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News from around the sector
Community foundations to merge
, Added: 08 August 2008Capital Community Foundation and Thames Community Foundation have announced their intention to merge.
The boards of both organisations have agreed their intention to merge to form one of the largest funders in London. The new community foundation will maintain local panels and grant-making and the day-to-day work of both organisations will be unaffected while the merger is progressed.
Grant Gordon, chair of Thames Community Foundation, said, “This merger is great news for both our donors and the charities and community projects which through us they support. With more funds, a wider geographic reach, only one organisation to contact and greater efficiencies able to be delivered, a single merged Community Foundation will make it easier for charities as well as more effective for donors.”
Both foundations have been awarded a total of £8m from the Office of the Third Sector to support grassroots charities. To encourage local philanthropy, donors will benefit from matched funding on their endowment gifts – with up to 300% leverage.
Stephen Hammersley, chief executive of Community Foundation Network, said, “We strongly support this move which can only be good for philanthropy in London.”
