Community organisations in Barking and Dagenham are set to benefit from a new endowment fund, to be transferred by the Council to Barking & Dagenham Giving.
In what is a significant moment for the council and the community, this endowment fund will create a permanent, inclusive, and sustainable source of income for the local community and will help to create a lasting legacy for the borough.
The council is the first in London to endow a place-based giving scheme, with an initial injection of £650,000, with additional funds to be made available at the end of this financial year. The fund will be invested and added to with the return being available to support local community groups.
Transferring the endowment to place-based giving charity, Barking and Dagenham Giving, reflects the Council’s commitment to partnership working and increased participation with residents. BD Giving exists to improve the way local people and organisations work together by taking a new approach to involving local people in decision making, building new relationships to increase and distribute resources, and creating a platform for local voices to be heard.
Residents are invited to attend a celebratory event to share their ideas and ambitions for Barking and Dagenham on 26 January 2021. More information to follow in the new year.
Deputy Leader and Cabinet Member for Community Leadership and Engagement, Cllr Saima Ashraf said:
Géraud de Ville de Goyet, Chief Executive of BD Giving said: