A rating system is being developed looking at foundations' commitment to diversity, transparency and accountability.
The findings will be published as part of the research that aims to put a spotlight on grant givers' governance and reporting practices.
The research has been developed by Friends Provident Foundation, in partnership with Barrow Cadbury Trust, The Blagrave Trust, Esmee Fairbairn Foundation, John Ellerman Foundation, Joseph Rowntree Reform Trust, Lankelly Chase Foundation and Paul Hamlyn Foundation.
A group of Foundations have come together to tackle Accountability, Transparency and Diversity. Find out more what they are doing here: https://t.co/9OwRfcOuda @EllermanUK @phf_uk @ACFoundations @blagravetrust @EsmeeFairbairn @LankellyChase @BarrowCadbury— Friends Provident Foundation (@FProvFoundation) May 20, 2021
“This aims to bring the lens often applied to influence and improve corporate behaviour – to bear on us,” according to a blog post by Friends Provident Foundation director Danielle Walker Palmour.
She says it will involve "a published report using publicly available information on governance and reporting practices. Through this, we want to understand ourselves better and through that understanding, bring about informed change".
“We aim to create a way to review, assess and report on how independent trusts and foundations in the UK compare to each other in relation to good governance practice and transparency," she said.
The data will be published annually over the next three years.
“This new information can be the start of a new conversation with society about how we make decisions and not just how much and what we give,” added Walker Palmour.
The project's research partner Giving Evidence has developed a survey on what criteria the charity sector would like to see in the research. This takes around 10 – 15 minutes.