ABOUT THE RYE FUND
What is the Rye Fund?
In 2008 a small group of local residents decided to create a charitable investment fund whose income could be distributed for the benefit of Rye and neighbouring parishes.It is an endowment fund. The fund has a Local Steering group and a Local Panel ( see below)
What is the value of Rye Fund?
The value of the fund is currently just over £200,000. We have distributed a total of £113,000 in grants since 2009.
Where did the funds come from?
The founding donations from local residents were doubled by match-funding from government grants designed to encourage community endowment funds. The Rye fund has continued to receive donations both large and small. All donations have been invested and the income generated by these investments has been distributed in grants.
Is Rye Fund a charity?
The founders did not set up a separate charity but instead asked the Sussex Community Foundation (SCF) to manage the fund on their behalf. SCF manage a number of charitablefunds including the Lewes Fund. The full description of our fund is “The Rye Fund at SCF”. As a registered charity SCF enables all our donations to be eligible for gift aid.
Why choose Sussex Community Foundation?
SCF is one of 47 accredited Community Foundations in the UK. Set up in 2006 it has helped distribute over £30 million in grants in Sussex. It is responsible for selecting the investment fund managers who look after our Fund.
SCF has helped Rye Fund obtain the initial match funding from the government and more recently the Lawson Trust Endowment Challenge. We hope that there will be more opportunities for match-funding donations to Rye Fund in the future.
What is the Rye Fund Steering group?
The steering group manages the relationship with SCF and supports the Local Panel in whatever way they can. TheSteering group work includes promoting the Fund and encouraging more people to support it.
Some of the original founders are still members of the steering group. But new members are always welcome. If you would like to help with this – please get in touch with the Steering Group at info@ryefund.org.uk
What is the Rye Fund Local Panel?
They make the final decision on who gets a grant. Anyone interested in receiving a grant from Rye Fund applies through SCF. SCF check the applications to make sure they are eligible for charitable donations and then pass them on to thelocal panel to decide.
Anyone who lives or works in Rye or the surrounding parishes can volunteer to be on the local panel. If you would like to know more please get in touch at info@ryefund.org.uk
Who can receive a grant from Rye Fund
Any small group or organisation that is working to serve the needs of Rye and the neighbouring villages.
What is the vision for the future of Rye Fund?
Our immediate ambition is to grow the fund to £300,000 so that it can distribute about £15,000 a year. There are many local groups and organisations that need support and this amount could be meaningful. SCF and Rye Fund will be around for many years – it provides a straight-forward and reliable way for local philanthropy to play an important part in the future of our community.
How to donate to Rye Fund?
You can do so online at this link: https://www.totalgiving.co.uk/appeal/ryefund
As Rye Fund is part of a registered charity Gift Aid will apply to all donation and will increase the value of your donation to us – currently by 25% (there are additional personal benefits for higher rate tax payers)
You can also send a cheque made out to “Sussex Community Foundation” but accompany the cheque with a note to say that it should be paid into the Rye Fund.
The address to send the cheque to is as follows:
The Rye Fund,
Sussex Community Foundation,
15 Western Road,
Lewes,
East Sussex BN7 1RL
(it would be very helpful if you could let us know you have done this by sending an email to info@ryefund.org.uk)
Please consider leaving us a legacy in your will.
The suggested wording is as follows:
“ I give to Sussex Community Foundation, registered charity number 1113226 absolutely, the sum of £……[or name of item or property/item for specific legacy] and direct that it be paid into the Rye Fund, and that a receipt signed by a person for the time being authorised by the Trustees of the Sussex Community Foundation shall be a good and sufficient discharge to my executors.”
If you would like to add a codicil to an existing will we have a form here Link
Contacting the Rye Fund
If you have any comments to make about the Rye Fund or would like to offer your help in growing the Fund please get in touch with us as info@ryefund.org.uk. your details on the contact page: