Community / Charitable trust spending to increase by more than £800k next year
SHETLAND Charitable Trust (SCT) says it will spend an extra £810,000 on community grants next year as its new five-year financial plan kicks in.
It means that local charitable organisations will see up to £9.8 million coming their way during 2025/26, mainly under SCT’s large grant scheme.
Details of its latest awards will be announced next week.
The grants are shared among the providers of public services in sport, leisure, arts and heritage, care for the elderly as well as the voluntary sector.
Over the next five years to 2030, SCT aims to spend an extra £9.3 million on grants. This would see local charitable organisations funded to the tune of over £51 million in total from SCT.
Charitable trust chair Robert Leask said the extra would amount to a 22 per cent increase in funding from the trust over the five years.
“It will make a significant contribution to supporting the charitable activity in our community and will improve the overall quality of life in Shetland,” he said.
“It’s an enviable position for Shetland to be in compared to the much bleaker picture down south.
“The trust’s focus on building its funds over the previous five years means that it can afford this extra funding while ensuring that the benefits will continue to be there for future generations.”
At a meeting on Thursday trustees heard an update on their stock market investments which generate the funds that SCT passes on through grants.
In recent weeks the investments recovered in value to reach £460 million this week following a slump during September and October. They began the financial year in April at £445.3 million.
Leask added: “Our investment managers report that the markets have been volatile and will continue to be so with investors moving away from some of the tech stocks in search of more stability.”
Since forming in 1976 with oil funds, SCT has spent more than £350 million in the local community with regular beneficiaries including the recreational and amenity trusts as well as Shetland Arts and care homes.
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