THE FUklDING yfpAinDK
ANNUAL REPORT &
FINANCIAL STATEMENTS
For the year ended 31 March 2023
Company limited by guarantee no. 04046959
Registered charity no.1088315
THE
FUNDING
NETWORK

CONTENTS
Reference and Administrative Detsils of the Charity. Its Trustees and Advisers
Chair's Statement
Board Of Trustees. Report
Independent Auditor's Report
19
statement of Financial Activities
22
Balance Sheet
23
Cashflow Statement
24
Notes to the Financial Statements
25
THE FUNDING NEfwoRK

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY.
ITS TRUSTEES AND ADVISERS
Board of Trustees
Mr K Solidum. Chair
Cappointed 3 October 2018.
appointed Chair 9 January 2023)
[resigned.1 June 2023)
[8ppointecl l March 2016]
[8ppointed l June 2017]
[8ppointecl16 April 2019J
[8ppointecl17 September 2019)
[8ppointed I September 2020)
Cappointed 4 May 2022)
Cappointed11 October 2022]
[8ppointecl 25 January 2023)
[8ppointed 22 May 2023]
Mr S Lush
Mr M Chuter
MrA coles OBE
Mrs A Clarke. Deputy Chair
Ms FJ Johnston
Ms o Aig-lmoukhuede
Ms C Chambers
Ms W Brierley
MrA D Morton
MsisLee
Company Secretary
Ms caroline Swanson
[8ppointecl 30 October 2019]
Chief Executive
Eugenie Harvey
Company reg. no.
04046959
Charity reg. no.
1088315
Registered Office
Toynbee Hall
4th Floor. 28 commercial Street
London, E16LS
Auditor
Knox Cropper LLP
65 Leadenhall Street
London, EC3A 2AD
Bankers
Triodos Bank
11 The Promenade
Bristol, BS8 3NN
co-operative Bank
PO Box 250. Delf House, Southway
Skelmersdale, WN8 6M
THE FUNDING NETWORK

CHAIR'S STATEMENT
The Funding Network tTFNJ reached 8 major
milestone in the12 months since we last reported..
20 years of raising f unds for highly impacttul sm811
ch8rities working for social change from funds
poolecl trjy individu818nd institutional donors at live
ancl virtU81 crowdfunding events. From its humble
beginnings as a group of friends committing
themselves to not only be generous but to inspire
others to follow in their footsteps. TFN has grown
into a respected infrastructure organisation with a
gloL)al footprint.
We celebrated our 20th anniversary with 8 special
Members. reception in October at which we
unveiled 8 new br8nd identity and Str8pline'.
connections that change the world broughtto life
in a 20 Yedr Impact TreDort. If you've not yet read
the reporL I hope that you will clo so as 8 companion piece to these accounts. [You c8n read it by
clicking on the pink hyperlirnk. by visiting our webslte or we will happily send a hard copy by post].
While so much has changed in two decades. TFN'S model has WlthstOOd and indeed thrived. The
covid-19 pandemic has Scarred us in many ways and contributecl in part to the current crisis in the
cost of living. Our world is changing. but the need for small org8nis8tions supporting import8nt
causes that will see us through these difficult times. remains. It is 8g8inst this backdrop that l am
pleased to presentTFN's annual report and audited accounts for the year ended 31 March 2023.
20 years of impact
At our 2011) anniversary celebration. we announced that total f unds r8ised through TFN events in the
UK and those organised t>y our international network of aff iliates stands at £17 million with £9.8
million raised in the UK from 12.000 individual donors.
These funds suppofled the work of 2,500 small non-profit organisations in the UK and around the
world and improved the lives of tens of thousands of their benefici8ries.
In the UK. 96/0 of the org8nis8tions we support report being better prepared to fundraise because of
the experience. 63Yo report leveraging f urther funds 8s result of being f undecl by TFN and 83/0 of the
roughly 600 organisations we have funded since 2012 are still thriving today
The next decade
As we continue to evolve our post-P8ndemic strategy and specifically TFN'S role as a 'connector'. we
h8ve t)een considering what might be described 8s our 'ripple effect.. if a TFN event is a pebble
dropped in the proverbial pond. how deep and far reaching are the ripples it creates? What wider
contributions might we L)e making to the small charity sector and to charitable giving gener811y. and
how coul(i understanding this better. enaL)le us to scale our impact on both sm811 charities and
donors over the coming decade?
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CHAIR'S STATEMENT
In the 12 months after 8 TFN event. we monitor ancl report on the impact of funds raised. the pitch
CO8ching and the connections made 8t events that can have signific8nt impact on an org8nisation.
For example..
My Life Films. which was first funded by TFN in 2017. has gone on to receive further grants
totalling £180.000 from a TFN Member who first met them at the evenL
Refug22&￿0me.Which was first funded at a TFN event in 2018. has gone on to raise grants
exceeding £250.000 from 8 ch8rit8L)le trust represented at that event - a great return on the
£250 sponsor contribution m8ae by the nominating TFN MemL)er!
Ancl Beiiver TrLlSt. which Pltched at this year's EFN Live event 8nd raised £22.000 to support
work to regenerate UK rivers. went on to receive a grant for £30.000 from a charitable
foundation attending the event.
However. looking to the ripples undulating towards the edges of our pond - which is to say the longer-
term impact of our events and the work they entail - we see TFN funded org8nis8tions appearing as
grantees of major institution81 f unders. With TFN funding. organis8tions which were too small. new or
unproven to start. have hence been 8ble to increase their capacity. gather evidence of their impact
and use the skills and confidence they gained to make their case stronger.
CASE STUDY
Settle helps care-experienced young people live
independently. TFN raised its first ever funds at an event
in partnership with Year Here (the now sadly closed
social enterprise incubator programme) in 2014- £1,225!
Settle went on to pitch at Youth Funding Network [YFN)
the following year, TFN London in 2017 and the Strategic
Funding Group in 2018 at which they raised £21,275.
These funds enabled them to recruit a Programme
Manager who secured a grant from the Pret Foundation
and released the CEO to fundr8ise. The following year.
Settle's grant income increased from g30k to £3231L
SETTLE
"We've thoroughly enjoyed working with TFN over the
-iTh last 5 years and are extremely grateful for their support
of Settle at every stage of our journey - from just a
seedling of an idea to a scaling charity working with
hundreds of young people. It's been so beneficial to have
a funder that has supported us at each step and has
enabled us to grow successfully." Rich Grahame, CEO
Going forN8rd, we will invest time and resource in building a more complete picture of the role we're
P18ying in supporting charities such as Settle. both in the short and longer term 8nd use this evidence
to inform our plans for growLh.
THE FUNDING NETWORK

CHAIR'S STATEMENT
Diversity. Equity. and Inclusion
Organis8tions in every sector 8re becoming more attuned to the hidden L)iases that Can affect how
individuals present. engage. and behave with individuals who are different to them or are members
of a group with which the individual does not identify.
AS a grant maker to org8nisations
addressing myri8d social injustice
issues. it is imperative th8t TFN invests
time and consideration into the ways
in which the principles of diversity.
equity and inclusion manifest in all
aspects of our work.
COII IIECTI
THAT CH.:
HEW-
AS Chair. l understand that DEI
considerations are complex and l also
believe they present 8 huge
opportunity to involve more people in
our work. aciding depth and breadth to
our impact. The organisation has
established its intent to develop a DEI
fr8mework and 8 set of actions th8t
will help us become a more inclusive
org8nis8tion and funder. I look forward
to reporting on those and the progress
we are making.
Challenges ahead for the small
charity sector
Over the past 12 months we've had the news of the closure of two infrastructure org8nis8tions
dedicated to ch8mpioning the sm811 charity sector and suppoflirng the thous8ndS of small UK
ch8rities with training. 8dvoc8cy and fundraising support. In March 2022. the Small Charities
C081ition closed transferring its help desk function to 8 partnership between the Founoation for social
Improvement [FSI] and the NCVO. The following March it was announceo that the FSI woul(18lso close.
These longstanding organisations both cited f inancial sustainability as the reason for closure whilst
also making the case for the increased need for their work to support small charities.
The demise of the Small Charities Coalition and the FSI (underlined t>y the findings of a report by 360
Giving titled
alys￿. which describes the "fragile ecosystem" of
volunt8ry sector infrastructure organis8tions) drastically reduces the support available to small
charities and downgrades the sector over811.
For those of us who believe in the vit81 role of sm811 charities in supporting people facing multiple
layers of disadvantage. this is (ieeply worrying news. Over the next12 months we will be cornsiclering
what role TFN might play in filling the gaps. We will use the at>undant evidence we're gathering of the
THE FUNDING NEfwoRK

CHAIR'S STATEMENT
imp8Ct of small charities to promote the value of their work 8n(i celebrate the in(iivi(iuals and
institutions that supporl them to encourage more indivicluals and institutions to join us as members.
Thank you to those who make our work possible
I would like to conclude by expressing my gratitude to the many people an(i organisations that have
contributed to the impact TFN has had in the UK and around the world over the past12 months.
TO our members - inclividuals. families. trusts. corporate foundations. and companies - thank you
for your generous and unstinting support. Members are central to TFN'S work. f inding and selecting
charities. bringing guests to events. and providing a reliable bedrock of donations and contributing
to TFN'S own core costs through the Sw8n Appe81.
TO the deeply valued group of companies who host our events attheir Phenomenal premises. offering
unp8r811elecl city views. gracious hospitality 8rnd match funcling that accelerates giving on the day
and incre8seswhatwe can giveto ourcharity P8rtners. wethank Octopus Giving. M8cquarie. Mishcon
De Reya LLP. Picton. R8thbone Greenb8nk. T Rowe Price and J8nus Henderson Investors who have
ensured our success 8ncl amplified our impact in the last year.
Thank you to the funders who support our costs and contribute match funding at events - Brooks
Foundation. City Bridge Foundation. Ennismore Foundation. EQ Foundation. Frederick fvl ulder
Found8tion. J Paul Gettyjnr Charitable
Trust and for 8 decade of support to
our internation81 programme. Charles
Stewart Motl Found8tion and M8rie-
Louise von Motesiczky Charit8L)le
Trust.
l am immensely inspired by ancl
grateful to the TFN team. led by the
brilliant Eugenie H8rvey. who continue
to show us the way to make
connections that can change the
world. I know I speak for m8ny when I
Say 8 particularly thank you to Jennie
Jeffery who left us in May this year
after g years of dedicated service to
TFM and the many charities she
supported over the years.
This year h8s seen considerable
ch8nge on the Board but one thing
which has not ch8nged is the
unwavering support trustees offer me
as their new Chair. each other. and the
team. TFN is extremely fortunate to
THE FUNDING NETWORK

CHAIR'S STATEMENT
have such a competent. committed. and caring group of Trustees and I thank them 811 for their hard
work these p8St12 months.
I would like to extend sincere thanks to my predecessor Samuel Lush who stood down in June after
six years on the Board and five years as Chair. It is testament to his leadership that TFN weathered
the pandemic and emerged from it in good health. Allis Clarke. TFN'S Deputy Chair has provided
fantastic continuity during the period of transition
as h8s our Company Secretary. Caroline Swanson.
Thank you both.
Michael Chuter. who has been on the Board for
seven years and Treasurer for six stands down in
October 2023 and I th8nk him for the contribution
he has made to TFN s work in that time. We are
delightecl to welcome Wendy Brierley as TFN'S new
Treasurer and thank her for stewarding us through
this. Alan Morton. a longstanding TFN memL)er and
Isabel Lee joined the Board in January and May
respectively 8ncl l am delighted that Ofovwe Aig-
Imoukhuede has agreed to serve a further term.
AS TFN continues its evolution into its third decade.
it navigates re81 complexity in our worl(i. gre8ter
demancl than ever for the vit81 support that sm811
and mighty non-profits Can provide Liut huge
macroeconomic and political movements that
make life harder - especially for those already on the
margins.
we will continue to deliver wh8t we're good at making connections that change the world - Liut
we will also seek to be an even more active player in the UK'S grant making community and the small
charity sector. building on the firm foundations of our 20-year track record. We maintain an
important piece of infrastructure in the voluntary sector. a platForm that connects two growing
communities thoughtful 8nd big-hearted donors and compelling small non-profit organisations.
Kawika Solidum
Chair
THE FUNDING NETWORK

BOARD OF TRUSTEES, REPORT
TheTrustees(who are also the Directorsofthe ch8rit8ble companyforthe purposesofthe companies
Act) present their combined Directors. report and Trustees. 8nnu81 reporL as required by company
18W. together with the audited financial statements of The Funding Network (the companyj for the
ye8r ended 31 March 2023. The Trustees confirm that the Annual Report and fin8ncial statements of
the company comply with the current statutory requirements. the requirements of the comp8ny's
governing document 8nd the provisions of the Accounting 8ncl Reporting by Ch8rities. statement of
Recommended Practice (SORP (FRS102 second edition - effective lanuary 2019)) The Trustees and
Directors Reports have been combined under companies Act 2006.
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
Objectives
The Funding Network tTFM) is an open network which facilitates connections L)etween donors and
small non-profit organisations. most typically registered charities.
Specifically. TFN aims to.
raise money for organisations cre8ting soci81 change,
provide a public benef it t)y educating attendees at events about social change projects..
encourage an incre8sing number of people to engage in active philanthropy.
help individuals make an impact by en8bling them to combine their giving with others.
Activities
Crowdfunding events
TFN carries out its objectives primarily by organising live. virtual ancl hybrid crowdfunding events at
which small non-profit organisations most typically charities. have the opportunity to make a short
pitch for £10k to a room full of potential individual and institutional donors. TFN supports charities to
develop a compelling pitch and f unds raised may be used toward core costs or to deliver a project.
Organis8tions which use these funds to position themselves for 8 Strategic "step change" 8re invited
to apply to pitch for second Stage funding of £20k at a members-only ["Strategic Funding Group"J
event the following year.
Issues addressed at events SP8rn the spectrum of nee(i in the UK and around the worlcl. on any given
evening an audience might have the opportunity to support children impacted by parental
imprisonment. patient-led advocacy for fair access to treatment. refugees and asylum seekers facing
homelessness and targeted education opportunities for children living in poverty in the Global South.
working with partners with specialist knowledge. TFN also organises themed crowdfun(iing events
t8rgeting underfunded issues and need. Currently. these include racial justice with Black Funding
Network. the environment with the Environmental Funders Network and LGBTQl+ rights with LGBT,
consortium. Giveout and Macquarie.
Outside of London. TFN continues to support the declicated volunteers in Hertfordshire who for seven
years have organised 8n 8nnu81 event known as TFN Herts. After a break necessit8ted by the
pandemic. work has begun on a live event in Herifordshire in early 2024.
In most cases. events are hosted t>y companies which provide the venue. technic81 support and
hospitality ali free of charge and in some cases match funding for which they receive extensive
recognition. TFN'S members make up the majority of the audience and give the majority of the funcls
THE FUNDING NETWORK

BOARD OF TRUSTEES, REPORT
raised 81though events are open to anyone to attend (excluding the strategic funclirng event describe
above)
Membership engagement
Members 8re central to TFN'S delivery of its charitable Objectives finciing. nominating. selecting. and
funding organis8tions that pitch 8t our events as well as contributing to TFN'S core costs through
annual membership contributions. Many members advocate on TFN'S t)ehalf. bringing friends and
colleagues to events to help widen the charity s network of support and sharing their experience of
giving through TFN in reports. on our website and at events. to inspire others. Through its membership
programme. TFN works to enlarge the pool of inciividual and institutional donors and increase the
funds av8i18ble to sm811 charities.
Scaling our impact
TFN widens its impact by sharing its live crowdfunciing model to mission-aligned organisations and
groups. For the past ten years. TFN has supported leading international civil society organisations
with 8 focus orn Philanthropy development to learn and adopt TFN'S crowdfunding model. often
introducing the giving circle concept for the first time. I nterrnationally. TFN has SUPPOrted 28 Partner
org8nis8tions during that time. hosting study visits to the UK. delivering training and administering 8
starler grants programme funded by the Frederick Mulder Foundation. Funds raisecl at events
organised by partner organisations are not included in the audited accounts.
Since 2020 TFN has worked closely with longstanding member. Patricia Hamzahee to support an
initiative she co-leads to enlarge the community of Black donors in the UK and increase funds
available to Black-led non-profits in the UK. To date. TFN has supported the Black Funding Netrvork
to org8nise four events and we are excited about working together to grow the network over the
coming years.
ACHIEVEMENTS AND PERFORMANCE
TFN in the UK
TFM m8de grants to 40 non-profits tot811ing £621k in 2022-23, which we raised 8t12 crowdfunding
events in the UK. This compares with £526k in 2021-22 raised through 11 events and inclu(ie(18 £17k
direct grant. This generosity Stemmed from 709 (ion8tions across our flagship and partnership
events. Our five flagship events (now known 8s"connectors- as in "New Year connector". "Summer
connector- eta) raised an 8ver8ge of £47k at each evenL The 8ver8ge grant made to a charity was
£13.989. which is 39% moreth8n the £10k target.
In the past year we held two meetings of our Strategic Fun(iing Group CSFG) - an opportunity for
individual and institution81 members looking to support previously funded org8nisations to make a
step change in their work Csee the Settle case study above]. The aim is to raise £20k for each of three
organisations selected to pitch.
AS part ofthe 20th annivers8ry re-brand. meetings ofthe Strategic Funding Group are now known as
"Connector Plus" events. making explicit their role in raising second Stage and i or tr8nsform8tiornal
10
THE FUNDING NETWORK

BOARD OF TRUSTEES, REPORT
funding Two events raised a total of £111.468 for 6 non-profit
org8nis8tions which compares with £115.809 in the year prior.
NON PROFITS
SUPPORTED IN 2022-23
FLAGSHIP
Partnership events
Partnership events enable us to put a specific focus on vital. ASOCIACIONKANTAYA
BLOODY GOOD PERIOD
underfundecl issues 8ncl to give our members the opportunity of CATCHING LIVES
supporting highly impactful organisations addressing them.
CLIMATE EMERGENCY
CLOWNS WITHOUT BORDERS UK
For the sixth year were delighted tojoin forces with the Environmental
EXPERIENTIAL YOUTH ASSOCIATION
FORUM APULUM
Funders Network to deliver EFN Live. The virtual event which was FRAZZLED CAFE
supportecl by Rathbone Greenb8nk Investments.waswell attended by
RID OF AND DONATE
KATHERINE LOW SE￿LEMENT
both TFN and EFM'S members and raised 8 total of £58k. Five EFN Live MAYMESSY
ONLY A PAVEMENT AWAY
events have now raised 8 total of £358k for18 org8nis8tions working PROVEG UK
to protect the environment. with 8 further £1.2m leveraged as 8 result SOLAR LINKS
of connections made at the events.
STORMBREAK
THE RESTART PROJECT
THE STRE￿LIFE TRUST
Our partnership with Giveout. Consortium and Macquarie to deliver THE VISIONARIES
the annual City for LGBT+ event raising funds for groups at risk of
TURKEY MOZAIK
human rights abuses in the UK and around the world. entered its STRATEGIC
fourth ye8r. This year's record-bre8king event raised £89k for 15
FUNDING GROUP
org8nis8tions with total funds raiseo now standing at £181k.
CHILDREN HEARD AND SEEN
DANIEL SPARGO MABBS
FOUNDATION
The Black Funding Network has now held four successful events FIVETALENTS
LIGHTYEAR FOUNDATION
raising over £95k for12 Black-led projects and the communities they OBLIQUE ARTS
serve. This ye8r s event held in person and generously hosted by Reed VULCAN LEARNING CENTRE
Smith raised £21.483 for three inspiring org8nis8tions.
PARTNERSHIPS
RK
FIVE ASIDE THEATRE
MINDWALK YOGA
URBAN MBA
IN PARTNERSHIPWITH GIVEOitr. LGBT.
CONSORTIUM & MACQUARIE
HELEM
IRAQUEER
LOVING ME
TRANSLUCENT (FORMERLY
KNOWN AS STEPH'S PLACE)
REWRITtNG ExnNCTtON
RIVER ACTION UK
YOUTH ENVIRONMENTAL
SERVICE
ti
CLIMATE MINDED
JUSTONCE
KALA
SODA
MOSAIC
THE FUNDING NETWORK

BOARD OF TRUSTEES, REPORT
TFN International
Highlights from our international work in 2022-23 include TFN Australia's tenth anniversary at which
they celebratecl having raised $2.3 million AUD for 500 non-profits. and the f irst ever Intern8tion81
Connector event in the UK [pictured below) showcasing the outreach of our partners and the strength
of those re18tionships through which we are aL)le to confidently support grassroots org8nis8tions
across the globe. Following 8 successful visit to stu(iy with TFN in London. the first two events b8sed
on our mociel were held in Valencia. Spain Ct)elow].
STARTER GRANtS
DISTRIBUTED IN 2022-23
I n 2023-23. funds raised through partner events in Albania. Australia.
Belgium. Columbia. Georgia. Germany. Hungary. Latvia. Macedonia.
New Zealand. Peru. Romania. the Romanian Diaspora. Slovakia and
Turkey. totalled £1.012k [2022. £987kJ. These events were 8dministere(i
by partner organisations. rather than TFN directly. so are not included
in these accounts.
BRASOV, ROMANIA
BURGERSTI
GERMANY
BuzAu COM
BuzAu. ROMANIA
CENTRE OF STRAT
DEVEL
TFN'S international offer of training and SUPPOrt for mission aligned
civil society organisations (CSO] working to increase Phi18nthropy. is
greatly strengthened by a Starter Grants programme. generously
funded by the Frederick Mulder Foundation. CSOS that have
successfully completed training in the TFN crowdfunciing model are
invited to apply for 8 grant of el.000 EUR (or local equivalentl for each
of their first three events. In 2023-24 we are excited to mark the 10th
annivers8ry of TFN Intern8tional.
GEORGIA
FUNDATIA
MURES. ROMANIA
LE CERCLE DE t
BRUSSELS. BELGIUM
MOSAICO
PERU
PARTNERÈf SHQIPÉRI PÈR ND
ALBANIA
ROOTS
HUNGARV
COLOMBIA
THE FUNDING NWOR
AUSTRALIA
TURKEY
12
THE FUNDING NEfwoRK

BOARD OF TRUSTEES, REPORT
PRIORITIES FOR 2023-24
A busy ye8r lies ahead with some important projects reaching completion. The events programme
and f unding targets will rem8in18rgely unchanged. however 8 focus will be placed on Connector Plus
events (formerly known 8S SFGJ with 8 view to increasing participation and funds raised. The
overarching strategic objectives for the year and activity to deliver them are as follows..
Objectiva
Activity to deliver
To increase income to fund core costs
and to ensure 8 balance of income
sources [self-generated, grants and
philanthropic donations)
Launch new individual and institutional
membership
Offer.
with
8SSOC18ted
recruitment P18ns ancl new weL)site
Fundraising focused on trusts and
foundations with a record of supporting small
charities and its infrastructure
Launch new Patron Scheme. building on
legacy of Swan Appeal
To embed principles of diversity, equity
and inclusion (DEIJ in all our areas of
our work
Develop a DEI framework for alig ning internal
and extern818Ctivities with this approach 8rncI
for measuring progress
Establish a common understanding 8mongst
the Board and St8ff team that will inform how
TFM realises its DEI approach
To understand the impact of the funds
we raise and the support we offer to
charities
Develop impact framework with scope to
cover short ancl long-term outcomes
Develop Charity Alumni progr8mme to
form81ise longer-term re18tionships with
fundeci charities
To position TFN as a leader in the
philanthropy sector in the UK
Develop new communications strategy with
the launch of a new website as its cornerstone
Programme of activity to mark the 10th
anniversary of TFN International
To strengthen TFN'S organisational
capacity to prepare it for growth
Recruit experienceci Operations Director to
ernable CEO to focus on long-term strategy.
fundraising and sector leadership
Digit81 transition to streamline processes and
better manage data led
Governance review to include review of
policies. updated Articles of Association for
consi(ier8tion at 2023-24 [AGM)
13
THE FUNDING NETWORK

BOARD OF TRUSTEES, REPORT
FINANCIAL REVIEW
Result for the year
TFN'S income comprises of donations. membership fees. levy income and grants which enable TFN
to make grants to non-profit organis8tions and Sustain its activities. The majority of clonation income
is received. via its events. from members. individuals. grant making trusts and corporate supporters
to awarcl grants to Carefully selectecl non-profit organisations.
TFN reported 8 10% increased income to £888,261 [2022. £810.963) for the year. primarily due to an
increase in donations and grants. this includes the f irst tranche [£55.000) of a new four-year grant
from City Bridge Foundation Ctotal.. E175.000) to support core costs and ciedicate staff resource to
growing our corporate memL)ership.
Expenditure in the year amounted to £893.431 [2022. £764.845J with grant making increasing L)y
£112.080. or 22Y.. to £621.555 [2022. £509.475). The costs of running the org8nisation (UK and
International) incre8sed by 6/, to £2Tr.876 (2022. £255.370).
This resulted in a small over811 deficit of £5.170 for the year [2022. sufpius of £46.118J. This shortfall
related predomin8ntly to restricted f unds. Wlth unrestricted funds providing a surplus of £35.439
[2022. £20.829] As a result unrestricted general reserves have increased to É154.737 C2022. £119.298]
TFN had free reserves of £139.149 at 31 March 2023 [2022. £116.343J. which meets the reserves policy
as set out t)elow.
Details of Reserves
TFN is a small and nimble organisation that relies on 8 combination of membership fees. le￿ income
and grants to sust8in its activities. as earned income 81one would not 811ow us to continue operating.
While this diversified mix of income reduces financial risk. if there were to Lie 8 gap in earned or
fundraised income. it is likely th8t the charity would neecl to draw on its free reserves to ensure th8t
TFN Can continue to fulfil its objectives in supporting non-profit org8nis8tions whilst working to
secure new funding.
The trustees have agreed that TFN should have reserves to sustain operations for 8 period of 3 to 6
months and have set minimum reserves target of £95.000 and an optimum target of £175.000.
The level of reserves is being reviewed every 3 months by the Trustees at their regular meetings. This
policy is reviewed ye8rly to ref lect any significant ch8nges to the ch8rity s work and circumstances.
Risk
As p8rt of our dedication to responsible governance anci effective risk management. we acknowledge
the existence of various risks th8t have the potenti81 to imp8Ct our operations. financi81 stability. 8rnd
ability to achieve our objectives. In accordance with this commitment. we present the following
summ8ry of key risks considered in our financi818ccounts.
l. Reputational Risk
We recognise the importance of our reputation as a trustworthy an(i responsible charity. Any actions
or events that could neg8tively impact our reputation 8re acknowledged as 8 risk This includes
factors such as compli8nce with ethical st8nd8rdS. donor relationships. DEI and the alignment of our
actions with our values an(i stakeholder expectations.
14
THE FUNDING NETWORK

BOARD OF TRUSTEES, REPORT
2. Key Executive staff Member Risk
TFN is 8 sm811 ch8rity The departure or absence of key executive staff members poses a risk to the
continuity of our le8dership 8rnd organisational knowledge. While we have implemented Strategies
such as succession planning. professional development and transparent communication. this risk
remains a consicieration.
3. Financial Risk
We understand that financial sustainability is essential for achieving our mission. We acknowledge
potential risks re18ted to funding challenges. economic f luctuations. and donor Qependencies. Our
approach to mitig8ting financial risk includes m8int8ining fin8nci81 resemes. diversifying funding
sources. and strategic fin8nci81 Planning.
4. Major External Events Risk
The impact of major extern81 events. such as pandemics. natural disasters. and economic downturns.
on our oper8tions and mission delivery is recognised. We have contingency plans in place to 8ddress
potential disruptions and ensure continuity in serving our beneficiaries.
5. ESG Risk (Environmental. Social. and Governance)
As an org8nis8tion dedicated to positive soci81 impact. we acknowledge the importance of ESG
considerations. We understanci the reputational and financial implications of not effectivelv
m8n8ging our environmental. social. and governance practices.
We are committed to transparent reporting. stakeholder engagement and ongoing improvement in
these areas.
In summary. The Funding Network is dedic8ted to identifying. assessing. an(i mitigating risks that
could impact our org8nis8tion's mission. reput8tion. and financial st8nding. Our commitment to
tr8nsp8rent reporting. strategic p18nning. st8keholder engagement. and ongoing risk assessments
enables us to proactively address challenges and ensure our resilience in an ever-changing
environment. We maintain a risk register with risks. ratings. mitigations and monitoring listed. The
full risk register is reviewed at le8St annually by the Board of trustees.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Public Benefit
The Trustees confirm that they h8ve referred to the Ch8rity commission's gener81 guidance on public
benefit when reviewing the charity S aims 8rnd Objectives and in Planning future activities. The
Trustees ensure that TFN'S social change mission is carried Out for the public benefit through the
cre8tion of funding events which support sm811 charitable org8nis8tions that aim to enable enduring
positive tFansform8tion for individuals. communities. andlor society and the environment over the
long term. This support includes raising funds. the development of new skills (e.g. presernt8tion
training). access to new networks and the opportunity to secure pro L)ono and Other volunt8ry
support.
15
THE FUNDING NETWORK

BOARD OF TRUSTEES, REPORT
Examples of charit8L)le organisations supported include those which..
address issues of inequality 8nd disadvantage.
create 8dvocacy / campaigning / dissemination to change society for the L)etter,
aim to find 8 new / better solution to 8n underlying problem..
focus on person81 development to change the way benefici8ries act and live..
pilot solutions with the potent181 for exp8nsion to supporL many more people.
Our charitable organisation is primarily set up to support.
other small charitable organisations that are selected to pitch at our events for funds and
other support.
individual and institutional donors that attend our events to meet Such org8nis8tions an(i to
offer them support.
the beneficiaries of the ch8rit8L)le org8nis8tions funded at our events. in he81th. education.
human rights. crime prevention. environment. livelihoods and inclusion.
TFN also provides 8 V8Iu8Lile service to civil society groups worldwide through its international
programme. as described previously in this report.
Constitution
The company is constituted under a Memorandum of Association dated 3 August 2000 and is a
registered charity. number1088315.
The charitat)le objects ofthe 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 charities. charitable institutions.
or ch8rit8t)le purposes and if more than one in such shares and in such manner as the t)08rd of
directors of the company thereafter in their atisolute discretion from time to time sh811 respectively
select ancl think fit.
The principal aim of the company is to provide 8 Putilic crowdfunciing forum which.
8CtS 8s a 'm8rketpl8ce' to which individu81s bring projects that work tOW8rdS 8 fairer. healthier
and more sustainable world-.
provides a mutually respectful setling. where those who might like to join with others in
funding such projects get to meet 8nd hear from those doing the work.
promotes a paradigm of social change giving. that those who h8ve much can usefully share
their wealth in creative 8ncl pro8Ctive ways. and that the process of giving can be enriching to
the giver as well as the receiver.
It achieves this by running events (and SUPPOrting others to run events) for the public L)enefit.
bringing potent181 donors together with sm811er charities and SOCi81 enterprises in need of funding.
and encouraging donations to be Pledged and suppofl in-kind facilitated at each event.
Trustees
The management of the company is the responsibility of the Trustees who are elected and Co-opted
under the terms of the Articles of Association. All the Trustees are familiar with the organisation and
its operation before being appointecl Trustees.
Trustees are recruited according to the skills. knowledge and experience required and with a view to
delivering on the ch8rity s commitment to DEI. Existing Trustees identify where gaps need to be filled.
such as those re18ting to an area of governance. candidates are interviewed by the Chair. another
THE FUNDING NEfwoRK

BOARD OF TRUSTEES, REPORT
Trustee and the CEO. Each newTrustee receives an induction. Charity commission's Essentl81 Trustee
leaf let. minutes for previous Board meetings. 8 copy of TFN'S Memor8ndum & Articles of Association.
a copy of TFN'S Policies and the most recent annual accounts. New Trustees are 81so offered the
opportunity to receive training appropriate to their and TFN'S needs and to spend time in the TFN
office observing the organisation's operations. Trustees serve an initial term of three years anci are
eligible for three further years. An anonymised Board Effectiveness survey is undertaken by the
Company secretary annually providing the opportunity forthe Board and Executive to benchm8rk its
performance and identify areas for improvement.
Organisation and Management
The Funding Network has nine Trustees. Trustee meetings are held four times per year. Papers
circulated L)etween ancl before each meeting are used to keep the Board irnforme(i about
developments and prepared for any key clecisions required. The Boar(i sets Strategy and policy for
membership recruitment. grant making and financial matters.
While Trustees govern the organisation. the day-to-day running is delegated to its staff. I n 2022_23
the staff comprised five permanent roles (Chief Executive Officer. Impact M8n8ger. Finance and
Grants Manager. Events 8n(i communications Manager 8nd Membership Manager).
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Board of Trustees is responsible for preparing the Annual Report and the financial statements in
accordance with 8ppIic8ble law 8nd United Kingdom Gener811y Accepted Accounting Pr8Ctice.
Comp8ny18w requires the Trustees to prepare financial statements for each fin8nci81 year which give
a true and fair view of the state of affairs of the charitable company ancl of the incoming resources
and applic8tion of resources. including the income and expenditure. of the ch8rit8ble company for
that period. In preparing these f in8ncial statements. the Trustees are required to.
select suitable accounting policies ancl then 8pply them consistently.
obseNe the methods and principles in the Charities SORP.
makejudgments and estimates that are reasonat)le and prudent
state whether 8PPIicabie UK accounting standards have been followed. subject to any material
departures disclosed and explained in the financial statements. 8nd
prepare the financi81 statements on the going concern basis unless it is inappropriate to
presume th8t the charitable company will continue in business.
The 808rd of Trustees has over811 responsibility for ensuring that the Charity has an 8ppropri8te
system of controls. fin8nci818nd otherwise. The Trustees are also responsible for keeping adequate
accounting records which disclose with re8sonable accuracy at any time the financi81 Posltion of the
Charity and enaL)le them to ensure that the f in8nci81 statements comply with the Companies Act
2006. the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions
of the governing document. They are also responsible for safeguarding the assets of the Ch8rity 8rncI
hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.
17
THE FUNDING NETWORK

BOARD OF TRUSTEES, REPORT
The Board of Trustees is responsible for the maintenance and integrity of the corporate and financial
information included on the company s weL)site. Legislation in the United Kingdom governing the
prep8ratlOrn 8nd dissemination of financi81 Statements may differ from legislation in other
jurisdictions.
In so far as the Trustees are aware.
there is no relev8nt 8udit information of which the ch8rit8L)le company's auditor is un8W8re-.
the Trustees h8ve taken all steps that they ought to have t8ken to make themselves aware of
any relevant audit information and to establish that the auditor is aware of that information
This report was approved and authorise(i for issue L)y the Board of Trustees and signed on its beM8lf
Kawika Solidum
Chair
Date.11 DecemL)er 2023
18
THE FUNDING NETWORK

INDEPENDENT AUDITOR'S REPORT
Opinion
We have audited the financial statements of The Funding Network Cthe'charitable company ] for the
ye8r ended 31 March 2023 which comprise the statement of fin8rnci81 activities. the t)a18nce sheet.
cash flow and notes to the fin8nci81 statements. including a summary of significant accounting
policies. The financial reporting framework that has been appiiecl in their preparation is applic8L)le
18W 8nd United Kingdom Accounting St8ndards. including Financial Reporting Standard 102 The
Financial Reporting St8nd8rd 8ppIic8ble in the UK 8na Republic of Ireland [United Kingclom Generally
Accepted Accounting Pr8Ctice]
In our opinion. the f inancial statements..
give 8 true and fair view of the state of the charitable comp8ny s affairs as at 31 March 2023
and of its incoming resources and application of resources for the year then ended.
have been properly prepared in accordance with Uniteci Kingdom Generally Accepted
Accounting Practice..
have been prepared in accordance with the requirements of the companies Act 2006.
Basis for opinion
we conducted our audit in accordance with International St8nd8rdS on Auditing [UKI CISAS [UK]J and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report We are independent of
the charitable company in 8ccord8nce with the ethical requirements that are relevant to our 8udit of
the fin8ncial st8tements in the UK. including the FRC'S Ethic81 St8ndard. and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is suff icient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we h8ve concluded that the trustees. use of the going concern
basis of accounting in the preparation of the f in8ncial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to
events or conditions that, individually or collectively. may cast significant doubt on the charit8L)le
company s ability to continue as a going concern for a period of at le8St twelve months f rom when
the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report. other than the
financi81 statements an(i our auditor's report thereon. The trustees are responsiL)le for the other
information.
Our opinion on the financial statements (joes not coverthe other information and. except to the extent
otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements. our responsibility is to read the other
information and. in doing so. consider whether the other information is materially inconsistent with
19
THE FUNDING NETWORK

INDEPENDENT AUDITOR'S REPORT
the financial statements. or our knowledge Obtained in the audit or otherwise appears to be materially
misstated. If we identify such materi81 inconsistencies or apparent material misstatements. we are
required to determine whether there is a m8teri81 misst8tement in the fin8ncial st8temernts or a
material misstatement of the other information. If. based on the work we have performed. we
conclude that there is a material misstatement of this other information. we are required to report
that fact. we have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit
the information given in the trustees. report. which inclucles the directors. report prepared for
the purposes of company law. for the financial year for which the financial statements are
preparecl is consistent with the fin8ncial st8tements. and
the directors. report included within the trustees. report h8S been prepared in accorc18nce
with 8pplicable leg81 requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable comp8ny and its environment
Obt8ineo in the course of the audit we have not identified any m8teri81 misst8tements in the
directors. report included within the trustees. report.
we have nothing to report in respect of the following matters in relation to which the companies Act
2006 requires us to report to you if. in our opinion.
adequate accounting records h8ve not been kept. or returns adequate for our audit h8ve not
been received from branches not visited by us. or
the financial st8tementS 8re not in agreement with the accounting recor(is and returns. or
certain disclosures of trustees. remuneration specified by18W are not made. or
we have not received all the information anci explanations we require for our audit.. or
the trustees weFe not entitled to prepare the financi81 statements in accordance with the
small companies regime and take 8dv8nt8ge of the sm811 companies, exemption from the
requirement to prep8re a strategic Report or in preparing the Report of the Directors
Responsibilities of trustees
As explained more fully in the trustees. responsibilities st8tement. the trustees [who are also the
directors of the charitable company for the purposes of company law) are responsible for the
preparation of the f inancial statements and for being satisfied that they give a true and fair view. an(i
for such internal control as the trustees determine is necessary to enable the preparation of f inancial
statements that are free from materi81 misstatement. whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the company s
ability to continue as a going concern. disclosing. as applicable. matters related to going concern and
using the going concern L)asis of accounting unless the trustees either intend to liquidate the
company or to cease operations. or have no realistic alternative t)ut to do so.
Auditor's responsibilities for the audit of the financial statements
Our oL)jectives are to Obtain reasonable assurance 8L)out whether the financial statements as a whole
are free from material misstatement. whether due to fraud or error. and to issue an auditor's report
that includes our opinion. Re8son8L)le assurance is a high level of assurance but is not 8 guarantee
20
THE FUNDING NETWORK

INDEPENDENT AUDITOR'S REPORT
that an audit conducted in accordance with ISAS [UK] will always detect a material misstatement
when it exists. Misstatements Can arise from fraud or error 8nd are considered material if. individually
or in the aggregate. they could re8sonably be expected to influence the economic decisions of users
taken on the basis of these f in8nci81 st8tements.
Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities. outlined above. to detect materi81 misstatements in
respect of irregularities. including fraud. The extent to which our procedures are capable of detecting
irregularities. including f raud is detailed below.
The CharitaLile company is reouired to comply with both company18w and charity law and. based on
our knowledge of its activities. we identified th8t the leg81 requirement to accurately account for
restricted funds was of key significance.
We g8ine(18n understanding of how the charitable comp8ny complied with its legal and regulatory
framework. including the requirement to properly 8ccount for restricted funds. through discussions
with management 8nd 8 review of the documented policies. procedures and controls.
The audit team. which is experienced in the audit of charities. consioered the ch8rit8ble company s
susceptibility to materi81 misstatement and how fraud may occur. Our considerations included the
risk of management override.
Our approach was to check th8t all restricted income was properly icientified and separately
accounted for and to ensure that only valid and appropriate expenditure was ch8rged to restricted
funds. This include(i reviewing journ81 adjustments and unusual tr8ns8Ctions.
A further description of our responsibilities for the audit of the financial statements is Ioc8tecl on the
Financial Reporting council's website 8t. i',PvWNf rc org uk
lauditorsresponsibilii&. This description
forms part of our auditor's reporL
Use of our report
This report is made solely to the charitaL)le company s members. as 8 body. in accordance with
Chapter 3 of Part 16 of the companies Act 2006. Our audit work h8S been undertaken. so that we
might state to the charitable company s members those matters we are required to state to them in
an auditor's report an(i for no other purpose. To the f ullest extent permitted t>y18w. we do not accept
or assume responsibilityto anyone otherthan the charitable company and the charitable company s
members as a body. forour audit work. forthis report or for the opinions we have formed.
Simon Goodridge (senior Statutory Auditor)
For and on L)eh8lf of.
Knox Cropper LLP
Ch8rtered Accountants & st8tutOry Auclitors
65 Leadenhall Street
London EC3A 2AD
Date. 14112123
THE FUNDING NETWORK

STATEMENT OF FINANCIAL ACTIVITIES
INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT
Unrestricted
Funds
2023
Designated
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
Total
Funds
2022
Note
INCOME AND ENDOWMENTS
FROM..
Donations 8nd legacies
Charitable activities
Other trading activities
Investments
TOTAL
86.923
21.914
1.992
340
111,168
104,400
672.693
864,016
21.914
1,992
340
888.261
788.320
22.624
19
810,963
104,400
672.693
EXPENDITURE ON..
Raising Funds
Costs of generating
voluntary income
Charitable activities
UK Events
Charity Training and
Support
Membership Support
TFN Intern8tion&l
Gr8ntm&king
TOTAL EXPENDITURE
50,725
50,725
30.248
82.768
82.768
TI.707
33.687
55,096
33,687
.096
49,600
621.555
893.431
27.882
42,400
Tl,133
509,475
764.845
49.600
570.331
619.931
51.224
273.500
Net incomellexpencliture)
before transfers
Transfer between funds
NET MOVEMENT IN FUNDS
1162,3321
197,7
35.439
104,400
1128,2661
123,8661
52.762
169,5051
116,743)
15.170)
46,118
17
15.170)
46,118
RECONCILIATION OF FUNDS
TOTAL FUNDS AT1 APRIL
2022
119,298
23,866
34.596
IT7,760
131,642
TOTAL FUNDS AT 31 MARCH 2023
154,737
17.853
172.590
IT7.760
All income and expencliture h8s arisen from continuing activities.
Pages 25 to 43 include the Notes to these accounts.
REGISTERED COMPANY NO. 04046959
FOR THE YEAR ENDED 31 MARCH 2023
22
THE FUNDING NETWORK

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Note
NON-CURRENT ASSETS
Int8ngible Fixed Assets
Tangible Fixed Assets
14.640
948
15.588
12
2.955
2.955
CURRENT ASSETS
DeL)tors
cash at L)8nk and in han(i
13
119.489
267.498
52.880
397.311
386.987
450.191
CREDITORS. amounts falling due within
one year
14
[121.585)
[92.530)
Deferred Income
15
[108.400)
[182.856)
NET CURRENT ASSETS
157.002
174.805
NET ASSETS
172.590
177.760
FUNDS
Unrestricted f unds..
Design8ted funds
General fund
16
16
23.866
119.298
143.164
34.596
177.760
154.737
154.737
17.853
172.590
Restricted funds
16
The financial statements have been prepared in accordance with the speci81 provisions in Part15 of
the companies Act 2006 relating to sm811 companies and the Financial Reporting Standarcl102.
Pages 25 to 43 include the Notes to these accounts.
The financial statements were approved and authorised for issue by the Board of Trustees on
11M2123 and signed on their behalf by.
Kawika Solidum
Chair
23
THE FUNDING NEfwoRK
REGISTERED COMPANY NO. 04046959
FOR THE YEAR ENDED 31 MARCH 2023

CASHFLOW STATEMENT
2023
2022
Cash flows from operating activities
Surpiuslideficit) for the fin8nci81 year
Adjustments for..
AmortiS8tion Charge
Depreciation Charge
[1 ncre8seJ/Decrease in debtors
Incre8se/iDecreaseJ in creditors
Investment income
[5.170]
46.118
3.660
3.211
[66.609)
[45.401)
[340)
[110.649)
1.457
[3.862]
90.084
[19)
133.778
cash flows from investing 8Ctivities
Return on investment - interest receivable
Purchase of intangible assets
Purchase of tangible assets
340
[18.300]
[1.204)
[19.164)
19
19
Net increase/i(iecrease] in cash and Cash
equivalents
[129.813]
133.797
cash ana Cash equivalents at l April 2022
397.311
263.514
cash an(i Cash equivalents at 31 M8rch 2023
267.498
397.311
A] components of c8sh and Cash equivalents
Cash at t)ankand in hand
267.498
397.311
B) Analysis of changes in net debt
At1 April
2022 Cashflows
397.311
[129.813)
397.311
[129.813)
Non-cash At 31 March
Changes
2023
267.498
267.498
Cash and Cash Equivalents
cash
REGISTERED COMPANY NO. 04046959
FOR THE YEAR ENDED 31 MARCH 2023
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
1. ACCOUNTING POLICIES
Basis of preparation of financial ststements
The financial statements of the charity. which is 8 puL)Iic benefit entity under FRS102. have L)een
preparecl under the historic81 cost convention They have been prepared in accordance with
8ppIic8ble Unitecl Kingdom accounting standards. the requirements of the statement of
Recommended Practice 'Accounting and Reporting by Charities. [SORP FRS 102 second eclition). in
accordance with the Fin8nci81 ReporLing Standard 8pplicabie in the UK [FRS 102) and the Ch8rities
Act 2011.
The Trustees consider that there are no m8teri81 uncertainties 8tr)out the Trust's ability to continue
as a going concern. In forming this opinion. they have considered the long term impact of the current
economic challenges ancl the context on both its income and expenditure for at least 8 period of
twelve months from the date of approval of these financi81 statements.
Company status
The Funding Network is a company limited by guarantee. In the event of the Charity t)eing wouncl up.
the liability in respect of the guarantee is limited to £1 per member of the Charity.
Fund accounting
Gener81 f unds are unrestricted funds which are 8V8ilabie for use at the discretion of the Trustees in
further8nce of the general objectives of the Charity and which have not been designated for other
purposes.
Design8ted funds comprise unrestricted funds th8t have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financi81 statements.
Restricted f unds are funds which are to be used in accordance with specific restrictions imposed by
donors which h8ve been raised by the Charity for particular purposes. The cost of administering such
funds is charged against the specif ic funcl. The aim and use of each restrictecl fund is set out in the
notes to the fin8nci81 statements. Statutory grants which are given as contributions towards the
Charity s core services are treated 8s unrestricte(i.
Intangible fixed assets and amortisation
Amortisation is provided on all intangible f Ixed assets at rates calculated to write off the cost on a
straight-line basis over their expected economic life as follows.
Rebranding - 5 years
Tangible fixed assets and depreciation
Depreciation is providecl on all tangible fixed assets at rates calculated to write off the cost on 8
str8ight-line b8SiS over their expected economic life as follows..
Office Equipment - 5 years
Computer Equipment - 3 years
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
Incoming resources
All incoming resources are included in the statement of Fin8nci81 Activities when the Charity is legally
entitled to the income and the amount can be quantified with re8son8ble accur8Cy.
Donated facilities are included at the value to the Charity where this can be qu8ntified. and a third
party is L)earing the COSL No amounts are include(i in the financial statements for services donated
by volunteers.
Donated services are included in income at 8 V81u8tion which is an estimate of the financial cost
borne by the donor where such a cost IS qU8ntifiable and measurable. No income is recognised
where there is no financial cost borne by 8 third party.
Income tax recoverable in relation to investment income or Gift Ai(i (ionations is recognised at the
time the relevant income is receivable.
Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense
categories that aggregate all costs for allocation to activities. Support costs. which cannot be directly
attributed to p8rLicu18r 8Ctivities. have been 8PPOrtioned proportionately to the direct staff costs
allocated to the activities. Governance costs include the costs of servicing Trustees. meetings. audit
and Strategic Planning
Irrecoverable VAT is Charged against the category of resources expended for which it Was incurred.
pensions
The comp8ny is part of 8 defined contribution pension scheme. Contributions are charged to the
Statement of Fin8nci81 Activities 8S they become Payable in accordance with the rules of the scheme.
DONATIONS AND LEGACIES
Unrestricted
Funds
2023
Designated
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
Total
Funcis
2022
Pledges an
GiftAid
Grants
Gift in Kin(i
Other
voluntary
income
1.000
103.400
614.836
57.856
615.836
242.256
530.564
256.246
81.000
5.923
5.923
1.510
86.923
104.400
672.693
864.016
788.320
Funds raised through partner events in Albania. Austr81i8. Belgium. columbia, Georgia. Germany.
Hungary. Latvia. M8cedoni8. New zeal8nQ. Peru. Romania. the Romanian Di8spor8. Slovakia and
26
THE FIJNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
Turkey. totalled £1.012.258 Ccompared with £987.206 in 2021122) These events were administered by
partner organis8tions r8ther than TFN so are not directly reflected within the funds raised
represented in these accounts. However. ali partnering events and organisations receive subSt8ntial
ongoing support and guidance from TFN.
Analysis of grant funding
unrestricte
Funds
2023
Designated
Funds
2023
Restricted
Funds
2023
Total
Furn(is
2023
Total
Funds
2022
Frederick Mulder
Foundation
City Bridge Foundation
M8rie-Louise Motesiczky
Charit8ble Trust
Ennismore Foundation
Gates Founcl8tion
Brooks Foundation
Charles Stewart Mott
Foundation
T&J Meyer Family
Foundation
EQ Found8tion
I Paul Getty Jnr Charitable
Trust
others. including private
donations
30.500
30.500
55.000
38.500
55.000
25.000
25.000
50.000
37.500
45.000
37.500
3.641
10.000
37.500
10.000
10.000
32.856
32.856
33.555
20.000
10.000
10.000
5,000
5,000
5,000
1.000
81.000
10.900
103.400
11.900
242.256
63.050
256.246
57.856
2. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
2023
Designated
Funcis
2023
Restricted
Funcis
2023
Total
Funds
2023
Total
Funcis
2022
Membership fees
Attendance fees
21.784
130
21.914
21.784
130
21.914
22.624
22.624
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
3. INCOME FROM OTHER TRADING ACTIVITIES
Unrestricte
Funds
2023
Designate(i
Funds
2023
Restricte(i
Funds
2023
Total
Funds
2023
Tot81
Funds
2022
Sponsorships
1.992
1.992
1.992
1.992
4. INVESTMENT INCOME
Unrestricted
Funds
2023
Designated
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
Total
Funds
2022
Interest receivable
Bank Interest
340
340
340
340
19
19
5. RESOURCES EXPENDED
Grant
Funding
of
Activities
staff
costs
(Note 9]
other
Direct
costs
Support
costs
Total
2023
Raising Funds
Costs of generating voluntary
income
32.652
1.872
16.201
50.725
Charitable Activities
UK Events
CharityTraining and
Support
Membership Support
TFM I nternation81
Grantm8king
Total charitable expenditure
39.267
14.319
29.182
82.768
20.490
31.261
26.790
30.732
148.540
13.197
21.994
6.222
20.492
91.087
33.687
55.096
49,600
621.555
842.706
1.841
16.588
8.827
41.575
561,504
561,504
Total Expenditure
561,504
181.192
43.447
107.288
893.431
28
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
Resources expended include..
2023
2022
Amortisation
Depreciation
Auditor's remuneration
3.660
3.211
5.720
1.457
4.950
Details of staff costs are given in Note 9.
Det8i1s of Support costs are given in Mote 8.
RESOURCES EXPENDED - COMPARATIVE
Grant
Funding
of
Activities
staff
Costs other Direct
(Note 9]
Costs
Support
costs
Total
2022
Raising Funds
costs of generating voluntary
income
15.334
3.21
11.669
30.248
Ch8rit8ble Activities
UK Events
Charity Training and Support
Membership Support
TFN International
Grantmaking
Total ch8ritatr)le expenditure
38.210
4.545
17.757
65.423
9.961
135.896
4.493
35.004
23.337
23.335
11.669
11.668
105.013
77.707
27.882
42400
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
6. GRANTS PAYABLE
2023
2022
Grants payable at the start of the year (note12)
Grants payable at the year end [note121
Adjustment for accounting error
Grants paid during the year.
[68.399J
110.822
[3,667)
[86.4601
68.399
29
THE FIJNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
Flagship
Access Social Care
Artis Foundation
B8th City Football Club Foundation
Bloody Good Period
Catching Lives
Children Heard and Seen
Children with Voices
Climate Emergency UK
Clowns Without Borders UK
Cornerstone
CRIBS International
Farmers Overseas Action Group
Feedback
Five T81ents
Frazzled Café
Gallow's Close
Get Rid of and Donate
Getting into Tech
Greater Change
Hackney Laces
Katherine Low Settlement
Key4Life
Maymessy
My Life Films
Omnibus Theatre
Only a Pavement Away
Opera Circus
Parallel Histories
Proveg UK
Solar Links
Stockton Hope
Stormbreak
Sumatran Orangutan Society
Suvita
The Restart Project
The Streetlife Trust
The Visionaries
Vulcan Learning Centre
Wheatley Hill Community Association
2.667
20.737
2,428
543
9.890
15,390
28,914
578
13.326
20.684
1.612
601
9.540
16.104
T6
11,811
20.868
9.030
1.499
25,665
7.400
14.607
17,810
19.536
11,192
12.307
10.003
173
22.009
347
11,690
9.251
340
21.957
16,558
1.500
13.473
578
18.583
11.278
22.159
10.028
14.195
7.460
260.286
1,591
228,342
30
THE FIJNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
Strategic Funding Group
A Partner In Education
Book Clubs in Schools
C8Xton Youth
Children Heard and Seen
Children of the Mountain
Daniel Spargo Mabbs Foundation
Five Talents
Foundervine
Human Milk Foundation
Lightyear Foundation
Migration Museum
ObliqLJe Arts
University Education
Unchecked
Vulcan Learning Centre
24,223
3.049
17,864
28,583
1.442
16.274
19.228
1,748
24,998
17,309
17,378
11.557
20.466
18.535
111,486
111.188
Partnership Events
Black Funding Network
Alfred Fagon Award
Aspire2inspire Dyslexia CIC
Five Aside Theatre
Make a Difference at Sandies
Mindwalk Yoga
Urban MBA
6.990
6,492
5.664
6,554
6.167
5.857
17,788
20.036
Early stage funding delivered via Crowdbacker with
Year Here
AimHire
Bua
Climate Minded
Dream Green
Heartstiings
lust Once
Kala
Living Proof
Mosaic
Nudos
Scoobi
Soda
Spedal
978
5.835
2,701
730
5.449
5.930
6,730
906
4.250
3.638
4.424
4.657
944
28.173
7,307
26.306
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
EFN Live in partnership with the Environmental
Funders Nelwork
Poverty and Environment Trust
Sustainable soils
The Orcharcl Project
21.102
22.038
19.281
62.4
City for LGBT+ in partnership with GiveOuL
Macquarie and Consortium
Consortium+
Helem
I raoueer
Loving Me
PASSOP
Rainbow Migration
8.125
18.167
20.726
19.513
9.706
11.335
29.166
58.406
Regional
TFM Hertfordshire
Daylight Club
Young People's Puppet Theatre
Youth T81k
3.917
5.189
6.364
15.470
TFN Oxford
Ark T Centre
Be Free Young carers
Flo's. The Place in the Park
231
5.460
5.785
5.824
17.069
231
32
THE FUNDING NETWORK











































































NOTES TO THE FINANCIAL STATEMENTS
7. SUPPORT COSTS
Cost of
Generating
Voluntary
Income
Charity
Training
and
Support
UK
Events
Memt)ership
Support
TFN
International
Total
2023
Grantmaking
Staff Costs [Note 9]
Rent and Rates
Travelling Expenses
Printing & Stationary
Telephone & computer
Bank Charges
Depreciation
Other Staff Costs
Professional & Consult8ncy
Costs
other Support costs
Total Support costs
7.906
2.241
326
24
1.5T
234
1.037
99
14.241
4.038
587
44
6.440
1.826
265
20
1.279
190
846
80
10.733
3.043
442
33
2.132
317
1.409
134
3.036
861
125
10.000
2.835
412
31
1.987
396
1.313
125
52.356
14.844
2.157
161
10.402
1.548
6.871
653
2.829
421
1.867
178
603
90
399
38
2.565
198
16.201
4.620
357
29.182
2.089
162
13.197
3.482
269
21.994
985
76
6.222
3.244
251
20.492
16.984
1.313
107.288
Governance costs of £6.692 (2022. £5.336) are includecl.
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
SUPPORT COSTS - COMPARATIVE
Cost of
Generating
Voluntary
Income
Charity
Training
and
Support
UK
Events
Membership
Support
TFN
I ntern8tion81
Total
2022
Grantmaking
Staff Costs [Note 9]
Rent and Rates
Travelling Expenses
Printing & Station8ry
Telephone & Computer
Bank Charges
Depreciation
Other Staff Costs
Profession81 & consultancy
costs
other Support costs
Total Support costs
2.779
2.072
220
51
731
303
146
240
8.336
6.216
661
152
2.193
910
437
719
5.557
4.144
442
101
1.463
607
291
479
5.557
4.144
441
2.779
2.072
220
51
731
303
146
240
2.779
2.072
220
51
731
302
146
240
27.787
20.720
2.204
506
7.311
3.032
1.457
2.396
100
1.462
607
291
478
5.092
35
15.275
105
10.183
70
10.183
70
5.092
35
5.092
35
50.917
350
11.669
35.004
23.337
23.335
11.669
11,668
116.682
35
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
8. STAFF NUMBERS AND COSTS
Total
2023
Total
2022
Wages and Salaries
SOCi81 security costs
Pension costs
207.882
19.020
6.647
233.548
161.885
11.756
5.376
179.017
comprised of.
Staff Costs directly attributable to Charitable Activities (Note 6]
Staff Costs relating to Support function (Note 8]
181.192
52.356
233.548
151.230
27.787
179.017
The average weekly number of employees during the period was..
Number
Number
Employees
4.75
4.00
One employee received remuneration of more th8n £60.000 in the band £80.000-90.000 (2022. one
employee in the band £70.000-80.000). This figure inclucles gross salary 8nd employers M8tion81
Insur8nce contributions.
During the year. key management. comprising the CEO an(i Impact Manager. received remuneration
of £135.620 [2022.. £118.909)
9. TRUSTEES REMUNERATION AND BENEFITS
During the year. no members of the Board ofTrustees received any remuneration [2022. £nil).
No memL)ers of the Board of Trustees receivecl reimbursement of expenses (2022. £nil).
36
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
INTANGIBLE FIXED ASSETS
Total
2023
Rebrancling
cost
AS 8t1$1 April 2022
Additions
AS at 31st March 2023
18.300
18.300
18.300
18.300
Amortisation
AS at ISI April 2022
Charge in the Ye8r
As at 31st March 2023
3.660
3.660
3.660
3.660
NBV as at 31st March 2023
NBV as at 31st M8rch 2022
14.640
14.640
The expenditure on Rebranding in the year c8Pltalised as I nt8ngible fixed assets included redesigning
the logo and other marketing tools.
10. TANGIBLE FIXED ASSETS
Office 8nd
computer
Equipment
Total
2023
cost
As at1$1 April 2022
Additions
As at 31st March 2023
7.286
1.204
8.490
7.286
1.204
8.490
Depreciation
AS 8t1$1 April 2022
Charge in the Year
AS at 31st March 2023
4.331
3.211
7.542
4.331
3.211
7.542
NBV as at 31st March 2023
948
948
NBV as at 31st M8rch 2022
2.955
2.955
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
11. DEBTORS
2023
2022
Due within one year
Other debtors
Prepayments and Accrued Income
64.489
55.000
119.489
52.880
52.880
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Trade Creditors
Grant commitments
social security and Other taxes
Accruals
983
110.822
[346)
10.127
121.585
2.992
68.399
1.903
19.236
92.530
13. DEFERRED INCOME
2023
2022
Deferred income
108.400
108.400
182.856
182.856
Deferred income
Balance at1 April 2022
Amount released in ye8r
Amount deferred in the year
Balance at 31 March 2023
182.856
[82.856)
8.400
108.400
78.555
[78.555]
182.856
182.856
38
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
14. STATEMENT OF FUNDS
Transfers &
investment
g8ins/iiossesJ
Brought
Forward
Incoming
Resources
Resources
Expended
carried
Forw8r(i
DESIGNATED FUNDS
Swan Appeal
Office Costs
23.371
495
23.866
96.900
7.500
104.400
C120.271J
[7.995]
[128.266]
RESTRICTED FUNDS
Grant-making
TFM Internation81
614.836
57.856
672.693
C570.331]
[49.513]
[619.844)
C44.505]
[25.000]
[69.505)
34.596
34.596
17.940
17.940
SUMMARY OF FUNDS
Designated Fun(is
General Fun(is
23.866
119.298
143.164
34.596
177.760
104.400
111.168
215.568
672.693
888.261
[128.266]
197.7
69.505
[69.505)
[273.500)
[272.076)
[619.931)
[893.431)
154.737
154.737
17853
172.590
Restricted Funds
The Swan Appe81 designated fund represent monies raised by speci818ppe81 during 2021122 to cover
core costs over 3 years. This funcl is being allocated across each year L)8sed on the spending Plan for
that period. The Office costs designated fund represents amounts donated in order to offset the
increased office costs from the move into rented office space in 2019120.
Money raised 8t UK Events by The Funding Network is for specific non-profits. These f unds are treated
as restricteci and have been paid to the respective non-profits less a levy of on average 7.5°A to cover
overheads. The levy is treated as a transfer t)etvEen funds Csee below] Restricted grants have also
been received during the year to fund the (ievelopment of TFN activities in overseas countries tTFN
I nternationalj.
39
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
COMPARATIVE STATEMENT OF FUNDS
Transfers &
investment
g8ins/iiossesJ
Brought
Forw8r(i
Incoming
Resources
Resources
Expende(i
carried
Forw8r(i
DESIGNATED FUNDS
Swan Appeal
Office Costs
Digit81 Transformation
134.050
15.000
20.000
169.050
C110.679)
[14,505]
[20.OOOJ
[145.184)
23.371
495
23.866
RESTRICTED FUNDS
Grant-making
TFN International
530.564
78.555
604.064
[487846)
[77.132)
[564.978]
[42.X8J
33.173
33.173
34.596
34.596
[42.Tr8]
SUMMARY OF FUNDS
Designated Fun(is
Gener81 Funds
169.050
32.794
201,844
609.119
810.963
[145.184]
187.902
42.T8
[42.Tr8]
23.866
119.298
143.164
34.596
177.760
98.469
98.469
33.173
131.642
[199.867)
[199.867)
[564.978]
c764.81￿)
Restricted Funds
15. TRANSFERS
Restricte(i
Funds
2023
Designated
Funds
2023
Unrestricte
Funds
2023
Transfer in the year comprises..
Release of Swan Appeal
Transfer to cover off ice rent81 costs
Levy Charged
[120.271)
[7.995]
120.271
7.995
44.505
[44.505]
40
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
COMPARATIVE TRANSFERS
Restricte(i
Funds
2022
Designated
Funds
2022
Unrestricte
Funds
2022
Transfer in the year comprises..
First year of Swan Appe81 Released
Transfer to cover off ice rental costs
Transfer to cover the cost of digital
tr8nsformation
Levy Charged
[110.679)
[14,505]
110.679
14.505
[20.000]
20.000
42.Th8
[42.Tr8]
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Designated
Funds
General
Funds
Restricte(i
Funds
Total
Funds
Fixed Assets
Debtors
Bank
Cre(iitors due within one year
Deferred Income
15.588
55.270
103.042
[10.763]
[8.400)
154.737
15.588
119.489
267.498
[121.585)
[108.400)
172.590
64.219
164.456
[110.822]
[100.000]
17.853
COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS
Designate(i
Funds
General
Funds
Restricte(i
Funds
Total
Funds
Fixed Assets
Debtors
Bank
Creditors due within one year
Deferred Income
2.955
12.075
111.459
[7.191)
2.955
52.880
397.310
[92.530)
[182.856)
177.760
40.805
285.851
[68.399)
[182.856]
34.596
C16.940)
23.866
119.298
41
THE FUNDING NETWORK

NOTES TO THE FINANCIAL STATEMENTS
17. PENSION COMMITMENTS
Part of the salary of the staff members is paid in the form of contriL)utions to 8 defined contribution
pension scheme. The assets of the scheme are held separately from those of the company in an
independently administered fund. An 8Uto-enrolment workplace pension scheme is now also in
operation. The pension cost charge represents tot81 contriL)utions payable by the charity to both funds
anci amounted to £6.647 [2022. £5.376)
18. RELATED PARTY TRANSACTIONS
During the year. donations tot811ing £32.560 [2022. £21.275) were received by the organisation from
Trustees.TFM Trustees are able to nominate or help select non-profits. never at the same time. Any
potential conf licts of interest by 8 B08rd member would be raised before a selection panel meeting.
in the same manner 8 TFN member would declare any conflicts of interest th8t m8y be relevant to
the org8nis8tions being considered.
42
THE FUNDING NEfwoRK

NOTES TO THE FINANCIAL STATEMENTS
19. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITY
unrestricte
Funds
2022
Designated
Funds
2022
Restricte(i
Funds
2022
Total
Funds
2022
INCOME AND ENDOWMENTS FROM..
Donations and legacies
Charitable activities
other tracling activities
Investments
TOTAL
10.151
22.624
169.050
609.119
788.320
22.624
19
32.794
19
810.963
169.050
609.119
EXPENDITURE ON:
Raising Funds
costs of generating
volunt8ry income
Charitable activities
UK Events
Charity Training and Support
Membership Support
TFN International
Grantmaking
TOTAL EXPENDITURE
30.248
30.248
77.707
27.882
42.400
77.707
27.882
42.400
77.133
509.475
764.845
77.133
487.845
564.978
21.630
199.867
Net income/lexpenditure] before
transfers
Transfer between funds
MOVEMENT IN FUNDS
C167.073)
187.902
20.829
169.050
C145.184J
23.866
42.141
[42.718]
1.423
46.118
46.118
RECONCILIATION OF FUNDS
TOTAL FUNDS AT1 APRIL 2022
98.469
33.173
131.642
TOTAL FUNDS AT 31 MARCH 2023
119.298
23.866
34.596
177.760
THE FUNDING NEfwoRK

THANK YOU
We recognise with the deepest gratitude the
contribution made to our work by our individual
and corporate members. donors to the 2021
Swan Appeal. and institutional funders.
CORPORATE
HOSTS
Janus Henderson
MACQUARIE
INVESTORS
LlIi£henn de Re)a
octopus
PIOTON
Abn9hLer way
Rathbone
Greenbank
Investments
T.Rowel*ice '
FUNDERS
BROOKS
F,NNISII()RF,
FOUNDATION
FOLK'DATION
Frederick
Mulder
Foundation
THE
GREEN QOOM
I PAULGETTYINR
CHARITABLE TKUST
-eo f￿￿15t￿)n
Merriman
Charitoble FouDdation
ARITABLETrusr
Motesiczky
PARTNERS
i Black
Fundlng
En￿rOnmental
FundetsNelwork
CONSORTIUM
YEAR
) Giveout
MACQUARIE
HERE
THE
FUNDING
NETWORK
CREATIVE IDENTITY - HEAT DESIGN
ANNUAL REPORT- DESIGNED IN-HOUSE
EVENT PHOTOGRAPHS - DANIEL LEWIS AND ANDY LANE