Colchester Institute Foundation Trust
Formed in 1996 as a Registered Charity (No. 1060317), CIFT Colchester Institute Foundation Trust has the main purpose to raise income for the benefit of students at Colchester Institute, overseen by an appointed Board of Trustees.
The principal purpose of the Trust is to benefit Colchester Institute students who are experiencing financial hardship to the extent that they are unable to participate at College and complete or achieve their qualifications.
The College does have access to Government awarded Learning Support Funds to support students on low incomes and who meet pre-defined eligibility criteria, however, in the current economic climate these funds have been reduced (for example the scrapping of the previous Education Maintenance Allowance), at the time when requests for financial support from students is increasing.
In a lot of cases, due to their college commitments, students are unable to undertake formal employment, and there are those whose financial situations are really desperate and there simply isn’t the financial support available within College funds to help them to continue to study and shape their futures.
Colchester Institute Foundation Trust awards are only considered where a student can demonstrate commitment to their chosen course of study and the impact of the award is the difference between them staying on the course or having to withdraw.
The Trustees aim to attract and receive donations, to monitor investment and its income, and to apply or manage the funds to the benefit of the students residing in the catchment areas served by Colchester Institute.
Trustees have access to restricted funds and non- restricted funds, they can allocate from restricted funds if a request falls directly in line with the directives from the donor. Such funds include;
Swinburne Memorial Fund
WB Lake and HJ Smith Prize
Allan Hambly Prize
City and Guilds / Crittalls Prize