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Family Foundation Giving Trends 2014 REPORT 6Th Edition of the Annual Report on Private Giving by UK Family Foundations

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Family Foundation Giving Trends 2014 REPORT 6Th Edition of the Annual Report on Private Giving by UK Family Foundations FAMILY FOUNDATION GIVING TRENDS 2014 REPORT 6TH EDITION OF THE ANNUAL REPORT ON PRIVATE GIVING BY UK FAMILY FOUNDATIONS INTRODUCTION This is the sixth annual edition of Family It complements the recent ‘sister’ report, Top 300 before the recession. This begs the question as Foundation Giving Trends. It provides an update Foundations, which focuses on the sector more to whether such expansion can be maintained on annual charitable spending by the top broadly.2 This edition of Family Foundation Giving through a time of lower growth and investment 100 family foundations – a key indicator of the Trends reveals that giving by ‘family foundations’, returns? The findings of this report demonstrate contribution of UK philanthropists, past and those founded by families, individuals and family the value of tracking foundation trends, and present. The report has been revised as part of businesses, reached its highest level in 2012- the continuing attractiveness of foundations a new series of foundation briefings published 2013, representing almost three-fifths of total as effective, tax-efficient vehicles for giving – by ACF and CGAP with support from Pears foundation giving. Much is due to generous past sufficiently flexible to respond to social need Foundation.1 Foundations may be funded endowments, but the report also highlights new and donor preferences within the framework through families, individuals, family businesses, giving as well as details of smaller and newer of public benefit. companies, government, or fundraising, and this foundations. Evidence suggests a possible report specifically focuses on family foundations. boom in building foundations and income just GIVING UP BY NEW DONATIONS DOWN BY 19% Our approach: 35%• are principally grant-making, and do CATHY PHAROAH This report focuses on the UK’s largest family not provide direct services foundations, those which: KEIRAN GODDARD • are ranked within the top 150 foundations • are founded through family, individual or by value of annual grant-making family business wealth, whether or not the RICHARD JENKINS • were established from the end of the founder is still on the governing board 19th century and onwards • devote 50% or more of their charitable For further notes on compiling the data spending to making grants see the back page. FAMILY FOUNDATIONS CONTENTS KEY FACTS 01 CONTRIBUTE ALMOST A CHANGING LANDSCAPE 03 THREE-FIFTHS OF ALL WAYS OF WORKING 05 FOUNDATION GIVING INCOME 07 ASSETS 09 BY VALUE – 59% US/UK 11 TOP 100 FAMILY FOUNDATIONS 13 THE NEXT 50 15 GLOSSARY AND REFERENCES 16 This report is published by the Association accredited to ISO 14001 standard. It uses Company registration No 5190466. of Charitable Foundations (ACF), Registered vegetable-based inks and the paper is Registered charity No 1105412. Office: Acorn House, 314-320 Gray’s Inn Road, Cocoon offset 100% recycled from Data provided by London, WC1X 8DP. FSC-certified sources. Telephone: 020 7255 4499 © ACF 2014. Extracts from this document Email: [email protected] may be reproduced free of charge on Website: www.acf.org.uk condition that the source is acknowledged. As part of ACF’s commitment to environmental Association of Charitable Foundations is sustainability this document was printed by a a company limited by guarantee registered printer with an environment managed system in England and Wales. KEY FACTS 01 - 02 ALL PRIVATE GIVING3, £BILLION TOP 10 FAMILY FOUNDATIONS (BY GIVING) Wealthy families and individuals donate in £0.75 different ways, but foundations are a popular BILLION vehicle for high net worth giving.4 Foundations £1.0 overall contribute 14% of an estimated total BILLION WELLCOME TRUST (SEP-12) private giving of £17.5bn in the UK. Family £511.1 M foundations alone contribute 8% to the total. £1.0 BILLION GATSBY CHARITABLE FOUNDATION (APR-12) £144.5 M 64.8% INDIVIDUAL £1.4 AND MAJOR GIVING BILLION LEVERHULME TRUST (DEC-12) £72.0 M 11.5% LEGACIES £11.3 8.0% FAMILY FOUNDATIONS £2.0 BILLION 5.7% OTHER TOP 300 FOUNDATIONS BILLION WOLFSON FOUNDATION (APR-12) £49.7 M 5.7% GIFT TAX PAID TO CHARITIES 4.3% CORPORATES GARFIELD WESTON FOUNDATION (APR-13) £49.4 M CHILDREN’S INVESTMENT FUND FOUNDATION (AUG-12) £46.9 M TOP 100 FAMILY FOUNDATION THE MONUMENT TRUST (APR-12) £45.4 M SHARE OF GRANT-MAKING Family foundations make almost three-fifths of all foundation grants by value – 59%. ESMÉE FAIRBAIRN FOUNDATION (DEC-12) £32.4 M FAMILY FOUNDATION GIVING OTHER TOP 300 FOUNDATIONS GOSLING FOUNDATION LIMITED (MAR-12) £27.7 M 59% 41% DR MORTIMER AND THERESA SACKLER FOUNDATION (DEC-12) £25.9 M A CHANGING LANDSCAPE 03 - 04 A BAROMETER OF THE CHANGING FAMILY FOUNDATION LANDSCAPE NEW ENTRANTS This year’s tables have been fully revised, with ‘signature’ or legacy gifts which consume A swathe of new entrants to the table is evidence foundations. Most of these have founders and increased inclusion of foundations funded by a large part of the foundation’s funds. of successful entrepreneurs from all business family members on their governing board and family businesses. sectors building up and creating new family directly involved in philanthropic decisions. Movements up or down the tables, entries Positions in the table change dramatically and exits, provide a barometer to foundations’ as foundations continue either to spend out changing spending policies, and to key life capital, receive further founder donations, events of the new donors whose personal giving Stone Family Foundation, established by or make major grants, sometimes one-off, choices are shaping tomorrow’s landscape. John Stone, founder of Lombard International Assurance, joined the table at number 44, WATER AND giving £4.37m, and focussing on water, 44 sanitation and hygiene. SANITATION David and Claudia Harding Foundation, founded in 2007 by David Harding of Winton Monument Trust, Capital Management, entered the table at HIGHER J Paul Getty Jnr General number 45, after a £4m donation to University Charitable Trust, and 45 of Cambridge. Atlantic Charitable Trust EDUCATION continue to move slowly down 10 the table as they spend out. Liz and Terry Bramall Charitable Trust, Dr Mortimer and Theresa founded in 2007 by Terry Bramall the former 09 Sackler Foundation owner of KeepMoat construction company, YOUNG The Gosling Foundation, moved up the table, entered at number 46, with a major gift to founded by Rear Admiral Sir increasing its spending as 46 the Princes Trust. Donald Gosling KCVO, moved a result of Dr Sackler’s legacy 15 PEOPLE from 60 to number 9 after a and other family donations. De Haan Charitable Trust, £25m grant to the HMS Victory Recent major gifts include established by Roger De Moondance Foundation, set up by Henry preservation company. those to the Francis Crick Haan of Saga, with a major Engelhardt, co-founder of Admiral Insurance, Institute, the Victoria and focus on the regeneration and his wife Diane Briere de L’Isle, came into HEALTH AND Albert Museum, and the of Folkestone, moved up the table at 52 with giving of £3.7m. New Serpentine Sackler more than 30 places to 15 52 gallery, opened in 2013. in the table. WELFARE Lord Glendonbrook, former owner of bmi, set up the Michael Bishop Foundation, which has come into the top Table at HIGHER number 73, with a £1m gift to Loughborourgh 73 University Development Trust. EDUCATION Peter Moores Foundation fell from 9 to 85 after previous Kusuma Trust UK, founded in 2007 by major gifts for Compton Verney. Anurag Dikshit, who made his fortune in online gaming, and his wife Dr Soma Pujari, SCHOOL entered the table at 80; it is building a major 17 49 80 school education programme in India. EDUCATION Polonsky Foundation Lempriere Pringle Trust moved from 97 to 17, after rose 11 places after major gifts Sir Joseph Hotung Charitable Settlement a major gift to the Van Leer 6 for the Auckland Castle Trust entered the top 100 for the first time in Children’s Investment Fund Jerusalem Institute. and local regeneration in 96th place with spending of £2.02m which Foundation moved up two PUBLIC the Bishop Auckland area. 85 included significant grants to St George’s places after increasing its Hospital Medical School for molecular spending by £19.5m. 96 immunology and vaccinology. HEALTH Lempriere Gannochy Trust Pringle Trust 05 - 06 supports people supports Bishop in Scotland, WAYS OF WORKING Auckland particularly in Perth through cultural and Kinross regeneration GRANT-MAKING, OPERATING PROGRAMMES AND FOCUS FAMILY FOUNDATIONS’ LOCAL, NATIONAL Liz and Terry While grant-making to others is the principal For some family business foundations, Bramall Charitable activity for most family foundations, some devote an operating focus can express the relationship CHARITABLE SPENDING AND GLOBAL GIVING Trust and Sir James Philanthropy can have an important role in Atlantic all or part of their charitable expenditure directly to between business and philanthropic aims. £1.6 BILLION Charitable Trust Reckitt Charity developing or operating programmes which further developing local communities. Many of today’s focus on local needs The James Dyson Foundation aims at works in N Ireland, their particular interests. Such foundations include family foundations split their giving between in Yorkshire strengthening engineering capacity through spending out The Prince’s Charities; Rank Foundation which national UK causes and specific local and/ education, research, innovation and training by 2020 runs CTVC, its media-arm; Pears Foundation; or global areas with which they have personal, materials including the provision of engineering and the De Haan Charitable Trust which is actively business or other allegiances. Here are some ‘Ideas boxes’ for use in schools and colleges. engaged in property refurbishment in the historic examples of what these foundations do. quarter of Folkestone. The Wates Family Enterprise Trust, whose trustees are all family members, Other family foundations have a strong Samworth Puri Foundation was specifically set up by the Wates family, operating focus which shapes their giving.
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