What is the Reach Fund?
The Reach Fund is a grant programme that helps charities and social enterprises raise investment. The programme is funded by Access – The Foundation for Social Investment and is open to organisations in England.
Social investors are often approached by charities and social enterprises who require extra support to raise investment.
Through this programme, social investors can refer these organisations to the Reach Fund to apply for grants to pay for the support they need. Over £3m of grants have been awarded to date, and a further £7m funding will be available; you can apply for grants of around £15,000.
How can I apply?
After being referred to the Reach Fund by your social investor you will be asked to register on this website and complete a diagnostic tool. This will then be used to help decide whether you should proceed to a full grant application.
If you are approved to apply, you will then work with your social investor to develop a support plan and apply for a grant. If your grant application is then successful you can use this funding to pay for the support you need.
The application process is explained in further detail here.
Why the fund is designed this way
Many charities and social enterprises require extra support in areas such as governance, financial modelling or business planning in order to gain investment
One of the reasons that Access was setup was to develop capacity building programmes that could help more charities and social enterprises take on social investment. The Reach Fund was one of the first programmes they funded.
What types of organisations are eligible for support?
There is no requirement for organisations to be a particular legal form in order to apply. However, to be an eligible social enterprise and able to apply to the Reach Fund, organisations need to
- Have a clear social mission
- Distribute less than 50% of post-tax profits and reinvest at least 515% of surpluses into pursuing their social mission, and
- have a constitutional or contractual lock on their social mission, dividend and surplus distribution policy (also known as an asset lock).