A match funding opportunity
HACT is coordinating a consortium bid from housing associations that would match fund any new grants made to local charities.
The Community Match Challenge is a new initiative from the Government, consisting of £85million that will be used to match new funding from grant-making organisations to local charities and voluntary sector organisations.
Many social housing organisations give grants to local charities and in the wake of Covid-19, this funding is needed more than ever. Following discussions with a number of housing associations, HACT is coordinating a consortium of housing associations so that we can make a bid to the Community Match Challenge in the region of £5 million.
There is a very tight turnaround in the application process: the fund was announced on 18 July and bids are due to be submitted on 2 August.
As a first step, we are compiling expressions of interest from housing associations, along with the amount of money they would like to be match funded. We are inviting interest from any English housing association for expressions of interest of £50,000 and over.
This match funding will only apply to new grants you make to charities. It cannot be used for any grants you have already made to charities. The amount and number of grants you want to include for match funding will be up to you. We will expect you to manage the distribution of this money.
The match funding from the Government has to be spent in this financial year, but your part does not. The DCMS state this will give charities greater long-term financial stability.
So we can manage, administer and coordinate the distribution of the match funding, we will require a small administration fee.*
If you are interested in this opportunity to match fund your grant making to local charities, pound for pound, please send an expression of interest, along with the amount you want to be match funded to Adam Chester by close of play on Tuesday 28 July. We will then be hosting an online discussion with interested parties on Thursday 30 July, before submitting the application to DCMS on 2 August.
DCMS have informed us that our proposed consortium bid is exactly in the spirit of the fund. This is an unrivalled opportunity for social housing organisations to double their investment in local communities overnight.
* – please contact us for further information about this