Key advantages like personal contact by local grant managers and core funding to remain, but Foundation promises more feedback
- Lloyds Bank Foundation commissioned nfpSynergy to find out their stakeholder’s opinions and now they’re publishing the results
- 90% of grantees found the Lloyds Bank Foundation very helpful during their application process.
- 90% of grantees and 35% of unsuccessful applicants rated the application process excellent or very good. One reason was the positive impact of contact with a regional Grants Manager.
- 11% of unsuccessful applicants rated it ‘poor’ or ‘not good at all’. Reasons for this centred on inadequate feedback and a lot of effort for no reward.
- 95% of grantees say that the Foundation understands their organisation and its aims very or quite well.
- Grantees say the Lloyds Bank Foundation compares favourably to other funders. Areas of particular strength include ‘approachability of Lloyds Bank Foundation overall’ (89% say better than other funders), ‘the ease of the application process’ (76% say better than other funders) and ‘the speed of the decision’ (72% say better than other funders).
- 40% of unsuccessful applicants said they hadn’t received feedback and would have found it useful.
Successful applicants to the Lloyds Bank Foundation’s funding programmes view the grant maker very positively, according to new research into stakeholders’ experiences. Nine out of ten grantees found them to be very helpful and thought the process was very good, although their unsuccessful applicants were less positive about the experience.
The Foundation commissioned nfpSynergy to find out their stakeholders’ understanding, perceptions and perspective and have now made these results available to the public.
Nine out of ten grantees rated the application process ‘excellent’ or ‘very good’, while the same number found the Foundation very helpful. These impressive scores were driven by the contact applicants are able to have with a Grants Manager during the application process. There was also a lot of support for the Foundation’s commitment to core funding.
Those who were unsuccessful in their application were not so positive. They felt the Foundation’s feedback for unsuccessful applicants could be improved, with 40% of them reporting they hadn’t received feedback and would have found it useful.
The Foundation has used these findings in developing its new strategy of investing in charities supporting people to break out of disadvantage at critical points in their lives. With the launch of two new funding programmes, they will continue to provide core costs but offer larger grants over a longer of time to support charities through a journey of development. The Foundation is also implementing new ways of collecting data and is looking to develop its profile and national presence to champion the role of small and medium-sized charities.
Following the research, the Foundation has created an open approach to providing feedback to unsuccessful applicants. As part of its new programmes, applicants will receive a letter detailing the reason for their application being unsuccessful and be offered the opportunity to speak to their regional grant manager about any queries they may have.
The Lloyds Bank Foundation CEO, Paul Streets, said:
“This whole process was fascinating, revealing and rewarding. As a grant maker we want to support our charities to succeed and grow so putting them centre-stage is a key part of our new strategy. This research has really helped us understand the challenges we face and how we can develop to become a strong, national and trusted voice for charities. It’s a critical part of our job to ensure we effectively support as many charities as we can in order to deliver positive change, research is a key ingredient to doing that."
To read the research report on stakeholder perceptions, please click here