CareTech Foundation Trustees’ Report 2020 >> Plan for Future Periods
Trustees remain confident that the strategic aims established in the Foundation’s Strategic Plan 2018-2023 still hold good. These three strategic aims are:
- The Foundation will be a well-structured, ambitious and clear-sighted organisation, deliveringmeaningful impact to communities in the UK and overseas
- The staff of CareTech Plc and its service users will feel proud of and be strongly engaged in the Foundation
- The Foundation will be delivering a unique contribution to the charitable marketplace, consistent with CareTech Plc’s values and approach.
As part of our annual strategic review and reflecting three years of operations, trustees identified the following key lessons which the Foundation has learned:
- Our response to the COVID19 pandemic has demonstrated strength and relevance of the Foundation’s mission – and its agility to respond to this unprecedented challenge
- Clarity of purpose is essential to decide what to support; and similar clarity as to timelines and objectives of those supported is vital.
- There is growing interest in our areas of focus but we have carved out a clear position; there is much scope to contribute more widely to key social debates relevant to the Foundation’s work.
- Increasing engagement with other sector players is powerful
- The blend of Plc and independent trustees is really important; we are increasingly comfortable in managing the creative tension!
- Improved meeting management and engagement improves decision-making
- When Caretech Plc staff are engaged, projects can really come alive – but this can be difficult given the nature of the sector.
- Regular and meaningful performance monitoring is key but getting balance right between monitoring performance effectively and micro-management is tricky.
Plans for the future
For the year ahead, trustees have identified the following key objectives:
- To continue to effectively manage a portfolio of major partnerships, ensuring that they deliver the impact expected and that there is a strong and trusting relationship between the Foundation and its partners.
- To continue to grow the number of applications to the Foundation’s small grants schemes, with a spread across all areas of CareTech Plc’s operations.
- To agree the terms by which the Foundation can appropriately support CareTech Plc’s CSR agenda.
- To establish and successfully manage the new cross-sector Championing Social Care initiative as well as to continue support of the other hosted initiatives, which currently includes Connect the Love and Kit4Carers,
- To continue to build the Foundation’s profile among its core audiences.
- To ensure rigorous reporting and effective management of all current Partnerships, with well evidenced impact evaluation plans and reports using the Impact Assessment Framework informed by the updated Monitoring & Evaluation Report. In particular, we will focus greater attention and at an earlier stage to those partnerships falling short of expectations.
- To effectively manage the demand for new Partnerships, ensuring that the Foundation has a pipeline of powerful and innovative opportunities.
- To implement the agreed Income Diversification Strategy, noting that the COVID19 pandemic had a significant impact on plans this year.
- To review the Foundation’s investment strategy, especially in the light of the acquisition of the CareTech Plc shares.
- To establish the Foundation’s free reserves, in line with its updated policy.
- To develop at least one new co-funding partnership with another grant-making body.
- To work with the Foundation’s new auditors on the full audit to identify opportunities to further improve the charity’s systems and operations.
- To ensure continued high levels of compliance with the Charity Commission’s Guidance for charities associated with non-charities and with the Code of Good Governance.
- To continue to support the ongoing training and development of trustees and staff.
- To engage trustees further outside of formal business in the work of the Foundation and its communications activity.
- To continue roll-out of the new Monitoring & Evaluation form for existing and new partners.
- To publish our second Impact Report.