If you are looking to support an Irish charity organisation that has a good cause, and requires no less than €400k – €2m funding to achieve its goals, we are very glad to help.
Prior to approaching us, please think about which causes you are interested in. Charities must think about how they are going to use this generous philanthropic endowment to benefit Irish society at large.
The Department of Justice’s official guidelines states that:
- A minimum endowment of €500,000 in a project of public benefit in the arts, sports, health, cultural or educational field is required.
- The endowment should be regarded as a philanthropic contribution with a clear public benefit. Investors will receive no financial return or recoupment of the principal.
- The endowment must not displace or supplement current or capital expenditure as voted by the Oireachtas (the Irish parliament). It is important that the endowment is visible to the public and beneficial to the wider community.
- Where a group of five or more investors wish to combine their philanthropic endowments to contribute to an appropriate project, a minimum investment of €400,000 per investor will qualify under the Programme.
- The successful donor(s) will be granted Irish Residency.
In practice, a business plan which provides details of how the endowment funds are to be utilised and how the endowment will be of public benefit in Ireland is required from charities.
The business plan needs to demonstrate a significant capital expenditure plan plus sustainability of the charity organisation; it means a large amount of endowment needs to be spent on purchasing property or fix assets, construction or renovation, smaller portions can be used for other purposes of the business such as salary, marketing, fundraising cost, etc. We don’t want to see vague statements such as “the money will be spent on building a community centre”. We need to see the details and supporting documents.
To date, IIP-endowment has become an excellent vehicle to help Irish charity organisations to receive much needed funding, which it’s not able to fund-raise through other avenues.
Contact us using the form below to learn more and start your application today!