Government Matched Funding Scheme
The University of Cambridge and its Colleges welcome the UK Government’s matched funding scheme to encourage philanthropic donations to English universities. Oxford and Cambridge have agreed with the Government that they will use the scheme to encourage greater participation by alumni and other supporters in their respective institution-wide fundraising campaigns.
Under the terms of the scheme, collegiate Cambridge will receive £1 for every £3 raised in eligible donations during the three-year period of the scheme (1st August 2008 to 31st July 2011). The Government will set a “cap” on the total matched funding available for any single institution. At present it appears that the cap for Cambridge will be £3 million. All donations received from ‘new donors’ are eligible, be they from individuals, companies, trusts or foundations in the UK or overseas. (‘New donors’ are defined as donors who have not made a gift to a specific College or to the University in the three years before the start of the scheme. A previous donor to a College can be counted as a ‘new donor’ to the University and vice versa.) The matched funding received from the government will be used by the University and Colleges for student support, to ensure that Cambridge remains at the forefront of teaching, learning and research.
Added: 4 August 2008