Trustees in Wales encouraged to put £12m of dormant funds to use

The Charity Commission and Community Foundation Wales is calling on trustees to come forward and seek support to unlock £12m of dormant assets.

Backed by Welsh Government, the commission has launched the Revitalising Trusts Programme, urging trustees of inactive charities to come forward for support to put their charitable funds to good use.

The Charity Commission and Community Foundation Wales will support trustees to release inactive funds, redistributing these to good causes across the country through Community Foundation Wales. Alternatively, the Commission will support trustees to “breathe new life” into the charity, for example by changing their charitable purpose.

Charity trustees who find it hard to recruit new trustees, spend the charity’s income or assets, identify beneficiaries, or find time to run the charity should contact Revitalising Trusts for support, a statement has said.

This includes charities who have not spent any money in the last five years, or who have spent less than 30% of its income in the last five years.

Richard Williams, chief executive at Community Foundation Wales said: “We realise that receiving a letter from the charity regulator may cause concern to trustees, but this is where Community Foundation Wales can help and support. There is no reason for this to be stressful, it can actually be a very positive experience for the trustees involved and their community. We can help the Trustees to change the charitable purpose of the trust or by releasing inactive funds and redistributing them to communities across Wales. We know Trustees worry about inactive funds. We can help them through this programme to ensure they are within Charity law and that their communities benefit as was originally intended from their funds.”

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