Committed to the importance of philanthropy, Sir Ian Wood and his family established The Wood Foundation in 2007, where he is Chairman of the Board of Trustees. Applying venture philanthropy principles, there are three main investment streams where proactive, intelligent funding is directed – Developing Young People in Scotland, Venture Philanthropy Transforming Livelihoods in East Africa, and Facilitating Economic and Education Development in Scotland. Sir Ian is passionate about philanthropy and continues to encourage other people to realise the impact they can have through effective giving – it doesn’t need to be money; time and/or knowledge can be just as powerful.
Recognising Sir Ian’s contributions, he was awarded the CBE in the 1982 New Year’s Honours List, a Knighthood in the 1994 New Year’s Honours List and a GBE (Knight Grand Cross) in the Queen’s Birthday Honours List in 2016. In 2018, he was formally installed as a Knight of the Most Ancient and Most Noble Order of the Thistle by Her Majesty the Queen. He was awarded the Carnegie Medal of Philanthropy in 2019.