1. Delivery Plan July 2015- March 2016 Bridging the gap between smaller charities & social enterprises, and social investors

2. Overview This plan covers the period 1 July 2015 – 31 March 2016 (after which point our plans will run concurrently with the financial year) There are four key themes to our work over the following nine months: 1.Delivering the first rounds of funding from the Growth Fund and building the pipeline 2.Consulting widely on the objectives for and the design of the capacity building grant programme; 3.Defining our role as a market development champion; and 4.Developing our long-term investment plan for managing our endowment as part of a total impact approach across all our activities. Plus three further enablers which underpin our work These areas will develop following the stakeholder consultation exercise to begin in Q1. All acronyms used below are explained in this glossary.glossary N.B. All links in this document will only work when viewed as a slide show.

3. Our Mission: Bridging the gap between smaller charities & social enterprises, and social investors Deliver the first year of the Growth Fund to provide more of the right sort of finance for smaller charities and social enterprises, and capture initial learning about how to blend loans and grants Consult on the design of our capacity building programme and identify obvious gaps in provision, tender for first programmes to be delivered in early 2016 Develop our role as a market development champion, provide clear information to Charities and Social Enterprises about our role, share data on our performance and impact, and build partnerships which will deliver value In 2015-16 we will While building strong foundations Share lessons and advice from adopting a ‘Total Impact’ approach across all our activities. Recruit a great team and support the board and committees to perform and make the best decisions Develop effective, efficient and proportionate systems, processes and infrastructure Build our strategy for the future This plan sits in the context of our overall strategy 1 2 3 4

4. Our plan for delivering the first year of the Growth Fund Where we are now: Fund opened in May 2015 June JIC meeting considered two applications, blog published on outcomes of the meeting 12 EoIs received to date, seven applications invited Drafting of investment manual underway Where we want to be by March 2016: Lending from SIFIs into charities and social enterprises is well underway Partnerships formed bringing together strong sector networks with lending experience are expanding reach of social investment Data being gathered from our programmes is testing the use of subsidy and the theory underpinning the Growth Fund Against these milestones: Q1: July to September July JIC to consider three first round proposals Tools to support the development of partnerships are uploaded and research started to better understand the potential pipeline Applications which include the maximum grant amount due at the end of August for consideration at the September JIC Recruit permanent investment manager role Begin the design of the evaluation of the Growth Fund All application materials finalised Q2: October to December Series of major conferences with key networks to promote the opportunity to apply for the Growth Fund All template offer documentation finalised Permanent investment manager takes up post Ambition for the first investment to be confirmed at October JIC Data systems are fully functional JIC meetings in November Q3: January to March JIC meetings continue to make awards Data shared and blogs on progress Annual report explains progress made on delivery of the Growth Fund How we will get there: While considering these issues: Encouraging the highest standards of customer service for charities and social enterprises applying to SIFIs, with jargon free, straightforward processes, and with simple products Learning about different uses of subsidy to encourage lending under £150k and greater social impact Supporting new operating models in SIFIs and encouraging efficiency Supporting sector support organisations and networks to play a role in delivering the Growth Fund, including Federal charities and infrastructure organisations. Supporting transparency and data sharing at all levels to evidence the social and financial impact of the Growth Fund. How many other Foundations would consider a blended capital approach, and how can the learning from the Growth Fund support them to make a start? In five stages: 1.Develop the pipeline, including through reaching out to organisations with strong sector networks, and support partnership development for applicants 2.Finalise the application process and materials, including EDA and State Aid guidance for SIFIs 3.Finalise grant offer and loan offer documentation 4.Develop framework for evaluation and learning 5.Develop systems to manage reporting and data gathering 1 Click here for more details on the aims and objectives of the Growth Fund.here

5. Our plan for capacity building grant making Where we are now: Mandate agreed with Cabinet Office in grant agreement First £36m received from Cabinet Office Appointment made to Strategy and Policy Manager role First strategic conversations held with the Access board Where we want to be by March 2016: Long term theory of change and vision for Access’s Capacity Building Work is fully developed Medium and short term priorities and gaps are mapped, and programmes to meet those goals are designed First programmes are open and providing support for Social Sector Orgs (SSOs) Against these milestones: Q1: July to September Strategy and Policy Manager (SPM) takes up post Access Board defines the overall objectives of the Access’s capacity building work and scopes key issues for consultation at away-day SPM undertakes meetings with key sector stakeholders (CO, SIFIs, trusts and foundations etc) to further refine scope of consultation Full consultation with SSOs under way to identify priorities for short and medium term programmes, variety of media to be used with a programme of events developed with partner networks Q2: October to December Consultation exercise concludes. Outcomes are published on the Access website and widely shared with stakeholders Approach to selecting delivery partners developed and agreed with CO Metrics and KPIs for assessing achievement against initial programmes developed Selection process for partners to deliver initial programmes begun Q3: January to March Selection process for partners to deliver initial programmes concluded Set up of initial programmes Initial programmes launched and support to SSOs begins How we will get there: While considering these issues: Understanding other programmes, ensuring that we avoid duplication and add value How our programmes inspire SSOs as well as develop their skills How we link investment readiness support to the markets which SSOs are actually operating in, and how those markets are changing How we design a procurement process which allows for co-design of programmes How we segment and prioritise which SSOs to support How we link our capacity building work to the Growth Fund? How we embed learning in all our programmes, over the 10 years they will be running. In five stages: 1.Develop vision and theory of change for Access’s capacity building work – Access Board 2.Develop and manage consultation on medium and short term priorities – SPM 3.Use consultation results to design programmes and process for selecting delivery partners – SPM 4.Select delivery partners – SPM with Access Board 5.Programme set-up and delivery begins – Partners 2

6. Our plan for acting as a market development champion Where we are now: Profile established after the launch event Website active and growing distribution list for newsletters Strategy and Policy Manager (SPM) appointed Where we want to be by March 2016: Clear priorities for supporting SSOs looking to take on social investment Perception from SSOs that we are supporting their investment readiness needs and not using jargon Growing reputation for quality research and data, and established profile as Market Development champion (MDC) Against these milestones: Q1: July to September CEO and SPM undertake meetings with key sector stakeholders (CO, SIFIs, trusts and foundations etc) to build relationships Priorities for our MDC role, including key priorities for research, identified as part of capacity building consultation with SSOs. Key communications channels are established Access Chair takes up role on the board of Big Society Trust Q2: October to December Initial Consultation phase concludes. Outcomes are published on the Access website and widely shared with stakeholders, including research priorities Agree on full communications strategy Embed data sharing and customer satisfaction requirements into first round of Growth Fund investment agreements, and into the process for selecting Grant Administrators Publish initial research Q3: January to March Publish further research Hold AGM and widely publicise learnings from the first year of operations How we will get there: While actively working to be: A reliable source of advice, particularly for the Big Society Trust; Consultative, not just in a designated ‘consultation phase’, but throughout all of our activities; Collaborative, seeking out opportunities to bring partnerships together to achieve greater impact; Transparent, both in the way we prioritise our activities, and report on their delivery; Data-driven, developing reporting processes which are proportionate and meaningful for SSOs, and provide sufficient evidence of impact for SIFIs, ourselves and our other partners. Focused on sharing and learning, within our own direct network of partners, across the social investment sector and externally, advocating for new people and organisations to get involved. In three stages: 1.As part of our capacity building consultation activities, identify priorities for MDC work and share with stakeholders. 2.Factor these priorities into our research, data collection and data sharing activities, to ensure an effective use of our resources. 3.Develop low cost and efficient communications channels which encourage discussion and debate while supporting the needs of SSOs. 3

7. Our plan for a total impact approach Where we are now: Grant-making: principles and progress outlined above (slide 4) Endowment: First £36m received, funds currently held on short term deposit while plan is developed: Endowment Working Group (EWG) formed and timetable for action developed Our total impact approach will apply to all our supply chain, from IT equipment to where we print our business cards. Where we want to be by March 2016: Grant-making: delivery programmes open as outlined above (slide 4) Endowment: Long term investment approach agreed and in place, with clear impact strategy, funds under management with fund manager(s) List of examples of supply chain policy shared on our website with commentary. Clear communications strategy and networks with other foundations in place to share learning Against these milestones: Q1: July to September Board to set grant spend profile Detailed endowment model to be developed by Finance and Operations Manager (FOM) with support from EWG Impact Strategy for endowment management to be developed by CEO with support from EWG EWG to develop asset allocation plan against the financial model EWG to identify asset managers who can support the development of an overall endowment management strategy Monthly updates provided through the Access team blog and other media Q2: October to December Hold roundtable with foundations to share learning about our process Funds transferred to Asset manager(s) Investments monitored on at least quarterly basis Q3: January to March Investments monitored on at least quarterly basis Hold roundtable with foundations to share learning about our process Monthly updates provided through the Access team blog and other media Focussing on managing our endowment, how we will get there: While considering these issues: Other foundations in the UK and overseas have much learning to share Our approach must be one which other charities and foundations can benefit from, therefore we will work with external partners as much as possible In order to influence thinking and practice as widely as possible, we will publicise the full range of our ‘total impact’ activities, some of which could be adopted by anyone in our network, whether they are an SSO, an endowed Foundation or colleagues in Cabinet Office. We will monitor progress on managing our endowment alongside other activity to ensure maximum impact across all our work. In three stages: 1.Develop our endowment model, providing us with the cash we need to make grants over the life of the endowment, with a clear impact strategy 2.Engage the asset management market and identify who can provide these services for us 3.Allocate funds to those asset managers and monitor our investments closely 4

8. Glossary of Acronyms AcronymDescription JIC Joint Investment Committee: a group of representatives from Big Society Capital, Big Lottery Fund and the Access board, who collectively approve deals for our Growth Fund. EOI Expression of Interest: the first stage of an application to the Growth Fund. SIFI Social Investment Finance Intermediary: an organisation which makes loans to social organisations. The Growth Fund will make deals with SIFIs to distribute loans of £150K or below. EDA External Delegation Agreement – an agreement between the Big Lottery Fund and all Growth Fund SIFIs, which will allow them to make funding decisions on the recipients of any lottery funds, as an external delegate: they must be specifically given this power to distribute National Lottery funding. SSO Social Sector Organisation: see here to view our eligibility criteria for the Growth Fund, which gives details of regulated and unregulated SSOs.here EWG Endowment Working Group: the group developing our approach to managing the £60M endowment to maximise social impact, balanced against the flexibility required to spend out the fund as grants. See this blog post for more details.blog post MDC Market Development Champion SPM Strategy and Policy Manger FOM Finance and Operations Manager Back to top