Youth Futures Foundation was established in February 2019 in response to the government’s commitment to allocate £90m of dormant asset funding to youth opportunities. We are an independent, not-for-profit organisation set up as an asset-locked company limited by guarantee. Our sole member is The Big Society Trust whose role is to ensure we are properly governed and remain true to our social mission but our newly appointed Board has full independence in deciding how we deliver our social mission.
The first grants programme is launched. The rolling grants programme is designed to find, fund, support and evaluate promising practice. Funding will go to organisations working with young people aged 14-24 years to help overcome barriers to finding meaningful work. Youth Futures Foundation is looking for approaches that can be tested, evaluated and, where proven to be effective, expanded to more young people. The launch concides with the Covid-19 crisis. Youth Futures Foundation acts to establish an emergency fund to address the devastating impact on young people and the organisations that support them.
Youth Futures Foundation passes its “fit and proper’ test, independently assessed by a panel made up of representatives from DCMS and the National Lottery Community Fund and receives its dormant assets endowment from the Reclaim Fund.
The organisation is led by founding Chair Joe Montgomery, a diverse Non Executive Board of subject matter experts with a broad range of lived experience, CEO Anna Smee and a small team of dedicated staff.
- Youth Futures Foundation is set-up to deploy the £90m from dormant assets allocated to helping disadvantaged young people into work. What are dormant assets? Read more in our FAQs >
We are grateful for the support of the National Lottery Community Fund, Department of Digital, Culture, Media & Sport, and the wider youth sector for their contribution in the lead up to our establishment.
- The Government announces that a new organisation, with the ability and remit to set its own strategy, will be established.
- An extensive consultation takes place to determine how best to spend the dormant asset funding. Preparatory work takes place with young people and grassroots youth organisations across England. These stories and ideas from young people facing multiple barriers to employment and training highlighted not only the scale of the challenge they face but also the potential for impact where services and funders work together innovatively.
- The Government announces it will allocate £280m to initiatives across England to grow social investment, help disadvantaged young people into work, and increase financial inclusion.
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The chancellor, Rishi Sunak, has announced a new Job Support Scheme, to start in November, replacing the ‘furlough scheme’.
Board member Alex Morawski talks to Channel 4 News about the challenges of looking for work for young people.
We’re calling on policymakers to act now to prevent record levels of unemployed young people after furlough ends.