UK’s Lankelly Chase foundation to wind down, redistribute $236M within 5 years
Why It Matters
In Canada and abroad, philanthropic activists have called on foundations to redistribute their assets to equity-seeking groups through asset transfers and spend downs. Lankelly Chase foundation’s announcement is one of the boldest responses yet.
On Monday, a large UK foundation announced that it will close its doors, redistributing £138 million, or about $236 million, to support social justice within five years.
In a press release, the Lankelly Chase foundation said the move was spurred by a recognition of the scope of the social, climate and global crises the world faces and a belief that the traditional philanthropic model is “so entangled with colonial capitalism” that it “continues the harms of the past and present.”
“We acknowledge our role in maintaining this traditional model and know that these times demand bold action from us all in charitable organisations. This is our response,” the foundation said.
Lankelly Chase said it will redistribute its resources to support communities “who are subject to oppression” and engage in social justice work. The foundation said it
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