Friends Provident Foundation to gain £20 million in shares
Howard Lake | 13 April 2004 | News
Friends Provident Charitable Foundation will receive up to £20 million of unclaimed shares in July 2004, considerably expanding its grant-making capability.
The Foundation was founded in 2001 when Friends Provident ceased being a mutual company. At first it was the conduit for those policyholders choosing to donate their ‘free’ demutualisation shares to charity. At the same time the company decided that any shares still unclaimed would, after three years, be donated to the Foundation, up to a value of £20 million. That three year period comes up in July 2004.
The foundation’s trustees have already commissioned a book on the ‘Right Use of Money’ featuring essays from business people, journalists, think tanks, politicians and people with first-hand experience of poverty and homelessness. The foundation’s grantmaking policies will however be announced at its formal launch in July 2004.
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.