The work of the Lancashire Foundation is a crucial component of our corporate social responsibility activity. The Foundation is committed to channelling its resources in an effective way to meet the needs of our local communities and also international communities, and is particularly focused on helping young people and those severely disadvantaged in society. The Foundation recognises the financial pressure that charities face and therefore its donations are generally not tied or restricted to particular programmes or activities. We believe that the benefitting charities themselves are best placed to direct funds in the most efficient and effective way to ensure their sustainability and to meet their beneficiaries’ needs. We seek to enter into multi-year arrangements with the charities we support to assist in their sustainability.
The Foundation is funded by an annual donation from the Group. The Foundation currently holds 330,713 shares in the Company, which were generously provided to it by the Company. The additional income from dividends payable on the shares and the benefits that arise from the increase in the share price, link the performance of the Company to the resources of the Foundation.
The Foundation funds and manages our key flagship partnerships with MSF, International Care Ministries, Family Centre, Tomorrow’s Voices and St. Giles Trust, as well as a number of smaller charities nominated by our staff. Prospective charitable organisations are asked to provide a grant application form to the staff Donations Committee, which considers their funding proposals and, if agreed, provides a recommendation to the Trustees of the Foundation for their approval to release funds accordingly. Donations Committee members and other members of staff act as advocates for the charitable organisations that the Foundation supports throughout the year.
In very exceptional circumstances, the Foundation can provide additional emergency funding. In certain circumstances, the Foundation also sponsors charities suggested by others in our market place and, on this basis, in 2016 the Foundation has supported:-
Batten Disease Family Association
Back Up Trust
Skiing with Heroes
National Brain Appeal
Prostate Cancer Research Centre
Action Medical Research
Udaan India Foundation