Office for Civil Society

The office manages several capital pools including the Dormant Assets Scheme, which redirects money from forgotten bank and building society accounts, and the National Lottery Community Fund. It also administers the Social Outcomes Fund for outcomes-based commissioning and the Tampon Tax Fund, which allocates proceeds from VAT on sanitary products to women's charities. These funds are distributed as grants, social impact bonds, and other catalytic finance structures.

The function originally resided within the Cabinet Office but now operates as the Civil Society and Youth Directorate under the Department for Culture, Media and Sport (DCMS). This structural shift moved the office's mandate into a department with direct oversight of sectors including charities and civil society. The unit continues to work closely with associated bodies such as the Big Society Trust.

The office primarily operates through intermediary bodies and structured funds rather than making direct investments itself. For example, the National Lottery Community Fund and the Social Outcomes Fund are delivered by arm's-length bodies and commissioned partners. This intermediary model allows the office to set policy priorities while specialist organizations handle origination, due diligence, and portfolio management.

Social impact is the primary objective, though certain instruments like social impact bonds link payments to measurable outcomes. The capital comes from statutory levies and dormant assets, not from investors seeking financial returns, so the office's mandate is to maximize public benefit rather than generate profit. Some vehicles may recycle capital when loans are repaid, but the overriding mission is grant-making and catalytic funding.

Yes. The Dormant Assets Scheme continues to expand, with the government consulting on broadening the eligible asset classes. In May 2026, the office also launched a partnership with businesses in the West Midlands to fund employment pathways for care leavers and ex-offenders, indicating ongoing deployment into both national programs and regionally targeted initiatives.