Northern Rock Foundation is an independent charity and company limited by guarantee, which aims to tackle disadvantage and improve quality of life in the North East and Cumbria. An independent Board of Trustees representing a wide range of interests in the community makes all decisions on governance, finance and policy, supported by a staff of 15. The Foundation gives grants to organisations which help people who are vulnerable, disadvantaged, homeless, living in poverty or are victims of crime or discrimination. We also support training, research and demonstration work and gather and share learning from the activities we fund. Where appropriate we seek to inform and influence wider regional and national policies and practice. From January 2011 the Foundation was supported by Northern Rock plc through a funding agreement to provide 1% of pre-tax profits. As part of the sale of Northern Rock plc to Virgin Money, which completed on 1 January 2012, it was confirmed that Virgin Money would extend the existing commitment, in respect of the Northern Rock business, until the end of 2013. There is also a commitment between the Foundation and Virgin Money to see how we could work together beyond that date.
