The Wates Family Charities (the Wates Foundation & the Wates Family Enterprise Trust) owe their existence to generations of the Wates Family putting into effect their desire to be a force for good.
In this case, to focus and catalyse the efforts of family members and employees to support the charitable causes they believe in.
Jerry Wright, Director of Wates Family Charities, tells us more:
"The Wates Group, founded in the 1890's, is now one of the UK’s leading family-owned construction companies. It looks to make a positive impact on the communities where its people live and work, has an award-winning sustainability strategy and has made a commitment to support and grow the social enterprise sector.
“The Wates Foundation was set up in 1966 and now enables the widest possible group of family members to make grants to smaller, often local charities with which they have a personal connection. The Wates Family Enterprise Trust was founded in 2008 by the Family shareholders to focus and energise charitable activities from across the Wates Group of companies and their people.
“From the beginning, The Wates Foundation has always been keen to support new ideas, innovations and developments within the charity sector, so were an early adopter of social investments. We were one of Charity Bank’s founder shareholders and fully support its mission and what it’s aiming to achieve."
“The Wates Family Enterprise Trust needed somewhere to hold its reserves. Charity Bank is secure, well-established and uses our deposit to increase the support available for charities and social enterprises. Through Charity Bank, we can use the funds we have at our disposal to maximise our impact and increase the scope of our philanthropy beyond just our grant-making. If we held the money with a traditional bank, it just wouldn’t have that kind of additional impact.
“Our trustees are pleased to see that we’re supporting something that’s actively doing good, while keeping our funds safe and secure.”
Last reviewed: 25/02/2022
Charity Bank is the loans and savings bank owned by and committed to supporting the social sector. Since 2002, we have used our savers’ money to make more than 1100 loans totalling over £400m to housing, education, social care, community and other social purpose organisations.
Nothing in this article constitutes an invitation to engage in investment activity nor is it advice or a recommendation and professional advice should be taken before any course of action is pursued.