Company number.. 05498067 Charity Number= 1113263 International Federation of Gynecology and Obstetrics Report and financial statements For the year ended 31 December 2024 SA YER VINCENT
International Federatlon of Gynecology and Obstetrlcs Contents For the year ended 31 December 2024 Reference and administrative information Trustees, annual report Independent auditor'5 report Consolidated statement of financial activities .24 Balance sheets .25 Consolidated statement of cash flows........................................................................................... 26 Notes to the financial statements .27
International Federatlon of Gynecology and Obstetrlcs Reference and administrative information For the year ended 31 December 2024 Company number 05498067 Charlty number 1113263 Registered office and operational address FIGO House. Suite 3 Waterloo Court, l O Theed Street. London SEI 8ST Country of reglstratlon England & Wales Country of Incorporatlon United Kingdom Other name that the charltable company uses 'FIGO' Trustees Trustees. who are also directors under company law, who served during the year and up to the date of this report were as follows- Dr. Anne Beatrice Kihara Dr. Edgar Ivan Ortiz Lizcano Prof. Shantha Kumari Sekaran Dr. Ravi Chandran Prof. Frank Louwen Prof. Chiara Benedetto Dr. Ernesto Castelazo Dr. Blami Dao Dr. Nestor Cesar Garello Dr. Hrishikesh Pai President Vice President Honorary Treasurer Honorary Secretary President Elect Regional Trustee Regional Trustee Regional Trustee Regional Trustee Regional Trustee Key management personnel Frances Longley Andrew Wiles Christopher Horry Mark Lywood Mehala Manimohan Chief Executive Chief Operating Officer Director of Finance luntil 28 February 2025) Interim Head of Finance (until 16July 2025) Head of Finance Istarted on 02 June 202 5) Bankers HSBC 431 Oxford St. London Wl C 2DA Solicitors Davies & Partners 57 Queen Anne Street. London Wl G 9JR Hempsons 100 Wood Street. London. EC2V 7AN
International Federatlon of Gynecology and Obstetrlcs Reference and administrative information For the year ended 31 December 2024 Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor I l O Golden Lane LONDON ECIY OTG
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 The trustees present their report and the audited financial statements for the year ended 31 December 2024. Reference and administrative information set out on pages l and 2 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities.. SORP applicable to charities preparing their accounts in accordance with FRS 102. Objectives and activities Purposes and aims The charity's object. for which FIGO is established. is restricted to the promotion of the health, wellbeing and rights of women worldwide by ensuring high standards in the practice of gynaecology and obstetrics for the benefit of the public. The main activities undertaken by the Charlty to further its charitable object for the public benefit include but are not limited to: Projects aimed at improving women's health, wellbeing and rights in low and middle- income countries including safe motherhood projects designed to reduce maternal mortality as well as sexual and reproductive health. The awarding of modest grants to FIGO Committees and National Societies to help in the promotion of the health and wellbeing of women worldwide and to improve the practice of gynecology and obstetrics. The organisation of international workshops and meetings. The production of educational material relating to women's health and the practice of obstetrics and gynaecology. These include webinars. Guidelines and other Best Practice advice. The activities of the subsidiary. FIGO Trading Limited, include but are not limited to.. The organisation of a World Congress of Gynecology and Obstetrics held every two years and regional congresses from time to time. The production of the International Journal of Gynecology & Obstetrics and other FIGO publications.
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 The Charity is committed to: Encouraging all efforts for raising the status of women and for advancing their role in all issues related to women's health. Promoting sexual and reproductive health and rights and service5 through education, research and advocacy that will support the provision of accessible. efficient. affordable. Sustainable comprehensive reproductive health services. Accelerating its efforts and activities in respect of the United Nations, Sustainable Development Goals (SDG) and to achieving these targets especially in the area of safe motherhood and new-born health and gender equality. Continually upgrading the practice of gynaecology and obstetrics through research implementation. education and training and by maintaining the highest levels of professionalism and scientific and ethical standards. Improving communication with and between Society Member associations and building the capacities of those from low-resource countries through strengthening leadership, management. good practice and the promotion of policy dialogues. Strengthening capacities to enable Society Member associations to play a pivotal role in the development and implementation of sustainable programmes aimed at the improvement of care available to women and new-borns especially for poor and underserved populations. These include developing their abilities to advocate on behalf of women and those who care for them to policy makers at regional and national level. Recognising the importance of collaborative efforts for advancing women's health and right5. the Charity is committed to strengthening partnerships Wlth other international professional organisations, UN agencies, and the public/private sector to achieve its objectives. Public Benefit ststement The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular. the trustees consider how planned activities will contribute to the aims and objectives that have been set. The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. Achievements and performance The charity's main activities and who it tries to help are described below. All its charitable activities focus on the improvement of wornen's health and reproductive rights, the reduction of disparities in healthcare available to women and new-borns. as well as advancing the science and practice of gynaecology and obstetrics and are undertaken to further FIGO'S charitable purposes for the public benefit. The Charity is the only global organisation that brings together professional societies of obstetricians and gynaecologists from across the world. The Charity currently has Society Member associations in 139 countrieslterritories. Restricted projects The Charity has been fortunate to receive a number of large grants to fund specific multi-year projects. These include projects aimed at improving the health and wellbeing of all women whether pregnant or non-pregnant and the services that support this in low- and middle- resource countrieslterritories. FIGO works with its Member associations to deliver improved health interventions or helps the Member associations build capacity and capability in a particular region or nation. FIGO currently has a number of large project5 in progress and received money to support its activities from donors totalling £2.165.873 during 2024 (2023.. £2.836.221). including £613,317 (2023= £755,859) for the project relating to Advocating Safe Abortion, £290,315 (2023= £610.301) from donors to our Fistula Surgery Training Initiative. £434.940 (2023= £364,484) for our combatting Post-Partum Haemorrhage (PPH) projects, £101 ,457 (2023, nil) for the WHO funded project, Abortion and Contraception Care Together and £724,607 (2023: £1.100.802) for our FIGO Leadership Development Initiative (LDI:REACH) which is being sponsored by the Bill and Melinda Gates Foundation and aims to improve maternal and new- born health outcomes through advocacy and improved care in six countries. These specific restricted projects are normally undertaken only as and when funding becomes available. and a project generally takes place over the term of the grant funding which is typically between one and three years. FIGO always aims to demonstrate positive and sustainable outcomes from its projects in improving maternal health. Evidence of strong outcomes can also help FIGO to secure further grant funding to expand a project's activities to other countries or to reach greater numbers of women and healthcare professionals. Project activities are continuously monitored and evaluated in line with the project objectives and the requirements of the funder. During 2024. projects delivered the following significant achievements:
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 Advocating for Safe Abortion Project (ASA) The Advocating for Safe Abortion Project5 Started in 2019 with funding from a large anonymous donor which ran through to end of 2023. During this time FIGO worked with 12 members societies in Africa and Latin America, as well as two regional federations Isociété Africaine des Gynecologues et Obstetriciens - SAGO. and the East. Central and Southern African College of Obstetrics and Gynecology - ECSACOG) and associated Communities of Practice. Once this initial grant ended. new funding was provided by FJSI and the Hewlett foundation to continue the work in West Africa. The societies directly involved in the ASA Project during 2024 were Cameroon, Mali, and Burkina Faso. As per the Theo of Chan e, the ASA project continues to be structured around two core pillars. First is the strengthening of organisational and technical capacity of national societies of ObGyn to enable them to become national leaders in Sexual and Reproductive Health (SRHR), driving positive change within their local context. The second is engagement in advocacy for safe abortion via a range of different activities and partnerships. leading to incremental positive changes in safe and quality abortion care through the society's influence on policies, attitudes and knowledge. Building networks and working in partnerships at national and international levels has been a key element. The project also continues to work with SAGO and the 20 country Community of Practice created previously and developed through partnership with other regional partners. A significant achievement in 2024 was the in-person meeting of this Community of Practice held in Togo in September 2024, bringing together over 50 health care providers including ObGyns, midwives and young professionals to discuss matters relating to safe abortion advocacy. The project also had a strong presence at national Congresses in both Togo and Cote d'lvoire. bringing together representatives of FIGO member societies across Francophone Africa to continue discussions on safe abortion in the region. The project also continues to work with FIGO'S Safe Abortion Committee and contributes to raise FIGO'S international profile on the topic of abortion/SRHR. This included representation during the virtual Global Safe Abortion Dialogue in July 2024. Also included under this portfolio was a one year project with the member society in Zambia to implement WHO guidelines pertaining to self-managed abortion, funded through a collaboration with CHAI and CIFF. This project finished mid-2024 with a range of outputs that were shared via FIGO'S website and other channels. Collaborate for Women: Abortion and Contraception Care Together (A4W Accn A new project was initiated in collaboration with the WHO towards the end of 2024. The C4W ACCT project aims to aims to strengthen capacity and support for national uptake of competency-based education in family planning (FP) and comprehensive abortion care (CAC) across five countries in Africa and Asia. It also seeks to build inter-professional collaboration
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 among Ob-Gyns. midwives. and other key stakeholders to ensure sustainable improvements in women's health. Initially funded for a one-year period, the project is working with national member societies in Bangladesh. DRC. Mozambique. Nepal and Sierra Leone. With funding starting in October, the main focus in 2024 was on-boarding these five societies, with work on the main project deliverables (Needs Assessments. Road maps and Curricula assessments) commencing from January 2025. Fistula Surgery Training Initiative (FSTI) Funders: Texas Children's H05Pltal (TCH). an anonymous foundation and Hamlin Fistula Australia FIGO plays a crucial role in maternal and new-born health by addressing obstetric fistula, a life- shattering birth injury caused by unrelieved obstructed labour. It affectsthe most disadvantaged women in low-resource settings and leads to chronic leakage of urine and/or faecal matter. Without a trained, competent fistula surgeon to repair the injury, a woman with an obstetric fistula will be incontinentfor the rest of her life, causing unimaginable suffering and stigmatisation, a5 well as calamitous social and economic consequences. Obstetric fistula can be prevented by making quality maternal health services available for all, especially emergency caesarean sections (C-sections). Yet, tragically, the condition continues to devastate the lives of 50.000 to l 00,000 women every year in 60 of the world's low-resource countries. This adds to the backlog of one to two million women still suffering with the condition, due to the lack of well-trained, competent fistula surgeons. Recognising obstetric fistula as a neglected public health issue and to bridge the global treatment gap. in 2012, FIGO launched an ambitious training programme to greatly increase the number of fistula surgeons. The programme builds the capacities of 'FIGO Fellows, trai nee fistula surgeons from fistula-affected countries - starting with initial training in a FIGO Certified Training Centre and subsequent coaching sessions by FIGO Trainers. The initiative has expanded substantially since its early days, and at 31 December 2024, there were 93 Fellows from 28 high-need countries in sub-saharan Africa and Asia being trained as fistula surgeons. as well as multiple fistula care teams who have also received FIGO training. Eight new Fellows joined the Programme in 2024. Fifteen other established Fellows received coaching sessions with FIGO Trainers to enhance their fistula repair skills. Some of these sessions took place in Fellows, own facilities. and others in training centres. In addition. two more 'live on-line training sessions. were organised in 2024, making a total of 13 so far. Facilitated by FIGO Trainers and focusing on a specific aspect of fistula surgery each time, these popular sessions allow direct discussion between the Fellows and trainers, and are always well attended.
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 The FSTI achieved notable milestones in 2024 includingthe following: Expert Surgicalworkshop. Addis Ababa, February 2024 The purpose of the workshop was to share ideas and discu55 new, as well as less established approaches on how to treat ongoing urinary incontinence post vesicovaginal fistula repair, with the aim of reducing/curing the incontinence and thereby avoiding a urinary diversion when possible. 2. Annual Expert AdvisoryGroup (EAG) meeting in Eldoret, Kenya, August 2024 The annual two days EAG meeting took place at FIGO Training Centre. Gynocare- Women's and Fistula Hospital in Eldoret, Kenya in August and provided the opportunity to discuss Fellow progress and multi ple issues relating to the Trai ning Initiative. 3. Surgicalworkshops, Eldoret. Kenya, August 2024 Following the EAG meeting, the project team and the Trainers of the EAG stayed on to hold a three-day surgical workshop for Kenyan Fellows in collaboration with the Gynocare team. Working directly with the Trainers, and with three operating theatres running simultaneously, the Fellows were able to see new techniques in fistula repair surgery and to further develop their skills. Additionally, equipment supplier Tim Beacon from Medical Aid joined the workshop to review the FIGO fistula instrument sets used by the FIGO Training Initiative to continue modifying and improving the sets. according to surgeons, recommendations. 4. New Fistula Training Centre In line with the growing initiative and the increasing need for more training places, conversations commenced to accredit a new training centre in northern Tanzania. At the end of 2024. an Mou was drawn up which is due to be signed in 2025. 5. Publication of Good Practice Recommendations The paper "FIGO good proctice recommendations to Standardize the assessment of outcomes following vesicovaginal fistula surgew, was submitted to the International Journal of Gynecology and Obstetrics (IJGO) in late 2024 and has now been published as an open-access special article which will also be included in the IJGO'S February 202 5 edition. The project team is currently exploring options to have the article translated into French and Portuguese. 6. Quarterly Fistula Newsletters Three FSTI Newsletters were compiled in 2024 and distributed worldwide to stakeholders of the FSTI and the fistula community. The fourth newsletter for 2024 was released in very early 2025. 7. Programme Statistics atthe end of 2024 At the end of December 2024, there were 93 Fellows from 28 countries enrolled on the FSTI, who had collectively performed more than 24.000 fistula repairs worldwide. as well as thousands of associated procedures, including 4th degree perineal tears, ureteric re- implantations and ongoing incontinence procedures, thus transforming the lives of some of the most vulnerable and hardest to reach women on the planet.
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 8. Funding After extensive efforts by the fistula team to fund raise for the FSTI in the past, in order to ensure its stability and longevity by having several funding partners, in 2024, the FSTI was receiving funds from the following three donors= l. Texas Children's Hospital ITCH) - 2024 was year 5 of a 5 year contract 2. An anonymous foundation 2024 was year 3 of a 3 year contract 3. Hamlin Fistula Australia - 2024 was year 2 of a 3 year contract Discussions with TCH and the anonymous foundation took place in late 2024 and early 202 5, to expend the funding for the FSTI beyond December 2024 with the following results: l .Texas Children's Hospital ITCH). Funding was renewed for 2025 but instead of a multi-year contract, funding will now be renewed annually. For 2025, $400,000 were secured. 2. An anonymous foundation. Funding was renewed in early 202 5 and $750,000 were awarded over three years. Accelerating Measurable Progress and Leveraging Investments for PostPartum Haemorrhage Impact (AMPLI-PPHI) FIGO is working in a consortium on a four year. UNITAID funded project. led by JHPIEGO and in partnership with PATH. Member Societies in four target countries. DRC. Guinea. Kenya and India, are working alongside their JHPIEGO and PATH counterparts to bring about an increase in the demand and adoption of three newly introduced drugs to tackle PPH treatment and management. This focusses on the use of TXA, Heat-stable Carbetocin and the self- administration of misoprostol. During 2024, the third year of the project, country teams have developed national networks of key stakeholders. working together to advocate for the safe introduction, training and implementation of these critical drugs into frontline practice. They have raised their voices through their societies. using national opportunities to build awareness and taking opportunities to build commitment to their adoption as best practice. The year saw the successful launch of 2 additional country team5. Zambia and Nigeria. who have joined the programme. All 6 Society teams have led the way in updating Emergency medicine lists, supporting the registration of supplies of the drugs as well as now developing appropriate pathways to their inclusion and wider adoption. Working alongside consortium partners. developing curriculums and implementing training in selected training facilities, they have united multi-stakeholder national networks to increase commitment to tackling PPH and opened pathways to ensure the drugs can be scaled up. As a key element of creating this pathway to scale up through this project. 13 additional societies have been connected in. The development of the 'exchange hubs. linked to each of the target countries has allowed project learning. country experiences and lessons learnt to be shared and scaled up more quickly to a wider number of countries and allowed more women to receive the best possible care. FIGO mernber societies have been connected, and they are now developing strong hubs where they can exchange and support one another.
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 The FIGO Leadership Development Initiative: Removing barriers to access and effective coverage of maternal healthcare (LDI:REACH) This grant was awarded by the Bill and Melinda Gates Foundation in October 2022 and commenced on November Ist 2022. It runs until October 315t 2025. It supports national Obstetric and Gynaecologic Societies in six countries in their efforts to improve maternal health outcomes and meet the UN'S Sustainable Development Goal (SDG) 3, by addressing targeted clinical interventions and looking at the barriers to the effective coverage of those interventions. in terms of the implementation of best practices. The focus countries are Ethiopia, Kenya, Nigeria, Pakistan, India (Uttar Pradesh and Bihar regions) and Bangladesh. The programme focuses on increasing the coverage of key maternal health clinical interventions. identifying the barriers to effective coverage of those interventions, locally. nationally and internationally and strengthening the professional society to address those barriers through four key approaches. These approaches focus on leadership empowerment, advocacy. gender equity and communication. Identification of barriers is informed by a bespoke Barrier Assessment Tool (BAT). which is conducted at national, regional and facility levels, every 4-6 months, with the aim to assess the specific context for each clinical intervention. Barriers are prioritised and tracked using a Barrier Tracker and the BAT is then repeated to monitor progress and developments. Strengthening the leadership skills and voice of the health professionals, and having a better understanding of why a particular recommended practice is not widely adopted is the key to removing the barrier and improving the provision of quality care. During 2024, country teams have undertaken 2 further BAT cycles. prioritised further key areas of focus to address those barriers and led training, developed job aids and updated national policies. A second 5 week leadership empowerment series was run by FIGO to continue to support professional society leadership skill development and a full year's. data on the effective coverage of best practices was collected, analysed and utilised for further learning. LDI.'REACH allows physicians to assess barriers to care, improve gender diversity, educate and collaborate on guideline implementation. collaborate with health care professionals and lead facility changes so that staffing, equipment and medications are available and all women can receive the right care for every birth. Ellmlnatlng CeNlcal Cancer Four pilot projects were funded by FIGO from dormant funds that were re-designated early in 2021. These projects are located in India. Nigeria. Columbia and Nepal and of the total funding of £80.000. the remaining balance was £16.905 as at the end of 2024.
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 Divisions and Committees FIGO'S scientific committees bring together global leaders in clinical practice, research, and education collaborating to drive fOard our mission and strategic plan. FIGO'S committees play a pivotal role in promoting education and research implementation, using evidence-based approaches to address key women's health challenges worldwide. In December 2024 the Board of Trustees approved the President's proposal to establish five new FIGO committees and a new division-the Division of Well Woman Health Care. With this addition, FIGO now has a total of 21 scientific committees organized under four divisions. The committees are very active and produce regular webinars. publications. statements. and other key outputs such as e-learning courses and educational infographics. FIGO funds most expenses of committees from its unrestricted funds and seeks additional funding from donors for individual in itiatives where appropriate. FIGO Trading Company The Charity's wholly owned trading subsidiary. FIGO Trading Limited. operates commercial trading activities on behalf of the Charity, including organising and managing the biennial FIGO World Congress of Gynecology & Obstetrics. occasional regional events and publication of the official journal of FIGO, the 'lnternational Journal of Gynecology and Obstetrics, (IJGO). The company made a profit of £60,554 during the year to 31 December 2024 (2023: £1,081,935). The company made a gift of £60.554 (2023: £1 .081 .935) to the Charity in accordance with its Memorandum of Association. The International Journal of Gynecology & Obstetrics (UGO) The International Journal of Gynecology & Obstetrics (IJGO) is the official scientific journal of FIGO. It publishes trusted. peer-reviewed original research. reviews and brief communications in all areas of obstetrics and gynaecology, with focus on globally relevant aspects of care and under the auspices of an international Editorial Board. Publications during 2024 included 15 papers authored by FIGO'S expert committees. which have all seen strong levels of readership and engagement. The number of submissions to the journal continues to grow up by 23% in 2024 compared with 2023 as does the number of articles accepted and published up by 12% in 2024 compared with 2023. The Impact Factor (IF) represents how many times papers published in IJGO were cited in indexed scientific journals during a particular year. The 2023 IF (announced in June 2024) saw a moderate drop to 2.6, down from 3.8 (2022), in a pattern consistent with most journals in the field post-covid.
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 Many articles are accessed by academic institutional subscribers. and a number of free access and open access articles are downloaded by a wider readership. Uptake of open access by authors seen a moderate percentage decline in 2024 to 29% (from 38% in 2023), although due to the overall increase in total number of articles published. open access has remained an area of revenue growth (increased open access revenue in part offsets the continuing steady decline in subscriptions revenue). Total readership of UGO increased by 15.6% in 2024. Education, Communication and Advocacrf Committee (ECAQ This committee is chaired by the Vice President. The committee's aim is to leverage the experience and expertise of the Regional Trustees to identify the specific needs of each FIGO region. The overarching role of the committee is to provide guidance that supports FIGO to develop appropriate region-specific educational and training activities to address these needs. including timely advocacy efforts as and when the opportunity arises. ECAC oversees the FIGO global webinar series and will guide future educational efforts, liaising with divisions and committees and FIGO HQ. Financial review The principal funding sources of the group were contribution income from Society Member associations of £441,280 (2023= £420,586), Journal income of £810,751 (2023= £847,632), restricted grants of £2.165.873 (2023: £2.836.221) The group has incurred expenditure of £2,706,472 (2023= £3,614,893) in respect of restricted fund projects during the year a5 shown in Note 18 to the accounts. The group's unrestricted expenditure for 2024 was £2.511.251 (2023: £5.486.868). The group's unrestricted surplus (before movements on investments and foreign exchange) for 2024 was a deficit of £1,048,993 (2023= surplus of £520,420) in this non-congress year. FIGO registered gains of £85,148 (2023= gains of £277,560) on its investment holdings. Income received from investments in 2024 amounted to £220,267 (2023: £280,442). Negative foreign exchange translation differences totalled £31,237 (2023.. 105ses of £302,035). The group's balance sheet is strong with a closing total unrestricted reserves of £6,114,205 (2023: £7.109.287) and healthy liquidity provided by cash balances of £3.707.856 (2023.. £4.911.687) and investment holdings of £3.188.007 (2023.. £3.102.859). Total funds carried forward as at 31 December 2023 were £8,895,872 (2023: £10,431,546).
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 FIGO participates in a multi-employer pension scheme. At 31 December 2024. FIGO'S share in the plan's surplus amounted to £45,000 (2023: surplus of £70,000), however this has been capped at £nil as FIGO is unable to access the surplus to reduce contributions or obtain a refund. FIGO recorded an actuarial gain of £nil (2023= £nil) during the financial year. Further details on the pension scheme are provided in note 20 to the accounts. The Charity adopts a prudent financial policy that aims to ensure that all activities undertaken are efficiently managed in accordance with approved budgets and in accordance with good practice. All expenditure is monitored and payments processed through a system that endeavours to ensure that any possibility of error is minimised. Principal risks and uncertainties The trustees perform a review to identify the major risks to which the Charity is exposed on an annual basis and have established system5 and procedures to mitigate these risks. These risk5 include the possibility of adverse currency fluctuations. a reduction in third party grants and donations and an unexpected downturn in attendance at the organisation's biennial Congress. An Audit and Risk Committee was created in October 2021 that functioned separately from the Finance Committee that dealt with the overall management of the Finances. In December 2023 the Board of Trustees asked the Executive to look at combining the Finance Committee with the Audit and Risk Committee to produce a single committee with oversight of all Finance, Audit and Risk related matters. This was formally established in 2024. The risks identified above are managed through a diverse investment strategy. ensuring a professional and effective relationship with the donor community and consideration of alternative revenue streams. The risks associated with the biennial Congress are managed via the Congress Organising Committee which meets several times during the planning period to ensure the successful management of the event (including mitigation of associated risks). FIGO maintains several foreign currenoi bank accounts for activities taking place internationally which are funded from donor grants. Expenditure incurred overseas is paid from these foreign currency bank accounts. thereby minimising any currency exposure. The group's principal financial a55ets are bank balances. trade debtors and investments. The group's credit risk is primarily attributable to its trade debtors. Trade debtors are included in the financial statements net of provision for doubtful debts. There is no significant concentration of credit risks, with exposure spread over many parties. A regular review is performed of available fund5 to settle debts as they fall due and active management of the trade debtors and creditors balances to ensure sufficient working capital is available to the group.
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 Fundraising FIGO has not engaged in public fundraising and has not used professional fundraisers or commercial participators. The charity nevertheless is committed to observing all relevant fundraising regulations and codes. There was no non-compliance of these regulations and codes and the charity received no complaints relating to its fundraising practice. FIGO HQ has been receiving advice from consultants with expertise in writing grant proposals in order to identify new sources of funding. Several major donors are moving to a new model where they donate money directly to the region and countries involved in the projects. Reserves policy and going concern The organisation aims to retain sufficient free reserves to ensure the continued efficient running of the core elements of the Charity. The level of free reserves at any time will be affected by the proximity of the FIGO World Congress of Gynecology and Obstetrics, which now takes place every two years. Profits from the Congress are used to replenish the level of free reserves, to be drawn on to fund core activities of the charity in years when a Congress does not occur. The trustees consider that a baseline of free resee5 should be maintained to ensure the core functions can continue for two years even in the event that a Congress is not profitable or has to be cancelled and uninsurable losses arise. Therefore, the level of reserves will fluctuate year on year but may represent up to two years, core operating costs lincluding Payroll. Rent and Information Technology). Based on current and planned levels of expenditure the level of reserve5 should vary between £2.Om and £4.0m. reducing as a Congress year approaches and depending on the result arising from the Congress. The level of financial reserves is reviewed continually by the Chief Executive and annually by the wider Trustee Board as well as by the organisation's Audit & Finance Committee. At 31 December 2024. the group has reserves that are freely available for expending on charitable purposes of £5,108,590 (2023= £6,063,225). This has been calculated as General funds. equating to total reserve5. excluding restricted funds. Pensions reserve and Designated funds. which includes the value of tangible fixed assets held for use by the charity. The reserves at 31 December 2024 are above the level required by the reseprfes policy of £2.2m (i.e. two year's payroll and information technology costs).
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 Plans for the future The Charity aims to continue it5 charitable activities for the promotion of the health and well- being of women and their children by improving the practice of obstetrics and gynaecology. As part of supporting an enabling environment for this focus. we will continue to champion women'5 and girls, reproductive and health right5 more widely. recognising the increasing attacks on these rights in many countries and the adverse impact of funding cut5. In December 2023 the Board of Trustees endorsed a plan to review the efficiency and effectiveness of each area of FIGO'S current operation and to increase collaboration and impact across the organisation. This review. and a programme of work to deliver change informed by it, is a core focus for FIGO in 2025 and beyond. In 2024 we undertook reviews of several parts of our operation. These included finance systems and capability, IT infrastructure, membership services, projects and programmes in LMICS, our publishing contract for the International Journal of Obstetrics and Gynaecology and decision- making and cost-control for FIGO Congress. During 2025 we will review our communications and advocacy systems and capability, and potential future models for our education work. In 2025 we will invest to strengthen our business development capacity with an emphasis on securing income to fund and expand our programmes and projects with our member societies and other partners in LMICS. We will also strengthen our capacity in advocacy and continue to strengthen collaborative partnerships with organisations whose goals and values align with FIGO'S Strategic priorities. Over this period. we will continue to increase the capacity of our member societies to help strengthen their voice nationally and support their role in disseminating knowledge and expertise from FIGO'S Scientific Committees. We will continue our working relationship as Non- State Actors in Official Relations with the World Health Organisation, with a particular focus on reducing Post-Partum Haemorrhage. eliminating cervical cancer. and supporting access to family planning and comprehensive abortion care. In October 2025 we will stage our bi-annual World Congress in Cape Town. South Africa. Structure. governance and management The organisation is a charitable company limited by guarantee. incorporated on 4th July 2005 and registered as a charity on 14th March 2006. The company was established under a memorandum of association, which established the objects and powers of the charitable company and is governed under its articles of association. During 2019 the Articles of Association were rewritten and adopted at an Extraordinary General Meeting held in Manila, Philippines on Tuesday 12th November 2019. The Articles of
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 Association were further amended by special resolution at a General Meeting of the Company held on Sunday 6th December 2020. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 6 to the accounts. Appointment of trustees The International Federation of Gynecology and Obstetrics has a single management body, the Board of Trustees. elected by it5 Society Members at each General Assembly meeting. Trustee induction and training New trustees receive detailed guidance on the organisational and decision-making structure of the organisation as part of their first meeting together with information on their legal and moral obligations as trustees of the charity. Trustees are also given a Trustee Handbook which outlines the way in which FIGO operates and includes detailed guidance on their role as a Trustee, their statutory duties and their responsibilities. In addition, they are required to sign a Code of Conduct. Trustees regularly consider the latest guidance from the Charity Commission and other relevant bodies on good practice and undertake such training as is recommended to them. Related parties and relationships with other organisations The trustees of the charity give their time freely and receive no remuneration other than reimbursement of reasonable out-of-pocket expenses. The Charity's wholly owned subsidiary. FIGO Trading Limited. was established to operate the commercial trading activities of the Charity and in each year of operation FIGO Trading Limited gifts its profits to the Charity. The Charity has a close relationship with The FIGO Charitable Foundation, a corporation incorporated in the State of Illinois. USA. The Corporation was established for charitable. educational and scientific purposes and during the year to 31 December 2023 its activity has been to raise funds for such purposes on behalf of the Charity. The FIGO charitable foundation receives Donor gifts denominated in shares and sells those shares for cash. which is then remitted to the Charity. During the year, £nil (2023= nil) was remitted for the project relating to Advocating Safe Abortion. The Charity also has a relationship with the International Federation of Gynecology and Obstetrics. which was established in Switzerland in accordance with Section 60 of the Swiss Civil Code et seq. On l January 2008, the Swiss organisation transferred its assets and activities
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 to the Charity via a deed of gift. The Swiss organisation ceased all activity at that date and is now dormant. Remuneration policy for key management personnel The pay and remuneration of the charity's key management personnel is established through job evaluation, sector benchmarking, availability of funding, recruitment advertising, individuals, skills. knowledge & experience and relevant salary surveys comparison. The Chief Executive, together with Senior Managers, will review budget availability for all appointments. The President of FIGO reviews the remuneration of the Chief Executive and reports on this to the Board of Trustees. Statement of responsibilities of the trustees The trustees (who are also directors of the International Federation of Gynecology & Obstetrics 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 Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the 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 that period. In preparing these financial statements, the trustees are required to.. Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent State whether applicable UK Accounting Standards and statements of recommended practice have been followed. subject to any material departures disclosed and explained in the financial statements Prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the charity will continue in operation The trustees are responsible for keeping adequate accounting records that 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 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware= There is no relevant audit information of which the charitable company's auditor is unaware The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information
International Federatlon of Gynecology and Obstetrlcs Trustees, report For the year ended 31 December 2024 The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The trustees, annual report. prepared in accordance with small company exemptions. has been approved by the trustees on 16 September 2025 and signed on their behalf by.. Dr Anne Beatrice Kihara President
Independent auditor's report To the members of International Federation of Ge(ologY and Obstetrics Opinion We have audited the financial Statements of International Federation of Gynecology and Obstetrics (the 'parent charitable company.) and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets. the consolidated 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 FRS 102 The FinancialReportingStandard 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 group's and of the parent charitable company's affairs as at 31 December 2024 and of the group's incoming resources and application of resources. including its income and expenditure. for the year then ended Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011 Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusion5 relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue a5 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 trustee5 Wlth respect to going concern are described in the relevant sections of this report.
Independent auditor's report To the members of International Federation of Ge(ologY and Obstetrics Other Information The other information comprises the information included in the trustees, annual report other than the group financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group financial statements does not cover the other information. and. except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the group 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. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: The information given in the trustees, annual report for the financial year for which the financial statements are prepared is consistent with the financial statements The trustees, annual report has been prepared in accordance with applicable legal requirements Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees, annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if. in our opinion.. Adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us- or The parent charitable company 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 directors 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, annual report and from the requirement to prepare a strategic report. 20
Independent auditor's report To the members of International Federation of Ge(ologY and Obstetrics Responsibilities of trustees As explained more fully in the statement of trustees. responsibilities set out in the trustees, annual report, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and the parent charitable company's ability to continue as a going concern. disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below. Capability of the audit in detecting irregularities In identifying and assessing risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, our procedures included the following.. We enquired of management and trustees. which included obtaining and reviewing supporting documentation, concerning the group's policies and procedures relating to.. Identifying. evaluating. and complying with law5 and regulations and whether they were aware of any instances of non-compliance. Detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected. or alleged fraud-
Independent auditor's report To the members of International Federation of Ge(ologY and Obstetrics The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. We inspected the minutes of meetings of those charged with governance. We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience. We communicated applicable law5 and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We reviewed any reports made to regulators. We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments. assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk 15 also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at" www.frc.or auditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company'5 members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. 22
Independent auditor's report To the members of International Federation of Ge(ologY and Obstetrics To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work. for this report. or for the opinions we have formed. Joanna Pittman (Senior statutory auditor) 22 September 2025 for and on behalf of Sayer Vincent LLP. Statutory Auditor I l O Golden Lane, LONDON. ECIY OTG Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006 23
Imernatlonal Federauon ol Gynecology and Obsteirlcs Consolldated siatemeni of Ilnanclal actlvrtles lincorporaring an income and expendiiure accounii For theyear ended 31 December 2024 2024 2023 Unrestricted Restricted Total Unrestrirted Restricted Total Note Income from.. Donations and legacies Charitable 8Ctivities Membership Projects World Congress journal Investmenis 7.486 46.988 46.988 441.280 441.280 2.165.873 117.5251 810.751 220.267 420.586 420.586 2.836,221 4,411.640 847.632 280.442 2.165.873 2.836,221 117,5251 810.751 220.267 4.411.640 847.632 280.442 Total Income 1.462.259 2.165.873 3.628,132 6.007.288 2.836.221 8.843,509 Expendilure on: Raising funds Charitable activilies 2.511.252 2.706.472 5.217.724 5.486.868 3.614,893 9.101,761 Total expenditure 3a 211.252 2.706.472 5.217,724 5.486.868 3.614.893 9.101,761 Net income I lexpenditurel before net gains I Ilosse51 on investments 11.048.993) 1540.5991 11.589.592) 520.420 1778,6721 1258,2521 Net gains / (losses on investments) li 85,148 85.148 277.560 277.560 Net income I lexpenditurel ft>rthe year 1963.8451 1540.5991 11.504.444) 797.980 1778.6721 19,308 Transfers between funds Net income I lexpenditurel before other recognised gains and losses 19&3.8451 1540.5991 11.504.4441 797.980 1778.6721 19,308 Other gainsl Ilossesl on foreign exchange 131.2371 131.2371 1302.0351 1302.0351 Net movement In funds 1995.082} 1540.5991 {1.535.6811 495.945 1778.6721 1282.7271 Reconclllatlon of funds: Totalfunds broughtforward 7.109.287 3.322.259 10.431.546 6.613.342 4.100.931 10.714.273 Totalfunds carried forward 6,114,205 2,781,660 8,895,865 7,109,287 3,322,259 10,431,546 All of the above results are derived from continuing activities. Thereweie no other recognised gains or losses other than those staled above. Movements in funds are disclosed in Note 18 to the financial statements 24
International Federation of Gynecology and Obsieirics Balance sheets Company no. 05498067 As at31 December2024 Thegroup 2024 The charity 2024 2023 2023 Note FIKeiJ assets: Tangible assets Investments io 1.005,617 3.188,007 4.193,624 1,046,062 3,102,859 4.148.921 1.004.630 3.188,007 4.192,637 1,044,734 3,102,859 4,147,593 li Current a55ets: Debtors Cash at bank and in hand 14 1.414.916 3.707,856 5.122.772 2.159,001 4,911,687 7,070.688 2.181,821 2,887,381 5.069,202 2,903,419 4,059,430 6,962,849 Llabllltles Creditors.. amounts falling due within one year 15 1420,5311 1788.0631 1365.9741 1678,8961 Net current assets 4.702,241 6.282.625 4.703.228 6.283.953 Net asset5 excludingpension scheme liabiknty 895.885 10.431.546 8.895.865 10.431.548 Defined benefit pension scherne surplu5 1 Iliabilityl 21 Total net a55ets 17a 8WS,865 10.431.546 8,895,885 10.431.546 Funds: Restricted income funds.. 2.781.660 3,322.259 2,781,660 3,322,259 Unrestricted income funds= Designated funds Generalfunds 1.005.617 5.108.588 I,IM6,062 6.lJ63.225 1,004,630 5.109,575 1,044,734 6.064,553 Pension reserve Total unrestricted funds 6.114.205 7,109.287 6.114,205 7.109,287 Totalfunds 8.895,865 10,431,546 8.895,865 10,431,546 Approved bythe trustees on 16th September 2025 and signed on their behalf by Dr Anne Kihara Dr Shanlha Kumaii President Treasure 25
International Federalion of Gynecoiogy and Obstelrics Consolldated statemenl of cash flows Fortheyearended 31 December2024 Note 2024 2023 Cash flowsfrom operallngactlvltles Net incomelexpenditure for the reporting period las per the statement of financial activities) Revaluation due to exchange rate movements Depreciation charges (Gainslllosses on investments Dividends, interest and rent from investments Decreasellincreasel in debtors Decrease in creditors (Decrease} in pension liability 11.535.681) 1282,7271 31,237 47,849 {85.1481 {220,2671 744,085 {367.5331 302,035 49,275 1277,5601 1280,4421 11,649,376) 168,591 Net cash provided by {used inl operating activities (1.385.459) 11,970,204) Cash flowsfrom investingactivities". Dividends, interest and rent from investments Purchase of fixed assets Proceeds from sale of investments 220,267 {7.4001 280,442 112.1141 Purchase of investments 17411 Net cash (used In) I provlded by Investlng actlvltles 212,867 267,587 Change in cash and cash equivalents in theyear (1.172.592) 11,702,617) Cash and cash equivalents at the beginning of the year 4.911.687 6.916,339 Change in cash and cash equivalents due to exchange rate movements 131,237) 1302,0351 Cash and cash equivalents atthe end of the year 3,707.856 4,911,687 26
IntefnaJonaIFedeialonotGynQl0gIanoh$Ieth Notestothettnan¢lalststements FortheyeareedjJDe¢WDher2024 Atcoumtlngpollcles al Statutory InfomiatltsTh International Fedeiation of GYneCo8y£nd Obstetncs LsachalrtaecOnWyffllted byguarantee and 15 incorwxated lntheunrtedooTh. The registered officeaddress isSuite3.WatetiooCourt. IOTheedStreet. London. SE1. bl Baslsof preparatlon Thehnancialstatemems havebeen prepared in acCordancevthAccOuntIngandRertlngbycharIbeS-. StatementotRecommended praCteapplablet0cha[1tieS preparin¥theiraccountsinaccordance Ihthe Financial Reportingstandard appbcable in the UKand Republicof Ireland IFRS 1021- (chamsS0RPFRs l021.TheFinancialRek1%s1adard aPPCabIe IntheUK and Republicotlreiand IFRS 1021 and IheCompaniesAct2006. Assets and babibtiesare InItllyreC01nised 3thist0ncalcostortransactV3bjeUesS0theri$e ststed inthe lelv4antaccountingr"cy0rn0Ie. These linancialstatementsconsoiidatethe resuitsofthecrl1abieC0mPanYand itStho1ty-thd SubsidiaryGOTT2din8 m[[ed Icompanyregistration number05PS59051 ona lineby line basis. Transactions and balances between thecharitablecompanyand itSSUtHdiaryhavebeenebminatedftomtheconsobdatedfinanck41siatemenis. BaIanceSbeeenIheo companies are disclosed inthe notesofthe charitsblecompanys balance sheet.AseparatesiatemenioffinancialactMDe&orincomeandexpendrtuieaccouM,foithe charrtaNe companyitself is notpresented becausethechaiiiabLe company hastaken advaMageoftheexemptyons3fforded bysection408ofthe CornpanlesAct2. In applYlnEthefinanclalrepongfYameWttlk.Ihe tYusteeshavÈmadeanumberofsubJectwejudgements.forexaMpIn iespectofsgnilicaniaccountingestimates. Estimatesandiudgementsaye cantlnuallyevaluated andare based on histaricalexpeyienceand otherlattors. IncludingexKCtationstslluluieeventSlhaiate bÈlievedtobereasonableundeithÈ circumsiances. The nature olthe esiimation mÈansthÈ 3ttualouttomC0uLd differliomthole èstimates.AnygnificantestimatesandjudgemÈntsaffectingthesefinancialstatementsate dÈtaiiedwithin the rÈlevaniactoUntingpocY below. cl Public benefftenity ThecharilableGDmp3ny meetslhedelinitiDnola publK benefit EntttyundeiFRS I¢Y2. dl Goingconcern ThelrusteescoDsiderthaltheieare no malenal unEertainlie5aboulthe£fvatrt8lAec(wnpatrfsatslitylocDnbnuEa5agDingconccwn. IliseFFectedthatina DDn-COnEre55year. FlGOmayoperatElh small unreslricled delicil and a150 h45 suthcienllreE ie5EryeSloen5ureconlinuedeffKn1IvTrning0f IhEcoieelemen150f IheCharity- Thetrusteesdonol considerthattheieareanysource5otestimationuncertaintyatthewetinKdate1hatknaVeaSlgncantriSkofcausin¥a materialadju5trnenttothe cagam0Unts Df a55etsand abilitreswithin the nextreporknngperiod. el Income Income Is recognisedwttenthe chadtyhas endttÈmenttothefunds. anyperformanceconditionsattathedtothe IKomÈha¥e been met.lt Iswobabiethatthe Incomewllbetecelvedandthatthe amount can bemeasured Yebably. IncornE Irorn govemmEntaDd olhergranls. whelhEF'rapit41'gr¥n15Dr'revETw'giants. isrK(gn15EdfienlheCh4tityfva$tiI1c1nentlQ1hPlUd$. atyPErfotmtn¢eGonditioD54llarhedtolhegrantshave been tTret. itis probablethatthe incomewllbereceivedaDdthearnountcaD betne35ur£d relKit4yand 15DoI Oeletred. FIGOSociety MembeiAffiliateMernbershipleesareaccountedtoronanaccwua15ba5i%. Incornefrorn royaltiesand edrtonalsupportlUGOI Isreco8nisedthenthechatityhasemement[OthefUnd5. itisprobabieihattheinc0eWrtl be recewed andthe amount can be measuied reliably. Congress Incomeis recognisedas 1ncomeintheyearthatthecgle55keSace.cOngIesSIncne receNed inadvaKeisdeferwed untilUyearof thecongress. Incorne recewed in advanceofthe prowsionota specThedserwce Isdefetreduthecriteriaf0rIcomereco8nMOnare met. fl Intest Yecelvable Intereston funds held ondeposrtl5includedwhenreceab1e andthearnoUntCa bemeasuwed rebabiytythecharitr.this norIallYupOnotiThCaon of the interestpaid orpayablebythe bank. gl Fund aE¢ouTrting Restrictedfunds areto be used forspecific purrKJsesasiaid drf*ntythe donor. Expenditurethichmeetsthesecriteriaischargedtothefund. Uniestrictedfundsayedonationsand otherincomingresourcesreceNedorgeneratedforthe charTtabiewrposes. Designatedfundsare unrestncted lundsearrnarkedbythetrusteesfor parDcuiarpurp)ses. 27
IntefnaJonaIFedeialonotGynQl0gIanoh$Ieth Notestothettnan¢lalststements FortheyeareedjJDe¢WDher2024 Ar¢ountingpoliciesl¢ontiTruedl h) Expendltuieand lYreco¥ernbleVAT Expenditure is recognisedoncelhereis a legalorconslwctwe obligaliontomakeapayThenttoalhirdparty. itprobableknatSetUeThentubereqU1[ed andtheatnountof theobligation can bemeasure reliably. Expenditure isclassrfied underthefollowingactmtyheadings.- Costs of raisingfundsreiatetothe costsassouatedTth altrngd0na1jnsandin¥estMW[maagemeThtc0Sts. Expenditureon charitable actNities includesthec0stsofdeb¥eringitsacthTDesa ser¥icesforffs beneficiaries. In includesbothcoststhaicanbe allocaieddirectlyto such aCtilies3d those costs of an indirectnature necessaryto supportthem. Otherexpendlture Yepyesentsthoseitemsnotfallingintoanyother tading Support costs are ihoselunctlons 1PtSSi51the0lkfthÈtharNyh1d0notdIieCIlyunéertake£harrtaAe3CNtes. SuprM)rtcDstslncludestaffcDsts.flnance costsand governance cosisthat supptsrtthe chaYity'SaCtiwties.ThÈsetosts have bÈenallotatedto eXperlIre¢lrt chantsbleactmthcOSIS ie&tingto apartlCulaiactNityareaUocated direttlyand Oihersare apportltsned IrYÈcoveYableVATiSthaYgedas a tost3EalnsttheactMtyfor¥thichtheexpÈndrturewaskicurred_ il Grants payable Giants payèbleaie madeto thlrd partles In furtherance of thecharWsoblect& Sm&ÈormUYÈarEr3ntsarÈatcounlÈrtrol1yhen ertheithe Yecipiemhas a ieasonabie expectationthattheywlllreceive a grant and thetrustees haveagreedt0paylhegrzntwithoutcondition.oi thereciprnthaS3lÈ3$0naee3Offt ihattheyvthUreteNe a grant and Ihatanycondrtitrn allachingiothe giani Isouisideofthe control of thecharlty. PrDwsionsfDrgrantsare madewhenthe intEnliontotDakeagianlha5 bEenc(wnmuDKaledlothErewpEnl bullhere LSUllCCrtaintyatsou1the[IheII1DingVI IhegrantorlheamDuntotgiantpayable. 11 Tangiblefixed assets Ilern50f Equipmenlare capila115ed wheielhe pur¢ha5epnceeKeeds£L.50D. Deprecialion£o4sarEaliocaledtoaclMlie5on lheba5150fthEu5eottk ielaled a55elsinlhose aclwities.Assetsare reviewEdfTri Impaiitnenl Ilciicumsl4n¢£sindiEalelheircatTrinÉvaluemayexceedthwwnelreabsabievalueandvalue iDuse. MajoriorDpoDent5aretrealeda5 a separate asselwhere Iheyhave signrficantly different pattErnsolcon5UrnPtion oleGDnomic ttsandre1£eC1attd 5eparateiyobYri15uselul bre_ Wherefixed assetshave been revalued.anyexcessbetweentherevaluedamountandlhe h0cC0s1of theaSSetl1b&Shoasa revaluation re5eNe inthe balancesheet. Depfeciation is provided atrate5calcuiatedtowtttedownihecostoteacha5setto itseimated re5KJualvalueoveiTtsexpected u5efuliTFe.Thedepreciation rates In useare asfDIIows-. Long leasehold pYoperDJ Leasehold Improvements OthceequiprnEnt Compulei equipmetrt Not<lyeciated a5recoverabieamountdeemedtoexceedcaWn¥WaIue 15years- 5tsaW line 259&-reducingbaiance 259&-straightbne kl ti51ed Investme15 Investments are aform of basicfinancialinstrumentandare initialtyrecognisedatranSaction¥dIue and subsequentymeasuied at1helrfairvalueasatt balancesheetdateusingthecLosingquoted arket price.Anych3ngeinfairvaluewiLiberecognised inthe st3tementoffinancialacMe5.Inve5tmentgain5and1055es.wThetherieabsed orunieab5ed,are combinedandshown inthe heading"Net 8ainslllosseslon itwestment5-inthe statementoffinancialaciwties.Thecharnydoe5not&quire putoptions.derdlNesorotherC0MplexfinaCiaIls1tUments. 11 Investments in subsidiaries ml Debtors Tradeand otherdebtoys are Yecognised atthesetlmÈntam0UThtdUÈaftÈianytr3ded$ti)Unt0fted. Prepaymentsarevalued attheamountpyepald nÈtolanytradedlscountsdue_ n) Ca5hat baTrkand in hand Cash at bankand In hand Includescash andShttei hIghlYuk1inveSthnlS¥1ithaSh(tMatrItyofthr£e ThnthsoriesSft0mthedate of acqUIOn Di Dpenlngofthe dewsltor slmllaraccount. ol Credftors and provlslons Ciedrtors and proyi5ionsare rEcogD15edwherethE chantyh8sapresenlobligationre5ulbngtroma paste¥entthatiUprQbaYieSLl1 Inthetransleroffundslo athiro pattyandtheamDUlltduetQ settlethe obligatiofi can be rneaSUreOestlfflteo leliab. credIt5d Pl0VNDnSarenon31IYlOiSeo41lhelrSe1lIcentaQVntatte1ogto[1tlo¢o1ScQuntsdUe. pl Financial instrument5 Thecharityonlyhasfinancialassetsandfinancialbabitshesof a knnd1hatquabfyasbaChna1aIiSttu[ents. 8asicfinancki1instrurnentsare inmaltyrecognisedattiansactionvalueand subsequently easured attheirsetMementvaLuewtththe exceptson of bankloansthicharesub5equerrtiyrneasuredatamorrisedcostu51ngueffectiYeinterestmethod. 28
IntefnatyonalFedeiallonotGynecolowandObstetrlc5 NotestotheWnan¢lalsiatemem5 FortheyeareedjIDeCtmber2o24 AtcountlThgpoUcleslconJn¢dj ql Ppn5irn5 FIGO p3rt1cipète£ inthe Royalcollege olObsteiiici2nsandGyn3eCoStspen0n Scheme ltheschemela UKiegiStetedtruSt-ba8ed pension schemeihatptowdesdelined benefits linkedto members final pensionablesatsiiesandtheir period ofsermce asamemberofthescheme_Thescherne closedtofutureaccrualof defined beneftsv¥iiheffecitrDm 31 December2014.Thetrusteesare responsible for runningthe scheme inattordancewith thesch2me'sTrustDeedand Rules.thichsetSrttheirrx}wers.TheTTuSleeS0flhesCh2MearerequIred1oacIinIhe be5tiMerestsofthe beneficiariesofthe scheme. Theyeaiethree caieEOYie501pension scheme members.. In-seNicedeferred MeMbecUrrerntyempl0yed bya parncipatingempioyer.Thesemembus' pensionsare basedoTrtheirfinalpenOnabies3Iaries atretirementoreariierdate of ieavingthe scheme. Deferred members.. thosenot currentlyÈmrAtrty3 partkipatingempioyer andwhosÈpension hasnYet starte PerMeMberS.. IDrmermembersinrecaoofpensiDn Thechartyalso partlclpates Inadelined tontrlbutlon pensionschemefortheemployeeswhojoined thecharityafterXM)3.Theassetsollhe schemèayeheld sepaYatèfYom thoseofthe chaiity.Thecostof pensioncontYibuiionsforlhedened contyibutson sthemÈ aYechargÈd tothestatementof FinantiaIAcies3StheYtr*C0Me payable. rl F¢reigncurreThcles Transaction5 inloieign rUrrEn¢IEseI[anSL3IEln1fj 5teding¥tIhEra1eCxchgClVlIE01thaleityos0C. EAGNingedrflerenre5ar¢inrluded 86SUPPQrt ¢osts. Assetsand abILitIeS1nforeign currwciesaretrans12ted Intosterbngattheiatesof exchangerubroatthebaknce sheeidate_Exchangediffererttsonthese Converon5are Included In othergains and losses. 2 IncomÈfrom Inwstmerts Toia Investment income Bankinterest 81.881 129.758 198.561 220267 28OA42 Ailincomefrom investmemsis unrestricted
International Federation of GynecoloEY and Obstetrics Notes to the financial statements Fortheyearended31December2024 3a Analysis ot expenditure (current year) Raising funds Charitable Governance Support costs 2024 2023 activates costs Total Total Staff costs (Note 61 Project costs Grant making (Note 41 Committees Finance costs 786.443 365.998 1,149,349 20,159 1,825,418 2,611.861 365,998 1,149,349 20.159 121,779 123,826 70,368 138.130 19.163 151,580 34,450 84.170 32,414 136,507 110.121 47,849 2,342.853 918,802 1,397,753 22,342 186,308 113,778 3,583,118 68,220 14.657 46,934 21,824 106,291 65.891 26,136 137,579 49.275 121,779 Journal Congress Office costs Staff training and development IT costs Audit and accountancy Legal and professional RecrLJitment fees Official representation Communication costs Depreciation Overhead recharge 123.826 70,368 138.130 19,163 151,580 34.450 84,170 32.414 136,507 110.120 47.850 2,516,143 34,450 2,667,131 5,217,724 9,101,761 30
Internatlonal Federatlon of Gynecology and Obstetrlcs Notes to the financial statements Forlheyear ended 31 December2024 3a Analysis of expenditure (prioryear) Ralslng funds Charltable Governance Support costs 2023 activates costs Total Staff costs {Note 61 Project costs Grant making (Note 4) Committees Finance costs 1,034,310 918.802 1.397.753 22.342 1,308,543 2,342,853 918,802 1,397,753 22,342 186,308 113,778 3,583,118 68,220 14,657 46,934 21,824 106,291 65,891 26,136 137,579 49,275 9.101,761 186,308 Journal 113.778 3.583.118 Congress Office costs Stafftraining and development IT cots 68,220 14,657 46,934 Audit and accountancy Legal and professional Recruitment fees Off icial representation Communication costs 21.824 106.291 65.891 26,136 137,579 49.275 2,009.834 Depreciation 7.070.103 21.824 Support costs 2.009.834 12,009.834} Governance costs 21.824 (21.8241 Total expenditure 2023 9,101,761 9,101,761 31
International Federation of Gynecology and Obstetrics Notes tothe financial Statements Forthe year ended 31 December2024 Grant making 2024 2023 Accelerating Measurable Progress and Leveraging Investments for PPH Impact (AMPLI-PPHI) Federation Obstetrics & Gynaecological Societies India Societe Guineenne de Gynecologie-obstetrique Kenya Obstelrical and Gynaecological Society IKOGSI The Sociéte Congolaise de Gynecologie Obstetrique Society of Gynaecology & Obstetrics of Nigeria Zambia Association of Gynaecologists & Obstetricians 56.230 51.570 56.963 19.922 31.158 32.944 248,787 38.158 27.717 34.943 65.698 166,516 Advocatingfor Safe Abortion (ASAI National College of Obstetricians Gynecologists of Benin ICNGOBI Societe de Gynecologues et Obstetriciens du Burkina ISOGOBI Society of Gynecologists and Obstetricians of Cameroon ISOGOCI Societe de Gynecologie et d'obstetrique de Cote d'lvoire {SOGOCII Kenya Obstetrical and Gynaecological Society IKOGS Societe Malienne de Gynecologie Obstetrique ISOMAGOI Associ8Gao MoGambicana de Obstetras e Ginecologistas IAMOGI Sociedad Panamena de Obstetricia y Ginecologia ISPOGI Sociedad Peruana de Obstetricia y Ginecologia ISPOG} Rwanda Society of Obstetricians and Gynecologists IRSOG Association of Obstetricians and Gynaecologists of Uganda IAOGUI Zambia Association of Gynaecologists & Obstetricians IZAGOI 79.500 78.386 111.991 95.760 85.022 80.184 80.346 24.879 80.257 25.567 24,877 200,896 697,788 436 270,313 Leadershlp Development Inltlatlve ILDI) Bangtadesh Obstetrical & Gyn Soc SAFOG Ethiopian Society of Obstetricians & Gynecologists IESOGI Kenya Obstetrical Gynaecological Society Society of Gynaecology and Obstetrics of Nigeria ISOGONI Federation of Obstetric & Gynaecological Societies of India Society of Obstetricians & Gynaecologists of Pakistan 74,626 85,626 112,181 68,132 78,355 82,051 500,971 53,020 110,804 105,744 113,754 92,799 57,328 533,449 Merck- Ellmlnatlon of Cerilcal Cancer: Pllot Projecl End Cervical Cancer Nigeria Initiative Federacion Colombiana de Obstetricia y Ginecologia IFECOLSOGI 10,000 10,000 20,000 32
International Federation of Gynecology and Obstetrics Notes tothe financial Statements Forthe year ended 31 December2024 Grant making Iconlinued) WHO project- Abortion and Contraception Care Together The Association of Gynaecologists and Obstetricians of Mozambique IAMOGI The Obstetrical and Gynaecological Society of Bangladesh IOGSBI La Societe Congolaise de Gynecologie et d'obstetrique I the Congolese Society of Gynecology and Obstetrics ISCI The Nepal Society of Obstetricians and Gynaecologists INESOGI The Sierra Leone Association of Gynaecologists and Obstetricians ISL4GOI 25.156 14.360 26.933 14.728 28.101 109,278 Total 1,149,349 1.397,753 All grants in both periods were to institutions Net income I lexpenditurel for the year This is stated after charging I Icreditingl- 2024 2023 Depreciation Auditors remuneration (excluding VATI- VAT and Coipoiation Tax SeiceS Audit Foreign exchange gains or losses 47,849 49,275 1,170 20,000 6,784 34,450 31,237 33
Internatlonal Federatlon of Gynecology and Obstetrlcs Notes to the financial statements Forlheyear ended 31 December2024 Analysis of staff costs, trustee remuneration and expenses and the cost of ket management personnel Staff cost were as follows: 2024 2023 Salaries and wages Consultancy costs Group Life Assurance & Income Protection Redundancyand termination costs Social security Costs Employer's contribution to pension schemes 2.009.890 1,916,561 624 21,021 83,398 292.090 205,461 2,611,859 21,879 33,103 220,875 149,811 2,342,853 The redundancy and termination costs were settled and paid atthe balance sheet date. The following number of employees received employee benefits in excess of £60,000 (excluding employer pension costs and employer's national insurance) during theyear between: 2024 2023 No. No. £60,000- £69,999 £70,000- £79,999 £80.000- £89,999 £90,000- £99,999 £110,000- £130,000 £140,000- £150,000 £150,000- £160,000 £160.000- £170,000 £170,000- £180,000 £180,000- £190,000 £190,000- £200,000 The total employee benefits (including pension contributions and employer's national insurance) ofthe key management personnel were £957,974 (2023: £771,273). Trustees. expenses represents the payment or reimbursement of travel and subsistence costs totalling £123,842 incurred by: 10 members,12023: £100,605 incurred by: 12) members. 34
Internatlonal Federatlon of Gynecology and Obstetrlcs Notes to the financial statements Forlheyear ended 31 December2024 7 Staff numbers The average number of employees (head count based on numberof staff employed) duringthe year was 3912023: 381 Related partytransactions There are no related partytransactions to disclose for202412023: none). Taxation The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's trading subsidiary FIGO Trading Limited distributes available profits under Gift Aid to the parent charity. Its charge to corporation tax in the year was £Nil12022= £Nil) 35
Internatlonal Federatlon of Gynecology and Obstetrlcs Notes to the financial statements Forlheyear ended 31 December2024 10 Tangible fixed assets Long leasehold Leasehold Computer Off ice propety improvement equipment equipment The group Total Cost Atthe startofthe year Additions in year 778,384 250,184 79,800 225,923 1,334,291 7,400 7,400 Atthe end oftheyear 778.384 250.184 79.800 233.323 1.341,691 Depreciation Atthe startofthe year Chargefortheyear 104.243 16.679 28.146 13,761 155.836 17.409 288,225 47,849 Atthe end oftheyear 120,922 41,907 173,245 336,074 Net book value at the end ofthe year 778.384 129.262 37.893 60.078 1.005,617 Atthe startofthe year 778.384 145.940 51,654 70,084 1.046,062 36
Internatlonal Federatlon of Gynecology and Obstetrlcs Notes to the financial statements Forlheyear ended 31 December2024 10 Tangible fixed assets {continued) Long leasehold Leasehold Computer Off ice propety improvement equipment equipment The charity Total Cost Atthe startofthe year Additions in year 778,384 250,184 69,799 199,893 1,298,260 7,400 7,400 Atthe end oftheyear 778,384 250,184 69,799 207,293 1,305,660 Depreciation Atthe startofthe year Chargefortheyear 104.243 16,679 17,915 13,535 131,367 17,291 253,525 47,505 Atthe end oftheyear 120.922 31.450 148,658 301,030 Net bookvalue at the end ofthe year 778,384 129,262 38,349 58,635 1,004,630 Atthe startofthe year 778.384 145.941 51,884 68,526 1.044,735 The lease on the long leasehold propertyexpires in 2990. This propety is not depreciated as the recoverable amount is deemed to exceed the carryingvalue. All of the above assets are used for charitable purposes. 37
International Federation of Gynecology and Obstetrics Notes tothe financial stalernents Fortheyearended 31 December2024 11 Llsted Investments The group 2024 The charlty 2024 2023 2023 Fair value at the start of the year Additions at cost 3.102,859 2.824,558 741 3,102,859 2,824,558 741 Disposal proceeds Net gainlllossl on change in fair value 85,148 277,560 85,148 277.560 Fair value at the end of the year 3,188,007 3,102,859 3,188,007 3,102,859 Investments comprise: The group 2024 The charlty 2024 2023 2023 Listed UK equities Other equities Other investment CCLA Investment: COIF Charities Ethical Investment Fund 3,188,001 3,102,853 3,188,001 3,102,853 Unlisted Investments in subsidiaries registered in the UK 3,188,007 3,102.859 3,188,007 3,102,859 38
Internatlonal Federatlon of Gynecology and Obstetrlcs Notes to the financial statements Forlheyear ended 31 December2024 12 Subsidiary undertakings The charitable company owns the whole of the issued ordinaryshare capital of FIGO Trading Limited, a company registered In England. The subsidiary is used for commercial activities. including the organisation of the Biennial Congress and publication of the International Journal. All activities have been consolidated on a line by line basis in the statement of f inancial activities. Available profits are gift aided to the charitable company. Dr Shantha Kumari Sekaran, Trustee and Frances LonEley,CEO, are also directors ofthe subsidiary. A summary of the results ofthe subsidiary is shown below: 2024 2023 Turnover Cost of sales 804,837 (702,725) 5,274,261 13,696,896) Gross profit 102,112 1,577,365 Administrative expenses (41.558) 1495,430) Operating prof it before taxation 60.554 1.081.935 Taxation Prof it on ordinary activities 60,554 1,081.935 Retained earnings Retained earnings brought fotward Prof it on ordinary activities Distribution under Gift Aid to parent undertaking Retained earnings carried fotward 60,554 (60,554) 1,081,935 11,081,935) The aggregate ofthe assets, liabilities and funds was Assets 1,744,143 11,744.143) Liabilities Funds Amounts owed to the parent undertakingare shown in note 14. 39
International Federation of GynecoloEY and Obstetrics Notes to the financial statements Fortheyearended31December2024 13 Parent charity 2024 2023 The parent charity's gross income and the results forthe year are disclosed as follows 3,286,990 11,535,930) 4,225,596 1284,3061 Gross income Result for the year The group 2024 The charity 2024 2023 2023 14 Debtors Trade detitors Other debtors Prepayments and accrued income Amounts due from group undertakings The FIGO Charitable Foundation- USA 171,525 61,151 1.182,240 229,541 1,547,253 382,207 170,565 155,965 7,053 1,113,465 1,626,936 839,720 1,171,536 1.414,916 2,159,001 2,181,821 2,903,419 The group 2024 The charlty 2024 2023 2023 15 Creditors: amounts falling due within one year Trade creditors 126,668 60,804 68,762 144.808 19,489 194,117 4,526 78 113,651 60,804 68,761 122,758 89,834 4,526 8,111 164,970 411,455 Taxation and social security Other creditors Accruals 177,887 411,455 Deferred income (note 161 420.531 788.063 365.974 678,896 The group 2024 The charity 2024 2023 2023 16 Deferred income Balance at the beginning of the year Amount released to income in the year Amount deferred in the year 411.455 {411,4551 19.489 52,770 1888,2271 1,246,912 411,455 1411.4551 52,736 1888,1931 1,246,912 Balance at the end of the year 19,489 411,455 411,455 40
International Federation of Gynecology and Obstetrics Notes to the financial slatements Forlheyear ended 31 December2024 17a Analysis of group net assets between funds (currentyearl Unrestricted Unrestricted Restricted Total General Designated funds funds Tangible fixed assets Investments Net current assets 1,005,617 1,005,617 3,188.007 4,702,241 3.188.007 1,920,581 2,781,660 Defined benefit pension liability Net assets at 31 December 2024 5,108.588 1.005.617 2,781,660 8,895.865 17b Analysis of group net assets between funds (prioryear) Unrestricted Unrestricted Restricted Total General Designated funds funds Tangible fixed assets Investments 1.046.062 1,046,062 3,102,859 6,282,625 3.102.859 2,960.366 Net current assets Defined benefit pension liability 3,322,259 Net assets at 31 December 2024 6,063,225 1,046,062 3,322,259 10,431,546 41
International Federation of Gynecology and Obstetric5 Ne$l01hellThanclal staiemems Forthe year ended 31 December 2024 18a Movements in funds leurrent yearl Atljanuary Expendlture 2023 Income and galns & losses At31 December 2024 Transfers Restricted funds: Adenomyosis Ask Dr FIGO- Silicon Valley Community Accelerating Measurable Progress and Leveraging Investmentsfoi PostPartum Haemorrhage Impact IAMPLI-PPHII, Non Communicable Diseases Fistula Activities- Combined Donor 7,756 4.184 7,756 4,184 28,449 201.371 677.122 46.732 79,865 7,331 36.905 110.3831 163.388 434,940 1442,8711 20.518 201,371 376,268 46,732 79.865 7,331 16,905 19,1461 163,388 290.315 1591.1691 Guidelines on prevention of Cetwcal Cancer- GSK Support Gra Guidelines on prevention ol Cemcal Cancer- PATH Support Grant GSK- Vaccination in women Merck- Elimination of Cervical Cancer= Pilot Projects ICI- International Childbirth Initiative Markku Seppala Ovidon Lecture- Ovidon Trust Grant Organisational capacity building- Bill and Melinda Gales Foundation Support Grant 120.DOOI 1.237 1.874.134 724.607 1960.0121 1.638,729 Combating Posipartum HaemorrhaEe- Bill and Melinda Gales Foundation Support Grant Advocalingforsafe Abortion Project IASAI SRH Fund Donation 124,918 179,8991 14.861 26.269 124.918 131,5471 14,861 26.269 613.317 1564.9651 Ukraine Support Relief Working Group on Challenges on care ofwomen during labour and delivery World Heath Organisation-WHO MEC Criteria World Heath Organisation-WHO- Abortion and Contraception Care Together Developing and publishing best practice advice 19,762 19,762 3,505 125,8S91 95.850 11391 1127.3161 101.457 95.850 Total restrlcted lunds 3.322,259 2.165,873 12,706,472) 2,781.660 Unrestrlcted funds: Designated Funds= President's fund President's reallocated Fund lo ICI Fixed assets fund 1.046.062 140,4491 1,005,613 Total designated funds 1.046.062 140.4491 1,005,613 General funds 6.063.225 1,516.170 12.511,2521 40,449 5,108,592 Total unrestrlcted funds 7.109.287 1.516.170 12.511.252) 6,114,205 Pension fund Total lunds Includlng penslon lund 10.431,546 3,682,043 15,217,724) 8.895,865 42
International Federation of Gynecology and Obstetric5 Ne$l01hellThanclal staiemems Forthe year ended 31 December 2024 18a Movements in funds Iprioryearl At ljanuary 2023 Income and galns Expendlture & losses At31 Decembei 2023 Transfers Restricted funds: Adenomyosis Ask Dr FIGO- Silicon Valley Community Accelerating Measurable Progress and Leveraging Investmentsfor PostPartum Haemorrhage Impact IAMPLI-PPHII. Non Communicable Diseases Fistula Activities- Combined Donor 10.108 27.061 12.3521 122.8771 7,756 4,184 47,999 237.572 &81.411 46.732 79,865 11.692 36.905 39.755 163.388 364,484 1384,0341 136.2011 1564.5901 28,449 201,371 677,122 46,732 79,865 7,331 36,905 110,3831 163,388 610.301 Guidelines on prevention of Cetwcal Cancer- GSK Support Gra Guidelines on prevention ol Cemcal Cancer- PATH Support Grant GSK- Vaccination in women Merck- Elimination of Cervical Cancer= Pilot Projects ICI- International Childbirth Initiative Markku Seppala Ovidon Lecture- Ovidon Trust Grant Organisational capacity building- Bill and Melinda Gales Foundation SLJPPOrt Grant Combating Posipartum HaemorrhaEe- Bill and Melinda Gales Foundation Support Grant Prevention ol Post Partum Haemorrhage- Concept Foundation Advocatingforsafe Abortion Project IASAI SRH Fund Donation 14.3611 150.1381 1.685.883 1.100.802 1912.5511 1,874.134 124,918 9.076 786.677 14.861 26.269 124,918 19.0761 11.622.435) 755.859 179,8991 14,861 26,269 Ukraine Support Relief Working Group on Challenges on care ofwomen during labour and delivery World Heath Organisation-WHO MEC Criteria Developing and publishing best practice advice 19.762 5.147 95.850 19,762 3,644 95,850 4.775 16.2781 Total restrlcted lunds 4,100,931 2,836,221 13,614,893) 3,322,259 Unrestrlcted funds: Designated Funds.. President's fund President's reallocated Fund to ICI Fixed assets fund 1,083.223 137,1611 1,046,062 Total designated funds 1.083.223 137,1611 1.046,062 General funds 5.530.119 6,284.848 15.788.903) 37,161 6,063,225 Total unrestrlcted funds 6.613.342 6,284.848 15.788.903) 7.109,287 Pension fund Total lunds Includlng penslon lund 10.714.273 9,121,069 19,403,796) 10,431,546
International Federation of GecologYand Obstetrics Notes to the financial statements For the year ended 31 December 2024 18 Explanation of fund transfer Purposes of restricted funds Advocating for Safe Abortion Project A grant provided by FJSI and Hewlettto support advocacyon safe abortion. Adenomyosis- Menslrual Disorders Committee A grant provided byAbbVie for the Adenomyosis Classification Project. Congress USAid- Engender Health SupportGran A grant provided by USAid-Engender Health tor support for fellowships at the FIGO World Congress. Fellowship Support Grant- Chien-fien Hsu foundalion A grant made bythe Chien-Tien Hsu Foundation to support FIGO'S Fellowship Awards in Gynaecologic Oncology. Fistula activities- Private Donornexas Children's Hospital&Anonymous Foundation and Hamlin FistulaAustralia Donations to support FIGO'S fistula activities. Fistula aclivities- Private DonorexaS Children's Hospilal A donation made by a private individual and the Texas Children's hospital to support FIGO'S fistula activities. Guidelines on prevention of Cervical Cancel- GSK Support Grant A grant provided by GSK to support the Charity's activities in the area of ceNical cancer prevenlion. including the development and publication of guidelines for medical professionals. Guidelines on prevention of Cervical Cancel- PATH Support Grant A grant provided by PATH to support the Charitys activities in the area of cervical cancer prevention, including the development and publication of guidelines for medical professionals. HPV- GSK Support Grant A grant from GSK Biomedicals to support FIGO'S work in the area of HPVbeingundertaken underthe auspices of the FIGO Committee on Gynaecologic Oncology. As discussed with the donor, the unspent funds have been transferred to a new restricted fund to be spent on Vaccination in women. HPV- Merck Support Granl A grantfrom Merck & Coto support FIGO'S work in the area of HPV beingundertaken underthe auspices ofthe FIGO Committee on Gynaecologic Oncology. As discussed with the donor. the unspent funds have been transferred to a new restricted fund to be spent on Elimination of cervical cancer. GSK-Vaccinalion inwomen A GSK donation to support vaccination of pregnant women. Merck- Ellmlnallon ol Cervlcal Cancer: Pllot Projects A grant to support the undertaking of pilot projects to determine futuie directions in our aim to support work on the elimination of cervical cancer. 44
Internatlonal Fe(Jeratlon of Gyne¢ologyaniJ Obstetrlcs Notes to the financial statements For the year ended 31 December2024 18 Explanation of fund transfer (Continued) Purposes of restricted funds Iconlinued) The International Childbirth Initiative IICII This is a FIGO Charity funded project to ensure ewdence based practicefocusing on better (biol- medical and psychosocial health outcomes for the MotherBaby-Family unit. Markku Seppala Ovidon Lecture- Ovidon Trus A donation provided bythe Ovidon Trust to support a key lecture within the FIGO World Congress Scientific Programme Prevention of Unsafe Abortion Working Grovp- Ipas support group A grant provided by Ipas to support the activities of the FIGO working group on the prevention of unsafe abortion. Prevention of Unsafe Abortion Working Group- US Donor Support grant A grant provided by a US donor foundation to supportthe activities of the FIGO working group on the prevention of unsafe abortion. WHO MEC Criteria A grant provided by WHO to provide policy and decision-makers, the scientific community. and providers with global standards for developing or updating national guidelines on contraceptive use. WHO project-Abortion and Contraception Care Together A collaboration with WHO IHRPI to work on disseminatinE and implementinEWHO toolkits on FP and CAC competency based education. Working Group of Challenges in the care of women during labour and deliver This funding has been provided byfive Corporate donorsto support the development of evidence-based recommendations and tools for care of pregnant women during labour and delivery. World Report on Women's Health- Ipas SupportGroup A grant provided by Ipas to offset the costs ofthe World Report on Women's Health. WSRR-SOGCSupportGrant A grant provided by SOGC (The Society of Obstetricians and- Gynaecologists of Canada) to support the activities of the FIGO Committee for Women's Sexual and Reproductive Rights. The grantwas originally provided to support the Pre Congress Workshop held in Santiago, Chile on 331 October, 2003 and follow up activities. 45
Internatlonal Federatlon ofGynecoloÈy and Obstetrlcs Notes tothe financialstatement5 Forthe year ended 31 December 2024 19 Purposes of designated funds President's fund The trustee5 have decided to set aside funds to undertake women's health projects. Flxed assets fund This fund represents the value of fixed assets not otherwise hel(1 within restricted funds. These have been (Jesignated as they are not Ireely available to be utilised for charitable activitie5. Operatlng lease commltments payable as a lessee The charity's totalfuture minimum lease payments under non-cancellable operating leases is as fotiows for each of the following periods. Equipment 2024 2023 Les5 than one year One to five years 5,732 5.732 7,165 7,165 20 Legal status of the charity The charity is a company timited by guarantee and has no share capital. The liability of each member in the event ofwinding up is limited to £1. 46
International Federation of Gynecology and Obstetrics
For the year ended 31 December 2024
Notes to the financial statements
21 Defined benefit pension scheme
FIGO participates in the Royal College of Obstetricians and Gynaecologists Pension Scheme (the scheme) a UK registered trust-based pension scheme that provides defined benefits linked to members' final pensionable salaries and their period of service as a member of the Scheme. The Scheme closed to future accrual of defined benefits with effect from 31 December 2014. The Trustees are responsible for running the scheme in accordance with the Scheme's Trust Deed and Rules, which sets out their powers. The Trustees of the Scheme are required to act in the best interests of the beneficiaries of the Scheme.
There are three categories of pension scheme members:
-
In-service deferred members: currently employed by a participating employer. These members' pensions are based on their final pensionable salaries at retirement or earlier date of leaving the scheme
-
Deferred members: those not currently employed by a participating employer and whose pension has not yet started
-
Pensioner members: former members in receipt of pension
The Trustees are required to carry out an actuarial valuation of the scheme every 3 years. The last actuarial valuation of the Scheme was performed by the Scheme Actuary for the Trustees as at 1 April 2022. This valuation revealed a funding shortfall of £1.7 million. In respect of this deficit, the participating employers agreed to continue to pay contributions established following the 2019 actuarial valuation of £27,500 per month, with the final payment being made in the month ending 31 March 2023. These contributions have now ceased.
In addition, all professional expenses, costs associated with administering the Scheme and any levies (including the PPF Levy) are payable by the participating employers.
FIGO is responsible for meeting 6.75% of these expenses.
FIGO therefore does not expect to pay anything to the Scheme during the accounting period beginning 1 January 2025, other than its share of the contributions required to reimburse Scheme expenses.
47
International Federation of GynecoloEY and Obstetrics Notes to the financial statements Fortheyearended31December2024 21 Defined benefit pension scheme (conlinuedl The employee benefit obligations recognised in the balance sheet are as follows: 2024 2023 rooo £'ooo 11.0611 {1.193} 1.106 1,263 70 Present value of funded obligation Fair value of plan assets Surplus IIDef icitl in scheme Amounts In the balance sheet: Liabilities 11.0611 {1,1931 1.106 1,263 45 70 1451 170} Assets Net Asset IILiabilitiesl Restriction lo realisable amount Recognised on the balance sheel Amounts recognised in net incoming resources are as follows- 2024 2023 £000 39 £'ooo 16 Administration expenses Net interest expense Total 39 16 48
Internatlonal Federatlon of Gynecology and Obstetrlcs Notes to the financial statements Forlheyear ended 31 December2024 21 Defined benefit pension scheme {continued) Changes in the presentvalue of the defined benefit obligation are as follows= 2024 2023 £'ooo £'ooo Opening defined benef it obligation Interest cost Actuarial {gainslllosses - change of basis Actuarial {gainsl/losses - Experience Other Benef its paid Closing defined benef it obligation 11.193} {1.3471 {52} 1641 iii 13 167 60 47 (1,061) (1,193) Changes in the fairvalue of plan assets are as follows: 2024 £'ooo 1,263 55 2023 £'ooo 1,428 67 Openingfair value of plan assets Interest Income Actuarial gains/llosses) Contribution by employer Other 1128) 15 (1751 {39} {60} 1161 1471 Benef its paid Closing fair value of plan assets 1.106 1,263 Net position 2024 2023 £'ooo £'ooo Opening net position Interest Income 70 81 Actuarial gains Restriction on realisable amount Contribution by employer Administrative expenses Closing net position (4} {45) 15 141 1701 139} 1161 Net actuarial gain I Ilossl on defined benefit pension scheme 2024 2023 £'ooo 124 £'ooo 171 Actuarial gainl(lossl on plan obligations Actuarial (lossiigain on plan assets Changes in limit on recognition of assets 1128) 28 (1751 15 24 li 49
Internatlonal Federatlon of Gynecology and Obstetrlcs Notes to the financial statements Forlheyear ended 31 December2024 21 Defined benefit pension scheme Principal actuarial assumptions at the balance sheet date (expressed as weighted averages): 2024 2023 2022 Retail Price Inflation assumption Consumer Price Inflation assumption Discount rate at the end of the year Statutory revaluation in deferment Future salary increases Future pension increases Life expectancy- Male (individual age 60 in 2024) Life expectancy- Male (individual age 40 in 2024) Life expectancy- Female (individual age 60 in 2024) Life expectancy- Female (individual age 40 in 2024} 3.10 2.8% 3.00 2.70 3.1% 2.70 5.5% 4.5% 4.8% 2.5% 2.5Vo 2.5% 3.00 3.0% 3.0% 2.1%- 3.0% 2.1%- 2.9% 2.30h- 3.1 26.0 years 26.0 years 26.6 years 27.6years 27.6years 28.1 years 28.8 years 28.8 years 29.2 years 30.3 years 30.3 years 30.7 years Total def ined benef it IDBI assets Investment: 2024 £'ooo 2023 £'ooo Legal & General Annuities 15,965 18,567 Trustee bank accountslcurrent assets 413 16,378 149 18,716 Amounts for the current and previous years are as follows: 2024 2023 £'ooo £'ooo Def ined benefit obligation Plan assets 11.061) 1,106 45 {128} 11,193) 1,263 70 1175) Surplus/{def icit} Asset return less expected return on assets 50