Heart of Experian Charity Fund
Of interest to organisations dealing wit ocal Communities, Financial Inclusion, Financial Education, Entrepreneurship, Developing Skills useful in Business
The Heart of Experian Charity Fund was set up to help small groups and organisations which are often not heard but do some great work at grassroots level.
Your organisation, and project, must meet these conditions:
- You must be a school, a charity or a community group, but not a national charity.
- Your project must have a charitable purpose. If you are unsure if you meet this condition, see https://www.gov.uk/government/publications/charitable-purposes
- Your project must benefit the community as a whole and not support individuals.
- If they make a donation, it must make your organisation, or the project itself, more sustainable.
- You must agree to provide a report on your project within 6 months of completion of the project.
They take into account whether your organisation meets the following:
- You had a gross income of £500,000 or less in the most recent full financial year;
- You have a written constitution and a management committee;
- You have your own bank account;
- You have your accounts available on the Charity Commission website or you have provided a copy with your application;
- You have unrestricted reserves that are less than 6 months’ running costs.
They admire these smaller groups for their passion and determination to make a difference and by providing some funding, they help these groups become sustainable or expand their work.
They look for the following when assessing grant applications:
- Projects whose aims relate to financial inclusion, financial education, entrepreneurship or developing skills useful in business.
- Projects that have a long-term benefit for the community.
- Projects for which the organisation has secured match funding or resources from elsewhere, to either (a) reduce the amount applied for here or (b) pay for other project costs.
- Projects that have a clear approach or strategy for attracting future funding or otherwise ensuring the continuation of the project.
- Projects that can demonstrate that they have a project manager with appropriate experience to be able to successfully deliver the project.
- For established projects, any donation that will be used to extend the project beyond its existing boundaries in terms of scope, number of beneficiaries and/or time frame.
- They do not tend to award grants to cover salary costs, unless the group has a clear strategy for its future sustainability.
- Groups that have not received funding from the Charity Fund in the previous 12 months.
In order to be eligible for an award projects/organisations should meet most or all of the above criteria. Failure to meet a number of the criteria won’t necessarily preclude you from being awarded a grant but it will make it less likely. If these criteria are met or largely met your application will then be assessed on its merits.
Your project must require funding of £5,000 or less from the Charity Fund.
Every quarter its Trustees meet to look at the applications received from small organisations throughout the UK.