Motability Operations Limited (the company that runs the Motability Scheme) has today announced that they will be making a huge donation of £800 million to Motability’s new endowment fund. This donation comprises Motability Operations’ entire profits for the past year, plus the release of capital reserves of £370 million that was announced earlier this year.
The decision was announced in a statement by Lord Stirling, Chairman of Motability.
The endowment fund, which will officially be called The Motability Foundation, will mean that in the future Motability will be able to substantially grow their existing grant-making charity programmes and introduce brand-new initiatives to further support Motability customers.
According to Motability, initiatives currently under development include increasing passenger Wheelchair Accessible Vehicle grant-funding, expansion of the Drive-from-Wheelchair vehicle programme, increasing driving lesson support and funding and accelerating support of the Family Fund Mobility Scheme, which helps families with severely disabled children under the age of three with significant mobility needs.
Since 2008, Motability has invested around £1.4 billion into targeted initiatives to support Motability customers, such as free and subsidised vehicle adaptations, subsidised Wheelchair Accessible Vehicles (WAVs) and payments to Motability customers when they return their vehicles through the Good Condition Bonus scheme.
With the creation of the Motability Foundation more disabled people than ever before will be able to benefit from the charitable contributions of the Motability charity.
