2023-26 Investment Programme: Budget confirmation and application figures
We have received a total of 1,730 applications, requesting just over £2 billion over the three-year investment period.
2023-26 Investment Programme: Budget confirmation and application figures
This record-breaking number of applications is more than double the number of NPOs we currently invest in and makes this our most over-subscribed investment round to date. Take a look at the following headlines for more information, including confirmation of our available budget for the NPO and IPSO programmes:
NPO*
£428 million
1,655
£655 million
IPSO
£8.2 million
67
£17.5 million
*This includes budget for the Transfer programme.
**The ‘average annual budget applied for’ figure includes uplifts requested by current NPOs.
These figures represent our total applications received. There may be variance from now to October factoring any withdrawals or ineligible applications across the process.
For comparison, our 2022/23 portfolio budget is £416 million for 828 organisations.
What does this mean?
What does this mean?
This programme will be particularly competitive and it is likely that we will be unable to fund many good applications, including from those organisations currently in the National Portfolio, as well as those that are not.
We have a particularly high volume of applications based in London, where we will be reducing our investment, as set out in Government’s instruction to us following the Levelling Up White Paper’s publication. Although our investment will reduce in London, it will still be guided by the outcomes laid out in our strategy for 2020-2030, Let’s Create.
We will have to make tough decisions both in London and the rest of the country if we are going to deliver on Let’s Create, and support Government’s priorities around levelling up. We will work hard to select a portfolio that delivers high quality creative and cultural experiences for people across the whole country, including investing in organisations that open up access to underserved communities and that reflect the diversity we celebrate across the country.
What's next?
What’s next?
We’re assessing applications right now and we’ll then go into balancing and decision making in September and October.
Final decisions will be made by our Area and National Councils, and we’re planning to communicate our decisions on Friday 4 November 2022. See the timeline >
We have also released information about the Transition Programme. This will specifically be open to organisations who are currently in our National Portfolio, but whose applications to the 2023-26 Investment Programme as an NPO or IPSO are unsuccessful. Guidance on this programme can be found here.
We remind London-based applicants have until Monday 18 July to confirm to us whether they wish to opt in and be considered as part of the Transfer Programme. More information can be found here.