Charities are set to benefit from a pioneering charity funding scheme making its first appearance in the UK this year.
Rob Wilson, Minister for Civil Society, said the scheme is improving the lives of thousands of people across the UK and has now exceeded £110m.
Giving Tuesday is a campaign first introduced in America and on the first Tuesday after Thanksgiving. It is reactionary to the mass spending during this period, following both Black Friday and Cyber Monday, and aims to celebrate the seasonal tradition of giving – supposedly made possible through the savings of the antecedent days.
Within the UK, the funding pot is expected to grow to over £120m by March next year.The Government has said the money generated from the fund’s investment will be granted to thousands of small local business charities.
Rob Wilson said: “The Community First Endowment Match Challenge is a clever way of donating to charities. Thanks to this £110 million endowment, hundreds of local charities will benefit from this fund for many years to come.
“I’m also pleased to announce today an additional £2 million which is being made available to the Fund. This will encourage a further £4 million from individuals and businesses, enabling the Endowment Match Challenge to grow to £120 million by March next year.
Britain has a long and proud tradition of generosity as a nation and it’s great to see over 700 organisations pledging their support for Giving Tuesday. This day is about people giving back to a worthwhile cause.”
This is the first year for the campaign in the UK, and is being launched by the Charities Aid Foundation with support from Blackbaud.
If you would like further information about funding or how to access donations, please contact Nicklin today for expert advice.