The Sonthwold Miflennium Foundation, which was set up to promote charitable projects for the benefit of the local community, hopes to undertake as its first task the demolition of the old Stella Peskett Hall and the building of a new one. It is the only hall in Southwold which is owned by the community - but is now dilapidated and an unworthy home for the groups which use it.

The community's desire to have a hall that was both affordable to build and affordable to run was supported by the Town Council, and the Southwold Millennium Foundation, Charity No.l 084284, was set up on 7th November 2000. The 8 trustees, 4 members of the Town Council and 4 local residents, were chosen for both their abilities and to reflect a cross section of locals and incomers to the community.

The charity's aims and objectives are; - "The trustees shall hold the capital and income of any money or other property received for the trust upon trust to be used for any charitable purposes directed wholly or mainly for the benefit of the town of Southwold, Suffolk (whatever its area for the time being) or of the immediate neighbourhood or any part of the town as the trustees shall from time to time in their discretion decide.

The current fund raising events are the tours of Southwold lighthouse and the Wrentham Brass Band concert