Pioneers Post
social investment
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  • user warning: UPDATE command denied to user '408302_semagad'@'10.187.245.20' for table 'cache_filter' query: UPDATE cache_filter SET data = '<p><iframe allowfullscreen=\"\" frameborder=\"0\" height=\"230\" src=\"http://player.vimeo.com/video/31484902?title=0&amp;byline=0&amp;portrait=0\" webkitallowfullscreen=\"\" width=\"406\"></iframe></p>\n<p>The charity plans to use the finance raised through the Scope Bond Programme to expand its income generation activities such as fundraising programmes and its network of charity shops, both of which generate long-term sustainable sources of income for its work with disabled people.</p>\n<div id=\"cke_pastebin\">\n<div id=\"cke_pastebin\">&nbsp;</div>\n<div id=\"cke_pastebin\">Scope is partnering with Investing for Good, a specialist social finance intermediary, to launch the programme, which will see it become one of the first UK charities to enter the capital markets.</div>\n<div id=\"cke_pastebin\">&nbsp;</div>\n<div id=\"cke_pastebin\">Richard Hawkes, Chief Executive of disability charity Scope said: &quot;The major cash investment that we hope to generate through the Scope Bond Programme has the potential to transform the support we can provide to disabled people.&nbsp;</div>\n<div id=\"cke_pastebin\">&nbsp;</div>\n<div id=\"cke_pastebin\">&quot;This is a landmark development for Scope and could revolutionise the way we and other large charities raise finance for our work in the future.&quot;</div>\n<div id=\"cke_pastebin\">&nbsp;</div>\n<div id=\"cke_pastebin\">The Scope Bond Programme will operate in the same way as similar corporate bond products. Scope will have the flexibility to issue sterling bond tranches at varying nominal amounts, maturity dates and coupon rates under the overarching programme.</div>\n<div>&nbsp;</div>\n<div>However, as the finance raised will be used for charitable activities, rather than for commercial purposes, investment in the Scope Bond Programme will generate social benefits in addition to the expected financial returns to investors.</div>\n<div id=\"cke_pastebin\">&nbsp;</div>\n<div id=\"cke_pastebin\">Scope and Investing for Good anticipate that the bond programme will be an attractive proposition for the growing market of trusts, foundations, high net worth individuals and wealth managers who are looking for social investment opportunities for their capital. Scope has already received a pledge in principle towards its first issue under Investing for Good&rsquo;s Charity Bond Programme from the Big Society Finance Fund.</div>\n<div id=\"cke_pastebin\">&nbsp;</div>\n<div id=\"cke_pastebin\">Scope is piloting the Charity Bond Programme set up and issuance process, paving the way forward for other large charities which may be interested in similar programmes to address their funding needs. Investing for Good is already speaking to several other charities from a range of sectors including inner city regeneration, drug rehabilitation, children and young people, and emergency services.</div>\n<div>&nbsp;</div>\n<p><em>If you liked this article why not sign up to our <a href=\"http://www.socialenterpriselive.com/page/livewire-signup\">free weekly newsletter LIVEWIRE</a>?</em></p></div>\n', created = 1490526313, expire = 1490612713, headers = '', serialized = 0 WHERE cid = '2:3f39c8dd4962f746300d24781ec41d57' in /mnt/stor2-wc1-dfw1/408302/www.socialenterpriselive.com/web/content/includes/cache.inc on line 109.
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Charity launches £20 million bond programme

31 October 2011

This is a landmark development for Scope and could revolutionise the way we and other large charities raise finance for our work in the future.

Richard Hawkes, Chief Executive, Scope

Disability charity Scope is to pilot a £20 million bond programme to generate complementary funding for its charitable activities alongside the traditional donations and philanthropic loans it currently receives.

Matt Black caught up with the intermediary who helped mastermind the deal, Geoff Burnand of Investing for Good, to find out how it works.

The charity plans to use the finance raised through the Scope Bond Programme to expand its income generation activities such as fundraising programmes and its network of charity shops, both of which generate long-term sustainable sources of income for its work with disabled people.

 
Scope is partnering with Investing for Good, a specialist social finance intermediary, to launch the programme, which will see it become one of the first UK charities to enter the capital markets.
 
Richard Hawkes, Chief Executive of disability charity Scope said: "The major cash investment that we hope to generate through the Scope Bond Programme has the potential to transform the support we can provide to disabled people. 
 
"This is a landmark development for Scope and could revolutionise the way we and other large charities raise finance for our work in the future."
 
The Scope Bond Programme will operate in the same way as similar corporate bond products. Scope will have the flexibility to issue sterling bond tranches at varying nominal amounts, maturity dates and coupon rates under the overarching programme.
 
However, as the finance raised will be used for charitable activities, rather than for commercial purposes, investment in the Scope Bond Programme will generate social benefits in addition to the expected financial returns to investors.
 
Scope and Investing for Good anticipate that the bond programme will be an attractive proposition for the growing market of trusts, foundations, high net worth individuals and wealth managers who are looking for social investment opportunities for their capital. Scope has already received a pledge in principle towards its first issue under Investing for Good’s Charity Bond Programme from the Big Society Finance Fund.
 
Scope is piloting the Charity Bond Programme set up and issuance process, paving the way forward for other large charities which may be interested in similar programmes to address their funding needs. Investing for Good is already speaking to several other charities from a range of sectors including inner city regeneration, drug rehabilitation, children and young people, and emergency services.
 

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