Futurebuilders opens for business (05/07/2004)
20.04.2006
Futurebuilders, the £125m groundbreaking government investment fund, backed by the Home Office, to improve public service delivery through long term investment in the voluntary and community sector in England, is officially open for applications.
Richard Gutch, Chief Executive of Futurebuilders, said, “I am delighted that it’s all systems go. The team has worked extremely fast to get us to this position today since the Futurebuilders consortium won the tender just before Christmas”.
Over the next three years the Futurebuilders fund is hoping to invest in around 250 voluntary and community organisations. Investments will range from around £30,000 to several million. In addition a number of development grants of around £10,000 will be allocated to promising applications which require further work.
Futurebuilders, backed by the Home Office will be providing loans and some grants, together with skills training and support, to enable voluntary and community organisations to take on public service contracts. The aim is to improve public service delivery by widening the range of service providers and helping develop their delivery capacity, particularly in more challenging areas of service provision.
All applications to the Futurebuilders fund will be initially processed online the Internet, www.futurebuilders-england.org.uk. The Futurebuilders Investment Plan and Strategic Plan are also now available on the Futurebuilders website.
Futurebuilders also announces today the appointment of Peter Wheeler as the Chair of Futurebuilders. The Interim Chair Geraldine Peacock has stood down to take on a new role as Chair of the Charity Commission.
Commenting on Peter’s appointment Richard Gutch says, “Peter’s extensive experience of investment banking, as well as his strong commitment to the voluntary and community sector will be of enormous value to us all.
I would also like to take this opportunity to thank Geraldine on behalf of the Board and staff for all the work she has done as Interim Chair since January. Her energy and her commitment to Futurebuilders has been a great source of inspiration and strength to us all. We wish her well in her new role as Chair of the Charity Commission, where I am sure she will continue to be a great advocate for Futurebuilders”.
ENDS…. For further information please contact Gerard Silverstone on 0207 6807886
Notes:
1. Futurebuilders is a new £125m investment fund backed by the Home Office established to strengthen the contribution of voluntary and community organisations, including social enterprises, to public service delivery in the key areas of; community cohesion; crime; education and learning; health and social care; and support for children and young people.
2. Futurebuilders aims to make its first investments by the early autumn.
3. Peter Wheeler the new Chair of Futurebuilders, is an investment banker who worked for Goldman Sachs for 16 years and now chairs IPValue Management Inc. an intellectual property licensing company. He is a founder and Trustee of New Philanthropy Capital and Charity Technology Trust and is also a Trustee of Kids Company and on the Investment Advisory Committee of Unltd.
4. More information is available on the Futurebuilders website www.futurebuilders-england.org.uk.
5. The Futurebuilders Consortium members are:
Charity Bank (www.charitybank.org)
- only UK bank that is also a general charity
- has lent over £20 million to voluntary and community organisations in every region of the UK
Unity Trust Bank (www.unity.uk.com)
- fastest growing bank in the voluntary sector
- specialises in providing innovative lending products for the sector
NCVO (National Council for Voluntary Organisations)
(www.ncvo-vol.org.uk)
- is the umbrella body for the voluntary sector in England
- has a growing membership of over 3,500 voluntary organisations, ranging from large national bodies to community groups, volunteer bureaux, and development agencies working at a local level
-Its Sustainable Funding Project, which is undertaking outreach and development work for Futurebuilders, has an excellent track record of enabling organisations to explore new ways of funding their work
Northern Rock Foundation (www.nr-foundation.org.uk)
- leading regional foundation, with headquarters in Newcastle, planning to spend over £24m in 2004
- funded entirely by an annual donation of 5% of Northern Rock plc’s profits
- works to assist disadvantaged people in the North East of England and Cumbria, through grants, loans and training for not for profit organisations.