Community Endowment Fund
Investing with and for the Barking and Dagenham community
Barking and Dagenham’s new community endowment fund will create a perpetual, inclusive, and sustainable source of income for the local community.
This innovative partnership between the council and Barking and Dagenham Giving will see the local community take a ‘stake’ in deciding how resources are invested, and how the income generated through these investment is spent.
A lasting legacy for the borough
The money comes from something called the Neighbourhood Community Infrastructure Levy, a fee paid by developers of new building projects in an area, which is collected by Barking and Dagenham Council on behalf of the community.
Part of those fees fund the Neighbourhood Fund, which community groups can apply to with grants worth up to £10,000.
The endowment, which is entrusted to BD Giving, will complement this investment in the community with a mechanism that will create a lasting legacy for the borough.
Because an endowment is an investment, rather than a grant, it’s not going to generate immediate returns and the returns will be modest initially. However, over the next ten years, the borough will continue to see considerable growth in the form of new developments and infrastructure.
BD Giving will build on this opportunity by using the endowment to encourage additional donations and investments that will top up the fund before the programmed development in the borough slows down in the 2040s.
This is why it is so important that we agree on strong foundations for this mechanism, to ensure it can act as a new form of collective empowerment for our social sector.
There will be several opportunities for you to get involved in making the Community Endowment Fund a reality.
The first step: local people are invited to help us shape the investment policy. We’re going to do that in two online workshops in the first week of March. You only need to sign up for one as it will be the same workshop run twice, so that as many people as possible can get involved.
Sign up here:
Late to the party? Read the story so far...
Barking & Dagenham Council gives power to the people with transfer of significant endowment to BD Giving
Community organisations in Barking and Dagenham are set to benefit...Read MoreDecember 15, 2020