The Lloyd's Register Foundation is a UK charity established in 2012. With our mission to protect the safety of life and property, and to advance transport and engineering education and research, the Foundation has an important role to play in meeting the challenges of today and the future.
Our vision is to be known worldwide as a leading supporter of engineering-related research, training and education that makes a real difference in improving the safety of the critical infrastructure on which modern society relies. In support of this, we promote scientific excellence and act as a catalyst working with others to achieve maximum impact.
We meet our aims by awarding grants, by direct activity, and through the societal benefit activities of our trading group, which shares our mission. Through our grant making we aim to connect science, safety and society by supporting research of the highest quality and promoting skills and education.
We are not funded by the public; our income is generated from the profits from our trading arm, Lloyd's Register Group Ltd, and investments. In 2015/16 our income was £29 million and we awarded grants of £34.6 million. This equates to charitable spending of 119% of income, with the Foundation digging into its reserves to fund charitable causes. In the 2014/15 financial year, charitable spending was £12.7 million or 65% of income.
We also discharge our charitable purpose through the safety related activities of our trading arm – such as safety inspections on 8,500 ships each year, rules for the safe construction and maintenance of ships, verifying the safe design and operation of oil rigs. For more information about the activities of Lloyd's Register Group Ltd visit www.lr.org.