If you are an Irish charity organisation that has a good cause, and requires no less than €2 million funding to achieve, we are very glad to help.
Prior to approach us, please think about how you are going to use this generous philanthropic endowment to benefit Irish society by 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.
- 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.
In practice, a business plan which provides details of how the endowment funds are to be utilised and how endowment will be of public benefit in Ireland is required.
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 spend 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 is not able to fundraising through other revenues.