Report of the Trustees for the Year Ended 31 December 2023 ## Iran Heritage Foundation The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Foundation interprets its remit generously and encourages a wide range of activities intended to provide a forum to facilitate the study and understanding of Iran's culture among students, the academic community and the public at large. The Iran Heritage Foundation's objectives are to help, promote and preserve the rich culture and heritage of Iran. Iranian cultural heritage is defined as archaeology, ancient Iran, medieval Iran, Persian language and literature, the contemporary arts (including music, theatre, film and art) and the environment. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charitable Company's aims and objectives and in planning future activities and planning the activities for the year. Iran Heritage Foundation Report of the Trustees for the Year Ended 31 December 2023 ## **OBJECTIVES AND ACTIVITIES Overview** In 2023, effects of Covid-19 pandemic on organisations and charities all over the country still lingered on. This included the Iran Heritage Foundation, which experienced significant fall in receipt of donation. High cost of organizing large scale in-person events meant that we were again not able to hold the annual Norouz Gala, the main annual opportunity for the Foundation to raise funds. In 2023 we continued to work from home, with occasional visit to our office at SOAS. The end of 2023 saw termination of the Foundation’s relationship with Persian Language Online (PLOL) platform and stepping down of Samuel Styan from his role as the PLOL Coordinator. 2023 continued to be a challenging year for our organisation with shortage of funds curtailing the Foundation’s productivity. The Foundation’s only offerings in 2023 was streaming of two films online; “ _Of Kings and Paintings_ ”, a visual account of the history of the Qajar art and “ _Ahriman: Death before Dying_ ”, account of the journey of a tainted soul as it experiences three different reincarnations through time, both of which were very well received by their audience. The Foundation also sponsored publication of Dr Hamid Keshmirshekan’s book _Rethinking Contemporary Artists in Iran_ . Persian Language Online continued its success by posting new materials on its website through a series of blogs, which included “ _All about ezafe_ ”, _“The Language of Nature in the Poetry of Forough Farrokhzad”, “Re-Imagining the Self in Nature: Through the Lens of Forough Farrokhzad”, “A short history of Indo-Arabic numeral system” and “Persian Architectural Styles through the Ages 1: Persepolis and the Achaemenids and 2: The Ilkhanids”_ with further two blogs dedicated to the celebration of _Chaharshanbe Suri_ and _Norouz_ . A significant development of the year was the Board of Trustees’ agreement to resurrect the IHF Academic Committee with a more robust remit than in the past under the chairmanship of Prof. Robert Hillenbrand. The committee will oversee two annual grant-giving cycles and an annual publishing book award in the name of the late Iradj Bagherzade, founder of I.B. Tauris Publishing house. The Academic Committee will start its remit in January 2024. We look forward to resume activities in 2024. ## Iran Heritage Foundation Report of the Trustees for the Year Ended 31 December 2023 ## **OBJECTIVES AND ACTIVITIES Functions and/or Programmes Organised and/or Funded in 2023** ## a) Social and Entertainment - No social activities were undertaken in 2023. ## b) Events - Of Kings and Paintings - Online film streaming - March 15-20, 2023 - Ahriman: Death before Dying Online film streaming November 20-25, 2023 ## c) Grants - Mani Nickpour for attending the Kanazawa Film Festival 23 in Japan - Hamid Keshmirshekan for publication of his book _Rethinking_ - _Contemporary Artists in Iran._ Iran Heritage Foundation Report of the Trustees for the Year Ended 31 December 2023 ## **STRATEGIC REPORT** ## **Financial review** IHF funds were raised primarily from Trustee Board pledges, individuals and organisations interested in supporting the culture and heritage of Iran. The funds were used for the Foundation's activities, including grants, events, as well as administrative expenses, keeping in line with the core objectives of the foundation. In 2023 total Sources of Funds were £……… and total Uses of Funds were £………. ## **Principal funding sources** Notes 12 and 13 set out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the Foundation's obligations on a fund-by-fund basis. The most important sources of Iran Heritage Foundation's funding are the contributions from Trustees, foundations, sponsors, donors and friends. Some events organised generate further funds. No financial support is received from government organisations within or outside the United Kingdom. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The Iran Heritage Foundation is a company limited by guarantee and is a registered charity governed by its Memorandum and Articles of Association. The Foundation was registered with the Charity Commission on 14 February 1991, under charity number 1001785. The Trustees, who are also the Directors for the purposes of company law, who served during the year, were: A Rashidian (Co-Chairman) A Rastegar (Co-Chairman) N Alakija A Amiri None of the Trustees has any beneficial interest in the charitable company. Iran Heritage Foundation Report of the Trustees for the Year Ended 31 December 2023 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees** New Trustees are selected among persons who have an in-depth interest in the culture and heritage of Iran, can contribute to the strategic thinking of the Foundation, be instrumental in advancing the mission of the Foundation, and be of assistance in raising funds for the Foundation. New prospective Trustees are introduced by one of the existing Trustees for consideration by the Board which votes on the appointment. New Trustees are provided with a new trustee pack which includes: a trustee induction document provided by IHF's lawyers for new Trustees; a copy of IHF's Articles of Association; the three previous annual reports; the most recent copy of IHF's budget; a list of upcoming board meetings; a list of the members of the Board of Trustees, details of the Academic Grants Committee and the Contemporary Arts Grants committee, and full details of IHF's advisors (banking, legal and accountancy). New Trustees are appointed by resolution of the Trustees for a term of three years, after which they are eligible for re-appointment by vote of the Board. ## **Risk management** The Foundation's business is managed by the Trustees through a Management Board, various Committees, and by officers appointed by the Trustees, and a Foundation Secretary. The Trustees are also responsible for overseeing the Charitable Company's risk management activities. Through the risk management process established for the Charity, the Trustees are satisfied that the major risks have been identified and processes for addressing them have been implemented. It is recognised that any control system can only provide reasonable but not absolute assurance that major risks have been adequately managed. The main risk to the Foundation would be lack of donations. This risk is minimised by actively promoting activities. The Trustees confirm that the Charity Commission's guidelines on risk have been complied with. The Trustees set the policies of the Foundation and approve its annual budget. The Trustees' policies are executed by the Management Board, and the Chief Executive Officer. An Academic Grants Committee support and execute various aspects of the policies and activities of the Foundation ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 02510489 (England and Wales) **Registered Charity number** 1001785 ## **Registered office** **SOAS University of London Thorhaugh Street London WC1H 0XG** REGISTERED COMPANY NUMBER: 02510489 (F.ngland and Wales) RF,GlS'fERED CHARITY NUMBER: 1001785 -RLporl ol. Ihc I ru%lLLs and Unau_diilc _P-inancial SILI_Icmci)l% l()r IliL YciL r E_n_d_c_dxl Dco¢niber 2023 for Iran I l¢.riltw F oiin_dation (A_L.oiD.p.piiy l.iinilcd_.by.G.uatan.t¢¢) Faiz & Co. Limited Chartcrcd ALLountants 8B Accommodati(In Road London NWII 8ED Iran Herita Fouiidati(L Contents of the Financial Slat¢ments for IhL Year Ended I l DecembLr 2023 Page Report of the Trustccs Indcpcndcnt Exainincr's Ilcport Siatement of Financial Activities B&21ance Sheet Notes to thc fiiiaiicial Statcinents 8 to 17 r)Ltail¢d Stalcnicnl ot F inaiicial Acliviticq Iran Herila e Foundation ort of the Tnjstees for the Year Inded 31 December 2023 Thc truslccs ivho arc also dircctors of the charity for ihc purposcs of the Companies Act 2006, prescnt their Teport willi th¢ liiiancial statemcnts of the charity for the yLar ¢nded 31 Decembcr 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Staieinent of RLcomm¢nd¢d Practic¢ applicable to charities preparing their accounls In accordance with the Financial Reporting Standard Ipplicable in the UK and Republic of Ireland (FRS 102) (erreciive l January 2019). OllJb.CTIVF.6i AND ACTIVITIF. Functions andlor Progr#mmes Organlsed andlor Funded In 2023 a) SD¥i31 and E_lilcrtainiiicnl Ol. KingF% and P1L intiiigys Onliiic film %treaniing March 15-20, 2023 Ahriinaii.. Death before Dyiiig Onlinc film slreainiiig N()vLmbcr 20-25, 2023 J_orant Mani Nickpour lor all¢iidiiibJ thc Kanaziiwa F ilin Iicstival 23 in Japcln H4imid Ke%hniirshekan flir publication i)f his book Rcthinking Contcmporary Artists in Iran. S'I'RATTr,C.IC REPORT inanciul reviL'W 1111." luiids WLfL rai%ed priniarily froni Trustee Board pledgcs, individuals and orgyanisationq inlLresled in siipportin&F thL' LiiliurL' aiid IILritdg)e of Ii'illl. Th¢ fuiids w¢i'¢ UbLd fur Ili¢ fouiidiilion'b uclivili¢s, iiicludinb byronls, ¢v¢nls, as w¢ll os administrative ¢xpenscs, kccping iii line witli thL core objecliveb of the fouiidation. 111 2023 total Sc)urLc% of Fuiid% wcrL £36,074 aiid l()lal use% of fuiids werc £80,918. Prlnelpal lundlng s(Jurce5 Notc% 12 and 13 %ct out ali analysis of thc asscls attribiitabl¢ to thc vari011s *unds. Thcs¢ as4ets are ,guflicicnt to meet tlie Foundation'% obligation4 on a tund-by-t.und ba%14. The mosl important sources of Iran Heritage Troundation's funding are the contributions from Trustees, fouiidatioiis, sponsors, donors and fTicnds. some events organised geneTate furtlicr funds. No financial siipport is receivLd froni govemnient organisations within or outside the United Kingdom Page I Iran Herita e Foundation ort of the Trustecs for the Y ar Ended 31 December 2023 STRUCTURE, GOVERNANCE AND MANAGEMF.NT Cyoverning document TIIL Iran Ilci-iiUgY¢ Foundation is a company limited by giiarantee and is a regiqtered charity govemed by its Memoi'andum and Articles ot" Association. The Foundation was r¢gistercd with the Charity Commission on 14 February l991, under charity number l 001785. The Tnistees, who are also Ihe DireLlois for Ihe PUlPOS¢b of coinpai)y law, who bcrvcd during7 ihe y¢ar, were.. A Rc18hidian (C,hainnaii) A RaslegFar (Co-cliaii-iiiaii) A Amiri N Aliikija Nonc nl. thc Trustccs lias any bcncficial intcrcst in thc chiL ritablc conipany. Recruitment and appnintmcnt of new trustees NLW Truslccs are sLILLlcd ain()ng person4 wlio havc ali in-depth intercsi in thc culturc and hLI'ilage of Iran, C(In ci)ntribule to tlie strategic thinking of thL Fouiidation, be instruniental in advanLing thL mission of the F()uiidation, and b¢ of assistanLe in raising funds for thL Foundation. New prospeclive Tni%lecs dre iiitroduced by oiic of ihc exisliiig Truslee5 for considLralioii by Ilie Board wliiLlI votcs oil Ili¢ appoiiilinLiil, Ncw Trii%lLCS are providcd with a iiew truslLL P6?ck wliicli iiiclude%'. tru4lLL induction di)LiimLJit provided by IHf'.% Iciwyers for new Trustcc%' a copy c)r IHF'4 Articles or A4%1)Li<ii)n; IIIL, IlirLL PfLViI)Ii% aniiiial report.s; thc m(isl rcccnl copy of IHF'% budbTLt' a list OE. upconiing board inccling7%' a list ol" thc membcrs of the Boar(l of Tni%tcc4, d¥tail% ()r ihc AcadLlniL Grants Coiiimittcc ,409 (98,675) (22,266) Pagc 15 continued... Iran H rita e Foundation Notes to the Financial Statenients - continued tor the Year Endcdj l December 2023 15, MOVEMENT IN FUNDS - ¢ontinued A current year 12 months and prior year 12 months combined position is a% follows.. Net movement in fund Transfers between At 31.12.23 Ai 1.1.22 Unrestrictcd funds CJenerc11 fiiiid 91,646 (69,339) (1,000) 21,307 RestriLted t'unds RL4triclcd Punds (1,000) 1,000 F.ndowmLint I'unds F.ndowincnl F'und 141,997 3,229 147,226 TOTAL FUNDS 21.S,643 (67,110) 168,533 A Lurrenl year 12 Inonths aiid prior year 12 m(Inihs combined net movement iii funds, included in the above are as follows.. Inconiing resourccs RL'%our¢cs cxpLnded MovcniLnt iii fiinds UnrLlStrietLd funds GLncrcil fuiid 94,854 {164,19.3) (69,-139) RL'striLtL'd funds RrstriLILd P unds 14,400 (15,400) (1,000) Endoivment funds EndowinLnl Puiid 3,229 3,229 TOTAL FUNDS 112,483 (179,59.3) (67,110) Page 16 continued... Iran Herita ¢ Foundation Notes to the Financial Statements - continucd for the Year Ended 31 Decembcr 2023 16. RELATED PARTY DISCLOSURES Th¢ Foundation was involved in the establtshment ot. a charity, IHF America, in the United States. IHF America and the Foundation qhare a number of trustees and have common purquits, but the two are considered to be independent. The Foiindation occiipies office spnce 011 the premises of Asia Hoiise, a comp&iny in wliich one of the Tni%tce% is a dirLLlor. Page 17 Jran Herila e Foundation Dctailed Stat¢ment of Financial Activitics for thc Year Ended 31 DecembeT 2023 31112123 31112122 INCOME AND LNDOWMENTS Donations and legacies (iifts Donations (irants {J) 66,696 12,QOO 13,258 66,696 ()tlier tradlnkj aLttvStles OihLr iiic()mc 2,816 9,713 C.harltable actlvltles PLrsiaii Laii&TuagyL Oiiline 20,000 Totul Incomlng resources 36,074 76,409 F.XPF.NDTTURF. Ch#rit&blLi llctlvitlcs DireLI F.xpcn.4c4 Grant8 to individual 6,906 3,400 13,000 13,250 10,306 Support eosts thLir WagFe8 C()mputer expLI)ses (iLnLral ()I'ficc cxpLn.ses (ioveniaiice cosls 15,816 2.317 14,001 1,657 3,018 1,814 25,913 33,791 Governance costs 19,-127 9,052 11,562 1,814 32,110 6,949 13,862 1,657 C()mpiitcr cxpenses Siindries I,egial and professional fees 41,755 54,578 Total resources expeiided 80,918 98,675 Net expenditure (44,844) (22,266) This pagc docs not fom) part of the statutory financial statements Page 18