Foresight North East Lincolnshire

Foresight North East Lincolnshire

Foresight is committed to meeting the needs and requirements of disabled individuals, their families, and carers in North and North East Lincolnshire. Their mission is to provide the way forward for the disabled community, empowering individuals to a new beginning, a brighter future, and a full and enjoyable life.

02 May 2025
02 May 2025
Image
Foresight building
Duration
20 years
Cost of capital
2.25% above Base Rate
Turnover
£1.15m
Amount invested
£150,000
Product type
Blended – part grant, part loan
Year of Investment
2025
Investor Details
Charity Bank

"Social investment has taken us from being grant-dependent to a totally sustainable organisation. It has allowed us to expand our services, purchase and improve buildings, and significantly impact the lives of people with disabilities in our community.”

Paul Silvester, CEO at Foresight N E Lincs 

Challenge 

Foresight aims to address the lack of adequate support and facilities for people with disabilities in the community. The goal is to improve the quality of life and independence of individuals, addressing health inequalities and offering comprehensive support through various initiatives.

However, Foresight realised that to ensure future growth and sustainability, it needed to shift from relying on grants to becoming a provider of mainstream services.
Initially, there was resistance from trustees regarding taking loans, as they believed charities should not borrow money, which led to a turnover of trustees.

They sought social investment to help them to grow and expand the impact they could deliver housing for people with disabilities, tackle health inequalities in the community, provide day services and personal budgets for local people that needed more personalised support and to provide a range of activities for their community. 

Solution

Foresight has received finance from Charity Bank a number of times over the past few years. The investments were used for a variety of projects aimed at enhancing the quality of life for people with disabilities. 

This included purchasing and expanding day centres, acquiring and renovating buildings for rental income, and developing housing projects to provide suitable living conditions.
Investment from Key Fund was directed towards energy efficiency initiatives, such as installing solar panels and biomass heating systems, which helped reduce operational costs and improve sustainability.

These projects collectively enabled Foresight to become a grant-independent, self-sustaining organisation, generating significant income and addressing critical community needs.

Revenue 

Foresight generates income through several avenues:

Rental Income: they rent out spaces in their buildings to various entities, including local authorities, schools, and other organisations. For example, they rent out floors to a school for asylum seekers and children with special educational needs, and they also have a food bank in one of their other buildings. 

Housing Projects: their housing projects generate income through rent paid by tenants, including higher housing benefits due to their status as an exemplary landlord. They also rent apartments to the local authority for children in care.

Day Services: they offer day services for people with disabilities, funded through personal budgets and contracts with local health authorities. This includes renting space to local authorities for evening use. 

Energy Efficiency Projects: they have implemented energy efficiency projects, such as solar panels and biomass heating, which reduce energy costs and generate savings that can be reinvested into the organisation.

Property Development: they have developed properties, such as building houses on their land, which are sold to generate significant income. 
These diverse income streams have enabled Foresight to achieve financial sustainability, supporting them to thrive, not just survive, in challenging economic conditions. 

Impact

The investments have had a real impact on Foresight and the community it serves. The loans have enabled the organisation to transition from grant dependency to financial sustainability, empowering it to expand its services and facilities significantly. 

The investment facilitated the purchase and renovation of multiple buildings, which were then used to generate rental income and provide essential services such as day centres and housing for people with disabilities. 

This improved the quality of life and independence of the individuals using their services, addressing health inequalities and offering comprehensive support. Additionally, energy efficiency projects reduced operational costs, further strengthening the organisation's financial position. 

Foresight also has a strong volunteer base, with around 60 active volunteers weekly. They work with local providers, offering placements for health and social care students. This initiative not only provides valuable experience and training for students but also enriches the lives of those who benefit from the volunteers' support and care. By fostering a culture of learning and service, the organisation strengthens community bonds and enhances the well-being and quality of life for the community it serves.

“Foresight North East Lincolnshire (FNEL) are a financially sound, well managed organisation that deliver strong social impact and provide fantastic support to their service users. Charity Bank have proudly provided Foresight with loans several times over the years to help support their growth. This has helped them increase service provision to support even more people, as well as enabling them to build the asset base of the charity which in turn has diversified their income.”

Jeremy Ince, Senior Impact Lending Manager, Charity Bank