voluntary organisations, social enterprises and volunteering
voluntary organisations, social enterprises and volunteering
voluntary organisations, social enterprises and volunteering
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The Community Ownership Fund
Created: 30/06/2022
News/Events Category: Funding and Finance
The Community Ownership Fund
The UK government is providing £150 million over 4 years to support community groups in England, Scotland, Wales and Northern Ireland to take ownership of assets and amenities at risk of being lost.
Voluntary and community groups can bid for match funding to acquire important assets and run them for the benefit of the local community.
The Fund will run until 2024/25 and there will be at least 8 bidding rounds in total.
A full Fund prospectus is available here.
The Fund has four strategic objectives:
- to provide targeted investment for communities to save and sustain community assets that would otherwise be lost to community use;
- to strengthen capacity and capability in communities, supporting them to shape their places and develop sustainable community businesses;
- to empower communities in left behind places to level up; and
- to strengthen direct links between places across the UK and the UK government
Proposals will need to prove the value of the asset to local people and that the asset can run sustainably for the long-term benefit of the community. The Fund will support a range of community ownership proposals for projects such as:
- sporting and leisure facilities
- cinemas and theatres
- music venues
- museums
- galleries
- parks
- pubs
- post office buildings
- shops
- cultural or heritage buildings
The Community Ownership Fund will target a minimum of £12.3 million in Scotland.
Who can apply:
The Fund will consider applications from voluntary and community organisations from all parts of the UK who have a viable plan for taking ownership of a community asset at risk, and running it sustainably for community benefit.
Applications for funding will only be accepted from incorporated organisations that are set up to deliver charitable purpose, social purpose or public benefit. Organisations must show this through their charitable purpose and/or an asset lock within their governing documents.
More details on eligibility criteria can be found in the Fund’s prospectus.
Match funding requirements:
You are required to raise other sources of funding alongside investment from the Community Ownership Fund. Having a range of funders contributing to your project can demonstrate the quality of the project and the support within the community.
The Community Ownership Fund will contribute up to 50% of total capital required. You will need to set out the total project costs, funding already secured and plans to raise any additional funding needed in your full application.
How to apply:
Stage 1 – Submitting an Expression of Interest (EOI) and securing confirmation to proceed with a full application
Before you begin your EOI, please ensure you are familiar with the eligibility requirements set out in this prospectus.
Stage 2 - Submitting a full application
Once you have passed the EOI stage, you will be invited to submit a full application to the Fund by sharing the application link.
Key dates for the full application bidding windows in 2022/23:
- bidding window 1 – June – 19 August 2022;
- there will be two more bidding windows before March 2023. Exact dates will be announced in due course; and
- each bidding window will close at 12:00 on its respective closing date.
Your full applications must be submitted by 12:00 on 19 August 2022 if you are applying in the first bidding window.
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