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Charity Finance Group launches £5,000 prize for the best new ideas

Chair Ian Theodoreson announces the Adrian Randall Prize, named after the group's late founder, at CFG's annual dinner

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The Charity Finance Group has launched a competition with a £5,000 prize to find new ideas in the field of charity finance.

The Adrian Randall Prize, named after the founder of the CFG, who died earlier this year, will be awarded annually and will provide a £5,000 grant towards the development of "an idea that will transform charity finance".

The news was announced by CFG chair Ian Theodoreson at his organisation’s annual dinner in London last night.

"Applicants are invited to submit ideas for new approaches and ideas in the field of charity finance, including creative solutions to tackling problems and issues that have been neglected or are difficult to address," the CFG said in a statement accompanying the launch.

The organisation said it was looking for "an idea that has the potential to advance our understanding and promote best practice in charity finance or has the potential to revolutionise how a charity does business".

The competition is open to all applicants and is not limited to CFG members or finance professionals. Applicants should submit between 300 and 400 words summarising their ideas

Finalists will then be invited to develop proposals with the assistance of Cass Business School.

The deadline for applications is 10 December.