In Focus: The Cost of Living Resilience fund.
This week we are able to sit down with Chloe Jones, Partner Delivery Manager at Crowdfunder, to talk about how you could receive up to £50,000 from our cost of living resilience fund provided with Access.
Scott: Welcome Chloe. Thank you for taking the time to speak with us today about our Cost of Living Resilience Fund. Can you talk us through this amazing initiative and how people can access the potential of this match funding?
Chloe: Hi Scott, of course. Our Cost of Living Resilience Fund is a funding opportunity aimed at supporting social enterprises in UK, that address the cost of living crisis in communities across England.
S: Cost of living can be quite broad…are there any specific areas that projects need to be focused on?
C: This fund is designed to bolster the resilience of organisations by assisting them in enhancing, expanding, or improving their trading activities. So, the big bit to note, is that projects can’t just apply to maintain an existing service, we’re looking to help these organisations grow and help more people.
S: That sounds like the potential to be incredibly impactful. Can you elaborate on any eligibility criteria that organisations should be aware of?
C: Certainly. To be eligible for support from the fund, the organisations must derive a minimum of 33% of their income from trading activities. Additionally, they must initiate crowdfunding projects that either enhance or expand their trading endeavours in some capacity. The final thing, is that it’s crucial that these organisations actively support communities in England facing higher levels of deprivation.
S: The focus on communities facing deprivation is commendable. Could you tell us more about the funding that successful applicants can expect to receive?
C: Our successful applicants can receive up to £50,000 in additional match funding. Our fund works by matching donations to the crowdfunding projects instantly at the point of donation, at a 2:1 or 3:1 ratio depending on IMD rating of the project. That means for projects in more deprived areas, if someone donates £10, the fund turns that into £40! This financial support can be instrumental in enabling these organisations to further their missions and impact within their communities.
S: Turning £10 into £40, sounds like everyones ideal fundraising campaign! So how do organizations interested in applying get access to the fund and what steps should they take?
C: If you have an idea for a project that aligns with our criteria, we encourage you to submit an application. Which can be achieved by just starting a project on Crowdfunder and following the application steps within our platform. We’re eager to receive proposals from organisations that are dedicated to making a difference in communities across England as soon as possible. Plus you never know you might be applicable to more match funding opportunities as well.
S: What sort of projects have been successful?
C: We’ve had a project focusing on creating a communal kitchen space where individuals can come together to learn about cooking, share meals, and build community connections. The Coexist Community Kitchen campaign was successful in raising over £63,000 to support the kitchen’s operations and outreach efforts with £47,000 provided through extra funding.
S: That’s an amazing amount of match funding provided to a community project.
C: We also had another one… Fat Macy’s Big Supper Club! They are a social enterprise that runs supper clubs and catering events, providing homeless young Londoners with opportunities to gain culinary skills and financial independence. Their crowdfunding campaign actually received +Extra Funding from three different funds, the Cost of Living Resilience fund, Aviva’s Community Fund and Sovereign Network Group’s Thriving Communities Fund which totalled over £34,000. So it’s not just one fund that can benefit a project. The money granted combined with significant support from the community, will enable them to expand their operations and reach more individuals in need.
S: That’s fantastic, is it just community food related fundraising projects that are successful?
C: No not at all, just the first two that came to mind. We’ve also seen a project use art as a tool for social change, offering workshops and events that promote creativity and self-expression while addressing social issues. They crowdfunded £26,000 to expand its programming and reach a wider audience.
S: Well thank you, Chloe. that’s so exciting to see the fund in action and it’s been great to learn about the impactful work you’re achieving with this fund.
C: Thank you for having me Scott. It’s been a pleasure, hopefully we’ll have many more projects to talk about soon!
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Find out more about the Cost of Living Resilience Fund by visiting:
https://www.crowdfunder.co.uk/funds/cost-of-living-resilience-fund