The Worshipful Company Of Actuaries Charity

Charity Number: 1199721

Annual Expenditure: £0.2M

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Quick Stats

  • Annual Giving: £171,305 (2024)
  • Success Rate: Not publicly disclosed
  • Decision Time: Not publicly disclosed
  • Grant Range: £1,000 - £5,000 (specific programs)
  • Geographic Focus: UK-wide (England, Wales, Scotland, Northern Ireland)

Contact Details

Email: charity@actuariescompany.co.uk

Phone: 07767236570

Website: www.actuariescompany.co.uk/charity/

Bursary Applications: Submit by 30th June annually

Phiatus Award Applications: rosschiswick@gmail.com (typically by 31st October)

Overview

The Worshipful Company of Actuaries Charity was established as a Charitable Incorporated Organisation in July 2022, taking over the funds previously held by the Company of Actuaries Charitable Trust Fund (founded 1979). With an annual expenditure of £171,305 in 2024, the charity operates across the UK to advance education in actuarial science and mathematics, provide relief to members of the actuarial profession in financial need, and support charities where actuaries are actively involved. The organization is governed by eight trustees and operates with two volunteers. It has broad links with several UK universities offering actuarial courses and maintains a strong focus on improving mathematics education in schools. The charity is recognized by HMRC for gift aid and maintains robust policies on financial controls, risk management, and safeguarding.

Funding Priorities

Grant Programs

Undergraduate Bursaries: Up to £1,000 per student

  • For students entering their final year of an Actuarial Science degree at UK universities
  • Application deadline: Midnight on 30th June for the following academic year
  • Selection based on financial need, academic progress, and intent to qualify with the Institute and Faculty of Actuaries (IFoA)
  • Requires course tutor reference

Undergraduate Prizes: Amount not specified

  • Awarded to undergraduates for outstanding performance in their penultimate year of study for a degree in actuarial science at a UK university

Phiatus Award: £5,000 donation to charity of winner's choice

  • Annual award to an actuary who has made an outstanding contribution to charity
  • Recognizes all forms of charitable work, not just fundraising
  • Winner receives silver salver and invitation to livery dinner
  • Application method: Email rosschiswick@gmail.com

Charitable Grant Contributions: Variable amounts

  • Members may apply for contributions to charities where they have a meaningful role
  • Application method: Complete application form and email to charity@actuariescompany.co.uk

Royal Society Partnership Grants: Support provided to schools

  • The charity has supported three schools running maths-focused projects through this scheme
  • Since 2000, the Royal Society Partnership Grants Scheme has awarded over £1.3m to over 800 schools and colleges

Royal Institution Primary Masterclasses: Support for mathematics education

Geoffrey Heywood Awards: Named in memory of the Founding Master of the Worshipful Company of Actuaries, supporting excellent mathematics teaching

Priority Areas

  • Advancement of education for persons intending to practice as actuaries or other recognized professions
  • Charitable research in actuarial science and mathematics
  • Mathematical and financial education in schools and colleges
  • Support for students in financial need undertaking actuarial studies, apprenticeships, internships, or training positions
  • Charities where members of the actuarial profession are actively involved
  • Charities connected to the City of London
  • Relief of poverty for members of the actuarial profession and their dependants

What They Don't Fund

While specific exclusions are not explicitly listed, the charity's focus clearly indicates:

  • Projects without a connection to actuarial science, mathematics education, or an actuary's involvement
  • Organizations outside the UK
  • General applications without demonstrable actuarial or mathematical relevance
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Governance and Leadership

The charity is governed by eight trustees who receive no remuneration for their service. Key trustees include:

  • Holly Ann Copley
  • Laura Ann Andrikopoulos
  • Christopher Bamford

Recent Leadership:

  • Master Elect 2024: Gordon Sharp, who had a successful career with KPMG LLP and has supported numerous actuaries and 95 actuarial students in their professional development
  • Trustee: Irene Paterson

The charity operates with two volunteers and maintains comprehensive governance policies including financial controls, risk management, and safeguarding measures. It does not own or lease land or property and has no trading subsidiaries.

Application Process and Timeline

How to Apply

For Undergraduate Bursaries:

  • Check the charity website for detailed application instructions
  • Submit application by midnight on 30th June in the academic year prior to your final year of study
  • Provide detailed information about financial position and efforts to raise funding independently
  • Demonstrate good academic progress and intent to achieve maximum exemptions from IFoA examinations
  • Show genuine, serious intent to join the IFoA and qualify with the UK professional body
  • Include course tutor reference

For Charitable Contributions:

  • Complete an application form
  • Email to charity@actuariescompany.co.uk
  • Members must demonstrate a meaningful role with the charity they're nominating

For Phiatus Award:

  • Email rosschiswick@gmail.com for application process details
  • Typically deadline is 31st October

Decision Timeline

Specific decision timelines are not publicly disclosed. For more information about application review processes and timelines, contact charity@actuariescompany.co.uk.

Success Rates

Success rates are not publicly disclosed. The charity distributed £171,305 in grants in 2024, with total income of £139,671 from member donations and legacies.

Reapplication Policy

No specific reapplication policy is publicly stated. Contact the charity directly for guidance on unsuccessful applications.

Application Success Factors

For Student Bursaries:

  • Demonstrate genuine financial need with detailed information about your financial position
  • Show evidence of self-help and efforts to raise funding independently
  • Maintain strong academic progress toward maximum IFoA exemptions
  • Express clear, serious intent to qualify with the Institute and Faculty of Actuaries
  • Obtain a strong reference from your course tutor

For Charitable Contributions:

  • Members should have a meaningful, active role with the charity (not just a donation relationship)
  • Connection to actuarial profession strengthens applications
  • Mathematics education projects receive particular attention
  • Alignment with the charity's core mission of education and research in actuarial science and mathematics

Key Success Indicators:

  • Recent funded organizations include Mummy's Star (cancer support during pregnancy), Brainwave Trust, Sea Cadets, and Spitalfields City Farm
  • Projects involving actuaries in direct charitable work (beyond fundraising) are valued
  • Mathematics education initiatives in schools receive consistent support
  • The charity values long-term impact in mathematics education and actuarial profession development

Language and Terminology:

The charity emphasizes “meaningful involvement” and “advancement of education,” focusing on the connection between the actuarial profession and charitable impact. Applications should demonstrate clear educational or professional development outcomes.

Key Takeaways for Grant Writers

  • Strong actuarial connection is essential: Whether applying as a student, member, or charity, demonstrating genuine involvement with the actuarial profession significantly strengthens applications
  • Mathematics education is a priority: The charity has a consistent track record of supporting mathematics education in schools through various programs
  • Financial need must be well-documented: For bursaries, detailed financial information and evidence of self-help efforts are critical
  • Apply early for student bursaries: The 30th June deadline for applications is firm, and applications must be submitted in the year before your final year
  • Member involvement matters most: For charitable contributions, having an actuary with a “meaningful role” (not just donations) is key to success
  • Consider the Phiatus Award: If you're an actuary doing charitable work, this £5,000 award recognizes all forms of charitable contribution, not just fundraising
  • Small charity with focused mission: With annual expenditure of £171,305, this is a targeted funder with specific expertise in actuarial and mathematical education

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