2 weeks Ago By [email protected] (Gary Porter)
Stoke-on-Trent gambling giant bet365 donated a whopping £120m to the Denise Coates Foundation during the last financial year - taking the charity's total funds to nearly £1bn. The figures were revealed in the latest accounts published on Companies House for the Etruria-based firm and the foundation. Bet365’s accounts reveal that its latest annual donation to the Denise Coates Foundation in the year to March 31, 2024 was up by £20m on the previous 12 months.
With interest and investment returns of £13.3m, the charity's total incoming resources was £133m for the year, compared to £108m for 2022/23. The charity's funds brought forward for the next financial year stand at £942.
3m - up from £730.2m the previous year. During 2023/24, a total of £11.
3m was spent or committed to charitable causes, with a total of 20 grants or donations made to 15 different institutions. Regarding the bet365 donation, the company's accounts state: "The size of the donations, and therefore the difference the Foundation has made, and will continue to make, to people's lives over the coming years, are of great importance to the Group." The foundation's accounts states that the £120m will be held as an expendable endowment and long-term investment, adding: "The return from which will be distributed to charities/charitable activities that align to the objectives of the Foundation.
" Causes benefiting from the Denise Coates Foundation during 2023/24: Dougie Mac Two grants of £1.3m and £300,000 "were made to support the continued integration of the hospice with another local entity, the Donna Louise Trust". The grants also covered the annual costs of a wellbeing programme aimed at supporting palliative care residents to find peace, comfort and fulfilment.
An additional £1m grant was given to the hospice to support its out of hours rapid response service. It will also be used to expand the community team and dementia services as well as the fit out of a wellbeing room. Universities Both Keele University and Staffordshire University were give funding for their bursary and scholarship schemes for undergraduates from disadvantaged backgrounds.
The University of Sheffield, where Ms Coates earned a first class degree in econometrics, also benefited. Each university received £200,000. New Vic Theatre A grant of £1.
2m was given to environmental improvements, refurbishment of backstage dressing rooms and facilities, and the upgrade of equipment. The Stoke-on-Trent theatre also received £100,000 for its award-winning Borderline initiative. A programme called New Vic Appetite - to develop interest in the arts - benefited from the acquisition of two large-scale illumination installations.
The Midlands Air Ambulance Charity A grant worth £500,000 funded a replacement air ambulance that will helps save lives across Staffordshire and the wider region. FareShare Midlands A £100,000 grant was used to purchase eight vans from Tesco's surplus van pool. The charity sources and redistributes good quality, in-date, surplus food that would normally go to waste to people and families in need.
The Land Trust The £700,000 grant provided continued support for Hassall Green Nature Reserve near Alsager. It helped with training courses and developing more in-depth community engagement activates. Hand in Hand The UK registered charity raising funds to educate, mentor, train and empower orphaned and vulnerable young people from East Africa received a grant to fund a computer lab.
The Children's Hospital Charity A £100,00 grant was provided to the charity that supports Sheffield Children's Hospital. It will cover the costs of creating a bespoke garden for children and young people at the hospital. Chronic Disease Research Foundation The independent medical research charity received two grants amounting to £4.
2m. It will fund a five-year ageing research project and pilot projects, offering fellowships to appropriate candidates whilst supporting PhD students and related project grants. A local medical research charity was also supported to fund research projects.
The Zoological Society of London A £300,000 grant helped the conservation charity to purchase essential items to continue delivering its world-leading work. Edmund Rice Development The charity, set up to tackle the root causes of structural power imbalances that have historically disadvantaged women, received a grant towards a three-year project. Get daily headlines and breaking news emailed to you - it’s FREE.
