Almost £12 million held in dormant accounts in Northern Ireland has been awarded to more than 130 organisations in the region, the Finance Minister has sa.
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