17 June 2009
An innovative package of measures to promote grassroots giving is at the heart of the first ever Manifesto for Community Philanthropists from Community Foundation Network.
Among the manifesto’s 29 recommendations are calls for:
- The creation of special giving zones with favourable tax treatment for donors, modelled on social exclusion zones, and designed to prioritise investments in services in areas of greatest need.
- The use by the Government of its majority shareholding in many banks to bring about the creation of bank gifting accounts to simplify giving and ensure tax efficiency.
- The establishment of a system of lifetime legacies, to enable philanthropists to release funds earlier from their estates and enjoy and engage with their giving during their lifetimes.
- The setting up of a £30 million ’Philanthropy Infrastructure Investment Fund’ to provide seed capital to support IT projects to release more giving.
- The manifesto is the result of nine months careful research by a working group of donors, grant makers and academics led by CFN Chair and community philanthropist, Matthew Bowcock, and overseen by Baroness Prashar, CFN’s Honorary President.
Launching the manifesto, Mr Bowcock said:
“We need to empower local people to fund and deliver change within their own communities. In these difficult economic times when money is tight, there are far too many obstacles to philanthropists who want to engage with local groups to bring about change.
“Our recommendations include major reforms to the banking, taxation and the education systems to both release more funds today and promote a culture of giving in the future. This is the most comprehensive package of measures ever published from the viewpoint of the community philanthropists and I strongly urge all the political parties to take a long, hard look at our recommendations ahead of the general election.”
CFN is now inviting comments on this draft manifesto before it publishes its final proposals in the autumn. All comments should be sent to Community Foundation Network, Arena House, 66-68 Pentonville Road, London, N1 9HS or email to [email protected], no later than 31 July 2009.
In drawing up the manifesto CFN called on the experience of 57 local foundations, which together make around £70 million in grants to grassroots organisations every year.