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Reece Foundation
Supporting talent development for engineering
Founded: 2007
Charity Details
Full Name: The Reece Foundation
Founded: 2007
Type: Independent
Where Operates: England
Headquarters: Newcastle, NE15 6UX
Charity No: 1121325
History and Activities
The Reece Foundation awards grants and directly sponsors activities that “will increase the long-term and sustainable prosperity of the North East”. The foundation’s central aim is the promotion of engineering and manufacturing, but in particular, it focuses on education in engineering and related scientific and mathematical subjects.
In 2016, the foundation made 30 grants totalling £739,955, a 13% increase on the previous year. Since its establishment in 2007, the foundation has made a variety of generous, high profile grants. One such grant was £350,000 to Beamish Museum in 2009 in support of the Royal Heritage Engineering Centre project. This paid for the upgrade of existing workshop facilities at the museum alongside the development of two new workshop areas to enhance the museum’s ability to inspire young people about engineering. The project has enabled the museum to take on heritage skills apprenticeships, helping address the North East’s skills shortages.
The Reece Foundation seeks to inspire youngsters through practical experience, sponsoring the F1 and green power engineering competitions in schools, supporting talented pupils to attend Royal Institution lectures, funding Arkwright scholarships for those with most promise, and other imaginative schemes. The foundation especially aims to help young people from disadvantaged backgrounds, hosting engineering experience days to promote engineering to school leavers.
The foundation was the brainchild of academic cum entrepreneur, Alan Reece, who died in 2012. His legacy is the Reece groups of companies based at the Armstrong Works in Newcastle, which continues in the tradition of North East and engineering excellence, and his Foundation, which seeks to inspire the next generation of outstanding, innovative northern engineers, men and women.
Vital Statistics (year to 31/12/2016)
| Total Income:
| £359,841
|
| Voluntary Income:
| £0
|
| Investment Income:
| £359,841
|
| Employees:
| 0
|
| Total Expenditure (TE):
| £820,367
|
| Grants to Beneficiaries (GR):
| £739,955
|
| GR as % of TE:
| 90.2%
|
| Investments at Year End:
| £18,833,703
|
Website:
https://www.reece-foundation.org/