Scheme to release dormant trust cash

A new Scottish Community Foundation scheme to harvest money in dormant charitable trusts is expected to raise millions of pounds for small charities north of the border.

The initiative to release money from trusts with outdated objectives has been brought in after new regulations were introduced in October. The foundation hopes to help the country's 32 local councils release money they hold in about 2,000 trusts that they control.

"We're looking to form partnerships with councils to access this money for them," said Robert Stevenson, public sector development manager at the foundation. "This will help fund Scotland's smallest charities. Some of these trusts are very small and date back 200 years. Their objects are no longer suitable for today's society. This means that we can change their objects to make them relevant today."

Charities in England and Wales have already raised funds through the scheme.

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