Allia’s latest charitable bonds release £250,000 in grants

first_img Howard Lake | 6 September 2011 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis  14 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Social investment organisation Allia has raised a further £1.8 million through its charitable bonds, releasing £250,000 of grant funding to a range of charitable causes. The latest bond issue means that Allia has raised a total of £17.8 million of investment through its bonds.One of the charities benefitting from this latest round is unemployment charity Tomorrow’s People. It received £41,000 as a result of investments by East Sussex County Council, individual supporters and by investing some of its own reserves. Baroness Stedman-Scott, chief executive of Tomorrow’s People, said: “Tomorrow’s People, being true to its colours, has sought to find innovative ways to bring in the funding needed to continue to make a difference. We applaud the commitment from those who invested in Allia’s bonds and we would ask others to get involved in supporting charities in this way so that they can further their good work.”Allia started in 1999 as Citylife and developed its charitable bond mechanism to raise funds through a series of campaigns for projects addressing unemployment and disadvantage around the UK. In 2010 it rebranded as Allia and launched a new fundraising service to allow other charities to raise additional funding through its bonds.The biggest investor in the latest round was Abcam, a producer and distributor of research-grade antibodies in Cambridge. Abcam’s investment of £1 million will give it a return of £77,500 on maturity, while releasing up-front funding for a new social and environmental enterprise centre in Cambridge. Abcam’s chief executive, Jonathan Milner, said: “Abcam is delighted to support the new centre via a charitable bond – it’s an excellent mechanism for attracting funds from companies in that on maturity the initial sum is returned along withinterest. We wish the new centre every success.”The next round of charitable bonds will be opening shortly and Allia is inviting more charities to register their interest.www.allia.org.uk About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Tagged with: Finance Funding Allia’s latest charitable bonds release £250,000 in grantslast_img

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