In March, the Foundation’s Board approved funding for a Hardship Fund. The Fund was created in response to the growing and urgent needs of the UK’s most vulnerable people and communities as a result of COVID-19. The Board approved funding in 2 tranches over the next 4 months.
For the initial tranche, the Fund prioritised support to the Foundation’s existing charity partners (over 50 UK wide and local, community based charities). Supported by Hymans Robertson’s internal volunteering team (Helping Hands), charities completed a simple application process with funding reviews undertaken weekly and, where approved, funding released within 3 working days.From Tranche 1, we:
- Received 25 applications (about 50% of eligible charities) from charities across the UK.
- Around 50% of applications responded to poverty and food hunger (supporting vulnerable children, young people and communities).
- Most applicants noted grant purpose resulted from falling fundraised income and/or increased demand for services.
- 12 applications (representing 13 charities) secured funding for vital services.
- Others, who weren’t directly funded were referred to other funders or charity partners.
Tranche 2 funding opened in May 2020, providing further emergency funding and extended access to charities nominated by Hymans Robertson staff.
