In March 2011 the Government transferred the £27m that remained in the Communitybuilders fund into a permanent endowment that is owned and administered by our parent charity, Social Investment Business Foundation.
The Communitybuilders fund, originally owned by the Department of Communities and Local Government, supported neighbourhood based, community led organisations to become more sustainable through a mixture of loans, grants and business support.
The purpose of the endowment was to allow the the Communitybuilders fund to become fully established for the forseeable future and to ensure stable and continued management. It created an evergreen fund where loan repayments could be recycled back into the sector and allowed for the collaboration with other investors, foundations or philanthropists.
How the money has been used
The following tables outline how the Communitybuilders fund has been deployed, both in the original investment phase, and in subsequent investments since the endowment was granted.
Direct Communitybuilders investment
|Liverpool City Region Impact Fund||£1m||European Regional Development Fund||£1m|
|First Steps Enterprise Fund||£50,000||ASDA Foundation||£250,000|
|Community Investment Fund (managed by SASC)||£10m||Big Society Capital||£10m|