21st January 2015
Northern Rock Foundation has announced four special awards totalling £1.5 million as part of its final programme of work in 2015.
Northern Rock Foundation has awarded £1.5 million in grants of £375,000 each to the region’s four community foundations in the North East and Cumbria. These awards mean that communities across the region will continue to benefit from the Foundation’s funds in the future.
Cumbria Community Foundation will use the funding to create a new fund within their endowed fund which will then provide annual grants in perpetuity for disadvantaged people. Andy Beeforth, Chief Executive of Cumbria Community Foundation said: “For many organisations in Cumbria, funding from the Northern Rock Foundation was a significant part of their income. We hope to continue supporting charitable groups like these, which operate in some of the most disadvantaged communities in Cumbria. The money will be endowed into the Foundation Grants fund, which addresses poverty and disadvantage, and will become a lasting legacy for the county.”
Alastair Balls, Chairman of Northern Rock Foundation 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. “
In the North East Tees Valley and County Durham Community Foundations will also use the funding to create a new fund within each of their endowed funds. The Community Foundation serving Tyne and Wear and Northumberland has used the grant in kind towards purchasing the Old Chapel in Gosforth from Northern Rock Foundation, alongside a gift from a private donor, which will become the Community Foundation’s new offices in 2015.