L&Q Foundation impact
One of L&Q’s values is ‘impact’ – we want to measure what we do by the difference we make. The L&Q Foundation wants to make sure we are having the right impact and, to do this, we collect evidence through our monitoring and evaluation framework.
We measure our impact because it tells us the effectiveness of our projects, whether or not projects are value for money, and holds us accountable. It also helps us to understand what works well so we can use evidence to inform future projects.
Our framework is shaped by outcomes from across our three pillars; independent lives, successful places, and socially responsible.
In 2017/18, our impact was evident because:
- We supported 572 individuals into paid work
- We raised £8m for residents as additional income through helping them access support and funding
- Over 6,500 children and young people took part in our activities
Click to expand the infographic below to see some of the other ways the L&Q Foundation made an impact in 2017/18:
We use the Wellbeing Valuation Approach developed by HACT to calculate the social return on investment and last year, for every £1 invested in our activities, we generated £3 in social value. You can find out more about our activities in our financial statements.
Recently, we took a closer look at our project offering L&Q residents financial advice and debt support. Pound Advice offers support through Citizens Advice and Money Advice Plus to help residents manage their money, improve their confidence when dealing with finances, and sustain their tenancies. We found that customers saw their average rent arrears fall by 22% a year after referral, increasing to 34% two years after referral so we can be sure that the service makes a real difference.
Our new £3m community fund
We’ve joined forces with three leading housing groups to create a £3 million fund to help regenerate communities.
The Community Investment Partnership (CIP) Fund has been set up to invest National Lottery funding in start-ups, businesses and charitable ventures that intend to improve the areas in which they are based.
Unsecured loans of between £25,000 and £150,000 will be given to social enterprises that may otherwise struggle to borrow money from banks. When the money is repaid, over a maximum period of five years, the aim is to put it back into new community projects.
We’ve collaborated with Orbit, Clarion Housing Group and Peabody to create CIP. It is supported by the Growth Fund, a joint initiative between the Big Lottery Fund and Big Society Capital.
Between us we already invest a total of £30 million into communities, and this new fund will aim to encourage innovation and creativity.
To apply for a loan, organisations and initiatives must prove that they will make a positive contribution to the local economy through jobs, training and access to services. They would also ideally strengthen communities through reinvestment and building partnerships, creating further economic benefits.
£2.98 million will be invested over the next three years, and partners will be used to make sure that beneficiaries have the right support to use the funds effectively.
The Growth Fund will be administered by ACCESS – the Foundation for Social Investment.
Matt Corbett, Foundation Director and Board Member of the Community Impact Partnership, said: “L&Q has a strong history of social investment and this new initiative will allow the Foundation to expand its portfolio of work. The fund will also allow us to learn alongside colleagues in the sector and most importantly deploy much needed investments in the community.”
Read the L&Q Foundation Annual report for 2017/18
Case Study: Young Carers
The L&Q Foundation supports local projects that give young people a better chance in life and strengthen the community. In this video, we explain how the Young Carers project supports young people aged up to 18 in Barking and Dagenham who look after a relative and whose school work is suffering as a result.