News from Cass Business School

Time for UK wealthy to give more

Report illustrates family foundations leading the way in tackling poverty

Tuesday, 9 November, 2010

The UK’s top 100 family foundations have defied the economic downturn by giving £1.4 billion to charitable causes in 2008/2009, according to the third annual Family Foundation Giving Trends 2010 report produced by the ESRC Centre for Charitable Giving and Philanthropy at Cass Business School, City University London with Pears Foundation.
The report challenges the UK’s wealthiest individuals to follow the example of family foundation by providing a long term commitment to tackling some the challenges faced by society in the current climate of austerity. It paints a vivid picture of the commitment, drive and diversity of approach to giving amongst family foundations in the UK, highlighting many thoughtful and imaginative initiatives.
The key findings of the report are:

Trevor Pears, Executive Chair of Pears Foundation, said: Family foundations have proved remarkably resilient at a time when state resources are stretched and other forms of giving are really under pressure. The top 100 Foundations set an example of what passion, commitment and strategic thought can achieve but it’s not enough. We need hundreds more foundations and many more initiatives which show philanthropy working at its best. We are calling on the wealthiest individuals and families in the UK to be inspired, step up and usher in a new age of long term, committed giving.
Cathy Pharoah, co-author of the report and Professor of Charity Funding and Co-Director of the ESRC Research Centre for Charitable Giving and Philanthropy, Cass Business School, said: You hear a lot of talk about what the Big Society is or isn’t, but family foundations have been quietly taking an active role in our communities for generations. We’ve seen a number of new foundations coming into the top 100 recently, and I’d like to see the trend towards creating family foundations grow in terms of scale, scope and ambition to meet the escalating needs of society.
Family Foundation Giving Trends 2010 is the third in a series of annual reports tracking trends in the giving of the largest 100 UK family foundations (by giving). It includes tables of the 100 largest family foundations in the UK by annual charitable spending, benchmarked against giving trends in the UK and US.
The report was written by Cathy Pharoah, Professor of Charity Funding and Co-Director of the ESRC Research Centre for Charitable Giving and Philanthropy, Cass Business School, in collaboration with Charles Keidan, Director of Pears Foundation.
The report was recently covered in the Financial Times

Permanent link to this story: https://www.cass.city.ac.uk/news/2010/november/time-for-uk-wealthy-to-give-more
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