The foundation has been greatly influenced by the savings bank movement of the early 1800s which was started by the Reverend Henry Duncan. Duncan had a deep concern for the underprivileged and believed that poorer people should be encouraged to help themselves by saving for times of ill health, unemployment and old age. In 1810 he opened the first savings bank in Ruthwell near Dumfries and within five years savings banks based on his model were operating throughout the UK. As well as being the pioneer of the savings bank, he was also an acclaimed geologist, artist, writer, historian, anti-slavery campaigner and founding member of the Free Church of Scotland. The foundation was launched in 1986 and has since made over 42,000 grants worth more than £330 million. Today it is one of the leading corporate foundations in the UK.
Why is Lloyds Bank Foundation a great grant-maker?
The foundation is a very responsive organisation. It works hard to listen to charities and other funders to make sure it is targeting the areas in which they feel they can make the biggest impact. The funding available supports the core work of charities as well as areas of development that will support their growth, two types of funding that can often be difficult to find for charities. The foundation’s website is also very user-friendly with an online application facility and excellent support for applicants.
What support do they offer?
In 2013 the foundation had a review of their work by talking to charities and other funders. The result of the review was a new strategy that focuses on young people and adults that are experiencing multiple disadvantages at key stages of their lives, often with little support.
The Invest programme provides grants from £10k to £25k for two to six years to charities that meet the programme aim. Core organisational costs (including running costs and salaries) are funded as well as direct delivery costs such as volunteer expenses, training and travel.
The Enable programme provides grants of up to £15k over two years. Funding is available to charities that have identified clear areas of development which will support their growth.
The ‘Key Facts and Figures’ section of the Lloyds Bank Foundation website provides details of the all the grants which have been made in the past. Information is provided on the purpose of the grant, the location and the amount. Fundraisers can use this to build a picture of who and what the foundation fund.
Further information including application deadlines can be found on the foundation’s website.