THE FUNDING NEfwoRK (Company lifflited by guarantee no. l)4046959 re8istered charity no. 10883151 REPORT AND FINANaAL STATEMEritS YEAR ENDED 31 MARCH 2022 •A8)7YLSJ* 1W12r2022 C(hMPANIES HOUSE lilli 219 THE FUNDING NETWORK Icompany limited by guarantee no. 04046959, registered charity no. 10883151 REPORT AND FINANICAL STATEMENTS For the year ended 31 March 2022 CONTENTS Page Reference and administrative infomiation Chairfs staternent Board of TTUStees' report Auditorfs ￿port 13 Statement of financial activities 17 Balance Sheet 18 Cash flow statement 19 Notes to the financial statements 20 THE FUNDING NETWORK (registered company no. 040469591 REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS For the year ended 31 March 2022 Board of Trustees Mr S Lush, Chair (ap￿Inted 20 June 20171 Mr M Chuter (appointed l March 20161 Mr A Coles OBE lappoirtted l June 20171 Mr K Solidum {appointed 3 October 20181 Mr S Sinha {resigned l February 20221 Mrs A Clarke. Oeputy Chair (appointed 16 April 20191 Ms FJ Johnston (appointed 17 September 20191 Ms O Aig-lmoukhuede (appointed I September 20201 Ms C Chambers lappointed 4 May 20221 Ms W 8rierley (appointed 11 October 20221 Company Se¢retsry Ms Caroline Swanson (appointed 30 October 20191 Chlef Executl¥e Eugenie Harvey comp￿¥ reg. no. 04046959 Charity reg. no. 1088315 Registered Offi¢e Toynbee Hall 28 Commercial Street Lon(lon EI 6LS Auditor Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD Triod05 Bank 11 The Promenade Bristol B58 3NN Co-operative Bank PO Box 250, Delf House Southway, Skelmersdale WN8 6WT THE FUNDING NETWORK Iregi5tered company no. l)40469591 CHAIR'S STATEMENT For the year ended 31 March 2022 l am pleased to present the audited accounts forthe year ended 31 March 2022. Despite the challenging 8eopolitical and macroeconomic environment. The Funding Network continued to make a positive impact in the UK and around the wortd. TFN'S total direct ￿ntribUtIon to social change in the UK in 2021- 22 was £505L raised at 11 crowdfunding events in the UK* This compares with £583k in 2020-21 raised at 14 events. The Board took the decision to reduce the events programme in 2021-2022 to focus on implementing our strategic transformation programme. We were intentionally cautious in hiring as the world emerged from the Covid-19 pandemic due to the increasin8 labour costs and ensurin8 our ialent was appropriately matched with our strateiy and required skillset-a task that required significant focus from the small team of three. However. there are already encouraging signs that our plans are working. For example. for a second year. we have susiained Inc￿aseS in fvnds raised at our flagship events. Whereas in 2019 we raised an average of £29,878 at each flagship event. in 2020 this increased to £49,170 and hekl ￿eadY in 2021 at £48.054. Taking into account events held in the UK and those organised by our International Affiliates, at the end of the 2021-22 financial year, £16.9 million has been raised for 2.418 social change proJert5 at 652 events worldwide since TFN was founded in 21x12. In addition to funds raised at crowdfunding events. we are pleased to report that anatysis of impact ports compbeted by organisations funded from 2017-2021 shows thèt- 96% of non-profits report being better prepared to pitch to other funders after TFN 63% of non-profits leveraged further funds as a re5uft of TFN 83% of non-profits funded by TFN in 2012 are Still thrivin8 10 years late Furthermore, the 2022 TFN Members. Survey showed that 94% of members find more charities to support through TFN 88% of members gNe more money as a result ofTFN 56% of members continue to support one or more charities they meet throu8h TFN TFN turn$ 20 In 2022 we are marking The Funding Networfs 20 anniversèry. The first TFN event was held on 16 March 2002 and funds were raised for 10 I!) dynamic social change projects. several of which thrive to this day. These include Cardboard Citiiens which addresses wverty and inequality by involving people who have experienced homelessness in theatre makin& and Hibiscus whKh supports and empowers vulnerable migrant women affected by the UK criminal justice system and imrn jration restrirtions. Others, such as Transport 2(X)O and Jubilee Research, were time-limrted inttiatives which have evolved into lon8Standin8 campaTrgns fighting forjusiice and sustainability. In the intervening years, we have had the opportunrty to support hundreds of.or8anisations such asthese at events around the UK and r￿W internationally. We are indebted to our four founde￿ Dr F￿derICk Mulder CBE, Sue Gillie. Dr Paul Kelland and pol￿ McAfee for their vision and hard work in establishing The Funding Network and it is a testament to their commitment thèt they are still invofved to this day. I am sure I speak for many when l express my sincere thanks to them. ' This indudes a direct payment of £17k made to charities by a donorfollo￿n& an event. Source.. TFN'5 own Jnatysis completed in 2022 THE FUNDING NETWORK Ire8i5tered company no. 040469591 CHAIR'S STATEMENT For the year ended 31 March 2022 We have taken the opportunity of the 2￿ anniversary to update our strategy and re-visit our theory of change. This extensive piece of work draws together our UK hybrid (digital and in-personl crowdfunding events and our international programme of training and support for cp4il society organisation5 to establish their own TFN groups. As part of the anniversary activf(ies. we have a150 retired the TFN logo and invested in a new creative identty working with Stephen Taylor of Heat DesEn. A new strapline - 'connections thotchange the world'_captures TFN'S vital ro￿ in bridging the dNide between small. gra55 roots charitles and thou8htlul, engaged dor￿1$, enablin8 them io work together to bring about the world they wish to see. The new creative identriy was unveiled in our 2￿ anni¥er5ary impact report, which can be read by following this link-. htt bit. cttfn20. Thanks to the generous support of our members to the Swan Appeal we have teen able to make much needed investments in our organisational capacity. This has enabled us to capitalise on opportunbties created during the pandemic. particular￿ the move to virtual events and the opportunity of workin8 more Closely with corporate members. We have increased the UK team to five. creating roles dedicated to membership. event delivery and supw)rting charities. We are also makirtg investments in our digital systems. enabling us to streamline our processes and impro¥e our efficiency. In 2023. we will re-launch our website 50 that it align5 wf(h the new strategy and creatP4e identity. UK artl¥hles 2021-22 was presented some challenges as we emerged from the pandemic and sought to re-establish our f¢)Oting in a new world, bracing lor the aftershocks of the SEnrfKant disruption. As well as our programme of flagshlp and strategic funding events, raising funds across a wide spectrum of need, we have corbtirtued to invest in our programme of themed events. These events enable us to cast a 5POtlight on underfunded issues such as the environrnent and underserved groups such as IGBT+ and Black communities. Five annual events in partnership with the Environmental Funders Network have now raised £284k for 15 orBanisations workin8 to protect the environment, with a further £1.2m leveTaBed as a result of these events. Our partnership wrth GNeOut. Consortium and Matquarie to deliver the arhnual City for LG8T+ event entered its third year with total funds raised for LGBT+ rights organisations standin8 at £75k wlth a further £130k leveraged. The Black Funding Netvmrk has now had three successful events raising over £70k for nine Black-led projects and the communities they Serve. An excitin8 new strand of work is our white label prograrnme throu8h whith TFN'S model is used in a corporate settin8toeneage employees in tharitable gNin& Afirstwhite label ever)1 with Sage Foundation Is scheduled for this autumn and we are hopefvl that it will be the first of many such events. Internatlonal The blueprint created by cKTrr work in the UK has continued to be deployed to great affect internationally. Since 2012, with the support of the Charles Stewart Mott Foundation and the Marie-Louise von Motesiczky Charitable Trust, we have delivered training and support to mission-aligned partnets in 27 countries which in turn has led to more than 357 events based on the TFN model in countries as diverse as Australia, Turkey and Latvia. Total funds raised at these events stands at £7.2 million in support of 1238 social change initiatr¥es. And. while the amounts raised at these events mayvary, the TFN spirit and format is recognisable at them all. Highlights of 2021-22 include TFN New Zealand passing the milestone of NZDSlmillion raised and sUc￿Sful first events in Peru. Georgva and Germany. THE FUNDING NETWORK (registered company no. 04046959) CHAIR'S STATEMENT For the year ended 31 March 2022 Our international offer is greatty strengthened by a Stsrter Grants programme. funded by the Frederick Mulder Foundation, offerin8 International crvil society organisations that have successfully completed training in the TFN crowdfundin8 model the opportunity to apply for a grant of £1,or￿) lor lotal equivalentl for each of their first three events. These funds can be used towards event costs with at least 50% of it Used to introduce and establish the concept of "match fundin￿. Since the Starter Grant programme began in 2017. 87 grants have been rnade. Thank you I would like to thank the many people and organisations that have contrib￿ed to the impact we have made overthe past 12 months. Firstly, to our members - individuals, familres. trusts and corporates- for your steadfast support. Your commitment to TFN thr¢)ugh turbulent times has enabled us to refo¢us and emer8e from the pandem with so many excrting new opportunities. Last yearfs Swan Appeal is enabling the transfomiational work I brrefly described earlier- criiical to ensuring The Funding Network remains relevant and tontinues to tackle social impart causes around theworld. I would also liketothank the coT￿rate member5, including Pirton, Rathbone Greenbank Investments, Mishcon de Reya LLP, Octopus. T. Rowe Price. Ennismore Foundation, EQ Foundation and Macquarie. who provided generous match funds throughout the year, which ensured the success of our virtual flagship events. Secondly to the charities and other organisations whose workwe have had the prNile8eto support, thank you for putting your trust in u5 and for your apprecvation of our work. To our international partners dotted around the world, thank you for your hard work on the ground to deliver brilliant crowdfunding events and for your enthusiastic engagement with us and each other. Thank you to our intematlonal funders. Charles Stewart Mott Foundation and the Marie-Louise von Motesiczky Charitable Trust and the Frederick Mulder Foundation for support wtth the Starter Grant programme. In the UK, we acknowledge with 8ratilude Brooks Foundation, J Paul Getty Jr Charitable Trust, Ennismore Foundation. Merriman Foundation. Green Room Foundation. T & J Meyer Foundation and the Frederick Mulder Foundation. The team is very much enjoying being back in their office at Toynbee Hall worf(ing alongside the Association for Charitable Foundations and I thank Geoff oldr￿Id and Frederick Mulder who have jointly met this cost for the past three years. I would like to acknowled8e Mich*1 Maynard who ha5 generou51y given his time and talents. both leading the pledging sessions at our events and providing the tearn with valued moral support. THE FUNDING NETWORK Ire8iStered company no. 040469591 CHAIR'S STATEMENT For the year ended 31 March 2022 My fellow trustees have again played vital roles in all asperts of TFN'S work. Shantanu Sinha stepped down this year at the end of temi we will miss his praciical attitude and l am grateful for his constructive counsel duriru hi5 tenure. In his place, we are delighted to welcorne Christina Chambers who, like Shan, joins us from Mishcon de Reya. I woukl like thank Michael Chuterwho has been a Trustee since 2016 and Treasurer since 2017. Given the challenges of the pandemic. the Board asked Michael rf he would extend hi5 second and final term for a furtheryear, allowing us time to recruil and handover to a newT￿a$vrer. Michael agreed and we are lucky enough to retain him until the end of the next financial vear. I would also like to acknowledge the contribution Ihat Kawika SolFdum has made to the development of a new strategy and creatNe identtty, and the support he has given to the team. Lastly huge thanks to Caroline Swanson for her hard work as Company Secretary- a tough feal to keep us all on trackl I have started the process of recruiting a new Chair for The Funding Network as my second tem) comes to an end in June 2023. 1 am pleased to Say we have some excellent candidate5. and l am grateful to Allis Clarke, my Deputy Chair, who is leading on this. And finally to the team - Eugeftie Harvey, Jennie Jeffery, Sally Hoang, Julia Smith and Rosanna Hutchings in the UK and Mihaela Giurgiu who leads our international work from Romania-thank you all for another terrific year! It's been a huge honour to be involved In The Funding Network aTrJ l am looking to seeing its next Stage of growth. Together we are greater than the sum of our indrvidual parts. and. above all, l am gratefvl to everyone inVo￿ed for continuing to push for positive social change around the world. Samuel Lush Chair THE FUNDING NEfwoRK (registered company no. 040469591 BOARD OF TRUSTEES, REPORT For the year ended 31 March 2022 The Trustees Iwho are also the Direciors of the tharitable company for the purpose5 of the Companies Artl present their combined Director< report and Trustees. annual feport, as required by company law. tO8etherwith the audited financial statements of The Funding Network (the cornpanyl forthe yearended 31 March 2022. The Trustee5 confirm that the Annual Report and financial statements of the company comply with the current statutory requirements. the requirements of the company's governing document and the provisron5 of the Statement of Recommended Prattice'Accounting and Reporting by Charities. ISORP IFRS 102 second edstion- effective January 2019)). The Trustee5 and DiTertors Report5 have been combined under Companies Act 2￿6. OBJEcfivES AND ACTIVITIES Objertives The Funding Network is an open network which makes connettiors between donors and charitable cause5 and social entrepreneurs. It aims to: raise money for organisatKJns creating social change- provide a public benefit by educating attendees at events about social change projects- encourage an increasin8 number of people to engage in actNe philanthropy.. help individuals make an impact by enabling them to combine their 8Ning with others. TFN carries out its long-tem) obj'ectives through hostin8 crowdfundin8 events which were delivered live prior to the pandemic and virtually throu8hout periods of l¢xkdown. TFN'S events are open to everyone. and raise fund5 for Charital￿e causes and social entrepreneur5. Roising money Organisation5 nominated by TFN'S member5 appty to present at events and agree to go through a selectron process. The application proce5$ is a simple form submitted online, followed by a selection panel meeting (which includes a Small number of TFN Members) which conduct5 a brief interview bv phone with shortli5ted non-profrts. In 2021>21 an independent re¥iew of TFN'S charity selection process, including due diligence. was undertaken by Emma Beeston. The review was extrerne￿ positive in its findings and the small number of recommendations for improvements have now fully implemented. In 2022-23, wewill revisit thecharlty5e1ect￿n process to ensure it align5With our ambition of constantty striving for greater inclusivity and representation. Selecled or8anisations a￿ given six minutes to present their cause at an event followed by six minutes for qUeSt￿n$. Grantees are inforrned of the funds raised shortly after the event and receive the full amount with Gift Aid (minus TFN'S 7.5% wfLhin 12 weeks. PoSt-￿ndeM1¢, events will be de1ve￿d in hybrid fomiat meaning they will be available to join in-person or virtualty. To ensure the hi8h qualty virtual experience, it will be necessary to incur some costs for technical support. Over time. we are confident that thi5 Outlay will be more than justified by an increase in funds raised. membership numbers and improved accessibility. THE FUNDING NETWORK (registered company no. 040469591 BQARD OF TRUSTEES, REPORT For the year ended 31 March 2022 Informing ottendees Most TFN events are open to the Eeneral public, as well as TFN members. through online re8lStration. Attendees receive an infomiation pack about the presenting non-proftts in advance of the event. The information gives details of all the causes and their funding requests, and events allow space for atlendees to talk informally to all the presenters. Attending an event and donating alongside other people enables attendees to learn from the philanthropy of others as well as to shave thelr own philanthropic expertise with others. Attendees enjoy hearing direct￿ from the social aclivists invofved with the presenting organisations. and often meet end-beneficiaries tcx). Engogement in ortive philonthropy TFN members can nominate non-profrts to ap￿ and have a responsibility to guide them through application process. Selertion panels are made up of members who put themseKfe5 forward and representatives of partner organIsat￿nS. steered by TFN'5 ￿0 or a Trustee. Members are also encouraged to ￿ntribUte to events by volunteerin8 in various capacities. including sharing insights into their philanthropy and championing projects they have nominated.The aim is to create a Positive, infomiative and inspiring environment so that first-lime attendees enjoy the collective giving experien￿ and wish to return. irrespettNe of whether they have given at the event or not. Increasingly we are using tactics to inc￿•se the number of people who gFve at events- participatlon belng In manv re5petts as important as the actual funds raised. For example, we have introduced a match funding pot that people can donateto which is rolled overto the nexi event and used to encourage attendees to give for the flyst time. Collertive import Donors come together to have a collective impact through their giving at TFN events. Small donations and larger gifts help create a single grant made by TFN to the presenting organisations. All applicants are evaluated on their model of social chan8e, the level of impact they create fortheir beneficiarie5 and their appeal io potential donors attending TFN events. Not onty do organi5ations preserbtirg at our events recebve m05t or all of the funding they ask for, they also build relationship5 With donors who sometimes provide valuable expertise, contacts and addrtional funding. Al most TFN events, an organisation funded at a prior event reports back to the audience on the impact of the finartcial and pro-bono support they receive(l. P￿￿1£ Benefft The Trustees confirm that they have referred to the Charity Commission's general guidance on public benefil when reviewing the charity's aims and objectives and in planning future activities. The Trustees en5UTe that TFN'5 social change mission is carried out for the public benefrt through the creation of funding events whith support small charitable organisations that aim to enable enduring positive transfom)ation for individuals. communities, andlor souety and the environment over the long term. This SUPPOrt includes rahsing funds, the development of new skilb le.& presentation training), atcess to new network5 ènd the opportunity to secure pro bono and other voluntary support. Examples of charitable or8anisatb)ns supported include those which- THE FUNDING NETWORK (registered company no. 040469591 BOARD OF TRUSTEES, REPORT For the year ended 31 March 2022 address issues of inequality 4nd dI￿d¥antage. create advocacy I camp•ignin8 I dissemination to change society for the better: aim to find a new / better solution to an underlying problem- focus on personal development to change the way beneficiaries act and INe: pilot solutions Wtth the potential for expansion to supw)rt many more people. Our charitable organisation is primarity set up to support- othew small dwitable organis*ion5 that are sele£ted to pitch at OUT events forfvnds and other 5UPPOrt: individual and institutlonal donors that attend our events lo meet such organisations and to offer them 5UPPOrt: the benefKiarie5 of the charitable or8anisètions funded at our events, in health, education, human riEhts, crime prevention, environment. livelihoods and inclusion. TFN also provides a valuable serwce to civil society groups worldwide through its international prograrnme, a5 described previously in this report. FINANCIAL REVIEW Rewlt for the year There was a total increase ift fvnds for the year an￿￿ntIng to £46,11812021= £10,958). Of this, £20,829 related io Unfestr￿e￿ fund5 and has In¢￿aSed ￿n￿StrIcted 8eneral reserves to £119,298 12021.. £98.4691 which meet5 the reseNes pjlicy as set out below. Detai15 of ReseT¥es TFN is a small and nimble organtsation that relies on a combination of membership fees. levy income and grant5 to sustain its activr¢ies. as earned income alone would Mt allow us to continue operating. While this diversified mix of income reduces financial risk, rf there were to be a gap in earned or fundraised income. it is likely that the charity would have to dose down. To avoid closure in case of temporary funding difficulties, staff long-term absen￿ due to illness or parental leave. the Trustees have agreed to keep a ￿rtain 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 fvnding for TFN and the charities it supports. In furtherance of which, trustees have set minimum reseryes target of and an optKnum target of £135.(KK). ReseTres have been built in part from the legacy of the late Venetia West Esiate received in 2012. The level of resefves is being reviewed every 3 months by the Trustees at their regular meeting5. Thi5 policy 15 reviewed yearly to reflect any signrficant changes to the charit￿5 work and circumstan￿. TPIE FUNDING NETWORK Iregi5tered company no. 04ts169591 BOARD OF TRUSTEES. REPORT For the year ended 31 March 2022 The Trustees anticipate that the COVIO-19 outbreak in 2020 combined wfth the cost of INiry% crisis, may have an on%oing impact on the Charit￿$ incoming resources" and resources expended in the coming vears. They have considered the likety impact on its irKomin8 resources and how the charity can react to thal impact and are confident that it has sufficient reserves and enough flexibility to ensure thai it can continue to exist for the foreseeable future. Most of the grant funders that TFN relies on in order to operate have confimied their commitment to continue supporting the organisation. Furthemiore, it $ anticipated that investments described briefly herein to improve organisational efficierKy. will lead to increases in funds raised for charity and membership which will in turn increase earned income as a proportion of total income. Trustees have set this as one of the strategic priorities for the next five years. should diffKultie5 arise in the current financial climate, it has been calculated that reserves of £65.(KfJ would be needed to cover the Costs of winding up the organi5ation. Risks The Trustee5 have assessed the major risks to vthKh the company is exposed. in particular those related tothe operation5 and finances of the company and are satisf*d that systems and procedures are in place to mitigate our exposure to the major risks. The Board of Trustees regularly reviews and assesses the risks faced by TFN in all areas of its work and plans for the management of those r￿ks. Risk is an everyday part of charttable artivity and managing It effectively is e55ential rf Trustees a￿ to achieve their key objectives and Safeguard TFN'S funds and assets. TFN'S risks relate primarily. but are not limited to. the financial and operational positions of the charity howeverexternal circumstances such as uncertainty due to the on-going imparts of the Covid-19 pandemic are also considered by Trustees at quarterty and are detailed in a Risk Register. PiANS FOR FUTURE DEVELOPMENT Over the financial year beginning l April 2022. TFN'S aims are as folbws= To continue to improve our digrf¢al capability. particularty building on the success of deliverfng our events virtually during the CovKI-19 pandemic as well as streamlining our operations, marketing activity and delivering white label events. To launch a new. tiered coy￿rate membership offer recognising the different leveb of engagement and types of or8anisations we currentty support - from small family trusts and SMES. to large rnultinationals. A tiered programme. with different levels of benefits. serviting and recognition, creates a mechanism for u5 to structure drfferent kvels of corporate giving to charities. To launch a new website altgning with our 2022-25 strategy and new creative identity, increasing the support we a￿ offering to funded non-profits le.g. by stK)wcasing their event pitches} and MO￿ effectNely communicatirg the benefrts of membership To continue to supFL)rt our existing network of international Affiliates. growing the network and encouraging further innovation with the virtual and hybrid event model. To use the organisation'5 20 anniversary milestone a5 a platfomi for establishing a leadership role in the philanthropic sector. THE FUNDING NETWORK Iregistered company no. 040469591 80ARD OF TRUSTEES, REPORT For the year ended 31 March 2022 STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution The company is constituted Ur￿er a Mernorandum of Association dated 3 August 2CW and is a Te8i5tered charity, number 1088315. The charitable objects of the company are to pay or appty the funds of the compariy to or towards or in furtherance or advantement or for the benefft of such one or more chartties, charrtable institutions, or charitable purposes and rf more than one in such shares and in such manner as the board of directors of the company thereafter in their absolute disuetion from time to time shall respectively select and think fit. The principal aim of the company is to provide a public uowdfunding forum whith: acts a5 a 'marketplace' to which individuals brrn8 projeths that work towards a fairer. healthier and more sustainable world; provides a mutually respectful settin& where those who might like to join with others in fvnding such projects get to meet and hear from those doing the worL' promotes a parad￿M of social change 8piing= that those who have much can usefully share their wealth in creative and proactiveways. and thai the process of 8Nin8 can be enriching tothe giver as well as the receiver. It achieves this by running events land supporting others to run events) for the publÉ¢ benefit, bringing potential donors together with smaller charities and social enlerpri5es in need of funding, and encouraging donations to be pledged and support in-kind facilitated at each event. Trustees The management of the company is the reS￿nsIbIlity of the Trustees who are elected and co-opted under the terms of the Articles of Association. All the Tnhstees are familiar whth the organisation and its operation before being appointed Trustees. Trustees are recruited according to the skills. knowled8e and exper*nce required and with a view to delivering on the charit￿S commitment to diversity and inclu5ivity- Existing Trustees ideniify where gaps need to be filled, such as those relating to an area of governance. Candidates are interviewed by the Chair, anotherTrustee and the CEO. Each new Trustee receives a full induction and a detailed information pack, Charity Commission's Essential Trustee leaflet. minute5 for prevlous Board meeiings, a copy of TFN'S Memorandum & Art￿leS of A550ciation, a copy of TFN'S Poliues and the most recent annual accounts. New Trustees are also offered the opportunr¢y to receive training appropriate to their and TFN'S needs and to spend time in the TFN office observing the Or￿nIsatIon.5 operations. Trusiees seNe an initial term of three years and are eligible forthree fvrther years. An anonymi5ed Board Effectivenes5 survey is undertaken by the Company Secretary annualty providing the opportunity for Ihe Board and Executive to benchmark its performance and identify a￿a$ for improvement. io THE FUNDING NETWORK (registered company no. 040469591 BOARD OF TRUSTEES, REPORT For the year ended 31 March 2022 Organisation and M•Th•gement The Funding Network has nine Trustees. Trustee meetings are held fourtime5 per year. Paper5 circulated between and befo￿ each meeting are used to keep the Board informed about developments and prepa￿￿ for any key decisions ￿QuIred. The Boar(I sets strategy and pyjlicy for membership recruitmenl. grant making and financial matters. While Trustees govern the organisatK)n. the day-to-day running 15 delegated to its staff. In 2021-22 the stsff comprised three pemianent roles Ichief Executive Officer. Events and Partnerships Manager, Finance and Grants Officer) and a Oigital Engagement Manager was engaged for a portion of the year on a contractual basis to oversee a digital audit as part of the wider doital transformation programme. Key management atTFN comprise5 the CEO and the Trustees. Remuneration forthe CEO is benchmarked against that of other similar organ￿atiOnS and adjusted after a performance review conducted by members of the board. Trustees are not remunerated. The Funding Network is based in London with events delNered primarity from the premises of London based corporate members. TFN events held outside of the UK are administered by partnering charitable organisations ratherthan TFN and are therefore not reflected in the Statement of Financial Activities that follows. STATEMENT OF TRUSTEES, RESPONSIBiimES The Board of Trustees is responsible for p￿Paring the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the Trustees to prepare financial statements for each financial year which give true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure. of the charttable company for that period. In preparin8 these financial statements. the Trustees are required to: select 511itable accounting policies and then apply them consistenily: observe the methods and principles in the Charities SORP: make judgments and estbmates that are reasonable and prudent: state whether applicable UK accountin8 Standards have t*en followed. subject to any material departu￿5 disclose(l and explained in the financial statements: and prepare the financial statements on the goin8 concem basis unless it $ inappropriateto presume that the chariiable company will continue in business. li THE FUNDING NETWORK Ire8iStered company no. 040469591 BOARD OF TRUSTEES, REPORT For the year ended 31 March 2022 The Board of Trustees has overall responsibility for ensuring that the Charity ha5 an appropriate system of controls, financial and othenvise. The Trustees are atso responsible for keepin8 adequate accounting cords which disclose with reasonable accuracy at any time the financial position of the Charity and enable ihem to ensure that the financial statements compty with the Companies Art 2006. the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2(M)8 and the provisions of the governing document. They are also responsible for Safeguardi￿ the assets of the Charity and hence for taking reasonable steps for ihe detection and pre¥entK)n of fraud and other irre8uiarities. The Board of Trustees is responsrble for the maintenance and integrity of the corporate and frnancial inforrnatlon included on the Comparfs website. legislation In the Uniled Kingdom iovemin6 the preparation and dissemination of financial statements may differ from *islatiot) in otherjurisdictions. In so far a5 the Trustees are aware". there is no relevant audit inforniation of which the charitable company's auditor is unaware- and the Trustees have taken all steps that they ought to havetaken to makethemselves aware of any relevant audit information and to establish that the auditor is aware of that information This report was approved and authorised for I￿￿e by the Board of Trustees and si8ned on its behalf by: Samuel Lush, Chair Date- 05112122 12 THE FUNDING NETwORKI￿giStered company no. 041M69591 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE FUNDING NETWORK FOR THE YEAR ENDED 31 MARCH 2022 Oplnlon We have audited the financial stotements of The Fundlng Ne￿Ork Ithe 'charitable companVI for the year ended 31 March 2022 which cornprise the statement of financial activities, the balance sheet, cash flow and notes to the financial statements. including a summary of signrficant accounting policies. The rinancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finonciol Reporting Stondord opplicoble in the UK and Republic of Irelond (United Khngdom Generalty Accepted Accounting practi￿1. In our opinion. the finantial statements: give a true and fairview of the state of the charitable companWs affairs as at 31 Marth 2022 and of its incoming resour￿S and application of resources for the year then ended: have been property prepared in accordance with United Kingdom GeneraltyAccepted Accounting Practice: have been prepared in accordance with the requirements of the Companies Act 21M)6. Basls for opinion We conducted our audit in accordance wr(h Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditoes responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company In accordance wtth the ethical requirements that are ￿leVant to our audit of the financial statements in the UK, includin8 the FRCS Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidente we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to 8olng ¢orKern In auditing the flnancial statements, we have conduded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfornied. we have not identif￿d any material uncertainties relatin8 to events or conditions that. individually or colleCtNe￿. may cast signffjKant doubt on the charriable companws ability to continue as a goin8 concern for a period of at least twelve months from when the financial statements are authorbsed for issue. Our responsibilities and the responsibilities of the trustees with resbxt to going concern are described in the relevant sections of this report. Other inlomiation The other infomiatK)n comprises the information included in the annual report. other than the financial statements and our auditorfs report thereon. The trustee5 are responsible forthe ￿her information. 13 THE FUNDING NETWORK (registered company no. 040469591 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE FUNDING NETWORK FOR THEYEAR ENDED 31 MARCH 2022 Our opinion on the financval statements does not cover the other infomiation and, except lo the extent otherwise explicr¢l¥ stated in our report, we do not expre￿ any fomi of assurance corKlusion thereon. In connectK)n with our audit of the finanual statements, our responsibility S to read the other information and, in doing $0. consider whether the other infomiation i4 materialty inconsistent with the rinancial statements, or knowledge O￿ained in the audrt or otherwtse appears to be materiallv misstated. If we identfy such material inconsistencies or apparent material mi55tatements, we are required to determine whether there is a material misstatement in the financial statements ora material misstatement of the other information. If. based onthe work we have perforn)ed. we conclude that there is a material rnisstatement of this other inforniation, we a￿ required to rewrt that fact. We have nothing to repKJrt in this regard. Opinions on other matters wsthbed by the Curces are included inthe Statement of Financial ActNr¢ies when the Charity is le8ally entitled to the income and the amount can be quantified with reasonable accuracy. 20 THE FUNDING NETWORK Iregistered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 Donated facilities are included at the value to the Chartty where this can be quantrfied, and a thlrd party is bearing the cost. No arnounts are included in the financial statements for services donated by volunteers. Donated services are included in income 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 ts recognised where there is no financial cost bome by a third party. Income tax recoverable in relation to investment income or Gift Aid donations is recognised at the lime the relevant income is weivable. Resources expended All expenditure is acco¥Jnted foron an atcruals basis and has been included underexpensecategories that aggregate all costs for allocation to activitie5. Support costs, which cannot be directly attributed to particular activities. have been apportioned proportionately to the direct staff costs allocated to Ihe activities. Governance costs include the costs of servicingTru5tees' meetings, audit and strategic planning. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Pensitrn5 The company is part of a defined contribution pension scheme. Contribution5 are charged to the Statement of Financial Actwities as they become payable in accordancewith the rules of the scheme. 2. DONATIONS AND LEGACIES Unre5tTiCted Funds 2022 Designated Funds 2022 Restricted Funds 2022 Total Funds 2022 Total Funds 2021 Pledges and Gift Aid Grants Gift in Kind Other voluntary income 530.564 78.555 530.564 256.246 631,342 163,078 8.641 169,050 1,510 10.151 1,510 788.320 169.050 609.119 794,420 Funds raised through partner events in Albania. Australiè. Belgium, Columbia, Germany. Hungary, New Zealand, Peru. Romania. the Romanian Diaspora, Sk)vakia and Turkey, totalled 987,206 (compared with £620.584 in 20201211. These events were administered by partner organisations rather than TFN so are not dirertly refletted within the funds raised represented in these account5. However, all partnering events and organisations receive substsntial ongoing supwrt and guidance from TFN. 21 THE FUNDING NETWORK (registered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 Analysls ol 8rant lunding Unrestricted Funds 2022 Designated Funds 2022 Restricted Funds 2022 Total Funds 2022 Total Funds 2021 Frederick Mulder Foundètion Marie-Louise Motesiczkv Charitable Trnst The Ennismore Charitable Trust Gates Foundation Br¢)oks Foijndation Charles Stewart Mott Foundation T & J Meyer Famity Foundation J Paul Getty Jnr Charitable Trust Others, including private donations 38.5(M) 38,5CKJ 17,500 45.￿Y) 45.0 37,500 3,641 10.000 33,555 20.0 5.000 63.050 256,246 45,000 25,000 37.5(Kl 3.641 lo.￿) 10,000 52,724 33.555 20.CXXI 5,000 7,854 163.078 63.050 169.050 8.641 78.555 3. INCOME FROM CHARITABLE ACTivmES Unrestricted Funds 2022 Designated Funds 2022 Restricted Funds 2022 Total Funds 2022 Total Funds 2021 Membership fees Attendance fees 22.624 22,624 20,635 22.624 22,624 20,635 4. INCOME FROM OTHER TRAOING AcnvmES Unrestricted Funds 2022 Designated Fund5 2022 Restricted Funds 2022 Total Funds 2022 Total Funds 2021 Sponsorships 5. OTHER GRANT INCOME Unrestricted Funds 2022 Designated Funds 2022 Restricted Fund5 2022 Total Funds 2022 Total Funds 2021 . Covid-19 Job Support Grant 22 THE FUNDING NETWORK I￿gIstered company no. 040469591 NOTES TO THE FINANaAL STATEMENTS For the year ended 31 March 2022 6. INVESTMENT IfKoME Unrestricted Funds 2022 Designated Funds 2022 Restrirted Funds 2022 Total Funds 2022 Total Funds 2021 Interest receivable from: Bank Interest 19 19 19 19 185 185 7. RESOURCES EXPENDED Grant Funding of Activities Staff Costs {Note 101 Other Direct Costs Support Costs Total 2022 Raising Funds Costs of generating voluntary income 15.334 3.245 11,669 30,248 Charitable Activities UK Events Charity Training and Support Membership Support TFN International Grantmaking Total charitable expenditure 38,210 4.545 17.757 65,423 9.%1 135,896 4,493 35.C 23,337 23.335 11,669 11,668 105,013 77.707 27.882 42,400 77,133 509,475 734,597 1.308 41 487,846 487,846 5,842 Total Expenditure 487,846 151.230 9,087 116,682 764,845 Resources expended include: 2022 2021 Depreciation Auditorfs remuneration 1.457 4.950 1.457 4.580 Details of staff costs are given in Note 10. Details of Support costs are given in Note 9. 23 THE FUNDING NETWORK Iregistered company no. 04046959) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 RESOURCES EXPENDED- COMPARATIVE (AMENDEDI Grant Funding of ActNlties Staff Costs (Note 101 Other Direct C05t5 Support Costs Total 2021 Raislng Funds Costs of generating voluntsry income 12.408 6,178 20.586 Charitable Acttvities UK Events Charity Training and Support Membership Support TFN International Grantmaking Total charitable expenditure 44.313 8,863 5,318 57.094 36.343 151.930 2.209 18,054 9.027 9.027 11,876 6,018 54,002 64,576 17,890 14,889 69,030 625,715 792.100 545 583.354 583.354 2.814 Total Expenditu 583.354 164.338 4,814 60,179 812.686 24 THE FUNDING NETWORK Iregistered company no. 04￿16959) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 GRANTS PAYABLE 2022 2021 Grants payable at the stsrt of the year Inote 121 Grants payable at the year end (note 12) Grants paid during the year. Flagship Access Social Care ACCORD A Partner in Education Artis Foundation Bath City Football Club Foundation Children Heard and Seen Children with Voices Cornerstone CRIBS International CyberTracker Conservation Dantel Spargo-mabbs Farmers Overseas Artion GTOIIP Feedback Five Talents Gallo￿$ Cknse Getting into Teth Greater Change Hackney Laces Just Treatment Key4Lrfe Lightyear Foundation My Lrfe Films Oblique Arts Omnibus Theatre Opera Circus Parallel Histories PumpAid Reco8nize Black Heritage and Culture The Armitage Foundation Stockton Hope Sumatran Orangutan Societv Suvita The 4Front Project The Muscle Help Foundation Vulcan Learning Centre WATSAN Uganda Wheatley Hill Community A550ciation {86,4601 68,399 147,0711 86.460 2.667 9,400 15,690 17.962 20.737 2,428 28,914 578 9.540 16,104 8,700 3,152 11,197 11,370 716 11.811 20,868 14,607 17,810 19,536 7,238 12.307 14,750 22.(K19 7.149 12,780 347 9.251 14,490 23,268 1.409 24.466 578 18,583 16,026 2,440 13,3C 4,735 3,315 7,460 249,406 219,522 25 THE FUNDING NETWORK I￿gIStered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 Strateglc Fundin8 Group A Partner in Education Beaver Trust Book Clubs in Schools Ca¥ton Youth Children of the Mountain Environmental Law Foundation Foundervine Human Milk FoundatK)n Luminary Ltd Migration Museum Teach2Teach International The Commitment The Kids Network University Education Unchecked 24,223 19.876 13.IXJO 3.049 17,864 1.442 17,1KJO 14,765 12,000 1.748 24,998 15,656 17,378 I2,￿2 13.181 15,922 20,466 10.880 122.048 133.402 Partnershlp Events 81ack Fundln8 Network Alfred Fagon Award Aspire2inspire Dyslexia CIC Black Funding Network Blackout UK Elevated Minds Make a DIffe￿fice at Sand￿$ With Insight Education CIC Sister System 6.990 6.492 523 4,874 10.595 6.554 10.394 11,012 37,398 20,036 &vly stage lundin8 delivered ¥ia Crowdbacker wlth Year Here IOODaysOfNoCode AimHire Breakthrough Bua Chatti Curo Dream Green Heartstrings Impactful Kitchio Living Pr¢)of More Diverse Voices Nudos Pivot Platform Pocket Power Power with Scoobi 2.568 4,135 4.923 978 5.835 971 1,826 3.035 730 5.449 532 6,343 2.795 4.250 4.424 1,165 2,894 5,362 4,818 4,657 26 THE FUNDING NETWORK Ire8lStered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 Spedal Square Circle Untold Voice of Colour 2,875 45 4,706 49,002 28.173 Envlronmental Funders Network (EFN) Li Beaver Trust Environmental Law Foundation The Commitment 19.876 14.765 13,181 47.822 City for LGBT+ in partnership with Give(kn, Macquarie and Consortium Consortium L'union Feministe Libre Opening Doors London PASSOP Rainbow Migration UHAI EASHRI 8,125 6,405 5.917 9.706 11,335 6,239 18,561 29,166 Rwonal TFN Hertfordshlre Daylight Club Young People's Puppet Theatre Youth Talk 3,917 5.189 6.364 15,470 TFN Oxford Ark T Centre Be Free Young Carers Cherwell Theatre Company Flo's.. The Place in the Park Oxfordshire Breastfeeding Support Soundabout 5.460 5,785 4.359 5,824 4,323 4,452 13.134 17.069 Starter Grarbts Asociacion Civil Lucaris. Peru Association Konekt, Macedoni Brasov Community Foundation Buzau Community Foundation Community Foundation of BrunswKk. Gerniany Dalia Association Evaluar Consultores, Columbia Ferencvaros Community Foundation. Hungary 745 903 862 860 911 27 THE FUNDING NETWORK Iregistered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 Fundatia Comrnunttara Mures, Rornania GRASP Barcelona GRASP Bru55els GRASP Milano. Italy Gycikerek es $2arnyak A￿pI￿any, Alban Gyokerek és Szarnyak Alapitvany, Budapest Gyokerek es Szarnyak Alapttvany, Turkey Komunitna nadacia Zdrave mesto. Slovakia Pecs Community Foundation, Hungary Prahova Communfty Foundation Arkhangelsk Centre of s¢xial technologies Fe￿nc¥ar05 Communily Foundation Le Cercle de Donateurs Bruxelles, 8el8ium Mosaico Laboratorio Creativo TFN New Zealand Third Sector Foundation of Turkey ITUWI. Turkey 850 897 897 869 2,144 839 839 911 862 890 1.7CiI 851 11.438 12,161 oiher Grants 4Front Project- Network for Social Change Grant Black Funding Network Grant Casa loana Reprezent Romanian Lliaspora Funding Network 20,1KO 12,734 364 2,925 36,103 1,756 60,784 13,098 487,846 583.354 28 THE FU14DING w￿%￿RKI14￿$1eIed cthiwrtyrttsltyKWJ591 NOTESTOThEFINAfKIAL5TATEMENT5 Fortht y*•rendEd31 2022 9. Supp￿(05T$ ¢oidGertr**iry Ttslrlv* anl 6r•rtrn*￿ TOt*l 20t2 Staff Costs INOTt IOI Rent and Rates TraYellln8Eyense5 Prfntkni & Statio TelE￿One & Computer Bank Charze5 Oeprocyation oiherstaff Costs Profeswjnal &C¢yw¢tsrKYCo#s Othersupport Costs Totsil S*port 8336 6216 661 IS2 Z.193 910 437 719 ISJ75 it6 5557 5.557 4144 441 27,717 20,720 2.204 sc 7.311 3,032 1.4S7 2.396 50,917 3SO 21172 2x1 51 731 2￿71 2ZO si 731 303 146 24D 2￿72 Z2D si 731 442 L463 607 291 479 10.183 f4J7 291 478 146 241D SX132 35 11.669 146 240 S,C¢32 35 3S lJJJ5 11668 2JJ17 fjo¥eM•nce¢¢stsof£S,336 (2021.. £45Wlare InchJL*d. IHE FUWThNG NETWQIK lrntsteredcornparryr¢O.C4C469591 P40TE5 TOTHE FINAKWSTATEMENT5 Far1￿1*arendedJI Marth 2022 sWPORTCOn-¢fWPAAAT￿E I•AIE14DtD) r•warth*l T*x•I 2021 Supwi St¥NCosrslMIi* 101 Rent Rates Tr¥¥ellinB Exy Printin8 & Stètiofiary TelephDne &COrnW￿ nkChar8ts Deprtti4tlon oiherStallC05ts Pmfe55bnal & Consutt4nC¥tw hersurwrt Costs Tqtal Supwnrosts 3374 1537 l&12 io 676 lJ37 29 1291 1.941 11915 19A12 68 4.$01 7,109 2.3a8 1.457 410 8.n9 3.173 60,1?9 io 676 14 451 lJ52 2.13a 701 437 123 1637 952 4SI 711 234 146 IAZZ 2Y 146 351 219 351 219 62 L318 476 9m7 291 82 1310 476 879 317 6018 477 178 475 li￿6 THE FUNDING NETWORK (registered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 10. srAFF NUMBERS AND Co￿5 Total 2022 Total 2021 Wages and salar￿$ Social security costs Pension costs 161.885 11.756 5,376 179,017 162,485 9,285 5,483 177,253 Comprised of: Staff Costs d1￿CtlY attributable to Charitable Activities INote 61 Staff Costs relatin8 to Support function (Note 91 151,230 27,787 179,017 164,338 12,915 177.253 The avera8e weekty number of empbyees during the period was: Number Number Employees 4.32 One employee received remuneration ol more than £60,000 in the band £70,(W80.CiKI12021: one employee in the band £70.C0>80.l￿Tr. During the year, key man4ement, tomprising the CEO and Partnerships and Events Manager, recewed remuneration of £118.90912021- £112,837). 11. TRLISTEES REMUNERATION AND BENEFtrs During the year. no members of the Board of Trustees receryed any remuneralKJn12021: £nill. No members of the Board of Trustees received reimlyjrsement of expen5es12021: £nill. 31 THE FUNDING NETWORK (registered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 12. FIXED ASSETS Office Equipment Total 2022 C05t As at I" April 2021 Additions As at 31" March 2022 7,286 7.286 7.286 7,286 Depreciation As at I" April 2021 Charge in the Year As at 31 March 2022 2.874 1,457 4.331 2,874 1,457 4,331 NBV a5 at 31 March 2022 N8V a5 at 31" March 2021 2.955 4,412 2.955 4,412 I* DEBTORS 2022 2021 Due wiihlTh one year Other debtors 52.880 52,880 49.018 49,018 14. CREDITORS: Amoupifs FAWNG DVE WITHIN ONE YEAR 2022 2021 Trade Creditors Grant commitments Social security and other taxes Accruals 2.992 68,399 1,903 19,236 92.530 755 86,460 3.597 15,935 106.747 32 THE FUNDING NEfwoRK Ire8lStered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 15. DEFERRED INCOME 2022 2021 Deferred income 182.856 182,856 78.555 78,555 Oeferred income Balance at l April 2021 Amount released in year Amount deferred in the year Balance at 31 March 2022 78.555 178.5551 182,856 182,856 123,555 190,LX(JI 45,OC(I 78,555 16. STATEMENT OF FUt4DS Trnnsfers & investment galns/{1o￿e$) Brought F¢)rward Incomi Resour Resources Expended Carried Forward DESIGNATED FUNDS Swan Appeal Office Costs Digltal Transforrnation 134,050 15,OC 20.OCN) 169.050 1110,6791 114,5051 120,OCQI 1145,1841 23,371 495 23,866 RESTRicfED FUNDS Grant-making TFN International 530,564 78,555 604,064 1487.8461 177,1321 1564,9781 142,7181 33,173 33,173 34.596 34,596 142,7181 SUMMARY OF FUNDS Designated Funds General Funds 169.050 32,794 201,844 609.119 810.963 1145.1841 187,9)2 42,718 142,7181 23,866 119,298 143,164 34.596 177,760 98,469 98,469 33,173 131,642 1199.8671 1199,8671 1564.9781 1764,8451 Restricted Funds The Swan Appeal deS￿nated fund rep￿sent monies raised by special appeal during 2021122 to cover core costs over 3 years. Thi5 fund is being allocated across each year based on the 5pendinB plan for that period. The Office Costs designated fund ￿Presents amounts donated in order to offset the increased office costs from the rnove into rented office Spa￿ in 2019120. The Digital Transformation reserve represents funds to be used to put in place the infrastructure required to run hybrid events. 33 THE FUNDING NETWORK (registered company no. 04046959} NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 Money raised at UK Events by The Fundirvd Network 15 for spectfic non-profrts. These funds are treated as restricted and have been paid to the respective non-profits less a levy of on average 7.5% to cover overheads. The levy is treated as a trnnsfer between funds (see belowl. Restricled grants have also been receNed during the year to fund the development of TFN activrties in overseas countries ITFN Internationall. COMPAIIATIVE STATEMENT OF FUNDS Transfers & investment Eainslllosses) BTOU8ht Forward CaTried Forward Resources Expended DESIGNATED FUNDS Swan Appeal l)ffice Costs 9,641 20.(￿￿) 129.6411 I16,9￿) 146.5411 19.041 27.500 RESTRicfED FUNDS Grant-making TFN International 631,342 90,(XX) 721,342 1583,3541 (69,0301 1652,3841 147,9881 12.203 12.203 33,173 33,173 47,9881 SUMMARY OF FUNDS Designated Funds General Funds 19,041 89,440 108.481 12.203 120,684 27.SLM) 74.802 102,302 721,342 823,644 146.5411 94,529 47,988 147.9881 1160.3021 {160,3021 {652,3841 1812,6861 98,469 98,469 33,173 131,642 Restricted Funds 17. TRANSFERS Restricted Funds 2022 Deswdnated Funds 2022 un￿stricted Funds 2022 Transfer in the year comprises: First year of Swan Appeal Released Transfer to cover office rental costs Transfer to cover the cost of digital trnnsformatK)n Levy Charged 1110,6791 114,5051 120,OCM)I 110.679 14,505 20,OCL) 42,718 142,718} 34 THE FUNDING NETWORK (registered company no. 040469591 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 COMPARATIVE TIiANSFER5 Restricted Funds 2021 Designated Funds 2021 Unrestricted Funds 2021 Transfer in the year comprises: Final year of Swan Appeal Released Transfer to cover office rental costs Levy Charged 129,6411 I16.9￿} 29.641 16,91JO 47,988 147.9881 18. ANALYSIS OF NET ASSEf5 BETWEEN FUND5 t)esignated Funds General Funds ftestricted Funds Total Funds Fixed Assets Debtors Bank Creditors due within one year Deferred Income 2,955 12.075 111,459 17,1911 2,955 52,880 397.310 192,5301 1182,8561 177.760 40.805 285.851 168.3991 1182.8561 34,596 116,9401 23.866 119.298 COMPARAnVE ANALYSIS OF NET ASSETS BETWEEN FUNDS Designated Funds General Funds Restrided Funds Total Funds 2021 Fixed Assets Debtors Bank Creditors due within one year Deferred Income 4.412 4,412 49,018 263,514 1106,7471 178.5551 131,642 49,018 149,171 186,4611 178.5551 33,173 114,343 120,2861 98,469 19. PENSION COMMITMEKrs Part of the salary of the staff members ts paid in the form of contributK)ns to a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. An aut￿enrolrnent workplace pension scheme is now also in operation. The pension cost charge represents total contributions payable by the charity to both fund5 and amounted to £5.37612021: £5.4831. 35 THE FUNOING NETWORK Iregi5tered company no. 040469591 NOTES TO THE FINANCIAL sfATEMENTS For the year ended 31 March 2022 20. RELATED PARTY TRANSAcnoNS Duringthe year, donations totalling£21,275 (2021.. £11.(X)01 were received by the organisation from Trustees. One of the Trustees of TFN was empbyed ès a consultant during the year arrfl received payment for these servKes totalling £6.OY). 36 THE FUNDING NETWORK (registered company no. 040469591 NOTES TO THE FINANaAL STATEMENTS For the year ended 31 March 2022 21. COMPARATIVE STATEMENT OF FINANCIAL A￿1vIT Unrestricted Funds 2021 Designated Funds 2021 Restritted Funds 2021 Total Funds 2021 INCOME AND EN(M)WMENTS FROM: Donations and legac￿$ Charf(able activities Other tradin8 artNitres Other Grants Investments TOTAL 45.578 20.635 27.5111 721.342 794,420 20,635 8,404 185 823,644 185 74.802 27.5Th) 721,342 EXPENDITURE ON: Raisin8 Funds Costs of generating voluntary income Charitable activities UK Events Charity Training and Support Membership Support TFN International Grantmaking TOTAL EXPENDITURE 20.586 20,586 64.576 17.8Sfl 14.889 64,576 17.890 14.889 69,030 625,715 812,686 69,030 583,354 652,384 42,361 160.302 Net incomellexpenditure) before transfers Transfer between funds MOVEMENT IN FUNDS 185,5(Kil 94.529 9.029 27.SLK) 146.5411 119,0411 68.958 147.9881 20.970 10,958 10.958 RECONauATION OF FUNDS TOTAL FUNDSAT I APRIL 2020 89,440 19.041 12.203 120,684 TOTAL FUNDS AT 31 MARCH 2021 98.469 33,173 131,642 37