VIVID Plus Investment Vault
Application Guidance and Eligibility Criteria
Version dated: [31/10/24]
Introduction
The purpose of the VIVID Plus Investment Vault is to support projects benefiting VIVID communities.
The funding partner is VIVID Plus, the charitable arm of VIVID Housing
Example projects include those which:
- Improving personal safety through crime prevention and youth support,
- Health interventions to improve life chances,
- Growing economic opportunities through employment and job creation,
- Promoting digital inclusion, alongside tackling homelessness,
- Investing in neighbourhood improvements and reducing stigma around social housing.
Once the Fund has been allocated no further applications will be accepted. The Fund maybe closed at any time.
Eligible organisations
Eligible projects must:
- Be within our areas of operation and benefit VIVID customers. Eligible locations include Hampshire, Berkshire, Wiltshire, Surrey, West Sussex, Portsmouth & Southampton.
- Have full regard to equalities and diversity and be inclusive and accessible to everyone.
- Have strong local support, shown through a vibrant crowdfunding campaign.
- Improve the health and wellbeing of local residents.
- Be shaped with local community feedback in mind.
- Encourage civic pride and cohesion in the community, and
- Create volunteering and / or employment opportunities for local people.
The following organisations are not eligible
- Individuals and sole traders,
- political organisations,
- national charities and
- for profit organisations
We are also not able to support the following
- Projects that seek to undertake work that conflicts with VIVID Housing,
- Organisations seeking to distribute grants on our behalf,
- Applications for the benefit of one individual.
How to apply
Applicants should create a project on Crowdfunder and if the information matches with the fund the project will be invited to apply through the Crowdfunder platform.
Applications will be reviewed alongside project pages. Please consult our Knowledge Hub to learn how to create a strong project page.
How much can you apply for?
If your application is approved, you’ll be offered match funding of up to 50% towards your initial crowdfunding target, up to a maximum of £2,000.
Selection process
All projects that meet the criteria set out above will be assessed to determine which projects will be selected for the fund. Project owners will be notified whether their application has been successful or not. The offer of match funding will be valid for [4] weeks after the date of notification, if you do not launch your crowdfunding campaign within this period, the offer will be rescinded.
We will focus on ensuring funding is distributed equitably, particularly in terms of geographic location and types of beneficiaries. A range of projects will be selected to achieve this.
Live match funding
The following criteria applies to live match funding:
a) All Pledges made by supporters will be matched pound for pound up to £250. This means that if a Project receives a Pledge of £50, VIVID Plus will donate £50. If a Project receives a Pledge of £500, VIVID Plus will donate £250.
b) The maximum live match funding a Project can receive from VIVID Plus is the lower of £2,000 or 50% of your target.
c) Live match funding will be given on the first pledge made to a Project by a supporter.
d) Projects must reach their project target by the end of their initial fundraising period to receive live match funding. If the project fails to reach 100% of the target the live match funding will be cancelled.
e) Pledges will not be matched where a project is “always on”.
f) The following Pledges will not be matched:
i) Pledges made before a Project is accepted to participate in the Fund or after a Project’s initial fundraising period ends.
ii) Second (2nd) and any subsequent (3rd, 4th, etc) pledges to the same Project by the same supporter.
iii) Pledges made by Organisations to their own Projects.
g) The live match fund will be distributed on a first come first serve basis. Being approved for match funding does not guarantee you will receive any live match funding.
h) Live match funds will count towards your Project’s target.
Additional Requirements
Project Owners or the campaigning organisation pledging to their own campaign is allowed, however this should not be a significant amount unless discussed before the pledge is added. Small offline donations that have been collected may also be added, however you may be required to evidence the origin of these pledges (receipts, letters of support, copies of cheques or bank statements etc.)
Projects will be required to agree to the Terms and Conditions.