Context
- L&Q is a charitable housing association, operating primarily in London and the South East, which houses around 250,000 people in more than 95,000 homes.
- In 2011 they combined their charitable work under the banner of the L&Q Foundation. The Foundation invests in social and economic programmes that increase the opportunities and aspirations of their residents and surrounding communities.
Community wealth building activity
Charitable funding
L&Q, demonstrating their commitment as long-term partners in their neighbourhoods, provide funding of around £10m per year to the Foundation to benefit L&Q residents and communities. In 2019, this funding helped 606 people into paid work, supported 664 vulnerable residents in stabilising their tenancies and created an estimated £17m in social value.
Devolved decision-making for charitable grants
The L&Q Foundation’s Place Makers fund hands over decision-making responsibility to the community to determine which projects are awarded funding. The awarding of grants up to £10,000 is devolved to Neighbourhood Committees made up of L&Q residents and local representatives, ensuring that tenants have a direct say in ensuring L&Qs financial power is used to address issues they are facing. One example of a funded project is Pound Advice, an advisory service, which has helped L&Q residents on over 7000 occasions with budgeting, debt advice and financial planning. This has generated £25m in extra income for its users over five years.
Investing in the local VCSE sector
Moving forward, the L&Q Foundation is planning to increase investment in local social enterprises, as well as launching a capacity building programme to support the sustainability and resilience of these firms, ensuring that L&Q Foundation capital continues to circulate locally, spreading social benefits.
