The Centre For Financial Capability

Quick Stats

• Annual Giving: £162,343 (2024)
• Success Rate: Not publicly disclosed
• Decision Time: Approximately 2 months (applications closed March 2024, decisions by April 2024)
• Grant Range: £20,000 - £80,000 (Innovation Fund)
• Geographic Focus: United Kingdom (England, Northern Ireland, Scotland)

Contact Details

• Website: https://www.tcfc.org.uk/
• Email: info@tcfc.org.uk
• Phone: 020 8650 6588

Overview

The Centre for Financial Capability (charity number 1196550) was founded in November 2021 by the backers of KickStart Money, a groundbreaking coalition of 20 financial services firms who invested over £1 million to reach over 20,000 primary-aged children with expert-led financial education. The charity's mission is to ensure every child and young person in the UK develops the skills and behaviours necessary to navigate critical financial decisions in their life, starting from primary school. With total income of £162,343 in 2024, the Centre invests in financial education delivery while championing innovation, building evidence of what works, and campaigning for greater investment in this critical area. The charity operates through grant-making, advocacy, research sponsorship, and strategic partnerships with organizations like MyBnk (now Money Ready), Young Enterprise, and RedStart.

Funding Priorities

Grant Programs

Financial Literacy Innovation Fund: £20,000 - £80,000

• Seeks innovations with potential to help more children and young people in the UK learn about money
• Focuses on improving financial capability of children aged 5-11 (primary school age)
• Open to non-profit organisations, social enterprises, and for-profit companies
• Applications submitted via email to info@tcfc.org.uk
• Past rounds had fixed deadlines (March 2024 deadline with April 2024 decisions); check with TCFC for future rounds

Priority Areas

The Centre prioritizes projects that:

• Enhance and/or expand financial education delivery for primary-aged children in the UK
• Demonstrate commitment to developing children and young people's financial literacy
• Can be evaluated and share learning with others
• Include real-world pilot or programme delivery (not purely theoretical research)
• Promote financial education starting at primary school, reflecting the evidence that foundational money habits form around age seven

What They Don't Fund

• Research or theoretical development activity not linked to a specific real-world pilot or programme delivery
• Innovations that do not primarily seek to benefit children in the United Kingdom
• Organisations that exist to promote the success of a political candidate or party
• Organisations that exclusively support members of a single religious faith
• Organisations that cannot demonstrate sound organisational governance and safeguarding practices

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Governance and Leadership

Trustees

The Centre is governed by a five-member board of trustees, all serving without remuneration:

Jane Goodland (Chair) - Appointed November 2020. Jane is Group Head of Sustainability at LSEG (London Stock Exchange Group) and also serves as a non-executive director of The Investment and Savings Alliance (TISA).

Carol Knight - Appointed November 2020. Carol is CEO of TISA with a personal passion for financial education for children and young people.

Louise Hill - Appointed May 2022. Louise is Chair of MyBnk's Financial Freedom Campaign, a mentor for Oxford University's accelerator programme, and a speaker at leading Exec MBA programmes across the UK.

Tammie Tang - Appointed September 2022. Tammie is a Senior Portfolio Manager at Columbia Threadneedle Investments, where she is Director of Fixed Income, Investment Grade Credit.

Dr. Marcel Lukas - Appointed November 2023. Marcel is a Senior Lecturer in Banking and Finance at the University of St Andrews with main research interest in FinTech and how it can be used to improve financial well-being.

Leadership

Stewart Perry serves as Director of The Centre for Financial Capability, managing day-to-day activities and working with trustees to advance financial education in the UK.

Key Quote from Leadership:

Stewart Perry has emphasized that "foundational money habits – good and bad – form around the age of seven. That's why it is critical we help children and young people learn about and experience money as early as possible.“ He notes that ”individuals with higher financial literacy are better equipped to handle income shocks, save for the future and avoid unsustainable debt,“ and that ”nearly half of adults in financial distress attribute their predicament to poor money management skills."

Application Process and Timeline

How to Apply

For Innovation Fund Grants:

• Your innovation and how it meets the funding criteria
• What could be achieved with TCFC's support
• Total cost of the project
• Any other sources of income for delivery
• How you will work with TCFC to evaluate the project
• How you will share learning with others

1. Email your application to info@tcfc.org.uk

1. The TCFC team may request a follow-up call to learn more about your application and provide recommended refinements before the next stage

1. Following satisfactory due diligence and alignment checks, TCFC convenes an assessment panel to consider applications against their innovation criteria

1. The assessment stage may include further questions from the TCFC team and a presentation to the assessment panel

Note: Past funding rounds had fixed deadlines. Contact TCFC directly to inquire about future Innovation Fund opportunities.

Decision Timeline

Based on the 2024 Innovation Fund round:

• Applications due: 8 weeks before decision notification
• Decision notification: Approximately 8 weeks after submission deadline
• Overall timeline: Approximately 2 months from application deadline to notification

Success Rates

Success rates are not publicly disclosed. The Centre looks for partners willing to collaborate on evaluation and share learning, suggesting they prioritize quality and impact over quantity of grants awarded.

Reapplication Policy

No specific reapplication policy is publicly documented. Applicants are encouraged to contact TCFC directly to discuss future opportunities if initially unsuccessful.

Application Success Factors

Based on the Centre's stated priorities and approach, successful applications demonstrate:

1. Real-world impact: Projects must include actual pilot or programme delivery, not just theoretical research. The Centre values innovations that can be tested and evaluated with real children and young people.

1. Primary school focus: Given that the Centre emphasizes that “foundational money habits form around the age of seven,” projects targeting children aged 5-11 are strongly aligned with their mission.

1. Evaluation partnership: TCFC explicitly seeks partners willing to work with them to evaluate projects. Applications should demonstrate openness to measurement, assessment, and evidence-building.

1. Knowledge sharing: The Centre values organizations committed to sharing learning with others in the sector, contributing to the broader evidence base of what works in financial education.

1. Sound governance and safeguarding: As a charity focused on children and young people, TCFC requires demonstrated commitment to safeguarding practices and organizational governance.

1. UK benefit: Innovations must primarily seek to benefit children in the United Kingdom, reflecting the Centre's geographic scope.

1. Alignment with advocacy goals: The Centre campaigns for financial literacy to be integrated as an assessed, statutory subject. Projects that support this broader mission may be particularly attractive.

Key Takeaways for Grant Writers

• Start young: The Centre's core belief is that financial education should begin at primary school age, supported by research showing money habits form around age seven
• Show real-world delivery: Theoretical research alone won't be funded; you must demonstrate actual programme implementation with children
• Embrace evaluation: Be prepared to work collaboratively with TCFC on measuring impact and building evidence of what works
• Share your learning: Commitment to knowledge sharing with the broader sector is essential, not optional
• Think beyond grants: The Centre is an advocacy organization as well as a funder; alignment with their policy goals strengthens applications
• Demonstrate safeguarding: As a children's charity, robust safeguarding practices and governance are non-negotiable
• Check timing: The Centre runs fixed funding rounds rather than rolling applications; contact them early to learn about upcoming opportunities

References

• Charity Commission Register - The Centre for Financial Capability
• The Centre for Financial Capability - Innovation Fund
• FSCS - Fortnightly Financial Five Minutes #33 Stewart Perry (Published February 7, 2024)
• TISA - The Centre for Financial Capability
• Parliamentary Written Evidence - The Centre for Financial Capability
• Young Enterprise - Centre for Financial Capability June 2024