Welland Homes donates its £111,000 year's profit to 2 charities
South Holland District Council owned firm, Welland Homes donates its £111,000 year's profit to 2 charities.
Welland Homes, a housing company wholly owned by South Holland District Council, has made the decision to donate its six-figure profit for the year to 2 local charities.
Welland Homes was incorporated in 2015 to increase housing supply in the area to meet existing demand, to set high standards for housing design in the District and improve the quality of rental accommodation available to residents.
Following a successful year, Welland Homes, who currently have 35 open market rental properties in its ownership, is forecast to make over £100,000 in profits by 31 March 2021. As a result the decision was made to donate £111,000 to support 2 local charities, Citizens Advice South Lincolnshire and the Lincolnshire Community Voluntary Services.
Citizens Advice will receive £84,000 as part of the decision, which would be used towards their aim of providing free, independent, confidential and impartial advice on rights and responsibilities, as well as support on a range of matters including money advice, welfare support, employment, housing and family and personal matters.
The remaining £27,000 will go to the Community Voluntary Services, who work in the District to enable individuals and groups to make a real difference in building stronger and sustainable communities through community engagement and promoting and supporting volunteering.
Members of the Welland Homes Board welcomed the decision saying: "After six years of great work and growth in the District, we are delighted that Welland Homes is seeing the deserved reward of all their hard work.
"To be able to make a charitable donation of this size is testament to the impact the company has had in the District, and also shows its continued commitment to support South Holland's residents wherever possible. We hope that this money will make a real difference to the two charities and to all the people they help every single day."