The Guernsey Community Foundation is giving local philanthropists a new way to make a difference.
To mark the culmination of its tenth anniversary celebrations, the Foundation is to create an endowment fund into which benefactors can make one-off donations that, over time, will create long term benefits for our community.
As the fund grows, it will generate ongoing income and capital gains for distribution to local charities via the Foundation’s pre-existing Grants Programme. This extra injection of funds in the programme will allow the Foundation to give charities support to plan and implement their strategies over a sustained period, enabling them to focus on the delivery of core services, rather than having concerns over where the next cheque is coming from.
Sir Richard Collas, the Chair of the Guernsey Community Foundation said: “The Foundation has given charities millions of pounds over the last ten years. But we want to do more, and the endowment fund – the culmination of a lot of work behind the scenes – is our way of doing just that.
“Since 2011, the Foundation has had the support of a number of very generous long-term donors, each making a contribution year after year. With the launch of the endowment fund we’re hoping to attract a new generation of philanthropists: people who like the idea of giving a single sum of money in the knowledge that it will generate multiple future payments to the charitable sector.
“The endowment fund means that by giving once, donors can, in effect, give time and time again. The Foundation has already taken receipt of a sizeable donation. Over the coming months it plans to seek further contributions from individuals, corporates, family offices and of course from legacies”.
The driving force behind the fund is Rupert Dorey (shown in the main picture), who joined the Foundation as a director in 2019.
Rupert said: “Our expectations are that the fund will grow to around £5m in five years and hopefully to around £20m plus in the next fifteen years. The phrase ‘Giving while living’ perfectly encapsulates the desire for donors to make a real difference in the community in which we live, and to allow them to enjoy first-hand the benefits of their generosity during their lifetime”.
As far as Sir Richard is concerned, there has never been a better time to help the island. “Plans for an endowment fund were in train before anyone had even heard the word Covid. But the pandemic has left the Bailiwick in greater need than perhaps ever before. It is inevitable that in the coming months and years, the charitable sector – which is already expected to do so much with so little – will have an even bigger role to play in supporting Islanders.
“Our message to anyone who wants to offer their financial support, including those who have recently moved to the island, is simple: come and talk to us, and let us help you make a difference”.