Grantmaking by UK foundations up by 10 per cent but overall income is down
Grantmaking by the UK’s top 300 charitable foundations increased by 10 per cent to £2.4bn between 2010 and 2013, new research shows.
But the report, Foundation Giving Trends, published today by the Association of Charitable Foundations (ACF), finds that over the same period foundations experienced a drop in income of 9.7 per cent to £2.3bn.
The ACF said the “unprecedented” growth in grantmaking at the same time as a drop of the same amount in income, showed the importance of foundation assets, which have allowed several larger foundations to increase their funding in a time of greater need and reduced government spending.
The report was the first in a new series of annual research on foundation giving trends, which is being led by Professor Cathy Pharoah of the Centre for Giving and Philanthropy at Cass Business School.