Big Issue Invest has committed £1.5 million to support a Colchester hospice’s lottery business to help hospices and charities across the UK to meet their funding goals.
The social investment arm of The Big Issue, BII, made the investment into St Helena Hospice (SHH) allow them to generate more income to support not only their own service but those of 13 other hospices and seven charities.
They do this through their successful in-house lottery business, which was opened up to other hospices to run it on their behalf as Your Hospice Lottery (YHL), back in 2011.
YHL now has over 60,000 numbers in play across 14 hospices in their weekly draw and has so far raised over £9m for hospice care. In 2017, St Helena set-up Make a Smile, a lottery product to reach the charity market, beyond just hospices.
Currently the lottery achieves an annual gross income of just over £4m and makes around £1 million profit for St Helena, additionally contributing over £1 million to other hospices and charities.
Brian Bolt, St Helena’s director of finance, said: “With this investment, we have the opportunity to work on attracting new partners and new lottery players, which will raise the profile of St Helena and its charitable partners and provide more jobs as the lottery grows.