Annual Review 2015/16

Our Foundation Review 2016 outlines the impact we’re making in becoming one of the world’s leading engineering research and education charities.

Income for the Foundation, which comes from Lloyd’s Register, the trading group, gift-aiding a proportion of its profits and from investments, was £29 million for the 2015/16 financial year, and grants awarded were £34.6 million (compared to £12.7 million in the previous year). In 2015 there was a renewed call on charities to demonstrate efficiency to maximise their contribution to society. The Foundation has demonstrated its efficiency, with 96% of expenditure during the year committed to direct charitable activities.

“Now in our third full year of operation we are seeing the Foundation continue to increase the scale of its grant funding strategy, with grants awarded in the year more than doubling year on year. The 2014-2020 funding strategy that we set out two years ago has given us focus to deliver a balanced portfolio of support to meet society’s needs,” says Thomas Thune Andersen, Chairman of the Foundation.

The major grants made by the Foundation during the year were a £10 million commitment to the National University of Singapore (NUS) to establish a world institute with an Asian focus on the public understanding of risk; a grant of £10 million to Ove Arup and Partners International Ltd for a joint programme with the Foundation to build resilience in critical infrastructure; and a £10 million grant as a founding partner of the Alan Turing Institute to develop research and education in the area of data-centric engineering.

1. Foundation at a Glance

   This section provides an overview of the Foundation’s key statistics for 2015/16, including funding sources, grant allocations, and an outline of their mission to support scientific research, education, and the promotion of public safety.

2. Chairman's Statement

   Chairman, Thomas Thune Andersen reflects on the Foundation’s growth and progress over the past year. It emphasizes the importance of scientific research in emerging technologies and the Foundation’s commitment to building a balanced portfolio of impactful grants.

3. Chief Executive's Review

   Professor Richard Clegg, the Foundation's Chief Executive, reviews the key initiatives and achievements of the Foundation, including new grant awards and partnerships.

4. Supporting Excellent Scientific Research

   This chapter details the Foundation’s commitment to advancing scientific research. It highlights key initiatives such as Foresight reviews in resilience engineering and structural integrity, as well as various grants supporting PhD students and research collaborations.

5. Accelerating the Application of Research

   Find out how the Foundation is focused on moving scientific research from theory to practical application. This chapter includes examples of projects aimed at enhancing the resilience of global infrastructure and partnerships with leading academic and industry institutions.

6. Promoting Safety and Public Understanding of Risk

   The Foundation is committed to increasing the public's understanding of risk and in doing so, has established Lloyd’s Register Foundation Institute for the Public Understanding of Risk in Singapore and the Our Lives in Data project with the Science Museum.

7. Promoting Advancement of Skills and Education

   Fostering skills and education across STEM, the Foundation has widened access for disadvantaged groups, inspiring the next generation of engineers.

8. Governance and Management

   This final section outlines the Foundation's governance structure, including details on the Board of Trustees, management team, and advisory committees. It provides transparency on how the Foundation is governed and managed to ensure the effective delivery of its charitable objectives

If you wish to use and reference the Annual Review 2015/16, please include the following DOI: https://doi.org/10.60743/we0h-v391.

Example Citation in Harvard Style:

Lloyd's Register Foundation (2017) Lloyd's Register Foundation Annual Review 2015-16. Lloyd's Register Foundation. doi: 10.60743/WE0H-V391.