Foundation Giving Trends 2018, which is has just been published by the Association of Charitable Foundations, says there was a 10.9 per cent increase in the amount of money awarded by Charitable Foundations, representing a record high of £3.3 billion worth of grants, in the 2016/17 financial year compared with the previous 12 months.
The report, which focuses on the largest 300 UK foundations by grant-making, also found that 63 per cent of foundations increased their grant-making in real terms in 2016/17.
Family Foundations awarded £2bn in the year covered by the report, but corporate foundations handed out only £228m.
An increasing number of foundations are also turning to social investment, according to the report, with the foundations in the study spending £120m on the concept, an 18 per cent increase on the previous year.
The top 300 foundations, which represent 90 per cent of all foundation giving in the UK, had £65 billion in assets, the report says.
However, asset growth fell from 5 per cent to 2.4 per cent once the Wellcome Trust – by far the largest foundation with assets totalling £21.9 billionn – was taken out of the study.
Brexit had focused many foundations’ policies on place-based giving schemes, especially in areas that had been “left behind”.
The report, which is free to download from the Association of Charitable Foundations’ website, calls for agile, responsive and resourced organisations that are able and willing to collaborate for the greater good.