Lloyds Bank Foundation for England and Wales has published its new five-year strategy, ‘Reaching Further’ which will provide more unrestricted grants to registered charities with an income of less than £1 million that work to help people overcome complex social issues and rebuild their lives.
The Foundation currently provides funding through two grants programmes (Enable and Invest), both of which are closed until 27 August when they are expected to re-open with new guidelines.
According to the strategy, over the next five years (2018-2022), the Foundation will fund at least 700 charities at any one time.
This will be:
- For longer – funding more charities for up to six years, focusing on those making significant impact for people and their local area.
- With more money – increasing the size of our main grants up to £200,000 over six years.
- More flexibly – with fewer restrictions on when and how charities spend the grant, because the Foundation trusts their judgement on how to best achieve the greatest impact.
- With a promise of high quality grant management and monitoring that works for them.
In addition to the grant funding, the Foundation will continue to provide extra non-financial support to strengthen charities.
Over the next five years, the Foundation will develop the charities it funds by:
- Becoming more systematic in how it helps them identify and overcome organisational challenges.
- Using data effectively to measure and adapt the support based on what works.
- Providing access to wider ranging expertise to help them become more effective and sustainable, through income diversification, fundraising, impact measurement and digital.
- Strengthening charities it cannot fund as well as those it can, to help build a more resilient sector and help unsuccessful applicants get funded in the future.
- Better partnership with others, including funders and local authorities.
- Working with staff at Lloyds Banking Group, building the Charity Mentoring Programme, offering consultancy and fundraising support to charities, and linking local businesses with local charities.
The Foundation’s two grants programmes (Enable and Invest) are expected to re-open with new guidance notes on 27 August 2018.