LEYF launches charity bond to help achieve plans to double number of nurseries
Katy Morton
Thursday, May 5, 2022
The London Early Years Foundation (LEYF) is launching a £1.5 million charity bond to raise money to help fund the acquisition of more nurseries, with the goal of doubling its settings from 39 to 80.
The nursery group, which operates as charitable social enterprise, had launched the charity bond to achieve its ambition of providing 10,000 children, particularly those from disadvantaged backgrounds across London, with access to high-quality and affordable early years education, by growing its number of sites.
Through the charity bond offer, LEYF will raise finance and philanthropic donations, which, over time, will be used to acquire and integrate new settings into the LEYF group, many of which it says would not be ‘attractive to for-profit providers’.
The seven-year bond offer is promoted by Triodos Bank through its crowdfunding platform and will pay 5 per cent interest annually. Investors will be given the option to forgo part of the interest by opting into a 0 per cent or 2.5 per cent interest rate instead. There is a £50 minimum investment, and the bond is eligible to be held in a Triodos Innovative Finance ISA (FISA) that allows interest to be received tax-free.
LEYF will also be seeking philanthropic donations and new partners to support its long-term strategy.
Currently the nursery group provides care to around 4,000 children across its 39 settings in 12 London boroughs.
June O’Sullivan, chief executive of LEYF, said, ‘We believe that the right early childhood education in the highest quality nurseries can support children to achieve their full potential. However, the sad reality is that many children from disadvantaged backgrounds or families struggling with poverty are unable to access an affordable nursery and benefit from high quality education. That is why the essential financing raised through this bond offer will enable us to significantly increase our social impact by opening more nurseries in areas of London that need us most.’
Richard O’Brien, corporate finance manager at Triodos, added, ‘LEYF is a great social enterprise to work with as it represents excellence in the quality of its nursery provision and innovation through its business model. This fits perfectly with the mission of Triodos Bank which is to help to create a society that protects and promotes inclusion and equality.’
- For more information about supporting LEYF contact partnerships@leyf.org.uk
