THE FUNDING NETWORK (Company Ilmfted by guafantee no. 04046959 reglstered charlty no. 10883151 REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
THE FUNDING NETWORK (Company Ilmlted by guarantee no. 04046959. registered chartty no. 10883151 REPORT AND FINANICAL STATEMENT5 FDr the year ended 31 Marth 2021 CONTENTS Pa8e Reference and administrative informaiion Ch3irf5 Statement 8oard gf Tru5tees' report Audltorfs report 13 Staternent of financial actIlIeS 17 Balance Sheet 18 Cash flow statement 19 Notes to the flnandal statements 20
THE FUNDING NETWORK Iregristered company no. 040469591 REFERENCE AND ADMINISTRATWE DETAILS OF THE CHARirY. ITS TRUSTEES AND ADVISERS For the year ended 31 March 2021 Board of Trust•es Mr S Lush, Chair (appointed 20 June 20171 Mr M Chuter (appointed l March 20161 Mr A Coles OBE (appointed l June 20171 Mr X Solidum lappointed 3 October 20181 Mi S Sinha lappointed 16Apfil 20191 Mrs A Clarke. Deputy Chair (appointed 16 April 20191 Ms FJ Johnston lappointed 17 September 20191 Ms O Aig-lmoukhuede (appointed I September 20201 Mr J Babarinde (resigned 28 Au8USt 20211 Company Secretsry Ms Carollne Swanson (appointed 30 October 20191 Chlef Ex•cutlv• Eugenle Harvey Company r4. tho. 04046959 Chaflty re8. no. 1088315 ReBlst•r¢d Offlc• Toynbee Hall 28 Commercial Street London EI 6LS Audltor Knox Cropper LLP 65 Leadenhall Street London EC3A 2A0 8ank•rs Triodos Bank 11 The Pr¢)menade Bristol BS8 3NN COperatIVe Bank PO BoX 250. Delf House Southway, 5kelmersdale WN86
THE FUNDING NETWORK IrÈgistered company no. 040469591 CHAIA'S STATEMENT For the year ended 31 March 2021 I have a sense of consiilerable pride while writing this statement to accompany the audited accounts for the period ending 31 Marth 2021. Buoyed by the support ol the Board of Trustee5 and of our loyal individual and corporate members, the small TFN team rose to the challenges of the global pandemic and delivereij one of the most outstanding years in TFN'S 19wear history. The successful move from live to virtual crowdfvndin8 events. necessitsted by SLtstalned periods of lockdown. created new opportunities which will be the bedrock of futllfe gr0h. It is a great pleasure to share highlights of the vear and to acknowledge w*th gratitude the support which ha5 enabled us to have such widesprea Impact at a time ol imrnense need. TFN'S total direct contrlbution to soual change in the UK In 2020-21 was £583K. This compare5 to £481k in 2019.20. Taking into account events held in the UK and those or8anised by our International Afflliates, £15.3 mllllon h35 now been raised for 2.248 social change projects at 594 events woildwide since TFN wa5 founded In 2002. UK artltIeS The move from Ilve to vlrtual events led to a 66% Increase in attendance and a 70% Sncrease in funds raised at our Fla8ship London events Iwhich of course reached muth further than London, belng dellvered virtually) compared with the 12 months prior. At a stroke. we were able to increase the funding target for charitles from £6.OC#J to £10,0 with Many charlties substantially exceedlng the higher tar8et, th15 belng one of our key 51rate8ic priorities for the year. The average grant we paid io charlties In 2020- 21 Increased from around £7.000 to more than £16.LKKI at Flagship events. At a time when many small charltle5 were fightlng lor survival. this could not have been more welcome. Increases In attendance and funds raisÈd have In turn led to many more inquiries about membership and an increase in the quantlty and quallty of chaty applications. I would Ilke to make special mention of the vital role our cory)orate partners played In this SLt¢cess. T. Rowe Price, Rathbone Greenbank Investment5. Macquarie, Mishton de Reya LLP, EQ Investments and OrtOPU5 contributed 8enerous match funding to the tharities which pltched at the events (funds which are given on the basis that they will be "matched" by others). whith had the effect of acceleratin8 the 8ivin8 and ensurln6 we achieved the £10,000 targets. Of course. the Impaa TFN ha5 on charltles is far ereater than the funds we ralse for them at our events. In preparation for the triennial Swan Appe31 launched to Members in April 2021, the team undertook analysis of the Smpact report5 from charities funded in 2018-20 which has shown that, 96% of charities reported that the skills they developed a5 a result of the traininB we provlde le.g.. pitch training. proposal writin81 and new contatts they made le.g. with long term donor5. pro bono support Secured and. in some cases, new trustees) increased thLyr organizational capacity to raise funds over the longer term li.e. beyond the event). 65% of charities levera8ed additional funding as a direct result of pitching at TFN. This might have been as a result of a new rel3tion5hip with a donor. thelr ablllty to prove their concept with TFN funds and therefore be eligible to bigger trusts for larger grants, or because they had more capacity for fundraising capacity and a stamp of approval from TFN
THE FUNDING NEfwoRK (registered company no. 040469591 CHAIR'S STATEMENT For the year ended 31 March 2021 the total figure reported as leveraged as a Consequen of pitching at TFN between 2018-20 wo5 £2.965m. This is more than double the amount raised at the events. Comments such as this from Rhiannon Kearns, of Li8htyear Foundation funded at our 18th June 2020 event underline thi5. We ore so grotefvlAor the support ol TFN- not just in prep0ratn for the event. OT the inspirlng events themselves, but thefollow up supportinportictslorts wonderful ond9reotly tspprecioted. In a yeor of such UnrtaIntyfor smoll chorities, weleel 50 lucky to work with TFN. The success of virtual events also meant we were able to hold planned events Wlth partners focu51nB on issues Includlng the envlronment, LGBT+ rights and strengthening the soclal enterprise sector, again at time when these issues were at risk of neglert. EFN Live raised £51,699.75, City for LG8T+ raised £26,039.51 and two Crowdbacker events raised a total of £45,864.86. We fast tracked tFie launch of the Black Funding Network18FNI wlth TFN Member. Patrlcia Hamzahee, In le5S than 12 months, two BFN events have raised over £50,000 for six black-led tommunity.based projects. I'm proud that we are able to support this vital and timely inltiative by sharin8 our model and providin8 back-office support, while allowin8 the small 8FN team to focus on building their donor base and lundrai5in8 for thelr own core costs. InternJtlon•l actbvltl Oursuccess In the UK had a very positlve lrnpatton ¢>ur International Affillates. In the last year, 30+ virtual TFN events have taken place in countries as diverse as Hungary. Peru. New Zealand, Germany, and Ru5sla with many more planned for the coming year. While we were disappointed that a number of planned Study visits to London had to be cancelled, we were very pleased to be able to dellver tralnln8, peer learning and general support to OUT affiliate network using Zi>om. Since 2012. 328 international TFN events have raised an estimated £6.2m for 1072 soclal chan8e projects. This would nol have been possible wlthout the vision and steadfast support of the Marie.Louise von Motesic2ky Charitable Tnjst and the Charles Siewart Mott Fotsndation which have jointly funded TFN Intematlonal for the past nine years. I would also like to acknowledge the support of the Frederick Mulder Foundation whlch was also one of the e3rly lunders ofTFN International and which now fvnds the Stafter Grant programrne through which our Sntemational Affiliates may apply for a grant of Cl,W) toward5 the costs of their ftrst three evenLS followin8 training from the LIK team. Looklng to the future Looking to a post pandemic future, we are excited about plans which will be enabled by funds ralsed through the 2021-23 Swan Appeal for which again. l extentl my ithmense gratltude to TFN Members.
THE FUNDING NETWORK (registered company no. 040469591 CHAIR'S STATEMENT For the year ended 31 March 2021 Our first priority 15 to sustain the momentum we have created with our move to wrtual events and the benefit5 they deliver- such as increa5inR our reach whilst pawng the way back to live events whlch glve us vital opportunities for hurnan connettion. It is likely that TFN events in the future will be a combination of live. virtual and"hybri(r (simultaneously live and virtuall offerlng Member5 and donors the option of how they take part. To deliver thls, we are making investmewrts in our technical capabilities and staff capaclty. Our second priority is to Brow our individual and corporate memberships. Mernbers are the driving force of TFN. creating an Impart that is far greater than the sum of it5 parts. With a 70+% Increase In the number of people attending virtual events, we have a very healthy pipeline and a key objective over the comin8 year is to increase our staff capacity and digital systems to enable us to take full advantage of thls. We will also revlew the e¥istin8 individual and corporate membership offerings to ensure they are offering value and enabling Members to have rnaximum impact on the issues and organi5atlons they ca about. Growin8 our membership is also key to our long term 5UStainability. Membership fees are a vital component of our earned income, which In turn 5UPPOrts our core costs. ThSrdly, we want TFN to be tru transformational, nol purety transactional. The 8lving or receiving of a (lonation at an event is an opportunlty for a far deeper connection between a donor and a charlty and we want to ensure that we create the opiimum conditions for this to happen. Again, we will achieve Ihls through Investment In both our digital capacity and HR capacity. Thank5 I would like to conclude my report by expressing my gratitude to those without whom none of thls would have been possible. Flrstly, to the funders who have generou51y supported TFN'5 core costs throu8hout the past 12 month5 and demonstrated such flexibilily and care towards our work Brooks Foundation. T&J Meyer Familv Foundation, I Paul Getty Jr Charitable Trust, EnniSmO Foundation, Green Room Foundation, Rathbone Greenbank and the Frederick Mulder Foundation. And as I mentioned earlier, TFN International is funded by the Marie-Loulse von Moteslciky Charitsble Trust and the charl Stewart Mott Foundation and again I thank thern for the best part of a decade's support. Secondly, I would like to make special mention of our former Chair, Mlchael Maynard who ha$ played an integral rose ai events throughout the pandemic. leading the pled8lng on many occasions, providing much needed continuity and connection for us all. and lending immense 5UPPOrt to the team for which I know they are deeply grateful. A5 always. l am deeply grateful to my fellow Trustees who deploy their time and expertise generously in service to TFN and the charitie5 we support. There have been many extra meetings and unprecedenteil challenges these past 18 month5 ond the support of Trustees throughout. in addition to heavy workloads and challÈn8in8 personal orcumstan5. has been key to our su¢ce55 this year. There have been two changes in the past year. In August 2020 we bade a Sad farewell to 105h Babarinde after three years of Service but were deli8hted to welcome Ofow•¥e Aig-lmoukhuede the following month.
THE FUNDING NETWORK Iregistered company no. 040469591 CHAIR'S STATEMENT For the year ended 31 March 2021 Lastly, I want to acknowledge the hard work of the TFN ieam which for most of the pandemic numbered just three. In particular, Eugenie Harvey, ¢)ur CEO and Jennie Jeffery, our Events and Partnerships Manager. Eugenie and lennie were supported by Matt Francis who covered for our Finance and Grant5 OfFiter Solly Hoang who was on maternity leave followng the birth of baby Koby in August. In November, we welcomed Stephen Drury as Digital Engagement Manager and he is in the process of overseeing eKitSng improvemenis to our digital operations. Next year is our 20th anniversary and I have never felt more excited about the future our transformatSon plans a5plie to make TFN a leailer in global philanthropyl When Fred. Sue, P8uI, and Polly started TFN In 2002. they were pioneers of a movement towards giving more collaboratlvely and effectlvely. 20 years on, we are buildlng on this solld foundalion. Our 51Bhts are set high and we will be trylng several Innovatlve ideas to ensure our approach to partnerin8 Wlth grassroots charities Is effeetlve, Impactful and long-la5ting. Sam Lush Chalr
THE FUNDING NEfwoRK Iregistered company no. 040469591 BOARD OF TRUSTEES. REPORT For the year ended 31 March 2021 The Trustees Iwho are also the Directors of the charitsble company for the purposes of the Companles Actl present their combined Directors, report anil Trustees, annual report, as required by company law, together with the audited financial statements of The Funding Network (the company) foi the year ended 31 March 2021. The Trustees confirm that the Annual Report and financial statements of thè cornpany comply with the current statutory requirements, the requirements of the company's 8overnin8 document and the provislons of the Statement of Recommended Practice 'Accountin8 and Reporting by Charlties, ISORP IFRS 102 second edition- effective January 201911. The Trustee5 and Directors Reports have been combined under Companies Art 2006. OBJECTIVES AND ACTivmES Oblectl¥es The Funding Network 15 •n open network which Ilnks donor5 to charltable cause5 and 50clal entrepreneurs. It aims to: raise money for orgèni5ations creatln8 Social chan8e,' provlde a public benefit by educatlng attendees at events about soc131 change projetts,. entourage an Increasin8 number of people to en8a8e in attive, intelli8ent philanthropvl help indlvidua15 make an Impact by enabllng ihem to combine thelr 8ivlng with others. TFN carrles out Its lon8-term objectNes through h05ting -crowd funding events" which were delivered live prior to the pandemic ènd virtually throughout periods of lod(down. In the future, it is likely they wlll be delivered live, virtually and in "hybrid" format. TFN'S events are open to everyone, and which ralse funds lor charitable causes and social entrepreneurs. Roisinq money Organisations nominated by TFN'S Members app1 to present at events and agree to 80 throu8h a selectlon process. The application process is a simple tWO-Pa8e fomi submitted online, followed by a selection panel (which includes a small number of TFN Members? which condutt5 a brief interview by phone with shortlisted non-profits. In 2020-21 an independenl review of TFN'5 charity selection process, Includin8 due di1Sgence, was undertaken by Emma 8eeston. The review was extremely positive in its findings and the small number of recommendatlons for Imprnements are being fully implemented. In February Members were able to èttend a briefing session vlth Emma Beeston to hear her flndings and recommendarions first-hand. Her report is available wa the TFN website. Selected organisatlons are given Six minutes to present their cause at an event (five minutes at a virtual event), followed by six mrnutes for qLtestion5 (again. five minutes at a virtual eventl. Non-prtsfit5 are informed of the funds raised shortly after the event and receive the full amount with Gift Aid Iminus TFN'S levyl within 12 weeks.
THE FUNDING NEfwoRK IreElstered company no. 040469591 BOARD OF TRUSTEES, REPORT For the year ended 31 March 2021 Informing attendees M051 TFN evenis are open tothe gerseral public as well as members. through online re815tratlon. Attendees receive an infomiation pack about the Pfesentin8 non-profits in advance of the event. The information gives details of all the causes and their fundin8 requests 2nd live events allow spate for attenijees to talk informally to all the presentin8 Causes. Attendin8 an event and donating alongside other people en3ble5 attendees to learn from the philanthropy of other5 as well as to influence others wlth their own preferences and philanthropic expertise. Attendees enjoy he3rln8 directly from the soclal actSvlsts involved wlth the presenting organisations. and often meet end-beneficlarie5 too. Engogement in octive plUnthroPY TFN Mèmbers can nomlnate non-profits or causes and have a sponsIbl11tY to guide the applicatlon proces5. Selettlon panels are made up of Members who put themselves forward and represéntatives of partner organlsations, Steered by TFN'S CEO or a Trustee. Member5 are also encouraged to contribute to events by volunteerin8 in variou5 capacities. includln8 sharin8 insi8hts into thelr phllanthropy and championing projerts they have nominated. The aim is to create a positive. Informative and insplrin8 enrOnrnent so that first-time attendees enjoy the collectlve 8ivlng experience and wish to return, irrespectlve of whether they have given at the event or not. Collective impoct Donors come together to have a collective irnpact throu8h their 8ivln8 at TFN events. Small donatlons and larger gifts help create a single Brant made by TFN to the presentin8 organisation towards the speciflc funding needs outlined. All selected projecrs are nominated by TFN members and evaluated on thelr model of soclal change, the level of Impact they create for their beneficlaries and their appeal to potential donors attendin8 TFN events. Not only do or8anisations presentinB at events ctiVe most or all of the funding they ask for, but they also bulld relationships with donors, who sometirnes provide valuable expertlse, tontacts and additional fundin8. At fflost TFN events. an organlsation funded at a prior event report5 back to the audience on the Impact of the finantial and pro-bono sUPPOrt they received. Publlc Beneftt The Trustees confirm that they have referred to the Charty Commission's general 8uldance on public benefit when reviewin8 the charity's aims and oblective5 and in planning future activities. The Trustees ensure that TFN'S sooal change mlssion is carried out for the public benefit through the ¢reation of funding events whlch support sm311 charitable organ15ations that arm to enable enduring P051tive transformation for individuals, ¢ommunsties. andlor society and the enwronrnent over the long terrn. This support Includes ralsing funits, the development of new skills le.8. presentation training), access to new networks and the opportunity to secure pro bono and other Voluntary support. Exarnple5 of or8anisations supported include those which= address issue5 of inequality and disadvantaBe,' create advocacy I campaigning I dissemination to change society for the better: aim to find a new / better solution to an underlying problem-
THE FUNDING NETWORK Iregistered company no. 04(16959> BOARD OF TRUSTEES, REPORT For the year ended 31 March 2021 locus on personal development to change the way beneficiaries act and live,. pilot solvtions with the potential for expansion to support many more people. Our charitable or8an15ation Is primarity Set up to SUPPOrt'. the beneflclarfes of the tharftable OTganisation5 funded at Our events, in health, education, human rights. crime preventton, environment. livelihoods and inclu5ion.' the attendee$ at our events who discover new or8ani5ations to support, learn from the philanihropy of others and engage in active philanthropy. Our events are inclu%ve and anyone may register to attend or become a TFN member. TFN also provldes a valuable service io civll society Broups worldwide through fts Internatlonal pro8rarnme, as described previously in this report. FINANCIAL REVIEW Result lor the year There was an increase in funds for the year amountlng to £10.958. The final tTanthe of the last Swan Appeal was utilised as the or8anisation continued to invest in its infrastructure. helped by an increase in unrestricted income. Thls has Increased unrestricted general reserves to £98,469 which meets the reserves policy as set out below. D•talls of Reserves TFN is a small and nimble or8anisation that relies on a comblnation of membership fees, levy income and grants to sustain k5 artiviiles, as earned income alone would not allow us to continue operatin8. Thls means that If there were to be a gap In eamed Qf fundraised income, it Is likely that the charlty would have to close down. To avoid closure in case of temporary fundlng difficultles. staff lon8-term absence due to illness or parental leave, the Trustees have a8reed to keep a certain level of financial reserves to ensure that main operations can continue for a period of 3 to 6 months. The main concern of the Trustees is to ensure that Staff can Continue workin& primarily to secure new funding for TFN and the charities It supports. In furtherance of which, tfustees have set a mithmum reserves target of £60,C0 and an optimum tar8et of £90,OCKJ. Reserves have been built In pan from the legacy of the late Venetia West Estate received in 2012. The level of reserves is being reviewed every 3 months by the Trustees at their reBular meetings. This policy is reviewed yearty to reflect any ss8niflcant changes to the charity5 work and circumstances. The Trustees anti¢ipate that the COVID-19 outbreak in February 2020 and the subsequent health and financial crisls ensuin8 a5 a result may have an on-going impacl on the Charity's incoming resources and resources expended in the comin8 year5. They have considered the likely impact on its incoming resources and how the chartty can react to that impact and are collfident that it has sufficient reserves nd enough flexibility to ensure that It can continue to exist for the foreseeable future.
THE FUNDING NEfwoflK Iregistered company no. 040469591 BOARD OF TRU5TEES' REPORT For the year ended 31 March 2021 Most of the Brant funders that TFN relies on in order io operate have confirmed their tommitment to continue supportlng the organi5ation. In addition, there have been significant un501icited donatlons and the targets for donations in the first few events of 2020-21 have exceedetl the budgeted figures. Should difficulties arise in the current financial climate. it has been calculated that reserves of £60,000 would be needed to cover ihe costs of windlng UP the orKani$8ti0n. 5ks The Tru51ees have assessed the major rlsks to whlch the tompany Is exposed. in partlcular those related to the operations and finances of the company and are satisfied that Systems and piocedures are in place to mitl8ate our exposure to the major rlsks. The Board of Trustees regularly reviews and assesses the risks faced by TFN in all areas of its work and plans for the mana8ement of those iisks. Risk is an everyday part of charitable activity and managlng it effectSvely Is essentlal if Trustees are to achieve their key obiectlves and safeguard TFN'S funds and asset5. TFN'S risks relate primarily. but are not limited to, the financial antl operational p051tions of the tharity however external circumstance5 such as uncertainty due to the on-80in8 Impacts of the Covld.19 pandemic are also considered by Trusiees. PLANS FOR FUTURE DEVELOPMENT Over the financlal year beginnlng l April 2021, TFN'S aims are as follows= ro increase our dl8ltal capability, particularly bullding on the success of dellvering our events virtually during the Covid-19 pandemic as well as lookin8 at how we use digital communicatlons to dellver tTainin& build our audience, ond enter into new partnerships To use this as the b05b5 for ambitiQUS growth and dlver5iflcation of our Membership both indivldual and corporate To play a greater role In addressin8 Svstemic racism, through our own governance and operations, through the diversificatlon of our membershlp, through the partnerships we enter into (for example vdiih BFN) and through the charitles we support at our events. To continue to work in partnership with UK community foundations to pilot the establishment of a UK network of TFN groups based on the model established through our International work. To continue to support our existlng network of international Affiliates, growing the network and encoura8in8 further innovaiion with the vlrtLJal and hybrid event model. To prepare for a celebration to mark the charity5 20 anniversary In 2022. STRucfuRE, GOVERNANCE AND MANAGEMENT Constltu¥on The company is constituted under a Memorandum of Association dated 3 Augtjst 20CK) and 15 a registered charity, number 1088315.
THE FUNDING NETWORK Iregistered company no. 040469591 BOARD OF TRUSTEES, REPORT For the year ended 31 March 2021 The charitable object5 of the company are to pay or apply the funds of the company to or towards or in Furtherance or advancement or for the benefit of such one or more charlties, charitable instltutions, or charitable purposes and if more than one in such shares and in such manner a5 the board of d&rectors of the company thereafter in their absolute discretion from time to time shall respectively 5elett and think The princlpal aim of the company is to provide a public crowdfundin8 forum which.. acts a5 a 'marketplace' to which indlvlduals bdng projects that work towards a fairer, healthier and more sustalnable world,- provides a mutually respectful settin& where those who mi8ht like to join wlth others in funding such projects get to meet and hear from those doin8 the work,. promotes a paradigm of social change givin8.' that those who have much can usefully share thelr wealth in creative and proactive way5. and that the process of 8lvin8 can be enrichingto the glver as well as the receiver. It achleves this by runnln8 events land supporting others to run events) for the public benefit. bTin8in8 potential donoT5 together with smaller charities and social enterprise5 in need of fundin8, and encoura8ln8 donations to be pledged and support in.kind facllitated at each event. Trustees The management of the company Is the responslblllty of the Trustees who are elected and co-opted under the terms of the Articles of Associatlon. All the Trystees are familiar wth the organisatlon and its operation before being apFbolnted Trustee5. Trustees are recruited according to the skills. knowledge and experience required. Existing Trustees identify where gaps need lo be filled. such as those relating to an area of governance. Candidates gre intervSewed by the Chalr, another Trustee and ihe CEO. Each new Trustee receive5 a full induction and a detalled Information pack, Charity Commission's Essential Trustee leaflet. minutes for previou5 Board meetin85, a copy of TFN'S Memorandum & Articles of Association, a copy of TFN'S Pollcies and the most recent annual accounts. New Trustees are also offered the opportunity to receive trainlnB appropriate to thelr and TFN'S needs and to spend time in the TFN office observing the organisètion's operations. Trustee5 serve an initial tem of three years and are eligible for three further yeats. Organisation and Mana8ement The Funding Network h85 eight Trustees. Trustee meetings are held four time5 per year. Papers clrculated between and before each meeting are used to keep the Board infomied about development5 and prepared for any key decisions required. The Board sets strategy and policy for member5hlp recruitment, grant making and financial rnatter& io
THE FUNDING NETWORK (registered CpanY no. 040469591 BOARD OF TRUSTEES, REPORT For the year ended 31 March 2021 While Trusrees Bovern the organisation, the day-to-day running is delegated to tts staff. The Funding Network staff for the majority of the year comprised four pernianent roles (Chief Executive Officer, Events and Partnerships Manager. Finance and Grants Off icer. and Communication5 and Membership Coordinator), however when the pandemic struck, the Communications and Membership Coordinator was put on Furlough Idue the fact that she did not have sufficient experience in the role to deliver It remotetyl and the position was 5ub5equently made redurtdant. In November 2020, a newly recruited Digltal Engagement Manager joined the team. Staff members are responsible for en5urlng that the Trustees. decisions are implemented in actordance with existing policy and within budget, and for brieflng Trustees on current trends in the charilable sertor and advisin8 on how these may affect policy. Key mana8ement at TFN comprbses the CEO and the Trustees. Remuneration forthe CEO Is benchmarkeil gainst that ol other slmilar organisaiions and adjusted after a performance review conducted by members of the board. Trustees are not remunerated. The Fundin8 Network is based in London and administers a number of dlspefsed 8roups in ihe UK and abroad which are fun by dedicated local volunteers. TFN events held outside of the UK are admlnistered by partnerin8 charitable or8anisations rather than TFN and are therefore not reflected in the Statement ot Financial Actlvilles that follows. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Board of Trustees ts spOnsible for preparing the Annual Report and the financlal statements in ccordante wlth appllcable law and United Kingdom Generally Accepted Accountin8 Practice. Company law requires the Trustees to prepare tinancial statements for each flnanclal year whlch give true and fair view of the state of affairs of the charitable company and of the Incomin8 resource5 and appllcatiorh of resources, includin8 the Income and expenditure, of the tharitable company for that perlod. In preparing these flnancial statements, the Trustees are required to: select sultable accountln8 politles and then app them conslstentty. observe the methods and prlnciples In the Charities SORP- rnake ludgmenis and estimates that are reasonable and prLtdent', state whether applicable UK ac¢ountin8 Standards have been followed, subject to any material departures discl¢)sed and explained rhe financial statement5,' and prepare the fin8ncial statements on the going concern basls unless it 15 Inappropriate to prèsume that the charitable company will continue in business. The Board of Trustees has overall re5ponsibilrty for ensurin8 that the Charity has an appropriate system of controls, financial and otherwise. The Trustees are also responsible for keepin8 adequate accounting records which disclose with reasonable accuracy at any time the financlal position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, the Charity (Accounts and Reports) Regulation$ 2008 and the provisions of the governin document, They are also responsible for Safeguarding the assets of the Charity and hence for takin8 reasonable steps for the detettion and prevention of fraud and other irregularities. li
THE FUNDING NEfwoRK Iregistered company no. 040469591 BOARD OFTRUSTEES, REPORT For the year ended 31 March 2021 The Boord of Trustees is responsible for the maintenance and inte8rity of the corporate and tinancial inlormation included on the Compan5 website. legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from le8islation in other jurisdictions. In so lar a5 the Trustees are aware: there is no relevant audit information of which the charitable company'5 auditor Is unaware,. and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant aydil information and to establish that the auditor 15 aware of that information Thls report was approved and authorised for issue by the Board of Trustees and signed on its behalf by.. Samuel Lush, Chalr Date.. 12
THE FUNDING NEfwoRK (registered company no. 040469591 INDEPENDENT AUDITOR'S REPORTTOTHE MEM8ERS OF THE FUNDING NETWORK FOR THE YEAR ENDEO 31 MARCH 2021 Oplnlon We have audited the firtanci31 statements of The Funding Network Ithe 'charitable companVI for the year ended 31 March 2021 which comprise the statement of financlal actlvities. the balance sheet, cash flow and notes to the financial 5latements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation Is app11cable law and United Kingdorn Accountin8 Standards, including Financial Reporting Standard 102 Tre Finunciol Reportin9 Stondord upplicoble in the UK ond Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinlon, the financial statements: glve a true and fair view ol the state of the charitable CoMpanS affairs as at 31 March 2021 and ot its Incoming resources and application of resources for the year then ended,. have been properly prepaied in accordance with Unlted Kingdom Generally Accepted Accountln8 Prattice,. have been prepared in accordance with the requirements of the Companies Att 21x16. Basls for oplnlon We conducted our audit in accordance with International Standards on Audlting IUKI IISA5 IUKII and applicable law. OUT responsibilitles under those standards are fvrther described in the Auditor, responsibillties lor the aLKlIt of the flnancial statements sectlon of our report. We are Independent of the haritable company in accordance with ihe ethical requirements that are relevant to our audit of the flnancial Statements in ihe UK. including the FRC'S Ethlcal Standard. and we have fulfilled our other ethlcal responsibilities in accordance with these requirements. We belleve that the audit evidence we have obtained is svfflaent and appropriate to provide a basis for our opinion. Concluslons rebatln8 to golng concern In auditing the financial statements. we have Contluded that the trustees, use of the 8oln8 concern basis of accountlng in the preparation of the financial stalements is appropriate. Based on the work we have performed, we have not identified any material uncertaintles relating to events or conditlDns that. individually or tollectively, may cast significant doubt on the charitable company's ability to continue as a 8Oln8 concern for a period of at least twelve months from when the financial statement5 are authorised for iSSLSe. Our responsibilities and the responsibllllies of the trustees Wtth respert to goin8 concern are described in the relevant sertions of this report. Other Informatlon The other infofmatK)n comprises the information included in the annual report, other than the financial Statements and our auditor's report thereon. The trustees are responsible for the other information. 13
THE FUNDING NETWORK Iregistered cornpany no. 040469591 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE FUNDING NETWORK FOR THE YEAR END£D 31 MARCH 2021 Our opinion on the financial statements does not cover the other information and, except to the extent otheTh4ise explicitfy stated in our report. we do not express any forni of assurance contlu5ion thereon. In connertlon with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whethei the other information is materially inconsistent wlth the financial statements, or our knowledge obtained in the audit or otherwise appears to be materi31Iv misstated. If we identify such material inconsistencies or apparent material misstaternent5, we are requireé lo determine whether there is a material MItatement 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 mT55tatement of this other information. we are required to report that fact. We have nothin8 to report in this regard. Oplnlons on other matters prescrlbed by the Companles Art 2006 In our oplnion, based on the work undertaken in the course of the audlt: the information given in the trustees, report, whlch includes the directors. report prepad for the purposes of company law, for the financial year for which the financSal statements are prepared is conslstent with the financial statements.. and the directors, report included wilhin the trustees. report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptSon In the li8ht of the knowled8e and understanding of the charitable cornpany and its environment otrtalned In the course of the audSt, we have not Identlfled any materlal mlsstatement5 In the dlrettors. report included withln the trustees, report. We hève nothlng to report in respect of the followir& matters in relation to which the Companies Act 2006 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 tinanclal statements are not in agreement with the accounting records and turns,. or certain disclosures of trustee5' remuneraiion specified by law are not made- or we have not received all the infonmation and explanations we require for our audit,. or thÈ trustees were not entitled to prepare ihe financial statements in accordance with the small companies regirne and take advantage of the small companies. exemption from the requlrement to prepare a Strategic Report or in preparin8 the Report of the Direciors 14
THE FLINDING NETWORK (registered company no. 040469591 INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE FUNDING NETWORK FOR THE YEAR ENDED 31 MARCH 2021 Responslbllltles of trustees As explained more fully in the trusteo. responsibilities statement set out on page 11, the trustees (who are also the directors of the charitable comp3ny for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for stjth internal control as the trustees determine is necessary to enable the preparation of financial statement5 that are free from material mi55tatement. whether due to fraud or error. In preparlng the financlal statements, the trustees are responsible for a55essSn8 the companws 3bllity to continue as a going concern, dlsclosin& as applicable, Matter5 related to going concern and using the 8oln8 concern basis of ac¢ountin8 unless the tru5tee5 either intend to liqu5date the company or to cease operations, or have no realistic alternative but to do 50. Audltoes re5ponslbllltle$ for the audbt ot the flnanclal statements Our objectives are to obtain reasonable assurance aboLtt whether the financlal statements as a whole are free from materlal missiatement, whether due to fraud or error, and 1015sue an audltor's rèport that includes our oplnlon. Reasonable assurance is a hlgh level of assurance but is not a guarantee that an audit conducted in accordance wlth ISAS IUKI will aayS detect a maierial misstatement when It exists. Misstatements tan arise from fraud or efror and are considered materlal if, Indlwdually or In the aggregate, they could reasonably be expected to Influence the economlc decislons of users taken on the bèsi5 of these financlal Statements. Irregularitles, includlng frautl. are Instances of non-compliance wlth laws and reBulations. We desi8n procedures in Ilne with our responsibilities. outlined above, to detect material misstatements in respett of Irregularltles, indudin8 fraud. The exient to which our procedu5 are capable of detectln8 Irregularities, includin8 fraud is detailed below.. The Charitable Company is required to comply with both company law and charlty law and, based on our knowledge ol its activities, we identified that the le8al requirement to •ccurately account for restricted funds was of key si8nihcance. We gained an unijerstanding of how the charitable company complied with Its le8al and regulatory framework, including the reqtjirement to properly account for restricted funds, through discussions with managemenl and a review of the documented policies, procedures and control5. The audit team, whtch is experienced in the audlt of Charities, considered the charitable company's susceptibility to rnaterial rnisstatement and how fraud may octur. Our consideration5 included the risk of management override. Our approach was to check that all re5tritted income w35 properly identified and separatelv accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions. A further description of our re5pon5ibilities for the authit of the flnanclal statements is located on the Flnanclal Reporting Councll'5 website at." www.frt.or auditorsr nsibilities. Thi5 description form5 part of our auditorfs report. 15
THE FUNDING NtrwoRK Iregistered company fto. 040469591 INDEPENDENT AUDITOR'S REPORTTO THE MEM8ERS OF THE FUNDING NETWORK FOR THE YEAR ENDED 31 MARCH 2021 Use of OUT report This Teport is made solety to the charitable compan5 rnember5. as a body, In accordance with Chapter 3 of Part 16 of the Companies Act 2(K16. Our audit work has been undertèken, 50 that we might state to the Charitable company's members those matters we are required to state to them in an auditorfs report nd for no othef 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 body, for our audit work, for this report or foi the opinions we have fornied. Simon Goodrid8e Isenlof Statutory Audltorl For and on behalf of.. Knox Cropper LLP Chartered Accountants & Statutory Auditors 65 LeatJenhall Street London EC3A 2A0 Date: 21112121 16
THE FUNDING NETWORK Iregistered company no. 040469591 STATEMENT OF FINANCIALACTIVITIES IINCORPORAMNG THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 March 2021 Unrestritted Funds 2021 Designated Funds 2021 Restricted Funds 2021 Total Funds 2021 Total Funds 2020 Note INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable activities Other trading activSties Other Grants Investrnents TOTAL 45,578 20,635 27,51XJ 721.342 794,420 20,635 698,296 26.143 800 8,404 185 74,802 8,404 185 823,644 214 725,453 27,5CKI 721.342 EXPENDITURE ON.. Ralsing Funds Costs ol generating voluntary income Charltable activitles Grant-making TFN UK Events TFN Internatlonal TOTAL EXPENDITURE 6.145 6,145 12,740 47,988 106,169 583,354 631,342 106,169 69,030 812.686 527,396 104.770 75,878 720,784 69,030 652,384 160,302 Net Incomellexpenditurel before rransfers Transfer between lund5 NET MOVEMENT IN FUNDS I85,5) 94.529 27.5CKI 146.5411 119,0411 68,958 147,9881 20,970 10,958 4,669 16 4,669 RECONCILIATION OF FUNDS TOTAL FUNDS AT I APRIL 2020 89,440 19.041 12,203 120,684 116,015 TOTAL FUNDS AT31 MARCH 2021 98,469 33,173 131,642 120,684 All income and expendlture has arisen from contlnuin8 activities. Pages 20 to 34 include the Notes to these accounts. 17
THE FUNDING NEfwoRK IStered company no. 040469591 BALANCE SHEET For the year ended 31 March 2021 2021 2020 Notes NON-CURRENT ASSETS Tangible Fixed Assets 12 4,412 5,448 CURRENT ASSETS Debtors Cash at bank and in hand 13 49.018 263.514 43.534 261.396 312,532 304,930 CAEDITORS.. amounts falling due within one year 14 1106,7471 166,1391 Deferre(J Income 15 178,5551 1123,5551 NET CUARENT ASSETS 127,230 115,236 NET ASSETS 131,642 120,684 FUNDS Unrestricted fund5: 0esl8nate(J funds General fund 16 16 19,041 89,440 108.481 12,203 120,684 98,469 98,469 33,173 131,642 Restri£ted funds 16 The financial statements have been prepare(J in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small compan¢es and the Financial Reporting Standard 102. Pages 20 to 34 include the Notes to these accounts. The financial statements were approved and authorised for Issue by the Board of Trustees on 8112121 and siBned on their behalf by-." Samuel Lush, Chair Registe Company Number: 04046959 18
THE FUNDING NETWORK (registered company no. 040469591 CASHFLOW STATEMENT For the year ended 31 March 2021 2021 2020 Cash flows from operating activkties Surplus/ldelicitl lor the finanoal year Adjustments for.. Depreciation Charge Ilncreasel/Decrease in debtors Increase/(Dec3sel In creditor5 Investrnent income 10.958 4,669 1,457 15,4841 14,3921 11851 2,354 1,373 113,0331 154.8421 12141 162,0471 Cash flows fTorn investing activitie5 Return on inve5tment- interest receivable Purchase of tangible assets 185 14211 12361 214 16.6451 16.4311 Net Increase/lde¢rea3•1 In $h and cash equlvalents 2,118 168,47BI Cash and cash equivalents at l April 2020 261,396 329,874 Cash and cjsh equlvolent5 at 31 March 2021 263.514 261,396 Al Components of ¢¥sh and cash equl¥alents Cash at bank and in hand 263,514 261,396 Bl Anitysls of changes In net debt At l Aprfl 2020 261,396 261.396 sh and Cash Equlvalents Cash Cashflows Non-cash Changes At 31 M•r¢h 2021 263,514 263,514 2,118 2,118 19
THE FUNDING NETWORK (registered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 I. ACCOUNTING POUCIES Basis of preporution offinonclolsrotements The financlal sratement5 of the charity. which is a public benefit entity under FRS102. have been prepared under the historical cost conventhon. They have been prepared in accortjance wlth applicable United Kingdom atcovnting standards, the requlrements of the Statement of Recommended Prattice 'Accounting and Reporring by Charitie5'1SORP FRS 102 second edition), In accordance with the Financial Reporting Standard applieable in the UK IFRS 1021 and the Charities Att 2011. The Trustees consider thai there are no material uncertainties about the Trust's ability to contlnue as è going toncern. In formin8 this opinion. they have considered the impact of the COVID-19 pandernic on both its income and expenditure for at least a period of twelve month5 from the date of approval of these financial statements. Compony stotus The Fundin8 Network 15 a company Ilmlted by guarantee. In the event of the Charlty beln8 wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. Fund occounting General funds are unrestrlcted funds which èle avallable for use at the discretion of the Trustees In furtherance ol the 8eneral objectives of the Charity and which have not been de5igna¢ed for other purposes. Designated funds comprise unrestricted funds that have been Set aside by the Trustees for particular purposes. The alm and use ol each designated fund is set out in the notes to the financial 5tatementS. Restricted funds are funds which are to be used in actordance with speciflc restrictions imposed by donors which have been ro5sed by the Charity for particular pur]Se$. The cost of adrnSnisierln8 such funds is tharged a83inst ihe specific fund. The aim and usè of each restricted fund is set out in the notes to the flnanclal statements. Statutory grants which are 8i¥en a5 contributions towards the Charlty's core services are treated as unrestricred. rungibleAlxed ossets und depreciotlon Depreciation Is provided on all tangible fixed a55ets at rate5 calculated to write off the ¢05t on a straight-line basis over their expetted economic life as follows.. Office Equiprnent- 5 years Computer Equipment- 3 years IncGminq resources All incorning resources a Included in the Statement of Financial Activlties whon the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 20
THE FUNDING NwoRK I8151ere(l company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 Donated facilities are included at the value to the Charity where this can be quantified, and a thSrd party 15 bearing the cost. No amounts are included Jn the financlal statements for servi$ donated y volunteers. Donated Services are included in intome at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a thir¢J party. Income tax recoverable In latiOn to investment income or Gift Aid donations 15 reco8ni5ed at ihe time the relevant income 15 ceivable. Resources expended All expenditure 15 accounted for on an accrua15 basls and ha5 been Induded under expense categorles that a8gre8ate all costs for allocatlon to activitles. Support costs. whlch cannot be direttly attributed to particular activities, have been apportioned proportionately to the dlrect staff costs allocated to the activities. Governance costs include the costs of seThicing Trustees, meetings, audit and 5trate8lC planning. Irrecoverable VAT15 charged a8alnst the cate80ry of resources Èxpended for which it was Incvrred. Pensions The company 15 Part of a defined contribution pension scheme. Contributions are char8ed to the Stalement ol Financial Activitles as they become payable in accordance with the rules of the scheme, 2. DONATIONS ANO LEGACIES Unrestricted Funds 2021 Desl8nated Funds 2021 Restritted Funds 2021 Total Funds 2021 Total Funds 2020 Pledges and Gift Aid Grants Gitt in Kind Other voluntary income 631,342 90,000 631.342 163,078 527,396 168,200 2,500 200 698,296 45.578 27.50) 45,578 27.S¢XI 721,342 794.420 Funds raised throu8h partner everrts in Australia. Belgium, Hungary, Finland, Latvia, Macedtrnia, New Zealand PaStrne, Romania. Russia. Spain totalled £620,584 (compared with £657,687 in 20191201. These events were administered by partner organisations rather than TFN so are not directly refletted within the funds rarsed represented in these accounts. However. all partnerin8 events and organisations recerve substantial ongoing support and guidance from TFN. 21
THE FUNDING NtrwoRK Ireglstered company no. 040469591 NOTESTO THE FINANCIALSTATEMENTS For the year ended 31 March 2021 Analysls of grant funding unstrICted Funds 2021 Designate(I Funds 2021 Restricted Funds 2021 Total Funds 2021 Total Funds 2020 Frederick Mulder Foundation Marie-louise Moteslczkv Charitable Trust The Ennismore Charitable Trust Brooks Foundation Charles Stewart Mott Foundatlon T & i Meyer Famity Foundation Paul Gettv Others. including prlv?te donatlons 17,5(Kl 17,5 17,5 45,000 45,( 25.CX)O io,crf)o S2,724 4S,OLK) 32,500 10,000 45,000 10,000 25.IXKJ iO,OCm) 7,724 45,000 7.854 45.578 7,854 163,078 8.200 168,200 27.5LYI 90.000 3. INCOME FROM CHARITABLE AcfiviTIES Unrestricted Funds 2021 Designated Funds 2021 Restrlcted Funds 2021 Total Fund5 2021 Total Funds 2020 Membership lees Atlendance fees 20.635 20,635 24,303 1.840 26,143 20.635 20,635 4. INCOME FROM OTHER TRADING ACTIVITIES Unrestrictecl Fvnds 2021 Designated Funds 2021 Restricted Funds 2021 Total Funds 2021 Total Funds 2020 Sponsorships 800 800 S. OTHER GRANT INCOME Unrestricted Funds 2021 Desi8nated Funds 2021 Re5trirted Funds 2021 Total Funds 2021 Total Funds 2020 Covid-19 Job Support Grant 8.404 8,404 8,404 22
THE FUNDING NETWORK (registered company no. 040469591 NOTESTO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 INVESTMENT INCOME Unrestricted Funds 2021 Designated Funds 2021 Restrirted Funds 2021 Total Funds 2021 Total Funds 2020 Interest re1vable from: Bank Interest 185 185 185 214 7. RESOURCES EXPENDED Total 2021 Total 2020 Cost of charitable artivities Grant-makin8 TFN UK Events TFN International Total charSlable expen¢Jiture Costs ol Benerating voluntary Income 631,342 106,169 69,030 806.541 6.145 812,686 527,396 104.770 75,878 708,044 12,740 720,784 Grant Fundin8 of Activities oihef Direct costs Support Costs Total 2021 Staff C05t5 Grant-makift8 TFN UK Events TFN International Total charitable expenditure Costs of 6enerating voluntary income 583,354 36,343 83,816 57,094 11.577 22.247 11,876 631,342 106,169 69.030 106 583.354 177,253 234 45,71Y) 806,541 6.145 6,379 6,145 812,686 $83,354 177,253 45,7Ch) Resources expended include- 2021 2020 Dppreriation Auditor's remuneratlon 1,457 4,580 1,373 4,148 Detalls of stafl costs are given lft N(rte 10. Details of Support cost5 are given in Note 9. 23
THE FUNDING NEfwoRK Iregistered company no. 040469591 NOTES TO THE FINANCIALSTATEMEKrs For the year ended 31 March 2021 GRANTS PAYABLE 2021 2020 Grants payable at the start of the year ITte 121 Grant5 payable at the year end (note 121 Grants paid dijring the year,. The Fundlng Network ILondonl Atce55 Social Care ACCORD Amelie & Daniel linsey Foundation A Partner in Educatlon Bath City Football Club Foundation Bitou Communitv Black Cultural Archives Caxton Youth Cecily's Fund Children ol the Mountain CyberTracker Conservarlon Donlel Spar80-Mabb5 Design Club CIC El Club Des Espendru Farmers Overseas Artion Group Foundervine CIC Harpenden Spotllght on Africa Human Milk Foundation Just Treatment Kltchenette Karts CIC Lightyear Foundation Lurninary Bakery Maytree Aesplte Centre Mi8ratlon Mu5eurn Oblique Arts Omnibus Theatre Pahichan Parallel Hi5torles Pres5Pad Pump Aid Recognize Black Heritage and Culture The Armita@e Foundation Suifed an(t Booted Tea Leaf Trust Teach2Teach International The 4Froni Project The Kids Network 147,0711 86,460 166.6951 47,071 9.400 15,690 6,325 17,962 8.700 556 8,511 1,468 4.891 960 5,000 3.152 11,197 6,057 7,018 11,370 7,874 6,466 ,466 7.238 6,605 7.991 13,277 1.237 6,278 14,750 7.149 12,780 7.504 14,490 8,394 23,268 1,409 24.466 8,568 7,231 694 16,026 250 24
THE FUNDING NETWORK Ireglstered company no. 040469591 NOTE5 TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 The Muscle Help Foundation Vulcan Learning Centre WATSAN UBanda Wave Café 2,440 13.300 4.735 5,Ot)o 5,000 7,567 154,190 219,522 Young Fundlne Network 81oom Six Chatii Critics, Club Curo Everybody Impactful Lemonade Pivot P1a5tlc Shed Split Banana Square Circle Telescope Untold 589 3528 2,167 5,034 559 3,062 122 4.802 458 766 2,134 2,399 a,335 28,954 Partner l Reglon•l Events IOODay501NoCode AimHire AT The 8us Blackbird Leys Adventure Playground Black Funding Network Blackoul UK Bottles of Hope Breakthrou8h Caxton YoLrth OrganSsation Centre lor Law and Policy Research Chatti Cherwell Theatre Company Commvnlty Alburns CracketJ It Curo Dacorum Community Trust Downright Excellent Dream Green Elevated Minds Fundatia Adept Gendered Intelligence Herts Inclusive Theatre Herts Welcomes Refugees Impactlul 2,568 4,135 8,866 7,339 523 4,874 58 4,923 4,625 7,577 971 4,359 5,628 3,7LK) 1,826 4,4S9 4,625 3,035 10,595 3.304 5.198 4,739 5,202 3,7(K) 532 25
THE FUNDING NWORK Ifegtsteied company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 Equality for All Foundation Jarnaica Limited IJ-FLAGI Kitchio living Proof Love Light Romania Luminary Bakery L'union Feminlste Libre New Family Social Openln8 Doors London Oxfordshire Breastfeeding Support Oxford for Romania Pivot Platform Pocket Power Power With Renaissance Foundation Salford Red Devlls Sister Sy5tern Soundabout Spedal Uhal Eashri Universify Education Voice of Colour Wlth Insight Education Square Clrcle Untold 6,497 6.343 2.795 3,057 3,700 6.405 4,947 5,917 4,323 3.670 1,165 2.894 5.362 4,818 116 58 11,012 4,452 2,875 6,239 5,403 4,706 10,394 45 118,095 96.466 Strate¥lc Fundlng Group Balkan Rlver Defence Beaver Trusi Book Clubs in Schools Children of the Mountain Choir With No Name Cracked It Environmental Law Foundation Flamingo Chicks Foundervine Hope for the Future Lon<Jon Reclaimed Luminary Ltd MAITS Music in Detention Teach2Teach International Thè Commitment The Kids Network 20.16S 19,876 13.OC4) 17,000 21,275 26,825 14,765 30,571 12,0110 30,571 16,303 15.656 14,511 15.089 12,002 13,181 15,922 26
THE FUNDING NEfwoRK (registered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 Unchecked 16,812 192,123 133,402 Starter Grants Akademia Rozwolu Filantropii w Polste Akademia Roiwoju Filantropii w Polsce Association Konekt. Macedonia 8rasov Community Fovndation 8uzau Communlty Foundation Dalia Association ELLAS- Mujere5 v Filantropia at Centrode Estudios de Estado v Sociedad. CEDES Ferencvaros Community Foundation, Hungary Fonda2ione di Comunita del Canavese Fundatia Communitara Mijres, Romania GRASP 8aicelona GRASP 8russels GRASP Finland IEdu.Studio Helsinki) GRASP London ICOM - Instituto Comunitario Grande Florlanopolis Pecs Community Foundation, Hungary Prahova Communiry Foundation Arkhangelsk Centre ol social technolo8ies Ferencvaros Community Foundation Mosaico Laboratorio Creatlvo rFN New Zealand Support Foundation for avll Sotletv The 'CAF" Charitable Foundation for Philanthropv Development The 'CAF" Charitable Foundation for Phllanthropy Development The Cross-ReBional Fund of Mld Latgale Ividuslatyales parnovadu fondsl Valmiera Re8ion Community Foundaiion 2,700 2,660 903 862 862 904 793 914 911 832 909 897 897 884 856 I,CJJO 802 911 862 600 890 866 887 888 4,365 839 839 19,275 12,161 Other Gr*ntJ 4Front Pr0ct- Nthvork for Social Change Grant 8alkan River Delence Casa loan8 Repreieni Romanian Diaspora Funding Nètwork 20.000 9,975 2.925 36.103 1,756 60.784 9,975 583,354 481,359 27
THE FUNDING NEtWORK (registered company no. 040469591 NOTES TC THE FINANCIAL STATEMENTS For the year ended 31 Morch 2021 9. SUPPORTCOSTS Total 2021 Total 2020 Genef31 overheads Auditors, audit fee 41.120 4.580 45.700 27,473 4.148 31.621 10. STAFF NUMBERS AND COSTS Total 2021 Total 2020 Wages and salaries Socbal security costs Pension costs 162,485 9,285 5,483 177,253 147,343 12,670 6,995 167,008 The average weekly number of employees durln8 the period was: Number Number Émployees 4.32 l employee received remuneration of more than £60.112020'. nill. in the band £60,000-70.000. Durln8 the year, key managemerrt, comprising the CEO and Partnerships and Event5 Manager, received remuneration of £112,83712020.. £111,0841. 11. TRUSTEES REMUNERATION ANO BENEFITS Durln8 the year, no members of the 8oard of Trustees received any remuneration12020.- £nlll. No members ofthe 8oard of TTU5tees received reimbursement of expenses12020.. £nill. 28
THE FUNDING NEfwoRK Iregi5tered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 12. FIXED ASSET5 Office Equipment Total 2021 Cost As ai I, Apfll 2020 Additions As at 31° March 2021 6,865 421 7.286 6,865 421 Depreclatlon A5 at I" April 2020 Char8e in the Year A5 ai 31° March 2021 1.417 1,457 2,874 1.417 1.457 2,874 NBV as at 31" March 2021 N8V as at 31" March 2020 4,412 5,448 4,412 5,448 13. DEBTORS 2021 2020 Due wlthin one year Other debtors 49.018 43,534 43,534 14, CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2021 2020 Trade Creditors Grant commitments Social 5ecurliy and other taxes Accruals 755 86.460 3,597 15,935 106,747 1,088 47,071 427 17,553 66,139 29
THE FUNDING NETWORK Iregistered company no. 040469591 NOTE5 TO THE FINANCIALSTATEMENTS For the year ended 31 March 2021 15. DEFERRED INCOME 2021 2020 Deferred income 78.555 123.555 123,555 Deferre Balance at l April 2020 Arnount released in year Amount deferred in the year Balance at 31 March 2021 me 123,SSS 190,OCQI 415. 78.555 168,555 190.0001 45.000 123.555 16. STATEMENT OF FUNDS TrJn5fers & Investment galnslllossesl Brought Forw•rd Incomlng Resources R•source5 Expended Carrled Forward DESIGNATED FUNOS Swan Appeal Office Costs 9.641 9.400 19,041 20.OCKI 7.50) 27.5LMJ 129.6411 116.9001 146.5411 RESTRICTED FUNDS Grant-makin8 TFN International 631,342 90,000 721,342 1583,3541 169,0301 1652,3841 147,9881 12.203 12,203 33,173 33,173 147,9881 SUMMARY OF FUNDS Designated Funds General Funtjs 19,041 89.440 108,481 12,203 120,684 27,$00 74,802 102.302 721.342 823,644 146,5411 94,529 47,988 147.9881 1160.3021 1160,3021 1652.3841 98,469 98,469 33,173 131,642 Restricted Fund5 The Swan Appeal desi8nated fund represent monles raised by special appeal during 2018119 to cover tore costs over 3 year5. This fund is being allocated a5 equally as possible over each year until 2020121, $0 all fund5 have now been released. The Office Costs designated fund represents amounts donated in order to offset the InaSed office costs during the prlor year resultin8 from the move into rente(l office space. 30
THE FUNDING NEfwoRK Iregistered company no. 040469591 NOTES TOTHE FINANCIAL STATEMENTS For the year ended 31 March 202 1 Money raised at UK Events by The FundinB Network is for specific non-profits. These fund5 are treated as restricted and have been paid to the respective non-profits le55 a levy of on average 7.5% to cover overheads. The levy is treated as a transfer between funds (see below). Restricted grants have a150 been received durinB the year to fund the development of TFN activitSes in overseas countrles ITFN Internationall. COMPARATIVE STATEMENT OF FUNDS Transfers & investment i•lnsll105sesl Brought Forward Incoming Resources Resources Expended Carrled Forward DESIGNATED FUNDS Swan Appeal Office Costs 19,283 45,OCKt 15,(h)) 154.6421 15,6001 16(),2421 9,641 9,400 19,041 RESTRICTED FUND5 Grant-making TFN International 527,396 90.C 617,396 1481,3591 175,8781 1557,237 146,0371 11,9191 147,9561 12,203 12,203 SUMMARY OF FUNDS Desgnated Funds General Funds 19,283 96,732 116,015 160,2421 108,198 47,956 147,9561 19,041 89,440 108,481 12.203 120,684 48,057 1163,5471 1163.5471 1557,2371 1720.7841 Re5tritted Funds 617,396 725,453 116,015 17. TRANSFERS Restricted Fund5 2021 Designated Funds 2021 Unrestricted Funds 2021 Transfer in the year compri5e5: Final year of Swan Appeal Released Transfer to cover office rental costs Charged 129,6411 116,9001 29,641 16,9DO 47.988 147.9881 31
THE FUNDIPIG NETWORK (registered company no. 040469591 NOTE5 70 THE FINANCIAL STATEMENTS For the year ended 31 March 2021 COMPARATIVE TRANSFERS Restricted Fun¢Js 2020 Designated Funds 2020 Unrestritted Funds 2020 Transfer in the year comprises: Second year of Swan Appeal Released TFN International costs paid from Unrestricted Funds Transfer to cover office rental costs Le Charged 154,6421 54,642 1.919 5.600 46,037 11,919} 15.6001 146.037) 18. ANALYSIS OF NET ASSETS BETWEÉN FUNDS Desi8nèted Funds General Funds Restricted Fund5 Total Funds Fimed A55rt5 Deblors Bank Creditors due within one ygar Deferred Income 4,412 4,412 49,018 263,514 1106.7471 178.5551 131,642 49.018 149,171 186,4611 178,55SI 114.343 120,2861 98.469 COMPARATIVE ANALYSIS OF NÉT ASSETS BEfwEEN FUNDS Designated Funds General Fund5 Rostritted Funds Total Funds 2020 Fixed Assets Debtors Bank Creditors due withSn one year Deferred Income 5.448 5,448 43.535 261.395 166,1391 1123,5551 120,684 43.535 139.29S 147,0721 1123,5551 12,203 19,041 103.059 119.0671 89,440 19. PENSION COMMITMENTS Part of the salary of the staff member5 15 paid in the form of contributions to a defined contrlbution pension scheme. The assets of the stheme are held 5eparatety from those of the company in an independently administered fund. An avto-enrolment workplace pension scheme is now also in operation. The pension cost chafgè repre5ent5 total contributions payable by the charity to both funds and amounted to £5.48312019'. E6.9951. 32
THE FUNDING NETWORK liegistered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 20. RELATED PARTY TRANSACTIONS Durlng the year, donations totalling £ll,OW12020= £9,700) were received by the or8anisation from Trustees. The Treasurer of TFN is employed by the charity Pump Aid, who were invited to pitch at a virtual funding event durin8 the year and secured £23.268 In donations. TFN'S Treasurer took no part Sn the process that led to Pump Aid bein8 selected, nor any part in the pled8ing session at the event, ènd the charlty enjoyed no advantage from his position on the Board. 33
THE FUNDING NETWORK (registered company no. 040469591 NOTES TOTHE FINANCIAL STATEMENTS For the year ended 31 March 2021 21. COMPARATIVE sfATEMENT OF FINANCIAL A1VITy Unrestricted Funds 2020 Designated Funds 2020 Restritted Fund5 2020 Total Funds 2020 INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable activities Other trading attivrtles Investments TOTAL 20.9CM) 26,143 800 214 48,057 617,396 698,296 26,143 800 214 725,453 617,396 EXPENDITURE ON.. Raising Funds Costs of generatin8 voluntary income Charltable acltvltles Granl-making TFN UK Events TFN International TOTAL EXPENDITURE 12.740 12,740 46.037 104,770 481,359 527,396 104,770 75,878 720,784 75,878 557,237 163,547 Net incorne/lexpenditurel before translers Transfer between funds NET MOVEMENT IN FUNDS 1115,4901 108.198 17.2921 60.159 147,9561 12,203 4,669 160,2421 12421 4,669 RECONCILIATION OF FUNDS TOTAL FUNDS AT I APRIL 2019 96,732 19,283 116,015 TOTAL FUNDS AT 31 MARCH 2020 89,440 19,041 12,203 120,684 34