The foundation helping charities benefit from Shropshire 'missing £7 million'
An estimated £7 million lying idle in dormant charitable trusts across Shropshire could be used to provide much-needed support, says an expert.
Steve Adams, chief executive of the Community Foundation for Shropshire, says the county's 'missing £7 million' could help plug vital gaps in the work done by the voluntary sector.
He is calling on people who know of inactive funds to contact them to identify if the money can be realised for the greater good.
The foundation is working with the Charity Commission on the Revitalising Trusts initiative, which allows existing charities and trusts to transfer their assets to a recognised community foundation.
Mr Adams cites the Goldophin Trust, which the foundation helped release almost £500,000 for good causes in the county after falling dormant due to changing circumstances.
The Goldophin Trust was set up in 1750 to help the poor grow their own food by administering allotment plots near Condover. But dwindling funds, and a lack of demand for its services led to the trust turning to the Community Foundation to meet the changing needs of today.
The trust transferred its funds and management to the Community Foundation which will manage its funds and widen its remit to focus on helping the disadvantaged improve their health and get more exercise.
Mr Adams says there are many charitable trusts across the county that have become inactive, or where the existing trustees are finding the management of the fund arduous or difficult.
"Their original objectives cannot be fulfilled, trustees may be ill or have passed away, and with little or no investment funds may have dwindled," he says.