The Steve Morgan Foundation has stopped accepting new applications until further notice as it embarks on a review of its grantmaking.

The philanthropist and entrepreneur Steve Morgan has donated more than £300m to the foundation since its launch in 2001, allowing it to award more than 2,500 grants and more than £100m to its strategic partners.

The grantmaker recorded a total income of £9.6m in the financial year to the end of March 2024, according to its latest accounts filed with the Charity Commission.

In a statement, the foundation said: “The trustees have taken this decision to pause new grant applications to enable them to take time to reflect on how we can best continue to support and work in partnership with the people and organisations delivering vital work and projects in our communities.”

A spokesperson for the foundation told Third Sector that the pause would allow trustees to review its approach to grantgiving. 

All grant applications received up until 25 February will still be considered for funding, but the grantmaker would not accept any new applications until further notice, the spokesperson said.

“Our work with our strategic partners and associate charities is unchanged, and the foundation remains committed to supporting local and regional charities in our remit areas delivering vital work and projects in our communities. 

“We firmly believe in the power of collaboration and maximising the impact of our funding through working in partnership with like-minded people and organisations, where we can bring expertise and experience alongside the funding,” they said.

The foundation “remains totally committed to continuing its mission of building partnerships to deliver modern-day philanthropy at its best”, the spokesperson insisted.

They said the grantmaker would update its approach to grant applications when it had further information to share, adding that it would have further clarity after its next trustee meeting later this month.