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.
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.