JERSEY’S struggling third sector will receive £4.5 million from dormant bank accounts over the next three years.
The government has announced that money from the Jersey Reclaim Fund will be distributed to charitable and voluntary organisations by the Jersey Community Foundation.
The fund was set up in 2017 and is made up of balances from bank accounts which have not been used for more than 15 years.
Since it was launched, the JCF has received £1m each year from the fund.
External Relations Minister Ian Gorst, who has responsibility for financial services, said increased funding would support organisations who provided “invaluable” contributions to society.
He added: “This package will provide increased financial support for charities and voluntary organisations over a longer period, increasing confidence and recognising their invaluable contribution to our society.
“I’m grateful to all those financial services institutions who support the reclaim fund, and to the JCF for their continued work.”
Charities can also use part of their grant to improve the sustainability of their organisation.
A recent report on the value of the third sector stated that a third of charities were “vulnerable”, with less than three months of reserves left, while the Jersey Community Foundation has also called for increased support for charities from financial services firms.
Jersey Recovery College, which offered education and training to Islanders experiencing mental-health difficulties, cited increasing costs and a reduction in donations as factors in its decision to close with immediate effect in August this year.
Ten staff lost their jobs, while around 50 volunteers were affected.
Following JRC’s closure, Robert Surcouf, deputy chair of the Association of Jersey Charities, warned that the charitable sector was doing “a lot of heavy lifting” when it came to mental-health support in the Island.
Announcing the new charity funding this week, Deputy Gorst said: “We are also discussing with JCF other schemes to match-fund large private donations, and hope to have further announcements later in the year.”
Chief Minister Lyndon Farnham added that the funds would support charities in their “central roles”.
He added: “The Jersey Community Foundation has supported more than 450 recipients since it was established in 2020, helping charities and voluntary organisations to continue their central role in the life of our Island.
“Against the backdrop of recent economic conditions, this government is committed to increasing and strengthening support for the sector.”
