REGISTERED COMPANY NUMBER: 03625777 (England and Wale8) REGISTERED CHARITY NUMBER: 1089157 REPORT OF THE TRUSTEFS AND UNAUDITED FINANCIAL STATEME FOR THB YEAR ENDED 30 SEPTEMBER 2022 FOR PHIL￿￿HRoPy IMPACT Orcom Civyab Limitsd Accountants 50 Seymour street London WIH 7JG PHILANTHROPY IMPACT cowrENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Page Report of the Tru8te•8 I to 9 Independent Examlner's Report io St&tement of Financial Actlvitle8 li Balance Sheet 12 to 13 Notes to the Financial Statements 14 to 19 Detailed statett￿nt of Flnaneial ACti￿tieS 20 to 21 PHIIANTHROPY IMPACT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEIYEMBER 2022 The trustee5 who are a180 direLtors of the charity for the purposes of th8 Companies Act 2006, PT88ent their report with the financial statem8nts of the charity for the year ended 30 September 2022. The truste88 have adoptsd th8 provi8ion8 of Accounting and Rew>rting by Charlties.. Statement of R￿0￿mended Practice applicable th charities preparing their aceounts in aceordan¢e with the kncial R8POrting Standard applicable in the UK and Repub]ic of Ireland IFRS 102) (effective i J&nuary 2019). Page I pHIIAl￿rHRoPy IMPACT REPORT OF THE TRUSTEK8 FOR THE YEAR ENDED 30 SEPTEMBER 2022 OBJECTIVES AND ACTIVITIES In 2023, Philanthrgpy Impact 18 ￿ebratIllE Its 25 Anniversary. We will be taking a l(vk at how thmgs have changed since 1998 such a8 tILe 18un¢h of DAF8, the development of Social investment funas. the grovrth of impact inve8ting, the size and impact of the ch￿]￿ble and social enteryTise marke( and change8 Rn Philanthropy ImpacL Philantljropy Impac¢ 18 a c&pacity building non.profit organisation operating across the spectrutn of pb1lant]￿*py, soeial inves¢roent, ESG o￿a impact iKive5tment. Our DllSsion is to inerea8e the flow of capit81 for good. We achieve tbi8 by bt2ilding ¢he will and eapacAty of profe85ional advisor8 (private elient advisors, W￿1th management, private banking, tax and legal sectors> t(J support their IU)HNW private clients on their philant]￿1piC and social impact investment journey. OUT means for realising our vision includes thought.leadership And sharing intelligerTh. events. CPD Certified CISI endorsed training, bespoke networking opportunities. earnpaignll￿. publicAtions including a magazine, and Tesources for advi￿r8 And otlw stakeholders. We give courage, confidence. And oPp￿UnIty. Our 8tAkeholders also include philanthropigtB. impact inv&8tOTS, trusts and foundations. chaTitie8 gnd 80cial enterprise8. The three Rs for partnering with PhilantI￿opY Impact are.. Reach New Clients Working with Pl dernonstrtttes a firllll'8 commitment to meeting the new generFAtion of c]ients ]￿king to add purpose into their wealth BtrFAtegie8, and to eontinued profeB8ional development of advisors iti this 8pace. Retain Clients Working with PI eDable8 your te8m to impllbve th¢iY customer 8ilPPOrt experience 8nd their clients understanding around the impact of their wealth., le&ding to 8trongeT And deeper dient Trlation81)ip8. Reputation Working with PT demonstrates a rinn's commitment to 8U8tsinable practi￿, and that of a firn1 78 dedicated to matrhing their clients, values, goal8. ambition8 foT their weslt As a knowledge hub and celltre of eX(xllell￿, we orgaDi88 events and offer S￿l8]i8t knowledge traillillgj Yolunt8ry 8t8udardo 8nd Bector and government liai80n. We are.. the leading Centre of Excellence at the inteT8ection between philanthTOPyi 80cial investnien( ESG and impact investment in UK and EuTOPe. not-for-profit member8bip orgAnièatitin with 25 y8ars' èxperiéncè the 'go to, organisAtion for professional &dvi80r8 to priF&te clients and other or¥8tiiBationB that 8UPPOrt IU)HNWI, for all thèir qu86tions and to learn how to understand impact. a Bervwe prowder of technical knowledge and effective learning journeys for profe88ional advisor8 8nd charitie8 that want to learn how to meet (U)HNwf8 rapidly emer￿ng need for good d ele8r pbi18nthropy 8nd social In)￿et inv08tment advice. network of over 11,000 Private Client AdvisorB from le&ding Private Bank8. Wealth Management Firm8, TAX FArms. Legal Firm8 alld other FiJwlci￿ Advi80ry firmB, a8 well a8, Philanthropist, ￿￿19] Inve8tors, S￿1￿1 EntrepIeneuTB. thought leader8 from the third Beets>r and other high.profile membe r8 of the philanthropy and Bocial itupact investment &pace. a community of member8 that are all committed to itUPToving the 6tandgJd of advice given to elients on how to use their capital for good right acr088 the investment 8pvL*rum. route to ll￿rkeL provider know-how, reports and ￿￿lySIS on philanthropy and ￿181 investrnenL a $uptM)Yter of the developmejit of philantbropic and social investment prACtice8. advocates for policies tr> promots support phi19￿thrOpY And incre&8ed giving and more impact investment. Page 2 PHILAforHROPY IMPACT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEIYEMBER 2022 Con￿118510ned re8earch, for example, to identify key changes in the WAY new generations of wealth holders &re approaching swtainabi]ity and impact and ts) put forward recommendations for Profe￿0￿￿1 &d￿80r6 on how tbey 8hould adapt their Service offering8 to meet the changing need 8nd eXI￿lI0n$ of Chèir exi8ting and future c]ient8. As giving by the wcalthy incTe&8e8, Philanthropy Impaet eontinues to pur8ue its primary charitable objcctiveB, working with profes￿0￿￿1 &dvisorB, philanthropist #nd 8¢xial impart inve8tors, to achieve greAteY $ertor knowledge and expertise. The charity £{￿usseS tsn the dimajnic relationship between philanthropists, 8(Ki81 imp&ct inv8Stor6, their advi80r6, and Lbarities. For example: We r￿e]yea the CPD Certified and CISI Endorsemellt for our "Changing Times Supporting Clients on their Philantbropic and &)¢ial Investment Journey" traiDing cour8e for profe8sional advisor8. We launched a CPD Certified and CISI endorsed sustainabi]ity training eour8e in collaEA)ration with PIMFA (Personal Investment Management & Financial Advice As$￿1￿￿0n) and others, to help wealth advisors to meet the needs of th8 new generation tsf elients And the trend tOWaTd8 and impact investment. This has a particular £(￿5 on congumer understanding under eonsumer duty. We have Completed a buS￿e88 plan for the development of a Directory of re80vre¢s for professiongl &d￿sOr&, phiRanthropi8t8 aThd others; the launch ofthe expected in 2023. We gtre now updating the 'Giving N2￿gatOr, as an on]ine t(K>l to help new and exi8ting philanthyopists begin to understand what their priorities for their donor journey might be, a8 we.11 as providing exaniples of other philanthropists and addition re80UTee8 and reading We publish a quarterly journal ealled "Philanthropy Impart Magazine." The aim of the journal 18 to profile and share reSe&re￿ learning, information and thought leadersbip in a dornestic and international context, achieving growth in intere8t le&ding ts) inetease from 8 article8 in a typical edition t4) 23, 42, 37 and 26 article8 for the la8t four magazine8 re8peetively. We have returned to faee to face events. Our online Walk in my Shoeg gerie8 continue8 to attr8rt both gr￿t discu86ion and audien￿. We have now hosted over 80 epi80de8 covering QPPOTtuni8Lic, thought provoking and strategic topie$. We eontinue to engage with Governtnent for the pubjic benefit on m&tters that inlluenee philanthropy and Eocial &nd impact investing. With ]iwited 8tatY re80urceo and a68iotsd by volunteer 8UPPOrt we continued our work related to growing philant1￿OpY and itnpact investing vrith & foeu8 on inereasing giving and sustait]able investing tl]Yough the development and di88eminatign of ￿8t PTaetieè and knowledge in relation to philanthropy and soci81 impact inve8tment directed at prnf885￿nal adw50rs. The approach retleets Philanthropy Impact'8 reseaTch finding8 that.. Philanthropy Impact re8earch in 2022 demonstrated o Wealth holdeTS, particularly younger geneTations {GEN Z, Millennia18). are in¢rea8ittgly eking to align their wealth with their values. They expect adw80r$ to provide professional 8UPWrt in numerous. increasingly complex areag relat*d to re8pon8ible hnveBting And philanthrnpy. The profes8ional advisory industry is falling short of the expectations of omerging wealth holders. There are warning8 tha¢ the ongoing wealth tran8fer could be a(￿0￿panied by the next genetation chan￿llg adiritsors on mas8e. The Study highlighted the rea80no ob8t8ele8 tt) 8dvisot8 meeting the needs 0£ tbe young wealth holder6 and 8olution8 Page 3 ``` PHILANTHROPY IMPACT ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022`** |`o`
`Individuals who take professional advice relating to their philanthropy give 17 times more on`
`average.`|`o`
`Individuals who take professional advice relating to their philanthropy give 17 times more on`
`average.`| |---|---| |`o`
`Yet, wealthy individuals currently rate the quality of advice they receive from professional`
`advisors at 5.9 out of 10.`|| |`o`
`Recent Beacon Collaborative HNW Research findings include:`|| |`o`
`67% said they would be likely or very likely to consult a professional advisor if they were`
`making a major gift.`|| |`o`
`3% of respondents said that professional advice would be the top factor influencing them to`
`give a sizeable financial gift.`|| |`o`
`This demand is particularly strong among donors in the under 40 age group.`|| |`o`
`Fidelity Charitable Research demonstrated firms that offer charitable planning to their clients`
`had:`|| |`o`
`6X the median assets of those who do not offer charitable planning`|| |`o`
`3X organic growth`|| |`o`
`1.3X new money; as well`|| |`o`
`higher net promoter scores,`|`higher trust levels`| |`o`
`Investing for Global Good A Power for Good 2022 (Camden Wealth Limited) research indicated`
`for older generations there is a growing demand for and satisfaction in impact investing and that`
`investors are seeking better services from wealth advisors.`
`More than half indicated that`
`sustainable investing is bridging the gap between younger and older generations, and almost 70%`
`reported sustainable investing is being embraced by the generation in charge of the family's`
`wealth.`|| ``` ThesefindingsprovideanupdateonmarketresearchPhilanthropyImpactundertookin2016 and suggestthatdoublethenumberofprivateclientsarenowseekingprofessionaladvicein connection with their giving. ``` ## **`OVERVIEW OF 2021/22`** ``` Overthepast12months,PhilanthropyImpacthasachievedagreatdeal.Thefollowingoutlines our achievements: ``` ``` Enhancedourtraining: theCPDcertificationandCISIEndorsementtrainingprogrammeshave been updatedforouradvisortrainingprogrammeforprofessionaladvisorsinsupportoftheir client's philanthropicjourneyandforwealthmanagementadvisorsrelatedtodiscussingwithclients their values, motivations, ambitions and goals - capturing their impact and ESG preferences ``` ``` Advocacyandcampaigning:wehaveenhancedouradvocacyeffortstoensurethevoiceof advisory firmsandtheirprivateclientsareheardamongpolicymakersandingovernment.OurPublic Affairs provides support to a nu mber of other charities. ``` ``` Centreofexcellence:wehaveeffectivelypositionedPhilanthropyImpactasamember organisation that acts as a centr e of excellence for philanthropy, social and impact investment advice. ``` ``` Contentmanagement:wehavedeliveredhighqualitytechnicalandtopicalreportstoactive members through our contac t list. ``` ``` Market awareness : we have increased awareness of Philanthropy Impact with our key stakeholders. ``` ## **`Key achievements over the past 12 months`** - `Ran an effective series of virtual "Walk in my shoes" events attracting around 20-30 participants per session with an additional 100-150 streaming hits per session.` ``` Page 4 ``` PHILANTHROPY IMPA( REPORT OF THE TRUSTEES FOR THE YEAR EI4DED 30 SEFfEMBER 2022 Achieved final￿ Bupport ftOllL City Bridge Trumt {the funding arm of The City of London Corytsration's eharity, Bridge Hou8e E8tAtes) through Beaeon C<*llaborative and with mateh fimding from the Goldets Bottle TTUSt for the illLplementation of a Directory of Resources. web.baged dIr￿tOry of 8UPPOrt foT prnEe88iOnAI 8dvi80f8 And philanthropÉst8 in their impact journeyB. Supported tlkg All Party P8rIian￿ntsry Group (APPG) foT Philantbropy and S(*ial Investment led by Ru8hanara Ali, MP and 8UPPOrted by cr088-bench MPS and Peèr8 ill We8tminster. CAllLp&igtied amund tax re]ief8, ChaTit8ble Remainaer Gift8, SITIL ts8ponsible investment ruleB for tru8ts and foundations, ana on extsnding client 8uitsbility r¢quirements to eneompaÈ$ Bu8tainabi]ity and Esa inv88tments. PublislLed the qu8rterly jguroal c8lled"PhilatkthTOPy ]mpac¢ MagAZitie." OUTLOOK FOR 2028 Our reach grow8 cimtinually and we go into 2028 with a positive outlwk We will continue our virtual thought leadership Walk in my Sh¢xs event as a nwnthly event httpsJlwww.youtube.comlresults?search querrphilanthropy+impact We are Jnoving to the next pha8e of our Ambassador Programme, working with millenDioI and GEN Z phil8nthropist8 and in}p￿t investors on how to mvet their needs as dients. We will be shortly launchin¥ our Rising St&rs progrg4mme, which fwuges on the new generation of profe88u)nal advisoLY that will be able ts meet the need8 of ch'entg. In 21Y23 we will be launching an online Direotory of Serviees that will £￿u8 on ]isting profes8ionaE advi8or8 a]Jd other adviBory 8ervice8 working in the phllantk￿py, wial investment And impacU&gG investment space. Our next magazine will be publi8hed in the autumn and a call for p&pers ha8 beeTA 8ent out for the topic: The Life Cyele 0£ a Private Client . Maintaining and Enhancing Purwse Through Philanthropi¢ and ESG/lmpact tnve8¢ing During a Time of HiglL Intlation and Stre$8ful Frtono)Jii¢ Time8. This will be followed by a magazine themed on Investing foT Good.. Tru8t In PhilRnthTQPy And Impact tnve8ting To Achieve Impact We are ryow updating the 'aiving Navigator" a8 an on]ine tool to help new and exi8ting philanthropists begin to understand what their prioritke8 for their donoT journey might b8, a8 well a8 providi￿ exatDples 0£ other phiianthrnpists and addition re8oun88 and reading. Add IiEth to the old n4vAgator) Our rese￿ into donor adviBed fwids (DAF8) in the UK will be published online in 2023. Our 8elf-certified CPD virtU81 events progrwnme will continue eFach month on practical i88ue8 f8cing professional advi80rs and their dients. Our Public Affairs committee continu88 to 8UPPOrt our campaigning on i68ues related to tax Teliefs in the UK Following last year's digital audkt our Linkedln Profile is growing rApidly as we cxjntinue to use thi8 plarform to share articles and re8eareh from the global sectr)r. Our Training ProÈTamme will pro￿de cross-sector and in-house CPD Certified workshop8 tr1 develop the skills of advisors WOTking with (U)HNWI. Continue ouy brand building - our new logo was reeently Yever41ed and a new website will launeh this year to 6UPPOrt our activitie8. We will be reeruiting for our in-country committees in Europe and developing a new mandats for collaboration working created with current committee member8. We are Collaborating with change.maker8 Future Pla2)et on their events arowid e]im8te oh8nge. To en8ure we are meeting the negds of our Member8hip Community we will be Sending out a 8urvey. Page 5 PHILANTHROPY IMPA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 80 SEIYEMBER 2022 Illvestn￿nt powers and policy Available cash re8erves are currently Tetsined in the elwit￿8 bank aceount. We are r￿l*WIllg tbis sition a8 high-qudity B￿la1 impact inve8tment8 may well be a more effective way of $upportAtig out worL Re8erve8 poIi¢y In pre￿ou8 ye&rB, Phil&nthTQPy Impact ha8 Btated intèntion to build unrestricted fund8 that can be hdd in reserve to ci)ver 8ix month8 of fixed overhead8. However. the Trustees are that &ccountiDg Te8eTves. i.e. uzlrestricted fundB. vvry limited. The chatitvs operatang model 16 to secure significant resour¢￿ in advance of need thTough n]embership Bub8erAptions. we feel thi8 mitigalE8 the need for holding 8ignifieant accounting Te8erve8. The deferred member6hip subseription8 at 30 September 2022 were £30.843 {2021: £19,238). Thi8 balatkce 18 available to the c*)8ts of the orgaDiBation for approxirn4tely 6 month8. Ivhile the successfid implejnentation of the growth And busine88 BtrAtegry will lead to a more tsu8tainable financial base, the Trustee$ will c&LEfully morritor the situation and devèlop a risk-based re6ètvèB policy that is appropriate for the new oper8ting modeL At 30 September 2022, the Trutste￿ wettr satisfied having considered oper&ting budgets and illLY>llLe Becured including balallces canied fotWArd, that the charity could continue to meet its ]iabilities a8 they fall due attd have prepared the account$ on a going ¢onLYrn ba8iS. Current year developments In the current financial year tstal ineome was £305,756, of which £19,010 {6.2tyA) was generated by trading income and the balanee through donatioD$ from a varlety of benefactors includ]ng the Trustee6, and eontiibution$ from ￿$ts and Foundations. Our expen6e$ for the year totalled £307,667 reBulting in a nominal deficit of £1,780. The Board ha$ resryewed the financial position each qu￿eT and considers that, not￿thStanding the current leve] oe fmancial reserves, given Projected future income and expenditure 18V8ls the orgskusation is able to opernte as g going corLC8rrL Rlsk nw)agement As with any organi5ation, Philanthropy Impart faces a number of risk$ and at regular Trustee me8tAngs the risk register is reviewed. The eore risk$ are insuffieient financial incon)e and revenues to support the organisation's programmes and activitie$ as well a$ the inabi]ity to attrAct members - all of which would result in financial rwa8rv88 being depletsd. To nlltigate thes8 risks the organi8ation is WZLStantly working on improving the ¥tandaYd quality of its pn)gramrn&8, promoting strong8r engagement with members and en8￿1n¥ a diverse funding base that indudes trading income. In£orn￿tiOn is Shared with m8mb8r8 regularly and membeTE' are 8¢)ught one-tts￿ne meeting8 with the Chief Exeeutive and Trustees, as well as sutvey8 rnonitoring the quality of the oYganisation'8 PTogramrneB and acti￿tieS. Small organi8ation8 are alwayts Susceptible t4) staff changes and Philanthropy Imp8rt ha8 developed 8yStem6 and ytrlicie8 to oupport the con8iSteney of the organisatioD'8 8rtivitie5. FundrAi8ing 18 81 condueted to ensure tbe organisation ha8 sufficient fiDAncial re8ource8 to supplement our tr&ding income. Page 6 PHILAFVTHROPY IMPACT REPORT OF THE TRUSTEES FOR THE Y&IR Ef4DED 30 SEPTEMBER 2022 STRUCTURE, GOVERNANCE ATr4D MANAGE￿NT Governthg doeumeDt Philanthropy Impact 18 8 r8gi8tered clwity in England and Wale8 and a Company limited by GuAr￿tee, in Engl&nd & Wale8. The governing dixuments of Philanthropy Impact 8tate that the orgAni8ation 18 governed by & Trustse Bo&rd comprising no more than 15 and no fewer than 8ix TruBtseB who are membern. Tni8tee8 can serve two con8ecutive term8 of three ye&r8. The po8ition of Chair 18 nominatsd on a yeRTly ba8its. The Board 18 8UPPOrted by a nun)ber of 8tandkng conmJfittÈes: Governane8 and Nomlnation8 Con)mitte The eommittee eontillUè8 to Teview And evaluate the stren￿￿ of the Board ts en8ure that the PA)ard and its cotillnittees are maintained at 8trength and perforjning their respon8ibilitie6 effeetively. It r￿mMended the PA)ard COD8ider 8trengthening diver8ity and repre8entt4tion aeroB8 the profe88ional 8enTice8 Bector. Finanee Con)mittee The committee reviewed the quarterly management accounts risk as well a8 the ￿)nUM1 budget and 8crutini8ed the 8tatutory annual account8. Membership* Re80urcittg and Innov&tlon The MembeT8bip, Re80ufciDg and IDnovation Committse'B (MRICI pury08e 18 to 8UPPOrt Philanthropy Imp&ct'8 work in &el)ieviDg its mi88ion by enabling the team to maximi8e revenue generation and nwket opportunities to grow the orgaDi88tion. Thi8 ]￿lUdeS the rnember8hip and 80cial enterpri8e arm of Philanthropy I￿pACt. MRIC BUPPOrts innovation to aadTe88 changing membership. c]i8nt and 8takebolder& need8. The Comllllttee &a￿se8 the Ex￿UtiVe a8 they develop and implement Phil&nthropy IMp￿t.8 BTOWth plan for the training and memberBhip Progr￿n￿e8, including incorne gener8tion and 6eaiability, marketing and ￿mmUniCatiOnS plan& Training and AccTedit&tion Comnuttee OverBee8 the orghni5ation'8 work to develop & pn)(W8 for accrediting profe8s1on￿ 8dvi$or8 ba8ed on an &greed Bet of 8tandard8 and CoMpeten￿e8. Thi8 has includel a sertor.wide coD8ultstion and a review of the options for cèrtificatioll and accreditation. It also advi8ed on the Strneture of att adVI￿r training PTogramme for finanual 8ervu%8 firn)8, legal and aecounting practices, and speeialist philanthropy advisors. Committee members have also volunteered their time and experti8e directly to support the delivery of the training programme which has been Tun in-hou8e TAryth pn)fe88ional ser￿ceS firms, a8 well as in openiourse lormat for Philanthropy Impact members ajjd other professional bodies. The Committee 3180 continue8 to 8UPPOrt our programme of virtual eyents, the bi.monthly magazitie alld thought-le8d8rship actiwtie8. Public Affairs Con)mittee Support8 our vadvttacy work to advance the public debate growing philantlwopic ￿ving in the United Kingdom. The Committee discussed Televant policy i88ues developed a ¢ommuni¢atiot)8 Strategy to ensure that the cou￿tive view8 of member8 on some key i&ques could be ezpre88ed publiely. Page 7 PHILANThROPY IMPACT REPORT OF THE TRUSTEES FOR THE YEAR EI4DED 30 SEPTEMBER 2022 Most notably, sub￿￿￿Ons were made to the Charity Tax Cortimi88iOn, the Charity Tax Forum, to the Departhient for Digital Culture Media and Sport and Her Majesty'8 Treasury. These reLx>mmended po]iLie8 would support profes$ional adV￿Or8 to offer regular adV￿e to their cjients philanthropy and s¢xial investment. Recruitment and appoIntn￿Tht of new trustees New Trustee8 are recruited to the Board when vaeancies occur and against a thorough analysis of skills alld experience required. As a membership organi8ation Philanthropy Impaet principally seek8 nominations through its membersl)ip network. Potential Trutstee6 are invited to apply and are intervtewed by the members of the Governance and Nomillations Committee and then the Chair of the organigation. Our aim is to get the right person for the job attrarting a wide range of skills to the b)a An important eriteria for Èelertitig Trustees 18 the imp)rt4nce of diver8ity. Organlsatlonal structure The d8J.to.day n￿ement of Philanthropy Impact is operatsd by four A￿.tir0e Btaff including the Cbief EX￿utiVe, John Pepi Other 8UPPQrt wa8 Qbtsined from freelance a8wiats8, CQU8ult8Ut8 aud volunteers 4lld from our otrategic p8rtDers. A uwtiber of volunteeT8 ILav8 8189 generou81y offeTed their Ilelp in virtual event plallning, administratiou and kLOSting,' preparirLg 8rtides for Philauthropy Imp&¢t DVdg4zine w]d eontent for the orgaDi8Atigu's web site" pT0￿dIng m8rketiDg and diEital techntsltsgy 8UPPOt( and genetslly supwrting our &ctivitig$. The ￿8rd recognises the vitAI role these volunteer8 play in the work of Philatithropy ImpA¢t and would like to thank them for their valuable contributio REFERENCE AND ADMINtSTRATIVE DVTAILS Regi8tsred Company number 08625777 (England and Wale8) Reglstered Charhy number 1089157 Regi8tered offiee S Fleet P]acg l&)ndon EC4M 7RD T￿￿tee8 The Direetor8 of the co)npany are its T￿￿tse$ for the PULVO8e$ of charity law. The Trustees the year were as follow$". Ren￿e Hoare, Chair Ceri8 Gardner Cath Dovey George King (Deputy Chair) Darshita Gillies Lyn Tornlinson Edward FiTLch ¥andu Patel Richard Cassell Jo Bateson Sarah Farrow Jamie Broderick Keith MacDor￿1d (Joined the Board 21 September 2021) Page 8 PHILANTHROPY IMPACT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022 REFERENCE AND ADMINISTRATIVE DETAIIS Independent Exan)Iner FCA Orcom Civva18 Limited AceouDtsuts 50 Seymour Street l&)ndon WIH 7JG Solieitors Charles Ru888]I Speechly8 5 Fleet Plaee IA)ndon EC4M 7RD Approvèd by order of the FA)ard of trustee6 on 24 May 2023 and Bignèd on its bèhalf by. R Hoare . Trustee Page 9 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PHIL4NTHROPY IMPACT Jndependent exan)iner's report to the tntstees of Philanthropy Impaet ('the Company? J report to the eljarity trustses on my exanjination of the aecounts of th8 Company for the year ended 30 September 2022. Respon81billti•# and basls of teport As the Lharity's trustees of the Company (and a]80 its dirth for the purp08e8 of company Jaw) you are respoDBible for the preparation of the &ccounts in a(X0rdat￿% p￿th the roquirements of the Companie8 Act 2006 Cthe 2006 Act). Having satisfied myse]f that the accounts of th8 Company are not requir￿ tts be auditsd under Part 16 of the 2006 Act and gre eligibl8 for independent gxamination, I report in respect of my examination of your charity's accounts as carried out under 145 of the Charities ALI 2011 Cthe 2011 Act). In carrying out my examination I have followed the Dir￿10￿8 given by tILe Charity Commission u)Jder S8ction 145(5) (b) of the 2011 Act. Independent examlner's statement Sinee your charity'5 gr05s ineome exceeded £250,￿0 your examiner must be a meTrDber of a list8d IK)dy. I ean Confirm that I am qualified to undertake the examination because l am a registered m8mb8r of FCA which ts one of the listed bodies. I have eompleted my examination. I confirm that no matters bave ￿rne to my attention in Lxbnnection with the examination giving me cause to believe: ￿￿ountIng r￿ordS were not kept in reS[￿rt of the Company a8 required by Section 386 of the 2006 Aet. or the accounts do not attord with those Teeordg., or the aecounts do not comply with the aceounting requirements of S￿tIOn 396 of the 2(K)6 Act other thAn any requirement that the accounts give a true And fair ￿eW which 18 rlot a matter considered part of an independent exAmination' or the Aceount8 have not been PTepAred in aecoTdance with the method8 and principle8 of the Statement of R￿0Mmertded Practiee for aeeounting and reporting by eharitie8 (applicable to eharitieg preparing their accounts in aceordAnce with the Financial Reporting Stsndard applieAble in the UK and Republic of Ireland (FRS 102)). I have no Concen￿ and have eome acr088 no other mattern in ￿MMe¢tIon with the exan)ittation ts> whiclL Attention should be drawn in this rewrt in order tr) enable A proper Underst￿￿1￿￿ of the ac¢x>unts kn be reAched. FCA Orcom Civvals lll)Dited A¢¢ouDtAnts 50 Seymour Street IA>ndon WIH 7JG 24 May 2023 Page 10 PHILANTHROPY IMPACT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022 2022 Total fiwds 2021 Total Unrestricted Restricted fijnd nd Notes INCOME AND Ef4DOWMENTS FROM Donation8 and member8hip 77,763 208,988 28&746 286,177 Other trading actI￿tie5 19,010 19,010 16,019 Totsl 96,773 208,983 305,756 3(Y2,196 EXPENDITURE ON Raising funds 1,083 919 2,002 2,763 Charlt4bl$ &etlvitie8 Training, event8 and publication8 84,740 24,655 109.395 130,271 Other 12,750 183,389 196,139 169,162 Tota] 98,578 208,963 307,536 302,196 NET INCOMFJ(EXPENDITURE 11,800) 20 (1,780) RECONCILIATION OF FUNDS Total brought forwaTd 7,863 7,863 7,863 TOTAL FUNDS CARRIED FORWARD 063 20 6,083 The notes forn] part of th&we finall¢￿ statsments Page 11 PHIL4NTHROPY IMPACT BALANCE SHEET 30 SEPTEMBER 2022 2022 Total fund 2021 Total UnrestrictBd RestrA¢ted fund Noteg CURRENT ASSETS Debtor8 Ca8b at bank io 46398 8020 Ib,888 20,&61 62.136 59,881 5,260 136,398 85,118 S6,Y99 121,517 141,658 CREDTroiLs Ami)unts falling due witbin one year (79,055) 7,281 (7.281) Page 16 eontinued... PHIIANTHROPY I￿PACT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED JO sEl￿EMBER 2022 col￿PARATIvEs FOR THE STATEMENT OF FINANCIAL ACTIVIT￿. continu Unrestricted Restricted fund Eund Total Eund8 RECONCILIATION OF FUNDS Tota] fund6 brought forward 7,281 7,868 TOTAL FUNDS CARRIED FORWARD 7.863 7,863 TANGIBLE FLYED A4SETS Office eqwpment COST At l October 2021 and 30 Septomber 2022 3,889 DEPRECLITION At l October 2021 and 30 September 2022 8,889 NET BOOK VALUE At 30 September 2022 At 30 Septsmber 2021 10. DEBTORS: Amoilr￿ts FALLING DUEWITHIN ONE YEAR 2022 2021 Trade debtOT8 Other debtOYS 9nd prepayments 59,449 2,687 3,431 1,829 62,136 5,260 Page 17 coThtinued... PHILANTHROPY IMPACY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 SEpfEMBER 2022 11. CREDITORS: AMOUNVS FALLING DUE ￿THIN ONE YEAR 2022 2021 Trade creditors &)¢i818ecurity other taxes Other ereditoys 16,125 928 7,699 91,787 1,855 8,718 128,222 115,434 133,795 12. Net ovement in fimd8 At 1110121 At 3019122 Unye8trleted fund8 General fund 7,868 (1,800) 6,068 RestTiCted tund Restricted fund 20 20 TOTAL FUNDS 7.863 (1,780) 6,083 Net movement in funds, induded in the aErt)ve are as foUow8.' Incoming re￿urceS Re80urces Movement expended in fund8 Uwestricted £unds General fU￿d 96,779 (91573) {1,800) Re8tTieted funds Restrictsd fund 208,988 (208,965) 20 TOTAL FUNDS $05,756 (807.586) (1,780) Th8 ￿8￿￿eted fund8 included above comprise the grknts and donAtion8 Bet out in the narrative in nots 2. The8e were received fTom the Beacoll Collaborative to bllp￿rt 8peeific aetivitie8 undertaken by the charity. The 8moullts reeogtiiÈed XB ineome and expenditure in each year rellect the projeot arti￿ty. Amounts reeeived but not yet recognised a8 ineome were earried forward a8 deferred ineome 8howts in notk 11 alxwe. Page 18 eontinued... PHILANTHROPY LYPACT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE TEAR ENDED JO SEIYEMBER 2022 RELATED PARTY DISCLOSURKS The Trustees act as such in their personal capacity but are also relate(L by reason of tbeir o(mpation. to certain membeTB of the Charity. One of the donorB of the Charity is The Golden Bottle Th8t, Bet up by C HoBre & Co. The Chair of Philanthropy Impact, MT R Hoar¢ 18 a Partner at C Hoar¢ & Co. Cath Dovey 18 a Board member of Philanthropy Impact and a tru8tee of Beacon Collaborative. During the year, the Charity received £12,600 {2021: £65,225) fron] its B0￿d of Tru8teeo a8 donations. Included in PTofessional consultsncy fees and p￿£8￿lo￿al fees is an arnount of £67,487 (2021: £64,320) paid by the Charity to Aperio.Group Europe LI￿ted, a tompany in which the Chief Executive, Mr John Pepin 18 a director. 14. LIABILITY OF MEMBERS The liability of each memkr 18 limit*d ts £1. Page 19 PHIIANTHROPY IMPACT DETAtLED STATEMErif OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022 2022 2021 Donations and meJnbeE$hip Donation8 and grAnts Member8hip Bubscriptions 22&179 60,567 229,529 66,648 286.746 286.177 Other trading activitie8 Training, events and pub]icatlOn8 19,010 16,019 Total ineoming r￿OurCeS 305.756 302.196 Raising donations and legacie8 Printing, postage and stationery and telephone loog 2,763 Charit4bl¢ activitie¥ Conference travel, aecommodatkon and 8ubsi5tence IT and website maintenance Professiond ¢oD8ultancy fee8 Advertisin &740 28,811 69,784 2,110 6.266 72,967 52,038 109,395 120,271 Support Costs Manage￿￿￿t W4g¢8 Office Tent, utilities 8nd in8urance Profe88ional fees 137,032 5,921 42,049 95,691 12,446 52,631 18S,002 160,768 Bank ¢h8rge8 1,447 1,569 Governance c08ts Auditors, remuneration for ]Jon audit Work Sundries Aceount8ncy fees CArried forward 1,777 1.274 45 2,266 3,585 3.175 4,952 Thi8 page doe8 not form part of the statutory financial 8tatsments Page 20 PHILANTHROPY IMPACT DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED JO SEPTEMBER 2022 2022 2021 Governance cojts Brought forw8rd PAM)kkeeping ¢08t8 4,962 4,7J8 3,585 3,240 9,690 6,825 Total re80urce8 expended 307,586 302,196 Net (expenditure)ftheom¢ (1.780) Thi8 page doe6 not fonn part oethe 8tAtutory financial Statements Page 21