Beyond money: A study of funding plus
The Institute for Voluntary Action Research recently launched this report, which examines different charitable foundation’s approaches to funding plus (which the authors describe as any activity which is additional to a grant and the grant-making process.
The research (funded by Trust for London, the Barrow Cadbury Trust and the Diana, Princess of Wales Memorial Fund) considers the principal benefits, challenges and risks of different approaches.
The primary audience for the study is trusts and foundations interested in thinking about the introduction, further development or refinement of funding plus practices. This report brings together the findings from 29 trusts and foundations engaged in funding plus work. 101 interviews were undertaken with grant makers, third parties engaged with the delivery of funding plus, and grantees in receipt of funding plus approaches.
The research found that the funding plus field comprises a broad range of definitions, purposes and activity. Within this it was able to identify a number of overarching preconditions for success in funding plus:
- strong personal relationships
- good knowledge of grantees and the sector in which they operate
- grantees that are ready and willing for an engaged relationship with a funder
- bespoke rather than standardised or prescriptive approaches
- careful and responsible management of power relationships between funder and grantee.