Family members remain chief influencers in a majority of UK family foundations, according to research published today by the Association of Charitable Foundations.
Almost three-quarters of top UK family foundations have either founder donors, other family members or both on their boards, said the report, led by Professor Cathy Pharoah of the Centre for Giving and Philanthropy at Cass Business School, and supported by the Pears Foundation.
The research analyses the giving of the top 150 family foundations, which collectively contribute 56 per cent of all foundation giving by value. In 2013/14, boards with family trustees oversaw £678 million out of £1.38 billion in total family foundation funds under management. Almost half the family foundation assets of £41.5 billion were under management by a board including family members or living settlors.
Grant making increased by 4.2 per cent in the same period, with assets rising 14 per cent. Gifts to family foundations including business donations and legacies rose by 20 per cent, outstripping the rate in foundations more generally.