Milton Keynes based financial planning company, Wealth & Tax Management, is donating £50,000 to the Milton Keynes Community Foundation, which provides grants to other not-for-profit charities, voluntary groups and community initiatives in Milton Keynes.
Tony Byrne, MD of Wealth & Tax Management, explains he first heard of the Foundation at a networking event: “I immediately liked the idea of supporting smaller local charities and self-help groups. The idea of giving back to our local community appealed to me and I thought there would be less waste in smaller organisations.
“Being able to meet the people working in these local groups is invaluable, because we can see our donations really do make a difference.”
And Wealth and Tax Management wants its donations to make a particular difference to financial education. The monies will be managed as The Tony Byrne Financial Education Fund. 50% will go to good causes each year and 50% will be placed into an endowment where it will be invested indefinitely. The income from the endowment will be given to charities and self-help groups each year; and the money must be spent on financial education for people of all ages in Milton Keynes, with the aim of making them financially self-sufficient.
Research proves that people who are financially better off live longer, are healthier and have fewer relationship breakdowns, which means fewer broken homes. Tony’s wish is to make as many people as possible not only financially literate but also financially self-sufficient, so they can enjoy these benefits.
Starting last month, the donation is to be staged in five payments of £10,000 per year.
Jennifer Walker, director of development for the foundation, is delighted: “It’s a generous donation to assist projects which improve financial wellbeing in the Milton Keynes area.
“Over the past 30 years, the Community Foundation has provided over £20millon to local charities and community groups; this kind gift will help us continue the work we do to make Milton Keynes a great place to live and work for everyone.”