Donor circle aims to alleviate child poverty in London with £20m endowed fund
A novel donor circle that takes advantage of the government’s Community First match fund aims to build a £20m endowed fund over the next 10 years to alleviate child poverty in London.
The 1678 Society - 16 years is the difference in life expectancy between the richest and poorest areas in London and 78 pounds is the average amount a person has to live on per week in a poor household - will launch at a reception on Monday April 2 2012 at Morton’s Club in Mayfair.
The group, which brings together like-minded donors, will support local grassroots and community organisations to help raise aspirations and narrow the gaps in attainment of education which play such a crucial role in defining children’s future lives.
The society has already raised £100,000 for the endowed fund and £25,000 for its grant-making fund from a mix of individual, corporate and family business donors. Donors giving £25,000 to the fund will become London Guardians- and be invited to join the Society’s grant making panel.
Grant Gordon, chairman, says the matched aspect that means every pound donated will attract 50p from the government until 2015 has proved attractive to donors.
He added: “Poverty affects the health, education and life opportunities of over 600,000 children in our capital consigning them to a cycle of deprivation; taking them from childhood poverty, to becoming a parent of poor children. The 1678 Society aims to help provide opportunities for some of the most disadvantaged young people in our society so they can make more of their educational opportunities and lives.”
The local projects supported will all be helping to build brighter futures for the next generation providing new opportunities over a decade to 75,000 under-privileged children in London.
The 1678 Society has identified three key focus themes within which organisations can be supported related to the goal of helping to alleviate child poverty in London:
1. Ready to learn: ensuring that children have access to the basic necessities for them to succeed at school
2. Thriving not just Striving: providing opportunities for children to try new experience and develop new skills
3. Safe, Secure Supported: offering emotional support and motivation to break the cycle of poverty.
For more information about the 1678 Society and the projects the organisation supports visit www.1678society.org.uk