MSP REGRETS DECISION BY LEADING CHARITABLE FUNDER TO CLOSE ITS DOORS ON NEW GRANTS
Central Scotland SNP MSP John Wilson, a member of the Local Government and Communities Committee, regrets the decision by Lloyds TSB Foundation for Scotland to close its doors to new applications for grants which will result in a £6 million loss to hundreds of charities throughout Scotland.
Since it was established in 1985, the Lloyds TSB Foundation for Scotland has made in excess of 12,000 grants to charities working with disadvantaged communities and people.
The Independent Foundation is funded from Lloyds Banking Group’s pre-tax profits and distributes about £6m to Scottish charities each year. A total of approximately £85 million has been distributed since its creation.
The Foundation has made a commitment to honour existing arrangements and will make final awards to charities in December as planned.
John Wilson MSP said “it is clearly regrettable that the Lloyds TSB Foundation for Scotland shall no longer be accepting new applications. This will have serious consequences on the voluntary sector in Scotland, particularly upon those organisations whose financial security relies upon grants such as these”
“At a time when the voluntary sector is being called upon to assist the disadvantaged who are suffering most during this period of economic turmoil, it is deeply troubling to learn that charities and voluntary organisations are being placed under further economic pressures”