Bdaily, May 2015
A fund supporting the future development of charities, support groups and voluntary organisations throughout the North East has secured a three year extension.
The Northern Rock Foundation has supported the sustainability of the voluntary and community sector through the Fresh Ideas Fund, helping 60 organisations explore new ideas and opportunities for income generation and new services since 2011.
Now, the foundation has announced the fund will continue for the next three years, until 2017, after awarding £3m to a new regional foundation; the Northstar Foundation, to carry on this grant programme.
Alastair Balls, chairman of Northern Rock Foundation, said: “Trustees are pleased to be able to continue to provide some much needed grant funding for charities for the next three years.
“We hope that the relationship between the Northstar Foundation and the Community Foundation will strengthen links between business and the voluntary sector that will have long lasting benefits.”
The fund will provide successful applicants with up to £50,000 to fund a feasibility study, apply for expert, specialist advice and cover start-up costs and a mentor from Northstar Ventures will also be on hand at each step of the way with expert advice and support.
The Fresh Ideas Fund will be run by the Northstar Foundation, working with the Community Foundation for Tyne and Wear and Northumberland.
This award is one of a number of large legacy grants and awards Northern Rock Foundation is making this year.