COVID-19 Stability Fund: The Wheel Welcomes €10.5M Allocation for Charities
The Wheel calls for new government strategy to support the work of charities in the post-lockdown environment.
The Wheel, the national association of charities, today welcomed the announcement of €10.5m in funding for charities under the COVID-19 stability fund. The scheme was devised by the Department of Rural and Community Development following a detailed submission by a group of 14 representative bodies in the broad charity, social enterprise, and community and voluntary sector, facilitated by The Wheel.
Commenting on the announcement, Deirdre Garvey, CEO of The Wheel said, “We are very pleased to see these first badly-needed funds being transferred to cash-strapped charities today. These funds will go a long way to help hard-pressed organisations to continue their essential work in the period ahead. We are looking forward to announcements on additional tranches of funding under the scheme. We would also like to thank Minister Michael Ring and the Department for Rural and Community Development for putting this scheme in place at a point when many charities are on the verge of collapse.”
Ireland’s charities are experiencing an estimated €500m hit to fundraised and earned income resulting from activity suspended by the COVI-19 crisis. “While the €35m Stability Fund goes some way to closing the gap, the scheme was primarily designed to support the worst-hit charities to cope with urgent cash-flow and liquidity needs. A medium to long term strategy is now needed to support the work of charities in the post-lockdown environment”, said Deirdre Garvey.
“The Wheel will continue the positive engagement and work with the incoming government to ensure that the health and wellbeing of communities continue to be the priority in the challenging months ahead. Never has it been more important to put community first,” said Deirdre Garvey.