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Manx Lottery Trust appointed to distribute dormant assets

Thu, 22 Apr 2021

Isle of Man Treasury has appointed Manx Lottery Trust as the distribution organisation for the Dormant Assets Fund to charitable purposes undertaken in the Isle of Man.

Dormant assets are funds which have been untouched for an extended period of time, and where attempts to trace their rightful owners and reunite them with their funds have proved unsuccessful. The initial tranche of funding, which was announced in the Isle of Man 2021-22 Budget, is £600,000.

The ‘Dormant Assets Fund IOM’ has been drawn up with the effects of COVID-19 and the difficulties faced by organisations over the past 12 months at the fore. The aim of the Fund is to support voluntary and community bodies, also known as third sector organisations, in becoming more resilient and prepared for the future, through increased capacity and sustainability. Organisations will be able to apply for up to £50,000 for between one and three years.

Applications will first be considered at the Trustee’s meeting due to take place on 11th June, for which the deadline is 28th May, and at subsequent planned meetings until further notice.

Application forms, together with guidance notes are available on our website www.mlt.org.im

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