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Grand Vaux Youth Club Jersey
Grand Vaux Youth Club Jersey
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Chairman's Statement 2015

REVIEW OF THE YEAR (Annual Reports and Accounts are available from the Executive Director on request)

CHAIRMAN’S REVIEW OF THE YEAR

On behalf of the board of trustees, I am pleased to present the annual report and accounts for the Foundation.

2015 was again a busy and productive year. As well as approving 22 grants to Guernsey and Jersey charities, we launched in conjunction with our sister foundation, Lloyds Bank Foundation for England and Wales, a consulting and mentoring service called Enhance. This service offers practical support to charities, covering such essential topics as corporate governance and financial planning and control. We also participated in a nationwide awards scheme to mark the 30th anniversary of all four foundations, as a result of which awards were made to six local charities, two of which were then entered for the national scheme.

Additionally, we ran two successful half-day autumn conferences on the topic of charitable funding. These addressed a wide range of topical issues including governance, fund-raising techniques, publicity and political awareness. The feedback from those taking part was excellent.

Our main focus, however, remained the provision of funding to Channel Islands charities working to relieve disadvantage, whether social, financial, mental or physical. Total grants during the year totalled £630,062 (2014: £754,502). The reduction reflects mainly a fall in applications from Guernsey charities, which we think is likely to have been a temporary phenomenon. A further £47,392 (2014: £47,523) was committed to the matched giving scheme, whereby qualifying fund-raising by Lloyds Bank staff is matched one-for-one by the Foundation.

Issue

No of Grants

Grants £

Advice and Advocacy

1

20,000

Community Support

3

26,250

Health including Mental Health

2

160,000

Homelessness

1

23,430

Offenders / Ex-offenders

1

12,000

Relationships including caring

1

25,000

Support for Children and Young People

6

150,642

Support for Older People

1

15,000

Support for People with Disabilities

4

123,775

Training, employment and lifelong learning

1

29,000

Victim Support

1

44,965

Total Grants

22

630,062

Our own revenue comes almost exclusively from Lloyds Banking Group plc. In addition to the covenant income of £460,500 (2014: £460,500) the Foundation received £75,000 (2014: £70,000) to cover a proportion of operating expenses. Charitable activity spend (including support costs) for the year by the Foundation was £778,977 (2014: £876,340). This resulted in a deficit for the year of £221,269 (2014: £319,149), which was less than planned, reflecting the lower than expected level of grants approved. Our funding is directly linked to the profitability of the Bank and we are hopeful that rising profits in the future will restore Foundation income to its former level.

In the meantime our overall financial position remains strong with reserves at the year-end of £1,117,911 (2014: £1,339,180). We intend to continue to deplete reserves cautiously to maintain an overall level of grants broadly consistent with our recent history.

Our executive director, John Hutchins, is retiring this year after almost ten years’ service. The board is extremely grateful to John for his dedication and boundless enthusiasm and we all wish him a long and happy retirement. I would also like to thank John Ferguson, who retired from the board in 2015, for his valuable contribution; we were fortunate to attract as his successor David Hodgetts who has brought a wealth of experience to the role. On a personal note I too will shortly be retiring; it has been a privilege to serve as a trustee for six years and as chairman for the past two.

It only remains to thank Lloyds Bank, and our sister Foundation for England & Wales, for their unstinting support and my colleagues on the board for their wisdom and commitment.

John Boothman
Chairman of Trustees (Retired June 2016)
  
 
  
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