Our response to the Cost of Living Crisis

The ongoing cost of living crisis is causing significant hardship to many Lambeth residents and local organisations are facing the twin struggle of their own rising costs coupled with increased demand for services.

In response to this, Governors of the Walcot Foundation have added an additional £300K to our annual grants budget in order to provide some assistance. 

This includes:

1. Support for Lambeth residents in crisis: £50K grant to Norwood and Brixton Foodbank to enable the four Lambeth Trussell Trust foodbanks to provide supermarket vouchers and energy top-up payments to foodbank guests.
2. Increased support to individual grantees: Current Walcot university student grants increased from £1,500 per year to £1,800 per year and all new applicants can apply for increased maximum of £1,800 (additional total cost - £60K)
3. Support to local organisations: Cost of living crisis top-up grants to local organisations with currently funded projects (£190K).  This is to help organisations (in a small way) with the increased costs over the winter.  These grants are unrestricted and do not need to be reported on.  The size of the grant is linked to the turnover of the organisation (under £50K turnover - £1.5K grant; £50K-£500K turnover - £3K grant; £500K-£1m turnover - 5K grant).

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