Posted on April 16, 2018
The Siol fund is the second in our Unsung Heroes Campaign that showcases the model and impact of some of our anonymous Donor Advised Funds. The Siol fund was set up as a flow-through Donor Advised Fund in 2015 by an entrepreneur who wanted to give back to his hometown specifically and also support the wider community. The fund has given out almost half a million in grants since it began and continues to fund projects that are aimed at regenerating the local community and to wider social issues such as health and education.
The Siol Fund has also provided funding internationally to organisations that support children with disabilities in Moldova and projects in Uganda. These grants are facilitated through The Community Foundation for Ireland that provides governance checks and peace of mind through our Donor Advised Funds.
In identifying particular areas to support and where the most impact can be achieved The Community Foundation for Ireland performed a scoping study on behalf of the Siol Fund that mapped out the donor’s hometown and highlighted organisations and projects that were actively tackling local issues and in need of financial support to reach more members of the community. By conducting this type of study before any grants were made the donor received a detailed overview of where the problems were, who was working in the area and how their funds can create tangible change.
The generosity of the Siol Fund highlights how entrepreneurs engage in philanthropy the same way they engage in business, showing a high level of commitment to tackling problems in a way that is strategic and ensures maximum impact. By working with The Community Foundation for Ireland the Siol Fund has availed of high level expertise in grant-making and governance that ensures the entire community gets a return on their investment.
You can follow the Unsung Heroes campaign on social media using #UnsungHeroes. To go back and see the first of our Unsung Heroes campaign- The Farmleigh fund click here.