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Community Wealth Fund

Help us to make it a reality: Join the Community Wealth Fund alliance

January 2019

The Community Wealth Fund alliance is a group of voluntary sector organisations, independent funders and sector initiatives that are supporting the call for a new multi-billion pound national endowment to support deprived communities.

"How can we bridge divides and address the feeling of being 'left behind'? Our proposal envisages the creation of a Community Wealth Fund, providing long term, patient investment in support of place-led change - a fund to create opportunity and unlock the power of communities."

Your organisation or partnership can join the alliance here


Our proposal is that the endowment should provide long term investment (10-15 years); that local people should be in control of the spend to ensure it reflects their aspirations and creates a legacy of positive change in their areas and that appropriate support is provided to communities to build confidence and capacity.

Such a fund would require significant investment but it could be financed by the next wave of dormant assets from insurance and pension policies, bonds, stocks and shares matched with investment from our larger companies. Our aspiration is for a new, radical and ambitious partnership between government, the private sector and civil society to ensure that every community shares in the country's wealth.

We've started the process and now significantly more consultation and dialogue are needed to develop and strengthen our proposals.

Community Wealth Fund alliance reception

Podcast producer, James Peak, speaks to attendees at the Community Wealth Fund alliance reception hosted by the Calouste Gulbenkian Foundation on 16 January 2019.

The context

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The proposal aims to meet key ambitions set out in the government's Civil Society Strategy by:

  • creating substantial place-based investment programmes
  • introducing a new model of investment bringing together finance from a range of sources to raise social and economic outcomes
  • developing new approaches in communities that have not benefited from growth and where there is a lack of capacity and capability to access investment.

It asks the government to go further than the £35m identified in the Strategy by committing the next wave of unclaimed financial assets to a new £1-2b endowment to support left behind communities. The proposal identifies unclaimed assets from bonds, shares, insurance policies and pension funds, supplemented by other dormant assets including those trapped in charitable trusts whose purposes are no longer feasible. An endowment of this kind, which the alliance believes could also attract corporate support, might over time value in the region of £5b.

Alliance members

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Founder Funders

The following organisations have joined the alliance and endorsed the Community Wealth Fund proposal:

Access – The Foundation for Social Investment
Action Homeless
Age UK Doncaster
Arches Local
Association of Charitable Foundations
Association of Chief Executives of Voluntary Organisations
Barnfield Big Local
Barrowcliffe Big Local
Basingstoke Voluntary Action
Building Communities Trust
Buttle UK
Calouste Gulbenkian Foundation
Carnegie UK Trust
Catalyst Support Limited
Catch22
Centre for Mental Health
Charities Aid Foundation
Charity Finance Group
CIQ Agency
Clarion Housing Group
Cognitive Paths
Community cvs
Community Ventures
Communities 1st
Community Infrastructure Group CIC
Co-operatives UK
Croydon Voluntary Action
Create Streets
Devon Community Foundation
Directory of Social Change
Dorset Community Foundation
Food, Farming and Countryside commission
Forum for the Future
Friends of Eastwood Park
GL Communities
Gloucestershire Community Foundation
Groundwork
Halifax Opportunities Trust
Harpurhey Neighbourhood Project
Heswall Disabled Children's Holiday Fund
Home Start West Berkshire
Impact Hub Birmingham
Joseph Rowntree Foundation
Kingswood and Hazel Leys Big Local
Leapfrog Finance
Leicester Community Services
Locality
London Communities Commission
London Funders
Mablethorpe, Trusthorpe and Sutton on Sea Big Local
Macc
Matchmothers
New Citizenship Project
National Community Land Trust Network
NAVCA
Network of Wellbeing
Newcastle CVS
New Economics Foundation
No5
Ore Community Centre
Peterborough Environment City Trust
Place Shapers
Purple Elephant Productions
Self Injury Support
Shared Assets
Shores Centre
Small Charities Coalition
Soha Housing
Sporting Force
Social Enterprise UK
Social Investment Business
Stir to Action
St Matthews Big Local Leicester
Streetlight UK
The Access to Justice Foundation
The Bevy Pub
The Cellar Trust
The Curiosity Project CIC
The Diana Award
The Panel for the Civil Society Futures Inquiry
The Young Foundation
Three Parishes Big Local
Trust for London
UK Community Foundations

Up Our Street
Voice4Change
Voluntary Action LeicesterShire
Voluntary And Community Action Trafford
Voluntary Organisations Network North East
Wales Air ambulance Charitable Trust
Westway Trust

Beyond Community Wealth Fund - Shared Prosperity

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Alongside the Community Wealth Fund proposal, the alliance has been developing a response to the government's Shared Prosperity Fund (the UK replacement for EU structural funds). This is because the communities we are concerned about will need tailored support to enable their economic development.

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2 Jan 2019: Our office is open but our phones are not working. Please email us at info@localtrust.org.uk while we fix them and we will respond to messages as soon as we can.

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