Fears that the Northern Rock Foundation's future support for museums in the north-east of England may be in jeopardy are groundless, according to Fiona Ellis, the foundation's director. "We have built a nice fat reserve to cover our grants for the next few years," she told Museums Journal.
The foundation, which distributes about 5 per cent of the troubled Northern Rock bank's pre-tax profits, has recently announced £28m worth of funding. Grants include £500,000 to Tyne and Wear Museums and its partners to create the Great North Museum, and £100,000 a year to run the Baltic.
Bede's World in Jarrow has had more than £320,000 of funding from the foundation in the past four years. Director Keith Merrin, said: "As a major sponsor, and employer, the potential problem down the line could be a double whammy for the region."
Javier Pes
The foundation, which distributes about 5 per cent of the troubled Northern Rock bank's pre-tax profits, has recently announced £28m worth of funding. Grants include £500,000 to Tyne and Wear Museums and its partners to create the Great North Museum, and £100,000 a year to run the Baltic.
Bede's World in Jarrow has had more than £320,000 of funding from the foundation in the past four years. Director Keith Merrin, said: "As a major sponsor, and employer, the potential problem down the line could be a double whammy for the region."
Javier Pes