Grants of up to £10,000 are available to not-for-profit organisations in the UK for projects that focus on building financial resilience and capability skills.
The Money Saving Expert (MSE) Charity has announced a change to its approach to grant-making. Previously, grants were made against a theme. For example, its last theme was ‘Living with Long-Term Challenges’, which focused on projects across the UK aimed at improving and delivering personal financial life skills to people living with long-term challenges, such as autism, brain injury, dementia and learning difficulties.
However, the ‘themed’ approach has been replaced by two open grant rounds each year, while the maximum grant award available has been increased from £8,000 to £10,000 (of which, £500 can be used for essential IT equipment that will assist project delivery). Up to 10 applications are expected to be supported in each funding round. Grants, which are for revenue only (the Charity does not fund capital works) can be used for any activities that improve financial capability.
The Charity has retained its interest in applications which use memorable, innovative and or creative ways of delivering financial capability and life skills which will make a lasting impact on the way people think, behave and manage their money.
The Charity defines financial capability as influencing the attitudes, skills and knowledge around the ability to manage money well. This can be from day-to-day or through significant life events, such as:
- Bereavement.
- Inability to work through disability or injury.
- Major long-term illness.
- Moving house.
- Pregnancy, and
- Redundancy.
Following its review of its grant-making, the Charity has introduced a new 3-stage application process, as follows:
- Stage 1: Grant Eligibility Quiz – to determine if the organisation and project meets the Charity’s general grant criteria. If successful, applicants will be able to proceed to Stage 2.
- Stage 2: Outline Proposal – this consists of a brief application that gives applicants the opportunity to tell the MSE Charity about their organisation and the activities they would like funded. This should provide sufficient detail for the Charity to assess whether the project proposal meets its grant-making objectives.
- Stage 3 - Full Application - invited short-listed applicants will be sent a link to complete a full application form with approximately one month to complete. This will require more detailed information to be provided about their organisation; evidence of need, the project activities; the team's experience; the outcomes they are hoping to achieve; a detailed project budget; and submission of supporting documents including their accounts and a recent bank statement.
Further information, guidance, Frequently asked Questions (FAQs) and the Eligibility Quiz can be found on the Charity’s website.