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William Leech Foundation
Supporting designated religious organizations
Founded: 1955
Charity Details
Full Name: The William Leech Foundation Limited
Founded: 1955
Type: Independent
Where Operates: North East England
Headquarters: Newcastle, NE1 8DF
Charity No: 231673 & 231674
History and Activities
The William Leech Foundation is composed of three separate, but centrally administered charities, namely, the Charity Trust, the Foundation Trust, and the William Leech Research Fund. These three charities are three of four charities associated with the philanthropy of Sir William Leech (1900 – 1990). The other being The William Leech Charity, which is a grant-making organization.
William Leech embarked on his long philanthropic journey well before his company went public in 1976. He was a committed Christian and gave the greater part of his wealth in support of religious causes. In 1955, he set aside 100,000 shares in the business, representing approximately 50% of the equity. This led to the formation of two related trusts (charity no.’s 231673 and 231674) in 1960, each endowed with a block of shares and each serving the same five religious organizations. The original intentions were to distribute half of the income to support five Christian charities in perpetuity and the other half, to national and regional charities. However, in 1973 this policy was changed and the entire income was distributed to the five charities. The beneficiaries of the trusts are The British and Foreign Bible Society, Church Mission Society, The Methodist Church in Britain, The Salvation Army and The Society for Promoting Christian Knowledge.
In 2016/17, the two trusts, which are administered as one, made grants totalling £1,330,817, divided equally between the five beneficiaries. Together, they had investments valued at £51,560,490. £16,221,533 sitting within the Charity Trust and £35,139,987 in the Foundation Trust. Added to this is a third related trust, the William Leech research fund (charity no. 1127350) that supports a Professorial Fellowship in Applied Christian Theology at Durham University, which in 2016/17 paid out £89,465 and had investments worth £1,748,846 at year end.
Vital Statistics for the Foundation Trust (year to 31/03/2018)
| Total Income:
| £ 617,080
|
| Voluntary Income:
| £ 0
|
| Investment Income:
| £ 617,080
|
| Employees:
| 0
|
| Total Expenditure:
| £ 1,302,241
|
| Grants to Beneficiaries:
| £ 1,170,780
|
| GR as % of TE:
| 89.9%
|
| Investments at Year End:
| £ 35,139,987
|
Vital Statistics for the Charity Trust (year to 31/03/2018)
| Total Income:
| £ 284,403
|
| Voluntary Income:
| £ 0
|
| Investment Income:
| £ 284,403
|
| Employees:
| 0
|
| Total Expenditure:
| £ 603,533
|
| Grants to Beneficiaries:
| £ 540,900
|
| GR as % of TE:
| 89.6%
|
| Investments at Year End:
| £ 16,221,533
|
References
The Charity Commission. (2018) The William Leech Foundation Limited - The Charity Trust, Available here (Accessed: 15/11/2018).
The Charity Commission. (2018) The William Leech Foundation Limited - The Foundation Trust, Available here (Accessed: 15/11/2018).
The Charity Commission. (2018) The William Leech Research Fellowship in Applied Christian Theology, Available here (Accessed: 15/11/2018).