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← International Tree Foundation

2023-12-31-accounts

Annual Report 2023 '.Treè Fo FniJhAod Iq?>p-.

Contents

The International Tree Foundation works every day to plant and grow trees, restore and conserve forests and strengthen community and ecosystem resilience.

© International Tree Foundation 2024 Internationaltreefoundation.org Charity number 1106269 The Old Music Hall, 106-108 Cowley Road, Oxford, OX4 1JE

1,000,846 wonderful trees planted and growing

The International Tree Foundation exists to plant, protect and promote the silent work that trees do to help us all. It’s an endeavour we embarked on over 100 years ago. And is even more vital today than it was a century ago.

883

crucial hectares of forest conserved or restored

4,155 participants increased household income through our projects

18.6%

of leadership roles in our partner organisations held by women

13,579 young people learned about our environment and conservation

49 projects increased vital biodiversity or ecosystem services

379 brilliant teachers and youth workers trained

1,286 staff and generous volunteers received training

18,423

people reached through awareness campaigns

1,744

community organisations increased forestry and agroforestry capacity

2,255 hardworking smallholder farmers increased their yield

10,587 remarkable people participated in our projects

“These trees are one year old now and they look very healthy. We’ve taken great care of them together with farmers. And we will continue to take care of them so that they continue to grow well.”

Josephine Wangari, Kenya

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Reference and administrative details

Objectives

The International Tree Foundation’s charitable objectives are:

Governing document: Memorandum & Articles of Association

Patron: HRH King Charles III

Board of Trustees: Mr T Adlam Mr S Barber Mr JI Drori (appointed 19th September 2023) Mr B Farmer

Ms M Grecna (resigned 8th June 2023) Mr JW Kamau (appointed 19th September 2023) Mr J Kimani

Ms A Lowndes Ms C MacQueen Ms M McBrien (resigned 8th June 2023) Ms M Reru

Prof K Schreckenberg Dr Stephen Vickers Ms R Wanyoike

Chief Executive Officer: James Whitehead

Registered office: The Old Music Hall, 106—108 Cowley Road, Oxford, OX4 1JE

Bankers: CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ

Independent Auditor: Ben Hayes FCA, Wenn Townsend, 30 St. Giles, Oxford, OX1 3LE

Charity number: 1106269 Company number: 5219549

  1. To promote the conservation, protection and improvement of the physical and natural environment, in particular by:

1.1 planting and caring for trees and encouraging the planting of and caring for trees globally; and

1.2 fostering an appreciation of trees and the amenity and ecological value of tree cover

  1. To advance education for the public benefit in trees and their habitats

  2. To promote the sciences of silviculture, arboriculture, agroforestry and associated fields for the public benefit.

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An introduction from our Chair

Dr Stephen Vickers

As the climate crisis intensifies, so do its effects. 2023 has been a year of record-breaking temperatures and catastrophes. And so our mission to plant trees and restore forests alongside local communities becomes ever more urgent.

International Tree Foundation’s approach is distinctive in that we plant trees and restore forests in places where they can benefit communities that need help most urgently. These are also the places that have the greatest need for the things that trees bring: water, food, fuel, medicine and shelter.

We were founded in East Africa and it is a region we know well. A region that suffers disproportionately from the effects of climate change, one which has a threatened, biodiverse ecosystem, and where thousands of communities depend on trees and forests for their very existence. It is with these communities in East Africa where the benefits of tree planting can be felt most quickly.

I am proud of what we have achieved this year in East Africa and beyond – the commitment of everyone in planting and protecting trees, and ensuring they thrive, has been outstanding and the impact is already being deeply felt.

Thank you for joining with us in championing a sustainable approach that unlocks the multiple benefits of trees for people and planet.

Stephen Vickers Chair of the Board

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Looking back on 2023 James Whitehead, CEO

2023 was the warmest calendar year since records began. In the coming years, we will be facing more prolonged and serious weather events. But the science is clear, the more that is done to address the climate crisis, and the earlier that happens, the greater the chance we have of averting the worst of the likely consequences. And ITF’s work is urgently addressing the cause of the climate and biodiversity crisis.

Last year together we planted more than a million trees – an astonishing number that equates to more than 1,250 football pitches! It represents a huge increase on 2022. These were planted due to the generosity of all those who supported our work last year, for which we are so grateful, and by the determination and hard work of local communities to re-shape the land around them.

In order to be as impactful as possible, in Africa we have strategically focused our energy on hotspots – areas of high ecological sensitivity in need of restoration where local communities are at the sharp edge in terms of feeling the effects of the climate crisis.

Behind each tree planted there is a story. From its journey as a seed falling from the ‘mother’ tree to a community tree nursery. From there to the farm of a small-scale farmer or to a mountainside that has been set aside for forest restoration. It is the story of how that seed has been nurtured and

continues to grow under the sun and rain, establishing itself steadily in the soil and how, in time, it yields fruit, shelter or forest canopy.

At ITF we are passionate about trees as you can see in this annual report. We bring deep expertise on effective restoration from our committed team on the ground who spent the year working closely with local communities, trekking to remote locations and making sure that every tree is nurtured and has the best chance to survive and thrive.

But more than that, we also assisted communities to realise the multiple benefits of effective natural resource management. Our expertise, combined with the wisdom and knowledge of local people, has resulted in significant improvements in people’s livelihoods. We have brought in forest-related income generating activities like bee-keeping. We’ve worked with women’s groups on the benefits that women and girls can gain from effective environmental management. Streams run clearer and more reliably as a direct result of the work that we have achieved together and biodiversity has returned.

We’re so grateful to you for making this possible.

“All community members are busy with the forest restoration work. People are now having healthy and clean lifestyles. Good environment is a solution to many life problems.”

Judy Kendi, Kenya

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Why plant trees?

Trees are powerful and when they’re planted properly, they transform landscapes and lives.

Forest services

Thousands of communities depend on forests for food, medicine and firewood. Planting trees improves access to these vital resources and protects ancient woodlands against deforestation.

Forest restoration

Reforesting or protecting existing forests stops soil erosion, allows biodiversity to flourish and makes the land more resilient to the effects of climate change.

Livelihoods

Teaching people to grow trees and create their own nurseries provides a new income source while the trees themselves produce nuts, fruit and other resources which can be sold.

Biodiversity

Planting native trees helps restore ecosystems and allows biodiversity, from tiny microbes and fungi to mammals and birds, to flourish.

Gender inclusion

In many of the communities where we work, women have little say or agency over land but they have the burden of tending to it. Through education and training, forest restoration can play a significant role in advancing gender justice.

Agroforestry

When trees are planted on farms, they improve the soil which leads to higher yields. Trees also give shelter and food for livestock and wildlife.

Carbon sequestration

Trees capture and store carbon, helping to combat the effects of climate change.

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Our impact across Africa Wycliffe Matika, Africa Programme Manager

It gives me great joy to share key reflections on what has been a phenomenal tree-planting year.

Our tree planting work in Africa continues to create a green renaissance, inspire hope and transform livelihoods and vital landscapes for communities. The hallmarks of this work are: leaving no one behind, reaching the furthest first, building community resilience and fostering environmental stewardship.

In 2023, significant progress was made through our Africa Programme as we prioritised our focus on the three main threats facing the continent’s landscapes, namely climate change, biodiversity loss and environmental degradation.

We were extremely pleased to welcome four new staff members to the team here in Africa. Their support is invaluable to the growth, effectiveness and impact of our programmes.

In 2023, we mobilised 40 restoration partners to implement 14 sustainable community tree planting projects in vital landscapes and biodiverse hotspots across East Africa. Together, we planted over 800,000 trees restoring 800 hectares of land. With an 85% survival rate across the board,

the Africa Programme continues to deliver transformational change for people, nature, and climate resilience.

We’ve also established 28 community-based model tree nurseries which are helping to protect biodiversity by propagating and growing 22 native species that are threatened with extinction.

To enhance the credibility of our data, we strengthened our GIS monitoring and remote sensing

capabilities and aligned our Tree Monitoring Protocols with Plant for the Planet’s ‘Standards for Reforestation within Restoration projects’. Two members of the Africa team have qualified as drone pilots. And through the launch of the ITF Tree App we have increased our capacity to map and measure the progress of our community-led tree planting projects. All of this will go a long way in tracking and showcasing community efforts to restore and protect nature.

I also want to give special recognition of three new projects launched in 2023 that will mobilise local communities to restore fragile landscapes across Uganda’s Rwenzori Mountains. These transformational tree planting projects have been made possible thanks to support from the State of Guernsey’s Overseas Aid & Development Commission, Tree Sisters and Ecologi.

In 2024, we will continue to focus on being a highly trustworthy intermediary and improving programme quality, particularly by monitoring tree survival rates and outcomes. We will also maintain and strengthen our relationship with local partners.

As an African proverb says ‘’a single bracelet does not jingle’’. It takes a partnership and networking efforts to accomplish things. My heartfelt gratitude goes to our supporters and partners. You make us jingle.

“I have seen the forest destroyed since I was a little girl and this made me unhappy. I have gained financially from the project because we have sold the seedlings from our nurseries and the tree planting activities have generated income.”

Jemimah Muthoni, Kenya

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----- Start of picture text -----
25,500 trees planted 7
with We the Trees
43,573 trees planted
8
with Kitui Development
Centre
16,000 trees planted
9
with Rural Initiatives
Development
Programme
75,000 trees planted
10
with Meru Forest
Conservation and
Protection Group
35,000 trees planted
with Globe Gone Green 11
300,200 trees
12
planted with Wezesha
Community-Based
Organization
47,990 trees planted
13
with Mount Kenya Trust
----- End of picture text -----

----- Start of picture text -----
1 240,032 trees planted
with Women in Water
and Natural Resources
Conservation
57,271 trees planted
2
with Irangi Forest
Fireguard Group
15,000 trees planted
3
with Kipsaina
Cranes and Wetland
Conservation Group
10,200 trees
4 4
planted with Arable
Based Community
Organization
3
27,714 trees planted
5
with Tharaka Children
and Women Welfare
Programme 1 13
12 10
26,028 trees planted 5
6 2
with Alpha Women 11
Empowerment Initiative 9
8
7
6
----- End of picture text -----

Uganda

Kenya

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Uganda

Restoring fragile ecosystems

In Kasese District, Western Uganda, decades of unsustainable farming practices and deforestation have devastated the ecosystem. But today, women like Mary Biira are planting trees to reverse the damage, protecting against soil erosion and landslides that plague the region.

Thanks to this project with Alpha Women Empowerment Initiative, nearly 500 women are planting native trees along riverbanks and on fragile mountainsides. They are also planting fruit trees like mango and avocado to replenish their farms. And through learning skills in seed propagation they have been able to supplement their income and gain financial independence.

“The knowledge and skill about nursery bed, tree planting and management has enabled me to participate in managing the tree seedlings being raised in our community nursery,” says Mary.

Since taking part in the training, Mary has taught six more women the value of tree planting and sustainable practices, helping to spread the knowledge and skills that are crucial for long-term restoration. “I am feeling happy and now having hope for a good environment and income in the near future,” says Mary.

Protecting forests

Most of the communities that we work with depend on firewood to make a meal. And this firewood is a significant cause of deforestation.

But thanks to your support, people like Benson Asiimwe and Alice Muhindo are tackling deforestation and building sustainable livelihoods, one fuelefficient cooking stove at a time!

Fuel-efficient stoves require less firewood and produce less smoke. This means that they are safer, healthier and more sustainable than traditional three-stone stoves.

And thanks to hands-on training by our partner, Agri Evolve, young people in Kasese District, Western Uganda constructed over 350 fuel-efficient stoves last year. With these artisanal skills, they’re earning an income and protecting forests.

“I never went further in formal education due to the status of my disability. And most of the time, I do not get opportunities to participate in the income generating activities.” says Benson. “Even if the project ends, I have the skill so I will continue looking for clients because the stoves are good, and people have liked them so much.”

“When I heard about the energy saving stoves, I was happy and very excited to get one. I can now prepare food using the branches from my trees without cutting down the whole tree.”

Alice Muhindo, Uganda

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Our impact across Kenya Mercy Kimani, Kenya Programme Manager

This year has been great! Coming from long periods of drought last year, Kenya has experienced plenty of rains across the country. This has made tree growing very successful, with over 85% survival rates being reported across projects. It has also been a great year to evaluate the planting projects done in 2022 and to see forests form in sites that were previously bare. This has been immensely rewarding and encouraging as we push on with vital landscape restoration work.

Kenya targets to grow 15 billion trees in the next 10 years. At ITF have been proudly rated as one of the leading organisations in landscape restoration, increasing the demand from communities and institutions seeking ITF support in their restoration efforts.

During the year, we carried out a joint monitoring and evaluation exercise with Kenya Forest Service to evaluate the success of the work done in 2020–22. We’re proud to report that the trees survival rate is 85%. And community support and impacts were very well rated.

Witnessing and listening to testimonials from the people impacted by the projects has been the fuel that keeps the work burning. As part of our support to the community, we introduced the farmers to avocado processing companies to sell their avocados, securing a market for the product which will give better returns than selling to middle-men. There’s

also an increase in the demand for agroforestry projects and fruit and nut trees. This is a positive sign, showing communities living in the forest buffers are now shifting their focus away from the forest for their source of income. Instead, they are now establishing their own farm food forests. The shift in mindset will help save the forest trees.

This year, we also piloted the installation of eco-friendly cooking stoves in Meru County. This for me was the key highlight to close the year. Fifteen volunteers received training and installed 500 eco-friendly cooking stoves in kitchens across the county. The excitement and joy were palpable. The eco-stoves will ease pressure on local forests as they require very little firewood. They also reduce the time spent in the kitchen and collecting firewood, freeing up time for women and girls.

We have testimonials of women who have diversified their income through taking part in our community-led projects. A lady in Dundori is now the main supplier of bread and buns for breakfast within Dundori village. A business she started from proceeds earned from the project. Others have roofed their houses, bought goats, chickens and also helped pay school fees. The women are more empowered and appreciated, raising their morale, outlook and wellbeing.

“I participated in tree planting exercise and earned some income which I paid school fees for my children and now being a scout, I earn monthly allowance.”

Esther Muli, Kenya

In conclusion, there has been a remarkable increase in the number of livelihoods impacted, community ownership and the number of trees planted and their survival rates.

It has been a busy but very fulfilling year. 2024 looks brighter and promising. We are expanding and reaching new landscapes with diverse interesting communities of West Pokot and Nyandarua counties. I can hardly wait to spread the positive impact to these new landscapes and communities.

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Kenya

Planting native trees

Climate change and the increasing demand for firewood have taken a devastating toll on Mount Kenya’s precious forests. Vast areas of forest have been cleared. And invasive species like lantana camara have taken root, strangling indigenous trees like the East African yellowood.

But thanks to your support, local communities are removing invasive species and planting native and threatened trees.

Working alongside our partner, Irangi Forest Fireguard and Control Group and the Kenya Forest Service, over 50,000 trees were planted in Irangi and Maranga Forests last year alone. And 5,000 fruit trees were planted in local farms and schools, boasting an impressive, 90% survival rate.

But the impact goes beyond trees. Over 200 community members, half of them women, have boosted their income.

For Muchangi Muthoni, a resident of Karimari who was introduced to the initiative by his tree-loving aunt, the project has been life-changing. “Through the group activities, I have been able to learn so much about trees and their importance to the environment,” says Muthoni.

“We are also able to raise income from planting the trees and participating in the tree planting projects. ITF has really helped us through the Irangi Fireguard Group and as a community we are hopeful for a better future. I feel very happy to be part of the team that is restoring Mount Kenya and the income has helped with school fees payments. I am thankful.”

Ensuring food security

“We thank God for enabling us to plant so many trees,” says Josephine Wangari. Josephine is one of the thousands of people we’re working with in Nakuru County, to restore and protect Kenya’s Dundori Forest.

Dundori Forest is a vital ecosystem that helps to feed rainwater into three major lakes. But climate change and rampant deforestation has taken its toll. Access to clean water is declining and food insecurity is on the rise, affecting millions of people.

But thanks to the support of Ecologi and in partnership with WEZESHA Community Based Organisation, over 300,000 native tree species like African cherry and wild olive have been planted within Dundori Forest since 2021.

And tree scouts like Josephine are the lifeline of the project. By watering newly planted trees and checking for signs of pests and diseases, they ensure that trees planted will survive and thrive.

“These trees are one year old now, and they look very healthy,” says Josephine. “We’ve taken great care of them together with farmers. And we will continue to take care of them so that they continue to grow well. Come next year, the forest will come back!”

“Tree planting has given me a name in society and I feel much more confident because of it.”

Melisa Wamalwa, Kenya

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Our impact across the UK Sam Pearce, UK Programme Manager

It has been a fantastic year for ITF’s UK Programme. Within our core UK Community Tree Planting programme, we have been able to grow our support to partners right across the country, scaling up our presence in many areas and supporting the planting of over 60,000 trees across 44 projects. This has involved a significant increase in planting in Scotland, where community buyouts are becoming very popular.

While we always enjoy getting to know new partners around the country, it is particularly gratifying to be expanding our existing partnerships with community groups. One example is Community Trees MK in Milton Keynes, who have just been awarded their third ITF grant, based around planting copses and hedges in city parks and green spaces. It’s inspiring to see them gradually growing their own capacity to take on larger and more ambitious projects. We look forward to working with them on into the future.

Alongside this work, we have been expanding into adjacent areas. With generous support from the Adrian Swire Charitable Trust, April 2023 saw the launch of Healing in the Outdoors, a partnership with Refugee Resource.

“When I am here, I don’t feel alone.”

Healing in the Outdoors participant, Oxford

Together we have engaged local asylum seekers and refugees in local green spaces and nature activities. Wellbeing and mental health has long been a part of ITF’s offering in the

UK and it is fantastic to return to this pillar of our work.

ITF community nursery is now into its second year, and it has been a fantastic process watching our first batch of tree seedlings take root and grow. The first of these will now be planted out in projects around Oxfordshire during the 2023-24 season, while the rest will spend another year maturing in the beds.

ITF has broadened its work with strategic corporate partners in the past 12 months. April saw us work with PayPal on events for their employees and featured as one of their nominated ‘checkout charities’.

In addition, we have expanded the scope of our work with UPS and have been undertaking an ambitious project to plant 30,000 trees across five European countries, including the UK, Poland, Germany, Spain and Turkey.

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----- Start of picture text -----
6,339 trees planted
5,000 trees 13
1 with Creating Natures
planted with Sleat
Corridors
Community Trust
1,000 trees planted
2 5,000 Uigshader with Berkshire 14
Living Forest Project
College of Agriculture
12,805 trees planted
3 3,210 trees planted
with Gone West, with the Wildlife Aid 15
Scotland
Foundation
2
1,200 trees planted
4 with Riccall Lands 12,868 trees planted 16
1 with Gone West,
Charity
7 3 England
80 trees planted
5 with Manchester 150 trees planted Painters Forstal 17
Urban Forest
Community
3 Association
2,000 trees planted
6 3
with Little Coates
1,860 trees planted
Nature Reserve 18
with Trees for Farms
418 trees planted
7 2,760 trees planted
with Eglinton Primary 19
with the Magdalen
School
Environmental Trust
850 trees planted 4
8 with Bickershaw 8 220 trees planted 20
5 with YMCA Plymouth
Allotment Group 6
798 trees planted
9
with Community 16
Trees MK 13
11
12 9
1,400 trees planted 17 10
10
with Banbury Trees
1,100 trees planted
11 with Asthall Manor 14 15 17
Kitchen Garden 18
19
2,750 trees planted
12 with Nature and
20
Nurture Activities UK
----- End of picture text -----

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UK

Nurturing nature

Spearheaded by Nature and Nurture Activities, the Burford Tree Initiative is planting trees and hedges to help the loss of biodiversity in the area.

“We are in a climate crisis and also a biodiversity crisis”, says Lucy Staveley, founder of Nature and Nurture Activities. “This part of West Oxfordshire, is particularly depleted of trees and hedgerows and so, I wanted to do everything I could to try and restore the landscape and connect up the landscape for nature.”

From school children, local businesses and seasoned tree planters, hundreds of volunteers from all walks of life are coming together to plant trees and make a difference for their local landscape.

Working with local landowners like the Blue Cross, they planted over 2,000 native tree species like oak, alder and crab apples in 2023. These trees are creating wildlife corridors and shade for horses, helping to capture run-off water and replanting hedgerows that were cleared in the 1970s.

In total, the community has planted well over 15,000 trees. And with proper care, these trees will soon be providing much needed food and shelter for local birds and animals.

“I love being involved with the tree and hedging planting projects. It’s so exciting to see the difference you can make, meet new people and help the community around where I live.”

Tina Sacks, Cambridgeshire

Creating woodland

Middleton Wood Meadow is the first new wood in Milton Keynes for 30 years. And the first ever to have been planted by the community. Thanks to a grant from ITF, Community Trees MK planted 1,060 beautiful native trees. Half of the trees were planted during community tree planting days and half were planted by local school children during tree planting week.

“We have planted a total of 2,100 trees across the city in the last few months. That takes us to a total of 6,500 trees in the last three years since our inception,” says Greg Fairley, Co-Founder Community Trees MK. “An achievement of which we are rightly proud and which we could not have done without the help and support of ITF, for which we are most grateful.”

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Our future plans

Next year we anticipate some further growth as well as consolidation. We will maintain a focus on both quantity and quality of our work in the coming three years. This requires appropriate board oversight and support, combined with responsible, dynamic leadership from a high-performing, cohesive and well-coordinated management team.

The ITF ‘’2022 and beyond strategy’’ remains the overall anchor and yardstick of our work in 2024. It lays the firm foundation, road map, and vision of our future work.

While we have made good progress on improving the quality of our work (monitoring, community engagement, gender, tree survival fund, multiple impact approach, etc), we still need to consolidate and deeply embed these in 2024. Specific efforts will be made to reinvigorate our GIS, remote sensing capabilities, and tree monitoring protocols. We will continue to strengthen the depth of our support to local partners. We will also increase our indirect influence on relevant issues such as carbon offsets. We will build wider networks and coalitions with other expert organisations to learn, to share and to raise our profile.

Geographically we will have strong programmes in Kenya, Uganda, Tanzania, the UK and Ireland. A vibrant, thriving, and high-performing team is at the heart of this combined with maintaining strong relations with all those who support our work. We will continue to explore the breadth of roles that we can play as both a ‘Foundation’ and ‘International NGO’ as we evolve our work to plant, protect, and promote trees with communities.

“We planted 2,021 trees. And I’m so happy because on top of the trees, I’ve been able to grow food.”

Margaret Nabwayo, Kenya

With thanks to

We’re so grateful to all our supporters, without you this remarkable work would not be possible.

A special thank you to Ecologi for supporting restoration in both Africa and the UK, Trees Sisters for supporting our gender inclusion work, One Tree Planted for funding 112,787 trees. Tree Nation for championing local tree planting community groups in the UK, States of Guernsey Overseas Aid for supporting reforestation and inclusion, PayPal for choosing us as their charity of the month and UPS Foundation for planting 30,000 trees around Europe.

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Financial review

Performance

The organisation’s income more than doubled in 2023. Total income was £1,917,752 (2022: £885,737). Total funds at the year-end were £578,271 (2022: £588,879) of which unrestricted reserves increased to £332,208 (2022: £229,868).

Notes on income and expenditure

ITF has a varied funding stream, but receives a significant proportion from grant income. Grant income was received from several sources and formed 87% of total income. Other sources of funding came from individual giving (9%), corporate giving (3%) and other sources (1%).

ITF received a lower level of funding from legacies than in past years. We are extremely grateful to all supporters who kindly remember us in their wills.

The proportion of total expenditure that was spent on direct charitable activity was 94% (2022: 95%). Expenditure on governance has increased in 2023 to £21,063 (2022; £9,324). Similarly, cost of raising funds grew to £106,734 (2022: £41,553). This is reflective of organisational growth.

Key risks at the start of 2023 were:

1. Medium and long-term funding

In recent annual reports we have cited the lasting impacts of the the war in Ukraine as unknown factors which might affect our funding though inflation and economic uncertainty. Overall income has risen significantly, showing ITF continuing to weather this period well. Yet economic conditions remain an area we may yet be affected by, particularly in terms of giving from individuals and the corporate sector. The long-term impacts of Britain having left the EU continue to remain unclear and may also affect these funding streams.

Income from legacies is, by its nature, uncertain. It has made up a significant percentage of income in previous years (average 25% between 2016 and 2020). This dropped significantly in 2022 (£1,000), but rose slightly (£10,000) in 2023.

Whilst our significant growth in grant income is welcome, we remain mindful of the risks associated with funding from any one institutional donor.

Actions to control/mitigate:

a) Increase focus on gaining new major funding from statutory bodies, trusts and foundations.

b) Nurture our existing key funder relationships.

c) Maintain our move away from reliance on legacy income by diversifying funding sources, particularly by engaging corporate donors. Investments into individual fundraising are already paying off.

d) Use unrestricted income to support the growth and sustainability of the charity.

2. Fraud and misuse of charitable funds

As digital communication and financial reporting becomes more widely adopted, ITF and other charities, including our partners, are exposed to risk from fraudulent activities. Additionally, ITF is aware that there is the possibility of internal and external misappropriation of funds.

Actions to control/mitigate:

a) ITF Key Management Personnel (KMP) and Board will continue to ensure that the Finance Policy is kept current and reviewed annually.

b) The procedures on transferring funds to external partners, particularly internationally, in order to mitigate the risk of fraud, will be followed by ITF staff and continually reviewed.

We observe increased competition from other organisations, especially those with a focus on carbon offsets.

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3. Investment

ITF may invest funds at the discretion of the Board (as per the Articles of Association and Standing Orders). The charity has not held any long-term investments during the year. Should the charity have funds to invest, it would abide by its Ethical and Environmental Policies, which state:

a) ITF will seek to use the services of banks and other financial institutions that comply with ITF’s ethical and environmental criteria.

b) ITF will, wherever practicable, avoid using the services of banks or other financial institutions that do not adhere to ITF’s ethical and environmental criteria.

c) For savings and investments, we will choose mutual societies and institutions that invest in socially and environmentally responsible projects.

Reserves policy

The Trustees review the reserves policy of the charity annually. This review covers the nature of the income and expenditure streams of the charity, and the need to match variable income with fixed costs. Trustees recognise that the charity needs to have sufficient cash and reserves to absorb short term fluctuations in income. The level of unrestricted reserves needs to consider both the plans of the charity and the wider economic climate.

The Trustees resolved that it is appropriate to maintain a policy of having a level of general unrestricted reserves equivalent to a minimum of six months’ running costs, with a desire to build this as the organisation grows.

Funds as of 31st December 2023:

Restricted - £246,063 General - £253,279 Designated - £78,929 Total - £578,271

With general unrestricted reserves now standing at £253,279 (2022: £203,166), the reserves policy is met. Six months’ budgeted unrestricted running costs stood at approximately £142,000.

The ITF reserves policy provides both a minimum reserves position (6 months) and an ideal reserves position (12 months) to allow the organisation to weather extreme events and to invest in growth and new opportunities. We closed the year close to the upper parameter.

Significant donations

During 2023, we received a number of generous donations and grants. The list below details those above £3,000:

Aviva, Big Give, Chapman Charitable Trust, Coles-Medlock Foundation, Coutts & Co., Ecologi, Get Laid Beds, Impact XM, Inthallo, Just One Tree, One Tree Planted, PayPal Giving Fund, Plant for the Planet, Purple Surgical, Schroders Charity Trust, Scottish Highlands Limited, Solder Connection, States of Guernsey, The Adrian Swire Charitable Trust, The Tresanton Trust, Tree Nation, TreeSisters and UPS Foundation, as well as several generous individual donations, legacies and bequests.

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Structure, governance and management

Pay and remuneration

ITF is an equal opportunities employer and applies objective criteria to assess merit. Pay reviews are held with staff annually. A benchmarking process is undertaken periodically.

Risk assessment and management

The International Tree Foundation was constituted as a company limited by guarantee and is governed by Articles of Association and Standing Orders. The charity was registered with the Charity Commission in October 1965 (under former name ‘The Men of the Trees’).

Appointment and recruitment of trustees

The members of the Board are its Trustees for the purpose of charity law and are the Directors of the charitable company for the purpose of company law. Appointment of Trustees is governed by the Articles of Association of the charitable company. The Trustees have authority to co-opt new Trustees to fill casual vacancies arising during the year. The number of Trustees appointed should not be less than three and no more than twelve.

There were two new trustee appointments in the period and two trustee resignations.

Organisational structure

The Trustees had four full formal meetings in 2023. In addition to the full Board meetings, there are committees for Finance, Fundraising, People and Operations, and Programmes that met during the year. Trustees are responsible for the strategic direction and policy of ITF.

Senior staff

Alongside the CEO, the management team comprised of Africa Programmes Manager, Communications and Engagement Manager, Finance Manager and UK & Ireland Programmes Manager.

The Trustees are aware of the major strategic, business and operational risks that ITF faces and are of the opinion that there are systems in place to minimise any perceived risks. Reports are regularly submitted to the Board on all issues that might affect the running of the organisation, and a risk register is maintained and reviewed regularly by senior managers, and biannually by the Trustees.

Fundraising

ITF would not be able to do our important work without the support of our donors. We seek to maintain the highest possible standards in fundraising and relationships with our supporters and we take pride in providing excellent supporter care.

ITF is registered with the Fundraising Regulator and bound by its Code of Fundraising Practice. We continue to monitor compliance as this Code is revised, to ensure all our fundraising activities are operating to the highest standards. We received no complaints relating to fundraising via the Fundraising Regulator in 2023.

We ensure we are compliant with the General Data Protection Regulation (GDPR).

This project has really benefitted us and we are so happy. When we sell the tree seedlings, we will be able to take our children to school without any problem. It is helping the community.”

Trustees and the Senior Management Team regularly review all aspects of our fundraising, including plans, performance and compliance. We produce annual plans and reviews, and monitor performance against targets and performance indicators quarterly.

Eliza Apolo, Kenya

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37

We deliver some fundraising activities with the support of professional fundraising organisations. We ensure these organisations are fully compliant with fundraising regulations and with our own policies.

Statement of Trustees’ responsibilities

The Trustees (who are also directors of ITF for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they 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 that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act and the provisions of the charity’s constitution. 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.

In so far as the trustees are aware:

Public benefit

In deciding on which activities to undertake, we have taken into consideration Charity Commission guidance on public benefit. The Trustees are satisfied that the charity meets these guidelines with regard to delivering public benefit.

This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.

Approved by the Board of Trustees on 13th June 2024 and signed on its behalf by:

Dr Stephen Vickers, Chair

Company number 5219549 Charity number 1106269

38

39

We have ￿￿ted the statwrnnts of Intemal￿Tr￿ Tree FLwJndation {th&'(aTrtable company'l forthe year 31 Dwiiw 2023 whw <%Mrtp￿ Slatentt of Fin¥￿1 A¢tiwbeS, the Balan¢ Sheot. th¢ aler￿1 rrf Cash rths to the fir￿￿81 ststsments, In￿L￿n9 A stsrnrnary of %gnIf￿aTht ￿¢￿ntIng Kxs. The reportsry fwneK¥kthat has been appl￿ In I￿r prepamion 15 appIiLXb￿ LHwand un￿e0 fvo(wtry Stds. FinKJai Rewbrs standard 102 Fin¥n¢y$i R￿p￿￿9 si$nd• •) the UKapxIRwbk dtreknd{United Generd1￿A￿ptsd Att￿ni1Th9 Practlc&l. aThl Farvittwof ihe siaieofthe tharitable Clwny's 8ftaYs as 3131sl De￿rnbel ￿23, and ofi reSOL¥￿ of ￿￿ceS. InLAiryJ rfs incom& expenditure. for the year then have in aerAYdartt Wnh United Kwdom Ger￿dIty A￿pted AttnuMrvJ Prathe.. and We Wr￿u￿ed OLY ajdit in ￿rdartt wrth Intemaknal Sla￿ards on Auolbng IUKI IISA5 IUKII and applicable ¥. re¥w￿￿&t￿ utthr Y¥xe 5tandwrfs are furtw deS￿b8￿ In Auditorfs re8wn5iblil￿ for th8 audit th¢ WWt$ SXNyi of our f$￿)rt Wt ¥ro IAdepwdent of ¢haritaYe wmpsny in a¢¢tyrdan¢• W￿reTh￿nts that are re￿18￿ to our aLk1rt of financKql ststem2nts In Ihe UK. Includmg ihe FRC'S Eth￿1 Standwd. ha4 our ethul iespjnthli1￿ in accordan￿ W￿1h IhgEe Wo th•1 4i0Ort0 ob￿￿80 ts 8nd wropri810 10 a basts OPfftK In [￿ar￿￿1 suemen& Mt habt Cor￿￿1 that trustees. ￿ of ¢fmcem ba￿$ of O>Jntiry inihe k¥ewabon ofihe fila￿ slalernentsis aFVOWate. e8styJ ty) tr th we h8 thibw mgltyial urtert•ilbe$ rebtiw to events or (￿d￿th5 that oi rnay CASt Si9nfvAnl d￿kn1 ￿ the Charl￿b￿ compan￿5 ability to (W￿Ue as a gl￿ Lx¥Kwn ky a petKwJ of al ast months from when the fina￿la1 ststern8nts are trusw. teNy1. Its than and ¢wr aLiitorf$ ¢port thwn. Our ormni on the thes ￿ e4)vei the othei informati￿ 8Tr1. eX￿ffi to extent otlEA¥ise explI￿llY In ￿th ￿thE fir￿￿1￿1 stsierfnts. re5wn￿￿￿IitY IS to read the other inlonnabon and. In so. whether the other Infom￿1￿￿ 15 Iroterial￿ Incons￿lent wlh the fin￿ClaI sialernents or our ¥1 In al￿rt ￿ o11￿78e app8at5 lo be Mal￿allY nysStal. If we Idenlrfy such malenal IUiatsièfJtt or i)aiÉtll ￿￿t￿lia1 thsstat£mÈntS. are to dètèminÈ whèthèi t￿ra is a m￿•1151 statsmem in stsrn￿ or a manai rThsstement of the other informaboTh. If. based on the have rmAe is a matenal of this otW Inf￿ty0n, we are thè inf(KftWion n) ￿tr￿￿teeS. ferhxt IirtoryAyatr￿ the direthrs. ryrti far the finan(ial ￿aT for wh the finaK4al statsments￿e kYep3rèY is con&sienivAth the finantial skienEnts.' and 41

Ind#￿n￿OntAUd￿ttsts' R+ptsrtttsth4 m4mbÈts of Iht•mknl Th)& F¢￿thda110th 1ctsniinu￿> IndependentAudltors' Rewttothe members of Intemaoonal Tree FOUnda￿On Iconunuedl Matters whl¢h %are requlred io report by excep In the Iwjhl ol our kTr)￿edge and unde15tandiry ol the charita￿e c¢mpaiy 15 enwrorfflErf oLarnJ wi the cour69 oflhe a￿rt, we haye not wJeDbfied rnr6stale￿￿tsln rew¥l. A fLMVw ol w re￿￿¢d¢￿S for Ihe awjt of Ihg statwtpnts Is lo(d on Ihg Finan(¥al RowbNJ c￿￿3r$ IiWw.[rL(￿g.L+Iau￿tarsrèY￿9A￿Nh71èI. Thi4 dBscrirAKM tsrmÈ part of Our We h￿e nothing lo rekwyt In resp&1 ol I￿￿7￿g mter3 in relat7n to t•th uslo repryllD you rf. in ￿rop￿￿Th.. Jequale accounlr& records have not been eF4. or ￿dI rK4 been r8r8ived from notvBfd by the finanu21 str￿Ments In with f Certain dwknsures oldireLknrs' reffluneralbjn Sp￿rf￿￿ by Mtm•Je.' QT Vle h¥ve recewed al the infotrTthon and requretscdJrwJtht ( the trustees were not enblled to rrfepare the finantsal stat￿￿rts F) smal companies. regime and take thantaje of the small Corn￿￿. eXerr#K￿ the thectots. rgwrt and trom ihe requip￿1 to a strategK rpkK¥L rem $c￿t01he chwitable cryany's rr￿, asa bth. In accordance Chapter 3 01 Part 16 of C(xtYn￿8 >4 20(6. ￿ audit w)tk h35 b88n UnCtsk￿ so th81 might slats to the tharitabL9 C(Th￿Y'S membèts ItK)5è mat￿ts rwirl io Stale io thèm In an audrtoi's report and for no othèr pjrpw. To fvle5t ex￿1 by Liw. we not accept or assurne rewsibilily to anyone othei Ihan C(x￿nY and (tstilabb mwniws as a b(W. fly QUT a￿rt WOTk. fw Ihis report, QT ha￿l(￿[￿J. Responslblllttes oltru5t¢es As explaine¢ lully in Ihe Irustees. rewwwb1th5 stalem￿1. t1￿ Itu￿ ¥50 of ¢hariiÈblè Ioi Ihe of c(xYwny Lqwl ale ￿ f(w tr of the ffinan(ial 513￿Men15 ar￿ ftt being saltsf￿ ihal they9Ne a tr￿ lar YMW. and fty corid as the Intsiees delemine 15 [￿ssary lo e￿a￿e Ihe weparabon of fina￿?1 statements that are (ree maleri lal8tnen( whelkEr ￿E]0 frJd ¢rtty. B¢nini￿ Hayqs Bst FCA IS•nior siaiutwyAwiitor Forand behawolwenn T0￿send In preparing Ihe financial 5taternents. the trustees are responth for asseww Ihe lo conbnue 0$ 3 goiry ￿t￿ern. discbwng. o¥ a￿￿3￿1￿. mthts tthted tQ 9YtKJ otKI uwj n￿M basis ol Ac(thnbng unkss the trLtses ethtt to ciwny or ID rxse operations. or have no realthc aNemalNe bLrt toib so. 30 5t Gil•s QXI 3LE Auditofs rn¥pon8ibililiv8 forthv auditolthe finan¢iil stJtfjffj•nts Our ￿l&￿V•s are to obtain rèssonab￿ assursncè whèth¥ as a frÉè from malenal misstaiemenL wheiher due lo trajd or eiioi. and lo tssue an authtols rew that incAes our opinion R9a6onable assUr￿ce bs a hwjh ol assuratw. Lxrt r& a ￿￿arrt8P Ihal w aLK cwJLKawJ" S(￿￿(￿an(% V•ith ISAI IUKI V•ill a￿ayS da￿ g matèria misstsi•mit èxists. MLSStatÉmÈnis c1 ali from fraud or erior and ale conS￿ered matenal il, I￿￿￿duallY or in the ag3re9a. they t 131h 2024 Irwularibes. includifvj fra￿. are of nrTh￿mrAk￿n￿ ith L7wS arKI re9ukn1￿s We r￿c￿eth￿ line wrth OLY reskwgbilities. Out￿n& atthp. to Ltecl rTratwial rntSStatwts in re5ped of wregLdwtE5. duthny fvaud. T￿￿ w0¢9dwes thi¥ and ts extwrt to Ilwe detectifwJ IrreguLqribes. mdudiWJ fra￿ lSdth￿d Enquiry of management t￿ wth aTrJ the eniws sokAcrf5 arty￿ acW potenbal lit￿￿tion and da¥ns". ReviÈwiny Minu￿¥¢In￿eknny$ ofthose ¢h8ryedvAh yOYw¢e". Reviewin9 finana81 statement thsdosures les￿r￿j to thuJnentskn to asgtss c%Ar￿e %iih app11rAb￿ lth¥s regulaborts.. PerfDrming 3udrtWEKk overlhe ri¥k Df and other adiugtments fcrf arwpriaterss. eYaluatTrJ tr ￿￿nE$S 18￿nde of outgde the n￿1 courseofbu5iness aThJ revwing e51wnates forL¥a5. Be¢au of lh8 lin￿1$1￿￿$ of 8Th audit. th8r8 is a wil fK)I IW# 4 WWi. thosè ￿adIng to a matsrial rntsstsm8ffl bi tr flnanwl ststemBnts ¥tyth rw1￿. Thi% rtsk eases Ihg more that Complian￿ wilh a law or regula￿￿ ￿ rernoved It￿n the ￿entS ard trartsa>kns 1gfl8clgd in the f￿an(Pl 5tatettpnls. as y￿ Ikety to i(yXtE ware d inKX5 ol tK)n4XXry￿. Thè risk is also gr•at£r wardlrvJ 02CurrifwJ to fr￿d £ThrAT. as IrAI Itenlional Go￿ealrr￿nI. lorgery, cd*Jsion. omiysion or mweweserna￿n. 42

Intematoonal Tree Foundatfjon Statement of Financial Activities lincluding income and expendi￿￿ accountl forthè y•ar and￿ 31st D•c•mbor 2023 Note Totsl Unrestricte(l Resthcted 2023 funds funds Total 2022 funds lunds Income fn>m.' Donations and kga embership sUbscript￿n$, $rA)nsorship and events ImiesltrEnts 222,8 1,685,6 1,908,592 153,460 4.1( 1.314 726,85T 880,317 4.106 1.314 9.160 Totsl incomg 232.056 1.685.6 1.917.752 158.880 726.857 885.737 Expenditure on.. RaisirvJ funds Charitable a¢bvities 106,5( 95.3(M) 228 1.726.326 1(￿.734 1.821.626 41,553 64.693 41,553 814.572 749.879 Total expenditure 201.8( 1.726.554 1.928.3e4) 106.246 749,879 856.125 Net Incomellexpendlbjre) 30.250 {40.858) 110.6081 52.634 123.0221 29.612 Transfers bets¥een fiJThts IT2.0￿) 28.751 128.7511 Net movement in funds 102.340 1112.9481 110.6081 81.385 151.7731 29.612 Fund balance5 brought forward at 1st January 2023 229,868 359.011 588,879 148,483 410,784 559,267 Funds balances carrSed fokwdrd at 31st December 2023 332.208 246.063 578,271 229.868 359.011 588.879 AJI incom8 and expendrture derive from conts"nuirwJ actNib8s. The ststement ol finawal actmtyes i￿ludeS al gains and losses r￿n￿•y the p￿￿d. 44 45

rnalion•l Trtt Foundalxn 0alanc• Sh¢•t 31st Deu1￿2013 for1h￿r￿0trj 31iD•c•mbor2023 2023 Flxwl Tangible assets 4.7 15 339.204 114,523 CufY¢ntAs¥•i8 Debtors Cash albarth and in hwvj 10 236.318 47.859 9.160 1.314 1.131.1 6CII.913 Credltvr5'. A￿U￿ts11￿g thin year 16.ml 15.4761 1535.7941 116mOI 2.5 N•tCurr¢ntAMets 595.372 341.794 110,361 Ttstsi AÈa•ts IA8 Currnt Llat41hl em.712 588.879 at 1stJthMwy2023 553.oy 442,693 Cred6tvr5'. falSry iJe aftertllQFFlh3n ong 12 QS.4411 553,054 NetAssets 518.271 588.879 Fwnd$ 246. .011 Unmtrithd lund¥ Genu81 fund DgSynatwJfu￿S 253279 78.W29 203.1 Totsi Futtd 14 578271 588.879 rompanyes regi￿. Approved by thè Board of Tru5t4eson 13th Junfr2024and slgned on ts behaff by: Dr Stph•hVl¢k•r8 Chalr Compony 5219549 46 47

Notes iotheAccLwnts forlhe yeaw enthd 31s1De£ember 2D23 forth ￿ra￿dd 31Bt DA¢smb•r2023 SummaryolstgnM¢antac¢ountlng polk69s Genernl informatlon athd bo$1s ol preparaJon Intemational Trae Foundation 1S a Larrtable c￿anY lirnited by guarantee in ihe United In the event ol the thatity beiry Y￿U￿0 up. Ihg Iiabildy In oflhe guarantsg B Ivnrfgd 10 £10 pw of thè charity. Th& addrèss of th& ￿Kster8d offts L% gw) m th8 chanty m10m￿ fwrKJ ststernents. The nature of the thartys cwatiorts ￿ r￿￿paI actybtss are dela￿ thè Trt￿ee5' Report. SwmnaryolflgnrThcantaccounlin9 Oicies{continu exwdrfuie IS lor on bxs and has c19￿￿ed ￿der headhi that tygregatealc05ts 1@4ted lolhe ￿gOry. Exkwthture Is rewgThwJwhorelhere legal or lo ￿￿k9 paYi￿nIS lo thito part5, it r6 wobaL4e that the selUen￿nI will i uyed thaNKX￿t0ffthè0￿I￿JAlA)n ean k mÈ￿red rdkqbly It is tatè9oris￿ ￿d•1 thÈfoNovAng sKepai&# in aCC￿dan￿ ¥ith Accounbry Re￿ by Ctsriiies. Sta￿m d RecorMMded Prax ap￿￿a￿e to tharit￿S prepari￿ Ihwr a(rounts in a¢CL¥dar￿ wth Standatd pplrawg in Ihe UK Rewbkc of Irdw¥J IFRS 1021 2019. Rew¥lMvJ stsndard ÈpplicablÈ in UnitAd ￿ng&ars unb¥s (drww$￿J. Fund accoun￿n9 Costs 10 8 partthl81 •¢bvty ar8 thr•. 0lFws aE arw1b￿ on the bas& of estima￿$ of thè rKoporrion of bme spent by staff on ihose aclhitEs. Uso atltdiWb￿ oftho Bo¥ddrr•xNsin Ot￿r￿s{l￿(￿tst￿• ImpaThy. Dewgnated funds comw8e fwvjs sel asth by thtr etsaro d t[￿$ OLI d wresbwAwJ furds Spècific futuiè pwsègor w¢iÈ¢ts. ReslrKled fwds ComW￿ rawj for. and their use re51rIc￿ to. a ¥eufic p￿Pose. c donation¥ suLy"ectl0 L¥JryJilwJns Irryo¥ed bythethnworihrowhlheterrrtsof w apFeal. IrfB ¥$tkns." 2533% sirnwlinèba Incomè recognilton I Incomino ￿sourceS are in the Ststerrml Pthibes ISOFAI the chwity" alty enbued lo the Incovr aftei any perfw[mn￿ nL be m¥$$U￿ roli¥bly $nd it 1$ wb$tl¢ th$ithtr tr¢•vl. For donBlk?ns lo b& recLyThsed th& charty wll have been of the anwjunts the sdllernert d in wnliry. If Ihere attathed to ihe and ihi5 reqLwes a W of befoio Snhde￿Thi ¢bt8inwS. ifMme is fj¥fwt￿ Un￿ trmw fulty tr rulfilmènt ofthose wrKffidons eomrol ￿th0 thafflyaThl rt L% rrf(￿￿ bp R)L4Lg payatrAè LThIAr arè thatgl 10 thè ol Fina￿￿81 A(thi11￿ 88 In￿rI&l When thwk)yees have to thsiity. emrloyee benefit$ 10 ¥vhth ytes a￿ enlit￿l Ai the und￿c￿￿ta expetted to be pa￿ in extharvJe for Donaled faolitK% doDated W0fe55￿al SeThi￿5 are recogrysed in irKxre at tsr Iw Trr&Je their 0¢0ntyTh¢ bw¢fit 1$ w¢babb, it ¢an be ￿￿r¢d ￿latI1￿ th6 thty etykni em Fair valuè is deieimined tr ba&s of the valL of to tr thty. For tr amount the charity wou￿ be ￿111￿ to pay on the ow mathei tati&tEs and services. cO￿espOndIn9 arnount Is iwnised in expwditure No ￿nI Ihe Stat￿erts volwteerbrne ID linewiththe SORP {FRS 1021. T•x Tr tharity 8 an exè)W tharity Trthin ttt nwniw ot sthedLle 3 Of Charrtes Act 2011 And i% fAir￿¥￿ered to pass the tests set r¥A in P￿agra￿ 1 srtslU￿ 6 Finan￿ Act 2010 th￿Ore Il meets For legacres. enbllement IS the earf￿r d the ctsrity trvJ n(AiW ol or the acy being rtteNed. At this irtsirne i% rec￿nI￿. On ottasion g￿leS be to the charty, h(V￿￿r it is Dol w&gble to measure wrv)wl eNpeded ID i OWJtrJted. th trAJe o¢¢a$iw¥. l¥g•¢y i¥treed a¥¥ ¢ontsr¥J¥nt¥$8th and disd¢wO. The fmancial siatwn•ts ho¥fr beon rrfepar&l on a wr#J Conr￿ ba￿$ Bs the trustees bèli8v8 that no leti urKytamtie5 ex￿1. Tr ItU5tees have coD5thred Ihe ￿ of (unds held and the eXp￿ded level J tX4YrwJduro ts 12 rn(￿$ from authw¥￿9 Ih¥SO f￿an¢￿1 si¥temenl$. The PAfft39nt tt of ros￿¥8$ kn thè ch¥ty tts to t￿tinu& a$ 8 Inveslmert irAxme b3nkintereGlreC￿w8bIÈ %fWaCa￿d althe bdance 5heeld&te. 49

IDtsmationalTrev FoundlltiDn IntsrnaliDn•l Trye Foundation 14ot¢s iothèAccounis lconiknued) NoiiD th&Ac¢oui)ts1￿n￿ttUO￿> forthe yoar•nthd 316tDec¥mber2023 DonaUon6 and kgacl•s )23 pknlkns id gratsts payaue 2D23 2022 191,5TT 43.373 10.LYM) 1.663.642 1rd.679 312fy1 ApFwI$ Legac anls 44.187 61,016 1.531 108.734 41.S53 675.434 1.301.055 157.981 306,517 40.677 2.041 1.767594 1.021 41.698 510 21,tK3 18.7291 18.7291 782227 23.021 9.324 1.￿￿.5¥2 J17 214 Incom¢ and illt¢iit 1.301.055 202J82 428.549 13.62611.928.360 856.125 2023 9.1 1314 2D23 2022 6240 2.358 324 4.729 Char6tsbl• acdv6t 3)23 6.692 1.679 1.132 1.ni 10,862 1.050 24,830 6.135 1.892 1.959 Aniing, pmi•ckn pr4q•r¥aknollf•AS Tr￿ plaDlin9- UK Tree planting- Intematso 7.985 i.m.070 157.981 .517 2.041 37,514 ,987 288.19J 12246 4.318 1.373 276 siaff costs 1.767.594 64,686 30.$36 159.$831 New$￿tter.J0uMal Cctsa￿J1￿t1Q Stsff costs 5.103 1.021 6.123 18.7291 23.021 13.6261 30.616 Goyemancecosts 21. 9324 Ex¢h8tt9¢ rntelo8inyk)s# 18.7291 Totsl charitat4extivitie 1M21.626 814.S72 50 51

IntsrnaliDn•l Trye Foundation F4oi•to th•Accouttts{conlnu•dl forth• y•arondgd 31stDKwnb•r2D23 Floiesto thfrAc¢ounts{¢ondnuedl fDrthe y•ar•nthd 31st Doumber2023 staff costs and mimbors )zJ 15,703 6.570 370.2 24.272 18.376 10.510 29J.401 17.$46 13.439 SEvo18WJtilyg)5 Employer's peNon (￿￿)bu￿nS Lrfe 8ssurarr ar￿ empkiyeebenefits At31st(knw2023 19,555 325.1 10,917 3.016 Wlhin th¢ Cost 0 £103.U7612022". e65.958} of oisi¥ fry n ryyJpd through suSL9￿@t Group Lilitsd lan ffttémabon4 N¥ Kenya) At31stCknTw20YJ P4ettthkTAI 8.340 Number 4.786 PLqnbng, woteclion, kYeseThthn [￿rthn c4tsees FundraLSiry and itw)Jrtp 14 10 2023 2022 16 13 12 10 24.646 10. 8.322 192.867 23,830 18,021 8.692 1.316 duriw the vjtrenl pe￿wj ￿022.. none). Truslees. and keymana9efflontwrsonnel remw￿all0Da￿xpQn$e% 236.318 47,859 TFTtu¥teesnErfhEI t¢¢eNtyJ norwJ 8nyiwW8￿thrH¥￿tt￿ ￿￿J(2D￿. ￿>. The total arrnunt IindLYJing erryknyw pe￿On rnstsl rece￿￿ by key nwojernent Fer 31,744 12022". £220.6361 Thtr Ch¥tity rfs key Chief Executwe. thca Programme Mawer. UK 8 Ir•laThl Pmgramme Marw. & En98gement Man4er and FIrban￿ Manw. 2023 2022 10.8Tg 258.237 23.181 4.812 No TmstÈè12022." onè) %￿(￿M￿u￿&d for drÉcty intsy￿1(Al toialling £nil 12022.. £601. 2,7(X) 7.2 236.0 N4tlncom￿x￿dlIul0> 3J23 535.794 16,820 M￿[eXper￿d￿re) i¥ SW&S¥ft¥tFwy*¥J." Au¢htorfgexAminer's remunetstion De￿￿￿￿on0ffix& assets 2.71X> 3.016 2023 2022 .441 ZS.441 52

In¢wwlk>nal Trry• FouThJwtion Notes to th¢ Accounts1￿nts forthe y•arend•d 31st DBunkn2023 140tss iothe Acc￿nts (COn￿nu0d} BLnc• at111123 EKpendbJre 7rnnsfws at31112123 Funds In*m&KJTral 1,6ZT 1,62T 16.773 39.710 118,3 12.263 Ta￿1b￿ fixèd agsws Cash ai and In nel assets Lcry tenn Iwblitps 288.918 989.574 159.8Z3 14.943 128S,OBII 11.028.815) 11Z6,7151 12,6801 12.4671 141,e891 127.6341 321. 573282 894.848 I￿￿27￿) 1299.476) {25.441} 125.441) Kenya PrrpyJnme (Waiu Wa 138.640 112,84 2.￿ 246.￿ 578271 34,943 34.039 282.438 (285,2631 34.039 Fur GNe202314&E 10.(KX) 10.0 359.011 1.685.695 11.726.554) Ir2,lYaOI 246.063 Tangib￿ ffix￿ assets Cash ai bank and In hand Cthrnel current ￿lS 4.7&1 340.3T2 553.054 18.136 31.039 212.682 12.￿3 t￿n￿allU 203.1£ 1199,T2BI IT,T85 253.279 229. 359.011 Sfj8.879 46,e83 7.622 e6.865 12.044 12.0781 232.056 I201,￿> 72,CfjO 332.208 TotslfundB 588.879 1.917.752 11.928,3601 578.271 55

Inknn•tyonal Trfjg Found#t hrtwnJbw•l Trfjp Found¥tsDn Noies to th¢ Accounts i¢onUnuedl forthe y•arendod 31st rumber20Z3 P4)t•s 10 the Ac¢ounts (Con￿n￿ed lorlhvy•arend•d 31st DDcembBr2023 14 siatementollwth IconUnuBdl 14 Stmefflollunts{¢oniknwrfl 41111r22 EJFffjMlrfyr• Tr•ths •131112r22 ups UPS SUFvtyts awarss in tr tront IhTr2 oldrnale charvJe and promoles ihe ro￿ of thB ¢￿ty of in 185 ofoLKyJ t1￿ ith vdunlegr8 fr￿Tr UPS 8$ aswymtny ITF'$th Inthe In Afnca. Re5thcted fijnds Inlfmation81 ￿gra Ah)ca Drylands sustainab￿ COm￿nitY F￿sty Kenya F¥ogratntne{Waiu Wa Mitil Savè FiJr8st ups Univeryty ofSasklv Utygnd• Progrdm 87,473 1$0.SU1 21.692 (14.5211 1425,3071 Q2.513} PayPal Ev•Dts Progrnmmo Supwtw ITF'¥ttw spSfi¢￿Mts$in tho UK8nd ma￿￿. 431 112.848 23,952 1262} 188.950 (1D).C641 nmunity Truq PLntif4 hxal C¢rtn￿nrtks bi thfr UK • tro8& fundBrs I￿1& Eugl, Tree Nion xwort for UK trwh ujr LPS [L￿1r6 relattyJn5hy, togeiher a numb£r ol 23.987 1216591 crthM￿tyTr¢e Hantiro Susan Cookele9OCy Tree Pmr Tw J(KJm¥l 40.%1 104.015 532WJ (fa2111 I￿478) 34.943 16.srrfJ) 34.039 AL￿L￿51 fv￿n Eateo4ihsLts&Jw to Wy OLrt Northern Irel￿d. 16381 Tree Paer EdL￿at￿ SUFWtw lethrs aryj schoo to inspye nthv ger￿a￿On5 thut the 410.184 T26.657 r149.8791 Q8.751} 359.011 Unrestrfcted fvnds GEneTÉI fund "g 2023 1 F￿J$ 1hro￿￿ (w ¥wtsr wal 10 Wp th8h¥ and ITPS Mrit￿r￿j. e¥￿U•t10n 148.483 158.8 (1(62461 2.049 ￿.168 0￿9Th8￿d funth.. Tree SuSLliiatAIIty & SuNf4al FUTh UK 8 Europg De¥dopmgnl Fu .202 202tr2 148.483 158.W> (1C62461 2B.751 229th8 e￿￿￿SLY¥r4 oftsees aclossow tretrFlantry wort ¥￿rfo￿ldè. especially wlh ￿spe￿ Totsl lunds 559,267 885.737 [￿,12$) 586.879 VK & Europe Fund Th5 LtswJngJ tLMd t￿¥¥jeS seed fL￿1￿ for of our UK aryj ELYope ￿yOgraMThe lo e￿]b of our in of our s•)Jri￿ of 8dUitw)n81 Intemational P Africa DrylaTrd8 tWUeSi from the E¥ato of tho 18 Mts Ga￿ Nl 1999. to t iegeneratson offt￿ Sahara region throu9h the estaNtshmentof¢ornrMntylree r￿￿ rKoie£ts. Su8tsl￿b10¢om￿￿nrty Fty•$try SuKw￿n9 local communily.basÉd organts￿l(￿ to rA&ii to r8stfts rcièsts. Major tundw5 inCIL￿e.. Ecc4091. oakda￿ Trust. Sts￿$ of (>Jemsey. TreeS¢stets. Tresanton T￿￿ tI￿r ￿[pOr￿e. ItUs1 Individual Kenya Programme Iwètu ¥A Supporbng Ihe p￿￿ting ol Ir￿5 in Kenya by local cowmjnty-based r￿gar￿1￿. FuDdu5 YKJJd2.' BDlanical GaidBns Consetv3l￿￿ Inleiniwal. Er0￿gi. Tife. Tree Fl3rrted. Wryr Piqnt fwthe Hartt. SICPA1SA1. Treesthrs. ￿￿¢)￿er rx)rprw S6 57

Int•rn•tk)n•lTrt•FowMJJkn Ilotesto IheAcccMJnts{o)niknuedJ forth• yearon(Ivd 31stDec•mber2QZJ Noie5tO l￿A¢c￿J￿ts{¢onOnU9rftr xth• ywr•ndvd 31stDK•mb•r ZOZJ 14 siaiemontolfvnds Iconunuodl TrEe FIN￿dthn knya, a th3rity, itwtppr3led und81 Kenyon duriry the year 31s1 tkcer(thr2019. ￿enable K￿yan thn0￿ to make donat￿nS io hdp ITF its obiedives. ITF ITF Kenya have ihe San￿ eoard of T￿￿lee5. IhwefcKe IfF Kenya ￿ TrAew&Y &% t￿Tra contrOl￿d From To No$ Ririci>J. Kenya Progrnmme <W8hJWA M￿) De￿Trèted-T￿e gJSthinBiqhty&knw FLmd upts mntswl. ar￿ ertswe Fw 31st DEcwrknw 2023. ITF vrds entilled to eXernpt￿n from wepanng consdKtsled c(yJnb pwwrt group by tt qu8hfy stnall undgl 5gow)n 383 ofthe Companie¥ 20C6 the parent arml gTh)up are c(￿1dered ￿￿￿1￿e for thd exampbon Aa dètèMi￿Éd by rel￿en￿ to sec1￿5 384 and 399(Z41 ollhe CcryanEsAGI 2Ly￿. dL to dimaechaf RÈstrth- Sutsnab Ctwnmunity FotEsty Sustainablity& Fund due todmcharoe UK 8 De¥ekpTrni Fu to RestrKted- UPS 2023 fw iio,eA)8 29fi12 Dewecwlion charge InlBre¥l receivab Iln(xeayeYdtt￿SeindeMNs Inuea5e m crethlors 3,016 19.160 {188.459 544.415 If j141 114x3 16 L•49•￿mm￿ntr as fr4kn¥￿8". 7541 58 59

International Tree Foundation Founded1922