Four Lloyds TSB Foundations to share £29m from Lloyds Banking Group

Howard Lake | 5 March 2013 | News

• Tagged with:
• corporate
• deed of covenant
• funding

Lloyds Banking Group is to grant £29,227,920 to the four Lloyds TSB Foundations for 2013. The money is the annual funding paid to the foundations under a Deed of Covenant by the Group. This is the only funding that they receive.

The funding will be split as follows:

• Lloyds TSB Foundation for England and Wales: £25,242,000
   
• Bank of Scotland Foundation: £1,038,920
   
• Lloyds TSB Foundation for Northern Ireland: £1,872,500
   
• Lloyds TSB Foundation for the Channel Islands: £1,074,500

The Lloyds Banking Group's investment has remained the same for the past four years. From 2014, as previouisly announced, Bank of Scotland Foundation will receive a further £1 million each year.

The Foundations provide funds for local, regional and national charities across the UK, helping them make a significant difference to the lives of people within their local communities.

Graham Lindsay, Group Director, Responsible Business, Lloyds Banking Group, said: "Lloyds Banking Group's support and commitment to the four separate Foundations is deeply rooted and unwavering. The Foundations play an essential role in our society and, between them, help some of the most vulnerable people within our communities".

Matched Giving Scheme

The Foundations also manage a Matched Giving Scheme for Lloyds Banking Group employees across the UK. This enables employees to claim £1,000 per calendar year – £500 a year to match funds raised for registered charities that meet the Scheme's eligibility criteria, plus up to £500 a year (at a rate of £8 per hour) for time spent volunteering for eligible charities.

In 2012, there were over 6,100 claims from colleagues and charities shared almost £2.4 million of Matched Giving from the four Foundations.

www.lloydstsbfoundations.org.uk

About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale. He is the founder of Fundraising Camp and co-founder of GoodJobs.