# Northern Rock grants £1.5 million to four community foundations

- Link: https://fundraising.co.uk/2015/02/02/northern-rock-grants-1-5m-four-community-foundations/
- Published: 2015-02-02T11:08:44+00:00
- Author: Howard Lake

Northern Rock Foundation has made grants totalling £1.5 million to four community
foundations in the the North East of England and Cumbria. These are part of its 
[final programme of work in 2015](https://www.fundraising.co.uk/2014/04/23/northern-rock-foundation-close/)
before it closes down.

Grants of £375,000 each were made to:

· County Durham Community Foundation

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· Cumbria Community Foundation

· Tees Valley Community Foundation

· The Community Foundation serving Tyne and Wear and Northumberland

The community foundations were selected so that the region will continue to benefit
from the Foundation’s funds in the future, even once it has closed.

Appropriately enough, The Community Foundation serving Tyne and Wear and Northumberland
will move into Northern Rock Foundation’s premises, The Old Chapel in Gosforth, 
Newcastle upon Tyne, later this year. It will offer the space free of charge for
use by community organisations for meetings and events.

## Grants in perpetuity from community foundations

Cumbria Community Foundation, Tees Valley Community Foundation and County Durham
Community Foundation will all use their grants to create a new fund within each 
of their endowed funds. These endowed funds will then provide annual grants in perpetuity
to organisations helping disadvantaged people.

Alastair Balls, Chairman of [Northern Rock Foundation](http://www.nr-foundation.org.uk/),
which is no longer accepting grant applications, said:

> “Community foundations are connected to a wide range of voluntary and community
> organisations which meet the needs of people throughout the region. These grants
> are part of the Foundation’s legacy programme and ensure that the last of the 
> Foundation’s funding provides long term benefit for current and future generations
> across the North East and Cumbria.”

Kate Stewart, Interim Chief Executive of [UK Community Foundations](http://www.ukcommunityfoundations.org),
welcomed the investment in community foundations from “an outstanding grant making
organisation”. She said:

> “The funding to community foundations, which will be invested directly into the
> local community, ensures that the work carried out by Northern Rock Foundation
> supporting people in the North East of England and Cumbria can continue long into
> the future. The endowment model used by community foundations ensures that such
> investments can be used strategically over the long term to address social issues
> at a local level.”

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