Agenda item

Report of the Managing Director of BHE

The Committee considered a report of the Managing Director of BHE requesting £388,260 over three years as a strategic initiative to the School for Social Entrepreneurs (SSE), to support the charity’s work to build the digital infrastructure for a capacity-building and enterprise development programme for London-based and London-focused social purpose organisations. The Managing Director of BHE introduced the report and presented the proposals to the Committee. The Chair commented that this was an innovative piece which broadened the charity’s offering, before noting the 66% five-year survival rate of organisations supported by SSE.

In response to a question from a Member, the Managing Director of BHE confirmed that SSE would be paid to deliver the work and further explained the budget information set out in the report. The Managing Director of BHE also advised that employee pay was in line with usual expectations within the sector and was not disproportionately high.

A Member commented that they had previously dealt with SSE, adding that they felt their work was beneficial and represented significant value for money. In response to a question from another Member, the Managing Director of BHE advised that expected increases in revenue and viability for organisations following their work with SSE represented additional value.

Noting concerns raised, the Chair then drew the Committee’s attention to the recommendations, which were agreed.

RESOLVED - That the Grants Committee of the Bridge House Estates Board, in the discharge of functions for the City Corporation as Trustee of Bridge House Estates (charity no. 1035628) and solely in the charity’s best interests:

i)              Approve £388,260 over three years (£16,500; £188,830; £182,930) to the School for Social Entrepreneurs to develop a match trading portal and provide match trading grants to London-focused social enterprises.