Agenda item

To receive a progress report of the Chief Grants Officer.

The Committee considered the regular progress report and events update of the Chief Grants Officer.

The Chief Grants Officer noted Members were asked to approve the principles of the draft report listed in Appendix B to his Progress Report – Resourcing for the City of London Corporation’s Social Investment Activity, which sought to make recommendations on the future resourcing of the City’s social investment work following the first year of operation of the Social Investment Fund.

The Chief Grants Officer stated that Social Investment Board Officers had been examining fund management costs and were working towards bringing more financial expertise in-house, before third parties were consulted on social investments.

The Committee received a presentation from City Philanthropy Manager, Cheryl Chapman, which outlined the achievements of the organisation in its first full year of funding. The City Philanthropy exhibition, which documented the history of philanthropy in the City had received good media coverage and a book was now available which was sold online. Work and networks were being established with other organisations to grow philanthropy in the City, including the Lord Mayor’s Office, The City Funding Network and Young Philanthropy.

A Member raised concern over a lack of awareness of the work of Young Philanthropy previous to this presentation.  Members and Ms Chapman discussed the aims of City Philanthropy whose success rested on achieving the support of City companies as well as the support of City Bridge Trust Members to build awareness of the role of City Philanthropy.