What are they doing with the £258 million left in the Culture Recovery Fund?
What are they doing with the £258 million left in the CRF ?
Well here is a clue.
Arts Council England has been in touch regarding the final rounds of the Culture Recovery Fund.
A round of repayable finance is opening today (15/12), with criteria being posted on the ACE website shortly. It's a £100m round, and applications close on 7 January.
The final grants round (expected to be around £200m through ACE) will open in the first week of January and run until the end of that month.
ACE are also running a webinar on 22 December on the final grants round.
About CRF: Repayable Finance round two
This investment is primarily intended to support culturally significant organisations as they transition back to a viable and sustainable operating model during the 2021/22 Financial Year, and to support them to deliver a clear plan that returns them to that point. The minimum amount that can be applied for by organisations is £1 million and there is no upper limit, however the maximum budget available for the programme is £100 million.
How this fund interacts with CRF: Grants round two
For Culture Recovery Fund round two, the DCMS is setting individual and aggregate limits on the amount of Grant funding that can be applied for. These limits are £1 million for profit-making organisations and £3 million for non-profit organisations per round, and in total across the CRF rounds. These limits apply to all Culture Recovery Fund: Grants programmes, including those delivered by National Lottery Heritage Fund, Historic England and the British Film Institute.
This means for example, if a non-profit organisation received £2.5 million in CRF: Grants at round one, then they would only be eligible for a Grant of £500,000 in round two. If that organisation had a financial need greater than this in round two then they should consider making an application for Repayable Finance.
Now I suspect like me you are thinking this is not for us. So as you would expect many questions are still being asked. “ what have they done with the remaining fund ?” I will let you know when I discover.
SH Gen. Sec.Previous Story: General Secretary Writes - 15 December 2020Next Story: Culture Recovery Fund 2 Urgent Update 22 January 2021
COVID-19 News, General News, Grants, Funding & Sponsorship News