IfL set to transfer assets to Education and Training Foundation
The group’s advisory council will vote on the move on 17 July and if successful its legacy and assets will be passed to the charitable organisation by this autumn.
“IfL is currently in a sound financial position and holds surplus funds in reserve, in line with the reserves policy set out each year by the non-executive board,” said Sue Crowley, IfL’s elected chair.
“Following a detailed review, however, the board has concluded that without further substantial investment or alternative sources of revenue, IfL’s financial position would not be sustainable in the long term. More than anything, we wanted to ensure that the most valued aspects of IfL’s offer, the things that made IfL special, would be protected in the form of a legacy for teachers and trainers in further education and skills, and felt that it would be best to initiate an orderly wind-down of IfL and its operations.”
IfL members that have renewed their subscriptions until 31 March 2015 will become part of the Foundation’s professional membership to continue receiving access to CPD opportunities and support.
David Russell, chief executive of the Education and Training Foundation, said: “We are delighted to be offered IfL’s legacy and welcome the opportunity of supporting teachers and trainers in their professional development and ensuring that they have a voice.