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2025-06-30-accounts

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

| prismthe gift fund 6)\ . TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 June 2025

Charity Registration No: 1099682 Company Registration No: 04677253 (England and Wales)

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

PAGE
Report of the Trustees 3-26
Independent Auditors’ Report 27-30
Statement of Financial Activities 31
Balance Sheet 32
Cash Flow Statement 33
Notes to the Accounts 34-47

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

DETAILS OF THE REGISTERED OFFICE OF PRISM THE GIFT FUND AND ADDRESSES OF ITS PROFESSIONAL ADVISERS

Registered Office

20 Gloucester Place London, W1U 8HA

Registered Charity Number 1099682 Company Registration number 04677253

Principal bankers

Coutts & Co 440 Strand, London, WC2R 0QS

Barclays Bank PLC Victoria St, Douglas, Isle of Man, IM99 1AJ

Auditors

HaysMac LLP Statutory Auditors 10 Queen Street Place London, EC4R 1AG

Solicitors Farrer & Co

66 Lincoln Inn Fields London, WC2A 3LH

Maurice Turnor Gardner LLP

15th Floor, Milton House, Milton Street London, EC2Y 9BH

Trustees

Mr. A Collard Lord C. E. R. Banner (appointed on 01 August 2024) Mr. C Mesquita Mr. J Amias Mr. J Gold Mr. J Simmons Ms. N Orji (appointed on 01 June 2025) Ms. P Lovell Ms. S Clare

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

REPORT OF THE TRUSTEES

The Trustees are pleased to present their annual report and audited financial statements of Prism the Gift Fund (referred to in this report as ‘‘Prism’’, ‘‘the Charity’’, ‘‘the Company’’, ‘‘the charitable company’’, and ‘‘the group’’) for the year ended 30 June 2025. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019.

STRATEGIC REPORT

PRINCIPAL OBJECTIVES

The objects for which the Charity is established are such charitable purposes as the Trustees (as defined in the articles of association of the Company) shall from time to time determine.

Prism's mission and aim is to increase the flow of funds into the charitable sector. This is achieved by administering the giving of individuals, groups and foundations swiftly, personally and efficiently, and in a manner beneficial to the recipients. Prism approaches this in two core ways (further information below).

— Providing Donor Advised Fund (DAF) services to High-Net-Worth (HNW) individuals and families who channel their national and international philanthropy through Prism as a time, cost, and tax effective alternative to setting up one's own grant making foundation.

— Providing Collective Fund services — charitable, finance and governance infrastructure to groups who want to create brands or projects of a charitable nature. Prism lends its charitable expertise as well as its charity number, administration and due diligence services to these groups.

Prism also provides administrative services to charitable grant making foundations. Prism helps support their back-office operation, prepares board papers, undertakes financial administration, administers grants and helps ensure the efficient and swift distribution of funds out into the charitable sector.

Structurally, Prism is one charity with multiple restricted funds that rely on operational partnerships with individual founders of either DAFs or Collective Funds.

The gap in funding in the charitable sector continues to grow as a result of global disasters, government funding cuts, the cost of living crisis and a dragging economy.

It is increasingly incumbent on major donors to continue to give and those that have not begun their philanthropic journey, to consider giving.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

PRISM’S ACTIVITIES ACHIEVEMENTS AND KEY PERFORMANCE MEASURES

In this latest financial year, a range of external factors has continued to affect people’s lives and influence charitable giving. From extreme heatwaves and other natural disasters around the world to the ongoing pressures of a struggling UK economy, many communities remain under strain. The cost-of-living crisis has led to record reliance on food banks and increased demand for frontline services — placing additional pressure on the charitable sector.

Yet, in the face of these challenges, there are signs of optimism in philanthropy. According to the latest Sunday Times Giving List, charitable donations from the UK’s top 100 philanthropists rose by £500 million last year. At the same time, newly released data from UKGrantmaking reveals that donor-advised funds (DAFs) distributed £2.1 billion to charities — a 20% increase year-on-year.

According to UKGrantmaking, net assets held by UK DAFs grew to £3.66 billion in 2023-24, a 12% increase from the previous year. DAFs have become increasingly active, high-impact giving vehicles, not just passive warehouses for wealth.

This growth is not just confined to the UK. Globally, DAFs are expanding fast. Many high-net-worth families hold assets across several jurisdictions, multinational businesses often seek tax-effective methods for giving in each of their regions of operation, and charities are increasingly fundraising from donors worldwide. This is all driving demand for cross-border solutions.

This rise comes against a backdrop of declining public and corporate giving. While donations from the UK’s wealthiest individuals rose by almost £500 million last year (according to the latest Sunday Times Giving List), broader charitable giving has slowed as households face cost-of-living pressures. Government support has flatlined, and for the first time, state funding is no longer the single largest source of grant income to charities.

Equally, while the total amount donated is growing, UK giving is increasingly concentrated among a smaller number of donors. This trend highlights the urgent need to broaden the donor base and deepen engagement among high-net-worth individuals.

This is precisely where Prism’s role becomes vital. Our unique market positioning and client base of HNW donors allows Prism to meet this challenge head-on. Prism continues to play an essential role building a pipeline of new major donors to give and those that are already giving to give more.

This last financial year also saw the launch of Prism’s 20th anniversary celebrations, looking at the impact and output that was made possible through the donors, intermediaries and charities supported by Prism. We marked over $1billion in donation income and distribution of over $600 million to charitable activities globally.

Prism’s key strategic objectives remain firmly driven by our mission to increase the flow of funds into the charitable sector, addressing the significant funding deficit that charities face as well as the need for philanthropy to step in as we see increasing need both in the UK and beyond.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Prism measures its success through a number of indicators. These include: donation income annually, distribution of funds out, assets under management and growth of knowledge and awareness of the power of DAFs as a philanthropic tool.

Prism saw voluntary income in the year ending June 2025, including investment income and fees reaching £91,367,170 (2024 - £94,084,252). Prism has continued to offer a resilient, highly responsive and efficient operation with a steady stream of new clients across the Donor Advised Fund and Collective Fund operations together with existing clients gifting further funds into their accounts.

Over the last financial period, Prism’s development and growth, the number of referrals from both the private client industry and donors themselves, illustrate the Trustees’ view that the mission of the Charity is both necessary and valued by the donor community within the UK.

Prism’s expenditure for the last financial year was £81,164,911 (2024 - £69,363,208) including grants to hundreds of organisations across 27 locations globally, showcasing an impressive flow of funds out to the sector.

A portion of the donations received by Prism are assets, generally a portfolio of shares. The portfolios of cash and shares are managed by independent investment advisors, who are suggested by the donors. The portfolios are reviewed by the Finance and Investment Committee of the Board of Prism for evaluation and sign off. These assets are held for a period, until such time when the donors consider it necessary to liquidate the assets to make payments to their designated charitable activities.

In addition to managing restricted funds, Prism educates the professional advisory community in understanding the philanthropy landscape in the hope that the HNW individuals and families that they service will be encouraged to engage in the sector. Several of these presentations and sessions have taken place over the past financial period and, as a result, private client practitioners have increased their referral level and underlying dialogue with Prism around philanthropy. Most sessions were conducted face to face in offices, with the added benefit of remote participation via Zoom for advisors in other regions.

The following include a selection of events and publications in which Prism participated:

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Prism’s 20th Anniversary

Prism operates a broader public engagement events programme in order to facilitate dialogue amongst stakeholders and introduce new ideas around philanthropy to Prism's wider network.

Starting in November 2024 and running throughout 2025, Prism launched its 20th anniversary events series in celebration of this key milestone, exploring some of the major topics shaping the future of giving.

In November 2024, the event series began with a powerful conversation on the role of philanthropy in scientific research and how it can shape the future of giving.

Titled "Why Philanthropy Matters in Scientific Research," the event highlighted the deep personal ties between science, medical research, and philanthropy. Chaired by Diana Noble, who brought her expertise in financing and developing medical research, the panel featured Riccardo Zacconi (PTEN Research Foundation and co-founder of King.com), Leila Rastegar Zegna (Kabuki Syndrome Foundation and Kindred Capital), and Caroline Olshewsky (Founding Board Member, Foundation for ARID1B Research and CEO of Lupus). Each speaker shared their journey into philanthropy— motivated by a shared golden thread: they are all parents of children with rare medical conditions. They spoke about the power of private philanthropy to share the course and direction of scientific research, to expose new and emerging discoveries and to build communities that span international borders.

In February 2025, the second event in Prism’s 20th Anniversary series explored the vital intersection of philanthropy and education in conversation with renowned educator and historian Sir Anthony Seldon. He engaged Prism supporters in a thought-provoking discussion on the future of learning, the role of philanthropy, and the transformative impact of AI on education. Sir Anthony emphasised the need to reimagine education—moving away from a rigid, exam-focused system towards one that fosters curiosity, creativity, and lifelong learning. A key theme was the importance of building resilience and mental well-being through education, drawing on his pioneering work at Wellington College, where happiness and emotional literacy were integrated into the curriculum. He warned that as AI reshapes the landscape, traditional models risk becoming obsolete unless they embrace personalised, values-driven learning. Philanthropy, he argued, must play a bold role in driving this Fourth Education Revolution—supporting innovation, ethical leadership, and approaches that prepare young people not just to succeed but to thrive.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

The pinnacle of Prism’s 20th Anniversary celebrations was a memorable Gala Reception hosted at Christie’s, bringing together over 300 guests—including donors, intermediaries, supported charities, and friends of the organisation. The evening celebrated the power of human connection, resilience, patience, and partnership—core values at the heart of meaningful philanthropy. Prism’s CEO, Anna Josse, opened the evening by reflecting on two decades of innovation, collaboration, and impact. She was followed by Penny Lovell, Trustee of Prism and CEO of Hottinger and Edmond de Rothschild (Private Banking UK), who spoke passionately about Prism’s influence: “promoting giving across our industry… not just managing the mechanics of giving, but shaping the very conversation around it. It’s real thought leadership powered by hard work and deep dedication.” A lively panel discussion followed, featuring Stuart Roden, renowned financier and philanthropist, alongside Anna Jones, CEO and Co-Founder of RefuAid—one of Prism’s distinctive Collective Funds. The conversation, moderated with humour and precision by broadcast journalist Nick Ferrari, offered insight into the motivations and challenges behind effective philanthropy. The evening concluded with closing remarks from Amelie Sarrado, Director at Chairman’s office at Christie’s, marking a fitting end to a celebration not just of Prism’s past 20 years, but of the future of giving.

The final event will be held during the next financial year looking at Philanthropy and AI.

Overall, Prism is incredibly proud to be a convener for philanthropists and private client advisers, creating a forum for open discussion and idea-sharing around giving. Prism’s mission is to increase the flow of funds into the sector. Prism will continue to continue to champion these conversations and provide education across the private client space, helping more individuals begin their philanthropic journey with the right structure — including Donor Advised Funds — and the expertise to give effectively.

The following awards have been won:

  1. Citywealth Leaders List, Top 10 Philanthropy Advisors 2024

  2. Wealth Briefing, European Awards, Philanthropy Offering/ Initiative of the Year, 2025

  3. CityWealth, Powerwoman Awards, 2025

  4. Wealth Briefing, Wealth for Good Awards, Overall Female Executive Championing a Wealth for Good Strategy (UK), 2025

IMPACT THROUGH GRANTMAKING

Prism’s primary objective as a charity is help facilitate the distribution of grants to charities globally. Aligned with this mission, Prism is guided by its donors who make recommendations on the distribution of charitable funds. The charity’s role is to ensure all grant funds are applied in accordance with the regulatory requirements and best practices governing charitable giving.

Through its Donor Advised Fund and Collective Fund administrative services, Prism enables individuals, families, groups and organisations to maximise the impact of their giving and contribute effectively to the causes they care about most. Embracing a donor-centric approach to grant making, Prism cultivates a culture of giving that is inclusive, responsive and reflective of the diverse needs and priorities within the philanthropic community.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Prism continues to excel around its due diligence and compliance work. Prism carries out due diligence on all charities it gifts to and ensures the appropriate reporting is received too. Each donor has very different interests, and so Prism gifts to a broad collection of charities. As the regulatory landscape has tightened, Prism has responded accordingly by implementing appropriate policies. Prism’s application processes both for prospective clients joining into Prism and for gifts out to overseas entities have further been developed, incorporating more rigorous questioning, to ensure Prism maintains detailed and full oversight of use of funds.

Prism categorises its charitable grants into ten main impact areas distributed globally. These are aligned with the United Nations' Sustainable Development Goals, UK charitable purposes according to UK charity law, and humanitarian actions during natural disasters and human made crises. Organising Prism's impact into these distinct areas helps us assess the effectiveness of our charitable distributions, showcasing the breadth of giving models which Prism offers.

Furthermore, Prism’s niche Collective Fund model, widely supported by donors and experts in the philanthropy field, has enabled groups of individuals and organisations to raise funds efficiently and give to charities globally.

During the past year, Prism was able to fund and support a wide spectrum of charitable initiatives spanning various sectors and geographies.

We are highlighting below some of this work across ten impact areas:

Humanitarian Aid

Between September 2024 and June 2025, Prism donated £422,330 over three instalments to Csilla von Boeselager Stiftung Osteuropahilfe e.V. (CvB) , a German-based charity providing nondenominational, non-political emergency aid across Eastern Europe. Founded in 1991 by Csilla von Boeselager following the fall of the Berlin Wall, CvB focuses on sustainable, locally led humanitarian efforts that reach underserved communities. Prism’s grant supported CvB’s ongoing response in Ukraine, where needs continue to grow despite declining donations. Of the total, £264,022 was allocated to New Dawn, a partner organisation operating a humanitarian hub in Odessa. These funds have enabled the delivery of life-saving goods such as food, water, sanitary supplies, and medical aid to thousands of households, including internally displaced people in frontline villages. An additional £45,161 supported The Brothers of Albert in Saporischja, who distribute food and emergency supplies to approximately 1,500 people four to five times a week. The remaining funds were directed to partner organisations in Lviv and Beregovo, helping to provide similar life-saving aid. As the conflict persists, Prism’s partnership with CvB ensures continued support for vulnerable communities - upholding the Foundation’s mission to bring hope, relief, and dignity to those most affected by crisis.

End Poverty and Hunger

In June 2025, Prism granted £150,000 to Magic Breakfast , a UK charity working to remove child hunger and poverty as barriers to education by providing free, nutritious breakfasts across England and Scotland. Founded in 2003, Magic Breakfast partners with over 1,000 schools, supporting more than 300,000 children and young people each morning to ensure no child is too hungry to learn. Prism’s grant was partially restricted to the development of a new data system designed to enhance the charity’s operational efficiency and support future growth. The system will enable the delivery team to forecast food requirements, negotiate better prices, and optimise the use of donated goods - ensuring resources go further. It will also strengthen Magic Breakfast’s advocacy and fundraising

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

efforts by informing evidence-based recommendations to government and advancing a national school breakfast policy. Ultimately, Prism’s support is helping Magic Breakfast move closer to its 2025 goal: reaching 350,000 children daily across 1,300 schools, and ensuring every child starts the day ready to learn.

Good Health and Well-Being

During the year, Prism awarded £965,210 to GiveWell UK, a charity dedicated to maximising the impact of charitable giving. Founded in 2007 and headquartered in San Francisco, GiveWell identifies and recommends evidence-based, cost-effective programmes that improve lives, primarily in global health and poverty alleviation. Through rigorous research and transparent analysis, it directs funding to high-impact opportunities via several grant making vehicles. Prism’s grant was allocated to the ‘All Grants Fund’, which supports pilot projects, organisational development, and exploratory research. In 2024, the fund facilitated $397 million in grants across 22 countries, reaching an estimated 34 million people and contributing to over 74,000 lives saved. Notable grants included support for malaria vaccine rollouts, tuberculosis prevention, and mobile health technology pilots. Prism’s support has helped GiveWell respond dynamically to global needs, driving measurable improvements in health outcomes through a flexible and responsive funding model.

In November 2024, Prism granted £250,000 to Alzheimer’s Research UK , the UK’s leading dementia charity. Founded in 1992, the organisation funds pioneering research to treat, diagnose, and prevent all forms of dementia, including Alzheimer’s disease. Prism’s unrestricted grant supported progress across multiple areas, from scientific discovery to advocacy and public awareness. In 2024, Alzheimer’s Research UK supported 2,800 researchers across 90 countries, funded studies at 39 UK institutions, and published 512 research papers advancing understanding of dementia’s causes and treatment pathways. Its flagship Drug Discovery Alliance, which bridges academic science and industry, oversaw 31 active projects and identified four new drug targets - marking critical steps toward future therapies. These achievements, made possible in part through Prism’s support, are helping drive breakthroughs in effective treatments for dementia.

Education

In July and October 2024, Prism awarded a grant in two tranches totalling £100,000 to Edith Neville Primary School , a Camden-based school and Family Centre serving over 200 children. Prism’s funding supported a wide range of enrichment initiatives, from swimming lessons and workshops to wholeschool trips, creating memorable learning experiences for students and their families. The grants also strengthened the school’s wellbeing provision. Vikki, the school therapist, worked with over 20 children facing challenges such as trauma, OCD, self-harm, and behavioural issues, while also providing staff supervision. Additional speech and language therapy reached 10 more children and their families, and the nurture group offered small-group sessions focused on emotional regulation and collaboration. Through these programmes, Prism’s support has enabled Edith Neville Primary School to respond to rising educational and mental health needs, fostering a caring environment where children can learn, grow, and thrive.

In November 2024, Prism awarded £100,000 to the University of Cambridge , one of the world’s oldest and most prestigious academic institutions. Prism’s grant supported the Baltic Geopolitics Programme, housed at Cambridge, which provides a rigorous and interdisciplinary platform for exploring strategic dynamics in the Baltic Sea region and the UK’s evolving role within it. Initiated in

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

2021, the programme fosters cross-border collaboration, policy engagement, and public-facing scholarship. It enables the Baltic Fellowship to represent the programme at global forums and build strategic networks. The Fellowship has catalysed new initiatives, including the Baltic Energy Network, and led to upcoming events on infrastructure security, Arctic geopolitics, and Poland’s regional role. The programme’s second postdoctoral Baltic Fellow, Dr Trevelyan Wing, has been central to this growth, elevating its visibility and influence across Europe. His work spans energy security, democratic resilience, and regional defence cooperation, helping to shape the future of Baltic geopolitical research.

Gender Equality and Human Rights

In June 2025, Prism awarded £60,000 in unrestricted funding to Trevi , a UK charity providing safe, trauma-informed spaces for women in recovery. Established in 1993, Trevi operates four centres across Devon and accepts referrals nationwide, offering housing and holistic support for women with complex needs, including those overcoming addiction and facing parenting challenges. In a sector that remains grossly underfunded - where less than 2% of UK charitable giving goes to organisations led by and for women and girls - Prism’s contribution holds particular significance. Trevi’s rehabilitation programme includes individual counselling, group therapy, medical assessments, and coordinated social services, with tailored recovery plans for each woman. For mothers, this includes parenting support aimed at keeping families together. Supporting over 1,000 women annually, Trevi helps break cycles of addiction and rebuild lives - 74% of programme graduates were substance-free, and 90% of children remained in their mother’s care. Prism’s support enables more women and families to access the hope and healing of a true fresh start.

Environment and Animal Welfare

Between October 2024 and June 2025, Prism made three donations totalling £143,602 to ClimateForce , an Australian non-profit organisation based in the Daintree Rainforest in Queensland, a UNESCO World Heritage Site. ClimateForce is dedicated to regenerating degraded land and reversing the impacts of deforestation. Its mission focuses on enhancing biodiversity through the planting of native tree species and implementing nature-based solutions to restore ecosystems and sequester carbon. Prism’s funding primarily supported the Tropical Regen Project, which aims to regenerate 527 acres of the Daintree - the world’s oldest rainforest. The project involves planting 360,000 trees to restore the rainforest’s ecological integrity. Prism’s support came at a pivotal moment, providing essential financial backing for the organisation’s critical work. Notably, the funding enabled an urgent land acquisition, expanding the geographic scope of the Tropical Regen Project. This purchase has allowed ClimateForce to continue deploying environmentally sustainable and economically viable innovations off-grid, organically restoring an additional section of the Daintree Rainforest.

Justice and Community Development

In April 2025, Prism awarded £70,000 to The Community Foundation for Wiltshire & Swindon , a UKregistered charity that identifies local needs and invests in initiatives to strengthen communities and help people thrive. Part of the grant supported the charity’s core operating costs, while the remainder was distributed back into the community as flow-through funding. Each year, the Foundation awards approximately £2 million to grassroots voluntary, community, and social enterprises tackling pressing local issues. It also provides grants to young people to support their

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education, development, and future employment. In 2024, the Foundation funded 82 university bursaries totalling £403,200 and awarded 238 grants to 162 local businesses and organisations. Through its Advice, Training, and Events programme, it brings community groups together to share knowledge, build skills, and explore topics such as funding, business planning, and marketing. Last year, the charity’s grants and programmes supported over 83,000 people across Wiltshire and Swindon. With a goal to invest £10 million over the next five years, the Foundation continues to play a vital role in building stronger, more resilient communities.

Sustainable and peaceful economic growth

Between September 2024 and March 2025, Prism awarded a total of £175,000 in unrestricted grants to Pro Bono Economics (PBE) , a UK charity using economics to improve lives and empower the social sector. Founded in 2009, PBE aims to end low wellbeing in the UK by combining practical economic support for charities with research and policy work that drives systemic change. Prism’s funding contributed to core costs, supporting the first year of PBE’s new three-year strategy focused on delivering more impact, deeper impact, and better working. In 2024, PBE supported 169 charities, trained its 100th economist in wellbeing measurement, and welcomed its 1,000th volunteer economist. The charity focused on three key areas: a national audit on low wellbeing, children and young people’s mental health, and unlocking the potential of civil society. It published the UK’s first annual audit of low wellbeing, revealing that 3.2 million adults live below the “wellbeing poverty line”. Furthermore, the impact of Prism’s grant enabled 29 charities to benefit from Data First Aid, a service which matches charities with volunteer economists to provide data analysis and visualisation support. Overall, PBE has helped charities use their data more effectively, operate more efficiently, and target their services towards those most in need.

In September 2024, Prism awarded £74,984 to the SKAPA Foundation , a Swedish organisation promoting innovation and scientific development. Established in 1985 by the Development Fund Municipality in Stockholm, SKAPA supports Swedish industry by showcasing how new ideas drive economic and societal progress. Prism’s grant has enabled broader outreach and programme expansion, including the SKAPA Innovation Mingle 2024, a flagship event bringing together inventors, policymakers, and industry leaders to celebrate Swedish innovation. SKAPA helps inventors transform promising ideas into viable, market-ready solutions. In 2024, the Foundation introduced new scholarships to accelerate commercialisation and promote gender equity. Its reach continues to grow through regional jury networks, national events, and expanding sponsor engagement, ensuring a vibrant future for Swedish innovation.

Art and Cultural Heritage

In January 2025, Prism awarded the first of five annual £1,000,000 grants to the Royal Academy of Arts (RA) , a world-renowned art gallery and Britain's longest-established art school. Founded in 1768 and located in Piccadilly, the RA promotes the appreciation and practice of art and architecture. Entirely artist-led by peer-elected Academicians, the organisation hosts major exhibitions, including the world’s largest open-submission show, and runs the RA Schools offering education to aspiring artists. As an independent charity with no government funding, the RA relies on philanthropy to sustain its work. Prism’s grant supports two core priorities: £800,000 towards the Endowment Fund, securing the long-term future of initiatives like the prestigious, tuition-free RA Schools postgraduate programme; and £200,000 towards the RA’s exhibition programme, enabling world-class shows

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enjoyed by hundreds of thousands annually. Prism’s multi-year commitment empowers the RA to plan confidently and continue inspiring future generations of artists and art-lovers.

In February 2025, Prism granted £3,012,242 to Art Explora , a French foundation dedicated to expanding access to the arts. Founded in 2019, Art Explora works to remove geographical, financial, social, and symbolic barriers to cultural engagement. Recognised as an organisation of public interest by the French Government in 2023, the foundation develops innovative programmes that reach diverse audiences across Europe. Prism’s grant has supported both operational costs and programme development, including the Art Explora Academy, a free digital platform offering art history education and certificate courses validated by Sorbonne University, now serving over 750,000 users. Prism’s grant has also contributed to the operation of MuMo, a mobile museum that brings the Centre Pompidou’s contemporary art collection to rural and suburban communities. Additional initiatives include the Art Explora Festival, which travels by boat across the Mediterranean with 12 planned stopovers in European cities through 2026; CinéMo, a mobile cinema offering free access to arthouse films; and residency programmes for artists and researchers in France and Albania. Since its inception, Art Explora has built a network of 2,000 volunteers in France and the UK, reaching over 600,000 people globally - 30% of whom are children. Prism’s support is helping scale these efforts, bringing art and culture to communities that need it most.

Religion

In January 2025, Prism awarded a £50,000 grant to Worth Abbey , the first of five annual instalments. Founded in 1933, Worth Abbey is an English Benedictine monastery located in Crawley, dedicated to fostering a community rooted in welcome, worship, witness, and wisdom. In addition to its monastic life, the Abbey offers public liturgies and retreats, and operates Worth School, a private day and boarding school for students aged 11 to 18. Worth Abbey’s influence extends well beyond its grounds. In 2019, it established an urban monastery in Brighton, and it maintains a longstanding missionary partnership in Peru, where the community helped found a monastery, parish, and health centre - now sustained by an independent charitable trust. Prism’s unrestricted gift has supported the Abbey’s general operations and ongoing programmes, helping to ensure it remains a place of refuge, reflection, and spiritual nourishment for all who visit.

PRINCIPAL RISKS

Prism maintains a comprehensive, up-to-date risk register - a risk management tool that consolidates all identified risks and includes key details for each risk, such as the nature of the risk, monitoring procedures, and measures for prevention, mitigation, and control. This tool supports Prism’s trustees in identifying and assessing risks, determining necessary mitigation actions, and serving as a monitoring and evaluation mechanism. Prism’s Head of Compliance maintains and monitors the risk register, on a regular basis, alongside the Charity’s trustees and senior management team, to ensure ongoing risk management.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

The principal risks to Prism and our approach to mitigate the risk are as follows:

Category Risk Principal mitigation action
Financial
performance		 - Generating sufficient cash flow to
meet organisational objectives and
minimum cash requirements
- Donor/client retention		 - Comprehensive financial
management procedure
- Quarterly review of financial
forecasts, cash flow and reserves
- Oversight applied by Prism’s
Investment Committee
- Ongoing review of charitable activity
- Quarterlyreview ofpipeline
Staff -Inability to recruit and retain staff
members with appropriate
knowledge or skills, resulting in staff
shortages
- Loss of key staff or staff changes
across the organisation slowing
down productivity and development		 - Focus on staff recruitment and
training practices
- Review of interview and assessment
process
- Ongoing investment of staff
development and training
- Effective line management support
and staff well-being
- Successionplanning
Reputation
&
Compliance		 - Reputational repercussions as a
result of an adverse incident
- Negative social media or press
coverage
- Non-compliance as a result of
fraud/misuse of granted funds		 - Robust policies, procedures and
reporting standards
- Clear controls and checks in place to
ensure effective oversight of activities
- Ongoing staff training
- Social media policy and guidelines
implemented
- Keeping abreast with changes in the
guidelines of the Charity Commission
- External input/expertise
External
events:
economic –
political (e.g.
global wars)		 - Possible political and regulatory
changes leading to significant
impact in operations
- Challenges to keep up with
increasing workload and growth		 - Monitoring impact on charitable
activity
- Regular monitoring of financial
management accounts
- Review of policies and procedures as a
result of significant events/changes
- Review of internal productivity levels
- Legal/financial advice

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

FUTURE PLANS

Prism will continue to further build on the developments made in 2024-2025. The changing legislative environment in the UK presents both challenges and opportunities, and Prism hopes to see a steady flow of donation income as more people consider charitable giving as part of their financial planning.

Prism is looking to grow both its relationship management team as well as finance team to accommodate its client base and focus on efficient and bespoke client service.

The continued high level of donations received by Prism has led the Charity to increase its investments, aiming to achieve a greater return on its funds and, therefore, increase the amount available for distribution to other charities over time. The Trustees continue to look to diversify the assets accepted into the Charity which will increase its ability to increase the flow of funds into the charitable sector.

FUNDRAISING REGULATIONS

Prism’s main offering, the Donor Advised Fund (DAF) receives donations from HNW individuals. These are all personal relationships and referred by clients or private client intermediaries.

A smaller portion of Prism’s income comes from its Collective Fund model, with some donations received through Just Giving, a reliable online charity fundraising platform, or other similar donation platforms. A number of Collective Funds also raise funds either by applying to grant making trusts or by organising fundraising events. In these cases, Prism may receive donations from charitable foundations in the UK or overseas, as well as from individual, major, or corporate donors. Prism ensures that written agreements are in place, as appropriate, to clearly set out the terms of the funding, the intended use of funds, and any relevant requirements. These measures help ensure compliance with applicable charity law and fundraising regulations.

Prism has a robust fundraising policy, which states that the founders of the Collective Funds or any other individuals fundraising on their behalf are required to adhere to Prism’s regulations and industry guidelines. The founders make sure that any staff members and volunteers engaging with fundraising are trained to adhere to all applicable laws and guidelines, as clearly stated in Prism’s policy. The founders ensure that all their staff and volunteers receive detailed training in fundraising and are appropriately supervised while carrying out fundraising activities at charitable events.

During the year, Prism received no complaints in relation to fundraising activities carried out either by Collective Fund founders or their staff and volunteers. To further protect donor data and ensure legal compliance, Prism has a privacy policy in place shared with and applied to all its Collective Funds. In accordance with this policy, Collective funds do not share donor data with other charities or external organisations.

Duty to promote the success of the Charity – Section 172 Statement

Section 172 of the Companies Act 2006 requires the Trustees of Prism to act in the way they consider, in good faith, would be most likely to promote the success of the charity to achieve its charitable purposes.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

In doing so, Trustees must have regard (amongst other matters) to:

Section 172 considerations are embedded into the fabric of Prism’s structures and decision making throughout the Charity’s leadership, from the board to senior leadership and beyond.

The day to day management decisions are delegated to the Senior Leadership and charity team, who are employed by Prism Administration Limited. The latter have an agreement with Prism the Gift Fund on the running of the charity. The board have strategic oversight of all key decisions through quarterly meetings, relevant sub committees, review of key policies and processes as well as oversight of onboarding of new clients and key investment decisions.

Prism is able to achieve its strategic objectives by considering its’ key stakeholders, including staff, donors, intermediaries and grantees in our decision making framework. The table below outlines how section 172 considerations are met across our key stakeholder groups:

**Stakeholder Group ** Key considerations How we engage
Donor Advised
Fund Donors		 Prism’s mission to increase funds into
the charitable sector is driven by our
ability to deliver a swift, efficient and
bespoke offering to our donors,
removing barriers to gifting.
The structure of our operation is
designed to create a tailored and
personalised service to our donors.		 Each donor receives their own
Relationship Manager to
administer their account.
All communication is
personalised and tailored.
Response to donor requests
are made in a timely manner.
The team are driven by an
entrepreneurial approach to
their work, designed to find
solutions to their donors
philanthropic ambitions.
Collective Fund
Founders		 As above the Trustees imperative is
to drive forward Prism’s mission as
well as ensure that our creative and
donor focused approach to
philanthropy is at the heart of what
we do.		 Each collective fund receives
its’ own relationship manager.
All Collective Fund needs from
back end administration,
finance and grant making and
compliance is managed by

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Prism's Collective Fund model is a
unique offering aimed at individuals
and groups who are raising funds for
a specific issue area. It was created in
response to a need in the sector to
have a mechanism to fundraise
swiftly and tax effectively and
respond to immediate need.
Our trustees continue to work to
take on complex and much needed
projects that address real needs
across communities globally.
Deliver a bespoke efficient and swift
service to support founders in their
mission.		 Prism so the founders can
focus on their mission.
Prism provides a holistic due
diligence and governance
infrastructure to ensure all its
collective funds comply with
charitable guidelines and
applicable laws. This includes
Prism’s suite of organisational
policies on: safeguarding,
whistleblowing, data
protection, conflict of
interests, financial
management processes, as
well as very strict and clear
guidelines around compliance
and financial controls.
As part of Prism’s onboarding
process for Collective Fund
founders, Prism dedicates
significant time to educate the
founders, explaining Prism’s
systems and processes in
terms of the related protocols
around the disbursement of
funds, safeguarding and other
compliance requirements on
reporting and monitoring use
of funds.
Staff Our team are essential to the
organisations ability to deliver its
mission and drive our values.
Strategic Board level decisions take
into account the impact of key
decisions on staff.		 As the organisation has
grown, we continue to review
our staffing and development
plans to ensure we build a
skilled, experience and happy
workforce.
Quarterly reviews
Annual Performance and
Remuneration Reviews.
Training and Development.
Grantees Prism prides itself on its high
standard in due diligence and		 As Prism works with a range
of organisations,including

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

compliance. We provide funding to
hundreds of grantees globally
delivering on our mission of
increasing the flow of funds to the
sector.
We have clear criteria, forms and
reporting requirements of all our
grantees. We work with grantees to
ensure that our requirements are
appropriate to the size, scale and
complexity of the grant.		 small charities and notfor-
profits, the Charity takes time
to educate them on the
requirements of UK charity
law, and to ensure they
understand and act in
compliance with the relevant
guidelines, taking special care
to ensure that funds
disbursed by Prism are used
solelyfor charitable purposes.
Prism applies a multi-layered
due diligence procedure
which allows us to thoroughly
review and assess
organisations, ensuring they
are appropriate partners to
work with before any funding
is released. Prism assesses an
organisation's structure and
governance including
trustees and senior
management team, financial
and risk management
processes, safeguarding policy
and systems, as well as overall
operational capacity.
Prism monitors all its grants
through ongoing
communication with the
grantee organisations and
also by requesting regular and
detailed reports explaining
how the grant funds have
been used.
Intermediaries Intermediaries include all those
within the broader financial and legal
system who work with prospective
donors that Prism can support to
facilitate and increase their
philanthropy.
Ensuring that Philanthropy remains
at the heart of client conversations
where it comes to their wealth		 Regular meetings, events and
activities.
Prism attendance and
speaking opportunities at
events as well as hosting
intermediaries at our own
events.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

distribution or where it comes to
supporting groups to set up their
own fundraising structures is a
priorityfor Prism.		 External communications to
keep the sector up to date
with developments

ENERGY AND CARBON REPORTING

The climate crisis is one of the biggest challenges facing our world today. Prism is committed to becoming a more energy efficient organisation.

We have a flexible working culture which means that the whole office works from home on the same day once a week, reducing our overall energy consumption.

We prioritise electronic communication and encourage a paperless culture.

Prism is exempt from disclosing energy consumption as less than 40,000kWh of energy was consumed during the year.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

FINANCIAL OUTCOME FOR THE YEAR

A summary of the results for the year and the resources deployed at 30 June 2025 is:

Unrestricted Income
Restricted Income
Expenditure on Charitable Activities
Net (loss) on investment properties
Net gain/(loss) on investment assets
Net Income transferred to total funds
Total Funds at 1 July 2024
Net surplus for the year
Total Funds at 30 June 2025		 2025
2024
£
£
2,830,054
3,193,754
88,537,116
90,890,498
91,367,170
94,084,252
(81,164,911)
(69,363,208)
(40,000)
(1,440,000)
3,452,727
19,754,417
13,614,986
43,035,461
332,824,021
289,788,560
13,614,986
43,035,461
346,439,007
332,824,021

Public Benefit

The Trustees have complied with their duty under the Charities Act 2011 and have paid due regard to public benefit when preparing this report.

Providing opportunities for charitable giving has a direct benefit to the wider public and the community in general. There are no unreasonable restrictions which would prevent any recipients from benefiting from Prism's services. The benefit provided to the public is consistent with the charitable aims of Prism and is in due regard to the Charity Commission guidelines.

Prism supports a range of charities in the UK and overseas. As it evaluates grants, Prism assesses the impact of each of the recipient organisations and ensures they have a broad impact and reach many constituents of their target market.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

Prism is a Charity (registered number 1099682) and a company limited by guarantee with no share capital (registered number 04677253). The governing document is the Articles of Association.

The objects for which the Charity is established is to encourage donors to give funds to charity in an efficient, swift and personal manner, beneficial to the recipients.

Under the Articles of Association, the Charity has the power to invest the monies of the Company not immediately required for its purpose in such investments as the Trustees consider appropriate, subject to any conditions or consents imposed by law.

Prism the Gift Fund created The Prism Charitable Trust, a Special Trust, the corporate Trustee being Prism the Gift Fund. Any assets sitting in this trust are held on trust, rather than as the corporate property of Prism the Gift Fund. This was a structure suggested by Prism’s lawyers to help protect the assets of Prism as the Charity grew.

Prism has created separate bank accounts and contracts for the two operations so that the money flow into Prism the Gift Fund and The Prism Charitable Trust are separate.

BOARD OF TRUSTEES

The Board of Trustees, who are also members of the Company, are required to conduct the affairs and the general business of Prism and meets quarterly. The Articles of Association provide that onethird of the Trustees must retire at each Annual General meeting. Persons being appointed or reappointed must be recommended to the Board or proposed by a company member not less than 14 or more than 35 days before the date of a general meeting, together with a notice of willingness to be appointed or re-appointed signed by the proposed Trustee.

The Board currently stands as follows:

All of the above served during the whole year or from the date of appointment.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

New members of the Board are co-opted by existing Trustees to maintain or augment the range of skills and experience appropriate to the needs and activities of the Charity and subsequently proposed for election by the Members at the AGM.

On appointment, new Trustees are provided with appropriate Charity Commission guidelines, a copy of the Articles of Association, a full set of the Charity’s Policies, the current Strategic Plan, the latest Statutory Accounts and an outline of their duties and responsibilities.

The Board delegates responsibility for the day-to-day management of the Charity to the Management Team, who report to the Board on the performance of the Charity. Trustees review financial and operational trends.

The Charity has created a Finance and Investment Committee chaired by Anthony Collard. The other members are Charles Mesquita, Jeremy Amias, Jonathan Gold and Sharonjit Clare. This committee meets quarterly and oversees the budgets set by the team as well as overseeing the investment portfolio.

The Trustees are also aware of prospective clients and, where relevant, will help the team on due diligence around new clients. The Founder and CEO, Anna Josse, meets regularly with the Chair of the Board and the Chair of the Investment Committee so that the board have regular input on process and key decisions. In addition, Anna Josse meets on a one-to-one basis with other board members who bring different expertise into the Charity where required.

The arrangements for setting the pay and remuneration of the key personnel who oversee the operation of Prism the Gift Fund, are discussed by relevant management. The overall budget of the Charity is discussed with the Chair and Head of the Investment Committee.

The Trustees meet outside of regular board meetings, to look at future strategy of the Charity and to be updated on appropriate Safeguarding training.

RESERVES

The Board’s reserves policy is to maintain a minimum level of operating costs in light of the predominant risks to the organisation, specifically a fall in donation income and clients. The Board has reviewed the current unrestricted reserves of the Charity and considers that the level is sufficient but not excessive, so as to safeguard the Charity from financial risk and unforeseen expenditure, such as a shortfall in income or rising core costs. The Charity has £1,985,170 (2024: £1,653,666) unrestricted reserves that includes £1,637,170 (2024: £1,293,666) cash (free reserves) and £348,000 (2024: £360,000) property asset to cover 12 month’s fixed operation costs.

As at the year end, the Charity holds £1,985,170 (2024: £1,653,666) in unrestricted funds. The Charity's level of unrestricted income and funds carried forward have historically been relatively small compared to its total income. This is as reflection of the Charity's relatively low cost base for which such funds are required. However, unrestricted funds have risen steadily over the last 5 years as the Charity has continued to grow, which reflects a desire for greater reserves over a period of high uncertainty as a result of the continued challenges of Brexit, and the Cost of Living Crisis.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Unrestricted funds are regularly reviewed internally by the trustees, as disclosed in the trustees' report to ensure they remain adequate.

RISK

The Trustees have undertaken procedures in order to implement SORP 2019 as it is the acknowledged best practice for charities. They have undertaken a risk management process, which outlines the key risks of the Charity, relevant control procedures, responsibilities and future actions to be taken. Future monitoring of risk has now become embedded within the overall agreed procedures of the Charity.

The Trustees are satisfied that all the major risks to which the Charity is exposed are being reviewed and systems of internal control are being established to manage those risks. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

The Trustees have assessed the risks associated with making donations to regions that may be deemed high-risk due to political instability, conflict, limited infrastructure, or lack of transparency. In response, the decision was made to work with known and trusted organisations that have a proven track record, local presence and expertise, and established operational processes. Rather than making direct donations to organisations operating in high-risk areas—where we have limited visibility or involvement in the end use of funds—we will channel support through trusted intermediaries or partners who have already conducted due diligence and maintain established relationships with vetted grantees.

The Trustees continually assess the investments before one is made and review current investments on a quarterly basis. The review will consider the risk alongside the key objective of Prism which is to get as much money out into the Charitable Sector.

Risk management

The Trustees regularly review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. No significant risks were identified during the year.

Related parties

There are relationships between the Charity Trustees and other charities and organisations with which it cooperates in the pursuit of its charitable objects. The Charity contracts with Prism Administration Limited, a company whose directors are the co-founders of the Charity and Anna Josse is the CEO. This has been disclosed further in note 15.

If the Charity provides a grant to an entity where a Trustee has a pre-existing relationship, the Trustees are required to disclose the potential conflict of interest and are removed from any decision making in respect of support provided. Prism Administration employees are present at Prism’s Board meetings to report on performance and activity of the funds and to provide additional support to the Trustees to enable them to make strategic decisions.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

INVESTMENT POLICY

1. Introduction

2. Investment Objectives

3. Risk

3.1 Attitude to Risk

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

3.2 Assets

4. Governance

The Investment Committee will make a full report to the Trustees on an annual basis. This policy will be reviewed as needed but at least every two years.

The charity is engaged with numerous investment managers for the management oversight of the funds.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Directors (who are also Trustees for the purposes of charity law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the Charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the Charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

STATEMENT OF DISCLOSURE TO AUDITORS

So far as the Trustees are aware, there is no relevant audit information of which the auditors are unaware. Additionally, the Trustees believe they have taken all the necessary steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

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Charity Registration number 1099682 Company Registration number 04677253

PRISM THE GIFT FUND

AUDITORS

As part of regulatory guidance, the board has appointed HaysMac LLP as their auditors during the year.

In November 2024 Haysmacintyre LLP changed their registered name to HaysMac LLP.

By order of the Board

Charles Bueno de Mesquita

Charles Bueno de Mesquita Trustee

Date: 19 March 2026

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

INDEPENDENT AUDITORS’ REPORT TO MEMBERS OF PRISM THE GIFT FUND

Opinion

We have audited the financial statements of Prism the Gift Fund for the year ended 30 June 2025 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from 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 trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

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 the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material 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:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ 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:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about 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. Reasonable assurance is a high level of assurance, but is not a guarantee 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 and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to charity and company law applicable in England and Wales, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011 and UK tax legislation.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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Charity Registration number 1099682 Company Registration number 04677253

PRISM THE GIFT FUND

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has 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 and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Kea becwres

Richard Weaver (Senior Statutory Auditor) For and on behalf of HaysMac LLP, Statutory Auditor

10 Queen Street Place London EC4R 1AG

Date: 19/03/2026

30

PRISM THE GIFT FUND

Charity Registration number 1099682 Company Registration number 04677253

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 June 2025

Note
Income from
Donations
1
Other income
2
Investments
2
Total
Expenditure on
Cost of generating funds
Charitable activities
3
Total
Net surplus for the year
Net loss on revaluation of
investment property
Net gain on revaluation of
investments
Transfer of funds
Net Movement in Funds
Total Funds brought
forward at 1 July 2024
Total Funds carried
forward at 30 June 2025		 Unrestricted
Restricted
Funds
Funds
Total 2025
Total 2024
£
£
£
£
-
83,141,822
83,141,822
85,289,547
2,001,864
77,607
2,079,471
2,492,900
828,190 5,317,687 6,145,877 6,301,805
2,830,054
88,537,116
91,367,170
94,084,252
-
958,012
958,012
754,104
2,361,034 77,845,865
80,206,899
68,609,104
2,361,034
78,803,877
81,164,911
69,363,208
469,020
9,733,239
10,202,259
24,721,044
(12,000)
(28,000)
(40,000)
(1,440,000)
-
3,452,727
3,452,727
19,754,417
(125,516)
125,516
331,504
13,283,482
13,614,986
43,035,461
1,653,666
331,170,355
332,824,021
289,788,560
1,985,170
344,453,837
346,439,007
332,824,021

All of the above results were derived from continuing activities. The Charity has no recognised gains or losses other than those dealt with in the Statement of Financial Activities

The notes on pages 34 - 47 form part of these accounts.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

BALANCE SHEET AT 30 June 2025

Note
FIXED ASSETS
Property Investment
5
Other Investments
5
Total
CURRENT ASSETS
Debtors
6
Cash at bank and in hand
Total
Creditors: amounts falling due within one year
7
NET CURRENT ASSETS
Creditors: amounts falling due after one year
7
NET ASSETS
Unrestricted funds
8
Restricted funds
8
TOTAL FUNDS		 2025
2024
£ £
1,160,000
1,200,000
286,228,907 270,436,463
287,388,907 271,636,463
3,289,537
2,255,591
57,149,503
60,494,313
60,439,040
62,749,904
(43,500)
(362,346)
60,395,540 62,387,558
(1,345,440)
(1,200,000)
346,439,007 332,824,021
1,985,170
1,653,666
344,453,837 331,170,355
346,439,007 332,824,021

The financial statements were approved by the Board on 19 March 2026 and signed on its behalf by:

Charles Bueno de Mesquita

Charles Bueno de Mesquita Trustee

The notes on pages 34 - 47 form part of these accounts.

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PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 June 2025

Cash flows from operating activities
Net movement in funds
Non cash donations
Revaluation of investment property
Revaluation of fixed asset investments
(Increase)/Decrease in debtors
(Decrease)/Increase in creditors
Net cash inflow/(outflow) from operating activities
Cash flows from investing activities
Purchases of fixed asset investments
Sale of fixed asset investments
Net cash outflow from investing activities
Decrease in cash at bank
Cash at start of the year
Cash at the end of the year		 2025
2024
£
£
13,614,986
43,035,461
(3,730,980)
(34,284,872)
40,000
1,440,000
(3,452,727)
(19,754,417)
(1,033,946)
1,447,030
(173,406)
23,214
5,263,927
(8,093,584)
(71,981,428)
(92,930,369)
63,372,691
82,951,616
(8,608,737)
(9,978,753)
(3,344,810)
(18,072,337)
60,494,313
78,566,650
57,149,503
60,494,313

A reconciliation of net debt has not been presented as the group does not hold any debt balances.

33

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 June 2025

Accounting policies

A summary of principal accounting policies, all of which have been applied consistently throughout the year and the preceding year, is set out below.

Basis of preparing the financial statements

The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In applying the accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Trustees' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis.

Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies

The critical judgement that the Trustees have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

Assessing indicators and impairment

In assessing whether there have been any indicators or impairment of assets, the Trustees have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

Key sources of estimation uncertainty

Due to the straightforward nature of the activities of the Charity, the Trustees do not believe that there are any estimation uncertainties that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, with the exception of determining the year end carrying value of investments and investment properties. The values as at the year end have been derived from 3rd party reports and independent property valuations.

34

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

Funds Structure

Unrestricted funds can be used in accordance with the charitable activities at the discretion of the Trustees.

Restricted funds are donations made to Prism and the onward designation of those donations is directed by the donor in agreement with the Trustees. Sometimes known as donor advised funds, the majority of the donation income of Prism falls into this category. A breakdown of restricted funds in shown in note 8.

Upon review, the funds of the charity have been reconfigured to align with the charity’s strategic impact areas. As a result, the comparatives have also been updated. This change does not impact the results or the totals for income or expenditure of either year.

Donation income recognition

Charitable income is recognised on a cash received basis other than where an accruals basis provides a more accurate basis or will give a fairer representation of the underlying nature of the transaction. Income is recognised so far as there is entitlement to the income, it is more than likely that it will be received and the amount is quantifiable.

Investment income recognition

All Investment income is recognised in the Statement of Financial Activities in the period in which the Charity is entitled to receipt.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

Expenditure on charitable activities includes all costs incurred by the Charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the Charity apportioned to charitable activities.

Fixed asset investments

Quoted Investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing mid-market value.

Property and unquoted investments are initially recognised at cost and subsequently measured at fair value unless fair value cannot be measured reliably in which case, they are measured at cost less impairment.

Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between fair value at the year end and their carrying value.

35

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

Provisions

Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it is probable that the obligation will be required to be settled, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted when the time value of money is material.

Financial instruments

Financial assets and liabilities are recognised when the Charity becomes party to the contractual provisions of the financial instrument. In addition to its fixed asset investments, as described above, the Charity holds basic financial instruments which comprise cash at bank, trade and other receivables and trade and other payables.

Financial assets - classified as basic financial instruments

(i) Cash at bank and in hand

Cash at bank and in hand includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Other receivables

Other receivables are initially recognised at the transaction price, including any transaction costs. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the Charity assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Statement of Financial Activities.

(iii) Other payables

Other payables are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid.

Foreign exchange

The financial statements are presented in the currency of the primary economic environment in which the Charity operates (the functional currency), being GBP. Any foreign currency transactions are translated into the functional currency using exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the transactions at yearend exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Financial Activities.

36

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

Going concern

After making enquiries, the Trustees believe that Prism has adequate resources to continue in operational existence for the foreseeable future. For this reason, the Trustees have continued to adopt the going concern basis in preparing the financial statements.

The Trustees have reviewed and considered the relevant information, considering a period of a minimum of 12 months from the date of approval of these financial statements, in making their assessment. Based on these assessments, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

1. INCOME FROM DONATIONS

Individuals’ donation income
Collectives’ donation income
Total		 2025
2024
£
£
68,858,814
64,462,992
14,283,008
20,826,555
83,141,822
85,289,547

The donation income is split between a donation of cash of £75,919,624 (2024: £51,004,678) and donation of assets of £7,222,198 (2024: £34,284,869). By nature of a Donor Advised Fund service, donors may give significant donations in their first year and take time to carefully work out a strategy for their giving. This is to ensure the distributions are made, with thorough guidance, due diligence, governance and compliance. In addition, if a donor makes a significant gift in Year 1, the effective distribution of such a large gift may take a number of years.

2. OTHER INCOME AND INCOME FROM INVESTMENTS

Investment Income

Interest and dividend receivable
Total
Other Income
Other Income
Prism Admin Fees
Total		 2025
2024
£
£
6,145,877
6,301,805
6,147,877
6,301,805
2025
2024
£
£
297,170
410,829
1,782,301
2,082,071
2,079,471
2,492,900

37

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

3. CHARITABLE EXPENDITURE

The breakdown of charitable expenditure into our 11 impact areas is as follows:

2025 2024
£ £
Disaster Relief and Humanitarian Aid 5,661,719 5,661,719
18,234,502
Povertyand Hunger 2,417,714 1 2,417,714 1,251,893
Health and Well Being 12,642,457 12,642,457
11,299,796
Education 21,734,005 21,734,005
12,797,755
Equalityand Human Rights 3,221,638 3 3,221,638 3,426,797
Religion 4,245,957 3 4,245,957 3,687,724
Arts & Culture 11,001,106 9 11,001,106 9,151,885
Economic Growth 348,013 1 348,013 1,050,774
Justice and CommunityDevelopment 7,997,525 2 7,997,525 2,211,610
Environment and Animal Welfare 1,100,412 2 1,100,412 2,357,720
General Charitable Purposes 7,475,319 639 7,475,319 639,973
TOTAL 77,845,865 66,110,429

Charitable Expenditure split by Impact Area:

Disaster Relief and Humanitarian Aid

Poverty and Hunger

Health and Well Being 2

Educa on 2

E uality and Human Rights

Religion

Arts Culture

Economic Growth 0 ~~|[.] .~~ Jus ce and Community Development 0 ~~.~~ Environment and Animal Welfare ~~.~~ General Charitable Purposes

38

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

Direct charitable expenditure – Other Costs

Management and administration costs
Governance costs
Total		 2025
£
2024
£
2,229,614
2,082,071
131,420
416,604
2,361,034
2,498,675

Governance costs are fees of £35,300 (2024: £33,600) payable to the Auditors for audit fees and other accounting services. Management and administration costs include office rent, donation administration and other office costs.

No payments are made to Trustees.

4. NET INCOME FOR THE YEAR

The net income for the year is stated after charging:
Auditors’ remuneration
Auditors’ remuneration for non-audit services		 2025
£
2024
£
35,300
33,600
8,200
7,500
43,500
41,100

Included in the fee payable to the Auditors is work on accounting, tax and other related matters.

5. FIXED ASSETS

Fixed asset property investment
Fair value at 01 July 2024
Fair value movement
Fair value at 30 June 2025		 Unrestricted
Restricted
Total
£
£
£
360,000
840,000
1,200,000
(12,000)
(28,000)
(40,000)
348,000
812,000
1,160,000

The charitable company purchased a property in April 2012.

Avison Young has provided an updated, desktop valuation, dated as at the year end, 30 June 2025. It should be noted that Avison Young has not re-inspected the subject property. The valuation at 30th June 2024 and the update at 30th June 2025 has been prepared in accordance with the current RICS Valuation Global Standards, effective from 31 January 2024, published by the Royal Institution of Chartered Surveyors (the RICS Red Book) on the basis of Fair Value as defined in the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019. The Trustees have an option over the value of the building, whereby once sold, a proportion of the sales proceeds are able to be used for general running purposes of the Charity. As at 30 June 2025, the Trustees are of the opinion that this option will be exercised upon disposal, given

39

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

the continuing growth of the Charity and subsequent running costs. As such, it was agreed to recognise the relevant proportion of the value of the assets as unrestricted in these financial statements.

Listed investments– restricted fund

Fair value as at 01 July 2024
Gift of assets (Net)
Purchases in the year
Sales in the year
Fair value movement
Fair value at 30 June 2025		 Total
£
270,436,463
3,730,980
71,981,428
(63,372,691)
3,452,727
286,228,907

The value of the holdings has been disclosed at their fair value on 30 June 2025. The net gift of assets is net of gifts received of £7,222,198 and gifts transferred out of £3,491,218.

Included in investments held at the balance sheet date was:

Bonds
Equities
Hedge Funds
Mixed Portfolio
Total
. DEBTORS
VAT repayment due
Social Impact Loan
Other debtor - Gift Aid
Other Loan
Total		 2025
2024
£
£
2,011,180
2,373,136
27,618,181
21,268,633
122,029,453
126,096,063
134,570,093
120,698,631
286,228,907
270,436,463
2025
2024
£
£
26,310
51,164
1,140,930
1,330,930
1,922,297
873,497
200,000
-
3,289,537
2,255,591

6. DEBTORS

40

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

Social Impact Loan

RefuAid, a collective fund operating under the auspices of Prism, run an interest-free lending programme dedicated to helping refugees in the UK complete their training and licencing so they can work in their field in the UK. The ‘Access Loan” scheme provides people who have claimed asylum in the UK the opportunity to return to their previous career with an interest-free loan that covers the cost of requalification. As part of RefuAid’s scheme, Prism receives funding via social impact loans by entering into social investment agreements with funders supporting this programme. During the year, a social investment of £10,000 originally made to RefuAid’s Access Loan scheme was converted into a charitable grant in support of RefuAid’s general charitable activities.

The scheme is operated as follows:

East Lancashire Moneyline (IPS) Limited, known as Moneyline, is a not-for-profit organisation providing access to credit for the lowest-income households in the UK. Moneyline has partnered with RefuAid to provide loan provision and administration services. All contracts with RefuAid’s beneficiaries include clear repayment terms and loan payment arrangements. Beneficiaries repay their loans directly to Moneyline, which then returns the funds to Prism so the original funders can be repaid. However, some funders may choose not to be repaid and instead opt to recycle their loan back into the scheme. In this case, Moneyline retains the funds and lends them again to new beneficiaries of the RefuAid loan programme.

7. LIABILITIES DUE WITHIN ONE YEAR

Social Impact Loan
Accruals
Other creditors
LIABILITIES DUE IN MORE THAN ONE YEAR
Social Impact Loan		 2025
2024
£
£
-
275,000
43,500
41,350
-
45,996
43,500
362,346
2025
2024
£
£
1,345,440
1,200,000

See comments in note 6 for an explanation of the Social Impact Loan.

41

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

8. FUNDS

Balance at 01 July 2024
Net movement in funds
Balance at 30 June 2025
Represented by fixed assets
Cash at bank
Other net assets / (liabilities)
Balance at 01 July 2023
Net movement in funds
Balance at 30 June 2024
Represented by fixed assets
Cash at bank
Other net assets / (liabilities)		 Unrestricted
funds
Restricted
funds
Total 2025
Total 2024
£
£
£
£
1,653,666
331,170,355
332,824,021 289,788,560
331,504
13,283,482
13,614,986
43,035,461
1,985,170
344,453,837
346,439,007 332,824,021
348,000
287,040,907
287,388,907 271,636,463
1,637,170
55,512,333
57,149,503
60,494,314
-
1,900,597
1,900,597
693,244
1,985,170
344,453,837
346,439,007 332,824,021
Unrestricted
funds
Restricted
funds
Total 2024
Total 2023
£
£
£
£
1,390,587
288,397,973
289,788,560
235,237,276
263,079
42,772,382
43,035,461
54,551,284
1,653,666
331,170,355
332,824,021
289,788,560
360,000
271,276,463
271,636,463
209,058,424
1,293,666
59,200,648
60,494,314
78,566,650
-
693,244
693,244
2,163,486
1,653,666
331,170,355
332,824,021
289,788,560

42

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

Balance at 01 July
2023
Income
Expenditure
Net loss on
investment
property
Net gains on
investments
Balance at 30
June 2024
Income
Expenditure
Transfer of funds
Net gains on
Investments
Net loss on
investment
property
Balance at 30
June 2025		 DAF
Collective
Total
restricted
funds
Unrestricted
funds
Total
£
£
£
£
£
269,550,879
18,847,094
288,397,973
1,390,587
289,788,560
69,837,117
21,053,381
90,890,498
3,193,754
94,084,252
(39,581,539)
(27,282,994)
(66,864,533)
(2,498,675)
(69,363,208)
(1,008,000)
-
(1,008,000)
(432,000)
(1,440,000)
19,500,587
253,830
19,754,417
-
19,754,417
318,299,044
12,871,311
331,170,355
1,653,666
332,824,021
73,953,932
14,583,184
88,537,116
2,830,054
91,367,170
(63,248,820) (15,555,057)
(78,803,877)
(2,361,034)
(81,164,911)
7,827
117,689
125,516
(125,516)
-
3,452,727
-
3,452,727
-
3,452,727
(28,000)
-
(28,000)
(12,000)
(40,000)
332,436,710
12,017,127
344,453,837
1,985,170
346,439,007

43

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

9. OPERATING LEASE COMMITMENTS

At 30 June 2025 the Charity has the following annual commitments under operating leases expiring as follows:

As lessee:

Land and buildings:
Less than 1 year
2-5 years		 2025
2024
£
£
109,096
166,475
154,552
263,648
263,648
430,123

A new 5-year lease was entered into in November 2022. In addition, another 5-year lease was entered into in July 2023 and this lease was transferred out in December 2024.

As lessor:

Land and buildings:
Less than 1 year
2-5 years
Over 5 years		 2025
2024
£
£
115,710
141,252
-
115,710
-
-
115,710
256,962

10. TRUSTEES REMUNERATION

During the year, the Trustees received no remuneration or expenses from Prism or any related entity.

11. STAFF COSTS

There are no staff costs as Prism does not employ anybody directly. Staff are employed and paid by Prism Administration Limited as part of the service provided to Prism.

12. STATUS

Prism is a registered charity constituted as a company limited by guarantee, and does not have share capital. The liability of each member is limited to £1.

13. CAPITAL COMMITMENTS

The Trustees are not aware of any capital commitments.

14. CONTINGENT LIABILITIES

The Trustees are not aware of any contingent liabilities.

44

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

15. RELATED PARTY TRANSACTION

15.1 The Charity has no related party transactions, except those highlighted in note 15.2

15.2 PRISM ADMINISTRATION LIMITED

Prism the Gift fund was founded by Anna Josse and Gideon Lyons. They are both directors and shareholders of Prism Administration Limited. Prism Administration Limited has a contract with Prism the Gift Fund to run its operations. In the year to 30 June 2025 fees of £1,782,301 (2024: £2,082,071) were paid to Prism Administration. These charges are agreed directly with the donor before funds are received. The charges are made to Prism the Gift Fund and recharged to the relevant fund at cost.

Prism Administration Limited provides a range of support services including:

16. DONATIONS MADE

Prism works at the highest level of compliance and governance, reviewing charities both in the UK and overseas before grants are made.

The individual donors suggest where they would like to make donations. Where there are multi-year grants Prism will review the project through reporting and accounts before making a grant in the following year.

For overseas gifts, Prism has detailed application forms the entity has to complete which is assessed and reviewed by a team to ensure the entity is complying with UK charitable law and is a well-run organisation.

For Collective Funds, Prism is reviewing grant requests as they arise, working with partners in the UK or other countries to ensure a project is delivered efficiently and in line with UK charitable law. There is ongoing reporting and monitoring of grant funds via strict grant agreements stipulating clear reporting parameters and requirements in accordance with the size of a grant and the duration of a grantee programme. Furthermore, Prism has diversified its reporting requirements via reviewing other reporting tools and mechanisms which demonstrate charitable output such as videos, pictures and online media alongside financial reporting.

The work right across the board of supporting a range of charities is clearly aligned to Prism's aim of ensuring funds flow out into the charitable sector and to highly effective and well-run charities.

45

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

17. COLLECTIVE FUNDS

Below is a breakdown of Collective Fund balances segmented by fund impact area:

Impact Category 2025 2025 2024 2024
No. of funds Balance No. of funds Balance
Arts & Culture
Disaster Relief and Humanitarian Aid
Economic Growth
Education
Environment and Animal Welfare
Equality and Human Rights
General charitable purposes
Health and Well Being
Justice and Community Development
Poverty and Hunger
Religion		 3
2
1
8
1
4
8
17
7
3
2		 £127,844
£1,186,204
£913
£1,650,626
£16,440
£3,663,325
£1,310,684
£3,249,270
£640,120
£149,197
£22,504		 2
3
4
8
2
2
8
20
7
6
3		 £57,274
£4,965,728
£8,666
£1,536,296
£108,976
£1,836,196
£958,141
£2,373,109
£465,487
£455,948
£105,490
56 £12,017,127
65		 £12,871,311

18. GRANTS DISTRIBUTION – Consolidated by Country/Region, >£50k distributed

Country 2025 2024
UK £57,870,316 £44,828,901
USA £5,262,811 £5,301,658
Europe £5,220,291 £9,925,290
Otherglobal regions £4,684,416 £6,176,339

19. INCOME RECEIVED – Consolidated by Country/Region, >£50k received

Country 2025 2024
UK £54,921,428 £42,615,016
USA £1,703,700 £4,328,791
Europe £19,210,376 £5,626,203
Otherglobal regions - £130,000

46

PRISM THE GIFT FUND Charity Registration number 1099682 Company Registration number 04677253

Notes to the Accounts for the year ended 30 June 2025 (cont.)

20. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITY

Income from
Donations
Other income
Investments
Total
Expenditure on
Cost of generating funds
Charitable activities
Total
Net surplus for the year
Net (loss) on revaluation of
investment property
Net gain/(loss) on revaluation of
investments
Transfer between funds
Net Movement in Funds
Total Funds brought forward at 1 July
2023
Total Funds carried forward at 30
June 2024		 Unrestricted
Restricted
Funds
Funds
Total 2024
£
£
£
-
110,328,454
110,328,454
2,121,877
-
2,121,877
602,186
2,204,892
2,807,078
2,724,063
112,533,346
115,257,409
-
669,683
669,683
2,146,049
65,907,871
68,053,920
2,146,049
66,577,554
68,723,603
578,014
45,955,792
46,533,806
-
-
-
-
8,017,478
8,017,478
-
-
-
578,014
53,973,270
54,551,284
812,573
234,424,703
235,237,276
1,390,587
288,397,973
289,788,560

47