Sir Thomas White's Charity

Charity Number: 218626

Annual Expenditure: £2.9M
Geographic Focus: Northamptonshire, Warwickshire, Coventry City, City Of London, Leicester City, Nottingham City

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Quick Stats

  • Annual Giving: £2,860,000 (distributed to beneficiary charities)
  • Success Rate: Not applicable (closed distribution)
  • Decision Time: Annual distribution meeting
  • Grant Range: Predetermined formula-based distribution
  • Geographic Focus: Coventry, Leicester, Northampton, Nottingham, Warwick, and Merchant Taylors' Company of London
  • Endowment Value: Approximately £75 million

Contact Details

Address:

Godfrey Payton & Co

Old Bablake

Hill Street

Coventry CV1 4AN

Phone: 024 7622 6684

Email: coventry@godfrey-payton.co.uk

Website: None

Note: This charity does not accept applications from outside organizations.

Overview

Sir Thomas White's Charity is one of England's oldest charitable endowments, founded in 1542 by Sir Thomas White (1492-1567), a wealthy cloth merchant who served as Lord Mayor of London in 1553. The charity has grown from an original endowment of £1,100 to approximately £75 million in assets today. With an annual income exceeding £3.2 million generated from investment returns, the charity distributes over £2.86 million annually to six predetermined beneficiary organizations based on a fixed formula established centuries ago.

Unlike traditional grant-making charities, Sir Thomas White's Charity operates as an endowment fund that exists solely to provide income to specific beneficiary charities established in five historic English cities plus the Merchant Taylors' Company of London. These beneficiary charities, in turn, provide interest-free loans and grants to young people for education and business purposes. The charity holds an annual distribution meeting where funds are allocated according to the historic formula. All eight trustees serve without remuneration.

Funding Priorities

Distribution Model

This charity does not make grants to external organizations. It distributes income exclusively to six predetermined beneficiaries according to a fixed formula:

Distribution Formula:

  • Coventry (37/70ths) - receives approximately £1.43 million annually
  • Leicester (8/70ths) - receives approximately £326,000 annually
  • Northampton (8/70ths) - receives approximately £326,000 annually
  • Nottingham (8/70ths) - receives approximately £326,000 annually
  • Warwick (8/70ths) - receives approximately £326,000 annually
  • Merchant Taylors' Company (1/70th) - receives approximately £41,000 annually

The Six Beneficiary Charities

Each beneficiary operates independently and uses Sir Thomas White funds to support young people:

1. Sir Thomas White's Coventry Charity

  • Supports young people in Coventry
  • Provides interest-free loans for education and business
  • Contact: coventry@godfrey-payton.co.uk

2. The Sir Thomas White Loan Charity (Leicester - Charity No. 218061)

  • Business loans: up to £20,000 interest-free for 9 years
  • Education loans: up to £10,000 interest-free for 9 years
  • For residents of Leicestershire and Rutland aged 18-45
  • Website: www.stwcharity.co.uk
  • Public applications accepted

3. Sir Thomas White's Northampton Charity (Charity No. 201486)

  • Education grants up to £750 (not loans)
  • For young people aged 16-25 in Northampton
  • Contact: HCR Law, Lancaster House, Northampton
  • Website: www.stwcharitynorthampton.org.uk
  • Public applications accepted

4. Charity of Sir Thomas White, Warwick (Charity No. 1073331)

  • Student loans: up to £2,000 per year
  • Business loans: up to £10,000 interest-free
  • For residents of Warwick (CV34 postcode) aged 18-35
  • Website: www.sirthomaswhite.org.uk
  • Phone: 01926 350555
  • Public applications accepted

5. Nottingham Municipal Charities (includes Sir Thomas White's Loan Money Charity)

  • Business loans: £500 to £10,000 interest-free for 5 years
  • For Nottingham residents aged 18-40
  • Email: chair@nottinghammunicipalcharities.org.uk
  • Website: www.nottinghammunicipalcharities.org.uk
  • Public applications accepted

6. Merchant Taylors' Company of London

  • Receives funds for charitable purposes as determined by the Company

What They Don't Fund

This charity:

  • Does not accept applications from charities, organizations, or individuals
  • Does not fund projects, services, or programs
  • Does not make grants outside the six predetermined beneficiaries
  • Cannot change its distribution formula or add new beneficiaries
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Governance and Leadership

Trustee Structure

The charity is governed by 8 trustees, none of whom receive remuneration, payments, or benefits. Specific trustee names are not publicly listed, but the charity is administered through Godfrey Payton & Co, a Coventry-based legal firm.

The trustees' primary responsibilities include:

  • Managing the £75 million investment portfolio
  • Holding the annual distribution meeting
  • Ensuring compliance with the historic trust deed from 1542
  • Appointing one Governor to Coventry School Foundation

Historical Foundation

Sir Thomas White (7 June 1492 – 12 February 1567) was:

  • A successful cloth merchant and member of the Merchant Taylors' Company
  • Lord Mayor of London in 1553, knighted the same year by Queen Mary I
  • Founder of St John's College, Oxford (1555)
  • Co-founder of Merchant Taylors' School (1561)

His original bequest in 1542 purchased land yielding approximately £70 per annum. The trust deed, drawn up “at the mediation of certain friends of Sir Thomas White” between municipal corporations and the Merchant Taylors' Company, established the distribution formula that continues today. The first distribution occurred in 1567 (£70), and by 2024 the annual distribution exceeded £2.86 million.

Application Process and Timeline

How to Apply

This charity does not have a public application process.

Sir Thomas White's Charity (registration number 218626) is a closed endowment fund that distributes income exclusively to six predetermined beneficiary charities according to a fixed formula established in the 16th century. Organizations and individuals cannot apply for funding from this parent charity.

However, individuals seeking education or business support can apply directly to the beneficiary charities listed above, each of which operates its own application process:

  • Leicester: www.stwcharity.co.uk (loans for business/education)
  • Northampton: www.stwcharitynorthampton.org.uk (education grants)
  • Warwick: www.sirthomaswhite.org.uk (student/business loans)
  • Nottingham: www.nottinghammunicipalcharities.org.uk (business loans)
  • Coventry: Contact coventry@godfrey-payton.co.uk

Decision Timeline

The parent charity holds an annual distribution meeting/lunch (typically in January) where funds are allocated to the six beneficiary charities according to the established formula. This is an administrative process, not a competitive grant round.

Individual beneficiary charities have their own timelines:

  • Leicester: Ongoing rolling applications with trustee meetings 3 times per year
  • Nottingham: Trustee meetings 3 times per year
  • Warwick: Applications reviewed on an ongoing basis
  • Northampton: Applications reviewed on a rolling basis

Key Takeaways for Grant Writers

  • Not a funding source for organizations: This charity cannot fund projects, charities, or organizations beyond its six predetermined beneficiaries
  • Historic trust limitations: The 1542 trust deed prevents the charity from changing its beneficiaries or distribution formula
  • Individual support available: Young people aged 18-45 in the five cities can access substantial interest-free loans (up to £20,000) and grants (up to £750) through the beneficiary charities
  • Formula-based distribution: Coventry receives the largest share (37/70ths ≈ £1.43m annually), with the other four cities each receiving 8/70ths (≈ £326k annually)
  • Investment-funded model: The charity operates entirely from investment returns on its £75 million endowment, not from fundraising
  • Long-term stability: Nearly 500 years of continuous operation demonstrates the enduring nature of this charitable structure
  • Local referral opportunity: Grant writers supporting young people in eligible areas should refer them to the appropriate beneficiary charity for education or business start-up support

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References