Support Scottish Charities: Sign the petition to save the Lloyds TSB Foundation for Scotland
Date: 16th June 2010
The Lloyds TSB Foundation for Scotland is one of the largest independent funders in Scotland. To date, the Foundation has distributed nearly £85m to charities and voluntary organisations. This has been a huge investment in community projects throughout Scotland. The Foundation now faces closure at the hands of Lloyds Banking Group.
The Foundation receives just 0.2% of the Bank's pre-tax profits, but this tiny percentage makes a huge difference to communities across Scotland. At the end of 2009 negotiations between Lloyds Banking Group and the Foundation took place. The Bank tried to impose both a reduction in funding and a loss of independence on the Foundation. The Foundation could not agree to this and as a result the Bank chose to terminate the historic covenant with the Scottish Foundation
The Foundation is now in a nine year notice period before the termination takes effect. If action is not taken to support the Foundation now, charities and voluntary organisations across Scotland will face a massive funding crisis in 2020.