Elize Hele and John Lanyon Education Foundations
Summary of Terms of Reference
Trustees: 5 Representative Trustees of which 3 are appointed by the City of Plymouth. No more than 9 Co-optative Trustees.
Meetings: The Trustees hold ordinary or stated meetings at least twice a year. There is a quorum when 5 Trustees are present. The Chairman and Vice Chairman are elected annually on the first meeting each year. Both are eligible for re-election.
Beneficiaries: Grants are available to both Boy and Girls resident with parents or guardians for five years within the boundaries of the City of Plymouth or designated parishes and who, in the opinion of the Trustees, are in need of financial assistance. Grants by both Foundations are to assist towards commencement at all levels of Further or Higher Education.
Funding and Grant Levels: The Accounting Year for both Foundations is from April 1 to March 31. The primary source of income is received from dividends on Share Unit holdings and interest on Deposit Account. Both accounts are with the Charity Commission Official Investment Fund. During the last financial year (2004/5) a total of 27 individual grants were made valued at £6835.00. An average of £253.00 per grant.
Meetings are held bi annually.