A grantmaker based in Merseyside has transferred all its £25m-worth of assets to another funder and plans to close as a separate charity.
The Pilkington Charities Fund, which registered in 1964 after being established by the founders of the eponymous Lancashire-based glass business, announced this week that it would be transferring the assets to the Community Foundation for Lancashire and Merseyside (CFLM).
It will continue to exist as one of CFLM’s named funds and will give out over £800,000 every year to charities and community groups in Merseyside, according to the announcement.
The fund will support projects tackling poverty and ill health, with priority given to organisations based in St Helens, where the Pilkington glass business was first founded.
From 3 July, the newly transferred fund has been offering grants of up to £20,000, which includes support for core costs.
Pilkington Charities Fund to wind up
The asset transfer is the largest in the history of the UK Community Foundations network, of which there are 47 across the country.
The agreement follows three years of discussions and due diligence by the trustees of the Pilkington Charities Fund.
CFLM confirmed that the fund will exist as a named fund, with grants from the ringfenced fund remaining available for their intended purpose and for charities predominantly passed in and around Merseyside and Lancashire.
However, the independent registered charity, Pilkington Charities Fund, will now be wound up.
Neil Jones, chair of the Pilkington Charities Fund, said: “As trustees, we are acutely conscious of the Pilkington heritage and of the region that the trust was established to support.
“With the demands and complexity of today’s voluntary sector, we believe that the skills and focus of the Community Foundation for Merseyside will ensure that the trust’s purposes will be met with renewed vigour.”
