Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E Charity Registration Number.. IICKM17 Company Registration Number. 04534462 HAMPSHIRE AND THE ISLE OF WIGHTCOMMUNITY FOUNDATION la registered company limited by Euarantee and a registered charityl ANNUAL REPORT ITRUSTEES, REPORT AND FINANCIAL STATEMENTS) ST FOR THE YEAR ENDEO 31 DECEMBER 2024 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHTCOMMUNITY FOUNDATION Trusteeg Report HAMPSHIRE ANDTHE ISLE OF WIGHT COMMUNITY FOUNDATION ANNUAL REPORT ITRUSTEES, REPORT ANO FINANaAL STATEMENTS) FOR THE YEAR ENDED 31ST DECEMBER 2024 Contents Pages Trustees, Report 2-13 Audiiorfs Report 14-17 Financial Statements Statement of linancial activltles 8alance Sheet Cashflow statement Notes to the cashflow statement 18 19 20 21 Notes to the Financial Statements Note l- Accounting policies Notes 2-22 22-24 25-32 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OF WIGHT COMMUNITY FOUNDATION TRUSTEES. REPORT The Trustees present their report, together with the financial statements of the Charity, for the year ended 31" December 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2(X)6, the Memorandum and Articles of Association, and Accounting arhd Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102- effective l January 20191. The Hampshire a￿ltrE1s1e of Wight Community Foundation IHIWCFI isa registered charity Inumber 11004171. These accounts include the activity of four linked charities.. Montagu Neville Durnford and Saint Leo Cawthan Memorial Trust (linked charity- 1100417-11,. The Lord Mayor of Portsmouth's Charity (linked charity- 1100417-21,. Alderman Joe Davidson (linked charity- 110041741,. and Futcher School Foundation (linked charity- 1100417-51. The charity is a company limited by guarantee and registered in England & Wales Inumber 045344621. The reglstered offlce address Is: The Orchard White Hart Lane Basingstoke Hampshire RG214AF President NiBel Atkinson, His Majesty's Lord-Lieutenant of Hampshire Trustees Rebecca Kennelly MBE - Chair Iretired 6 December 20241 Amelia Riviere DL- Chair of Trustees (elected 6 December 2024 Rlchard Barton-wood - Hon. Treasurer (resigned 13 September 20241 Rachel Cooper- Hon. Treasurer lelected 6 December 20241 (Chair of Finance, Investment and Risk Committee) Krysia Butwilowska - Deputy Chair Ichair of People Commlttee and Chair of Portsmouth Committee) Simon Cleverly- Company Secretary (Chair of Philanthropy & Communications Committee) Peta joyce (lol Ash CBE Grace Cheynev Joshua Hènsman Andrew Jov lan Prideaux Danesh Puttv Sukanya (Sukil Sitaram (Chair of Grants Committee until June 20241 Michael Smith (Chair of IOW Committee) Oliver Stanley IAppointed 07 June 20241 Ichair of Development Committee) Robert IRobl Wood Matthew (Matt) York (Appointed 07 June 20241 (Chair of Grants Committee from June 20241 Key management personnel lacqui Scott- Chief Executive Marilyn Vaux- Finance Manager Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OF WIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd Bankers Coutts & Co 440 Strand London WC2R OQS Investment Managers CCLA One Angel Lane London EC4R 3AB Sarasin & Partners Juxon House 100 St Paul's Churchyard London EC4M 8BU Mayfair Capital Investment Management Ltd 55 Wells Street London WIT 3PT Auditor Morris Crocker Station House North Street Havant P09 IQU Sollcltors Knight5 Pl¢ 1000 Lakeside North Harbour Western Road Portsmouth Hampshire P06 3EN Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd Our purpose Hampshire and the Isle of Wight Community Foundation is an independent grant making charity focused on enabling positive social change within the poorest and most disadvantaged communities in Hampshire, Portsmouth. Southampton and the Isle of Wight. We help local communities to flourish by making charitable grants to effective community groups tackling poverty, disadvantage and inequality, when and where they can make a real difference. We inspire local philanthropists. funders and donors to make a lasting impact with their generosity through our endowment model and professional grant making approach. Achievements and performance in 2024 Our fundamental purpose is to make charitable grants to individuals and community groups that help our communitie5 flourish. In 2024, we made grants totallin8 £1.1 milliori to 216 community groups and individuals in the region. We have been proud to support the voluntary 5ettor and io be part of a safety net for the many people in our region who face poverty, discrimination or disadvantage. But there is no quèstion that the voluntary sector is fearful for the future. Uncertainty surrounds almost every aspect of the sectorfs daily work - local government reor8anisation and devolution combined with macro. economic fluctuations is creating insecurity about the future for some. and many community groups are impacted by local government budget cuts. Cuts to services also have a -knock on" effect on community groups supporting affected families and individuals. Across the board. community groups continue to report struggles with recruiting for both paid and volunteer roles and that they continue to face increasing, and increasingly complex, needs in their clients. For our communities, the cost of living crisis is ongoing- many impM)verished people already struggling with their day to day living costs will be further impacted by fluctuating energy prite caps and benefits eligibility chan8e5 in 2025. Hampshire is often seen as a wealthy area, but we know that living within a wealthy area on a low income adds challenges- for example limited public transport and relative lack of low-cost Supermarkets or access to the eommunity support that is available in more urban areas tan often exaterbate disadvantage. The communitv groups we are working with report this as a live issue for ihem, with financial stre55 creating ever worsening mental health amongst elients. Our response to what may seem like"perma-crisis" for the sector is to remain a reliable and dependable source of fundinB for ihe small, 8rass roots community groups which so many people in our tommunities iurn to when they are facing crisis. From Breakout Youth to Cownmunity Spirited Cafe, and from Families Matter to Oarsome Chance, the groups we funded in the past year all share one thing in common- that they are strongly positioned to provide the support that the people in their local community are crying out for. We are particularly proud about some of the highlights below. Partl¢ular hlghllghts for 2024 Include: new flow through fund to support youn8 care leavers. generously funded through CCLA Iby Local Authority Property Funds known as LAMITI and matched by Sovereign Network Group. This funding provides small grants to individual care leavers as they transition away from state support. as well as providing grants to several community groups delivering wide ranging help to young care leavers a new programme of Learning Sets for a cohort of communily groups receiving funding through Charles Burnett Memorial Funds, creating a supportive network for this geographically linked group of grantees, each working on employability and skills with different client groups publishing an entirely refreshed Grant making policy to ensure a high level of transparency for community groups applying for and receiving funding through us attending ten community based "Meet the Fundefl events around the region Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd delivering four webinars to increase community group understanding of our grant programmes delivered two learning sets for grantees from the Chades Burnett Memorial Fund launching a new fund for young entrepreneurs, generously funded by SWEF, which enabled six young people to develop their businesses delivering cost of living grant5 to seven community Broups. in a hyper-local flow through a grant making programme funded by Sovereign Network Group Organlsatlonal updates In late 2023 and early 2024, we reviewed our Strategy and created a new set of strategic objectives that ensure we are fit for purpose as we move into 3 new phase for the Foundation. Trustees and staff took part in a facilitated workshop to identify key strategic priorities and then worked together in groups in the following months. This process resulted in detailed key performance indicators to deliver those priorities over the five year stiategic period. Together, we articulated three strategic aims to enable us to grow over the next five years, each of which are underpinned by the robust Systems and procedures needed as an endowment holdin8 funder.. To be an informed. progressive and effective funder for local communities To enable us to grow our endowment funds to £30 million (by 20401 To Secure the profile of HIWCF and demonstrate professional expertise in Brant making and philanthropy, particularly to enable income growth Our renewed strategy speaks to the "virtUOU5 cycle of grant rnakin￿- excellent grant making leads to excellent publicity which leads to excellent philanthropy, which leads to excellent 8rant makin8- and so on. To support thi5 refreshed strategy, a key objective for 2024 was to enable a smooth transition to a new Chair of Trustees, after the retirement of Rebecca Kennelly MBE, who had been a Trustee for 15 years and who served as Chair for the last five. Rebecca had supported HIWCF through a perioé of significant Change, embedding our reputation in the region as an efficient and effective grant maker and helping us create the groundwork to re-launch our fundraising efforts. Recruitment of our new Chair of Trustees was led by our Deputy Chair and Chair of People Committee, Krysia Butwilow5ka, and we were delighted to appoint Amella Riviere DL, as our new Chair of Trustees in December 2024 after a full and open recruitment process. We are so grateful for everything Rebecca supported and led throughout her time as Trustee and Chair of Trustees,. and welcome Amelia as our Chair of Trustees in this new phase for the Foundation. We were also delighted to recruit three further new Trustees during 2024. Oliver (Olil Stanley chairs the New Forest Basics Bank and joined us in Jurbe 2024 and now chairs our Ifundraisingl Development Committee. Matthew (Matt) York also joined us in June 2024 with an extensive background as a grant maker through the National Lottery Community Fund and Santander Foundations, and who now chair5 our Grants Committee. In December our new Hon. Treasurer. (Margaret) Rachel Cooper FCA joined after Richard Barton Wood stood down during the year for personal reasons. All new Trustees were appointed unanimou51y. We are very proud that we have attracted such experienced and respected new Trustees to our Board. More information about our Trustees can be found here: htt hiwcf.or .uk our- eo We also welcomed two new part time staff in 2024- Marilyn Vaux as our new Finance Manager, and Samantha (Sam) Lawrence as our new Finance Officer. As part of our tommitment to our new strategy and our continued commitment to ensuring that Trustees have the skills they need to deliver their roles, two training sessions were undertaken with Trustees- Cyber Fraud Awareness- with thanks to Piers Rochford of the South East Cyber Crime Unit of Hampshire Constabulary,. and Equity, Diversity and Inclusion - with thanks to Kaveed Ali, of UKCF. Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd HIWCF'S charltable oblects and public benefft HIWCF is an independent grant making charity and company limited by guarantee. Founded in 2003, Hampshire and the Isle of Wight Community Foundation serves 3 population of c.2 million people across Hampshire, Portsmouth, Southampton and the Isle of Wight. The Foundation's charitable objects for Public Benefit, as defined in the Memorandum & Articles of Association. are: The promotion of charitable purposes for the benefit of the communities of Hampshire, the Isle of Wight, Southampton, and Portsmouth; Other exclusively charitable purp05e5 in the UK and elsewhere which are in the opinion of the Trustees beneficial to the community including those in the area of benefit. In achieving these objects, the Foundation has powers to assist financially or otherwise a charitable trust, association, individual or voluntary organisation, for the purposes of relieving those injured, bereaved, or in need of other charitable purposes connected with or arising out of the counties of Hampshire and the Isle of Wight, and cities of Portsmouth and Southampton. The Trustees have given due regard to public benefit guidance published by the Charity Commission in accordan￿ with Section 17 of The Charities Act 2011. These charitable objects are achieved through: Partnering with philanthropists. companies. institutional. government and non-government donors, to deliver effective grants programme5,' ManaBin8 endowment and flow-through/revenue funds by providing effective and professional investment management and Brant makin8 services, and by retaining existing and attracting new donors,. Ensurin8 that all levels of the Foundation operate to the highest standards. The Trustees refer to guidance on public benefit produced by the Charity Commission when reviewing the Foundation's charitable objectives and when planning future activities and grant makinB and are satisfied that these objects meet the appropriate charitable purposes and public benefit criteria as defined by the Charltles Act 2016. Structure, Governance and Mana8ement Governlnq Document Hampshire and the Isle of Wight Community Foundation, IHIWCFI. is an independent Charitable Foundation, registered in 2003 Icharity Registration 11004171 and is incorporated as a company limited by guarantee 1045344621. HIWCF is governed by its Memorandum and Articles of Association. The Articles define the public benefit of HIWCF and set out the powers of the Board of Trustees. The Trustees of the Charity and the principal advisers are listed on pages l and 2. The liability of the members in the event of HIWCF being wound up is limited to a sum not exceeding £1. HIWCF is a member of UK Community Foundation, a national organisation that connects and represents the 47 UK Community Foundations at a national level. Appolntment and indurtion of Trustees Invitation to join the Board is by selection. normally after an open recruitment process. and consideration is given to expertise. experience, Skills, and geographical representation. There is no limit on the number of members of the Company. however at least three members lor 25% of members if greater) must be in attendance for general meeting5 to be quorate. Board members approve any new Trustees at Board meeting5 who are then co-opted during the year and appointed at the next Annual General Meeting. New Trustees have a meeting with the Chair, the CEO, key staff with whom they will work and the remaining Staff Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd when possible. Induction covers building fLJnds, grant making, policies and procedures. Trustees meet quarterly, alternate meetings are held in person. and the Board meetings work to an agenda which allows ample time for open discussion on all issues including those related to HIWCF'S areas of interest and public benefit. Business is conducted between Board meetings through four constituted committees which are responsible for reviewing operational delivery against Strategic aim5. Finance, Investment and Risk Committee,. Grants Committee,. People Committee and Philanthropy and Communications Committee. Fundr315ing activities are also supported by a Development Committee which is chaired by a Trustee and involves external members. Two further geographic committees lead on grant making for their areas- the Portsmouth Advisory Board and the Isle of Wight Community Fund Committee. The terms of reference for these Committee5 Set out the powers and authority delegated to them. The day-to-day management of HIWCF, the management of the grants and the development of the funds is delegated to the Chief Executive and staff. Monltorlng perfomionce Key performance indicators IKPlsl were fully revised in June 2024 as part of the wider organisational Strategic review. Each sub-committee takes ownership of its set of Kpls and the team are asked to report against them in detail in quarterly sub-committee meetings. The Board is then presented with the full set of updated KPIS each quarter and any which are flagged as red or amber lon the RedlAmber/Green ratin8 system) are brought to their attention and detailed explanations and mitigations or remedial actions are provided. A full risk management review was undertaken in November 2024 and is monitored on a quarterly basis. This review identified 42 individual risks, clustered under nine themes. Each individual risk was analysed pre- and post-mitigations on a matrix scoring system which assesses each particular risk based on it5 probability and impact15coring 1-5 on each). Each score is then multiplied, and any risks which score an over 15 are rated "red" on a red, amber, green scale. All risks are reviewed quarterly and presented in full to the Finance, Risk and Investment Committee for analysis. The nine risk themes were based on the specific risks in our new Strategy and a PESTLE analysis of our operating environment. The nine themes are: l. Philanthropy 2. Grant making 3. Communications I profile raising 4. Income 5. Endowments linvestmentsl 6. Fraud & cyber crime 7. Procedures and compliance 8. Human Resources 9. Technology Once mitigations are in place. at the time of writing there were three risks which still score over 15. These related to recruiting and retaining the staff for philanthropy development: investment market fluctuations,. and HIWCF obtaining enough income to cover all its core costs. Through the quarterly reviews the Trustees ensure that all possible steps are being taken to mitigate the risks against achieving the ChariWs objectives. A full Risk Assessment Is completed annually or when a specific risk level rises. Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd Rem5ts of Commlttees: Finance, Investment and Risk Committee- the FI&R Committee oversees the administration of the financial and investment transactions and risk. This Committee devises and reviews policies that ensure the proper administration of the Foundation's finances and investments including but not limited to.. financial management including audit," proposing reserves policy and monitoring the reserves position accordingly,. overseeing investment performance.. development of efficient financial and investment administration 5VStems.' annual review with investment managers,. IT and data protection,. property management,. and overseeing the management of risk. Grants Committee- the Committee leads HIWCF'S strategy for its grant making. The Committee keep5 abreast of needs in the area of benefit, the funding environment and other relevant Issue5,' recommends grant making Strategy to the Board,. monitors the implementation of the strategy, KPIS and achievements,. asse55es the impact of the grant making programme5,' oversees the grant application procedure5 and policies including assessment and monitoring,. oversees grants made by grant advisory panels and ensure these are in line with policy and strategy. and acts as an appeal body as required under procedures established. The Grants Committee members also lead the panels for relevant region-wide grant programmes. People Committee- The People Committee supports the Board in its responsibilities for issues of HR, Remuneration and Nominations. It has delegated powers from the Board to carry out the following responsibilities: Review and develop the way in which HIWCF remunerates staff to ensure alignment with benchmarks, and proportionality.. review with the CEO the plans for the operational organisation of the staff and the employment HR policies, conditions and practices, including regular review of existing policies,. manage the recruitment of the CEO on behalf of the Board: manage the recruitment of new Trustees on behalf of the Board; consider and manage Succession planning for the Board and key senior management positions,. maintain a skills matrix for the Board and advise on any identified gaps,. consider and monitor 5taffin8 requirements necessary to ensure that ihey are appropriate to the delivery of the HIWCF Strategic goa15 and operational needs,. facilitate and support the CEO on key HR procedures in¢ludin8 8rievance, disciplinary and staff ¢han8e processes. Ph51anthropy & CommunScatlons Committee- this committee supports the Foundation's fundraising and communications effort5. 11 meets quarterly and reviews the Kpls for both areas and is sUPPOrted by the Development Committee, which is an informal committee made up of people who can support our networking and fundraising efforts around the region. The Philanthropy & Communications Committee ensures that the plans for building our endowmenl and to improve our recognition in the region are effective and on track,. monitors the KPIS including income expectations within the year- and supports any new fundraising opportunities that may arise. Portsmouth Advlsory Board- The Advisory Board oversees the activities of Hampshire and the Isle of Wight Community Foundation in the Portsmouth Local Authority Area. The Committee is responsible for management and direction of Portsmouth City Community Funds. Alderman Joe Davidson Funds, Montagu Neville Durnford and St Leo Cawthorn Memorial Trust Funds. Futcher Trust. Cornelius Centre Fund and Portsmouth Civic Funds. In managing these funds they ensure compliance with the original objects of the trusts.. provide strategic direction on other Portsmouth specific funds as required,. approve criteria for Flow- Through/Revenue funds,. review the effectiveness of grant making,. set the timetable for Advi50ry Board and Grant panel meetings.. address trends and gaps within the Portsmouth City grant making communities,. receive Annual Fund Statements for managed funds, and assist in attracting additional funds. Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd Isle of Wlght Commlttee- this Committee's purpose is four-fold= To advise the HIWCF Board on the strategy for grant making from HIWCF funds which are restricted solely to IOW causes.. to advise the HIWCF 8oard on the unique issues facin@ the IOW which could influence grant making policy- to convene a Grants Panel to agree appropriate distribution of the above funds on behalf of HIWCF,. to support the development of HIWCF'S philanthropy on the low. Main Board The 8oard is responsible for the overall direction of the Charity. policies, legal compliance and financial assurance. Operational responsibility 15 delegated to the Chief Executive Officer, who is assisted by a small staff team. The CEO meets regularly with the Chair, and allend5 all Board meeting5 and sub-committee meetings, as well as ad hoc meeting5 Wlth sub-committee Chair5 and other Trustees when operationally required. The Board 15 delighted that Hi5 Maje5ty'5 Lordlieutenant of Hampshire, Mr Nigel Atkin50n, has continued to be our President throughout 2024. Similarly, we are enormously appreciative that the Lord-Lieuten3nt of the Isle of Wight, Mrs Susie Sheldon, remains the p￿sIdent of the Isle of Wight Community Fund. We are enormously grateful for the support provided to the Foundation by both. None of the Trustees receive remuneration or other benefit from their work with the charity. We hold a register of interests for all Board members and staff. Any connections between a Trustee or staff member and a grantee or potential funding partner are fully disclosed. and Trustees land co-opted panel members) re required to recuse themselves from grant decision making where they have an interest in the grantee bodv. The Board of Trustees aims to set a level of 8rant expenditure from the endowed fund5 which provide5 a realistic level of grant making, consistent with the long-term maintenance of the value of the endowed funds, and subject to any conditions imposed by donors. Each year the Board reviews a level to be distributed in grants from endowment funds. For funds invested with Sarasin it was agreed io distribule 3.5% 01 the capital value of the fund as at 31 December 2023, with some minor exceptions where slightly more or less was agreed with fund holders for specific projects. For Commvnity First Fund5 invested with CCLA we are permitted to distribute the net income and any gains over and above RPI since the inception of the fund. The HIWCF Board has decided to spread the spending of any gains over the subsequent two years. For 2024 this gave an average distribution rate of 0.2% of the value of funds10.9% distributed in 20231. The average size of a grant was £4,597.3512023= £4.237.641. This reflects the ongoing influence of the larger grants made available through the Charles Burnett Memorial Fund lup to £25.0001. but also our need to increase the financial value of some support as costs have risen for community groups due to increases in the cost of living and inflationary pressures. Some grant programmes have increased the upper limit of grant size to £10,000 as a consequence. Staff and key management personnel During 2024 there was an average of 6.6 FTE staff, across eight staff positions.. and ten external grants assessors. Two staff members, the Chief Executive, and the Finance Manager, are designated as key management personnel. Pay reviews for all staff including key management personnel are conducted by the People Committee. Recommendations are made to the Finance, Investment & Risk Committee, and finally approved by the Board with effect from I" January. Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd Fund development and philanthropy Our fundraising and communications efforts are focused on our aspiration to double the size of our endowment funds by 2040. to £30 million. Our ability to generate a sustainable annual income for distribution to local voluntary and community groups is achieved by encouraging philanthropy. providing donor advised grant making services, and by building relationships with current and prospective donor5 and to widen recognition of our work and impact in the region. to further grow HIWCF'S grant making potential. Key to this approach is HIWCF'S commitment to help donors identify their philanthropic and charitable interests and to offer them opportunitie5 to make a local difference. Durin8 2024 we had a total of 130 funds under mana8ement12023- 1301, being 101 endowment funds12023: 1001, and 30 flow-through fvnd512023-301 providing donorswith servicestailored to their individual requirements and charitable interests. New funds established or delivered in 2024 were= Flow through= - Care Leavers Programme Ifunded by CCLA/LAMIT and Sovereign Network Group) SWEF Enterprise Grants SNG Cost of Living Grants Ifunded in 2023 but grants delivered mainly in 20241 A further two Flow through funds were substantially -topped up" or repeated= Vanquis Banking Group Imoneybarnl Social Impact Fund Young Island Lives Endowment.. One new endowment fund wa5 created - The Percy Freer Will Trust Fund. Flnanclal Revlew Restricted Funds Income in 2024 from flow-through funds totaled £266k12023: E426kl. This, together with distributions from endowment funds, helped u5 distribute É1,087k in grant512023: £1,481kl. Unrestricted Funds Unrestricted funds returned a deficit of £390k in 2024 for net income and investrnent12023 deficit £345kl before transfers. Core costs, which totaled £409k in 2024. continued to be well managed. Core income of £19k was lower than budget dve to reduced income from flow-through funds. Endowment Funds In 2024 one new endowment fund was opened. Although investment markets were volatile through 2024, our fixed asset investments made an unrealised gain of £l.366k. After income. grant distributions and transfers, the closing balance of endowment funds at 31 December 2024 was £15.8m compared to £15.2m at the end of 2023. Investment pollcy The development of an endowment fund providing sustainable long-term support for local communitie5 IS central to the role of HIWCF. The guiding objectives of the Finance, Investment and Risk Committee are to maximi5e long-term total returns (from income and capital growth), while providing annual income to help fund grant programmes. The committee is experienced in and tasked with monitoring risk and market volatility. Sarasin and Partners and CCLA were the primary investment managers during 2024, between them managing over 90% of our £15.8m endowment a55ets. Property endowed to HIWCF 15 approximately 6% of our endowmerbt a55et5 and net rental income is applied to grant making. One property wa5 501d durin8 the financial year and the second property was sold in the early part of 2025. io Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd Approximately £6.Sm of CCLA funds are manèged through a 'central' contract established by the Government and UKCF. being the Communities First Matched Challenge funds. The balance of the CCLA funds are managed directly by the Trustees. Investment Strategy and Risk Profile HIWCF'S policy is to invest funds to achieve a balance between capital growth and income using a medium risk investment strategy. Ethlcal Investment and Other Constraints The Board consider5 that HIWCF'S interests are best Served by seeking to obtain a sovnd financial return from a 5Ultably diverse portfolio of investments. The Trustees ask the investment managers to have due regard to not investin8 in companies whose activities could be detrimental to the objectives and aims of HIWCF,. these include tobacco, f0s511 fuel extraction, gambling and arms and munitions. Investment Performance Despite expected market variations, we are pleased the tot31 value of our funds was £16.Sm as at 31 December 20241£16.Im in 20231. Over the year our main funds recorded returns as follows.. funds invested with Sarasin showed a total return of +12.3%12023.. +8.3%) and funds invested with CCLA a total return of +5.7%12023.. +13.6%). Our benchmarks are ARC Steady Growth. and CPl+4%. These were +8.2% and +6.7% respectively for the year. The income yield on our invested funds was down on the previous year- Sarasin was 2.4%12023.' 3.3%1 and CCLA. 2.8%12023.' 3.1%). Reserves Pollcy At the end of 2024 the unrestricted reserves held by HIWCF were £325k, the equivalent of approx. 9 month5 operatin8 Costs. As part of the process of strategic planning, Trustees reviewed and agreed a new reserves policy in March 2025, a5 follows: e Trustees reviewed the chorit*s reserves policy in Morch 2025. HIWCF udopts o risk-bosed approoch to its reserves. The policy is bosed on oforword asse55ment of income (Jnd expenditure ond the wider economic environment in which we operote. We consider how much of our irtcome Ns secured, und the extent to which ourc05ts orefixed or vorioble. M05t of our 055ets jre re5trtcted endowmentfund5. The re5erve5 ore the unspent unre5trArtedfunds of the chority, referred to os the generolfurtd5 In thefinonciol Statements. Our reserves ore prlmorily held in cash. The Trustees ogree thot HIWCF mointoinsfree reserves.. To protect the continuity of the chorit￿5 core work To cover risks such os unforeseen expendittsre or unanticipoted loss of income To enL7ble the charity to respond to unexpected opportunities To support the investment into endowment growth in the strategic period2025_2027 The Trustees undertook a thorough exercise to quantify each area of risk which indicates that our policy requires us to maintain reserves within the ranBe of £236k to E352k, which compares favourably to our actual reserves of £325k at the end of 2024. li Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE ANDTHE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd Endowments and grant maklng The bulk of HIWCF'S expenditure is grants distribution. Funding for this is taken from investment returns and flow-through donations received for grant making. In 2024 HIWCF.. Raised donations and legacies of £279k1£609k in 20231 Generated investment income of £377k1£406k in 20231 Distributed a net amount of £l.Im in grants to charities and community group51£1.4m in 20231 Spent £408k12023.. £346kl of unrestricted funds mainly on grant making and raising funds. Trustees, ResponslbSlltles The Charity Trustees Iwho are also directors of Hampshire and the Isle of Wight Community Foundation for the purposes of Company Lawl are responsible for preparing the Trustees. Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the Charity Trustees to prepare financial statements for each financial year. which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure. of the charitable company for the financial year. In preparing these financial statements, the Trustees are required to.. Selert suitable èecounting policies and then apply them consistently; Observe the methods and principles in the Charitie5 SORP; Make judgments and estimates that are reasonable and prudent; State whether applicable U.K. accounting standards have been followed, sublect to any materSal departures disclosed and explained in the financial statements- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper a¢¢ounting 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. They are also responsible for safeguarding the assets of the charity and hence for 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 Eoverning preparation and dissemination of financial statements may differ from legislation in otherjurisdictiorbs. Auditor The auditor, Morris Crocker, was agreed to be appointed by the Board of Trustees in December 2023 and formallv appointed at the AGM in lune 2024. The firm is highly experienced in working with the not for profil sector in the region and was selected through a competitive process. 12 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OFWIGHT COMMUNITY FOUNDATION TRUSTEES, REPORT cont'd Statement of disclosure to auditor The Trustees who held office at the date of approval of this Report confirm that, so far as they are each aware. there is no relevant audit information of which the Company's auditor is not aware.. and each Trustee has taken all the steps that he or she ought to have taken as a Trustee to make him or herself aware of any relevant audit information and to establish that the Company's auditor was aware of that information. This report has been prepared in accordance with the special provisions relating to small companies within part 15 ofthe Companies Act 2￿6. By order of the Board of Trustees Approved bythe Trustees on 04 July 2025 Signed.. Amelia Riviere DL (Chairl (Margaret) Rachel Cooper (Hon. Treasurer) 13 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHT COMMUNITY FOUNDATION Auditorf5 Report Oplnlon We have audited the financial statements of Hèmpshrre ènd the Isle of Wight Community Foundation (the 'tharity'l for the year ended 31 December 2024 which comprise the Statefflent of Financial Activities, the Balance Sheet. the Statement of Cash Flows and the 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- give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources. for the year then ended,. have been properly prepared in accordance with United KinBdom Generally Accepted Accountin8 Prartice,, and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Stan(lard5 on Au(liting IUKI IISA5 IUKII and applicable law. Our responsibilities under those standards are further described in the Atjditor's responsibilities for the audit of the financial statements section of our report. We are independent of the harity in accordance with the ethical requirement5 that are relevant to our audit of the financial statement5 In the UK. includlng the FRC'S Ethlcal Standard. and we have fulfilled our oiher ethical responsibilltles In accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and approprlate to provlde a basis for our opinion. Concluslons relatlng to golng concem In auditing the financial statements. we have concluded that the Trustees, use of the golng concern basls 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 $18nificant doubt on the charitable company's ablllty 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 80ing concern are described in the relevant 5ertions of thi5 report. Other information The other information cornprises the information included in the annual report other th3n the financial statement5 and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statement5 doe5 not cover the other information and we do not expre55 any form of 355urance conclusion thereon. Our re5pon5ibility is to read the other information and. in doing 50. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the èudit, or otherwise appears to be materially mi55tated. If we identify such material incon515tencie5 or apparent material mi55tatement5. we are requlred to determlne whether this gives rise to a material misstatement in the financial statements themselves. 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. 14 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHT COMMUNITY FOUNDATION Opinions on other matters prescribed by the Companies Art 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Trustees, report. which includes the directors, report prepared for the purposes of company law. for the financial year for which the financial statements are prepared is con515tent with the financial statements,. and the director5, report included within the Tru5tees' report has been prepared in accordance with applicable legal requirements. Matters on whl¢h we are requlred to report by exception We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made.. or we have not received all the information and explanations we require for our audit,. or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees report and from the requirement to prepare a Strategic Report. Responslbllltles of trustees As explained more fully in the Statement of Trustees, Responsibilities, the Trustees, who are also the directors of the charity for the Purpose of company law. are responsible for the preparation of the financial statements and for bein8 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 misst3temeni, whether due to fraud or error. In prep3ring the financial statements, the Trustees are responslble for assesslng the charitable company's abllity to contlnue 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 charltable company or to cease operations, or have no realistic alternative but to do so. Audltorfs responslbllltles for the audlt of the financlal slatements 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 IUKI 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. lo delect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud. 15 detailed below. Extent to which the audit was Conside￿d capable of detectin8 irre8ularities, includin8 fraud Our approach to identifying and assessing the ri5k5 of material mi55taternent in respert of irregularities, including fraLJd and non-tompliance with laws and regulations, was as follows.. the engagement partner ensured that the engègement team collectively had the appropriate competence. capabilities and skills to identify or recognise non-compliance with pplitable laws and regulations- 15 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHT COMMUNITY FOUNDATION we identified the laws and regulations applicable to the company through discu5sion5 Wlth Trustees and other management. and from our knowledge and experience of the sector,. we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operation5 of the charitable companv, including the Cornpanie5 Art 2006, the Charities Act 2011, the Charities SORP, taxation legislation. data protection, anti-bribery, employment, environmental and health and safety legislation- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence,. and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charitable companvs financial statements to material misstatement. including obtaining an understanding of how fraud might occur, by.. making enquiries of management as to where they considered there was susceptibility to fraud. their knowledge of actual. suspected and alleged fraud.. and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. Audit response to risks identified To address the risk of fraud through management bias and override of Controls, we: performed analytical procedures to identify any unusual or unexpected relationshlps; reviewed all transactions listed,. assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias- and nvestigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non TO NEfcASH FLOWFROM OPERATrNG AcnviTIÉS 2023 S PEr thEStatemEnt of Finanrialkimties 413,783 143,398 Adju5tmentsfor'.DepreciatiOD chargE5 IGalnllbsseson fixed assets IrNesiN*nts IGalnl/kn55eson iThve5tmerrt propertie5 Inteiesi received Dividehds recewed Income attribut3ble to endowment Incor(* Irom Investment properties Decrease In debtor5 Decrease In cr£ditors 18,87S 11,365S261 112,723 130,7441 1332.5(M) I371￿65) I13￿89) 29,15S 10.705 7,86S I954,7￿> 115,4881 1368.4241 1618,5361 199,1931 13.943 Net cash used In o￿latIOnS 11,549A931 11,720.7331 ANALYSIS OF CHANGES IN NEfFUNDS NetCa5h Cash it bank A 1.1.24 911A93 Cash FkTr%y At 31.12.24 474,782 21 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHT COMMUNITY FOUNDATION Accounting Policies The following accounting policies have been applied consistently in dealing with items that are considered material in relation to the financial ststements. A¢¢ounting Convèntiort The financial statements have been p￿pared under the historical cost convention and in accordance with the 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 IFRS1021 leffective l January 20191- (Charities SORPIFRS10211, the Financial Reporting. Standard applicable in the UK and Republic of Ireland IFRS1021 and the Companies Act 21x16. The accounts are prepared in sterling. which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £1. Hampshire and Isle of Wight Community Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accountin8 policy notelsl. Preparatlon of the accounts on a golng coniern basls The organisation ha5 financial reserves held in investments. logelher with long-lerm endowments provided by donors. The organi5ation has cash at bank of £474.782 at year-end and as a consequence the Trustees believe that the charity is well placed to manage its business risks successfully despite the current uncertain economic ouilook. The Trustees have a reasonable expectation that the organisation will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt a going concern basis in preparing these financial statements. Incomln8 Resources Income and debt is recognised when the Charity has entitlement to the funds, any performance conditions attached to the itemlsl of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from trust transfers and new endowments is recognised when funds are received. Income from government and other grants. whether'capital, grants or 'revenue' grants. is recognised when the charity has entitlement to the funds. any performance conditions attached to the grants have been met. it is probable that the income will be received and the amount can be measured reliably and is not deferred. 22 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHT COMMUNITY FOUNDATION Accounting Policies fcontinuedj Donated facilities are recogni5ed on the basis of the value of the gift to the tharity, which is the amount the charity would have been willing to pay to obtain fatilities of equivalent economic benefit on the open market,. a corresponding amount is then recognise(l in expenditure in the period of receipt. Investment income is recorded in the financial ststements on the accruals basis and is allocated to individual endowment funds at the end of each quarter on the basis of the fund value at the end of the previous quarter. Inte￿$t earned on current accounts is allocated to core funds. Flow-through funds receive no interest except where the fund is required to be held in a separate account. Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricled funds can only be used for the particular restricted Erant making purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a particular restrlcted purpose. The unrestricted fund makes a charBe on the other funds as follows.. Flow-through funds- as agreed with the donor Endowment funds- 1.5% of the fvnd balance per annum Expendlture and Irrecoverable VAT Expenditure and liability is recognised once there is a legal or constructive obligation to make a payment to a third party, il is probable that the seltlemenl will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the followin8 activity headings.. Costs of raising funds comprise the staff time of key members of staff responsible for business development namely the CEO. Isle of Wight Administrator with support from the Finance Manager and the Marketing Officer. alon8 Wlth directly attributable support costs and a share of overheads proportionale the percentage of staff costs- Expenditure on charitable activities includes all Erants paid and other costs directly associated with grant making. including donor and fund-holder services and marketing and their associated support costs.. other expendilure repre5en15 those items not falling into any other heading. Irrecoverable VAT is charged at cost against ihe activity for which ihe expenditure was incurred. Allocation of support Costs Support costs are those functions that assist the work of the charity but do not directly undertake fundraising or charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's objects. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 5. 23 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHT COMMUNITY FOUNDATION Payment of8rants Grants payable are payments made to third parties in the furtherance of the charitsble objectives of the charity. Single or mulii-year grants are accounted for when the recipient has a reasonable Èxpèctation that they will receive a grant and the trustees have agreed to pay the grant without condition. Grants are paid as soon as they fall due. Grants which are payable out of future income and where the beneficiaries are awa￿ they are conditional uwn that income being received by the charity, are not accrued in advance of that income being received, so that the expenditure is matched with the income as it arises. Details of any such future commitments are set out in the notes as contingent liabilities. Flxed Assets- Tanglble & Intanglble Assets costin@ more than £3.000 are capitalised at cost. Provision for depreciation of fixed assets held for use by the charity is made at annual rates calculated to spread the cost of each asset evenlv over its useful expected life. The depreciation rates are.. Cornputer equipment Furniture. fixtures and equipment CRM system over 3 years over 3 to 10 years over 5 years Fixed Asset Investments Investments are stated ai market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arisin8 from disposals throughout the year and revaluation at the year end. Flnancial Instruments The charity only has financial assets and financial liabilities of 3 kind that qualify as basic flnanclal instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Pen$lon$ The charity contribules to defined contribution pension schemes of individual staff members with more than 3 months, continuous service. unless the staff member chooses to opt-out of the arrangement. All eligible staff have been written to concerning automatic enrolment and been offered contributions into a NEST company scheme. continuing with existing arrangements or opting out. Pension costs are charged to the Statement of Financial Activities as incurred. 24 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHT COMMUNITY FOUNDATION HAMPSHIRE ANDTHEISIE OFVII¢>IT COMMUNITYFOUNDATION t40TES TOTHE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED31 DECEMBER 2024 Z DONATIOMS AND LEGACIE5 20Z4 2023 Grants receivaNe. wfts and donatior Government Grant irKome 279,523 65,920 543.240 609,160 279,523 3 INVESTMENT INCOME Incorne Irom Investment prO￿rtieS Dithdends recelved Interest received 13,489 332,5 30,744 376 733 22,256 368,424 15,488 406,168 All Snvestment Income 55 derived from assets held In the UK 4 RAISING FUNDS Ratslng donallons and *acle5 2024 2023 82,239 267 63,638 530 Recruitment costs Travel, trainin8and subsistence Marketin8tosts Grant WO8ramme costs Ger*ral office costs Bank ch8r8es 417 67 1,549 2,731 1,406 3,776 Z45 73￿75 760 83,750 Investmeni mana8emeM tos Portfolio management IIA741 Total expen(Iiture on raisiryfvrK15 83,750 72,001 25 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHT COMMUNITY FOUNDATION HAMPSHIREANOTrflSLEOF WIIGHfcoMMUNITrFCiINOATION NOTESTOThE FINAPXIAL STATEME14TS. FC*THE IEAR ENOE031 DECEM8ER2024 5 CHa￿TABLE ACllVtrYc05T5 6rant*urOinBof gJrwrtC05rs acityitieslsee 15ee rhoie71 Jte6 fjrartmaking IW.014 324.912 1.411,g26 6 GRANTS PAYA8LE 2024 1023 Grant makl 1.087.014 1.548,380 IMPACTTHEME FIoud£hlThg C¢>mmthkles HÈahh andWÈlI￿lng 2024 17% 41X L7% 22% 1.5% 1.5% 2023 29% 26% 17% 25% 3% 2% Povertv disathJntJ8e The en¥lronment CrfnwaTrJ 5aletv 7 SIIPPORTCC6TS rm•m*hc• T•t•ls Giant makir 284.165 40.647 324,glZ Supportccst5 Inc1￿￿nIhe3bo¥eèrea5l0Ikn￿'. 2025 5tafl co5t51con5￿IarI costs Recrultrnent Costs Travel.tralnin8andsut61steKe 203.444 622 12MI 2.173 38.3 7.196 1.236 3.613 Geheralolli¢e costs Giani Pro8r?rrff* Cv515 Bankcharys Arnort15ailonol Irra￿tIef￿Xedèj3eIS 8,809 3,279 571 Y,865 ]8￿75 284,265 Gov•mant*Costs 2025 Staff 12023. £2671 10 STAFF COSTS 2024 2023 salar￿sand ways 266,763 2L2.L28 Key M•n88omehtremynev¥Jovth Key managemem per50nrel is1T£￿mu￿I1YF¢¢.24 Vniesiri¢ted 457A41 32S,365 Endo*Th•nt Funds LlTrked Charft nc•4t 3111Z12024 Aldttrr4nJoÈ DivKtso tivl¢FufKIPortSWvthCaptèlCI4thyh￿l 11681 L6.415 989.832 S￿.29$ oThtawe Ne￿I￿rk￿￿10rOSI1eO ca￿￿or1 565.7Y) 65.357 16.913 633,252 FIrt(￿r5￿hOOlFOl￿•l￿n othpiFund•>£ir 8AT ErdOwry￿￿t Fund glalTavÈcawal Fur 00115 Campbdl VivldFw*s FoidSouth4whFuThl I5￿01W18*1Co￿￿r￿ytyFlryY PerfonGrJsyoot5F L741 IZWJ71 63,545 77 525A38 6￿.970 523.120 584h34 50L?11 51L618 .104 i£J86 IW3 14.105 33.C69 21.866 18S.5321 ,648 549.9D7 589.71S 113.$531 121.3S61 11&6241 12&9811 650.688 14.679 40.103 40.963 550,014 JJJJJ 927.3Cffj 958.￿] 513.P49 449.781 323 1S.238.793 J9AJ7 SB A64 877.064 956,624 554721 469.2S7 ChaTlos 8Ur￿lI ￿M￿n￿lF￿nd 2Di.586 16.520 28,403 Other EThJoMment Fufv 371th4 11.205.WI 1.407.YI R•thtrd Funds UTrk•d 3111212024 Aldqrminjop Davktsonllirthed£baiityl Civic F￿r￿pOrt1¢f¥Jul1 R*%*rthFty MOrta8u NeVIl￿DuM1o￿StL￿￿ C•**hJnF 47$ 25.387 3.18# 12WJI Aowihm¥h contrxts ACE MoTrÈv￿rn 6,269 8,250 37.186 33X 129,2361 la3￿501 SWEF IU75 7.13D 402.618 321.181 1%1.tt61 945,159 455m8 IIINX9 11.th7M141 945.159 427.592 31 Docusign Envelope ID.. E7AAAF351CCNA02471￿3C3Fl3523E3E HAMPSHIRE AND THE ISLE OF WIGHT COMMUNITY FOUNDATION HAMPSMIRE AND THE ISLE OF COMMUNITY FOU14DATION NOTES TO THE FINANCIAL STATEMENTS- tontlnued FOR THE YEAR ENDED 31 OECEM8ER 1024 19 EMPLOYEE BENEFIT 08LIGATIONS The Charity cOntrib￿@S to iNJivithJal stairs defined contriixjtion St￿Me$. The contnbutions due forthe yÈ3r were £10,2￿12023=E1o,31II. At ltr￿ year e￿1 there wa5a creditQTof El.52512023..E3.2421 20 GRANT COMMITMENTS There are no contingent liabilities in respect of future 8rant commitments in 202412023..£NILI 21 RELATED PARTY DISCLOSURES There were M related party transaction5 lor the year e￿ed 31 December 2024 22 ULTIMATE CONTROLLING PARTY The charitable company is not U￿je¥ control ol a￿thEr enlityor aryone iTrai¥idual 32