The Rank Foundation only accepts applications for a small percentage of its grant making. The Pebble grants (formerly known as “small appeals”) equates to under 5% of the money that the Foundation spends on charitable activities. This can seem surprising to some who are keen to let the Foundation know of its work, particularly when they are aware of the Rank Foundation funding projects nearby.
Why do you not accept applications for the other funding?
The Rank Foundation operates a model of engaged philanthropy; this differs from traditional philanthropy in the level of involvement that we as a grant making body undertake. This includes social and intellectual, as well as financial capital, management support, and access to our wider network (soon to be known as RankNet).
Our experience suggests that by concentrating funding, knowledge and expertise in a very focused way, promoting stronger partnerships and increased collaboration, helps to ‘add value’ where the outcome is greater than the sum of each part. It is therefore vital that each project is chosen by our executives, not only for the good practice and performance that it singularly provides, but also for the benefit of the network as a whole. Our focus on three distinct issues (leadership, enterprise and care) means that we can leverage greater input in these discrete areas, working with grant recipients to maximise their impact and good practice.
How are the projects chosen?
The Rank Foundation follows a specific form of engaged philanthropy, which is research led by its executive directors. Each of our key areas is headed up by a director, which enables the Foundation to draw not only on their expertise, but also on the big picture view of the funded projects in the area. They are therefore uniquely placed to advise trustees and fellow executives on areas for further development, which can then be researched and brought to the Foundation’s attention. We are consequently able to invite only organisations which are a particularly good fit, and have a greater likelihood of a success, to go through the time consuming process of completing an application and the necessary due diligence.
How can I find out more?
For further information on other models of engaged philanthropy, please see the European Venture Philanthropy Association, of which the Rank Foundation is a member.