News from Cass Business School

UK wealthy must play their part in the Big Society

Report illustrates family foundations leading the way in tackling Big Society issues

Wednesday, 17 November, 2010

Family foundations have continued to maintain their level of giving, despite the recent economic uncertainty, according to the third annual Family Foundation Giving Trends Report report co-authored by Professor Cathy Pharoah, Co-Director of the ESRC Centre for Charitable Giving and Philanthropy at Cass Business School with the Pears Foundation.
The report also challenges the UK's wealthiest individuals to follow the example of family foundations in showing a long term commitment to tackling some of 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 continuous stream of giving reinforces the commitment made to foundations; however the creation of more foundations is needed in order for Big Society to work, according to the report. Professor Pharoah said: "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."
The Family Foundation Giving Trends 2010 report was launched last night at Cass Business School in London. The audience, which included representatives of the UK's largest family foundations heard speeches from Lord Nat Wei, Government Adviser on Big Society; Charles Keidan, Director, Pears Foundation; Dawn Austwick OBE, Chief Executive, Esmée Fairbairn Foundation; and Martyn Lewis CBE, Chairman of YouthNet, NCVO, Families of Fallen.
Watch Professor Pharoah discussing the Family Foundation Giving Trends 2010 report in this week's Cass Talks. The Cass Talks interviews are an opportunity to hear Cass faculty and prominent alumni give their perspective on current business and finance news stories, global issues affecting the business world and new research coming out of the School.

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