Dormant funds are freed up

Around £125,000 lying dormant in 13 trust funds is to be put to good use after Nottinghamshire County Council and Nottinghamshire Community Foundation (NCF) joined forces to unlock it for local people and organisations.

Many of the funds were set up decades ago to provide small grants supporting educational attainment and prizes for educational achievement.

However, due to the small size of the individual funds, the majority have become ineffective.

The two organisations worked together with the Charity Commission and remaining trustees to transfer the total assets into a new fund administered by NCF.

Now income gained from the capital invested in this new fund will be used to provide small grants to individuals and groups across the county on an annual basis, in line with the criteria agreed with the Charity Commission and Nottinghamshire County Council.