When the economy is shrinking there is a risk that organisations become more inwardly focused and less focused on helping the outside world. This coincides with increased demands on charities and voluntary sector bodies in the Third Sector.
Community and Employees
Legal & General remains committed to its employees and our local communities. In 2008, we are pleased to report that our employees and companies contribution to our communities has increased by 34%. This has been achieved as follows:
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|
Community investment headlines 2008 |
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|---|---|
|
Our employees support causes they are passionate about through Give As You Earn, individual Matched Funding and location fundraising days (includes Matched funds) |
£1,572,327 |
|
We encourage the development of corporate governance skills and 58 school governors receive support for their schools |
£39,837 |
|
Our Young and Excellence Scheme supported 22 talented youngsters including athletes and musicians |
£44,152 |
|
We fund community projects around our main locations in the UK and 741 charities and not-for-profit organisations have benefited in this way |
£845,542 |
|
We provide expertise and assistance for community projects, which amounted to the equivalent of 866 days with a commercial value as a gift in kind |
£161,922 |
|
Key Group-wide projects important to the future of our businesses (Help the Aged, MEND, Crimestoppers, Climatewise, BITC Governance Research, BHF, London Climate Change Agency, Teachers Maths Seminars – Kings College (Institute of Child Health) |
£338,235 |
|
Our total charitable investment in the Third Sector during 2008 |
£3,002,015 |
The generation and distribution of time and effort was managed by our teams as detailed below:
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|
Management time |
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|---|---|
|
Location coordinators’ costs to work in our communities |
£77,222 |
|
Making a Difference Awards to reward employees for community work |
£17,438 |
|
Group CSR function costs |
£126,677 |
|
Total |
£221,337 |
|
|
|
|
2008 Total investment in the Third Sector |
£3,223,352 |
|
2007 Contribution to the Third Sector |
£2,400,000 |
|
Increased percentage support in 2008 |
34% |
There are two main aspects to our charitable budget. 80% is invested in support for local communities and approximately 15% is invested in Group-wide initiatives.
Our strength is in our locations where requests for charitable support are reviewed by local CSR professionals and their volunteer committees, who have a good understanding of the grass roots needs of their communities. Over 740 charitable donations were made in this way in 2008.
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