Milly Apthorp trust to close
Barnet Council has just advised Councillors that the Milly Apthorp trust is to close. The trust is a valuable source of funding for many local groups. I am currently trying to find out why this is happening. The text of the notification to Councillors is;
I am writing to inform you that the trustees of the Milly Apthorp Charitable Trust have notified their intention to wind up the trust by July 2010. It is likely that the next scheduled quarterly meetings in December of the three MACT schemes that we administer will be the last. Over £14 million has been awarded through grants to Barnet residents, voluntary and community sector projects and innovative council schemes since the council assumed responsibility for administering the three funds in 1990, a fact recognized by the council in conferring the Freedom of the Borough on Mr Apthorp last year.
The trust will honour all funding commitments on grants previously approved extending to 2012, subject to compliance with terms and conditions attached to the awards.
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I have been associated with a number of grants from the Milly Apthorp Trust over a long period, all connected with improving/restoring greenspaces in L B Barnet. Long Lane Pasture is the latest one I have been involved in (see website). This Trust has been an excellent source of support and it is pretty sad that it is closing. Have they lost a lot of capital in Icelandic banks? How much is this do to with Barnet Council (I find the arrangement that they administer the Trust somewhat cosy)? I would be really interested to hear why this is happening, and what will happen to any residue funds – or is it all fully allocated? They must have lost a lot of capital somehere!
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