The Founders' Company manages several charities. Whilst some of the funds are available for more general charitable purposes, the bulk of the annual income is spent on education grants and bursaries, the larger elements being grants relevant to metallurgy and materials engineering.
The funds have been built up and distributed over a number of years. The investment of these funds is professionally managed, and any dividends then disbursed by the Charity, Industry and Education Committees.
Final decisions about any donations are made by the Court of the Company upon the recommendation of these Committees. The main focus is on young people from all backgrounds, gifted or needy or quite often both. University bursaries are generally given to second year students studying for degrees in Metallurgy or Material Sciences. Equally important is the support given to apprenticeship schemes.
Generally, but not entirely exclusively, awards are given direct to individuals. In that way, modest amounts can have an immediate impact for good. The Company endeavours to keep in touch with beneficiaries.
In 2020 the Company offerred a number of bursaries: five travel bursaries to Barts and the London School of Medicine; Six bursaries in Material Sciences at three UK universities; one full bursary and four music scholarships at City of London Girls' School.
THE WORSHIPFUL COMPANY OF FOUNDERS - FUNDER STATEMENT ON COVID-19
The Company, along with a wider group of funders, recognise that the Covid-19 outbreak is an exceptional event that will have an impact on civil society groups, and want to offer reassurance that we stand with the sector during this time. We wish to be as helpful as possible during the coming weeks and months so that civil society groups can focus on the vital work of supporting some of the most vulnerable people in our communities. We understand that there will be times when staff and volunteers will not be available, when beneficiaries may need services to be provided in different ways, or when systems need to be flexible to ensure that needs are met.
If your community, services or organisation are affected by the Covid-19 outbreak, and you receive grant funding from us, we are committed to:
Adapting activities – we recognise that you may experience difficulties achieving some of the outputs or outcomes we agreed for your grant during the outbreak, and would like to be able to maintain our grant payments to you at originally-agreed levels during this period, so please have a conversation with us if you are affected in this way.
Discussing dates – we don’t want to add pressure, so if you think you will struggle to meet a reporting deadline please get in touch with us so that we can agree a more realistic time for you to get things to us wherever possible.
Financial flexibility – we know you may need to use your funding to help cover sickness, purchase equipment, or deliver services differently, and we will be reasonable if you need to move money between budget headings to ensure your work can continue.
Listening to you – we are here if you want to talk to us about the situation you’re facing, but we’ll wait for you to call us so that these conversations are at the right time for you.
We also recognise that there may be further shocks to the system caused by Covid-19 that may impact on your other income streams or require a more urgent response from funders. Where we have any news on emergency funding, we commit to publishing this on the London Funders web page below so you can see all available programmes in one place.
This statement is being coordinated by London Funders, but is not only for their members or funders in London, so if you have other funders or supporters you think would like to sign this please ask them to get in touch with the team at firstname.lastname@example.org You can see the current list of funders who have committed to this statement alongside us at https://londonfunders.org.uk/about/covid-19