NICVA hosts Consultation Event on Dormant Accounts Fund for Northern Ireland
The Dormant Accounts Fund was originally established by former Chancellor Gordon Brown in 2007. Northern Ireland received an allocation, but the money has remained unused since then. NICVA has lobbied every Finance Minister during the period to set the Fund’s priorities and make it operational.
Under the direction of the Department of Finance the National Lottery Community Fund has been tasked to deliver Dormant Accounts funding in Northern Ireland. Around £16 million of Dormant Accounts funding for Northern Ireland has accrued over the last 10 years and it is anticipated that money will continue to be available on an annual basis.
The Department of Finance has determined that this funding should benefit the Northern Ireland voluntary, community and social enterprise sector by helping grow its resilience, increasing capacity and encouraging sustainability.
The National Lottery Community Fund have been formally engaging with the VCSE sector to determine how the funding can best be delivered, with a view to opening the fund in early 2020.
This recent event was held to help shape and inform NICVAs submission to the current consultation process.Over 70 individuals from across a diverse range of VCSE organisations attended and had the opportunity to directly share their views on how the fund might have maximum impact.
Kate Beggs, Northern Ireland Director for the National Lottery Community Fund was in attendance to provide an overview of and background to the Dormant Accounts NI consultation process and to hear directly the sectors views and ideas regarding distribution and delivery of the fund.
What Next ?
The National Lottery Community Fund Consultation closes end December 2019.
Drawing on key messages from the consultation event NICVA is currently preparing a final response for submission to the National Lottery Community Fund consultation which shall be available via our usual communication channels.
For more details on NICVAs response to this consultation please contact our Policy and Public Affairs Team via email: [email protected]
For more details on how your organisation or group can respond directly to the consultation:
Find out more about the Dormant Accounts Fund consultation via www.tnlcommunityfund.org.uk/funding/programmes/dormant-accounts-fund or to share your thoughts, views or ideas directly email [email protected].uk
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