Procurement experts Prosper has awarded £440,854 in Social Value Annual Dividend payments to 12 social landlords.
The funding covers the procurement throughput with Prosper for the period 1 October 2022 to 30 September 2023 and is a 37% increase compared to the previous year. Prosper has allocated 15% surplus contribution, an increase of 7.5%.
The company, which specialises in the delivery of bespoke end-to-end procurement solutions, issues funding annually to landlord partners from its Social Value Dividend Fund.
The purpose of the fund is for partners to reinvest the money into projects and initiatives that improve the communities they serve.
The 12 landlords are located across the UK from regions including the North East, Yorkshire, Wales and the South West with believe housing based in County Durham receiving the largest annual payment of £157,900.
Rod Brasington, CEO of Prosper, said: “We are delighted to announce our Social Value Annual Dividend fund payments which will hugely benefit the communities our landlord partners serve. Landlords can allocate the funding to any project that helps their communities flourish.
“This year’s Dividend has been boosted by a 15% surplus contribution which is a commitment by our Board and the total amount of £440K awarded this year is incredible. I’m really looking forward to seeing how this funding will impact local communities.
Newcastle City Council has been awarded a dividend fund of £107,691. Vicky McDermott, Director of Housing and Communities at Newcastle City Council, said: “We were delighted to be able to fund so many worthy community projects with the money we received from Prosper last year and look forward to doing more of the same with this incredible sum. We are committed to making a positive difference to our neighbourhoods, and this funding helps us to deliver on the things that matter to our residents.”
Karbon Homes has been awarded £95,941. Jessica Alexander, Social Value Coordinator from Karbon, said: “One of our key aims as an organisation is to help shape, strong sustainable places for our communities, and the social value commitments of our contractors and suppliers play an important role in elevating the support we’re able to provide.
“We’re delighted to receive this year’s dividend from Prosper, which will enable us to support even more brilliant projects and initiatives across the North East which help our customers and communities to thrive.”
While landlords can allocate the funding to support any project that benefits their communities, they are encouraged to spend it on projects that are educational, provide employment and training opportunities or support hard to reach groups.
www.prosper.uk.com