Friends Provident Foundation

Quick Stats

• Founded: 2004
• Endowment: £33.5 million
• Annual Giving: Estimated £1.5-2 million
• Success Rate: 8% (first stage); 60% (second stage)
• Decision Time: 6 months (main grants); 6 weeks (small grants)
• Grant Range: £10,000 - £200,000
• Typical Grant: £50,000 - £75,000
• Geographic Focus: UK-wide

Contact Details

Website: https://friendsprovidentfoundation.org

Email: enquiries@friendsprovidentfoundation.org.uk

Phone: 01904 629675

Address: York, UK

Pre-Application Support: The Foundation encourages initial conversations before applying and always offers feedback

Overview

Friends Provident Foundation was established in 2004 as an independent charity endowed by Friends Provident plc from unclaimed shares following demutualisation. With an endowment of £33.5 million, the Foundation supports initiatives working towards a fair, resilient, and sustainable economic system across the UK. Rooted in Quaker values of equality, justice, and stewardship, the Foundation uses grants, impact investments, and convening power to address systemic economic inequalities. In 2024, celebrating its 20th anniversary, the Foundation announced three new funding strands for 2024-2027, focusing on shifting cultural perceptions, transforming financial systems, and new economy infrastructure. Under Director Danielle Walker Palmour's leadership since 2004, the Foundation has gained an international reputation for innovative funding and investment practice, particularly for moving to unrestricted funding by default and pioneering collaborative application processes.

Funding Priorities

Grant Programs

Main Grants Programme: Building a 4D Economy

• Amount: £50,000 - £200,000 (most grants £50,000-£75,000)
• Duration: Up to 5 years (average 1-2 years)
• Type: Project or core funding (unrestricted by default)
• Application: Rolling basis with quarterly cut-off dates; co-created application process following initial conversation
• The Foundation supports work creating a Diversified, Decarbonised, Democratised, and Decentralised economy

Small Grants Programme

• Amount: Up to £10,000
• Application: Rolling applications accepted any time
• Decision Time: 6 weeks
• Purpose: Supporting under-resourced or newer entrants to economic systems change work

New Funding Strands (2024-2027)

• Collaborative 3-year programme for up to 6 organisations
• Focus: “How can we begin to shift perceptions and beliefs about the economy, about what it is and what it could be?”

• Government policy and regulation
• Banking system reform (role of Bank of England, Treasury, purpose-driven banking)
• Investment system change (redefining incentives, ownership rights and responsibilities)

• Supporting infrastructure for a 4D economy

Priority Areas

The Foundation seeks organisations whose core work focuses on economic systems change, not those primarily working in other sectors (food, energy, skills) that intersect with economic themes.

Key Characteristics of Funded Work:

• Works systemically at root-cause level, addressing deeper structural drivers of inequality and unsustainability
• Demonstrates contextual awareness and collaborative, intersectional approaches
• Sees their role within a broader ecosystem, building bridges across sectors, disciplines, and communities
• Takes a long-term approach beyond short-term thinking
• Explicitly focused on UK economic systems (organisations need not be UK-based, but work must focus on UK economy)
• Addresses impacts on marginalised groups or planetary health through economic systems lens

What They Don't Fund

• Work primarily focused on non-economic policy areas (unless explicitly about economic systems)
• Symptom-focused work rather than root-cause systemic change
• Work without explicit UK economic systems focus
• Activities outside their specific programme themes

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Governance and Leadership

Chair and Trustees

Stephen Muers - Chair of Trustees

Trustees:

• Abraham Baldry - Investment Committee Member
• Ann Don Bosco - Resource Committee Member
• Caroline Taylor - Resources Committee Member (CEO at Essex Community Foundation)
• Kathleen Kelly - Resource Committee Chair
• Natalie Nicholles
• Paul Blyth - Investment Committee Member (pioneer in ESG/Impact Investment)
• Priya Gupta
• Simin Wadiwala - Associate Trustee
• Stephanie Maier - Investment Committee Chair

Staff Team

Danielle Walker Palmour - Director (since 2004; previously Director of Policy and Practice at Joseph Rowntree Foundation for 6 years)

Key Staff:

• Abigail Gibson - Head of Funding Strategy
• James Anthony - Social Investment Portfolio Manager
• Charlie Crossley - Investment Engagement Manager
• Kate Kendall - Finance and Operations Manager
• Kate Rudd - Funding Programme Officer
• Caroline Watson & Kat Chatterton - Office Managers

Leadership Perspectives

Danielle Walker Palmour on investment approach: "It's critical to stay tightly focused on the mission, rather than spreading ourselves thinly, we ideally look for impact investments that leverage our existing expertise and contribute in some way to financial inclusion or our other charitable objectives."

On diversity in philanthropy: “A walk into almost any group of philanthropic funders in London, Edinburgh, Belfast, Cardiff or Birmingham will reveal that there are not many Black people active in traditional funding in the UK. Believe me, as the CEO of a grant-making trust and an active funder for over 27 years, I have walked into many such rooms.”

Application Process and Timeline

How to Apply

New Co-Created Application Process

The Foundation has fundamentally changed its approach in response to low first-stage success rates (only 8% of applicants were progressing to stage two).

Process:

1. Initial Expression of Interest: Submit brief initial application or schedule an initial conversation
2. Foundation Assessment: If the Foundation thinks you're a potential fit, they'll invite you to a conversation
3. Co-Creation: Foundation staff work with you to co-create the application, which they write up
4. Decision: Final review and decision

Main Grants: Applications accepted on rolling basis with quarterly cut-off dates

Small Grants (up to £10,000): Apply any time via separate, streamlined application form

Before Applying:

• Read guidance documents thoroughly
• Try the eligibility quiz on their website
• Contact the Foundation for pre-application discussions (actively encouraged)
• Ensure your core work focuses on economic systems change

Decision Timeline

Main Grants: Approximately 6 months from initial contact to final funding decision

Small Grants: 6 weeks from submission to decision

Notification: The Foundation provides feedback to all applicants

Success Rates

First Stage: 8% of applicants progress to second stage (this low rate prompted the new co-created application process)

Second Stage: 60% of stage-two applicants receive funding

These figures demonstrate that the Foundation receives far more applications than it can support, making strong strategic alignment essential.

Reapplication Policy

Highly flexible: There is no time limit on reapplication. Unsuccessful applicants can apply again whenever they are ready.

Applicants should note quarterly cut-off dates for stage-one applications when planning resubmission.

Application Success Factors

Direct Advice from the Foundation

Critical Alignment Factors:

• Explicit primary focus on economic systems change (not tangential)
• Compelling long-term vision for a fairer and sustainable economy
• Systemic, root-cause approach rather than symptom-focused work
• Clear UK economic systems focus
• Collaborative, contextual awareness of your role in broader ecosystem

Application Preparation:

• Read all guidance documents before applying
• Take the eligibility quiz
• Engage in pre-application conversation (actively encouraged)
• Be prepared to demonstrate how you work systemically at root-cause level

Recent Funded Projects (Examples)

Riding Sunbeams - B Corp enabling trackside, community-owned renewable energy to power railways with Just Transition embedded in its Articles (received both grants and investment)

Public Participation in Economic Policy - Innovative project giving UK citizens opportunity to create their own fiscal policy recommendations to address cost-of-living crisis

The Equality Trust - Collaborative systems change work

Just Transition Research - Three pioneering projects advancing Just Transition to zero-carbon economy

Grantham Research Institute (LSE) - Research programme on financing energy market transition

Key Terminology and Language

The Foundation uses specific language reflecting their priorities:

• “4D Economy” (Diversified, Decarbonised, Democratised, Decentralised)
• “Root-cause” and “systemic” change
• “Economic systems change” (not economic development or poverty alleviation)
• “Just Transition”
• “Intersectional approach”
• “Fair and sustainable economic system”

Standing Out

1. Demonstrate systemic thinking: Show how your work addresses root causes, not symptoms
2. Focus sharply: Make economic systems change your explicit core focus, not a co-benefit
3. Show collaborative awareness: Position your work within broader ecosystem
4. Engage early: Take advantage of pre-application conversations
5. Be specific about UK focus: Clearly articulate impact on UK economic systems
6. Align with 4Ds: Connect your work to Diversified, Decarbonised, Democratised, and/or Decentralised economy

Foundation's Approach to Grantees

• Full cost recovery funder: Recognizes need for organisational capacity and healthy reserves
• Unrestricted funding by default: Unless clear reason for boundaries
• Relationship-focused: Offers core funding to organisations with pre-existing relationships
• Supportive: Always provides feedback; new process involves co-creating applications

Key Takeaways for Grant Writers

1. Economic systems change must be your core focus - The Foundation explicitly states they fund organisations whose primary work is economic systems change, not those for whom it's tangential to other policy areas. This is non-negotiable.

1. Root causes over symptoms - Demonstrate how your work addresses systemic, structural drivers of inequality rather than ameliorating symptoms. Think transformation, not incremental change.

1. Engage early and often - The Foundation actively encourages pre-application conversations and now co-creates applications with potential grantees. Use this collaborative approach to ensure strong fit before investing significant time.

1. Understand the low odds - With only 8% reaching stage two, exceptional alignment is essential. However, 60% of stage-two applicants succeed, so if you make it through initial screening, chances improve significantly.

1. Master the 4D framework - Articulate how your work contributes to a Diversified, Decarbonised, Democratised, and/or Decentralised economy. This is their organizing principle.

1. Be UK-specific - Your organisation doesn't need to be UK-based, but your work must clearly focus on transforming UK economic systems. Generic or international work won't align.

1. Build relationships for core funding - While project funding is available, unrestricted core funding goes to organisations with pre-existing relationships. Consider starting with a smaller grant or collaborative work to build that relationship.

References

1. Friends Provident Foundation official website - Grants page: https://friendsprovidentfoundation.org/grants/ (Accessed: October 2025)

1. Friends Provident Foundation - How to Apply: https://friendsprovidentfoundation.org/grants/how-to-apply/ (Accessed: October 2025)

1. Friends Provident Foundation - FAQ page: https://friendsprovidentfoundation.org/faq/ (Accessed: October 2025)

1. Friends Provident Foundation - Our People: https://friendsprovidentfoundation.org/about-us/our-people/ (Accessed: October 2025)

1. Friends Provident Foundation - Our History: https://friendsprovidentfoundation.org/about-us/our-history/ (Accessed: October 2025)

1. Friends Provident Foundation - "We're Changing Our Approach to Grantmaking": https://friendsprovidentfoundation.org/were-changing-our-approach-to-grantmaking/ (Accessed: October 2025)

1. Friends Provident Foundation - Projects page: https://friendsprovidentfoundation.org/projects/ (Accessed: October 2025)

1. Civil Society - “Economic inequality foundation moves to unrestricted funding by default”: https://www.civilsociety.co.uk/news/economic-inequality-foundation-moves-to-unrestricted-funding-by-default.html (Accessed: October 2025)

1. Charity Commission Register - Friends Provident Charitable Foundation (1087053): https://register-of-charities.charitycommission.gov.uk/charity-search/-/charity-details/3982068 (Accessed: October 2025)

1. 360Giving GrantNav - Friends Provident Foundation: https://grantnav.threesixtygiving.org/org/GB-CHC-1087053 (Accessed: October 2025)

1. Impact Investing Institute - Friends Provident Foundation case study: https://www.impactinvest.org.uk/case-study/friends-provident-foundation/ (Accessed: October 2025)

1. Alliance Magazine - “Two new trustees join Friends Provident Foundation Board”: https://www.alliancemagazine.org/blog/two-new-trustees-join-friends-provident-foundation-board/ (Accessed: October 2025)

1. Friends Provident Foundation - Foundation Practice Rating 2023/2024 Report: https://friendsprovidentfoundation.org/foundation-practice-rating-2023-2024-report/ (Accessed: October 2025)

1. Civil Society - “Aligning investments with mission” (quotes from Danielle Walker Palmour): https://www.civilsociety.co.uk/governance/aligning-investments-with-mission.html (Accessed: October 2025)