New chairman appointed for Lloyds TSB Foundation

The Lloyds TSB Foundation for the Channel Islands has a new Chairman.

Stephen Jones, a Jurat of the Royal Court of Guernsey, is well-known in the island for his work with a number of local charities over the years. He has been a trustee of the Lloyds TSB Foundation since 2009 and will serve a four-year term as Chairman, replacing Peter Mourant. The foundation helps the disadvantaged, disabled or disaffected by supporting small and medium-sized charities.

Funding for the Lloyds TSB Foundations – they also operate in England and Wales, Scotland and Northern Ireland – comes from a relationship with Lloyds TSB. The primary source of income from Lloyds Banking Group is specified by a deed of covenant, which allows the CI Foundation to make donations to local charities worth about £1m. a year.

The income stream has been maintained despite the global financial crisis, and funds are currently guaranteed to the foundations for the next three years.

‘As a charitable body we are in a fantastic position of not having to worry about raising funds,' said Mr Jones. ‘Instead we get the opportunity to give away up to £1m. a year to deserving causes. It's a good position to be in but it does come with responsibility too.'

The CI Foundation has awarded in excess of £12m. in grants since it was founded 25 years ago by the TSB Bank, and it has operated under the Lloyds TSB banner since 1995.

The four foundations that operate across the British Isles are all legally independent from the banking group, and the policies are determined by their own independent board of trustees.

Mr Jones said that the trustees – there are four in each island – had built up an in-depth knowledge of the requirements and problems experienced by third-sector organisations in their island communities.

The CI Foundation meets three times a year to consider funding applications from charities. Mr Jones said that they were always keen to attract requests, but the foundation would mostly expect to consider major long-term projects. Donations of up to £60,000 a year over three years have been made.

The foundation has often funded key worker salaries for charities for up to three years, allowing them time to find long-term sustainable sources of funding or to provide evidence of impact to make a case for States' involvement.

‘We want our funding to make a difference to each charity, and we focus on our ability to cover running costs of established charities, where other donating groups may focus solely on capital projects and equipment,' said Jurat Jones.

Large amounts have gone to medical, social and children's charities. Applications for funding are always welcomed. Making an application involves providing detailed financial information as well as definitive information about the request. If successful, the charity would have to make a progress report to the Foundation.

Jurat Jones retired as Island Director of Barclays Bank in Guernsey in 2002 after a 30-year career in the Guernsey finance sector. He was elected Jurat in 2008 and is known in the island for his charitable work, particularly as Chairman of the Guernsey Cheshire Home, and as treasurer of both Help A Guernsey Child and Guernsey Chest and Heart.

‘I just enjoy the work that goes with being involved in charities,' he said, ‘it's very rewarding.'