£7.2 MILLION FROM LLOYDS TSB GROUP FOR SCOTTISH CHARITIES
The four Lloyds TSB Foundations across the UK will receive £37.1 million this year from the Lloyds TSB Group following its annual results announced on Friday, 22 February 2008. £7.2 million is for work in Scotland, and will benefit charities supporting people who are disadvantaged or marginalised.
Mary Craig, Deputy Chief Executive for Lloyds TSB Foundation for Scotland, said: “This is fantastic news for the charities we fund, many of whom are working at a grassroots level. In 2007 we made awards of just under £7 million, and the £7.2 million we’ll receive this year means we can continue to invest in helping charities make a difference at the heart of our local communities.”
The independently run Lloyds TSB Foundations receive one per cent of the Lloyds TSB Group’s pre-tax profits, averaged over three years, in lieu of shareholder dividend to distribute to local charities throughout the UK. The four Foundations have distributed over £330 million since 1987, and the Foundation for Scotland is Scotland’s largest independent grantmaking trust.
(Posted by SD Enterprise)
