The Lloyd’s Register Foundation is a UK charity established in 2012. With their mission to protect the safety of life and property, and to advance transport and engineering education and research, the Foundation has an important role to play in meeting the challenges of today and the future.
Their vision is to be known worldwide as a leading supporter of engineering-related research, training and education that makes a real difference in improving the safety of the critical infrastructure on which modern society relies. In support of this, they promote scientific excellence and act as a catalyst working with others to achieve maximum impact.
They meet their aims by awarding grants, by direct activity, and through the societal benefit activities of their trading group, which shares their mission. Through their grant making they aim to connect science, safety and society by supporting research of the highest quality and promoting skills and education.
Their strategy for 2014-2020 focuses funding on four strategic themes: promoting safety and public understanding of risk; advancing skills and education; supporting excellent scientific research; and accelerating the application of research. Four research themes are prioritised: structural integrity and systems performance; resilience engineering; human and social factors; and emergent technologies. For more information, go to their strategy section.
They are not funded by the public; their income is generated from the profits from their trading arm, Lloyd’s Register Group Ltd, and investments. In 2015/16 their income was £29 million and they awarded grants of £34.6 million. This equates to charitable spending of 119% of income, with the Foundation digging into its reserves to fund charitable causes. In the 2014/15 financial year, charitable spending was £12.7 million or 65% of income
They also discharge their charitable purpose through the safety related activities of their trading arm – such as safety inspections on 8,500 ships each year, rules for the safe construction and maintenance of ships, verifying the safe design and operation of oil rigs.
To secure for the benefit of the community high technical standards of design, manufacture, construction, maintenance, operation and performance for the purpose of enhancing the safety of life and property at sea and on land and in the air.
The advancement of public education including within the transportation industries and any other engineering and technological disciplines.