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Boxing foundation
In November 2005, the new Board of the ABAE agreed to establish a 'Boxing Foundation' for the benefit of the sport. This 'Foundation' is part of the long term plan to protect the future of amateur boxing in England.What is the Boxing Foundation?
Each year, the Board of the ABAE, has agreed to invest 25% of all 'Affiliation Fees' received. These monies will be invested and each year 'any interest' generated will be available, in the form of grants, to any affiliated club of the ABAE.
These 'grants' will go only to 'community boxing' projects and will not be available to representative or elite squads.
Initially the ABAE has invested £61,000 with at least a further £50,000 in 2006.
How can I apply?
It is expected that the criteria for applying for funding will be published during the Summer within the first grants awarded in April 2007.
The 'Boxing Foundation' will only allocate grants equal to the amount of interest generated each year. However it is envisaged the 'Foundation' will grow each year through the '25% of Affiliation Fees' being committed.
Who decides what grants are given?
The Board of the ABAE has established a 'Boxing Foundation' Group who have delegated authority. However all minutes of this Group (and its decisions) will be reported to the Board. This Group comprises
- Chairman of the ABAE
- Boxing Director of the ABAE
- Chief Executive of the ABAE
- Director of Finance of the ABAE.
Individuals are not appointed, it is the postholder. The 'Foundation' is not a charity nor a Trust. It is solely managed, and under the complete control, of the ABAE Board.
It is envisaged the 'Group' will publish an 'Annual Report' of its activities, which will be available to all members.