Lloyds Bank Foundation relaunches grants programme with a simpler, more flexible and transparent approach
Core funding grants worth up to £100,000 are now available for small and local charities through a new simplified, more flexible and transparent approach, Lloyds Bank Foundation for England and Wales has announced.
The Foundation – an independent charitable trust funded by Lloyds Banking Group – partners with small and local charities who help people overcome complex social issues. Through long-term funding, developmental support and influencing policy and practice, the Foundation helps small charities make life-changing impact.
With small and medium-sized charities making up 96% of the charity sector yet attracting only 18% of the sector’s total income[i], the pressures facing many small charities supporting the hardest to reach people in their local communities are greater than ever.
The Foundation has refined and improved its approach to funding to better help charities be stronger and more effective.
This new approach involves:
- A continuously open application process, rather than in rounds, so that charities can apply for support whenever they are ready
- Clearer turnaround times for when a decision on funding will be made from the initial application
- Grants worth up to £45,000 and £100,000 available over three years (with the possibility of continuing to six years) that can be used entirely for core costs, with charities able to flex how much they spend each year.
- A simplified approach to reporting whereby charities can share existing reports they already produce, rather than having to complete bespoke reports for the Foundation ensuring charities maintain accountability to their boards and not the foundation.
- Support from the Foundation’s regional managers and access to the Foundation’s ‘Enhance’ organisational development programme, helping charities to become more resilient and sustainable
Eligible for support are charities with an income between £25,000 and £1m across England and Wales tackling complex social issues such as mental health, homelessness and domestic abuse[ii] and with a proven track record of helping people achieve positive change in their local communities.
Charities can check eligibility and apply for grants online through the Foundation’s new website.
The Foundation recognises that there are many charities out there who would like and would benefit from its support but, like any funder, there is a limit to the money available. The Foundation wants to be open and transparent with charities and make best use of their time spent applying for a grant, by being clear in advance which charities are more likely to be funded at any given time.
Eligibility criteria has been developed to ensure the Foundation can respond to areas and issues where need is greatest by analysing the number of eligible small and medium-sized charities in a given area, specific local needs and the size of the Foundation’s current investment in each issue and region. Depending on these factors, the new website – www.lloydsbankfoundation.org.uk – will advise a charity whether they are eligible to apply and, if they are, whether they can apply for £45,000 or £100,000. Criteria will be reviewed and updated every six months.
Lloyds Bank Foundation for England and Wales Director of Grants Harriet Stranks said: “Small charities are undervalued and under more pressure than ever, but they are reaching people and communities that big charities and organisations simply can’t. That’s why I’m delighted our new approach to grant-making, developed alongside the charities we work with, will aim to make the process even easier to navigate, more transparent and led by the needs of the applicant.
“Our ambition is to support small and medium-sized charities over the longer term. This gives the charities we partner with greater flexibility over how they use those resources, allows them to build an in-depth relationship with us and take advantage of the wide range of development support we offer including training, consultancy and mentoring.”
Changes to the Foundation’s grant-making processes are part of its Reaching Further strategy for 2018-2022.