Risk-taker to share the lottery spoils
Article Abstract:
Timothy Hornsby, chief executive of the National Lottery Charities Board, will have the difficult task of setting up and managing the organisation which will distribute around 171 million pounds sterling a year from the National Lottery to good causes. He will have to deal with large numbers of applications, and will inevitably attract some criticism from charities which do not receive National Lottery funds. He already accepts that he cannot be universally popular, and has a strong, lively personality which will be able to deal with the stress of the job.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
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A 'good' cause to end good causes?
Article Abstract:
The UK's charities have seen a sharp fall in their income since the launch of the National Lottery, and could lose as much as 212 million pounds sterling by the end of 1995. Camelot, which runs the lottery, estimates that charities will receive around 155 million pounds sterling a year from it, but this will not be enough to make up the loss. The drop in donations is mainly a result of the general public having been given the impression that purchasing a lottery ticket is a good way of helping good causes.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
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Untying the hands of private trusts
Article Abstract:
The UK government is currently introducing legislation which will allow charitable and private trusts to invest a larger part of their funds in equities. They will still only be able to invest 75% of funds in equities, as the government claims that equities are less safe than gilts. However, this view is being challenged by fund managers and charities, and efforts are being made to obtain greater powers for trustees.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
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