The Mission 1101 Fund Mission 1101 is pleased to announce that due to the generosity of our residents, businesses and schools we have deposited a total of £13.5k to County Durham Community Foundation (charity) which has been matched by 50% funding from the government to give an incredible £20k of money deposited into CDCF’s account to grant funding bids for groups within Seaham and Murton!! The committee of Mission 1101 have agreed that this fund remain forever in perpetuity for groups within Seaham and Murton, to grant funds for local projects every year, for the remainder of time. This fund will be known as ”The Mission 1101 Fund” and will be open to local community groups who require financial help. The £20k deposited should produce a yield of around £1,000 each year for the rest of time without actually spending the overall amount and will grow in line with inflation. Further funds can be added at any time to produce an increased yield to pay out each year in the form of a grant. i.e. a further £10k added would produce an annual grant of approximately £1,500. CDCF will manage the funds on our behalf and will be able to source other funding streams to grant larger bids for our community by means of a joint bid process. It is the intention of Mission 1101 to run more fundraising events in the future which will help increase the grant funding paid out each year by CDCF. The committee of Mission 1101 have ensured that the funds are safeguarded within the charity and are at no risk of loss. This will become the legacy of our town in the way we all came together to buy this outstanding piece of art for future generations to enjoy and to continue to do good within our community long beyond our lifetime. The committee of Mission 1101 feel this is testament to the tremendous level of generosity and selflessness shown by everyone who contributed to our fundraising efforts and will benefit our community for centuries to come. Details of which groups can apply for the funding and the grant application process will become available soon . Please look here for further updates.
Posted on: Thu, 25 Sep 2014 22:15:59 +0000
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