The MAC receives funding from Dormant Accounts Fund NI

Anne McReynolds, Chief Executive of the MAC, said: “The MAC is Northern Ireland’s leading arts centre and we are always working to secure a long-term sustainable future.

“This allocation from the Dormant Accounts scheme allows us to offer something new and will help us plug into a network of universities around the world, developing an educational arts-led programme for international students.

“Students will have a work placement at the MAC and other local community organisations, which will help develop our reputation and Northern Ireland’s internationally, as well as generating new income. This is an exciting opportunity with unlimited prospects, and we are delighted to be able to get the project up and running.”

Dormant accounts are defined in the Dormant Bank and Building Society Accounts Act 2008 as those which have seen no customer-initiated activity for at least 15 years.

Under the Dormant Bank and Building Society Accounts Act 2008, the Reclaim Fund releases funds from dormant bank accounts to the National Lottery Community Fund for distribution to good causes across the UK.

The Reclaim Fund Ltd. (RFL), which was established in March 2011 to receive and invest dormant account balances across the UK, transferred the first tranche of monies from dormant bank and building society accounts to the National Lottery Community Fund on 2 August 2011.

The National Lottery Community Fund is the largest community funder in the UK awarding money, raised by National Lottery players, to local communities. Since June 2004, they have made over 200,000 grants and awarded over £9 billion to projects that have benefited millions of people.

They are passionate about funding great ideas that matter to communities and make a difference to people’s lives. At the heart of everything they do is the belief that when people are in the lead, communities thrive.

Kate Beggs, The National Lottery Community Fund’s Northern Ireland Director, said: "We are pleased to award a grant of a £100,000 from the Dormant Accounts Fund NI to the MAC, to improve their sustainability long-term, build their international reputation and strengthen community partnerships.

“Money from Dormant Accounts is helping to secure the future of voluntary, community and social enterprise (VCSE) organisations across Northern Ireland. It is building their capacity, resilience and sustainability so that they can continue to deliver services to local communities.”

Find out more: https://www.tnlcommunityfund.o...