Wesleyan, the specialist financial mutual, has launched a new charitable foundation in partnership with Heart of England Community Foundation with an aim to give up to £1 million a year to good causes.
The Wesleyan Foundation hopes to award around 100 grants in its first year and will enable its customers and members to decide which projects receive the most support, by nominating voluntary organisations important to them. Charities, community groups and social enterprises who meet the criteria can also apply directly to the fund.
While the funding will come from Wesleyan, it is partnering with Heart of England Community Foundation, who will administer the fund and distribute it to organisations across the UK.
Three levels of funding will be awarded, including small grants of £2,000 and under, medium-sized awards of between £2,000 and £10,000 and discretionary, large grants of more than £10,000.
The first charities to receive medium-sized grants from the Foundation include:
Warwickshire Reminiscence Action Project, which works to reduce isolation for those with dementia.
Pets as Therapy, which provides therapeutic visits to people in need across the UK.
Books Beyond Words, which supports people with learning and communication difficulties.