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Northern Rock Foundation slashes its grants programme
By Helen Warrell, Third Sector Online, 15 October 2007
The Northern Rock Foundation has announced that it is to scale back its grant-giving by up to £9m this year because of "financial uncertainties" about its future.
The foundation, which funds organisations tackling poverty and disadvantage across north-east England and Cumbria, is taking the action because of the effect of this summer’s credit crisis on its parent company, the mortgage lender Northern Rock. A spokesman for the foundation told Third Sector that trustees decided last week to...
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