The Finance Hub is developing financial sustainability in the Third Sector within England. We are addressing finance matters in the Third Sector through the delivery of an integrated programme of research, development, training and information dissemination.
Set up as part of the government’s ChangeUp programme, funded by Capacitybuilders to increase capacity in the sector, it is one of six National Hubs offering support and information.
Guided by a consortia of 13 organisations, a broad range of expertise is represented on the board spanning grant aid, sources of finance, procurement and income generation. CAF is the accountable body for the Finance Hub. Funding for the Finance Hub has been confirmed until March 2008.
Vision, mission, aims and audiencesOur vision is “VCOs which are effective and independent because they are financially sustainable.”
Our mission and outcomes for the period 2007-08 is for:
VCOs to understand how they can grow and diversify income
Funders to make best use of their resources through intelligent funding
Infrastructure Agencies to have access to skills, knowledge and resources they
require to support VCOs on funding and finance issues
Our overarching strategic aims for 2007-11 as:
increasing funding to the sector
improving effectiveness of resource management
The key audiences for the work of the Finance Hub are:
Frontline VCOs specifically, small local, small national and social enterprise
Funders and policy makers
We aim to target hard to reach groups through all of our work. Consideration is given to engaging a diverse audience including amongst others: BME, faith-based and rural organisations.
Grants come from
Charitable Trusts and Foundations,
Public Bodies, and the
Grants are gifts of money - they are generally tax exempt and do not have to be re-paid. But they may come with conditions; commonly these would include:
to be spent on a particular activity
to be spent within a particular timescale
to achieve particular results or outcomes
any underspend to be paid back to the funder
Failure to meet any specified conditions may lead to the funder asking for the money back.
Grants from the public sector will almost always have conditions, and sometimes these may be quite demanding. Grants from other sources will vary more widely.
Donations generally come from individuals or companies and may be regular or one off, raised through events, or left as a legacy in a will. They are often given to benefit the work of the organisation generally, or they may be given in response to a particular ‘appeal’ for a specific project. In this case, the donation must be spent on this project, unless permission is given by the donor to apply the funds to other work.
Charities Aid Foundation, St Andrew's House, 18-20 St Andrew Street, London EC4A 3AY