Peter Cruddas Foundation

The Peter Cruddas Foundation was set up in December 2006 by billionaire financier Peter Cruddas. In that time, it has provided £15m to charitable causes that support disadvantaged young people in the UK.

Cruddas came from a working-class home in London and left school at 15 before setting up his firm CMC Markets. He has stated that attending the Scouts helped fuel his ambitions and give him confidence. He has received honorary university degrees for his philanthropic work.

Who does it help and how?

The foundation's funding aims to help the most disadvantaged and disengaged young people aged 14 to 30. It prioritises projects and programmes that help young people to access pathways to education, training and employment so that they can become financially independent.

It accepts applications from charities in England and Wales only, not community interest companies or social enterprises.

For organisations it cannot help financially, it sometimes offers networking, planning and mentoring support.

What are its priorities?

There are no other criteria on what the foundation will fund, although it does not accept applications for capital build projects. The foundation currently has three main priorities, which are:

  1. Pathways and support for young disengaged people in the age range of 16 to 30 into education, training or employment.
  2. Work experience and skills projects for young people aged 16 to 30.
  3. Youth work in London, particularly evening work for disadvantaged young people aged 16 to 30.

How much is available?

There is no minimum or maximum amount and projects can be funded for more than one year. The foundation expects applicants to demonstrate that they can manage the amount they have applied for and how they intend to continue after the funding has been spent. It does not intend to engage in continual repeat funding.

The most recent annual accounts for the 12 months up to March 2016, shows £453,000 was handed out in grant payments. Over that period, 33 youth organisations were awarded a total of £225,552. These ranged from £34,000 to £2,500. A further five organisations received a total of £227,000.

Who has been funded?

Examples of organisations that have been funded include:

The Princes Trust: A donation of £1m supported the creation of the trust's business programme in Wales. This offers grants to disadvantaged young people to set up their own enterprises and develop business ideas.

The Factory: Is a project developed by 11 Lambeth-based arts and enterprise organisations led by 198 Contemporary Arts and Learning. It supports 16- to 30-year-olds who are not in education employment or training or who have an offending history who want to pursue a career in the music, fashion or design industries. It offers apprenticeships, work experience, advice, training and mentoring.

Bootstrap: The funding enabled 15 young entrepreneurs to access £23,500 to start their own businesses through a pitching event. Bootstrap was set up in 1978 to support young people to set up their own businesses and improve employability skills.

The Challenge: The foundation supported the creation of a pilot scheme where young people were taken out of their comfort zones and challenged to devise viable community projects. It aims to put 16-year-olds through a one-year training and community scheme including 50 hours of social action.

M13: The organisation delivers detached youth work, and the foundation funding supported night street work carried out by youth workers and peer mentors. M13 develops consistent relationships with young people and aims to create further activity opportunities such as day trips, residential stays, issue-based workshops and community action.

What is the application process?

Applicants are expected to provide details about the organisation, explain about the costs of the project and how funding will be used, the financial health of the organisation, plans to make the project sustainable and what outcomes hope to be achieved.

When to apply?

There are two deadlines for applications throughout the year: 1 March and 1 September. Fast-track applications will be considered for time-critical or urgent projects.

More from:

Funding roundup

  • The ScottishPower Foundation has announced funding for the National Deaf Children's Society, enabling the charity to offer more support to the UK's 50,000 deaf children. The £39,000 grant will mean the National Deaf Children's Society can take its innovative Roadshow to schools across Scotland and the rest of the UK during the next 12 months.
  • Paul Hamlyn Foundation has announced four years of funding for education charity Into Film's, Film for Learning project. The initiative is a new four-year teacher and senior leader professional development project which aims to improve young peoples' engagement, participation and attainment in literacy by supporting teachers and senior leaders to use film as a tool for teaching and learning.
  • Private equity foundation Impetus has been selected to deliver the £200m Youth Endowment Fund as part of the government's long-term Serious Violence Strategy. Working with the Early Intervention Foundation and the Social Investment Business across England and Wales, it will fund and support programmes and community partnerships working with children and young people at risk of being drawn into crime and violence.
  • National children's charity Starlight held a charity ball hosted by the Duke of Marlborough, James Spencer-Churchill at his home, Blenheim Palace. The evening was in celebration of the Duke's son and his three family friends rowing the Atlantic in aid of Starlight. More than 200 people attended Blenheim by Starlight, which raised £835,000 for the foundation.

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