An historic educational grantmaker valued at £5.3m has closed and transferred its assets to a community foundation.
The Bishop Fox Educational Foundation (BFEF), whose history can be traced back more than 500 years, has passed stewardship of its assets to the local Somerset Community Foundation (SCF), the latter charity announced today.
BFEF, which supports people aged 11 to 25 in Taunton, has awarded grants since 1991 and generated its £5.3bn funds from the lease and sale of two former school buildings.
SCF, a community-focused charity which awards more than £4m funding annually, has facilitated the transfer of 26 charitable trusts worth almost £10.5m.
Jane Barrie, BFEF chair, welcomed the transfer after working with SCF for the last three years in Somerset to administer grants.
“We’re incredibly proud of the difference BFEF has made so far and […] feel confident it’s in safe hands,” she said.
“Over the past 35 years, it has awarded funding to thousands of young people pursuing their ambitions in education, the arts, sport and employment.”
SCF, which relies on donations and legacies and has 10 trustees, took in £6.69m in the most recent financial year, and welcomed the merger with BCEF.
Justin Sargent, SCF chief executive, said it was a “great privilege” to be entrusted with leading BFEF.
“Funds like this play a vital role in supporting social mobility and increasing opportunity in Somerset.
“As a community foundation, one of our most important roles is to provide a safe, long-term home for Somerset’s philanthropic assets and direct funding to where it can have the greatest impact.
“By working closely with partners and fundholders, we can help strengthen and join up the local funding system for the benefit of local communities,” Sergeant added.
Financial picture at foundations
BFEF traces its origins back to Bishop Fox’s School, originally endowed by Richard Foxe, the bishop of Winchester, in 1522.
After a new Bishop Fox’s School was built in 1940, the charity leased then sold the former buildings to create a fund, the annual income from which provides the grants.
In 1991, the charity was re-established as BFEF.
In the year ending 31 March 2025, BFEF’s total expenditure of £222,000 surpassed its income of £179,000.
Income at the funder was below expenditure in the last three financial years, data shows.
Larger charity SCF’s total income in the year to March 2025 of £5.56m was above its expenditure of £5.13m.
This came after a five-year low in SCF’s income, which fell from £5.78m in 2022-23 to £3.9m in 2023-24.
