WFO / Institutional research & collaboration

UK Grantmaking Foundations

Today we have extraordinary technological, financial and informational capability. WFO believes that vision, human creativity and imagination help determine what those capabilities can achieve—and that evidence, governance and stewardship turn ambition into enduring value.

A heritage of stewardship · An active Six Capitals proposition · 2025 and 2026 research editions

Read the research reports ↓Search the directories ↓Explore collaboration ↓

Purpose and heritage

Imagination, disciplined by evidence.

Windmill Family Office is a private single-family office combining disciplined capital stewardship, institutional governance and evidence-based analysis. Its Six Capitals framework recognises the contribution of knowledge, culture and relationships alongside financial resources.

Intellectual inheritance

The Bacon tradition

The family's intellectual heritage draws on a wider Bacon tradition of enquiry. Its clearest traceable maternal ancestry spans approximately four centuries. Family origins ↗

Enterprise and capital

The Windmill tradition

The family traces its capital enterprise to 1891, followed by manufacturing and family stewardship arrangements in the twentieth century. Read the historical record ↗

The traditions came together through Patricia Bacon's marriage into the Windmill family in the 1950s. Steven Windmill assumed principal responsibility in January 2019; Windmill Family Office Ltd was incorporated in 2026. The Office welcomes imaginative institutional dialogue grounded in evidence and practical capability.

Why this research exists

Independent research. Informed collaboration.

These two editions provide searchable reference records for 100 UK trusts and foundations each, supporting informed dialogue across family offices, philanthropy, museums, arts, heritage, science and education. Explore WFO research ↗

Each foundation appears because of its place in the cited source data. Inclusion does not imply a relationship, endorsement or funding eligibility.

Six Capitals in practice

Four pathways to institutional engagement

WFO welcomes substantive engagement where complementary capabilities advance institutional purpose. Its Six Capitals approach recognises that contribution may take several forms beyond funding.

Governance & stewardship

Family members may consider board, trustee, committee or advisory appointments in their individual capacities. Meet WFO's leadership ↗

Knowledge & speaking

Speaking, panel contributions and informed discussion at academic, museum, scientific and cultural events. Professional engagement ↗

Relationships & connectivity

Introductions, convening and research exchange where shared interests provide a sound basis for cooperation. The Six Capitals ↗

Strategic & financial cooperation

Project assessment, shared expertise and selected financial cooperation, where purposes and responsibilities are clear. The Office ↗

Engaging with WFO

Board and trustee appointments are held by family members personally, in the interests of the institutions they serve. Any organisational or financial commitment is considered separately through the applicable governance arrangements.

Selective family-supported grants

WFO considers discretionary grants for organisations championed by a family member, causes with a family connection, and institutions whose contribution to society reflects shared family interests. Proposals are considered by the Family Council; funds are released following Council approval and the appropriate administrative arrangements. The Office does not operate an open public grant-application programme. See Public Service & Charitable Interests.

Discuss an institutional opportunity: contact the Office ↗ or email contact@windmillfamilyoffice.com.

Research reports

Two editions. A reproducible reference.

The 2025 baseline establishes the source-ranked reference. The 2026 annual review identifies selected changes using restated prior-year comparators from the 2026 source, not misleading direct subtraction across editions. Both PDFs contain all 100 institution records.

Current edition / Annual review

2026

UK Grantmaking Foundations

Financial reference: 2024–25. One hundred institutions, their reported expenditure, restated prior-year figures, material movements, methodology and source acknowledgements.

10 pages · Prepared September 2026 · Internal review

Download 2026 report (PDF) ↓

Inaugural reference / Baseline

2025

UK Grantmaking Foundations

Financial reference: 2023–24. The original source-ranked first 100, foundational sector context and the research protocol used to develop this series.

9 pages · Prepared September 2026 · Internal review

Download 2025 report (PDF) ↓

2025 and 2026 identify source editions and the underlying reporting periods. Both WFO PDFs are internal review drafts dated September 2026; figures and policy wording require final source and publication checks.

Institutional reference

Search our first 100 source-ranked Trusts, Foundations & Family Foundations

Two complete searchable directories: 100 records in the 2026 edition and 100 in the 2025 edition. Select an edition and search names or source categories. The list is attributed to UKGrantmaking, not presented as WFO's own independent Top Ten.

All 200 institution records are available below.

2026 EDITION · ANNUAL REVIEW

The 100 foundations: 2026

2026 edition; financial period 2024–25; comparator 2023–24 restated in the same 2026 source. Values in GBP millions; UKGrantmaking's source-reported annual grantmaking expenditure, not verified individual awards.

£4,827.3mSum of 100 rounded source figures

2026 combined UKGrantmaking trusts and foundations: first 100 source ranks
Rank	Institution	Source segment	2024–25 expenditure	2023–24 restated	Change*
1	Wellcome Trust	Wellcome Trust	£1,043.1m	£1,214.1m	−£171.0m
2	Children's Investment Fund Foundation (UK)	Family Foundation	£473.0m	£439.0m	+£34.0m
3	Quadrature Climate Foundation	Corporate Foundation	£204.7m	£246.8m	−£42.1m
4	Social Investment Business Foundation	Government/Lottery Endowed	£171.6m	£57.7m	+£113.9m
5	UBS Optimus Foundation UK	Corporate Foundation	£144.2m	£148.0m	−£3.8m
6	Garfield Weston Foundation	Family Foundation	£128.1m	£99.4m	+£28.7m
7	Leverhulme Trust	Family Foundation	£120.3m	£128.5m	−£8.2m
8	Gatsby Charitable Foundation	Family Foundation	£119.7m	£59.8m	+£59.9m
9	Football Foundation	Member/Trade Funded	£109.2m	£81.0m	+£28.2m
10	CH Foundation (UK)	Family Foundation	£100.1m	£139.6m	−£39.5m
11	City Bridge Foundation	General Foundation	£78.9m	£82.9m	−£4.0m
12	AKO Foundation	Corporate Foundation	£75.5m	£46.6m	+£28.9m
13	Julia Rausing Trust	Family Foundation	£65.9m	£59.4m	+£6.5m
14	Arcadia	Family Foundation	£63.9m	£133.3m	−£69.4m
15	Henry Smith Charity	General Foundation	£61.9m	£46.4m	+£15.5m
16	Grace Trust	Fundraising Grantmaker	£52.4m	£33.9m	+£18.5m
17	Breakthrough Foundation	General Foundation	£51.6m	£89.8m	−£38.2m
18	Esmée Fairbairn Foundation	Family Foundation	£48.7m	£58.0m	−£9.3m
19	Cambridge Trust	General Foundation	£41.5m	£39.7m	+£1.8m
20	Katherine Martin Charitable Trust	General Foundation	£39.3m	£1.1m	+£38.2m
21	Family Fund Trust	General Foundation	£37.8m	£38.8m	−£1.0m
22	Corra Foundation	General Foundation	£37.6m	£38.3m	−£0.7m
23	Wolfson Foundation	Family Foundation	£37.3m	£45.3m	−£8.0m
24	Ahmadiyya Muslim Jamaat International	General Foundation	£35.8m	£37.7m	−£1.9m
25	National Assistance Fund	General Foundation	£35.8m	£34.2m	+£1.6m
26	BBC Children in Need	Fundraising Grantmaker	£35.7m	£26.3m	+£9.4m
27	Paul Hamlyn Foundation	Family Foundation	£35.2m	£56.9m	−£21.7m
28	Aga Khan Foundation (United Kingdom)	General Foundation	£34.3m	£43.2m	−£8.9m
29	Guy's and St Thomas' Foundation	General Foundation	£32.8m	£28.1m	+£4.7m
30	Premier League Charitable Fund	Corporate Foundation	£32.6m	£32.8m	−£0.2m
31	Impetus - The Private Equity Foundation	General Foundation	£32.1m	£23.1m	+£9.0m
32	Foundation Scotland	Community Foundation	£31.9m	£22.4m	+£9.5m
33	February Foundation	General Foundation	£30.5m	£4.2m	+£26.3m
34	Muslim Hands	General Foundation	£29.7m	£24.3m	+£5.4m
35	Goldman Sachs Gives (UK)	Corporate Foundation	£29.6m	£26.0m	+£3.6m
36	Robertson Trust	Family Foundation	£28.9m	£29.3m	−£0.4m
37	Comic Relief	Fundraising Grantmaker	£28.8m	£33.5m	−£4.7m
38	Pears Foundation	Family Foundation	£27.6m	£23.6m	+£4.0m
39	England and Wales Cricket Trust	Corporate Foundation	£26.5m	£25.3m	+£1.2m
40	Youth Endowment Fund Charitable Trust	Government/Lottery Endowed	£26.4m	£18.5m	+£7.9m
41	Masonic Charitable Foundation	Member/Trade Funded	£26.3m	£30.1m	−£3.8m
42	Benefact Trust Limited	Corporate Foundation	£25.4m	£23.4m	+£2.0m
43	The Rhodes Trust	Family Foundation	£24.8m	£20.4m	+£4.4m
44	Moondance Foundation	Family Foundation	£23.5m	£22.6m	+£0.9m
45	Access - The Foundation for Social Investment	Government/Lottery Endowed	£22.8m	£5.3m	+£17.5m
46	Sigrid Rausing Trust	Family Foundation	£22.8m	£51.9m	−£29.1m
47	SSAFA, the Armed Forces Charity	Member/Trade Funded	£21.9m	£22.6m	−£0.7m
48	Education Endowment Foundation	Government/Lottery Endowed	£21.8m	£20.8m	+£1.0m
49	Worwin UK Foundation	General Foundation	£21.0m	£16.4m	+£4.6m
50	Sequoia Trust	General Foundation	£20.9m	£18.0m	+£2.9m
51	Jim Ratcliffe Foundation	General Foundation	£20.0m	£0.0m	—
52	Lloyds Bank Foundation for England & Wales	Corporate Foundation	£19.6m	£19.7m	−£0.1m
53	Foyle Foundation	General Foundation	£19.4m	£20.3m	−£0.9m
54	United Talmudical Associates Ltd	General Foundation	£18.9m	£17.7m	+£1.2m
55	This Day Foundation	Family Foundation	£17.9m	£24.8m	−£6.9m
56	Postcode Care Trust	Fundraising Grantmaker	£17.9m	£11.4m	+£6.5m
57	Said Foundation	Family Foundation	£17.3m	£6.5m	+£10.8m
58	Vodafone Foundation	Corporate Foundation	£17.3m	£15.5m	+£1.8m
59	Postcode Planet Trust	Fundraising Grantmaker	£17.1m	£13.5m	+£3.6m
60	Elton John Aids Foundation	General Foundation	£16.8m	£17.4m	−£0.6m
61	Denise Coates Foundation	Family Foundation	£16.7m	£11.3m	+£5.4m
62	Edward Gostling Foundation	General Foundation	£16.7m	£13.2m	+£3.5m
63	Postcode Justice Trust	Fundraising Grantmaker	£16.6m	£16.0m	+£0.6m
64	The Health Foundation	General Foundation	£16.5m	£16.8m	−£0.3m
65	Postcode International Trust	Fundraising Grantmaker	£16.2m	£12.9m	+£3.3m
66	Grand Charity	Member/Trade Funded	£15.8m	£17.5m	−£1.7m
67	Postcode Animal Trust	Fundraising Grantmaker	£15.7m	£13.9m	+£1.8m
68	Fondation Chanel	Corporate Foundation	£15.6m	£20.3m	−£4.7m
69	Lloyd's Register Foundation	Corporate Foundation	£15.2m	£15.7m	−£0.5m
70	Postcode Education Trust	Fundraising Grantmaker	£15.2m	£17.0m	−£1.8m
71	Postcode Community Trust	Fundraising Grantmaker	£15.1m	£3.7m	+£11.4m
72	John Lyon's Charity	General Foundation	£15.0m	£15.9m	−£0.9m
73	Postcode Earth Trust	Fundraising Grantmaker	£14.9m	£15.9m	−£1.0m
74	Postcode Support Trust	Fundraising Grantmaker	£14.9m	£14.5m	+£0.4m
75	Nuffield Foundation	Family Foundation	£14.9m	£10.4m	+£4.5m
76	Fidelity UK Foundation	Corporate Foundation	£14.8m	£12.9m	+£1.9m
77	Access to Justice Foundation	Fundraising Grantmaker	£14.7m	£6.6m	+£8.1m
78	Trust for London	General Foundation	£14.6m	£17.7m	−£3.1m
79	Standard Chartered Foundation	Corporate Foundation	£14.4m	£4.9m	+£9.5m
80	Helping Foundation	General Foundation	£14.4m	£15.1m	−£0.7m
81	British Gas Energy Trust	Corporate Foundation	£14.3m	£16.3m	−£2.0m
82	Postcode Children Trust	Fundraising Grantmaker	£14.3m	£15.4m	−£1.1m
83	Albert Gubay Charitable Foundation	General Foundation	£14.3m	£12.2m	+£2.1m
84	bp Helios Fund	Corporate Foundation	£14.0m	£0.9m	+£13.1m
85	Youth Futures Foundation Limited	Government/Lottery Endowed	£13.8m	£6.4m	+£7.4m
86	Rothschild Foundation	Family Foundation	£13.8m	£6.9m	+£6.9m
87	Joseph Rowntree Charitable Trust	Family Foundation	£13.8m	£20.0m	−£6.2m
88	Cash for Kids	Corporate Foundation	£13.7m	£12.6m	+£1.1m
89	Sports Aid Trust	General Foundation	£13.7m	£13.3m	+£0.4m
90	Rosetrees	Family Foundation	£13.6m	£7.7m	+£5.9m
91	FIA Foundation	Member/Trade Funded	£13.5m	£13.6m	−£0.1m
92	Council for at-Risk Academics	General Foundation	£12.9m	£11.2m	+£1.7m
93	Mohn Westlake Foundation	Family Foundation	£12.9m	£9.8m	+£3.1m
94	World Federation of Khoja Shia Ithna-Asheri Muslim Communities	General Foundation	£12.8m	£8.8m	+£4.0m
95	Waterloo Foundation	Family Foundation	£12.6m	£12.7m	−£0.1m
96	Nesta	Government/Lottery Endowed	£12.5m	£5.2m	+£7.3m
97	Old Dart Foundation	General Foundation	£12.4m	£12.5m	−£0.1m
98	Eleva Foundation Ltd	Corporate Foundation	£12.3m	£0.0m	—
99	Chevras Mo'oz Ladol	General Foundation	£12.2m	£10.2m	+£2.0m
100	Calleva Foundation	Family Foundation	£12.1m	£5.6m	+£6.5m

Source: UKGrantmaking 2026, combined “Largest 300 Trusts and Foundations by grantmaking spend” table. Only its first 100 rows are included; this is not a WFO grant-by-grant ranking.

2025 EDITION · BASELINE REPORT

The 100 foundations: 2025

2025 edition; financial period 2023–24; original figures as published in 2025. Values in GBP millions; UKGrantmaking's source-reported annual grantmaking expenditure, not verified individual awards.

£4,870.9mSum of 100 rounded source figures

2025 combined UKGrantmaking trusts and foundations: first 100 source ranks
Rank	Institution	2023–24 expenditure
1	Wellcome Trust	£1,214.1m
2	Children's Investment Fund Foundation (UK)	£439.0m
3	Quadrature Climate Foundation	£246.8m
4	UBS Optimus Foundation UK	£148.0m
5	CH Foundation (UK)	£139.6m
6	Arcadia	£133.3m
7	Leverhulme Trust	£128.5m
8	Garfield Weston Foundation	£99.4m
9	Breakthrough Foundation	£89.8m
10	City Bridge Foundation	£82.9m
11	Football Foundation	£81.0m
12	Julia Rausing Trust	£68.0m
13	Gatsby Charitable Foundation	£59.8m
14	Esmée Fairbairn Foundation	£58.0m
15	Social Investment Business Foundation	£57.7m
16	Paul Hamlyn Foundation	£56.9m
17	Sigrid Rausing Trust	£51.9m
18	AKO Foundation	£46.6m
19	Henry Smith Charity	£46.4m
20	Wolfson Foundation	£45.3m
21	Aga Khan Foundation (United Kingdom)	£43.2m
22	Cambridge Commonwealth Trust	£39.7m
23	Family Fund Trust	£38.8m
24	Corra Foundation	£38.3m
25	Ahmadiyya Muslim Jamaat International	£37.7m
26	National Assistance Fund	£34.2m
27	Grace Trust	£33.9m
28	Comic Relief	£33.5m
29	Premier League Charitable Fund	£32.8m
30	Robertson Trust	£29.3m
31	The Vinehill Trust	£28.8m
32	Guy's and St Thomas' Foundation	£28.1m
33	BBC Children in Need	£26.3m
34	Goldman Sachs Gives (UK)	£26.0m
35	England and Wales Cricket Trust	£25.3m
36	This Day Foundation	£24.8m
37	Muslim Hands	£24.3m
38	Cora Foundation	£24.3m
39	Pears Foundation	£23.6m
40	Benefact Trust Limited	£23.4m
41	Lempriere Pringle 2015	£23.2m
42	Impetus - The Private Equity Foundation	£23.1m
43	Moondance Foundation	£22.6m
44	SSAFA, the Armed Forces Charity	£22.6m
45	Foundation Scotland	£22.4m
46	Education Endowment Foundation	£20.8m
47	The Rhodes Trust	£20.4m
48	Fondation Chanel	£20.3m
49	Foyle Foundation	£20.3m
50	Joseph Rowntree Charitable Trust	£20.0m
51	Lloyds Bank Foundation for England & Wales	£19.7m
52	Sequoia Trust	£19.6m
53	Masonic Charitable Foundation	£19.4m
54	LTA Tennis Foundation	£19.2m
55	Youth Endowment Fund Charitable Trust	£18.5m
56	Vodafone Foundation	£17.9m
57	Trust for London	£17.7m
58	United Talmudical Associates Ltd	£17.7m
59	Elton John Aids Foundation	£17.4m
60	Co-operative Group	£17.1m
61	Postcode Education Trust	£17.0m
62	A W Charitable Trust	£16.9m
63	The Health Foundation	£16.8m
64	Grand Charity	£16.7m
65	Worwin UK Foundation	£16.4m
66	British Gas Energy Trust	£16.3m
67	Greenwood Place	£16.2m
68	Postcode Justice Trust	£16.0m
69	Association of NHS Charities	£16.0m
70	Postcode Earth Trust	£15.9m
71	John Lyon's Charity	£15.9m
72	Tudor Trust	£15.8m
73	Postcode Children Trust	£15.4m
74	Helping Foundation	£15.1m
75	William Delafield Charitable Trust	£14.6m
76	Community Foundation for Northern Ireland	£14.5m
77	Postcode Support Trust	£14.5m
78	Postcode Animal Trust	£13.9m
79	FIA Foundation	£13.6m
80	Postcode Planet Trust	£13.5m
81	Cash for Kids	£13.4m
82	Postcode Innovation Trust	£13.3m
83	Goldsmiths' Company Charity	£13.3m
84	Edward Gostling Foundation	£13.2m
85	Keren Association Limited	£13.2m
86	Heart of England Community Foundation	£13.1m
87	Khodorkovsky Foundation	£13.1m
88	Masonic Samaritan Fund	£13.1m
89	Fidelity UK Foundation	£13.0m
90	Postcode International Trust	£12.9m
91	Waterloo Foundation	£12.7m
92	Council for World Mission (UK)	£12.6m
93	Old Dart Foundation	£12.5m
94	Albert Gubay Charitable Foundation	£12.2m
95	Lankelly Chase	£12.2m
96	London Community Foundation	£11.5m
97	Shetland Charitable Trust	£11.4m
98	Postcode Care Trust	£11.4m
99	Denise Coates Foundation	£11.3m
100	Shell Foundation	£11.3m

Source: UKGrantmaking 2025, combined “Largest 300 Trusts and Foundations by grantmaking spend” table. Only its first 100 rows are included; this is not a WFO grant-by-grant ranking.

Evidence standards

Methodology, sources and limitations

Source acknowledgement

This WFO research draws upon the UKGrantmaking dataset and research programme. UKGrantmaking identifies and analyses UK grantmakers using charity-regulator data, statutory accounts, published grantmaking information and other sector sources, supported by manual verification and data cleaning. WFO has used the first 100 entries in UKGrantmaking’s combined Largest 300 Trusts and Foundations by grantmaking spend tables as the underlying reference population for these editions. WFO’s selection, presentation, comparative treatment and commentary are its own.

Population, dates and measures

Each directory reproduces the first 100 entries in UKGrantmaking's combined “Largest 300 Trusts and Foundations by grantmaking spend” table for the edition stated. It is neither a ranking of all UK funding bodies nor the separate family-foundation top 100. Values are source-published grantmaking expenditure in GBP millions. Individual totals are derived from rounded source amounts and are approximate.

Comparability

The original 2025 edition reports the financial period 2023–24. The 2026 edition reports 2024–25 and separately supplies its own restated 2023–24 figures. UKGrantmaking cautions that differences in methodology, data coverage, boundaries and restatements prevent straightforward comparison between historical editions. Accordingly, any 2026 change shown in this directory uses the restated comparator within the 2026 source. A restated comparator of zero is not interpreted as evidence of zero giving.

Award-level transparency

The amount spent by an institution does not itself verify identifiable grant awards, disbursements, recipients or grant outcomes. Individual award records are incompletely published and may describe commitments rather than expenditure; intermediary transfers can duplicate records. WFO has not published its proposed independent award-level Top Ten because a defensible full-coverage comparison has not yet been established.

For the precise meaning of terms such as Capital, Authority and Stewardship, consult the WFO Glossary ↗. For WFO's institutional identity and decision-making framework, see The Office and Governance.

Institutional independence

Institutions are listed only because they appear in the cited source ranking; inclusion implies no WFO relationship, endorsement or eligibility for support. The directory is not a grant-application portal. WFO may separately consider selective family-supported grants through its Family Council.

Attribution and source access

Contains data from UKGrantmaking released under the terms of the Creative Commons Attribution 4.0 International License. Figures and names are extracted from the 2025 tables and 2026 tables; see also UKGrantmaking's methodology and data. WFO's selection, presentation and commentary are its own and are not endorsed by UKGrantmaking.

Publication date: 27 September 2026 · Public research edition.