WITH the National Council for Voluntary Organisations (NCVO) discontinuing its funding database, leading software company Idox Group has launched My Funding Central – a new service aimed at connecting charities with funding streams.
Idox’s software experts had previously built and managed the NCVO’s grant-finding database. The My Funding Central service replicates the NCVO database but with enhanced features that make it even easier to connect funding streams to the organisations that need it.
My Funding Central’s advanced search engine allows users to explore more than 9000 funders, with new streams being added daily, making it the most sophisticated grant finding database available. 2020 alone saw more than 600 new funding opportunities added to the database.
The My Funding Central service is specifically aimed at charities and voluntary organisations with incomes less than £1 million. The service will be free to use for those organisations with incomes below £30,000. Larger charity and voluntary organisations can still access Idox Group’s GrantFinder service, which works with organisations earning £1 million upwards.
Smaller organisations, in particular, have seen financial positions weakened during the pandemic. Recent research from Nottingham Trent and Sheffield Hallam universities suggests that 39% of voluntary organisations have seen their financial position deteriorate during the pandemic, while 56% expect demand for services to increase and 92% have seen demand increase for online services. A lack of cash reserves and reliance on fundraising events, shops and public donations to balance the books makes the situation particularly precarious for charities and community groups.
Commenting on the launch of My Funding Central, John McLaren, Head of Business for Idox Funding and Information Services, said:
“There are many thousands of small and medium-sized charity and voluntary sector organisations doing vital work in communities across the country. For these organisations funding is key and this is especially so after a year in which the Covid-19 pandemic has hit so many sectors of the economy.
“Those organisations which have previously relied upon the NCVO’s funding database will have been understandably concerned by news that the database is being discontinued. Our message to these organisations is that our team supplied the funding opportunities data behind the NCVO portal and we have taken the best parts of that service and developed them further with the launch of My Funding Central.
“With thousands of funding streams available, better search functionality and ineligible organisations no-longer able to bid for funding via the database, My Funding Central will be an invaluable tool for our customers as they begin the process of building back from the pandemic. Our database is based on relationships with funders, not just the aggregation of existing funding opportunities, and there are therefore funding streams available via My Funding Central that are simply not available elsewhere.
“We are proud of our new product, and to be able to support the charity and voluntary sector, as it continues to support so many vital causes.”