and are in no way views held or supported by Civil Society Media
  • Comments left by others may not be accurate, do not rely on them as fact
  • You may be misunderstood - sarcasm and humour can easily be taken out of context, try to be clear

Please:

  • Enjoy the opportunity to express your opinion and respect the right of others to express theirs
  • Confine your remarks to issues rather than personalities

Together we can keep our community a polite, respectful and intelligent platform for discussion.

Free eNews

RSPCA sees voluntary income gradually increase following decline

26 May 2015

RSPCA has seen its income begin to increase, following a dramatic drop of £12m in its previous year’s...

Charities invited to participate in 24th annual Charity Shops Survey

26 May 2015

Charities with retail operations are now invited to respond to the 24th annual Charity Shops Survey, the...

Children's centre numbers fell by 800 after almost £500m of cuts, says Barnardo's

22 May 2015

Almost a quarter of children’s centres across the UK have been forced to close or merge as a result...

Charities invited to participate in 24th annual Charity Shops Survey

26 May 2015

Charities with retail operations are now invited to respond to the 24th annual Charity Shops Survey, the...

Oxfam GB appoints new director to grow major donor fundraising

22 May 2015

Oxfam GB has appointed a new director in a bid to grow income from what it called “high value” partnerships....

DEC appeal raises £65m in under a month for Nepal quake

22 May 2015

The Disasters Emergency Committee’s Nepal Earthquake Appeal has raised £65m since it opened for donations...

Children's Society and NSPCC to improve their digital services

26 May 2015

The Children's Society and NSPCC both said last week they plan to revamp digital services for young people,...

RNLI releases first charity app for the Apple Watch

26 May 2015

The Royal National Lifeboat Institution has today launched what it believes to be the first UK charity...

Marie Curie grows visitor time and donor numbers online by a quarter after digital relaunch

22 May 2015

Marie Curie set out to improve its use of digital after realising that it was “limiting its future”...

Join the discussion

Twitter
 
Training

Attending our one day courses is a highly effective way of ensuring new and existing trustees fully understand their role, responsibilities and liabilities.

>> Find out more <<