Nonprofits and EU grants [video]

Nonprofits and Grants : Nonprofit organisations provide a wide range of services and programmes to vulnerable individuals and communities across the European Union on a daily basis. They are structured differently in different countries but are in principle non-governmental bodies, established for a mainly social purpose, many with charitable status and either owned by the community or in trust for them. They are called many things; associations, cooperatives, mutuals, community groups, voluntary bodies, charities, social enterprises etc. However, they all provide an unseen but essential range of services to their communities of interest.

In this video Funding Master will explain how and why, nonprofit organisations should be using EU funding strategically to develop new and innovative solutions to their communities of interests and social mission. We explain the range of grants available and how a nonprofit organisation can utilise these funding programmes across a range of activities.  Funding Master’s team have worked in the nonprofit sector for many years, serving at all levels including CEO, Board member, Chairperson and volunteer levels. Nonprofits and EU grants is subtitled and translated in to several European languages.

Funding Master works with clients to develop, write and submit funding applications.  The opinions set out here belong to the author(s), they constitute opinion and nothing is intended to constitute advice.  The blog is authored by Funding Master’s founder and CEO, Dr. Ken Germaine.  Please view his profile and please connect with him at his LInkedin profile here.  Please contact us directly here if you have any questions on our work or this article.  More information on our website here.  Originally published on the Funding Master Blog.  For more information on Germaine Business Planning please contact us directly here if you have any questions on our work or this article.  More information on our website here.

Municipalities and EU Funding [video]

NEW: Municipalities and EU Funding : In this video, Funding Master explains how a municipality can use EU funding as a strategic lever to co-fund innovation projects.  This can work across the entire range of municipal departments. Not only does EU funding bring co-funding to projects but the requirement to collaborate with other municipalities, third-level institutions, community and voluntary organisations, business and other experts.  This can result in the innovative local project being far more impactful rather than going it alone. If a municipality does not have a designated EU-funding unit then working with Funding Master could provide an effective, cost efficient way to strategically use EU funding applications to support your municipality’s work.

Municipalities and EU Funding

Municipalities, also known as local authorities or local councils, exist in every EU country.    The exact roles and powers of municipalities vary from country to country, but the key functions and structures are universal.  Every municipality is run by, or accountable to, a council made up of elected local councilors.  The chair of the council is normally the Mayor.   Some mayors are directly elected and some are elected by the Council members.  Mayors have different levels of power and authority in different countries, but, in continental European countries Mayors have significant powers and effectively lead the council during their term of office.

Municipalities are the most basic level of democratic representation.  They deliver key services including planning and development of their city, area or region. They also deliver utilities and oversee a large range of services, including education and health provision in many countries.  They also have a key role in the economic development of their area, culture, libraries, environment, social services, provision of drinking water and waste services.  The list goes on.

The EU places great emphasis on regional policy and development, and recognizes the key role of municipalities in that policy.  So, municipalities are important governmental structures, under locally controlled councilors, that provide a large range of services to the local citizenry.

Funding Master works with clients to develop, write and submit funding applications.  The opinions set out here belong to the author(s), they constitute opinion and nothing is intended to constitute advice.  The blog is authored by Funding Master’s founder and CEO, Dr. Ken Germaine.  Please view his profile and please connect with him at his LInkedin profile here.  Please contact us directly here if you have any questions on our work or this article.  More information on our website here.  Originally published on the Funding Master Blog.  For more information on Germaine Business Planning please contact us directly here if you have any questions on our work or this article.  More information on our website here.

In defence of the ECB and IMF

I know I promised not to focus on Irish economic issues but I think it is only fair to put the European Central Bank (ECB) and International Monetary Fund (IMF) interventions into context. This may be seen as heresy by many people in Ireland at present, particularly some of those on the left but lets get the facts straight.

The question: what is the real opportunity cost to Ireland of borrowing from the ECB/IMF facility compared to a 10-year bond from the international bond markets? This after all is the real benchmark. Lets us focus on the total amount of interest accrued.

So to borrow €10 billion from the ECB/IMF facility at 5.8% over 7 years is €4.06 billion in additional interest payments, a total of €14.06 billion.

Now the real opportunity cost to Ireland of borrowing €10 billion in 10-year bonds on the international market to incur €4.06 billion in additional interest is an annual rate of interest or coupon of 4.06%. Thus, the real opportunity cost to Ireland as compared to borrowing 10-year bonds form the international bond market is actually 4.06%.

Let me translate, if Ireland went onto the bond market and borrowed money at 4.1%, then it would be cheaper for us to borrow the money from the ECB/IMF facility. 10-year bonds need to hit 4% and lower for Ireland to return to the bond market.

Ireland has not ventured onto the bond market since the second half of 2010 and the rates being asked of Ireland for 10-years bonds at Christmas exceeded 9% and is currently in excess of 8%. Thus, the ECB and IMF are lending us money at less than half the cost than is being asked on the open market.

The other point to remember for those who opposed the Lisbon Treaty is that the facilities being currently used to keep the Irish public sector afloat are all the direct result of the Lisbon Treaty. Had Ireland not passed that EU Treaty then we would not be accessing the current funding and would be paying more than twice the amount of interest on the open market.

So maybe we should give the EU and the IMF less of a hard time and reflect on the fact that €50 billion of that €85 billion facility is being made available to cover excessive government spending (nothing to do with the banks). We of course have the option to cut spending and not borrow the bulk of that €50 billion but that would require Ireland to actually exercise its sovereignty rather than moaning about what the EU and IMF are doing on us.