- Advertisement -

PROUD SUPPORTER

Friday, 18 September 2020

CHARITY TODAY AWARDS

£5m boost as City Corporation calls on firms to support COVID-19 fund

- Advertisement -
LONDON’S largest independent funder has handed a £5 million boost to a coronavirus emergency fund – and is urging businesses to dig deep to help good causes facing a ‘perfect storm’ caused by the pandemic.

The cash from City Bridge Trust, the City of London Corporation’s charitable funder, brings its total pledge to the London Community Response to £6 million.

However, with demand for grants outstripping funding available, hundreds of charities, community groups and social enterprises could miss out on much-needed money to help them weather the COVID-19 storm without further support from businesses and individuals.

The initiative was launched in March, supported by City Bridge Trust and the Mayor of London, Sadiq Khan, and co-ordinated by third sector membership body London Funders.

So far, a total of £23.3 million has been pledged to help charitable, community and social organisations across London, but most of that money has already been allocated, meaning remaining funds could run out soon.

Dhruv Patel, Chairman of the City of London Corporation’s City Bridge Trust Committee, said:

“It is often said that a crisis brings out the best in people, and the response from many public and private sector organisations across London in rising to the challenge posed by COVID-19 has been fantastic to see.

“However, the charities, community groups and social enterprises which are working tirelessly on the frontline of the crisis face a perfect storm of rising demand for their services at a time when they’re facing unprecedented financial pressures due to loss of income.

“While there have been some challenges, businesses in the City and across London who are able to help have responded magnificently, but more money is needed – now more than ever – to ensure charities and other groups can continue their work on the ground supporting communities and vulnerable people.”

The latest major employers to provide funding to the London Community Response are global financial services organisation Macquarie Group, which has given £500,000, and Bloomberg, the global business and financial information and news leader, which has donated £1 million.

Paul Plewman, Chief Executive Officer for EMEA at Macquarie said:

“We are extremely proud to be named among other London Funders, standing behind our local not-for-profit sector at this increasingly challenging time. Since our London office first opened in 1989, our Group Foundation has been committed to supporting the local community.

“Over this time, we’ve found great success collaborating with other funders through organisations such as Islington Giving and now London Community Response – maximising our impact by working together.”

Jemma Read, Global Head of Corporate Philanthropy, Bloomberg L.P. said:

“As attention turns to reopening our city, London’s business community has a unique and important role to play in helping to financially support the sector. Over the coming weeks, we are looking forward to working with Macquarie and the City of London Corporation to convene a group of leading businesses from across the City to discuss our collective response.

“We will explore how we can help to safeguard the future of London’s non-profits, including adopting new funding mechanisms to meet the unprecedented demands placed on the sector during this time.”

For more information on the London Community Response, go to londoncommunityresponsefund.org.uk

- Advertisement -
- Advertisement -

Stay Connected

1,362FansLike
1,834FollowersFollow
30,062FollowersFollow
1,200SubscribersSubscribe

Must Read

New report: How to tackle climate change through community action

THE National Lottery Community Fund has today published a new report sharing learning and insights from recent environmental projects made possible thanks to National...

Famous faces show their support for first-ever virtual RBC Race for the Kids

HARRY Potter star, Jason Isaacs, Downton Abbey actor, Matt Barber, Great British Bake Off favourite, Candice Brown and actor, Michelle Collins will be pounding...
- Advertisement -

Employment News

The Big Issue makes two new appointments

THE Big Issue is expanding its reporting team with the appointment of a new Digital Editor and the newly created role of Digital Producer. Alastair...

New asbestos-related cancer nurse specialist appointed for South Tyneside and Sunderland

JOANNE Anderson has been appointed as a new Mesothelioma UK Clinical Nurse Specialist at South Tyneside and Sunderland NHS Foundation Trust. Joanne will be...

Seven new Trustees announced at Guide Dogs

GUIDE Dogs have welcomed seven new Trustees at their recent AGM. The Trustees join ahead of the charity’s 90th anniversary year and are committed to enabling...

Related News

Auntie’s fundraising for miracle baby Kayleigh

THE auntie of a young baby who was operated on during her birth has fundraised for a Manchester hospital which helped save her niece’s...

Revolutionary piece of equipment will support surgeons operating during pandemic

LEEDS Cares funds revolutionary piece of equipment to help support surgeons operating during the pandemic. Leeds Cares has announced that Leeds Teaching Hospitals is now...

Samaritans appoints Keith Leslie as new Chair of Trustees

THE leading suicide prevention charity in the UK and ROI has appointed Keith Leslie as the new Chair of Trustees at Samaritans. Keith joins Samaritans...

Mind launches education inquiry

YOUNG people with mental health problems are at severe risk of being left behind by the education system, the charity Mind has warned. As teenagers...

For Baby’s Sake Trust debut powerful new film about domestic violence

THE For Baby's Sake Trust (formerly the Stefanou Foundation) is calling on the government, local authorities and charities to look at what new approaches...
- Advertisement -
X