As part of the organisation’s six strategic priorities, it wants to “support the development and growth of organisations investing in young people and positive change”. To do this they’ve developed two new funds: a Youth Fund and a Growth Fund.
The Youth Fund, which will provide funding of between £10,000 and £60,000, is intended to help organisations by covering a proportion of core operating costs. The foundation said it expects to make up to 30 awards a year through the fund.
“This is a direct response to feedback – that in order to achieve greatest positive impact in the lives of young people, organisations need to achieve a balance of stability, continuity and flexibility,” the organisation’s strategy document for 2015 to 2021 states.
The Growth Fund will provide funding and support to help organisations identify and implement practical steps to growth. It will be launched later this year and is by invitation only.
Other funds being run by the foundation include the Shared Ground Fund, which will provide support to help explore new approaches to assisting young migrants in need, and two art funds intended to enrich young people’s lives and education through art.
Moira Sinclair, chief executive of the Foundation, said:
“PHF’s mission remains ambitious and has never been more relevant. At a time of continued austerity and significant social and economic challenges, trusts and foundations can play a vital role in supporting innovation, and backing people with game-changing ideas, as well as providing long-term support and funding. Most importantly, our focus must be on helping people, especially young people, overcome disadvantage and realise their full potential.”