After nearly ten years at the helm, our Chief Executive Officer Susan Kay is retiring at the end of the year. Katy Saunders, Executive Director at Social Finance, has been appointed as her successor, and the two will work alongside each other throughout December. In this first of a four-part conversation series, Sue (SK) and Katy (KS) discuss change. In particular, the ways in which the Vivensa Foundation has evolved and how we plan to press on with our mission.
The Dunhill Medical Trust became the Vivensa Foundation in April this year. Tell us more.
SK: After 37 years as The Dunhill Medical Trust, we decided to change our name to the Vivensa Foundation. The decision was not taken lightly. We wanted a name that better reflects our work as both a funder and an impact-intentional investor.
Our original endowment came from wealth derived from our benefactor’s directorship of a business that made substantial profits from tobacco. This was understandably problematic for an organisation focused on health-related research. We were frequently told that our name was unhelpful and off-putting to those who might benefit from our funding. The time had come for a new chapter.
The trusts and foundations sector has seen some changes in the recent past. What impact has this had on our organisation and mission?
SK: Our experience demonstrates why trusts and foundations can’t separate their grant-making decisions from their investment decisions. Your actions, values and reputation directly impact your ability to deliver your mission. While every family trust or foundation is unique, a number share similar elements in their financial and governance history that in the 21st century feel uncomfortable.
In 2022, with lots of charitable organisations becoming more conscious of their sources of wealth and wishing to take more thoughtful and responsible approaches to their investments, the Butler-Sloss and Others v Charity Commission case was brought by two of the Sainsbury Family charities to clarify some earlier case law. This judgement confirmed that trustees have considerably wider scope than just financial return in determining a suitable investment policy for their charities. This strengthened our resolve to ensure that we were using our endowment to do more for our mission.
What have been the biggest changes in the past five to ten years?
SK: In 2020, we published our first ever Strategic Framework – and we’ve just refreshed this for 2025. It gave us the opportunity to clarify what we’re for, who we’re for and how we go about our work. The floorboards had started to creak under the increasing weight of applications for our support. Our internal systems and processes needed a radical overhaul.
We spent time researching and discussing which were the underfunded and under-addressed areas in ageing-related research and innovation. And equally importantly, what kind of funder we wanted to be. What emerged were some clear, but flexible, themes and a set of principles and values which we try and apply to all that we do. Oh – and there are more of us! I’m blessed to have a team of fantastically thoughtful and committed colleagues who embody those values. We’ve just published our review of the last five years, which you can read here.
How important is having a values-driven mission?
KS: Having a values-driven mission is absolutely vital. What excites me about Vivensa is that its values – being responsive, inclusive, trustworthy, collaborative, intentional, and taking the long view – are not just words on paper. They are lived out in the way funding decisions are made and partnerships are built. And also in the trust the organisation has earned across the sector.
For me personally, those values align perfectly with how I have always tried to work. I believe real change only happens when you respond to what people say they need, when you collaborate across sectors, and when you build partnerships that are strong enough to take bold ideas from research into practice.
That’s why I’m so excited to be joining the Vivensa Foundation. It not only funds outstanding research but also works in a way that reflects the principles I care about most. I’m looking forward to carrying those values forward into the next chapter.
Why do you place such a strong emphasis on collaboration?
SK: What’s the African proverb… ‘If you want to walk fast, walk alone. If you want to walk far, walk together’ ?
Collaboration helps you to manage risk, get more bang for your buck, access expertise and tools you might not have and creates space for you to learn – safely. It doesn’t mean it’s easy, but if you put the effort in, you can make more progress than going it alone. Sometimes progress has felt slow, but it’s not until you reach the destination that you can see how far you’ve come. That’s how I feel at the moment. There’s a lot to be said for an evolutionary rather than a revolutionary approach. I know there’s SO much more that can be done. And I know that Katy is the person to do it!
KS: Collaboration is where the magic happens. When we combine evidence, ideas and trust, the result is so much greater than the sum of its parts. It’s how bold ideas turn into practical change – and how we make sure the research we fund doesn’t just sit on a shelf, but genuinely improves lives.
We have just published our Strategic Framework – a review of the plan period 2020-25, which you can read here.
Read more of Sue’s reflections on the Vivensa Foundation’s evolution here.
The second part of this series is a conversation about how collaboration can de-risk change. It will be published in early November.