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Prosper has presented an Annual Social Dividend Fund payment of £85,743 to Your Homes Newcastle to fund community initiatives, through the continued partnership between Prosper and Your Homes Newcastle.
YHN will be using around £50k of their funding to contribute towards the recruitment of an estate caretaker to respond to environmental concerns and low-level fly-tipping on YHN’s estates. The caretaker will be supported by environmental assistants recruited through YHN’s residents’ employability programme, providing them with work experience and new skills and knowledge to help them secure permanent employment.
Another portion of the funding from Prosper will go towards the Making Living Easier Fund, which is supporting YHN residents through the cost-of-living crisis. The funding will be used to provide financial assistance to residents for energy vouchers when they are in crisis and cannot afford to heat their homes, and also to prevent them from reaching this point, assistance through the purchase of household items that can help to reduce energy costs, such as purchasing air fryers, heavy winter curtains, and winter bedding.
YHN also plans to set a small amount aside so they can readily respond to requests of support from community groups and projects in their neighbourhoods.
Tina Drury, Group Managing Director at YHN, said: “We were delighted to fund so many worthy community projects with the money we received from Prosper last year and look forward to doing more of the same with this incredible sum. We are committed to making a positive difference to the neighbourhoods we work in, and this funding helps us to deliver on the things that matter to our residents.”
Rod Brasington, CEO of Prosper, added: “It’s great to see the positive impact Your Homes Newcastle has been able to make in its communities with the funding they received from Prosper’s Social Value Dividend Fund. We look forward to being able to support more YHN community projects in the future.”
Prosper issues funding annually to landlord partners from its Social Value Dividend Fund. The amount received is based on the procurement spend with Prosper of each landlord partner enhanced by the addition of a proportion of any surplus Prosper generates. The landlord is free to allocate the dividend spend to Social Value initiatives which best suit the unique needs of their communities.
To date, the total amount of funding issued by Prosper to its landlord partners is now in excess of £2.7 million. Once Social Value Calculator measures are applied, this equates to approximately £20 million of reinvestment in local communities.
Find out more about the Social Value Dividend Fund, here.