VETERANS' FOUNDATION - FAQ's
VETERANS’ FOUNDATION FAQs
1 Our estimates for monthly donations based on current growth in Veterans’ Lottery subscribers are as follows:
- In Nov '17, 42% went to good causes (circa £40K)
- By Feb '18, 50% will go to good causes (circa £65K)
- The proportion going to beneficiaries thereafter will keep rising.
2 The well-established National Lottery and Postcode Lottery give 23% and 29% to good causes.
3 We started the Veterans’ Lottery in Jul '16 with nothing. We have had to grow the Veterans’ Lottery so these results for a first year are impressive, Jul '16 - Jul '17:
- Income from the Veterans’ Lottery was £179K; in contrast, income in Nov '17 is circa £95K (reflecting terrific growth in the past few months)
- 28% of Veterans’ Lottery income went to good causes
- 50% went on prizes
- 16% went on marketing
- 6% went on running costs [kept low through the kindness of some benefactors and people working voluntarily]
4 Our aim is to maximise the amount we can give to those in need, but the Veterans’ Lottery, like any national lottery, does cost money to run.
5 However, 100% of donations to the Veterans’ Foundation is passed to beneficiaries through grant applicants.
Frequently Asked Questions:
What is the Veterans' Foundation?
The Veterans' Foundation has been created to establish a new and nationwide (GB) source of funding to help charities and other organisations that support serving and former members of the British Armed Forces, and sometimes their dependants, who are in need. It acquires its funds through the Veterans’ Lottery and donations.
How can I donate to the Veterans’ Foundation?
You can choose a one-off donation and this can be pledged through our website at www.veteransfoundation.org.uk/donate. Alternatively you can make donations through our donations bank account: Account name: Veterans’ Foundation-Donations. Sort code: 83-91-26. Account number: 65797073. Remember that 100% of donations will be passed to those charities and organisations helping armed forces people who are in need.
What is the Veterans’ Lottery?
The Veterans’ Lottery was established in July 2016 as a funding source to help members of the UK’s armed forces who are in need.
How much does the Veterans’ Lottery cost and what do I receive?
The Veterans’ Lottery operates through subscribers committing to a monthly direct debit of £10 to the Veterans’ Lottery. When you join, you will be sent a unique membership card bearing your name and number. The lottery draw takes place on the last day of each month and winners are posted on the Veterans’ Foundation website soon afterwards. All winners are also contacted directly. In addition to the membership card, you will be offered a complimentary Gourmet Society membership for as long as you sustain the Veterans’ Lottery direct debit (worth £69.99 annually). This membership can save you up to 50% in over 6,500 restaurants and pubs nationwide. You must activate the membership on receipt of your Veterans’ Lottery documentation should you wish to use the service.
What is the prize breakdown?
The Veterans’ Lottery prizes consist of a first prize of £5,000, a second prize of £2,000 and there are ten prizes of £100. There is also a rollover prize that grows as the lottery grows. If the monthly winner’s rollover number matches that drawn by the random number generator, you win the rollover prize as well as the first prize. If the numbers aren’t a match, the rollover pot carries over and this can grow to a maximum of £75,300. The rollover, if unclaimed, grows by 3 per cent of the monthly lottery income.
Who can apply for a grant from the Veterans’ Foundation?
The Veterans’ Foundation endeavours to make the grant process as straightforward as is sensible. Charities and organisations conducting charitable activities for serving and former members of the UK’s armed forces and their dependants may apply. We support a wide variety of projects such as those that reduce homelessness, increase employment, provide welfare and medical support, increase confidence and social integration, as well as reducing dependence on alcohol and drugs. Inside the first year (May 2017), the lottery was able to give grant to charities and organisations such as Bravehound, Combat Stress, FirstLight Trust, Dundee Therapy Garden, Forward Assist, HighGround, Launchpad, Scotty’s Little Soldiers, 64 Degrees North, Stoll, Houses 4 Homeless Veterans, Veterans Outreach Support, British Forces Foundation, Little Troopers, Mountain Way CIO, Sporting Force, Supporting Wounded Veterans, Turn to Starboard, Veterans Contact Point, Wings for Warriors.
How has the Veterans’ Lottery grown and what percentage of my Lottery membership goes to veterans?
The Veterans’ Lottery was started in July 2016 and the first draw saw only 100 people take part but with prizes of circa £8K. Each month the lottery has grown and now (early Dec '17) we have over 10,000 subscribers. Our aim is to give more than 50% of income to charitable activities, matching the best charity lotteries. For information, 28% of the National Lottery goes to good causes https://www.national-lottery.co.uk/life-changing/where-the-money-goes. The Health Lottery donates approximately 20% to good causes. http://www.independent.co.uk/news/uk/home-news/law-on-lotteries-under-review-that-could-make-richard-desmond-s-health-lottery-give-more-to-charity-8488018.html
What are the costs - do you have lots of staff?
The costs of running a national charity and a national lottery (governed to strict regulations) have been kept to a minimum. After having relied on benefactors to support running costs of the Veterans’ Lottery for the first 12 months, the Veterans’ Foundation is self-supporting. It keeps running costs to the bare minimum and maximises grants. The Veterans’ Foundation has one self-employed executive.
Are you a registered charity?
The Veterans’ Foundation is a registered as a charity in England and Wales with the Charity Commission and with OSCR in Scotland. The Veterans’ Lottery is run on behalf of the Veterans’ Foundation by MCLS Management Ltd and is managed in accordance with Gambling Commission regulations. Both the Veterans' Foundation and MCLS are registered with the Gambling Commission. Once the charity has been existence for 18 months, the Veterans’ Foundation will be qualified to apply for membership of Cobseo, the Confederation of Service Charities. The Veterans’ Foundation is also registered with Companies House.