In particular, the Fund aims to:
o Empower people to make better decisions about money.
o Equip people with better digital and financial literacy skills to achieve new opportunities for employment and education, and
o Ensure people feel safe when using digital tools.
The Foundation specifically wants to reach groups that are among the most commonly excluded from financial services, including lone parents, single pensioners, migrants and refugees, those with long term illnesses and disabilities, those struggling to find sustained employment and households headed by students or part-time workers.
The Foundation aims to award 12 grants of up to a total of £150,000 per organisation. Grants will be awarded over a 3-year period. Registered charities, Charitable Incorporated Organisations and Community Interest Companies with an annual income of over £75,000 may apply for funding.
To be eligible to apply for a grant, organisations must:
o Be based in the UK and working within one of the nations or regions.
o Be a UK registered charity, Charitable Incorporated Organisation or Community Interest Company.
o Have at least three unconnected Trustees, Directors or Management Committee members. By unconnected they mean not related by blood, marriage, in a long-term relationship or living together at the same address.
o Have an annual income above £75,000. They aim to fund no more than 40% of an organisation’s income in any one year. They anticipate most of the organisations They will support will be small and medium-sized organisations with an income of less than £2 million.
o Have a bank account in the organisation’s name with at least two unconnected signatories, and
o Have been operating for at least 18 months and have at least one set of annual accounts.
Further information, guidance and an online application form is available of the Santander Foundation website.
The deadline for applications is Friday 13 August 2021.