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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
Association of Chief Executives of Voluntary Organisations
Basingstoke Voluntary Action
Building Communities Trust
Calouste Gulbenkian Foundation
Catch22
Charities Aid Foundation
Charity Finance Group
Clarion Housing Group
Co-operatives UK
Devon Community Foundation
Forum for the Future
Gloucestershire Community Foundation
Home Start West Berkshire
Impact Hub
Joseph Rowntree Foundation
Locality
London Communities Commission
London Funders Group
Macc
Matchmothers
National Community Land Trust Network
New Economics Foundation

No5
Small Charities Coalition
Social Enterprise UK
Social Investment Business
The Access to Justice Foundation
The Panel for the Civil Society Futures Inquiry
The Young Foundation
UK Community Foundations
Voice4Change
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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