Governance

We were set up in February 2019 with an initial allocation of £90 million of dormant asset funding  from the UK Government. This was followed by a further allocation of £20m in 2023 and £15.35m in 2024.  

Spending of dormant assets funding in England needs to meet expenditure with a social or environmental purpose  

This means we have a duty to be open, transparent and accountable for our performance and our use of public money. 

What are dormant assets? 

In the UK, the Dormant Assets Scheme aims to reunite people with their financial assets.  

Where this is not possible, the Dormant Bank and Building Society Accounts Act (2008) enables banks and building societies to voluntarily transfer money held in dormant accounts to the scheme’s administrator, Reclaim Fund Ltd. 

The money goes towards social and environmental initiatives across the UK.

The Dormant Assets Act 2022 expanded the scope of the Scheme to include assets from the insurance and pensions, investment and wealth management, and securities sectors. 

We were established in February 2019 in response to the UK government’s commitment to support young people furthest from the labour market into employment.

We are a company limited by guarantee.

Our Board is independent from government and is responsible for our governance, strategy, policies and ensuring that we deliver our vision, mission and impact. 

Our sole member is The Oversight Trust whose role is to oversee us, ensuring that we are properly governed, remain true to our objectives and that we are delivering social impact. 

Collectively, our Board sets our strategic objectives and monitors our progress against these, ensuring the effective use of our dormant asset funding to deliver impact for marginalised young people in securing and thriving in good work. 

Our Board comprises non-executive Directors who are recruited based on a thorough skills and diversity assessment using open recruitment. 

We are extremely lucky to have a Board which brings a wealth of skills, expertise and experience, including lived experience of the issues that we are here to address. 

We are proud to ensure that youth voice is an integral element of our governance with two Directors under the age of 25 on our Board.

Meet the Board

We have three formal governance committees, made up of board members and external committee members:

1. Audit, Finance & Risk Committee This oversees, on behalf of the Board, all financial and audit matters that have an impact on Youth Futures’ ability to meet its objectives.It provides assurance and recommendations to the Board as well as advice, guidance and insight to Youth Futures Management on matters within its remit.

   Chaired by Carla Rossini

   Members include: Kris Murali, Guy Goodwin, Melanie Montanari and Robert Welch (external committee member)

2. People & Governance Committee This oversees, on behalf of the Board, those matters that have an impact on Youth Futures ability to meet its objectives in relation to people and organisational culture, remuneration, safeguarding, health and safety and governance.

   Chaired by Ruth Busby

   Members include: Veda Harrison, Neil Morrison, Jess Evans and Claire Camara (external committee member)

3. Grants & Evaluation Committee This oversees, on behalf of the Board, the strategic development and delivery of Youth Futures programme portfolio in accordance with our objects and strategic priorities, as well as the Grant Making and Evaluation Approach, as set by the Board.

   Chaired by Jenny North

   Members include: Seyi Obakin, Barry Fletcher (Youth Futures Foundation CEO), George Greeves, Fiona Aldridge, and external committee members Sufina Ahmad, Joel Davis, Peter Wells, and Steph Taylor

Meet the external committee members.