Finance expert donates £50,000 to provide financial education fund for citizensFeb 02, 2017
Financial planning specialist Wealth & Tax Management has announced plans to donate £50,000 to Milton Keynes Community Foundation, which provides grants to not-for-profit charities, voluntary groups and community initiatives.
The firm wants to help as many residents as possible to become financially literate and 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.
Wealth & Tax management managing director Tony Byrne (pictured) said: “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.”
The donation will be made in annual payments of £10,000 and the money will be managed as The Tony Byrne Financial Education Fund. Good causes will receive 50% of the money, with the other half placed into an endowment where it will be invested indefinitely.
Income from the endowment will be given to charities and self-help groups each year with the proviso that the money must be spent on financial education for Milton Keynes people of all ages, with the aim of making them financially self-sufficient.
The Community Foundation has awarded grants totalling more than £20 million to charities and community groups in Milton Keynes over the past 30 years.
Its director of development Jennifer Walker said: “It is a generous donation to assist projects which improve financial wellbeing in the Milton Keynes area. This kind gift will help us continue the work we do to make Milton Keynes a great place to live and work for everyone.”