UK COMMUNITY FOUNDATIONS IA company limited by guaianteel REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Company Number= 2651777 Charity Number.. 1004630 UKCOMMUNITY FOUNDATIONS GIVING FOR LOCAL GOOD UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 CONTENTS CONTENTS PAGE Introduction Chairfs Report Trustees, Report (incorporating the strategie report) 7-27 Independent Auditorf5 Report 28-31 Statement of financial activities 32 Balan¢e sheet 33 Cash flow statement 34 Note5 to the financial statements 35-50 Legal and administrative details 51-52 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 INTRoDU￿10N INTRODucfioN UK Community Foundatlon5 IUKCF, charity number 10046301 is the national membershlp organisation for all a¢¢redited community foundatlons acr055 the UK. In addition to belng place-based grant-makers, community foundations are community leader5, convenors and catalysts. They encourage and develop local philanthropy; we help people and organisations invest in local communities where it 15 most needed and where it will make the most impa¢t. OLtr vision is of a society where local philanthropy Is the norm and where communitie5 will be able to help all those in need, Who we are Our network consists of 47 accredited community foundatlon5 and three overseas members, We ¢over the whole of the United Kingdom and we have an unparalleled reach irsto local ommunities. Each community foundation has an in4epth understanding of its local area. what the priority needs are and how best to address these needs. This understanding and community knowledge is the result of extensive local resear¢h. Community foundations are thus able to advise donors on how best to fund local causes most efficiently and effectively. Community foundatlons are the best way for local people and organlsations to Eive right to the heart of their communities wherever they live across the UK. They address the widest possible range of issues and intervene in the hardest to reach communities. What we do Community foundations 5UPPOrt and fund local projects and organisations at the grassroots level a¢ross a wide range of local issues, su¢h as poverty alleviation, emergency crisis response, youth engagement, isolation and mental health. The causes we fund are as dlverse as the ¢ommunities we engage with. Community foundations are community eonvenor5 and leaders, able to harness and influence local resources to achieve community benefit. We are able to bring disparate people and agencies around the table to achieve meaningful social change. Community foundations are focussed on local philanthropy, as endowed eharities they build a sustainable source of funding from and for their loeal communities. The network of aceredlted community foundations glves grants totalling around £100 million annually {2020-21 increased to almost £175 million due to COVID-19 related programmes}. This makes us, collectively, one of the UK'S largest grant%iving organisations. Over the past UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 INTRODUCFION 20 years, donors have given over £1 billion to and through communityfoundations to address local need. This demonstrates h¢xi the philanthropie spirit in the UK has secured long term and sustainable benefit for communities and achieved lasting social change, UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 CHAIWS REPORT CHAIR'S REPORT 2020-21 was an extraordinary year for UKCF and for the whole community foundation network,. full of change, challenges and achievements. This annual report marks and ¢elebrates those achievements, which resulted in £81.7 million being distributed to meet and sustain the need5 of our communities across the UK, In what werè extremely tough circumstances. The rèport a150 looks forward to the future, to a vibrant and thriving UKCF and community foundation network. COVID-19 hit UK and in March 2020. loekdown began. Early that year, Fabian French, our CEO, stepped down. The UKCF Board thanks Fabian for his leadership at the helm of UKCF over the previous five years. Fortunately, Wiltshire Community Foundatlon 8enerou51y released its CEO, Rosemary Macdonald. to be appointed UKCF'S interim CEO in March 2020. Later, after an open recruitment pro¢ess, Rosemary was appointed to be UKCF'S new, permanent CEO in Julv. A5 lockdown began. it had bécome apparent that UKCF and all community foundation members would have to work together ift a new and different way to 5UPPOrt and SL15tain our communitles though the pandemic. The National Emergencies Trust INM launched its COVID-19 appeal in March 2020 and UKCF was delighted to work with NET as its main distribution partner, Straight away, our members commenced the distribution of Ptuge amounts of fundlng to communities across the UK. It was an amazing succe55. made even more impressive because teams throughout the network had transitioned from working in comfortable and collegiate offices to working from home, frequently in pretty stressful circumstances, to manage very large volumes of funding. UKCF and the network celebrate the tremendous achievement of distributing £75.6 milllon of NET funding to our communities between March and October 20201£2.6 million of which was distrlbuted in financial year 2019-201. Other tunding brought that total to £81.7 million of grants distributed for the financial year 2020-21.1 am extremely proud of UKCF and our member5. The staff team at UKCF also undeNent significant change. Team members were furloughed and other5 departed to seek openings elsewhere. This gave UKCF an opportunity to rethink its strategic direction and to build a new team forthe future. Eleven new team member5 were reeruited during 2020-21. Now UKCF team members work remotely from across the UK, which improves our diversity and better reflects the communities we serve. UKCF undertook a governance revlew during the year. A nominations eommittee was appointed to run the election prO￿5S for trustees from the membership and to oversee the appointment of independent trustees to the board. A new board of trustees was Voted in at the virtual AGM on 23 October 2020 and six new independent trustees were Co￿pted to the UK COMMUNITY FOUNDATIONS YEAR ENOED 31 MARCH 2021 CHAIR'S REPORT board on 23 June 2021. A new set of articles was approved at a virtual EGM on 10 December 2020. Michelle Cooper, Kevin Rlchmond. Davld Rossington, Markspofforth andTomVan Oss were elected to the board as new trustees from the membership. Toby Anstruther, john Gordon, Stephen Singleton and I IAndrew Tug8eyl were re*lected as member trustees. Colin Seccombe remained on the board as an indépendent trustee. Following a rigorou5 re¢rultment process supported by Green Park, specialists in helping boards to strengthen and diversity their membership, we were delighted to welcome independent trustees Daniel Anjorin. Gill Bull, Helen McEachern, Anushka Na8pal, Kayathi Supramaniam and Edge Watchorn to the board on 23 June 2021, The UKCF board now Comprises 16 trustee5, nine from the membershlp and seven independents. I thank Jerome 800th. Jan Garrill, Niamh Goggin, Andrew Mccracken, Victoria Miles, John Nickson, Paul Palmer, Arthur Roberts and Martha Wilkin50n ft)r their serviee as trustees during 202￿21. 2020-21 was a year in whi¢h the equity, diversity and inclusion IEDII of both UKCF and the network gained the importance it de5erve5. We were challenged fairly in relation to our ¢ommitment to racial justice and the equltable distribution of our funding. EDI has now been made a priority for UKCF and all eommunity foundatiorts. Following the publication of our EDI policy in October 2020, UKCF appointed a Director of EDI, Kaveed Ali, to provide the strate8lC lead at UKCF and for the network. Thi5 is a rsew Chapter in our EDI journey and I look forward to reporting progress in coming years. Following through from 2020-21, UKCF looks ahead with confidence. There are new strategic priorities,. strengthening the network, boildlng the UKCF profile, unlocking resources and building a thriving UKCF, with EDI, di8ltal transformation and communication5 woven through the fabric of our work. Reflectington thirty years of co-operation and collaboration and looking ahead, UKCF is at an exciting point n its history, ready to in5plre and equip our members to setve thelr comm es the UK recovers from the pandemic and all its challenge5. -And uggey CBE UKCF Chair UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT REPORT OF THE BOARD The Trustees present thelr annual Trustèes, Report, incorporating the strategic report, together with the audited accounts of the charity for the yéar ended 3 1 March 2021. I. UKCF'S VISION. MISSION, VALUES AND GOALS Vision - A National Voice for Local Communltles. Community foundations have a UK-wide reputation as agSle agents for change for every local communlty- addressing need through vibrant local philanthropy and giving, Sustainable charitable funding and loeal partnership workin8 - and are recognised as an integral element of any national discussions relating to local Communitles. Purpose. To position community foundations at UK national level a5 the partner of ehoice for empowering locèl communities. Mlsslon. To provide inspirational leadership and advocacy at UK national level for community foundation5 across the UK by delivering training. re50ur¢es and a national profile to enhance and sustaln their support of local communities, UKCF Values. Why are we here? We believe in justice and fairness. Everyone should have the opportunity to have a fulfilling life and to feel they belong. This cannot be mandated by government, or done to people, onlywith them. Change needs to come from within communities, driven by people who understand the local situation and our support makes this p055ible. We understand the challenges, will find the funding and work with those who have the solutions to improve lives. We put Incluslvity at the forefront of all we do.. o Valuing diversity of experience and thought o Ensuring all voice5 are heard Challenging and dismantllng barriers wherever we find them We put relationshlps first: o Everything we achieve will be done with and through others o Demonstrating integrity, openness, honesty, and care in all we do o Empowering network5 that support places to thrlve UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT We are ambltlous for members and the communities they support: o Valuing future generations o Focussin8 on underlying causes not symptoms o Constantly challenging our knowledge and prncti Overarching Strate8ic Goal$ l. Strengthen the Network: We shall work to ensure that each of our members ha5 the skills and capacity to meet the needs of their communities by offering a range of services that add value to members of all sizes, based on members. needs and Interests. 2. Bulld Proflle: We shall improve our visibility Wlth government and other influen¢ers to positSon community foundations as thè partner of choice and experts on place- based social change by enhancing our communl¢ations and developing a policv platform and a clear and unified vol¢e. 3. Unlock Rewurces.. We shall generate investment in the network from a wide range of philanthropists. donors and partners by building a strong case for support of community foundations and UKCF. 4. Build a Thrivin8 UKCF.. We shall create an exemplar organisatlon that has the confidence of members, is sustainable and a great place to work, by investing in our people, systems, proce55es. and leadership. Speclal ProJect$ l. Equlty Diversity and Incluslon: In orderto improve our diversity, scrutiny and decision making, we have appointed an EDI Director who will be responsible for ensuring that 11 aspect5 of our work take equity, diversity and incl¢Jsion on board. During 2021, they will be focussed on, embedding best practiee across our grant-making, philanthropy, communications, govèrnance and operations at UKCF. and then sharing our EDI learning and experience across the network. 2. UN Sustainable Development Goals,. The UN Sustainable Development Goals provide framework which neatly explains the wide range of work that communlty foundations do. By adopting the goals and tsrgeting the 2030 timeframe, we will have UK COMMUNITYFOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT a methodology for measuring our impact, a Communication hook. and the ability to position community foundations on the national and international stage. 3. Dlgltal Transformation: Improving our use of digital is a key focu5 for UKCF and the member5. The digital transformation project will reach into every area of UKCF'S operation from 8rant-makSng and Impact measurement, to communication, finance and membership services. We will improve the 5yStems used by members, especially our CRM which is managed centrally and requires development. Being able to operate in a smooth and agile way will benefit our members. and stakeholder5. 2. UKCF'S OBJEcfs, OBJEcfivES AND AcfiviTIES FOR THE PUBLIC BENEFIT During the year, the Board of UKCF has complied with the duty set out in section 17 of the Charitie5 Act 2011 to have due regard to the public benefit guidance published by the Charity Commission (England and Wales) when reviewlng UKCF'S alms and objective5 and in planning future activitie5. In partlcular. the Board has eonsidered how planned activities will cOntrib￿e to the aims and objectives they have set. The objects of UKCF are.. To promote and improve the efficiency and effectivene55 of community foundations in direct pursuit of their objectives, in such a manner as may be thought fit and in particular by raising and distributing funds for application for the general purposes of such foundations.. To advance the education of the publie in the work of such foundations,. and To promote other charitable purposes of benefit to the community. The changes ordifferences that UKCF seeks to make are: We are the only national network of funders with a physical presents in every part of the UK. We are part of. invest in and learn from those who know what need5 to be done in partnership with our local Communities. Harnessing the scale, impact and passion of our members to raise our profile, reputation and expertise is what UKCF doe5,. bringlng together the rich tapestry of community foundations across the UK to deliver a collective voice for all. Place-based funding is what makes our community foundatlons special. Our members are embedded in their place. understand the Challenges their communities face and UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUST£ES' REPORT are tirele55 in their pursuit of better opportunities for all. They pursue long term change for their communities and the people that live there. they can't do thi5 unless they understand the local context, work with others, manage multiple interventions and learn and adapt their approaches over time. Their intervention5 in¢lude making grants to charities and individuals, working in partnership with key stakeholders, encouraging local philanthropy to build endowment. Local philanthropy matters. Building local philanthropy is at the heart of what we do, so we can provide fundirsg to those who need it into the future. The first ¢ommunity foundation was set up in America in 1914, as a way for the Cleveland Trust Company to manage multiple small endowment5 for the beneftt of Cleveland. Like other philanthropists at the time, they had trouble finding beneficiaries for their grant5. and needed to improve efficiency. The solution they came to was to design a model that would look at the root causes of problems in communities rather than being cause specific, engage local people in decision making and be more efficient. This is the model we have today: multlple small endowments, held by community foundation5. Our endowments are crucial to communities as othèr source5 of funding reduce. 3. ACHIEVEMENTS AND PERFORMANCE 2020-2021 was one of the most challenging years UKCF and our members have had. Two weeks into the financial year the scale of the pandemic beeame evident, and the world went into lockdown. This brought a halt to busine55 as Usual as everyone tran51tioned to working from home. Emergency Fundlng In the Pandemlc The National Emergencie5 Trust (NET), one of our strategic partners, responded to the emergency by launching a fundraising appeal. By 18 April NET had raised £8.2 million which UKCF distributed to our members across the UK to support their comrnunities. By J une 2020, we distributed £30 million to members and. by October, £75 million from the NET Coronavirus Appeal. This was distributed by our members to nearly 11,000 charities and community groups acr055 the UK over that period. In addition, we dSstributed grant-funding from the Department of Culture Medla and Sport, Barclays, 31. Direct Line Insurance and the Worshipful Company of Weavers. We also distributed funding from our endowment funds, The Sir George Earle Fund and a Trust Transfer flow through funding from Sick Man's Friend So¢lety. Total funds of £79.5 million io UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT were distributed to our members for COVID-19 support and recovery work a¢ros5 2019-20 and 2020-21. The issue5 that received the most fundin8 during the pandemic were food and e55entials, mental health 5UPPOrt, information and advice, and digStal and social isolation. To distrlbute thls amount of fundlng durlng a very short tlmt was an achlevement. Dué to the Speed at which things happened, we werè building the systems for our coronaviru5 appeal programme, while it was underway. This led to our data Capture not being as ac¢urate as is should have been. We werechallengèd by Charitysowhite during the pandemi¢toshowthat we had distributed 20% of our funding to 8AME led groups. We re-analysed thousands of grants against more stringent criteria to establish whether we were close to the benchmark, Once thi5 exercise wa5 completed, it was proved that we had distrSbirted nearly 2tYA of our fundingto BAME led groups. It became apparent through our review that the infrn5tructure for BAME groups was less well develoFed than for other parts of the se¢tor. This led to NET establishing a BAME fund of £1 million, which we were dellghted to manage, to bulld links with BAME infrastructure organisations across the cosjntry to Increase our reach into those Communities. Stafflng We had been fortunate to move to Sharepoint in the period immediately before the lockdown,, this considerably aided our trar¢sition to working from home. However. during the year, we had to furlough two members of staff, who subsèquently both decided notto return to UKCF and unfortunately lost a number of other members of the team. This resulted in considerable pressure on the remaining team to deliver the unprecedented level of funding described above. We arè deeply thankful for their commitment during thi5 difficult time. We updated our staff policies and procedure5 to ensure we were delivering our duty of care to our team. This included the adoption of a mental health wellbeing app which provides range of sUPPOrt and advi￿ to our team tree of charge. We also held training 5e55ions for the team on workin8 from home, Increased our check Ins with Individuals and were flexible for thos• with home schooling or caring responsibilities. Once the immediate emergency passed, we began recruitin8 new team members, using blind récruitment tool called Beapplied and we now have eleven new people in the team. Having made the decision to become a remote organisation, we developed a new induction process and we have recruited from across the country, making our team more li UK COMMUNITYFOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES. REPORT representative of our members. Most ofthe new team replaced those members who left, but we have three new positions.. a Director of Business Development and External Affairs, a Director of Equity Diversity and Inclusion, and a Head of Digital. Members As wlth all membershlp bodie5, the challenges of managing 47 UK members and three overseas members are not to be underestimated. The pandemic provided opportunltles to increase our 5UPPOrt for members. The NET became our largest donor, providing unPre￿dented fundlng for our members and into their communities. The amount of teamwork required to deliver that programme was significant and the member5 pulled together magnificently. The Senior Leadership Team focussed on improving communication, including a weekly CEO'S update meeting on zoom attended by over 40 community foundations each week. In normal times, the CEOS would get together three or four times a year. $0 the opportunity to speak every week. share challenges and encourage each other. wa5 greatly valued by our members. The Programmes Team held weekly webinars with the grnnts teams across the ne￿ork. and our marketing and comms activity also increased dramatlcally. We provided tree access to our PR agency for any Community foundation r$qulring ¢risls communlcation5. We set up series of "CEOS, Conversations" which provided a confidential 5pèce for CEOS to share what they were most concerned about which was well received. Our leadership programme continued, albeit with a slight delay and in a remote form, and Cohort 3 has now graduated and satisfaction with the programme is high. We held consultatlons with members on the development of the new strategy, and our governance revlew. It Is pleasing to note that engagement has been high, facilitated by online meetings. We have engaged with trustees as well as community foundation staff. The Chair of Trustees has held numerou5 Chairs Webinars to build relationships across the network and to focus on topics of interest. including EDI and philanthropy. This has been important. as we have has many new Chairs of Trustees apF)ointed across the network. PR and Marketlng We appointed a PR agency. PHA. to build our profile and have been successful in appearing in a range of national newspapers and trade press. These included the Independent, the Financial Times, the Mirror, the I, the Charity Times and other5. 12 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES. REPORT Our social media presence has also improved. Since January 2020, our tweets have been viewed 1.082,000 times. This is up 172,000 on the same period last year which represents 16% increase. Since January last year our followers on Linkedln have grown by over 160%. Twitter followers have grown by 2.000 Since September 2019 which represents a 4LPA increase. We have published tsvo reports about the work of community foundatlons during the pandemlc, one as an update on the emergency fundin8 and a second sharlng the results of a survey of members, about the future p05t pandemie. We have launched a newwebsite and have updated our branding. Governance During 2020-21, we undertooka governance review, followingthe Charitycommisslon'scode of Governan¢e Framework. with an independent firm, The Connectives, advising us. We held consultation with members, including tru5tee5 of community foundation5. to discuss our challenges and to gather views from the network. The outcome of our work wlth The Connectives and members was a clear desire for a more diverse board of trustees at UKCF, elearer Selection and appointment process for UKCF trustees and a new set of article5. A new Nomination5 Commlttee was put in place to guide us through the trustee reeruitment process. We are required to have trustees from our membership in the majority on our board and have the capacity to appoint independent trustees to make sure the skills on thé board are appropriate for our strategic needs. We held an election at our AGM in October to appoint trustees from the membership, We then began the process to find independent trustees. At our June 2021 meeting six new independent trustee5 were co-opted and will be officially appointed at our AGM in November 2021. We would like to thank The Connertives for their work during this review. We would also like to thank Alan Banes from Howard Kennedy LLP for hls support and guldance In updating our articles and Tom Ward for his generous donation to help fund this 8overnance review. Further information regarding UKCF'S governance 15 provided in section 4 of this report. 13 UK COMMUNITYFOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT IT and Digital Transformatlon We have been working with Digital Wonderlab to develop a new digital transformation strategy. Consultation wlth members ha5 taken place and a skills audit acr055 UKCF has been undertaken. There Is considerable work to do in thi5 area, to improve our use of Salesforce, move into a "digital firsv, mentality and to improve communications betMeen UKCF and members. Data management wa5 highlighted as a weakness during the pandemic and is a priority area to resolve. We have undergone Cyber Essentia15 accreditation and will achieve Cybèr Essentials Plus accreditation by September 2021. We are building a communications hub for member5 and UKCF to access to streamline our multiple communication channels. We have appointed a new Head of Digital who will lead thi5 work on our behalf. The Revltall$in8 Trusts Programme The Revitalising Trusts Programme IRTPI was formed to help struggling trustees of inactive or Inèffective trusts to revitali5e their charitie5 and put their trust assets back to work for the public bènefit in local communitie5. The programme was overséen by a steering group made up of all three organisations involvèd with the programme: The Office for Civil Society Inow Civil Society arsd Youthl/DCMS, The Charity Commi55ion ICC) and UKCF. The steering group ran between January 2018 until the end of March 2021. Ineffective trusts are defined as trusts that are struggling to spend 3LVA of their income over five year peri¢)d. Inactive trust5 are defined as those that have no income or expenditure reported over five year period. The RTP, which began in january 2018 and continues today, seeks to release fund5 from these inactive and ineffectlve trusts in one of several ways. One of these ways, recommended by the CC, Is for the inactive trusY5 capltal to be transferred to the relevant community foundation. This is done through a streamlinéd process to enable funds to be released quickly and spent exactly as they were meant to be - on excellent projects at the heart of their Communities. SSnce its launch in 2018. the programme has revitalised £51.9 milliot) to help good cause5, with £21.3 million revitalised in Year 3 alone. Of this amount, £18.2 million has been transferred to the community foundation network and UKCF. The remainder has been revitalised through modernising the purpose of the relevant trust, with the trustees continuir¢g to provide local management, or the funds have been transferred to another local ¢harity. At the tSme of writing. UKCF and the netsvork has a substantial pipeline to work thr04J8h which we hope will result in an increase In endowment for a number ot foundations. 14 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT Towards thé end of 2020-21, progress had been made towards movlng trusts through to the final stages of the programme- when the CC enacts its powers to place UKCF as trustee for those trusts which have not responded. This Is an excitin8 development and we look forward to reporting on this in the next annual report. The RTP Is also developing across the UK, with the programme commencing in Wales. as well as Foundation Scotland and The Community Foundation Northern Ireland establishing their own verslons. UKCF is proud to be supportlng these foundations with this work, The programme has proved to be a major suc¢ess due to the partnership and funding from DCMS, and therefore the CC ènd UKCF have decided to continue with the programme permanently. To fa¢illtste this, UKCF ha5 employed a permanent member of staff to deliver the programme, which was previously delivered by an external consultant, underlying our ¢ommitment to the pr¢gramme overthe long term. UKCF Core Fundlng UKCF'S overall financial posltlon improved during the year, mainly due to increased income from the NET Programme combined with a close focus on costs and the inability to continue with certain projects durlng the pandemic. Whilst 1% was available, we detlded to take contribution of only 0.5% to overheads throughout the NET programme. The total value of grant-making available through the programme made it the largest programme we have ever delivered. and the 0.5% contribution helped to strengthen our finan¢e5 during a difficult time. CS Mott Foundatlon, John Armitage Charitable Trust and CCLA were the largest donors to core Costs and we continue to be very grateful to thesé wonderful organisatlons for thelr ongoing support. Membership Fees Our membership fee5 are based on a percentage of the endowment of each individual community foundation so that community foundations with larger endowments pay higher fees than those with smaller endowment5. This demonstrate5 the values of the network in that larger community foundations help to ensure the prosperity and growth potential of their smaller colleagues. Lower fees are charged to our overseas member5 as they have limited access to mèmbership benefit5 compared to our UK a¢¢redited members. 15 UK COMMUNifi FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES. REPORT Membership fees made up 27% of unrestricted income in the year (excluding pass-through income for IT subscriptions). UKCF Endowment As a result of the Revitalising Trusts Programme, UKCF holds £5.2 million12020', £4,0 milllonl In Its own endowment fund. This arises from transfers of inactive or dormant trusts which have a national or UK-wide objective. The endowment from these trust transfers is held by UKCF but the grants from the income generated are made by indivldual community foundations. UKCF receives an annual contribution to overheads for holding and administering the central endowment and the funds have been invested in CCLA COIF funds. The Community First Investment Committee la tommittee of the UKCF Boardl has oversight of the funds but reports regularly to the network. Fundralslng UKCF does not actively fundraise from members of the publle, and no third-party fundraisers are used by the Charity. Donations are. however, gratefully received and accepted. The majority of our fur¢dlng eomes directly from grant5 and other institutional funders. We have not received any complaints in respect of fundraising. We are registered with the Fundraising Regulator. Natlonal Pro8rammeg Over the past year, UKCF has continued to manage many national programmes for government or corporate donors, which are distributed by some or all our members. The grants made in respert of national programmes are delivered by members of the network rather than by UKCF itself. UKCF'S role is to arrange, administer and report on these programmes to the grantors who prefer to have a single point of contact. UKCF has consolidated relatlonshlps with funders and has successfully launched new programmes in additlon to the emergency funding described above, including with Made by Sport and the Departmentfor Dlgital. Culture, Media & Sport. Other programmes came to an end durin8 the year. including The Nationwide programme a5 they moved the programme inhouse. We are in the process of delivering the final report for Nationwide. We are very thankful to Nationwide for being flexible and allowing the partlcipating foundations to repurpose the funds towards COVID-19 recovery. 16 UK COMMUNifiFOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT For the year 2020-21. UKCF was responsible for programmes that distributed £81.7 million of charitable funding through thè organisation'5 national network of 47 community foundations and other partners. This figure ¢ompares Wlth £15.1 million in the previous year. the large increase being due to the NET Coronavirus Emergency Appeal. Thi5 funding was distributed on behalf of 13 different partners, tsvo more than last year.. 31: £0.2 million Barclays.. £l.O million Building a Stronger Britain Together IBSBTI. for the Home Office: £O.I million Cellnex: £O.I million Department for Digltal. Culture, Media & Sport Mat¢hed Fund: £2.2 million Direct Line.. ÉO.1 million Duchy of Lancaster.. £Q.I milllon #iwill Fund, for National Lottery Community Fund: £0.3 million Made by Sport.. £4.4 million National Emergencies Trust.. £73.0 million Sick Man's Friend.. £0.05 million Sir George Earle.. £O.I mlllion The Worshipful Company ofweavers: £0.03 million UKCF has been very fortunate to have partners who wereflexible durlng the pandemic. They allowed us to repurpose funding across the network 50 that the those most adversely affected by the pandemic could be supported. They also allowed for greater flexibility In reportlng for whi¢h both the ne￿Ork and onward grant recipients were grateful, 4. STRUCTURE, GOVERNANCE AND MANAGEMENT UKCF is a charitable company limited by guarantee with governance arrangements set oul in the company's memorandum and articles of association, UKCF is the national membership organisation for community foundations in the UK. Community foundation means a foundation established to gènérate funds from all sources lineluding money given to build endowment51, to provide grants for charitable purposes related to the need5 of a defined ¢ommunity. Community foundation5 thu5 provide 5ervi¢e5 to donor5 and engage with others to strengthen local communities. Full membership of UKCF is restricted to quallty-accredited community foundation5 in the UK. 17 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES. REPORT Some of ourtrustees are from our membership and some are independent, with members in the majority. We hold elections for UKCF trustees from our membership, whether they are trustees or staff of community foundations. Independent trustees are co-opted onto the board to bring experience and ski115 to bear that are considered necessary by the Board. This process is overseen by our Naminations Committee, Terms of ofFice are a maximum of three terms of￿0 years as a trustee. The Board meetings fit into the planning cycle so that the Board Can focus on developin8 strategy. approving the operational plan, aBreeing the annual budget and reviewing lessons learned. The Board of UKCF is the deci5ion-making body forthe company. The Board delegates powers to committees to recommend specifie decisions to the Board conslstent with the overall direction set by the Board. The committees in 2021>2021 were.. Nominations Committee charged with overseeing the recruitment of trustees and trustee training and development. Finanee. Audit and Operations charged with reviewing financial strategy and plannin& audit, risk, human resources and major ¢ontrarts, Community First Investment Committee charged with oversight of the UKCF endowment and the community foundations, endowment established during the Communlty First Match Challenge Programme Isee further below). All trustee5 have an induction and are encouraged to attend training provided for them. However. most of them are either a trustee of other charities or employed by community foundations and therefore have significant current knowledge of charity practice and regulation. We do welcome those who have not been a trustee before and we provide the support needed, including a "buddying" system to help them develop the skills required of a trustee. Two of our CO￿pted trustees have not held a trustee position before. Many of the UKCF trustees attend third sector 5emirsars and events and some are offered training and development opportunities by their relevant community foundation. All UKCF trustees attend UKCF'S Symposlum and the UKCF Conference whlth fall in alternating years. Both events have programme of plenary speeches and workshops deslgned to develop the skllls and knowledge of all attendees. In addition, the Board agenda Includes updates on charity governance matter5. The legal and adminlstrative information at the end of the financial statements forms part of this report. 18 UK COMMUNITYFOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT 5. INVEsfMENT POLICY UKCF'S investment policy is to build and hold a significant endowment fund, created to support community foundations and their communities now and for generations to come. The Intention is that UKCF will continue to develop its endowment from the transfer of dormant or inactive tru5tS Wlth a national reach. Although legally the endowment could be treated as expendable, it will be held as a long-term capitsl fund in perpetuity, to provide income for current and future grant-making and to contribute to admlnistration cost5. As an Incorporated charity, UKCF is unable legally to hold a permanent endowment. UKCF'S endowment was invested in CCLA COIF funds throughoutthe year and was moved to CCLA'S COIF Ethical fund in July 2021. UKCF operatés a total return policy which enables Investment Managers to invest funds for long-term growth. The objective of the fund is to produce as much total return as possible whilst seeking to maximise the long-term real value of the fund. The Community Flrst Investment Committee la committee of the UKCF Board) has oversight of the funds and meets twice a year. The committee consists of experienced independent investmentfund managers. The committee reports regularly to the membership network. In addition. UKCF has responsibility for the oversight of the Community First Match Fund Challenge endowment which is held by individual community foundations. Thi5 oversight has been delegated to the Community First Investment Committee and is also invested in CCIA COIF funds. 6. FINANCIAL REVIEW The statement of financial activities reports a surplu5 Of £1,524k12020.' £4.320k deficit), including an unrestricted Surplus of £248k12020,, £132kl. rhe majority of the surplus is made up of an increase In endowment funds of £1,230k which is due to some new endowment income and investment gains during the year. Total funds amount to £8,180k12020: £6,656kl. This Include5 unrestricted reserves of £908k 12020.. £660kl which is made up of £413k of free reseNe5 and £495k designated to particular projerts. Unre5trieted funds are used for the day to day operations of UKCF. Excluding the I subscriptions, which are a fully recharged cost to our members, the unrestricted funds show 19 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES. REPORT the income and expenditure required to operate UKCF. In comparison, restricted funds are pass through fund5 which we use for grant-making to our members, and, on very rare occasions. to other organisation5. The only exceptions to this are restricted funds related to the leadership programme and the revitalising trusts programme which d1￿CtlY support aetivites at UKCF. INCOME Total income from grants, donations and subscriptions increased to £83,179k {2020.' £11.897kl. This is due to the NET COVID-19 appeal which generated income of £73,584k in thè year12020'. £2.650kl and led to a record year for UK Community Foundations in terms of income and grant-making. Other large programmes that commenced in the year include Made by Sport and DCMS Match Funding. These replaced programmesthatended inthe prior year INationwide. Building a Stronger Britain Together and Tampon Taxl. Core funding increased Slightly from 2020 and The C S Mott Foundation, the John Armitsge Charitable Trust, and CCLA are to be heartily thanked ft)rtheir generous and continued support of UKCF. Additional income of £599k12020: £441kl Is recognised as related to endowment funds Ithis does not include investment 8ains1. The majority is held as an investment fund, but this also includes investment income which is used to contribute to UKCF overheads and to be used for grant-making. EXPENDITURE Total expenditure increased to £83,027k12020'. £16,533kl, as the result of increased grant- making from the NET programme. We delivered around 1,500 grants to our members Iwho then use each to make many smaller grants to 8roups in their local communitlesl, which is double the amount of the prèvious year, Unrestricted expenditure wa5 similar to last year at £1,289k. During the year Governance Costs were £29k 12020: £24kl. which included cost5 relating to the governance review dis¢ussed above. 20 UK COMMUNrrY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT RESERVES POLICY During the year the trustees reviewed the reserves policy. following the steps Outlined In the Charity Commission's guidance CC19 (Charity Re5er¥es.' building resilience). This involves.. taking a detailed look at the restrictions on the funds and assets we hold,. understanding the impact of risk; asse55ing the reliability of our sources of income and taking into account future plans. During the current year, this gave us a target range of £300k to £410k for our unrestricted general reseNes1£250k- £340k in 20201. This increase is due to the increase in size of the organi5ation, our commitments going forward and the slight increase in the uncertainty around pro8ramme income in the coming years. For comparison this translates to 3-4 months of unrestricted expenditure. The trustees believe this policy is a sensible balance between the need to maintain a secure long-term financial position and the desire not to hold excessive charitable funds that should be distributed. The trustees review the reserves policy every year. At the balance sheet date, the unrestricted reserves of UKCF were £908k, which includes £495k designated reserves and £413k general funds, just above the top of our range. The 2021-22 budget and projection for 2022-23 includes planned investment of the designated reserves into our new strategy. Designated Funds Total designated funds at the year-end were £495k12020: £36kl. Designated fund5 comprise the following funds set aside by Trustees of UKCF: £104k is set aside for investment in specific strategic projects. This includes work on our digital strategy, setting up the network-wide equity, diversity and Inclusion plan. and various communications and information gathering activities. These activities are vital to ensuring a successful start to our new strategy period. £250k is set aside for the digital transformation project, in particular the development of an improved CRM system for our network. The funds would be spent towards buildlng and implementing the improved System. This spend is expected to be split over the next two years. £141k is set aside for a potential return of funds related to the #iwill programme. This was a matched fund programme and the amount is under review. 21 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES. REPORT Restrirted Funds At 31 March 2021, UKCF held restricted funds of £2,025k {2020: £1,979kl reflecting funds that were received in previous financial years that will be spent on specific projerts in future years. For further detail see note 15 of the financial statements. Endowment Funds Funds transferred through the Revitalising Inactive Trusts programme IRTPI are held as endowment funds. The balance of thi5 fund at the end of the year is £5,247k12020: £4,017kl. The Sir George Earle Charitable Fund. which 15 held as a linked charity (Charity number 1004630-11, makes up the majority of this balance. The proceeds of the endowment funds are used to contribute to UKCF overheads and to provide grants to be made by individual community foundations. UKCF also has a second linked charity,. Aid for the A8ed in Distress ICh8rity number 1004630- 21. The funds for Aid for Aged in Distress are in the process of being transferred and a reasonable estimate of the value of the funds are included in these financial statements at £200k. 8. RISKS The trustees regularly review the major risks to which the charity 15 exposed. Systems and procedures are in place to manage these risks, with regular reports from the CEO at Board meetings. Mitigating actions are planned and prioritised and those with a f inancial implication are taken into account when setting the reserves policy. The key risks are associated with the financial, operational and reputational risks associated with the delivery of UKCF'S objectives. The most significant risk is a decline in income a5 a result of the loss of programmes or core funding grants. To mitigate the risks of a reduction of income, UKCF is actively pursulng new programmes and core funding opportunities. We have a new Director of Business Growth and External Affairs who 15 be8innin8 to build up a pipeline to secure funding for the future. Following the focus on the NET programme, a reduction in income Is expected in 2021-22 and plans have been agreed to enable us to reduce our expenditure as required during this period. In addition. with the transition to a home workSng organisation, there is currently strong focus on risks assoclated with cyber security and delivering our digital transformation project on 22 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES. REPORT time and to budget. We have recruited a new Head of Digital post to lead on this delivery and are working with Consultants to support the work. We will work to make our systems even more secure and provide trainin8 to staff in the first half of 2021-22, and plan to cbtain cyber essentials plus Certification. 9. UKCF GOING CONCERN The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continLte as a going concern. The trustee5 have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular, the trustees have considered the charity's forecasts and projections and have taken account of pressures on donation5 income, The COVID-19 pandemie has been a time of unprecedented grant maklng for UKCF. most notably we became the main distribution partner for the NET COVID-19 appeal alongside funding from other institutions. The core funding contribution from these programmes has enabled us to strengthen our finan¢es during a difficult time to ensure that we can continue to deliver going forward. After making enquiries the trustees have eoneluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Charity, therefore, continues to adopt the going con¢ern basis in preparing its financial statements. 10. PLANS FOR THE FUTURE As discussed in Section l of this report, we have developed a new strategic plan for the next three years. The below provide5 some more detail on.what activites we plan to undertake over the next three years. l. Strengthen the Network.. To ensure that each of our members has the skills and capacity to meet the needs of their communities by offering a range of services that add value to members of all 5ize5. based on member5 needs and interests. 23 UK COMMUNITYFOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT To develop tailored léarning and support plans for our members based on the results of OLtr quality accreditation process, which will be completed in October 2021 2. Bulld Profile: To improve our vlsibillty wlth government and other influencers to positlon community foundations as the partner of choice and experts on place based 50¢ial change by developing a policy platform and a clear unified voice. To build our network of partners and agree a policy platform with members 3. Unlock Resources.. To generate investment in the network from a wide range of donors and partners by building a strong case for sUPPOrt of community foundations and UKCF. With a focus on developing corporate, philanthropy and government partnerships who wish to focus their funding in local communitie5 4. Build a Thriving UKCF., to create an exemplar organisation that has the ¢onfiden¢e of members, is sustainable and a great place to work. by investing in our people, systems, processes, and leadership. To complete the transition to workln8 from home, focussing on digital transformation and robust trainin8 and development plans for the team 11. REMUNERATION POLICY The trustee5 consider that the Board of UKCF and the Senior Management Team comprise the key management personnel of the charity in charge of directing and controlling the charity and running and operating it on a day to day basis. All trustees give their time freely and no trustee remuneration was paid in the year. Details of trustee expenses are disclosed in note 12 to the accounts, Trustee5 are required to disclose all relevant interests and register them with the CEO or Company Secretary and, following UKCF'S policy, withdraw from decisions where a conflict of interest arises. The pay of the CEO is reviewed annually taking into a¢¢ount movement in average earnings and the relativity with the average salary of other employees. The remuneration of the CEO and her senior reports is bench-marked with grant-making charlties of a similar size and a¢tlvity to ensure that the remuneration set 15 falr and comparable with that generally paid 24 UK COMMUNITYFOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES, REPORT for similar roles. A cost of Ilving increase wa5 awarded to all staff who had been in post for year in April 2020. 12. IMPAcr UKCF'S impact is wn5idered in relation to the support we provide to our membership and the impact our members have on their communities Wlth funding provided by us. During the year, we focussed on supporting our members to deliver thelr work In the pandemic. We provided support to our CEOS by taking advantage of zoom to hold weekly update meetings, which was attended by approximately 40 of our CEOS each week. We also had confidential 5e55ions for CE05 to share their concerns with peers, which were greatly valued. We developed an open and supportive culture discussin8 the dlfficulties of managing teams remotely. mental health, along with operational matters. We engaged with the trustee5 of our members, running webinars, including them In ¢on5ultations on governance, strategy and digital transformation. As a result relationships have been strengthend across the network. Our members benefited from unpre¢edented levels of funding for communities during the year. UKCF secured the funding, managed the relationships with the donors, and worked with members to provide reports to the donors. The impact of the funding can be found in our o reports published during the year. available on our website. 2021 was an exceptional year, with challenges and opportunities. Our relationships with our members have been greatly enhanced and our understanding of them as individual organisations hès Improved. leading to us all being very optimistic fo the future. 13. TRusfEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The trustees Iwho are also Directors of UK Community Foundations for the purp05e5 of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice.) 25 UK COMMUNITYFOUNDATIONS YEAR ENDED 31 MARCH 2021 TRUSTEES. REPORT Company law requires trustees to prepare financial ststements for each financial year which give a true and fair view of the state of the affair5 of the charitable company and of its income nd expenditure for that period. In preparing these financial statements, the trustee5 are required to.. Select suitable accounting policies and then apply them consistently,. Observe the methods and principles the Charities SORP,. Make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards, including FRS 102, have been followed, subject to any material departures disclosed and explained in the financial ststements- state whether a Statement of Recommended Practice ISORPI applles and has been followed, subject to any material departures which are explained in the financial statements,. and Prepare the financial statements on the going ¢on¢ern basis unless it Is inappropriate to presume that the ¢haritable company will continue in business. The trustees are responsible for keeping proper accounting record5 that disclose wlth reasonable a¢cura¢y at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable company and hence for takin8 reasonable steps for the prevention and detection of fraud and other irregularities, 14. AUDIT INFORMATION So far as each of the trustees, at the time the trustees, report is approved, is aware: There 15 no relevant information of which the auditors are unaware; and They have taken all relevant steps they oughtto have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 26 UK COMMUNITYFOUMDAnoNS YEAR ENDÉD 31 MARCH 2021 TRUSTEES, REPORT 15. MEMBERS. LIABILITY Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of Members at 31 March 2021 was 46. 16. TRUSTEES, INDEMNITY INSURANCE During the year, trustees were covered by Directors, and Officers, insurance. 17. AUDITORS Haysmacintyre LLP has indicated their wllllngness to continue in office and is deemed to be reappointed in accordance with section 487121 of the Companies Act 2006, The Trustees, report, including the strategic report. was approved by the Board on 22 September 2021 Slgned on its behalf by .... Andrew Tuggey Chair and Trustee, UK Community Foundations 27 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 INDEPENDENT AUDITOR'S REPORT INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UK COMMUNITY FOUNDATIONS OPINION We have audited the financial statement5 Of UK Community Foundations for the year ended 31 March 2021 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and notes to the financial statements, including a summary of significant aceounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Unlted Kingdom Accounting Standards, including Flnan¢lal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statement5'. give a true and fairview of the state of the charitable companls affairs as at 31 March 2021 and of the charitable companvs net movement in funds. in¢luding the income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally A¢¢epted Ac¢ounting Practice; and have been prepared in accordance with the requirements of the Companie5 Act 2QJ6. BASIS FOR OPINION We conducted our audit in accordanee with International Standards on Auditing IUKI IISAS IUKII and appli¢èble law. Our responsibilities under those standards are further described in the Auditorfs responsibillties for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC5 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. Conclusions relating to going concern In auditlng the financial 5tstements, we have concluded that the trustees, use of the going corscern basis of accounting in the preparation of the financial statements is appropriate. 8ased on the work we havè performed. we have not identified any material un¢ertalntles relating to events or ¢onditions that. individually or collectively, may cast signifieant doubt on the Charitable Company's ability to continue as a going concern for a period of at least tsvelve month5 from when the financial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the trustees with respect to 8oln8 Concern are de5¢ribed in the relevant sections of this report. 28 UK COMMUNI￿ FOUNDATIONS YEAR ENDED 31 MARCH 2021 INDEPENDENT AUDITOWS REPORT Other information The trustee5 are responsible for the other information. The other information comprises the informatlon included in the Trustees, Report and the Chairfs Report, Our opinion on the financial statement5 does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the flnancial statements. our responsibility is to read the other information and, in doing so, consider whether the other information Is materially incon515tent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misststed. If we identify such material intonsistencies or apparent material misstatements, we aré required to determine whether there is a material misstatement in the financial statements or a material mi5Statement of the other information. If, based on the work we have performed, we conclude that there is a material misststement of this other information. we are required to report that fact. We have nothing to report in thi5 regard. Opinions on other matters prescribed by the Companies Act 2LX)6 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report Iwhi¢h Includes the strategic report and the directors, report prepared for the purposes of company lawl for the financial year for which the financial statements are prepared is consistent with the financial statement5.' and the Strategic report and the director5, report included withln the Trustees, Report have been prepared in accordance with applicable legal requirement5. Matters on which we are required to report by exception In the light of the knowledge and understanding of the ¢haritable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report (which incorporates the strategic report and the direetors, report). We have nothlng to report in respect of the following matters in relation to which the Companies Aet 2C06 requires u5 to report to you if, In our opinion.. adequate accounting ￿ordS have not been kept by the charitable company; or the charitable company financial ststements are not in agreement with the aecounting records and return5: or certain disclosures of trustees, remuneration specified by law are not made: or 29 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCH 2021 INDEPENDENT AUDITOR'S REPORT we have not re¢elved all the information and explanations we require for our audit. RESPONSIBILITIES OF TRUSTEES FOR THE FINANCIAL STATEMENTS As explained more fully in the trustees, responsibilities statement set out in section 13, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that thèy give a true and fair view. and for such internal control as the trustees determine is necessary tc enable the preparation of finaneial 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 charitable companvs ability to continue as a going concern, disclosing, as applicable, matters related to 80ing concern and using the going concern basis of accounting unless the trustees either Intend to liquidate the charitable ¢ompany or to cease operation5, or have no re8li5ti¢ alternative but to do so. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs 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 mi$5tatement when it exists. Mlsstatement5 Can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasorsably be expected to Influence the economie decisions of users taken on the basls of these firsancial statements. Irregularitie5, In¢luding fraud, are instanees of non-complianee with laws and regulations. We design procedures in line with our re5pon5ibilities, OLrtlined above, to detect material misstatement5 in respect of irregularities, includlng fraud. rhe extent to which our procedures are capable of detecting irregularities. including fraud is detailed below. 8ased on our understanding of the Charitable Company and the environment in which it operates, we identifled that the principal risks of non-compliance with laws and regulation5 related to the regulatory requirements of the Charity Commission. and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies A¢t 2006, the Charitie5 Act 2011, Charity SORP, and payroll taxes. We evaluated managemenY5 incentive5 and opportunities forfraudulent manipulation of the financial statements (including the risk of override of contro151, and determined that the principal risks were related to posting inappropriate journal entries and management bias in certain accounting estimates and judgements such as the income recognition policy applied to grant income, Audit procedures performed by the engagement team included: Inspectir¢g correspondence with regulators and tax authorities; 30 UK COMMUNITYFOUNDATIONS YEAR ENDED 31 MARCH 2021 INDEPENDENT AUDITOWS REPORT Discusslons with management including consideration of known or suspected instance5 of non-compliance with laws and regulation and fraud,. Evaluating management's controls designed to prevent and detect irregularitie5,' Identifying and testing journals. in particular journal entries p05ted with unusual account combinatlons, p05tings by unusual users or with unusual descriptions; and Challenging assumptions and judgements made by management in their critical accounting estimates. A further description of our respon5ibilitie5 for the audit of the financial statements is located on the Financial Reporting Council'5 website at.. www.frc.o auditorsres onsibilitie5. This description forms part of our auditorfs report. USE OF OUR REPORT Thi5 report is made solely to the charitable wmpany's member5, a5 a body, in accordance with Chapter3 of Part 16 of the Companies Act 2006. Our auditwork has been undertaken so that we might state to the charitable company's members those matters we are requlred to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Siobhan Holme5 Isenior Statutory Auditorl For and on behalf of Haysmacintyre LLP. Statutory Auditor 10 Queen Street Place London EC4R IAG Date.. 15 November 2021 31 UK COMMUNITY FOUNDATION5 STATEMENT OF FINANCIALACTIWTIES FOR THE YEAR ENDED 31 MARCH 2021 2021 End•wm•nt Funds 2020 Unr¢strktsd Furxl R•strlctqd Funds Tot41 T¢x&I INCOME AND ENDOWMENTS FROM.. Notos Grant5 NET Grant5 Donations Sub5crlptlons Ixher 390 430 83 345 193 8,572 78,154 12 8,962 73,584 95 345 193 8,578 2.650 8S 338 246 Total Income 1,441 81,738 83,179 11,897 Endowmenttransfer Investment iDcom@ ManageMe￿t Fee5 from ondowment 457 457 296 97 43 43 Total Irteome and ondowm•nts 1.485 81,836 457 83,778 12,337 EXPEP4OITUREOI4: Raising fund5 Icr seNI¢ès Memberseryltes ProlÈrtsand programmes Grant payments NEf Grant P3yments 77 222 945 45 77 222 82 220 46 ,715 72.977 91 8,715 72,977 210 12.463 2.650 Totll •¥pendlture 1.289 81.738 83,027 16,533 t4Èt I￿oMe/(eXpend[tur•j Transfef5 beiween fund5 Othér r£co4nlsed golnslllD5sesl'. Investmèntgalnsil1055e51 oTrfund5 196 52 457 751 14.1951 16 773 1,230 773 1,524 1125 14,1201 ReconclllatloTrof ftshd$ Tot31 Funds Brought Forward Total f￿dSCar11ed Forward: 660 1,979 2,025 4.017 S,247 6,656 8,180 10,976 6,656 14.15.16 No sÈpar310 Income and expendhure ¥c¢ouni, 3$ required under Companles Act ?￿6, L4 presented here 15 thè onlydifferencè bptween the net surplus forihe year of £751k12020.. deficit of £4,195kl and the nEt5urplus forihe year as deflned by the companles Act of £294k12020.. lo$5es £4,491kl Is incomefrom endowments of £457k12020.. £296kl. Allthe re5uhs ale derived from cotrtlnuSn8 act1¥k￿5. There were no reco8ni5ed 8alThs or losses Otherthanthose stated above. Afull compa¥ativè Staternent of Flnanck5 Artl¥ltle5 ts inc5uded at note 18. The note5set out on pa4es 35 to 50form an lTrt*gfal part of the5èflnanclal 51atemÈnts. 32 UK COMMUNITY FOUNDATIONS COMPANY NUMBER.. 26517?7 BALANCÉ SHE¥r AS AT 31 MARCH 2021 20 2020 Notes FIXED ASSErs In¥e5tments 5,047 3,817 Total f¥ed ¥sets 5,047 3.817 CURPENTJSSETS Debto Cash at bank and in hand 374 3,467 310 3,391 Total current assets 3.841 3,701 CURRENT LIA81LITIES Cwdttors.. Amountsf4llln8du• wlthlTron• y••r io 862 NEf CURREPIT ASSEFS 3,133 2,839 rorALNET ASSETS OR LIAèILITIES 17 8,180 6,656 Thelunds of tht th•rlty'. Total unre5irl￿ed fund5 14 660 Restrlrtod Incomèfunds 15 2,025 1,979 Endowments 16 5,247 4,017 TOTAL CHARITY FUNOS 8,180 6,656 ThefinaneialstatefflÈnts were >pproved and auth0ri5ed for issue by theTrustees on 22nd September 2021 and sIKned onthelr behaw by.. %v Tug8ey The notes set out on page535 to 50form an inte8ral part of the5efinancial 5tatement5. 33 UK COMMUNITY FOUNDATIONS CKSH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 2021 Nrt¢•$h Ilowfrom 09•r￿1n8•rtl¥rtIeS. Net Cash pfovidtd byllused inl operaiin8 3Ctlvitie5 533 13,3261 C•shllow from In¥ts￿r￿art1y[dQS Purchase trf Investments 14571 1961 Net cash (used in) Investin84ctwitles 14571 Net chfrn8e In cosh orHI ¢￿h equlv•lents Inthe r•porrln8 p•rlod 76 13,4221 Co5h •nd ta5hequlv4lent$4t th• be￿nn{ni of th• rqportlrq p•rfod 3.391 6.813 Cash and c4$heryulwlerti$ •1 the end olth* r•portln8 perfod 3.467 3.391 Aeconclll&tloTrof net IrKOtnellexpendrturelto n•t¢•th fl•w from Op•r•￿1￿•#IV1tse1 2021 2020 Net In¢omelIe¥peD¢J￿￿re> for the ieportlng perlod la5 perthe statement of flnancial artivitiesl Adju5tmentfor'. IGalnsl/losses on InvE5tm¢nts Ilncrea5el/decrea5e in debtor5 IDecrea5è11increa5e in credltor5 1,524 14,3201 125 304 565 1641 IL541 Net cash prowlded byllused Inl oper*ing a¢1￿*[e5 533 13,3261 An•ty$l1of Msh •nd ¢•sh •qulwl•nts 2021 Cash in hand 2,467 3.391 Total Cash and cash equwalents 3.467 3.391 Durill8 both the cur¥ent and prioryear, all cash and cash e4uivalents were held a5 cash at bafik or In h•nd. At no stage dld ihe Eh3rhy ha¥* any borrowlngsi In¢ludln&ovwdrafts andflnancel0as￿, durln8 thlstlme, t￿refOre no debi nthe has beern d￿loSed. The Dotes set out on page5 35 to 50form an integral part of th￿e*[nAnCIal statements. UK COMMUN11Y FOUNOAEIONS NOTES TOTHE FINANCIAL¥fAT£MENTS FOR THE YEAR ENDED 31 MARCH 2021 l. AccountlnsPolkl¢* Companylnfomiatlon UK Community Foundatlolls 15 a prwate company lirnited by guarantee Incorporated In England and Wales. The reg15tered office i5 Unh 1.04, 9 Brishton Terrace. London. SW98DJ. B•$l¥ of Pr•p•Mtlon The flnanclal statEments have been prepared under the historical cost conveniion (with the exception of Investments which are stated at market valuel and In accordance with the FlnaTrclal Reportina Standard applicable in the UK and Republic of Ireland IFRS 1021. The Charitable Company Is a publlc bengfrt entfty for lh• purposÈs of FRS 102 Ind lhe￿fOrÈ the Charity also prepared it5 financial statements In accordallce with the statement of Retammended Prartlce applicabl¥ to ¢harrfties prepirln8 thelr accounts In ie¢ordance whh the FIAancial Reporting 51andafd applicablè In the UK and Republlc of Irdand ICharf(ie5 SORP second edr(lonl, thè Companie5 2tXb andihe Charitie5Act 2011. Thè finan¢141 statements are prÈparod In sièrlin6, which Ls the functional curr•ncy of Charitablo Company. Monetary amounts In these flnèncl81 statements are roundedtothe nearest E'(KKI. Unk•d c￿rItI UKCF ha5 two IlnkÈd charltlès.. The Sir George £arlÈ Fund (Char￿Y nuFnber Icxm63￿1) and Aid for the Aged in Dtstress Icharrty numbèr loo463￿21. ThÈsÈ have brth been transferred as part of the Revit¥llsin8 Trusts pro8ran7me. The Sir Geoi8e Earl Fund has been fully traThsfÈrred and all Income and expendtture Is Included as part gf th*e flnancièl statements. The fund5 for Aid for Aged in Distre55 are in the proce55 of being transferred and & re￿onable e5titnate gf the value ofthefund5 are included ifj the5efinancial statemellts at £2CQk. Golnlcortcern The COVID-19 pandemic ha5 been a time of unprecedenied gram maklngfor UKCF. most n￿ablY we becamethe maln d￿trIbutIon partner for The Natlonal EmèrgÈncles Trust COVID-19 appeal alongside fundiTrg frorn other Instltution5 Ifull detall b included in the Trustee5 Report). Thè core fundlng contribution from these PfO8r3mmes has eiTrabled u5 to Strengthen our flnances durln8 a dlfflcuh tlme to @nsurÈ that WÉ can contlnue to dpllver golng for¥vard. ThÈ tru5tÈÈs have a5St55ed whèthèr thè USÈ of thè going coDcern ba5Ks ￿ appropdate and have considered P05slble events or cond￿10￿$ that might cast significant doubi on the abllity of the char￿Y fo continue as a going contern. ThÈ trustèès havè madé th15 35sèssment for a porlod of ai leagt one year from thè d3tÈ of approval ol thè tlnantlal statèments. In p8rtitular the trLStÉÈs havè Considèred the charlty's foieca5t5 and pralèttions and have taken dccount of pre55ure5 on income. After makin8 enoulrles the trustees have concluded that there L5 a reasonable expeuaiion that the charity has adequate r*ources to continuo In operational ¢xlstente for the for*eeable future. The charlty therefore contlnues to adopt the yin8 concern ba5r6 In preparing ks finartial Statements. Intome I￿orne senerafed frpm the suppty of good5 or se￿ice$ s included SD the statement of flnanclal artlvftles In lh¢ p•riod In whSch the suppty made. 5ubscription5 are ineluded in the statement of financial adivV(les when recdvable. Don*ions and grft5 to the charity are included in the Statement of flnan¢ial aClivitie5 when received. Intall8ible Incolne 15 reco8nised a5 ncome whore the provider of the sèrvitè has incurred a fi'nJntlal Cost. Genoral volunteertimo LE not included in the flnanclal statements In Ilne wtth the 8uidance sèt out Inthe SOAP. Grant5 are included in the 5tatemerrt of financial activitie5 whèn there ￿ an entitlement to the income, receipt i4 probable and rt can be quantrfied with reasonable accl1ra￿. Where 8Fani agreements Include a manasernent feelcontrlbutlon to oveiheads element thls Separate￿ recoyded o unréstrirtÈd Income ofthe charlty. 35 UK COMMUNITY FOUNDATIONS NOTES TO THE FINANCIALSTATEMEf4T5 FOR THE YEAR ENDED 31 MARCH 2021 UDre5trirted funds ère dDnatiorr& and other Income re¢eWed orBeneratedfor charttable purposes. Re5trittedfund5 are to be used forspeirfied purposes as bald down by the donor. Expendlture whlch meet5these ¢[ite￿a ts Ident￿ledttst￿e fund. Endowmert funds rÉflert funds transferred to UKCF whlch rèlate to the Revrfta1151ng Trusts Progr3mmÈ. The capttal m￿St be retalned by the charity however the Income from fund5 iDvÈ#ed partly rèpresems an uniéstrirt&d management fee at an 4reed r•te. Income ITr excoss of the unrestrlrted maTra8om4nt fpo restricted a5 set out in note 15. EKp•ndkuY• fxptrnditure is recognlsed in the ￿rI0& in which it i5 incurled. ExpenditurÈ Include5 attributoble VAT whleh canDot be ￿cOVered. Costs whKh are d*rectly related to 8Ctl¥kles are allocated to those attivities. FundralslThg costs comprlse a portion of CEO and Bu51ness Development Director salary based on an estlm8tè of tlme 5pellt working Wlth current and potÈNlal donors. ICT Services cost5 comprtsè C￿1$ dIrect￿ attributableto ICT cc￿Su￿ants1Qrthe Network's CRM system and costs related tothe CRM S￿1*￿ itsew. Memberyhlp 5efvice5 cornpr15e mainly stafflng and consultanry costs and other sèneral tosts related to our membership functlon5. Piojects and pro8rammts comprL%È fl¢)w-throu8h 8rants dk5tFibuted throughout the Commynlty Foundatlon Nètwork and staffln8aDd other cosrs, wherethesfr are specfflcaltyfunded by don0￿. The charftable company makes payments to deflned contrlbution pension sihetne5 on behalf of employees. The ¢¢ntributlons are ireated as an expense in the year in which they gre p8y3blè.Thè chayfty has no other obll6ation undÈrthes@ schèmes. Rentals payable under oper•in8 leases. where 5ubstantlally 811 the rfsks and rewards of own@rshlp remaln wvch the1È590r, are charged tothè Statèment of Flnanclal Acti¥f(ies on a straight line basis over the lease duratlon. In¥oStnwnts Investments held as flxed assets are revalued at market value atthe balancesheet date and the g8Sn or1055 taken tothe Stat¥mènt of FinaTrclal Actlvf(ie5. Cdtlcal Bcn SurviwTr8WlnteF Tgmtvn Tax Uber 4.935 4,945 15 15 19 1,677 19 1,662 440 109 235 412 2,650 636 235 419 2.650 641 12 502 108 12 1517 iio Totsl lorProl•cbaTrd Prow4hM 15,113 210 15,323 2020Totsl 15,113 L054 UK COMMUNITY FOUNDATIONS NOTESTQTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 6. St•ff ¢051sond numbers 2021 Total 2020 Totsl Sal•rlesand wages Soiia15ecurity costs Pensloncontrlbutlons 525 54 20 599 25 588 62 26 675 Redundancy costs Otherstaff ¢ost5, including recruttment 225 849 155 831 2021 2020 Numbèrof *rnplDyee5 earniD8 betwee Number of ernp4vype5 earning between Numberof employÈe5 e8rrln8 betwe¢n £l(Q,(W and £llO,( E80,OW and £90,(QO £60.0￿ afid £70.(XX) Thedverage Thumber of employees aMaly5ed by activitv: 2020 Charitable aci￿4t1&S 17 ia Key management pèrsonnel includés the Tru5tÉe5, the CEO and Senlor Mana8èm@nt TÈam.ThÈ romuneratton pald to the CEO and Senior Management Team amounted to £288k12020.. E287kl. The redundancy cost relatQ5 to a payment to ono member of staff. 7. Netlth¢ompllexpendlturel forthe yewr Thls b stated after ¢har8lng'. 2021 2020 Opèratlng lease rèntals Audftor's remuneration.. Currènt yeaf -statutory aiidit Prlor year- Statutory aud Current year-Tax advssoryseNices 12 io 41 UK COMMUNITY FOUNOAfioNS NOTES TOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 8. Inv•rtM+nts 20 2020 V•luatbn at l Aprfl Addition5 in year Net 8aln/l10551 on fevaluation 3,740 3,846 18 773 V•luBtton at 31 M•v¢h 4,517 3.740 Cash held by Investment mèna8èr C*h held In CAF bank 530 Total v*lu•tlonat 11 M•r¢h 5,047 3,817 All Inve5trnent5 are held with CCLA In COIF Char￿leS Investment Fund. 9. ￿bt￿r5 20U 2020 Trade and Sundry debtot5 VAT Recoverable PrePaym￿ts and accrued IncDme 359 18 75 216 15 374 310 10. CredltOTS.' Amountsl•1ll￿ dut ¥••r 2021 2020 Trade and sundry credltors Accruak and deferred income Soclal seCUr￿Y and othertaxes 370 3(ra 29 496 346 20 862 Includ￿ wi(hln So¢lal sectsrfty and othertèles ts £4,373 owing tothe penslon scheme12020.. £2.7631. Included wlth the abowe Is deferred In¢ome as follows: AMlys15 of deferred Incomt 2021 202Q Deferred Income brought forward Released to Incomè In yèar Deferrod Sn year 354 12411 163 6L 354 As at 31 M8r£h 2021 276 354 Deferred Income rèlate5 to incomefor gvalu•ion and monftorlngwork related to prograrnme5 which weie on8oin8 at the vearend. 42 UK COMMUNIIY FOUNDATIOP4S NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 11. Trtuteer•muntr•tlon and expen5e5 140 members of the boafd12020.. 111, and no Corn￿rt￿ee MeMbe￿I2020.. 51 recefved reimbursement of travel expense5 to attend rneetln85,th15 amounted to£nll12020.. £15kl. No Member of the board12020.. £nlll recelved Temuneratlon. Most trustees are a150 etthertrusteesoremployees of our member Organ￿atIOnS (see note 121. Total donatlons reCe￿@d from trustoès amounted to £nll12020..£nlll. 12. R•lat•d p•kw tr4n$a¢tlon UKCF ￿ a fflember5hip or8ani5ation which extst5 to serve its rnember5. Some of ouf tru51ees are 3[50 involved ITh lotal Communty Foundations, Il$ted below, which are members of UKCF. Dayto daytransaction5 such a5 mernber5hip fee5, licellce fee$ 3nd grant payment5. take pl4ce bètwèèn UKCF and it5 members. ThÈs* transa¢tltsns af@ on thè samè basls as tho othèr mombèrs. If 6￿C￿￿on5 madè about transactions wrth Indwidual Community Foundations whore trustees may have conflict of InterESt, Ihls Interest ts declare(S and the trustee not involved In the declslon. Trusi•e N4m• Toby All5truther Mlchelle Cooper Commut)lty Foundatlon Foundatlon Scotland County Ourham Communlty FouTrdatlon Two Rldlngs Community Foundation Communfty Foundatlon Northem Irèland Communlty Foundatlon Northern Ireland Community Foundatlon Northorn Iréland Northamptonshire Cornmunity Foundatlo Sussex Community Foundation Cemmunlty Founditlon for Merseyslde & Lancashlre Oxford5hire CorDmunity FouDdativn Suffolkcotnmunlty FoundatloTr Sussex Comn7unity Foundaiion Community FouDd3tlon Wales Cornwdll Comrnunlly Foundatlon Devon Communlty Foundatlon Niamh GDg8ln John Gordon Andrew M¢Cr•¢ken Vlctorla Mlle5 Kevln Richmond Arthur Robert5 Oavid Ro55ill6ton Stéphèn Sin81￿0￿ Markspoffort AndrewTuggey Tom Van 055 Martha Wilklnson 13. Operntln8leaye romm5tments Total annual commff(mtnts payabk undèr opèrating 1È￿@S arè as follows Lend and Bulfdlr zozi 2020 Other 2021 £'ooo 2020 Opèratlng l@3585 whl¢h eKplrè ihan l year Between 1-2 year5 Between 2-5 yèars 46 46 16 46 46 62 154 43 UK COMMUNITY FOUNDATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14. Unrestrlcted D•slan•t•d Fund5 At L Aprfl 2020 lrtcom• I Oth•rg•1Th5 E¥pendlture I Other l0sse5 At31 MArch 2021 Tr•nslers Unrestrlcted Funds.. General fund5 D•$lÈnited FLmd$'. CRM Trainin8 and Development Str*egic Development DIBttal Tra￿fOrmall0n will Pro8ramme 624 1.485 1,253 14431 412 36 36 104 250 141 104 250 141 TotDI 660 1.485 1,289 52 The $trategS¢ de¥elopment des18nated fund5 are for investment specrfk str8te81¢ proletts Includlng In the area5 of equlty, dfveYsrt¥ and IDclu5ioD, communicatlons and advocacy aCtIv￿les. The designated funds rel*in8 io dl8ttal transformatlon are forthe devdopment of an imPToved network-wide CRM system. The #iwill programme desi8natod funts are a potential rwurn of funds relatin8 to an on8oin8 nÈgotl¥tlon ibout the matched fundlng of CommuDity Fotsndatlon management f*. At i Aprll Z019 Incom*1 other 8•ln5 ExppndltLwe I Other ILwes At 31 MaKh Transfers £￿00 Unreslrlcted Fur￿$.. General funds •518mted Funds-. CRM Tralnin8and Development 514 1.363 1,253 624 14 22 Total 528 1,385 1,253 660 44 VK commuN￿y FOUNtJAT1014S NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 IS. Re5trl¢ted fund5 i Aprti 2020 Inr the Covld-19 appeal wogramme. The overall aim ol thè pro8r3mmè L5 to effectlvely and efflclently 5UPPOrt local volulltary and communlty org3Thlsatlong th•t aré helpln8 vUlnera￿e people impacted by the covid-19 crisls. Thè NET EDI Infrastruture Fundin8 i% for grani makin8 to BAME led Infra51ruaure 8roups. The NET Government Fund speciflcalty relates rOf￿ndS re¢eleved from the 816 Night In Fundfai5er. Oak F￿ndatIon The Transformatlon & Growth Fund will fund voluntary and cornmunEty or8anlsatlons seNlng those at rlsk of homelessne$5. Thè fvnd is i capactty buildlng programme to Sncrease organlsatlons. reslllepce and 5UStain3bility to 5UPPOrt peO￿e in vulnerable housinlsituations. R•vlt411sln8Trugts DCMS providethl$ 8rantto support the RevialislwTrusts Programme whlch È run In partnèrshlp wlth thè Charty Commlsslortr. Rw•l London The Royal London Foundatloll partners with UKCF to deliver the Corporate So¢181 Responslbllity 5trate8V that awards unre5trKted fundin6 of up to £5k to local or8afji5ations, whh annual turnover under £5LX)k and • local comMun￿V Impaet, In partlcular supportlTrg people with a chronic or long-term condttion. Slck M•n's Frf•nd Funds recefvéd from Slck Man's Friend Sociètywem to pui towards Commurtity Foundation Covid-19 related programme5. SUN￿1n￿wInt•I Thg Survfvlng Wlnter campalgn b funded by donatlon5 tho publlc to ralse money for pensioners affettÈd by fuql poverty. Grant5 are rnade by vur memberorgin￿allofi5. T•mpvn T•x Funded via DCMS through the VAT levied on santtary products, UKCF & maklng grants across the UK, InvestlnÉ in a wide variety ol prolÈctsthat btrnefft women ènd Blrls, and that make a t8n8lble and long-tèmi difference to heatth, Wel￿be￿ngand confidenee. Th•Wor¥hlpful ¢omwTry ofWe•veTS A donatlon Was recèived from the Worshipftsl Company of Wo3vors to pui tow4rd5 the Ctsvi&L9 related proy3mmes In 5pecffl¢ Communlty Foundation local are*. UK COMMUNITY FOUNDAVIONS NOTESTOThE FINANCIALSTATEMENTS F041 THE YEAR ENDED 31 MARCH 2021 16. E#dowrnent Fu￿5 Incom•1 Other gJln5 E¥pend4turel Other10sse5 Net 6ilnJ/ (Louesl At 31 M•rch 3021 At Apdl 202Q Sif George Earle Chathable Fund Edtscatlon Fund Relief ol PoveTty Fufid Cen¢ral Fund 3,725 18 4,493 7> 679 51 4(6 272 T￿￿1 End1￿mI￿t 4,017 457 773 5.247 Incomel oth•r 8*lns Expendltum I Other10sse5 Ntt Galk7s/ (Losse51 At 31 Mir¢h 2020 AtAprfl 2019 r GÈor8e Earle Chtrltable Fund Educ3tiofi Fund Relief of Poverty Fund Central Fvnd 3846 3,725 19 272 21 272 Tot*1 Endowm*ntFunds 296 11251 4,017 A5 part of the A￿ltaIls1￿8 Trusts Programme with thè Char￿¥ Commisslon, the Slr Geor8e Eaflè Charltable Fund wa5 transferred to UKCF In 2018-19 and multlple other smaller valuè funds have been trarb5ferred to UKCF durln8 2019-20 & 202￿21. Investmènt Income from these funds ale spent in attord3Trce wlth thelr inltlèl restrlctlon5 prlor to tFansfÈr 10 UKCF. More detall on the restrlctlons relatlnB to the Sir George Earle Fufid can be foufid in note 15. Income from the new funds in 202(>21 must bè spent respertivety cn Educatlon, Relief of PoveityoTmore br04dtyfor the Central Fund. 17. Analysls ol nrf•ssets betsyeen funds Unr•strl¢t•d Rertrl¢tsd Endowmont Net current a5set5 In￿Stments 2,025 200 5.047 Not I￿*$ at 31 Morch 2021 2,025 5.247 UDr¢strfct¢d Re¥trlcted Endowm¢nt Net current assets In¥estm¢nts 1.979 2(KJ 3,817 Net e55Ets•t31 M•r¢h 2020 660 1,979 4,017 49 UK COMMUNttY FOUNDATIONS NOTES TOTHE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2021 18. Compai4tl¥e St•i•m¢nt gf Flnonclal A¢tfvltl¢s IYI March 20201 2020 R*Jtrkted £ndowrnenl Funds Funds Unrestrlctsd Fund Totsl INCOMEAND EtIDOWMENT5 FROM.. Grants Er Grants Donatlor6 Subs¢ilpiions Othei 39 7,￿2 2,650 7.941 2.650 85 338 85 338 883 Total Income 1,345 10.552 I1￿97 Endrwment transfer Investment Income Mana8emont Fe￿froM ondowment 296 296 97 97 rotsl IrKorne •nd endowments 1,385 10,657 296 12,337 ExpeNDITUVIÈ ON.. Rai51ns funds ICTseNices Mtmbèrservlces Projècts and pro8rafflme5 Grant payments NET Grant payments 82 220 82 220 43 167 12,463 2,650 210 12.1163 2,650 rotal expen(tlwr• 1,253 15,280 16,533 Not Inconellexpendhurel Transfers between fund5 Other re¢oBn15ed ylnslllp$s•sl'. Inve5trnent gain5111055esl A￿u￿rIal IIos5es118alnson deflned benefft penslon s¢h@mes Not movemvnt ull fund$ 132 14*231 14,1951 11251 132 14.fj2Jl 171 143201 ReMn¢fjl4tl¢4n ollund$ Trfal Funds Broughr Foywird Tot•1 Ful￿5 C•rrfed Forw*Yrf: 528 660 6,602 1.979 3.846 4,017 10.976 6.656 50 UK COMMUNITY FOUNDATIONS YEAR ENDED 31 MARCfrI 2021 REFERENCE AND ADMINISTRAMON DETAILS REFERENCE AND ADMINISTRATION DEfAILS Status: The organisation 15 a charitable company limited by guarantee, incorporated on 7 October 1991 and registered as a charity on 11 October 1991. Governin8 document: The organisation was established under a memorandum of asso¢iatlon on 7 October 1991 and amended on 2 December 1993, 17 July 1996. 21 October 1998, 19 January 2000, 27 April 2001, 23 April 2003. 17 November 2010, 19 March 2013, 16 November 2016 and 10 December 2020 which established the objects and powers of the organisation and 15 governed under Its articles of association. Company number: 2651777 Charlty number: 1004630 Registered Office and Operatlons address: Unit 1.04, 9 Brighton Terrèce, London, SW9 8DJ. Honorary Officers: Chair- AndrewTuggey CBE DL (from 22 October 20201 Acting Chair- Victoria Miles (from 30 September to 22 October 20201 Chair- Drjerome Booth Ifrom 24 July 2019 to 30 September 20201 Treasurer- Colin Seccombe MBE Members of the Board: Toby An5truther Dr Jerome Booth, Chair (to 30 September 2020) Michelle Cooper MBE lfrom 22 October 20201 Jan Garrill Ito 22 October 20201 Niamh Go88in (to 15 June 20201 John Gordon (from 28 July 20201 Andrew Mccracken (from 22 October 2020 to 10 December 20201 Victoria Miles DL. Vice-chair (to 22 October 20201 John Nickson (to 22 October 20201 Profe550r Paul Palmef Ito 22 October 2020) Kevin Richmond (from 22 October 20201 51 UK COMMUNITYFOUNDATIONS YEAR ENDED 31 MARCH 2021 REFERENCE AND ADMINISTRATION DETAILS Arthur Roberts Ito 22 October 20201 Timothy David Rossington Ifrom 22 October 20201 Colin Seccombe MBE, Treasurer Stephen Singleton David Mark Spofforth lfrom 22 October 20201 Andrew Tuggey CBE DL (from 24 June 20201 Thoma5 Van Oss (from 22 October 20201 Marthè Wilkinson (to 22 October 20201 Chief Executlve: Fabian French (to 9 April 20201 Rosemary Macdonald (from l March 20201 Company Secretary: lan Smith Bankers: CAF Bank Ltd, Kings Hill, West Malling, Kerst ME19 4TA Investment Bankers: CCLA. Senator House. 85 Queen Victoria Street, London EC4V 4Er Audltors: Haysmacintyre LLP, IOQueen Street Place. London EC4R IAG 52