Operational performance

Education

NWL is lead sponsor for Castle View Enterprise Academy, a new and exciting independent school for 11-16 year olds serving the areas of Castletown, Town End Farm and Hylton Castle in Sunderland. The area contains some of the most deprived wards in the region and 61%-80% of the school catchment population is categorised as being ‘struggling families’.

Castle View Enterprise Academy will offer a new approach to education and is one of three academies being created in Sunderland with the City Council as co–sponsor. It is a unique model under the ‘Building Schools for the Future’ programme. Our aim as lead sponsor is to create a centre of excellence with a clear focus on raising standards of academic performance and enabling every student to achieve their personal best in all areas of academy life within a safe, secure and stable environment. The project is now in its third year and we have committed time and resources to support the Principal of the Academy. The Managing Director chairs the Trust Board and employees have helped in the design, build and management arrangements. The Academy will open in September 2009 and the company will use its business networks to complement the specialism which is business and enterprise.

Economy

North East Enterprise Bond

Our investment in the bond is a five year interest free loan, which helped fund the purchase and running of a number of ‘Launch Pads’ – mobile vehicles that tour the region to help trigger and encourage enterprise start-ups to make real, long term change. Working with creative enterprise promoters such as Big Ideas, People into Enterprise and Newcastle Education Business Partnership, the bond serves as a catalyst to encourage people to set up their own business or social enterprise.

NEL Growth Fund

Our investment in the fund is to provide start up capital in eligible high growth businesses based in the north east of England. The fund is managed by NEL Capital the specialist venture capital division of NEL Fund Managers.

WaterAid

NWL has continued to raise funds and awareness for the work of WaterAid which brings sustainable water and sanitation solutions as well as hygiene education to the poorest parts of Africa and Asia. The employee fundraising committee has raised more than £3 million, since 1997, with the help of the company and last year focused its fundraising support on specific projects in Malawi and Burkina Faso.

Community Foundations

Community Foundations covering our areas of supply hold endowment funds totalling nearly £1 million contributed by NWL over the last 17 years. These are long term investments with the income from the funds used to support community initiatives. Recipients are chosen by committees of our own employees (64 groups this year).