Tina Costello OBE makes money by giving it away.
“I’ve made a career out of giving away cash. Other people’s cash too! All ethically, of course,” says the CEO of the Heart of England Community Foundation.
Sounds like a dream gig. And a good way to make friends. But there’s a bit more to it than just biffing out fistfuls of fifties.
Outsourcing companies’ ESG – and doing it better
Tina’s organisation delivers ESG (environmental, social and governance) and CSR (corporate social responsibility) programmes for companies large and small, as well as for local and central government, across the West Midlands and Warwickshire.
“We work with companies to establish their own foundations through our charity governance, so they can deliver their own community programmes – and it ends up getting far better results than if these firms tried to do it themselves. We have the reach and the contacts, and we make sure 93 pence in every pound goes to the local voluntary and community sector,” says Tina, a mother of two adult daughters who lives near Meriden with her husband Kevin.
The Weslyan (Birmingham-based financial services provider), Coventry Building Society, IM Properties Ltd (Solihull-based property giant), Birmingham city council and Solihull metropolitan council are all donors.
93p in every £1 goes to local communities
The remaining 7 pence in the pound is the community foundation’s “management fee,” which covers its costs including Tina and her 14 staff.
Tina has worked for the Heart of England Community Foundation for 19 years. She was grants manager for eight years before becoming CEO 11 years ago. She got into this sector in 1997 when she worked as a grants assistant at the National Lottery.
While Tina is far too bashful to say so, she’s good at what she does. A fact recognised last November by His Majesty King Charles awarding her an OBE for charitable services, specifically leading on the delivery of £65m in grants within the region. To date 8,000 charities and local voluntary organisations in the West Midlands have been helped through grant funding.
In recent years, Heart of England has taken over the community foundations for the Black Country, Solihull and Birmingham after each went into liquidation. Tina’s expanding patch also includes Coventry and Warwickshire.
As well as money from companies and public sector programme budgets, the foundation’s income streams include yields from £23 million of investments: rental properties and funds under management.
“We need to keep diversifying our income”
Heart of England is one of 47 community funds across the UK. And while it’s thriving, and growing, Tina is not complacent.
“We need to keep diversifying our income, so if we lose one we still have others,” she says, repeating the mantra which has served her well, and will feature in the publication this month of her foundation’s five-year strategy.
“We need more funding, for us and the whole sector. Yes, we’ve had success but we can’t rest on our laurels.”
It’s all about the people and the stories
Tina costello, obe
Tina’s next appointment is with Victor Riley, 89, a gent she first met four years ago when, as a youthful 85-year-old, he announced himself at her Coventry office asking for a £5,000 grant to help with his endeavours restoring old race cars and bicycles.
“I fell in love with Victor and we’ve been friends ever since. Every few months he takes me out for a full English fry-up,” she says.
Aside from the CEO’s business acumen, herein lies the real secret to the Heart of England Community Foundation’s success.
“It’s all about the people and the stories. This is so much more than just a job. I just love this region and the people in it. As a born (in Sparkhill) and bred Brummie, I guess you’ll never take that out of me,” says Tina.
