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Spectrum Housing Group receives £260,000 gift aid donation from commercial arm

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Spectrum Housing Group receives £260,000 gift aid donation from commercial arm

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Published by Jon Land for 24dash.com in Housing

Spectrum Housing Group receives 260,000 gift aid donation from commercial arm Spectrum Housing Group receives 260,000 gift aid donation from commercial arm

Spectrum Housing Group has received a gift aid donation of £260k from its commercial arm.

The money from subsidiary company Spectrum Property Care will go towards furthering the housing group's charitable objectives in meeting housing need.

Since 2008, Spectrum Property Care has gift-aided £640k to its parent company.

In a statement, Spectrum Housing Group said: "Although Spectrum Property Care operates as a commercial arm of the group, it doesn’t exist to make money for individual or institutional shareholders. Instead its contracting profits are reinvested back into social housing activities.

"The company’s profits are generated from repairs and maintenance services provided to external clients."

Paul Bryan, managing director of Spectrum Property Care, said: “I am very pleased on behalf of the board to have been able to make this donation. This is the highest level of annual gift-aid we have made to support our social housing activities in the South West.

"It gives everyone in my company a sense of purpose to know that our hard earned revenue goes towards the provision of essential services for those in housing need.”

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