Grants awarded normally range from £100 to £1000, though larger sums will be considered. The Society has given small sums towards a wide range of activities in the city. In many cases, a Leeds Phil & Lit grant has enabled an applicant to demonstrate local interest in a project and has enhanced their chances of winning more substantial funding from other grant-awarding organisations. Grants usually go towards activities that have several benefits – to grant holders and to the locality, to wider society and/or the environment.
In 2025 the Society awarded 20 grants worth £13,975.