Our relationship with Nationwide Building Society

The Nationwide Foundation (the Foundation) is a registered charity (number 1065552) established in 1997 and capable of carrying out all charitable purposes under English law.   The Foundation is the beneficiary of the charitable assignment scheme put in place by the Society with effect from 3 November 1997.  The scheme was put in place in order to address the disruption caused to the Society’s business from persons seeking to make short term gains from a demutualisation of the Society.  Customers who have become members of the Society since 3 November 1997 have (with certain exceptions) been required under the scheme to assign their rights to conversion benefits to the Foundation in the event that the Society’s business is transferred to a company. 

The Foundation has accepted, and relied upon, all new Members’ transfer of any future conversion benefits to it.  On acceptance of an application to the Society and opening an account, customers automatically become members of the Foundation.  It is intended that each of the Society and the Foundation has the right independently to enforce the scheme against such members. 

The Charity

The Foundation is principally funded by the Society which makes lump sum donations to the charity from time to time.  It is independent from the Nationwide Group and is run by a Board of Trustees which operates the Foundation in accordance with its charitable objects; these are to promote such purposes being exclusively charitable according to the law of England and Wales as the Trustees shall from time to time determine. 

The Foundation carries out its objects by making grants to registered charities in the UK, in accordance with its strategic aims.  The Trustees of the Foundation are committed to ensuring that the Foundation’s funds are deployed for maximum benefit and develop its grants programmes from detailed strategic reviews, incorporating research, feedback from charities about their funding needs, grant making experience and good practice.
The Foundation’s grants, in accordance with the charitable purposes of the Charities Act 2006, are designed to provide relief to people in need by reason of disadvantage and focus on causes which are not well supported by others. 

Current Grant Making Activities

The Foundation’s current three year grant making strategy ‘Money Matters, Homes Matter, Families Matter’ was set following a detailed strategic review of the Foundation’s grant-making.  The strategy reflects a commitment to focus grant support on financial inclusion and housing related issues.  As a part of the strategic review, the Trustees commissioned independent research, which was carried out by Corporate Citizenship and New Philanthropy Capital, to establish the areas within these fields where the Foundation could make a significant difference and achieve public benefit.  As a result of this research, the Foundation’s grants are currently being offered to charities tackling the housing and financial issues facing vulnerable older people and survivors of domestic abuse – groups found to be often under supported.

In 2009, the Foundation awarded large grants totalling £3 million through its Investor Programme to 10 charities.  The Foundation will work with these charities for three years, and this work is expected to benefit more than 10,000 people, including those from black and minority ethnic groups, dementia sufferers and rurally isolated older people.  The Foundation also runs a Small Grants Programme which offers one-off donations up to £5,000 to registered charities with an income under £500,000.  Last year, this Programme helped around 77,000 beneficiaries across the UK.

Trustees

The Foundation’s Board comprises 10 Trustees who meet quarterly, with sub-committees which meet more regularly.  The Trustees are drawn from a wide variety of professional backgrounds including from the voluntary, public, private and commercial sectors.  The Foundation’s Chair is John Kingston OBE, Director of Venturesome at the Charities Aid Foundation.  John will also be the Chair of the Association of Charitable Foundations following their AGM on 22 September 2010.

The Trustees are all members of the Nationwide Foundation and serve a maximum term of six years.  When vacancies arise, Trustees are recruited via open advertisement on the Foundation’s website and usually in relevant press, e.g. The Times, The Guardian, Third Sector magazine. 

Feedback from Members

The Trustees of the Foundation continually welcome feedback on its work, particularly from Foundation Members.

How can I contact the Foundation?

Frequently Asked Questions

Who are Foundation members?

If you joined the Society after 2 November 1997, you will automatically have become a charity member of The Foundation and, in the unlikely event of conversion, any conversion benefits you would have received will be given to The Foundation instead to support its charitable objectives.

Members who joined the Society before 3 November 1997 can also join The Foundation, but must give up their right to any potential conversion benefits. If you would like to know more about this, ask at your local branch, or telephone the Society on 08457 30 20 10.

Who are Society members?

There are two types of Society member:

The following accounts do not carry membership rights:

Can I be a member of both organisations?

Yes, you will be a member of both organisations if:

The Nationwide Foundation is a registered charity (no 1065552) and has limited liability being a company limited by guarantee registered in England and Wales (no. 3451979). Registered office address: Nationwide House, Pipers Way, Swindon, SN38 1NW.
Site updated: December 2011