Power to Change
The data over the next few pages in this sub-section covers two Power to Change emergency funds: Covid-19 Community-Led Organisation Recovery Scheme (CCLORS) and The C-19 Emergency Trading Income Support Scheme (TISS) launched in May, in partnership with Power to Change, Co-operatives UK, Locality and the Plunkett Foundation.
TISS was a £5m emergency finance scheme which distributed small grants of up to £25,000 to community businesses in England, as a contribution towards trading income lost as a result of COVID-19.
Both Power to Change emergency funds were largely focused around applicants that had a primary sector of a community hub / facility.
The C-19 Emergency Trading Income Support Scheme (TISS) launched in May, in partnership with Power to Change, Co-operatives UK, Locality and the Plunkett Foundation.
As shown in the graph below, the organisations who applied for the support scheme were generally small, with the median number of employees being 6. Looking at place, the majority of investments went to deciles 1-5 – the most deprived areas in the country - ensuring social impact objectives remain at the heart of social investment decision-making.
The graph below shows merged data across three of our new funds: CCLORS, RRLF and TISS and looks at applicant sectors and beneficiary groups.
Given that TISS and CCLORS were aimed at community-led organisations and businesses, it is unsurprising to note that Citizenship and Community is the biggest sector and beneficiary group. However, what this does highlight is the speed at which these organisations have responded to the needs of their community during the current crisis, and how they have sustained existing social infrastructure through the recovery.