Dormant Accounts: Social Enterprise. Pre-Application Guidance Event

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1 Dormant Accounts: Social Enterprise Pre-Application Guidance Event

2 Welcome & Introduction Padraig de Burca Team Leader

3 Background to the Dormant Accounts Fund Legislation introduced a scheme for the disbursement of funds followed the report of the Public Accounts Sub-Committee Parliamentary Inquiry into Dirt, published in It recommended that the benefit of funds in dormant accounts should accrue to society as a whole, and not just to financial institutions. DAF is resourced by the unclaimed accounts and life assurance policies in financial institutions and insurance undertakings around the country.

4 Background to the Dormant Accounts Fund Responsibility for overseeing the disbursement of funds rests with the Department of Rural and Community Development in conjunction with other Government Departments. An annual action plan governs the priorities for funding support

5 Background to the Dormant Accounts Fund DAF provides funds to assist programmes or projects targeting three broad categories of persons - those affected by economic and social disadvantage; - those affected by educational disadvantage and - persons with a disability. Pobal has been asked to provide administrative and operational support to this current action plan (2017) open call for applications for the following measures 1. Social Enterprise 2. Training and Support for Family Carers

6 Pre-Application Guidance Paul McLaughlin Development Co-ordinator

7 Aim of today Outline the timeline Provide clarity to the application process Deliver key messages on making a successful application Highlight some do s and don'ts Provide the opportunity for questions and one-to-one s.

8 Mullingar Homecare Services

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11 Timelines Closing date for Applications 3pm on the 31 st August. There will be no extensions granted! Assessment Process Autumn. Offers of grant issued c. early January. Projects must be completed by 30 th June 2020.

12 The Online Application and Resource Materials We will only accept applications through the DAF Portal - Accessible through Applicant Guidelines Document. Budget template Co-funding template Partner funding commitment letter template VAT recoverable template Technical support guide

13 The Application Questions This is a strongly competitive measure. To give yourselves the best chance: Answer the question asked Be clear and concise in your narrative. Justify the need for the project and for what you want to buy/renovate. What evidence do you have? Show how you meet the measure criteria Be aware of private sector displacement.

14 For social enterprises only Definition: An enterprise that trades for social/societal purpose, where at least part of its income is earned from its trading activity, is separate from government and where the surplus is primarily re-invested in the social objective Schools, higher education bodies, festivals, childcare services, most private companies are not eligible to apply We don t generally consider social enterprises to be: sports clubs, informal associations, or organisations whose turnover is predominantly grant supported (social services). Priority will be given to social enterprises who have not received funding under the last two funding calls.

15 Meeting the Measure Criteria Does your project: contribute to creating or maintaining sustainable jobs within your social enterprise? enhance or improve the quality of services you deliver to disadvantaged target groups and communities? Improve or sustain income generation? Is not possible without DAF support?

16 Capital - Do apply for.. Between 20,000 and 75,000 for: New equipment or machinery we are looking to fund assets. Vehicles - as they long as they are core to your social enterprise activity. Building refurbishment or support with costs of constructing an extension.

17 Capital Do not apply for.. More than 75,000 or less than 20,000. Funding for land purchase, or new build construction e.g. a new community centre, sports facility or building. Retrospective costs nothing is eligible prior to your contract date. Bank charges, interest or notional costs. Ongoing organisational or staff costs - this is a capital measure. Routine maintenance of buildings or machinery repairs.

18 Compiling your Budget What do we want to see? Properly completed budget sheet Full and detailed explanation of costs A full signed set of 2017 Annual Financial Statements. Evidence of at least 20% co-funding of total project costs. For you to follow public procurement rules.

19 Public Procurement and Tendering At Application Stage: Please submit with your application: One quotation for each item of expenditure or one professional building cost estimate If Application is Successful

20 Common Application Mistakes You are not really a social enterprise. DAF is not best fit for your project funding requirements. Eligibility of expenditure only expenditure incurred after issue of contract and within the dates specified on your grant agreement is eligible. Incomplete application Incomplete budget template Miscalculating the co-funding requirement E.g. Quote for van is 25,000. DAF may fund 20,000. You must provide 5,000. Hire Purchase as co-funding is not allowed. Missing required documentation

21 Documents to Submit Your 2017 signed annual financial statements Fully completed budget template Organisational governing document (if a new applicant to Pobal) Evidence of co-funding & co-funding template. Quotations or building cost estimate 2017 pricelist VAT not recoverable template (if applicable)

22 FAQ s & Enquiries All enquiries through our Client Services Team Telephone: onlinesupport@pobal.ie Any Frequently Asked Questions (and answers!) will be added to the guidance document on the DAF portal and the Pobal website.

23 Thank you for listening Any Questions?