Name of Policy : Transition Fund
This is new policy
The £100m Transition Fund was announced by Ministers as part of the Office for Civil Society’s Spending Review settlement in October. It aims to help the charities, voluntary groups and social enterprises that are most vulnerable to public spending cuts. It will be managed by BIG Fund, and open for applications in late November 2010.
The Fund will run over two financial years, with £10m to be allocated in 2010-11 and £90m in 2011-12. The one-off grants will range from £12.5k to a maximum of £500k, and will need to be spent by recipients by March 2012. There will be a maximum capital allocation of £5k within grants. The maximum level of grant for organisations will be 50% of their total loss of taxpayer funded income for front line services in 2011-12 compared to 2010-11.
The Transition Fund will allow civil society organisations (CSOs) which are vulnerable to reductions in public spending to re-model, diversify their funding streams, change their businesses and continue providing frontline services.
To ensure a targeted approach, that sees funding going to those organisations most in need and where the benefits will be greatest, the programme will target organisations which:
are delivering frontline services that contribute to national priority public services.
currently receive a high proportion of their total income from taxpayer-funded sources.
would otherwise suffer most from any reductions in taxpayer funded income do not have sufficient reserves to cushion any short-term loss of taxpayerfunded income.
can demonstrate that no other sources of statutory funding are available to help them to provide the services which are at risk.
The fund will be accessible to relevant organisations with an annual turnover of between £50,000 and £10 million.
The key outcomes are:
CSOs, which deliver high quality public services, are more resilient, agile and able to take opportunities presented by a changing funding environment.
EQUALITY IMPACT ASSESSMENT
Directorate / Unit: OCS
Date of Screening 1/10/10
Name of Screener L Bromwell
Director J Mountford