Charity registration number. 1003982
The Bologna Center of the Johns Hopkins
University Charitable Trust
Annual Report and Financial
ststements for the Year Ended
5 April 2024
Wenn Townsend
30 St Giles
Oxford
OX13LE

The Bologna Center of the Johns Hopkins University Charitable Trust
Contents
Reference and Administrative Details
Trustees, Report
2to3
Statement of Trustees, Responsibilities
Independent Auditors, Rep)rt
5t08
Statement of Financial AdNib'es
Balance Sheet
10
Cash Flow Statement
11
Notes to the Financial Slatements
12to20

The Bologna Center of the Johns Hopkins University Charitable Trust
Charity Name
The Bologna Center ofthe Johns Hopkins University Charitable Trust
Trustees
Mr. Angelo Ciavarella (appointed 9 August 2023)
Ms. M Annstrong
Mr. J Ulrich Jr.
Mr. P Taylor
Ms. A Magal
Secretary
Ms. E Flood
Prlnelpal Office
19 Norcott Road
London
N167EJ
Charlty Reg. Number
1003982
Bonker8
CAF Bank Limited
25 Kings Hill
Avenue West
Malling
Kent ME19
4JQ
Audltorn
Wenn Townsend
30 St Giles
Oxford
OX13LE
Page 1

The Bologna Center of the Johns Hopkins University Charitable Trust
Trustee's Report
The trustees present the annual report together with the financial statements of the charity for the year ended
5 April 2024.
The financial statements have been prepared in accordance with the accounting policies set out in notes to
the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 (FRS102)
(effective 1 January 2019).
ObJ8Ctlves and activities
Objects and aims
The charity's objects and its principal activities continue to be that of the advancement of education by the
promotion in the United Kingdom of post-graduate courses offered by the Bologna Center of the Johns
Hopkins University. This includes the provision of financial assistance, and scholarships to British Students.
Objectives, strategies and aCtwit￿S
In the current year a large donation of ¢£32,200,000 12023 £40,000,000) was received from an individual
in support ofthe restricted fundsfor'SAIS Europe,. Gift aid ofc£6,400,00012023- £10,000,000) was reclaimed
on Ihis donation.
Public benefit
The charity provides grants to the Bologna Centre of the Johns Hopkins University Charitable Trust in
order to further education. The trustees confirm that they have complied with the requirements of section
17 of the Charities Act 2011 to have due fegard to the public benefit guidance published by the Charity
Commission for England and Wales.
Fund￿lSIng st8nd8rds infom7ation
The charity does not raise funds from the general public, and has not received any complaints or concems in
this regard during the current or preceding period.
Grant making policies
All donations received and gift aid claimed by the charity may be paid across as a granttothe Bologna Center
at the discretion of the trustees. Where there are no restrictions imposed by the donor monies may be retained
for administration and governance costs.
Flnanclal revlew
The Statement of Financial Activities shovts net resources ex￿nded for the year of £3,554,047. Reserves
stand at £1,453,801, of which £1,439,771 relate to restricted funds, with unrestricted funds being £14,030.
The present level of funding is adequate to support the objects of the Charity.
PoI￿Y on ￿$&TheS
The Trustees have resolved to commit as much of the charity's resources as possible to expenditure grants,
whilst retaining very modest reserves to meet day-to-day administrative costs as they fall due. As at the year
end date, free reseNes of the Charity were £14,030, which is deemed to be in line with the above target.
Principal funding sru
Donations from individuals remain the principal fijnding source of the charity.
Plans for future periods
The trustees intend to continue operating in the same fashion in 2024-25 - with grant awards made out of
funds generated.
Page ?

The Bologna Center of the Johns Hopkins University Charltable Trust
Trustee's Report
Structure, governance and management
Nature of goveming document
The charity is unincorporated and is constituted and govemed by its Trust Deed dated 15 July 1991.
Recwitment apP￿ntrnent of trust8es
The present trustees and any past trustees who served during the year are shown below. as at the date
of the signing of this report. The power of appointing new trusteès is vested in the trustees themselves.
Induction and training of truste8s
New trustees are intrt>Juced to the charity by existing trustees.
o￿anIsati(￿al stmcture
The charity's day-t(￿aY running is carried out by the secfetsry. All decisions are made by the trustees who
have ultimate control.
Risk Man8gem8nt
The trustees have identified the major risks to which the charity is exposed and systems have been
established to mitigate those rlsks. Risk assessments are reviewed every year by the Trustees.
Cash flow risk
Th8 Charity's activities expose it primarily to the financial risks of changes in foreign currency exchange
rates. The administrator monitors exchange rates regularly.
c￿di1 nsk
The Charity's principal financial assets are bank balances and cash. The Charity uses a specialist charity
bank to reduce its credit risk.
Liquidity risk
In order to maintain liquidity and to ensure that sufficient funds are available ft)r ongoing operations and
future developments, the Charity monitors its cash flows regularly.
Disclosure of information to auditor
Each trustee has taken steps Ihat they ought to have taken as a trustee in order to make themselves aware
of any relevant audit information and to esLgblish that the charity's auditor is aware of that information. The
trustees confinn that there is no relevant information that they know of and of which they know the auditor is
unaware.
The annual report was approved by th8 trustees of the charity on T November 2024 and signed on its behalf
Mr. John Ulrich Jr.
Trustee
Page 3

The Bologna Center of the Johns Hopkins Universlty Charitable Trust
Statement of Trustees. Responsibllltles
The trustees are responsible for preparing the trustees. report and the financial statements in accordance
with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year
which give a true and fair view of the State of affairs of the charity and of the incoming resources and
application of ￿sour￿S of the charity for that period. In preparing these financial statements, the trustees
are required to..
select suitable accounts'ng policies and then apply them consistently.,
observe the methods and principles in the Charities SORP (2019).,
makejudgements and estimates that are reasonable and prudent",
state whether applicable accounting stsndards have been foll0v￿d, subject to any material departures
disclosed and explained in the financial statements,. and
prepare the financial statements on the going con¢em basis unless it is inappropriate to presume that
the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy
at any time the financial position of the charity and enable them to ensure that the financial statements
comply with the Charities Act 2011. the applicable Charities (Accounts and Reports) Regulations, and the
provisions ofthe trust deed. The trustees are also responsible for safeguarding the assets ofthe charity and
hence for taking reasonable steps for the prevention and deteclion of fraud and other irregulanties.
The trustees are responsible for the maintenance and integrity of the charrty and the financial information
included on Ihe charity's website in accordance with legislation in the United Kingdom goveming the
preparation and dissemination offinancial statements.
Approved by the trustees of the charity on 7th November 2024 and signed on its behalf by..
Mr. John Ulrich Jr.
Trustee
Page 4

The Bologna Center of the Johns Hopkins University Charitable Trust
Independent Auditor's Report to the Members of The Bologna Center of the Johns
Hopkins University Charitable Trust
Opinion
We have audited the financial statements of The Bologna Center of the Johns Hopkins University Charitable
Trust (the '¢harity') for the year ended 5 April 2024, which comprise the Statement of Financial Activities,
Balance Sheet. Cash Flow Statement. and Notes to the Financial Statements. including a summary of
significant xcounting policies. The financial reporting framework that has been applied in their preparation is
United Kingdom Accounting Standards, comprising Charities SORP {2019)
FRS 102 The Financial
Reporting Standard applicable in the UK and Republic of Ireland. and applicable law (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the stste ol the charity's affairs as at 5 April 2024 and of its incoming resources
and application of resour￿. including its income and expenditure. for the year then ended,.
have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,
including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland,; and
have been prepared in accordance with the requirements ofthe Charities Act 2011.
8o•i8 for oplnlon
We conducted our audit in accordance with Internati￿al Standards on Auditing (UK) (ISAS (UKI) and
applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities
for the audit of the financial statements section of our report. We are independent of the charity in arxordance
with the ethical requirements that a￿ relevant to our audit of the financial statements in the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our opinion.
Conclu8lon8 relatlng to golng concern
In auditing the financial statements. we have ¢onduded that the trustees. use of the going concem basis of
accounting in the preparation of the finanaal statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events or
conditions that, individually or Cdlectivety, may cast significant doubt on the charity's ability to continue as a
going concern for a period of at least tsvelve months from when the financial statements are authorized for
issue.
Our responsibilities and the responsibilities of the trustees with resped to going concem are described in the
relevant sections of this report.
Other Infom7atlon
The trustees are responsible for the other information. The other infomiation comprises the infomiation
included in the annual report. other than the financial statements and our auditor's report thereon. Our opinion
on the financial statements does not cover the other infomiation and. ex￿pt to the exlent otherwise explicitly
stated in our report, ￿￿ do not express any fomi of assurance condusion thereon.
Page 5

The Bologna Center of the Johns Hopkins University Charitable Trust
IndependentAuditor's Report to the Members of The Bologna Centerof the Johns
Hopkins University Charitable Trust
In connection with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whethef the other information is materially inconsistent with the financial statements, or
our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements. we are required to detemiine whether there is a
material misstatement in the financial statements or a material misstatement of the other information. If.
based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact.
We have nothing to report in this regard.
Matters on whlch we are required to report by exceptlon
In the light of our knowledge and understanding of the charity and its environment obtained in the course
of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to
report to you if. in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us,. or
the financial statements are not in agreement with the accounting records and retums., or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we requlre for our audit.
R08pon8lbllltle8 of tru8ts08
As explained more fully in the Statement of Trustees, Responsibilities (set out on page 4), the trustees are
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair
view, and for such internal control as the trustees determine is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concem, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations,
or have no realistic alternative but to do so.
Page 6

The Bologna Center of the Johns Hopkins University Charitsble Trust
Independent Audltor's Reportto the Members of The Bologna Center of the Johns
Hopkins University Charitsble Trust
Auditor's re8pon8ibiliti88 for the audit of the financial 8tatements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance
with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilib'es. outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularits'es,
Including fraud, is detailed below..
We gained an understanding of the legal and regulatory framework applicable to the charity and the industry
in which it operales. and considered the risk of acts by the charity that were contrary to applicable laws and
regulations, including fraud. We discussed with the trustees the policies and procedures in place regarding
compliance with laws and regulations We discussed amongst the audit team the identified laws and regulations
and remained alert to any indications of non-compliance.
During the audit we focused on laws and regulations which could reasonably be expected to give rise to a
material misstatement in the financial statements, including, but not limited to, the Charities Act 2011. th8
Charity SORP12019). Our tests included agreeing the financial statement disclosures to underlying supporting
documentation and enquiries with management.
Our proCedU￿S in relation to fraud included but were not limited to.. inquires of management whether th8y have
any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding
risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the
principal risks related to posting manual journal entries to manipulate financial performance and management
bias through judgements in accounting estimates. We also addressed the risk of management override of
intemal controls, including testing journals and appropriateness of other entries in the nominal ledger,. reviewing
transactions around the end of the reporting period., and evaluating whether there was evidence of bias by the
directors that represented a risk of material misslatement due to fraud.
Because of the inherent Ilmitations of an audit. there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This
risk increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional cOn￿alMent, forgery, collusion. omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website at..
. This description forms part of our auditor's report.
Page 7

The Bologna Center of the Johns Hopkins University Charitable Trust
Independent Auditorfs Report to the Members of The Bologna Center of the Johns
Hopkins University Charitsble Trust
Use of our report
This report is made solely to the charity's trustees, as a body. in accordance wth Part 4 of the Charities
{Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the
charity's trustees those matters V￿ are required to state to them in an auditor's report and for no other purpose.
To the fullest extent pemiitted by law, we do not a¢￿pt or assume responsibility to anyone other than the
charity and the charty's trustees as a l)ody, for our audit work, for this report. or for the opinions we have
fomied.
For and on behalf of Wenn Townsend. Statutory Auditor
30 St Giles
Oxford
OX13LE
November 2024
Wenn Townsend is eligible for appointment as auditor ofthe charity by virtue of its eligibility for appointment
8s auditor of a company under seclion 7212 of the Companies Act 2006.
Page 8

V*W

The Bologna Center of the Johns Hopklns Unlverslty Charitable Trust
Balance Sheet
5 April 2024
Nots
2024
2023
Current Assets
Debtors
Cash at bank and in hand
1,439,348
8,269,080
5,000,640
12,74
10
Current Asset8
9,708,428
5,012,814
Credltors: Amounts falllng due wlthln one year
11
{8,254,627)
(4,9661
Net Current Asset8
1,453,801
5,007,848
Nèt Assets
1,453,801
5,007,848
Fund8 of tho charity:
Restricted funds
Unrestricted funds
13
13
1,439,771
14,030
5,0Tr),873
6,975
Total Fund8
13
1,453,801
5,007,848
Approved by the Board of Trustees on 7th November 2024 and slgned on thelr behalf by:
Mr. John Ulrich Jr
Tru8tee
The notes on page 12 to 17 fomi part of th•$e financSal statements
Page 10

The Bologna Center of the Johns Hopkins Univernity Charltable Trust
Statement of Cash Flows
forthe year ending 5 April 2024
Nots
2024
2023
Cash flow from operating activities
Net income for period
{Increaselldecrease in debtors
Increasel(decrease) in creditors
Interest received
(3,554,047)
3,561,292
8,249,661
{9,500)
5.001,356
(5,000,423>
2,902
(5,030)
Net cash flows from operatlon actlvltl08
8,247,406
(1,195)
Cash flow8 from Investlng actlvltles
Interest received
9,500
5,030
Cash flows from Inve8tlng activltles
9,500
5,030
Increase in cash and cash equivalents in the year
8,256,906
3,835
Cash and cash equivalents at the beginning of the year
12,174
8,339
Total cash and cash equlvalents at the end of the year
8,269,080
12,174
Page11

The Bologna Center of the Johns Hopkins Universlty Charltable Trust
Notes to the Accounts
for the year ended 5 April 2024
Summary of Significant Accounting Policies
Basls of Preparation
The Bologna Center of the Johns Hopkins University Charitable Trust is an unincorporated charity in the
United Kingdom. The address of the principal office is given in the charity information at the front of these
financial statements. The nature of the charity's operations and principal activities are noted in the Trustees
Report.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been
prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland (FRS 102>, the Chartties Act2011, and UK Generalty
Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified
to include certain Items at fair value. The financial statements are prepared in sterling which is the functional
currency of the charity and rounded to the nearest £. The significant accounting policies applied in the
preparation of these financial statements are set out below. These policies have been consistently applied to
all years presented unless otherwise stated.
Income Recognltlon
All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the
income after any performance conditions have been met, the amount can be measured reliably, and it is
probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in
writing. If there are conditions attached to the donation and this requires a level of performance before
entitlement can be obtsined, then income is deferred until those conditions are fully met or the fulfilment of
those conditions is within the control of the charity, and it is probable that they will be fulfilled.
Other income relates to payments received from the Johns Hopkins University in order for the Trust to pay for
its bank charges and accountancy fees.
Expendlture
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to
make payments to third parties, it is probable that settlement will be required, and the amount of the obligation
can be measured reliably. ￿ere costs cannot be directly attributed to particular headings, they have been
allocated to activities on a basis consistent with the use of those resourtss
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and
services for beneficiaries. It includes Costs that can be allocated directly to such activities, and those costs of
an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements
of the charity and Include the audit fees and costs linked to the strategic management of the charity.
Grants Payable
Grants are payable to charitable organisations in accordance with the charity's governing instruments. Vvhere
unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives
rise to a reasonable expectation that the grant will be paid.
Page 12

The Bologna Center of the Johns Hopkins University Charitable Trust
Notes to the Accounts (continued)
for the year ended 5 Aprll 2024
Summary of sign5ficant accounting pollcles (contlnued
Fund Accounting
Unrestricted income fvnds are general funds that are avaiSable for use at the trustees, discretion in furtherance
of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of
which is restricted to that area or purpose.
Foreign Currency
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary
assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date. All differences
are taken to the SOFA.
Debtors and Credltors RecelvablelPayable Wlthln One Year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in expenditure.
Taxatlon
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered
to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of
charitable company for UK corporation tax purposes.
Golng Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material
uncertainties exist. The trustees have considered the level offunds held and the expected level of income and
expenditure for 12 months from authorising the financial statements. They have included an assessment of
the continued potential impact of significant global macro-economic factors on these forecasts. The budgeted
income and expenditure is sufficient with the level of reserves held for the charity to be able to continue as
going concern.
Slgnlficant Judgements and Estlmates
In the application of the charity's accounting policies, management is required to make judgments, estimates
and assumptions about the carrying values of assets and liabilities that are not readily apparent from other
sources. The estimates and underlying assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that period,
or in the period of the revision and future periods if the revision affects both current and future periods.
Donatlon Income
Unrestrlcted
2024
Restrlcted
2024
Total
2024
Total
2023
Donations from individuals
Gift Aid reclaimed
610
25,760,751
6,439,208
25,761,361
6,439,208
40,006,012
10,000,180
Investment Income
Unrestrlcted
2024
RestrFCted
2024
Total
2024
Total
2023
Interest
9,500
9,500
5,030
Page 13

The Bologna Center of the Johns Hopklns Unlvernty Charitable Trust
Notes to the Accounts (continued)
for the year ended 5 April 2024
Expendlture on charitable activities
Grdnt funding
2024
Totsl
2024
Total
2023
Grants payable to The Bologna Center
35,764,116
35,764.116
45,009,866
Anaty818 of support costs
Support costs allocated to charltable acllvities
AllocatSon
Ba818
Governance
Costs
F5nance
Costs
Total
2024
Total
2023
Grants payable
100
2,880
175
3,055
3,597
Basls of allocatlon
1000A - all support costs have been allocated to grants to insbtutions.
Governance costs
Total
2024
Totsl
2023
Audltor fees:
Audit of the financial ststements
Accountancy fees
1,680
1,200
2.250
1,200
Trustees and key management personnel remuneratlon and expense8
The Trustees neither received nor waived any rerwneratK)n or reimbursement for expenses during the year
{2023.' £Nil).
Page 14

The Bologna Center of the Johns Hopklns UnlveTsity Charitable Trust
Notss to the Accounts (continued)
for the year ended 5 April 2024
Debtors
2024
2023
Other debtors
1,439,348
5,000,640
Credltors
2024
2023
Grants payable
Other creditors
Accrued expenses
8.250,841
610
4,356
3,786
8,254,627
4,966
Statement of funds
At6
Aprll 2023
At5
Expendlture Aprll 2024
Income
Unrestricted general funds
6.975
10,110
(3,055)
14,030
Restricted funds..
UK Fellowship fund
Class of 1990 Fellowship fund
Class of 1966 Fellowship fund
Class of 1968 Fellowship fund
Class of 1971 Fellowship fund
Class of 1983 Fellowship fund
Bolognesia event of 2022
Gita Beker Busjeet Memorial fund
Enzo Grilli Fellowship fund
Elif Nazmiye Yavuz Memorial fund
Kathryn Knowles fund
SAIS Europe Fund
Taddei Fellowship for Economics Fund
328
3.000
414
297
187
419
1,000
112
100
67
(51)
4,995,000
300
(220)
408
3,000
727
717
187
794
1,000
112
100
67
151)
(35,750,841 } 1,432,710
(4,000>
313
420
6.375
(6,000)
32,188,551
4,0(Y)
Total restricted funds
5,000,873
32,199,959
(35,761.061)
1,439,771
Total funds
5,007,848
32,210,069
(35,764,116)
1,453,801
Page 15

The Bologna Center of the Johns Hopkins University Charitable Trust
Notes to the Accounts (continued)
for the year ended S April 2024
statement of funds Icontlnued)
At6
April 2022
At5
Expenditure April 2023
Income
Unrestricted general funds
5,542
5,030
(3,597)
6,975
Restricted funds:
UK Fellowship fund
Class of 1990 Fellowship fund
Class of 1966 Fellowship fvnd
Class of 1968 Fellowship fvnd
Class of 1971 Fellowship fund
Class of 1983 Fellowship fund
Bolognesia event of 2022
Gita Beker Busjeet Memorial fijnd
Enzo Grilli Fellowship fund
Elif Nazmiye Yavuz Memorial fund
Kathryn Knowles fund
SAIS Europe fund
33
295
3,000
3,000
414
297
187
419
1,000
112
100
67
(511
{45,005,769) 4,995,000
414
225
187
294
72
625
1,000
(500)
112
100
67
(51)
(431)
50,001,200
Total restricted funds
950
50,006,192
{45,006,269) 5,000,873
Total funds
6,492
50,011,222
(45,009,866) 5,007,848
The specific purposes for which the funds are to be applled are as follows:
Descri
tion of Restricted Funds=
UK Fellowship Fund contributes towards UK student scholarships.
Class of 1990 Fellowship supports Bologna Center students through a yearly partial-tuFtion fellowship.
Class of 1966 Fellowship suppo1 is Bologna Center students through a yearly partial-tuition fellowship.
Class of 1968 Fellowship supports Bologna Center students through a yearly pa1 iial-tuits'on fellowship.
Class of 1971 Fellowship supports Bologna Center students through a yearly partial-tuition fellowship.
Class of 1983 Fellowship supports Bologna Center students through a yearly partial-tuition fell0v￿h1p.
Gita Beker-Busjeet Memorial Fellowship fund supports a fellowship for a student who spends his or
her first year at SAIS Bologna and shares Gita's professional interests in economic and social
development as well as in the economic empowerment of women, with a Preferen￿ for students
coming from the following regions.. Latin America, Africa and Asia.
Enzo Grilli Fellowship Fund perpetually finances a fellowship for SAIS students of any nationality in
Bologna and in Washington.
Elif Nazmiye Yavuz Memorial Fund is a fellowship established in memory of SAIS alumna Elif N. Yavuz,
who was killed in September 2013 during a terrorist attack on a shopping mall in Nairobi, Kenya,
together with her partner and their unborn child. The fellowship supports a student with career and
research interests similar to Yavuz's.. humanitarian assistan￿ and public health in the developing
world.
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The Bologna Center of the Johns Hopklns Unlversity Charitable Trust
Notes to the Accounts (continued)
for the year ended S April 2024
ststement of funds (continued)
Kathryn Knowles Fund is in memory of SAIS alumna and member of the SAIS Europe staff
Kathryn Knowles, who passed away in September 2018 after a brief illness. The fund aims to
support experiential learning opportunities for students who are affiliated with the European
and Eurasian Studies program or who attend SAIS Europe. The priority will be to support
student intemships, although funds may be used to underwrite student participation in study
trips.
SAIS Europe Fund addresses the most pressing needs of the school in all operational areas as
they arise during the course of the year.
A surplus of £14,030 exists on unrestricted reserves at the year end relating to support costs.
10 Analysis of net assets between funds
Unrestrlcted
Funds
Restrlcted
Funds
Total Funds
2024
Current assets
Current liabilities
17,816
{3,786)
9,690,612
(8,250,841)
9,708,428
(8,254,627)
Total funds
14,030
1,439,771
1,453,801
Unre8trl¢t•d
Funds
Re8trfcted
Fund8
Total Funds
2023
Current assets
Current liabilities
11,331
(4,356)
5,001,483
{610}
5,012,814
{4,966)
Total funds
6,975
5,000.873
5,007,848
11 Related party tran8actlon8
There were no related paty transactions in the current or preceding year.
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