Here she explains why income from Trusts and Foundations is critical, but highly competitive.
Many charities have continued to provide their services against a backdrop of reduced income due to the Covid-19 crisis. The emergency funding response has, in many cases, steadied the ship through unchartered waters. Trusts and Foundations, in particular, have been quick to act to support charities during the Covid-19 crisis, offering flexibility, collaboration with other funders, streamlined application processes and quick decisions, helping many charities survive.
So what’s next?
With the recent news, that 1 in 10 charities expect to face bankruptcy and an estimated £10bn loss to the sector (Guardian Online 10/06/20), we fundraisers ask ourselves, what next?
With lockdown restrictions beginning to ease, it will be a while before face-to-face fundraising incomes streams, such as corporate, community, events and major donor, build back up again. The next move for many charity CEO’s and their Grants and Trusts fundraisers is, therefore, to ensure that they are maximising their income from Grants, Trusts, and Statutory funding sources to help them transition back into the next phase.
From our discussions with funders in the sector, we know that many trusts who have halted their funding will begin to meet again in late Summer/early Autumn. We also know that major funders like The National Lottery Community Fund, Children in Need and Comic Relief have set aside significant funding to support those affected by Covid-19.
Other trusts have changed their criteria to deal specifically with the fallout of the Covid-19 crisis in areas of employment, domestic abuse, health and wellbeing, and support for vulnerable people of all ages. Competition will be fierce, with some trusts earning less money through their investments and donations due to the crisis (while other will have flourished).
At BTA, we want to help charities ensure that they are maximising their income through Trusts, Foundation and Statutory funding. We know that competition for these new, or revised funding sources will be significant and particular expertise will be required to access this funding. BTA have this expertise. Our services include:
• Trusts and Foundation Audit
• Trust and Foundation Strategy
• Grants and Trust Prospecting
• Grantwriting and Submissions
• Mentoring for existing Grants and Trusts Fundraisers.