Further to this post, the government has just announced that the £100m ‘transition fund‘ — aimed at helping those civil society organisations and social enterprises that are heavily dependent on publicly funded contracts weather the public spending cuts — has opened for business. It is being administered by the Big Fund (the renamed Big Lottery).
RAWM has just explained in a recent email briefing that to be eligible to apply organisations must:
- Be civil society organisations with an income of between £50,000 and £10 million
- Derive at lt least 60% of income is from taxpayer funded sources
- Spend at least 50% of your taxpayer funded income on service provision in at least one of the following areas – health and social care; homelessness; education and training; offender rehabilitation; welfare to work/ employment services; children and families; debt counselling and legal advice
- Have free reserves of not be more than six months
- Face significant cuts; you will experience cuts of least 30% of your taxpayer funded income in 2011/12, as compared to your most recent set of signed annual accounts
- Deliver the majority of your services in England.
The minimum grant size is £12.5k and grants will meet no more than half your taxpayer funded income. This means that you will have to stand to lose at least £25k.
The majority of the grant expenditure must be on change activities.
There are briefing events in Birmingham on the 10th December for which attendees must register by 5pm on Monday 6th December — details here on the Big Fund website.
Update: Be sure to read Pauline Roche’s helpful explanatory comment below if you want a quick intro to what ‘change activities’ covers!