Posted on 04 August 2021
Hyde Foundation and Hyde Charitable Trust (HCT) generated at least £18m of social value in 2020, benefitting both customers and Hyde directly, and other stakeholders such as the NHS and the DWP, and the economy as a whole indirectly as a result of positive changes to customers’ lives.
The benefits included:
- £1.6m in temporary accommodation costs avoided for local authorities
- £887k cumulative income gains for customers
- £701k raised in community funding
- £131k savings to the NHS
- £2.9m in avoided evictions costs to Hyde
- £956k value of grants made to individuals and communities.
Published today (5 August 2021), the Hyde Foundation’s 2020 Impact Report tells the story of what Hyde Foundation and HCT do, and summarises research carried out to measure the social impact on Hyde’s customers and communities.
HCT also made additional funding available to customers throughout the pandemic: releasing an extra £600,000 to set up an emergency relief fund for community individual grants; setting up a rent relief fund and awarding £484k to support customers in financial difficulty; and awarding £308,000 in crisis grants to help customers who couldn’t afford to buy food, helping families manage bereavements costs and supplying laptops for children so they could be home schooled.
The Impact Report includes case studies highlighting the real impact on people’s lives. For example, our customer, Sarah, explains how Hyde Foundation saved her and her son’s life. When her son’s father set fire to their home, they were left with nothing. Thanks to Hyde Foundation, Sarah and her son are “alive, housed, fed and watered” – and Sarah is being supported in following her dream of volunteering with Women’s Aid.
The report also highlights how the work of Hyde Foundation and HCT contributes to Hyde’s wider goals, including its pioneering initiative to quantify the value of its social tenancies, as well as new measures Hyde is introducing to help improve its environmental, social and governance performance.
Kerry Starling, Head of Social and Economic Investment, said: “2020 was a difficult year for many of our customers and this report brings our social purpose to life. We have seen a significant increase in demand for support around employment, mental health, domestic abuse and food poverty since March 2020 and we expect this to continue to rise.
“Whether it’s helping to create places where people want to live, or offering support to help customers stay in their homes, Hyde Foundation and HCT play an integral role in delivering Hyde’s social purpose.”
Read the Impact Report’s accompanying document ‘Bringing our social purpose to life’ (PDF, 5MB).