As The National Lottery Heritage Fund, we distribute National Lottery grants from £3,000 to £5million and over, funding projects that sustain and transform the UK's heritage.
As The Heritage Fund, we distribute non-Lottery funding, including grant-in-aid/government funding and loans, to heritage organisations.
Subsidy Control information in relation to grant to Ironbridge Gorge Museum Trust
Date of grant: 1 February 2022
Grantee: Ironbridge Gorge Museum Trust
Category of beneficiary: Small and Medium Sized Enterprises
Subsidy amount: £9,974,353
Legal basis of subsidy: The Trustees of the National Heritage Memorial Fund (the body corporate which operates The Heritage Fund) has statutory power to award grants under the National Heritage Act 1980.
The Cultural Assets Fund was administered by the Heritage Fund, who distributed Grant in Aid monies (with funds provided by DCMS as part of the government’s wider Culture Recovery Fund) to support any heritage asset which is of outstanding importance to the national heritage and was at risk due to the impact of coronavirus (Covid-19)
Policy objective: To safeguard nationally important heritage assets within England which were at risk as a direct result of Covid-19.
Purpose of the subsidy: To safeguard, through enabling repair and conservation, a portfolio of 49 buildings and structures across the Ironbridge Gorge World Heritage Site, and to provide an endowment to enable the grantee to return to financial viability and operate post-pandemic.
Eligibility for the subsidy: Applicants to the Cultural Assets Fund had to be charities, not-for-profit organisations, or public sector organisations. The heritage asset had to be of outstanding importance to the national heritage and at risk due to the impact of Covid-19.
Basis for subsidy calculation: The project costs as set out in the grantee’s application and assessed and verified by Heritage Fund staff and the specially convened recommendation and decision panels.
Project Summary: The Ironbridge Gorge Museum Trust will use the subsidy funding to address a conservation repair backlog for 49 buildings and structures across the UNESCO World Heritage Site in Shropshire. The project comprises a three-year capital works programme which will enable IGMT to address the most urgent conservation needs which are currently beyond their financial capability and put the Trust back on a stable financial footing to aid recovery post Covid-19. The subsidy also includes £4.5m of endowment funding which will be managed by a professional Investment Management firm to generate income to fund ongoing conservation maintenance.