Lloyds Bank Foundation for England & Wales has published its new strategy for the next five years. Included in the ‘Reaching Further’ strategy is:
- A pledge to boost its additional support for the charities that it funds, which will include an expansion of its mentoring scheme whereby members of Lloyds Bank plc volunteer their expertise to grant receiving charities.
- The Foundation mainly funds organisations with an income of less than £1m.
- An increase in the size of its largest grants to £200,000 over their six-year duration
- A target of funding 700 charities at any one time until 2022
- A pledge to offer longer, unrestricted grants to more small charities together with six-year grants with a break clause after the third year
- The continuation of its advocacy work, with a particular focus on producing research and campaigning for policy changes on behalf of small charities.
The Foundation offers two grant programmes:
Invest grants – long-term funding for the day-to-day running of a charity (core costs), and/or the direct delivery of a charity’s work. Grants of a minimum of £30,000 to a maximum of £100,000, delivered across three years are available with the opportunity for continuation funding (up to six years in total). There are set annual rounds – see the funding timetable for Invest grants. The next round opens on 27 August 2018 and closes on 5 October 2018.
Enable grants: Enable grants are awarded to charities which have identified clear development needs with grants of up to a total of £15,000 across one or two years available to cover, for example, pilot initiatives, strengthening monitoring systems or creating stronger business plans and service development plans. This programme is temporarily closed and will reopen for applications under new guidelines on the 27th August 2018.
Charities can apply for either programme, but not both.