IdeasTap, a charity that helps young people who want to work in the creative industries, has said that it will close in June, with the loss of seven jobs.
The charity has received more than 90 per cent of its £13m total funding since its creation in 2008 from its chair’s philanthropic trust, the Peter De Haan Charitable Trust, but the trust has said that it can no longer provide any funding.
Twelve employees were made redundant in December after it was made clear the charity could no longer raise enough funds to continue.
The charity, which had an income of just under £2.9m and an expenditure of £2.4m in the year to April 2014, said it had supported 190,000 artists in film, theatre and other creative industries with mentoring, training and skills development through links with 51 partners, including the National Youth Theatre and the British Film Institute.
De Haan, former chief financial officer at Saga – the company that serves the needs of the over-50s – told Third Sector that for the past 12 months IdeasTap had been searching for alternative sources of funding without success. He said that fundraising for skills charities was notoriously difficult.
"I tried for four years to get corporates to engage with this skills side," he said. "I approached more than 400 organisations, but only five showed interest and none of them could provide any funding. The problem is that we’re not sexy."
De Haan said the likelihood of a last-minute funder saving the charity was negligible.
He said IdeasTap would honour its commitment to projects at the Edinburgh Festival Fringe in August, but its activities would generally be wound down by the end of June. Its legacy site, which showcases existing talent, would continue for the time being, the charity said.