April 15, 2020 - 1563 views
A third sector resilience fund for Wales has just been announced to help save local charities and not-for-profit organisations from closing their doors for good amid the coronavirus pandemic.
Funding will be given to provide cash flow support for voluntary organisations in Wales are facing challenging and uncertain times.
Everyone has witnessed the amazing response from people wanting to volunteer and by voluntary organisations across Wales. They are doing vital work, giving people and communities the support they need in the face of this crisis – and hoping to provide in the longer term.
Sadly, as demand soars for their services, many voluntary organisations are under threat due to income streams drying up across the board.
Fundraising has been severely reduced as many marathons, charity concerts, and bake sales have been cancelled. Other income generators such as community centres, retail and hospitality services are also no longer possible. Locally one of the North Wales' biggest charities St. David's Hospice have said that they will be fighting for their survival.
To help voluntary organisations stay in business, working with Welsh Government WCVA have introduced the Third sector resilience fund for Wales to provide cash flow support to help organisations through the current crisis.
The fund is part of the £24m of support announced by Welsh Government and will involve a blend of 75% grant and 25% initially interest free loan to be available to incorporated voluntary sector organisations towards the costs of ongoing revenue expenditure, including salaries. Organisations can apply for up to £75,000.
This fund is designed to support those voluntary sector organisations that need financial support to survive the current crisis primarily because of an unprecedented fall in their fundraising and donation income.
If your financial situation is predominately because of a loss in trading income, your first port of call should be the grant support made available by Welsh Government rather than this funding.
There may also be certain sector specific funds available to you e.g. Arts Council of Wales, Sport Wales, etc. However, if there is a reason why you can’t access this support as a voluntary sector organisation then the Resiliance Fund may still be able to support you.
More details about the fund and how to apply, please visit third-sector-resilience-fund-for-wales
