P R E S S R E L E A S E
For immediate release
26th November 2018
‘NURTURER OF ISLAND FUNDS FOR ISLAND CAUSES ANNOUNCES RETIREMENT AS CHAIRMAN OF IWCF’
After almost four years, Richard Prest has announced his retirement as Chairman of the Isle of Wight Community Foundation (IWCF) at the end of November 2018.
Richard Prest joined the Board of Trustees in May 2015, and has worked extremely hard to nurture island funds for island causes, building substantial local funds that provide a lasting benefit for Island communities today and creating a brighter future for generations to come.
Richard’s tenure has overseen successful growth on the Isle of Wight, with grants worth over £160,000 distributed last year, making the Foundation one of the largest grant-making charities on the Island. Grants are awarded to local organisations managing community based projects on the Isle of Wight that support vulnerable and disadvantaged people, such as Cowes Sailability Club, Footprint Trust, Jigsaw Family Support and Shanklin Voluntary Youth & Community Centre.
IWCF is a collection of charitable funds now worth over £1.55 million, ring fenced for spending on the Isle of Wight. Endowments are managed by the Hampshire and Isle of Wight Community Foundation (HIWCF), with the income distributed at the discretion of the IWCF Committee and at the request of Island fund holders. IWCF provides an ideal platform for Island philanthropy, offering donors a practical, tax-efficient and enjoyable alternative to local charitable giving. Donors can set up a personal fund where a lifetime donation can support a specific local cause, or they can leave a legacy in their will. The Foundation also provides support to trustees wishing to reduce the burden of managing an existing charitable trust, whilst ensuring that the original objectives of the fund are fully respected.
Richard Prest commented “It has been a pleasure to be involved with the work of the Foundation, enabling us to provide a huge amount of support to our smaller Island charities and voluntary groups who work day in and day out on the front line, providing incredible support for those in need. The Isle of Wight contains pockets of severe deprivation with 13 areas falling into the 11-20% most deprived areas in England and a further two areas falling within the 10% most deprived areas, according to 2015 deprivation indices and I would like to offer my heartfelt thanks to each and every one of our generous donors, many who support us year after year, without whom we could not continue to help those in need.”
Grant Cornwell, Chief Executive for HIWCF said “Richard has done an outstanding job as Chairman and we are extremely grateful for all that he has achieved for the Foundation. Under his leadership the Island endowment fund has seen a significant increase and Richard has ensured exemplary governance, making sure that the IWCF Committee will serve the local community very well over the coming years. He will be greatly missed by all the staff and trustees and we would like to take this opportunity to wish him a long, happy and well deserved retirement.”
The Foundation is actively looking for a new Chair and new committee members and would welcome hearing from anyone who can help build funds, working closely with business and charities on the Island. Please see HIWCF website www.hiwcf.com/about-us/vacancies/ for more details.
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About Hampshire and Isle of Wight Community Foundation
Registered Charity No: 1100417 – Registered Company Number 4534462
The Hampshire & Isle of Wight Community Foundation (HIWCF) is an independent charitable trust established to inspire local giving for local need. The Community Foundation works both with donors who want to give something back to their local communities and voluntary groups providing vital services for local people where often a few hundred pounds can make a real difference to their lives. Companies, individuals, families and trusts can establish a fund with the Foundation, which supports a growing programme of grant-making to communities. HIWCF is part of a national network of 46 Community Foundations, one of the fastest growing philanthropic movements in the UK. Local groups can take a look at the HIWCF website to see if they might qualify for a grant: www.hiwcf.com or email HIWCF at firstname.lastname@example.org
UKCF is the membership organisation for Community Foundations that work across the UK to raise then distribute money directly to local causes. Community Foundations operate to ensure any form of philanthropy, whether from an individual or an organisation is effective and brings greatest benefit to those in need in our local communities. In 2017, Community Foundations made over 20,000 grants, distributing over £77 million to local causes. Community Foundations’ total managed endowment stood at £580 million in November 2018. We represent 46 quality accredited community foundation members across the UK. Our Quality Accreditation process is endorsed by the Charity Commission and uses standards consistent with the Charity Commission’s Hallmarks of an Effective Charity, with robust, transparent and fair assessment processes. Achieving Quality Accreditation demonstrates that community foundations are serious about quality and accountability. www.ukcommunityfoundations.org