AGM 2026: Carol Mack’s speech
2 July 2026
At ACF's AGM on 1 July 2026, CEO Carol Mack reflected on the challenges and achievements of the past year, outlined how ACF is evolving to support members, and set out the organisation's priorities for the year ahead. This is her speech.
I know how busy this time of year can be – and yet, you’ve chosen to turn out, in-person and online – that says something important about this community. So thank you.
For those of you who are newer to ACF, let me briefly introduce us.
We are the Association of Charitable Foundations. We are a charity – and our purpose is to support you to rise to the challenges of our time.
In our current strategy, we have four overarching objectives:
- Supporting excellent foundation practice
- Strengthening connections across and beyond the sector – fostering collaboration
- Advancing diversity, equity and inclusion for our sector and for ACF – being the change we want to see
- Our advocacy work – sustaining a policy and regulatory landscape where foundations can thrive.
But most importantly – front and centre – we are a membership association.
We exist to connect, support and influence on behalf of foundations like yours and the brilliant and diverse work that you do – and everything you’ll hear today sits within that core mission.
Reflecting on 2025
Let me start with the year just gone. As our chair has set out so eloquently, 2025 was, by any measure, a demanding year.
It was challenging for the people, causes, communities and organisations you support – and, in a different way, it was challenging for you as funders.
You experienced a rising need for your support – compounded by a growing volume of funding applications powered by AI – while your resources remained constrained and scrutiny increased for many of you. And throughout all of that, you continued to show up, to fund, to support and to lead.
Our role at ACF has been to stand alongside you.
We connected you – through our networks, events and digital communities.
We supported you – with practical tools, insight, and guidance.
And we influenced – ensuring your voice was heard in the rooms where decisions are made.
But I want to pause for a moment – and just reflect on what that actually looked like in practice. Because it was significant.
Across the year, over 100 members joined our learning sessions on areas like AI and navigating the media spotlight – topics that are only becoming more critical.
We introduced new, bite-sized guides to good foundation practice, helping you act – not just reflect – and building on our Stronger Foundations resources that you created with us.
We brought together chairs and trustees from member foundations in both April and September.
And in November, over 300 of you came together at a sold-out conference, focused on how foundations stay resilient and future-ready.
Our Funder Network community went from strength to strength, a Q&A space where you can tap into the collective expertise of your peers - now with almost 1,500 users.
We strengthened the evidence base on foundations – through benchmarking reports, sector insights, and new research, including the first comprehensive update on the diversity of foundation boards in seven years – and we worked with sector partners on UKGrantmaking – the definitive annual publication on grant funding in the UK.
Through our online Funders Collaborative Hub, we supported more than 220 collaboration opportunities, helping funders find each other and work more effectively together.
And more than ever, we ensured your voice was heard where it matters – with the Westminster government – including at number 10 – with the charity regulators, with the sector – and mainstream – media, and online.
That influence led to tangible outcomes – including securing changes to the Renters’ Rights Act, removing unnecessary burdens – both administrative and financial – on those of you who hold residential property in your investment portfolio.
We also helped shape the future of UK charity reporting through the Statement of Recommended Accounting Practice (SORP) and supported members to navigate those changes in our most well-attended online session of the year. If you missed that workshop there will be a session at our conference on 25 November, involving the Charity Commission, and focusing on the new impact reporting requirements of the SORP from the unique perspective of foundations – where you are often funding, rather than delivering charitable activity directly, which poses its own particular reporting challenges.
So – when we talk about "connect, support and influence"… this is what we mean.
At the same time, internally, we had to take some difficult decisions. For the second year running, ACF’s costs grew faster than membership income, and member numbers fell. So we undertook a necessary restructure. We reduced our headcount. And in doing that we prioritised the roles that enabled us to continue to support you.
It was not easy – but it was important.
And we came into 2026 leaner, clearer, and determined to focus on where we add value and have most impact for you.
Evolving our member offer
Which brings me to our member offer – a bit of jargon for the services and support we offer to you, our members.
The truth is, there is no “perfect” offer that stays fixed. The right offer moves. It evolves as your needs evolve.
And right now, we are listening carefully to you and reshaping our approach – so we can deliver the strongest possible offer to members and ensure that we channel our resources into the areas that matter most to you.
What we know works
First, what we know works – and that will remain.
The sense of community that ACF creates. Those moments – at conference, in networks, in smaller conversations – where you are in a room – whether virtual or in person – with people who simply get it. Who don’t need the context explained. Who are facing the same questions you are.
That is rare. And it matters. And we will continue to invest in it.
Second – our learning and development programme. Consistently rated by you as one of the most valued parts of membership.
From investment strategy, grant-making to governance – written resources and events – all grounded in the specific context of trusts and foundations – we offer sessions that are practical, relevant, and benefit the whole team; staff and trustees.
This remains a core priority. We recognise that our programme needs a bit of an overhaul and we’re doing a big review of how it can evolve to meet what you need in 2027 and beyond – both the content and the way in which we deliver it – and we want to hear your views.
What we are building
We have a growing list of things members have told us they need and we are beginning to bring those to life.
There are some exciting developments in incubation – we want to create a mentoring offer, connecting new and established foundation professionals across different roles; grant-making, investments, communications and policy.
We’re exploring a new network specifically for finance and investment people in mid-size foundations – a space to connect with peers facing the same issues.
As I mentioned, we’re enhancing our learning and development programme and considering how we can offer more sector insight; more analysis like our valued annual salary benchmarking report and more access to what’s happening in relevant practice elsewhere in the world.
And we will be developing our commercial partnership programme – broadening and leaning into those relationships to bring you richer insights and connections than ACF can offer alone.
Being honest about choices
But – and this is important – we cannot do everything. And doing some things well means doing other things differently – or not at all. You know this – it’s true for all of us.
So we are being deliberate in our choices; sequencing thoughtfully, planning with intent and focusing our efforts where they can have the greatest impact.
Your voice in shaping this
And that’s where you come in. This year we’re taking a different approach to our annual member survey with pro bono support from nfpResearch. It goes deeper – not just what you use, but what you need and where the gaps are. The survey research will shape not just what we do – but when we do it.
So please, take the time to complete it and share it with your colleagues. We estimate it will take about 15 minutes to complete.
And today – come and talk to me. Talk to the ACF team – staff and trustees in the room and online.
Because this is not something we want to design for you. It is something we want to shape with you.
I won't pretend that changing doesn’t mean letting go of things, even things that have served us well. But I firmly believe that a sharper offer – even if it is a slightly smaller one – will serve you better than one that tries to be everything.
A sharper ACF
So where will this leave us? With a clearer direction. A sharper, more focused ACF.
One that delivers the insight you need – when you need it.
One that makes it easier to access what matters.
One that prioritises quality over volume.
You’ll see that in improvements to our website, in how we organise content, and in how we deliver our programmes.
And you’ll see continued focus on the areas you’ve told us matter most to you.
Thank you
Before I close, I want to say some thank yous.
To our commercial partners for sharing your insights and expertise with our members. Including in this room tonight – thank you for being here.
To our board – all of whom are members - for steering us through some difficult decisions over the last 12 months with wisdom and courage.
And to the many members who give their time – I counted everyone listed in the annual report as serving on steering groups, or convening networks, and in 2025 that amounted to more than 10% of our membership actively contributing to this community. That is quite extraordinary.
Special thanks must go to my team – for navigating a challenging year with resilience and commitment – and without whom none of this would be possible.
And most of all – thank you to all of you here tonight supporting this important governance moment.
ACF exists because of you. And together, you are responding to some of the most complex challenges of our time.
It is our privilege to support you in that work.
Thank you.