Produced annually to detail our work and finance.
What is UnLtd?
UnLtd is the Foundation for Social Entrepreneurs, a UK registered charity set up in 2002.
We want a future where enterprising people are transforming our world for good. We call these people social entrepreneurs. We find social entrepreneurs with bold solutions to today’s challenges. Through funding and support, we help them to realise their potential and create lasting change.
What is UnLtd’s purpose?
A future where enterprising people are transforming our world for good.
Who does UnLtd support?
We support enterprising people who are transforming our world for good. We call these people social entrepreneurs and we support them at every stage of their journey.
Social entrepreneurs come from all kinds of backgrounds and are seeking to deliver social solutions in many different ways. Whatever their background, one thing unites them, a passion to solve a social problem, and an entrepreneurial flair to make it happen.
Where does UnLtd work?
UnLtd works across the UK, supporting social entrepreneurs directly, as well as working with partners to back them. Although we don’t do direct international work, we are the founder member of the Global Social Entrepreneurship Network, an international knowledge sharing network of agencies that support early stage social entrepreneurs.
Who does UnLtd work with?
UnLtd works directly with social entrepreneurs, and also partners with a wide variety of people and organisations to help find, fund and support social entrepreneurs.
We have a number of partners who fund our work to either directly support social entrepreneurs, or to work with other supporters of social entrepreneurs.
We also have a number of strategic partnerships with organisations that share similar goals, for example the Social Economy Alliance on our policy work.
Why does UnLtd support social entrepreneurs to create profit with purpose businesses?
UnLtd backs the individuals – the social entrepreneurs themselves – and their own approaches to delivering social impact.
In some instances we work with social entrepreneurs to use mission locks to ensure that their social ventures remain true to their social mission and continue to deliver social impact.
How is UnLtd run?
UnLtd has a dedicated Board of Trustees who have governance oversight of UnLtd as an organisation, and the continuing management of the Millennium Awards Trust, with legal oversight from a government-appointed Protector who is a leading lawyer.
The Senior Management Team consists of the Chief Executive and five directors who are responsible for the day-to-day management of the organisation. We have a brilliant team of staff who support social entrepreneurs, support our partners to support social entrepreneurs, as well as provide central services so that it all works smoothly. Meet our team and our board.
How are we resourced?
UnLtd is committed to ensuring social entrepreneurs get the resources and support they need to help them start and thrive. As a foundation, UnLtd oversees a £150m endowment called the Millennium Awards Trust.
The interest raised from this endowment is used to fund UnLtd’s work to help social entrepreneurs in the UK. This can only reach a small proportion of the people who want to start up as social entrepreneurs, so Unltd raises additional funds for social entrepreneurs from a range of trusts, foundations, institutions and corporates.
How are the MAT funds invested?
The Board of UnLtd, in its capacity as Trustee of the Millennium Awards Trust, is responsible for the investment of the endowment. We delegate to an expert investment committee the tasks of advising us on the full range of investment issues including policy, strategy, the appointment and monitoring of professional advisers, and the monitoring of performance.
We invest so as to meet the various different objectives of the Trust Deed. In practice, this involves investing across a number of different asset classes, balancing expected return, volatility, income and operational considerations.
We review strategic asset allocation formally every five years, as part of an overall investment review. Our asset allocation aims to provide an optimum balance between stable income – necessary to meet UnLtd’s operational needs – and meeting objectives stipulated in the Trust Deed of seeking to maximise financial returns and whilst also seeking to maintain the real value of the endowment. More information on our investment approach can be found in our Annual Report and Accounts.