Mind has received the largest single donation in its 80-year history, the mental health charity has announced, which will be \u201csemi-unrestricted\u201d and verified through blockchain.<\/p>\n
The charity received a $10m (\u00a37.5m) donation from philanthropist, entrepreneur and global investor Dale W. Wood \u2013 via his firm Dale Ventures\u00a0\u2013 to support its work over the next decade.<\/p>\n
Wood is founder and chair of the global venture capital firm Dale Ventures, which invests in global companies across the finance, technology, real estate and consumer sectors, and has stakes in UK-based tech firms.<\/p>\n
His donation\u00a0is \u201csemi-unrestricted\u201d, which the charity said would give it the flexibility to channel the funding towards the areas that will have the greatest impact for people with mental health problems.\u00a0\u00a0<\/p>\n
The donation will be subject to blockchain verification, which Mind said would offer donors and recipients a clear understanding of how the funds have been applied to benefit those in need.<\/p>\n
A spokesperson for Dale Ventures said:\u00a0\u201cIt is a huge honour for Dale to support Mind over the upcoming years, through this donation. Dale\u2019s hope is that, by working together, we can achieve better for people living with a mental health problem.<\/p>\n
\u201cThis is a cause close to Dale\u2019s heart, and as many people know from life experiences, no community is untouched by mental health challenges.\u201d\u00a0<\/p>\n
\u2018Extraordinary commitment\u2019<\/p>\n
Mind said that the donation had come at a time of growing need to improve mental support, \u201cwith waiting lists at an all-time high and systems at breaking point\u201d.<\/p>\n
Sarah Hughes, chief executive of Mind, added:\u00a0\u201cThis extraordinary commitment\u00a0from Dale\u00a0Wood\u00a0comes at a\u00a0time\u00a0when\u00a0too many people are struggling to access mental health support [\u2026]<\/p>\n
\u201cWe must also be honest about the financial challenges we face in the charity sector. Rising costs, unpredictable income, and growing demand since the pandemic have seen mental health services stretched like never before, including across the local Mind network.<\/p>\n
\u201cThe generosity of supporters like Dale Wood shows real confidence in our direction of travel at Mind.<\/p>\n
\u201cIt empowers us to respond and adapt\u00a0\u2013 to keep investing where it matters most, campaigning for change, strengthening our network of local Minds, and making sure people have access to accurate mental health information.\u201d<\/p>\n
In its most recent accounts, Mind said<\/a>\u00a0that it was planning to run one additional year of deficit amid \u201cfinancial challenges\u201d.<\/p>\n