As of June 2007, over 90% of the funds that the Academy administers are received as a grant from the Office of Science and Innovation (OSI), part of the UK's Department of Universities, Innovation and Skills.
Election as a Fellow of the British Academy recognises high scholarly distinction in some branch of the humanities or social sciences, evidenced by published work. Fellows may use the letters FBA after their names.
The Academy states its objectives as follows:
to represent the interests of scholarship nationally and internationally;
to give recognition to excellence;
to promote and support advanced research;
to further international collaboration and exchange;
to promote public understanding of research and scholarship; and