The grant-maker said it would award grants of up to £150,000 to charities and groups that wanted to improve their existing facilities or find new ones.
In a statement released today, the foundation warned that such organisations often provided vital local services and were at risk if they were not properly supported.
A survey of leaders from 149 charities with annual incomes of less than £500,000 found that 66 per cent of them expected their income to fall or remain stagnant over the next 12 months, but 55 per cent expected to be delivering new services.
Philippa Charles, director of GWF, said: "At a time when communities are struggling to support those in need, we felt it was important to launch a fund that would help bring local communities together.
"By funding capital projects, we want to ensure that charities have the facilities they need to do more of their great work."
The funder said in a statement that its projected spending for the year would bring the total grants it had made to more than £1bn since it was founded 60 years ago, with 40,000 individual grants given out.