Company regi¥irn¢ion nimber. 5711851
Cbarity rqistntioD •umber. 1117431
The University of Chicago Foundation Limited
Annual report And fin*m¢i•l stst¢Tr¢mts
for the yuJr¢Hded 30 J••e 2022
'ACthUIPO*
2710712023
COMPANIES HOUSE
A18
#127

The UniYer* of Chieato Fouodatiott tAmited
Contents
Str*tew¢ DirEttm' rewjrt
1nde￿£llt a￿￿1(0￿s yep)rt
s￿￿nellI of financial xli￿lIEs
BalarK¢ sheet
13
Siatemtht ofcath flows
14
Notysto the firtartciai JwcrwE5

The UDiverJity of Chicago Found*11¢￿ Limlt¢d
oiricers *nd professional adviserj
Dlre¢¢on
Mrj R Kroll
K Tayl
CoopaDy x¢r¢¢•ry
Sisec Limittyj
21 HoJb¢qAVl*J￿l
ECIA2DY
Reglstertd •ln¢¢
21 Htslborn vi￿￿1
ECIA2DY
nker
HSBC pk
Virlryii Stred
Lon&)n
EC2N 4TR
Audltor
RSM UK Awjit LLP
25 Farringdort Street
ÉC4A 4AB
Charity #Tjmber. 1117431
C¢mp*my nunthEr. 371llS1

Tb¢ U￿Wer$Ity ofchi¢ago Found*tiOD Limited
StTat¢gie alld Directon. r¢port
The DireaoT5 pyesent their Ic￿n for th¢ yttr Mded JO June 2022 ￿ th¢ Cornpanie5 Act 2(X16 wgetb¢T
with th# ?￿j$re￿ for the year, •nd confm th•t the l•u¢r compli¢s with tr rgwirern¢nts of the Act. the
Chariti¢¥ lAc￿unt% and Reponsl R¢Ku1Dts(￿ 21111 ￿ the LhritiES su1￿ (F'KS 11>2).
R¢fev¢N¢¢ and ¥dmlalstrativ¢ A4fonn*tlo
The Chw (Cornpany Registrwon.. 5711851. Clwily c￿n￿ls￿on R¢Rithli¢)n'. 1117431) 4 sutsidilry of the
Unkvrr5iry ofchica80. i[KOrpor￿ in t￿ United Swie5 of ArncTiC4 i¥thich ft￿nded in 1898. The rtKis*Ted
offitc ofih¢ Charity is listed on page I togthr with th¥ purticul¥r5 ufth¥Chuwiiy 5 pTur¥￿￿￿￿n￿l wjvibm.
The Charity i5 a eharitable limi￿1 hy irlcfirt*￿Xttsl Ilnit&l Kitt8dnM. rÈ8i%tertl in F.n8lAnd
and w￿es.
Dirtctott *#d Cbliity Iriiitrts
The Directors are the Chari¢y Trustee5 of the Universiry of (thi(480 F(•￿￿10n Limiwl {Tr Churityry Th¢y ha
411 sttvtd in throuzhout thtytw. &¥C¢F4aS not￿.
Mr J R Kroll Ire5iqned 30 June 2023)
Ms KTaylor
MT M F M MCC(￿ (aFVOinted 01 July 2022)
Ms S Marine (resigned 30 June 20221
Nlr I Samsiein lrtsigned IS July 20211
The affairs ofthe Charity by th¢ DLwnJ Tru*<￿ ufft¥ yu y¥w **1 ov¥rn¢¢
ofth¢ Chnrity.
rntDJtt. govern••ttAnd mw¢4m¢wJt
Coverhthf Docmmevi
The Charkty is 8ovemed by its M•nor•nthm Arti¢1¢5 of AssrKiation d*¢d 16 F¢lxuw 2W6.
The University ofchlwo is &nrA)wved to m•k¢ •pp)intmeni OrTr￿e¢S for th¢ Univ¢tsity of Chiw FouvJBtion
Limited. For Ihe pciiod (nxn l July 2021 through 30 June 2022, the fdlowing 5ervvJ &%"fnww M5. K Taylor. M
S Marinq Mr I Sgm*in ar￿ Mr. J R Kro11.
'I'hrou8houi the period K Taylor held thc ofvice Presideni oth1 Gtsxral Coul￿1 at tIK Univcrsity or
Chi¢880. Ms. K T&yW$ w3iiion w held tsf ojl legal affairs for the Univetsity provith5 the TWUiSit¢ qualificjtion
for & Dire£u)T of the Chality. By *rtue of appointy¢nL to this pos¢iioD u the Univcrsity, she w45 4PPQiDt¢d a5 4
tr￿ for the Charity.
Through￿1 the period Mr. J R Kroll held th posiuon of Senior Adviw for FillarKe and Admini#Tation it thB
UnivcTsity of Chii880. H$8 ¢￿￿11Y in this posiiiw &Yov¢des the Tequisi¢¢ qyJiifKations w b¢ J Dil￿tOr of the
Charity.
Should any of kn Ditcctots thir wiiim ¥ the Vni*ersity of ChicaN the that Wsition MvJld
take their place as of the Charity ￿ing final •pprOv￿ fr￿￿ th¢ MBiDing ￿ard M£m￿r%. TraiDtng needs
ol new "I"rusLets •r¢ 4Wssed 4nd m¢L as n￿eSsIry. Upffi ?PWbinr¢n¢nL each tr￿ce rec¢ives a copy of the UK
Charity Comrni55iryJ's publication -The essenti￿ trustee.. what you nEed to know. what you need w do"
-Cb4rity R£trtihK a￿A Acwuntin8." The Fthe4Jtials" ￿ 4ttts ￿ follow t1￿. ￿oing training 15 provi¢Je41 &5
r¢l¢vani chanBes are made 10 the eithercharity comm￿10n 8uid8rt<e artd req￿reMeN5 or applicable lezisi3tion.
P•ge 2

The Unlverslty of Ckieago Foumdatioo Limited
Strategic Dir¢ctorJ' ye￿rt (eomtinied)
The Charity 15 rnrycd ty the UnÈversity of Chita80's dep*knert of Alumni Rel￿1￿￿ and Developm¢nt
{-ARD'). The tmployees ettgaged in this m*M8e4fLeth are employtts of University of Thi¢4￿, not of the
Charity. ARI) tsnployees *e responsibk for day.￿d*Y ex¥we fflwg¥neni and th¢ TnJs*¢s ¥r¢ re5ponsiThl¢ foT
thc Str￿¢81¢ overslghi orth¢ Charity. API) ufjploy¢e5 51a1sc￿￿rt in ChK•80 Jre respo￿lbIt for th¢ day.tothy affairs
of the Ch8rity: I￿ludIng the wocurullu)i of Bc￿$ arKI Servi￿ for th¢ Cherity th¢ n¢goDaiion 4nd of
nira¢t& All 4¢UVity is wovtd by ARD finllThciil staff. All wff ttkBA8ed in the ovetsiKhi and
¥p[WV￿ of xii¥ity uliimately re￿rt to M5. S mari￿ Chllrity Dir¢aor 4Ni Vicc Presid¢DI for Alumni Relations
and Development at th¢ UniVe￿Ily of Chiwo. lo the 5tnall 5izR and nature oftrK Charity thur is cuyrenily no
interrtal *tdit Ojnttion. "I'hi8 1$ toThtLnu￿1Y teview and will be upjattd 8CCOTdin8ly ls the Charity 8rowx
While rto spttific in*maJ audit exis￿ there is segrtKauon of duties th help r•Juce finaTKiai risk to the Fowida¢ion.
Ctrrcnily, all a¢¢thJntifig for the Fothmlatiott is h4￿J1￿j ty the ijntvtrriiy's ARI) offLce while si8nin8 autbority for
payments 15 the wsibility of the Univetsity's cett¢rni Financial Setyices deP&￿enl The iftdividuals who
approve poym¢nts and have bank a￿tyJnt privileges are rvx the s￿¢ ijxlividuais who rtqU¢SE the
yment4 mowtor monthly ¥iivity 4nd man•g¢ the bgnk Addiiionaily. th¢ ch￿ILY cnKage5 a consu]tant
the UK to xt as a Charity administrw. Thts thinistrator is a point of contaci on thE gr￿ in t￿ndOn and an
¥Jvi8or in matters Telated to ald.TrI￿t￿1Onal fjivinE Europe ¥tKI otkn like matteTS.
Riyk Jpwfvo8e4Y•t
The Directors have rrviewrd the major risks Eo whith tk CIMrity is tx¥ose4 in coftjmion with the overatl annual
ttview of Ihe risks and unr¢rtwnti￿ of the Univcrsity of Chicago. Directors are wnr¢nL wIth th¢ PTocaure5 th&t
ve e5tablisld to mitigate tIKbse ri*& ThE foilDwinB risks x¢ mxAgul by the UJ¥ity:
Ewnomi¢ hEo¢th o[pr¢)S￿CL pool
Univerrity of Chiwo Fo¥￿1(￿¢•￿1nUtS w t¢view%d *% • wxrfthwhiie forphilthTOPiC 5VPPOrt
Ftrogram5 inits*sves SUPE￿¢d by the FoUn￿10n wtmain erficitig ¢odonots
The Fothtduion. th￿¥h thc Umiversbty of Chwo. is contithualfy idetttifying L*W wospe£ts for solicilatiort. This is
done ITh pArt thrw8h ￿tenSIVe rese4￿h eifort> Addiuonally. 4$ more sfvdents matrI￿￿*t ¢0 8raduate from the
University of Chiugo, rw in the WBY of xudEnts afvj F￿1& Id￿lIf)ed. The pool 15 a group of
rK05pecriv¢ donor5 that i$ constan￿Y ¢hanging PTQ5P¢CLS are klu)tifi¢4 4nd rrthed the pool and ¢urr¢nt
Jxospects Dre rcryaluat¢d for th¢ir 4biltry willLfi2l￿5 EQ gJv¢ •n4 kH* in th¢ pwl or Trovryi out of it ¥cwdingly.
A close relationship with tt￿ Uttivetsity efiwre5 that the (1)J￿i¥¢$ of Iht FO￿datiOn will ￿lti￿￿e to b
ewtd 18 a worthwhile ￿rne for ph1laThthrop￿ SUP￿ atKI progr*ns a￿1 intliatiVCS SUPPDrted by the
FouTrJat&on remwn en¢icin8 ¢0 thxo]x The JEi￿lOnShip ￿twe£ll the Univws¢ty atbj the Foundation is critical for the
Faundation th m￿age Ihe ri*s Id￿tir1ed atthe. As I(￿8 as Fow)dation and Unive45ity objec¢ives [em￿ll ali8ned.
the risks id¢nwfi¢d abov¢ will b¢ minimiz¢d the philaniPffopii inw¥csts of the prosjxu pwl ￿11 align the
oals oFth£ Cknrity.
gbl¢¢tiv¢s •od 4¢tlvllks
Chvknble objetth
The Univer*ry of thirago pro￿deS pro8rnms ￿ xii¥ities th offer a rich and divene edu¢Atiord envirnmjent for
tts 51udenis 10 pioneer reseatth that pusl*% the Ix)undatits of cur[t[￿ kntwledge. A L￿tiCal ekment of thi$ activity 15
the necessary funding. The wimary objttrive of the Cl*tty ty to *fvÈn¢* edu4tion. in w11￿LIar by Providing
gran¢s ￿ the University of Chicago io Lthr ed￿8¢](￿￿ in5tlthtio￿ W a55t# in tk advEnEfflnenl of th
educa11￿ of #udtrrts att£￿1￿8 the irtS1itsrtion. This ihtre&*l supwrt will advance univu5ity initialive5 throuKh
trovision of resoU￿eS for unrtstricthd exrn wiaj proj¢cts {i.e. capitsi n¢cd5) Jnd EThdowThen
towards specifie purposes {i.e. fit*nEia] aid, KhoJatshÉps. lwDfe￿1ShlpS Aj￿ re3earch). This putpose dire£tly
ontribur¢s to the iymefii of gi¥in8 an educatiortto the wbli

The Uniyenity of Cbiwo F￿ndatIOn Limlted
Siralegie Dire¢tor4' report (tontinued)
The main objectives of th¢ Chavity for the yur ended 30 JuThe20f2 wrT¢.'
To suppon ihe ￿blIC benefli initiative5 ofthe UTh1￿ty of Chic
To raise fvnd5 for * Uoi¥usity of Chi¢•go ￿ ftwth¢r •dvthJc¢ tlK ￿lIty10n pwcerams atwj aaivilie5
•v4ilabl¢ to th¢ public UK
To otTer UK citizeThs an a¥¢￿£ for givin8 with Fet5oDal ￿￿￿'fits
To kcep UK Alumni Conr￿ wthe Univusity ofchiwo th a me￿Ingful w8y
Ensfft that donor5 arc awarc of the Ixnefils of 8ivin8 through ttK Charity", benefits such as Gift Aid and
Id¥-effi¢ieni giving from other p*ts of Europe. Stsy Conne￿ed with UniveJ5ity •Jwrtni and frientLs to £[
university gtyj mi55iM Brt clearly ¢onv¢y¢d LQ these 8row. Id¢Nify -1￿. alwnni and 10 l*ip
increas¢ n¢twth of potential suppytty5 olthe Charity and the University.
The University of Chi<aELI 5wnso￿d a of rtl*iw5 •nd donar culiivation cv¢nt5 in ihe Uniwl
KiDgdom. Alumni from Many diviyo05 llnd 5chotsls of the Univ¢rsiEy of Chi¢aKo WEre rcprcsell*d These evenrs
gave the Charity an oppJturtity to coJ¥n# with prospects wlLik t(rtmthi¢4tin8 Chority obi#tives (o prosp¢aive
donor5.
Review•f Kkjevemewt* hrthÈ yeAr
The FowLdaii*)n targets ilwnTri and friemds of the Univerriiv of Chicw. in¢ludiTrg rweDt& of dumni,
forn¢r faculty and prior non•alumni doThys. The funthw5ing t¢am rDanagcd evenE5 And organized solicitati￿5
throughwt the year to than¢e the obje(tivEs of the Chan"ty. These evertts and ￿1VIlle￿, along with onc 10 one
me￿10￿ with donors build Mnne¢tions Within the Untversity of Cthica80 wmmuntty while fo9￿n&
envwonment wh¢th enwages philarLthrnpi¢ with th awity.
lrtanddmrfew I￿dre￿1￿/0r theye•r
Fundrrisin8 Ptogress the Y￿ sKc¢&sfully ¢xcecded dLe cost of dtyn4 Fw ts f15cal yetr £730.94410s
re51ated 2021.. £1823.2461 by ￿ Clwtly alumni kn)thJled £3628612021..
£35.630) whiGh inGlu&s go&trnanLf supporttosts ts￿k ftt
The COSL per pound rdixvj rdliu i¥ than I￿£1 r￿￿]. Thi¥ inarks ￿N￿ltiVe this rauo w8S
less thHn s￿£[ Aised. The Charity Ws arbIt¥￿¢ts w￿81n this inw the forewable fiJ¢we.
During th¢ fiscal yts the Chan'ty w&$ able 10 make dO[￿lOn$ to the Univtrsity of Chica80 fw obj¢ciives
laid oui in the Founts1￿.5 wTill￿ resolLrtiors> ikn¥iotvs by the Ch•rity during thi5 fixal pcriod totalkd
£854,286 (2￿1.. £2,968,56S). Charitsbl¥ M￿Y¢lY iti a given y¢er LS ditt£tly reLryted to l]J¢ fU￿￿L51n& prouess in that
given year. As a resuli. fl￿W¢on in the I￿1 of charii•ble a￿[vILY can be expwcd fimthAisinK fltsc(u•ks.
)ritthl¢ ¥tivili¢5 in FY22 wer¢ Split am[X￿ th followi￿ writt¢D rewJuti(Mts as ddailed belov.
l. Endowrd Scholar5hip5- College:
53.121
2. Indowtd ￿OlarshIpS-(￿hCr.
£174.138
3. 1*08T*nmati¢ Supwi..
4. Annu￿ Fund Supt¥ffi".
£421,731
£5.296
Pa8e4

Tkne University of Chiwo Fo•ttdAtiM IAmlted
Str*lw #•d Dlrertor8' r¢w)rt (¢ootlJll¢d)
Reserve poliry
The Charity s prirn¥y obj¢dsVe 15 to colle£t aThl trj tht Un￿￿$￿ty of Chicw and ￿ other
educationd in5WWtiThJs. In considering the i*rget i¢scrves to be tLeld by the Charity. the TtlJStees recognize that
admini51r&tive otrrnti(xd costs are nminai ￿ lat¥ely non ¢ontrx¢ual a￿] the Charity dtt5 no¢ 5c¢k to
r￿dS for growth or firture proje¢LL Thty have thrnbined that reseryes sknild b¢ minim¥J at w ￿TILKI ¢n
only reflectlng A $h(xt temi ¢imithg differe￿e teiweth of irKom¢ a￿1 paym￿¢ of o gr￿1 ato 10 rn4iTrtyin
adequate fu#ds to cover rM)minal knthual ex￿ At 30Jurt 2022 the Chwity a swplus of £628.938 (2021..
£798,301188ainsr reseThes. The total •noth)t OF fi￿¥1% held by th¢ thrity on 30 Jun¢ 2022 ￿ h¢ld os r¢striri¢d
filnth £610.404 {2ff21A796.880} and £18.534 (2021th1,421). The Charity gJPPDrted in its day4tsday
obliwions through its p•reni wmp•ny. ts UDivusity of Chirw. Th¢ Univusiiy h&5 corntnitt￿ to rAoviding
SUFvon to th¢ Cl4rity w ¢n/bk ii ￿ meu its shorn ￿)ImentS a5 they fail due.
Future plans
Fuwrc plans incltyje ¢￿Ill￿1ng to"provide art avenue fcrf giving from the UK across Europ¢ w suprffl the
prosrams ano aciiyiiies of Ihe University of Chi¢ago. To do this thc Charity. wj cocrnion with the University of
ch￿980 will host alwnni srthi even(% to ¢ncow engJgrm¢ni Trrrith th¢ University. I'ks¢ ev¢nts wll
include atmu¥ r¢c¢piions for new 1¢oJrES and prtvllt¢ dinn￿ with kry pr05pert%.
P#bUt benefit
We have referred 10 the 8uld￿e ¢onttined ift the Ciynmissim's 8Mern] on public b¢nEfii wh¢n
reviewing our Aims and objectivu and ITh piaftnu￿ our firture ¢)bjectiVC5. In partbcular. the 'fr￿e¢S ¢4)nsider how
pl￿ned aaiviliej will unlribuLe to the aims aThJ objectives tky have set. Conrinuin8 to SUPPOrt the iniliatives laid
oul in the Charity'$ written Te5tr1utiiKL5. including granling scholar5hip4 gtanling professornhips and offerlng thr
areas of fIn￿lI1 suwort to hi8her tyJu¢auon irtstiruuoLK i8 COthDIIUUW lo support the public bettefii ofadvancement
of education. These funds will provide both ftsrm￿ ed￿&110￿ as ￿11 8$ te*ar¢h whith add to the coll¢ctiv¢
knowled8e ¥nd undvsthnding of specific aTe4s ofstr￿.
Distlosutt ofiThform*iioA to *MditDr
Thc Direttors who held offsce at the date of ¥￿Val of Dirtrtots, Rwrt confinn thal so far os they afe tach
aware, there is no relevant a￿111 inforrn*ion of whith the Charitable eompany's audiior is LThWW. and cach
DiTecior has iakert the steps that Ihey tyJghi 10 have thken as a Director to Thake themselves of any releYanL
it infornation 4nd ro e#•bli5h that the Chuithbk comF•ny's isawue of inf0mi￿10n.
P•¢e 5

The Unlverslty of Chicago Found41ioD Lamiled
S¢rAtegie and Dlrtttors, re￿rt (¢o•ti•wd)
St*t¢**Mt of Dlrtttors, respollsibilities IN re4￿ of the Trustees, repDrt*Jd tbt fill•nei*l stxttmtttts
ThB DiT¢CtoJs art TesponSLble fw p￿￿1r% the Annual arnl thE *Ht#Th¢nL% in XrLnrdart¢ wjth
Iic4ble law •TrJ regu18¢i￿
CoMp￿Y l•w requir¢s the Direc￿rS ￿ Wep•￿ financ￿] Mcmcnts foT e￿￿ financ$￿ ye•r. Under thai lawthey hve
w¢ rtwir¢d to prepsTe the rin•rKh￿ in wth Unitrd Kingdorn SwdArd5 4nd
applic4ble (United King&)rD Genaally Awed Acayjnting Pr￿l(¢1 iThEIL¥thtbg FRS 102 'ThE Finorycral
Repor1{￿8st0thdUpP11CQble In Ihe UK and+tepMbltc rflpElantr.
Llrtder tompany Lgw the mi& rK)i •ppm¥e th finAne1￿ ￿H￿ett￿ IW att 4tisfI￿ thAL they give a w¢ and
lair vicw ol Ehe st* trl"atlairs ol. th¢ L1witabk ¢omwny and of tk eA¢e59 0( income over exp&wliiwe for that
pers￿. ID prtwingthese fInanCi￿ Slat￿en￿ th¢yiTe¢tors are ¥equired th..
Select suitable account￿& pilicic% and apply thcm um5iy¢NIy
make judz¢m¢nts aTrJ ￿lma￿S that w¢ rt1xrf￿bk atml
Bsses5 th¢ Choritxble £cffjpafty's thility to rontsr4JE &5 a going wrKrm. di￿1(61n& ￿ •ppliciN¢, mdl¥s
to concern.. and
the ￿1￿& tortctrn basis of lmltss thy ¢itlKr intr￿1 to liquiddc the Ch&Titabl¢ ￿￿p￿Y or to
eEa5e OPeTations or have tbD tealisric ajtrrnarive 10 dos0.
Th¢ Dir#tor$ are t￿￿]ble fw keEping adequa* xcoutiting reco￿$ that are 5uffic*nt to show and explain thc
aritsble ¢L￿panY'S ir5[￿cti(￿s and dis¢lose wtth rt4sotRble acvjracy ar ￿Y lime the financial w$ilion of the
Charitabl¢ cOmp￿Y and enable them to t￿￿E that the finan¢ial ￿em¢n￿ Comply with the Com￿￿1¢S Acr 2006.
Th¢y 4r¢ ￿pOnS71 >le for s￿h inicrnai CODrrol a% they de*rmin¢ is n¢re&wy to e￿ble the prep8rntion of financial
stiiernents Iha¢ art frte from Materi￿ mis5thtrnrtni due w fra￿ or error. and have 8eneral res￿5]bIlity
for taking swh sws as art reasonably open to s*fegu•NI the ￿sets of the ch￿l￿ble compw io
prev￿1 and d¢t%i fr4ud and L*htY irrtgulariii¢
The Direrfo￿ 15 rt4*ytsible for th¢ mainThanc¢ aDd integrity of the Corwr￿ and fin￿l￿ infornyation in¢ludEd on
the Charitablr c(xnp3ny's Lrgi51wion in th¢ UK &OVErning thE pr¢pJrniion dis5win?tion of fintyial
5tst¢menLs w differ trom Icgi51*ion in oilxr Juli￿1￿110￿5.
uditor
of Ihe petsons wkn 15 a thTtctor It t￿ d* of of this rtwiconfirnis th8t.'
30 far Bs the Diye¢tor is aw*r4 tkn is N+reltrgnt audit intthm*ioA of whith Ckntsble ¢omp*ry's auditor
is unaway¢"
the DirL%¢or has thken all the s*p$ ihai OD8hi ￿ have taken as a Direaor in ordu to tnake hEmselfrht￿C1f
Swart of ony rcjcvartt 8￿j11 in(Crfma¢l￿ and w uublish ¢hat Charitsbbe Cthnkxny's auditor is aware of th
infonnB¢ion.
Py6

The Univtrjity of Chle*to Foll*d*tio• Limited
StrAt¢ti¢ and Dirt¢tor8' report {¢thitioued)
Audilor{cryi¢lD¥rf)
This c0nfinn4tsl￿ giveTh and Should be intcrpth in wi¢h the povisions of Section 418 of the
CompBnic5 ACE 200
Kim Taylor
Director
Univetsity oCChi40 Fthjttdatim Limited
Lffldon
ECIA2DY
P•g¢ 7

The UnlY¢r4ity of Chicago FouDd•tioD Limited
1mdeptttde￿t alldStor'$ r¢p)rt to the members of
The UniveT5ity of Chicago FouDd#tioR Limited
We have audited the financial sratemcnts of The Universily of Chi¢a80 Limited {the '¢haritable
comwLy'I for the year erKkd 30 June 2022 wli¢h inclth the S¢atcment of Finan¢ial Adivities. the Balance Shttt.
the CL8h Flow Statement and notes to the financi*l #a*M￿r& irtluding significant a¢cr￿n￿ng policies. The
finaJKiai yepoETin8 framework has been applied in their weFornion 1$ appli¢abl¢ law Unitcd Kingdom
Accoun¢in8 S¥¥ndwd4 iKludin8 FRS 102 Tr fiNr*i￿ Rcporrujg Sthndprd 8pplKabl¢ in th¢ VK and Il¢p￿blIC of
IrelaDd'{unit￿ knngdom Gent￿lY Acctpi¢d Accouniing Pr&uic¢).
In opiniM the financ￿1 sthtem￿.
gi￿ a Md falr vi¢w of th¢ srw¢ of th¢ ¢hAritabk c(rfnpThy's aff•1￿ * •t 30 ￿ne 21)22 of its intomin8
r¢sOWffS"3nd applicati4)n of r¢sourw its iwe s[￿expendi1UT4 for thE year then ended.
have been proF¢rly WeF￿ed ITh ￿cold￿￿1th UDiwJ Kingtkn fj¥w411y Agxpted A￿￿￿11[* Prx¢i¢¢" ohd
We conducied our wjdit irj acwrd¥nce with Irrtemwonal Sr•ndwd5 1)n AuditinE IUKI {ISAs (UK)) 4Dd applic4bl
law. Owt re$F#￿sibilitI¢S undcr are fuither descriw kll the Audio￿$ tE5tx)n5ibililies for the audit of
th¢ financi￿ slat￿£￿15 section of our W We &tE indyrtht of tt￿ charitsble tomwy in *ccordanct the
ethital requirements thai aTe relevant to our awlit of the fin•Kial tn the UK. In¢￿dIng thc FRC'S Eihical
Stattdard 8nd have [￿rilla trjr otkn dhiui reSp￿ibIlI11es in o¢mrdoTrct with thes¢ requirtmcni> We belie
thalthe aL¥th'¢ evidrnc¢ we have obthin¢d is 5yffi¢i¢N and wropri¥¢ w providE ¥ b•5is f(w our opini¢m.
C•lltluslon$ r¢lAiin8 to 8oiA8 ¢on¢er•
In *Ldilin8 th¢ firw*ial the tnJsKes' •J5e of ￿ 80in8 eon¢¢rn t•sis of
acc(vJntin8 in the pre￿10￿ ofthe fit￿￿al is •pprowa
￿￿ed on the 14•xk ￿ trthe Frformtd. t4t hove noi idcniificd Iny matrriaj ￿¢¢￿in11¢S fclNiing to vcnrs or
diiions ih&. Individu￿ly or Mlle¢rivdy. may cam 5iznifLcaThi ¢knkbt on d* charitabl¢ tompany's abilily 10
¢C411inu¢ w 4 80in8 crmc¢rn fry of * le¥L twelv¢ motth frm whe4J thE fjn•nciai 51atcments are author￿
for issu¢
Ow rcswrLsibilili¢5 ond th¢ r¢5pxsikn"kntiu of UYtruxtt¥ with togOi￿￿rvrn arr4wri￿ in tht relev8ttf
sectio￿$ of ihi5 r¢rAm.
Othtr ittformtlon
The other infomiation comprises inform￿lOn incluthd in licpon other than thE financial #atements
and our audiwr'j f¢p)rt tkTeon. Th¢ W5L￿5 f¢spDnsibl¢ for the oth¢r inf(Thation contsined Y￿thin the Anrtu
R¢porL (￿r opinion on th¢ fJn3nrial sraternents does covtr the other iThfomation exeepi 10 the extent
rwiS¢ wlicir]y wr r¢m wt do rtot expTess any form of a$￿aTh￿ ConclusiL￿ thueon.
P•8e 8

The Univernlty of Chkyo Limittd
Indepe#dent auditor'$ r¢pDrt to th¢ m¢mb¢rs of
The Unlversity of Cbicago Foundadon Limltfd {CODtinued)
(kn reJprffl5ibiliry 15 to T¢ad th¢ Ixhu infrym*iw and in doing go, ¢(￿IdEr the other information 1$
mattrtally inwrn5i5t¢N with th¢ 5ty1¢mML5 or our kwwicdg¢ L**wn¢4t in r4wr5¢ of th¢ dudit or
theMsE app¢Brn to bc materially mi&slated. If idcntify gKh materia] inconsistenues or apparcnt rnatcrial
mi%8tsrements. wt are rquired to dErennine wJJEther thi5 KIVW ri5¢ to a m4Laiai iD the fIr￿n¢1
sta¢ements themselves. If. b8sed on the wjrk have performrt ¢on¢lude there is a material mismemeni
of this informauon. ￿ are required to reFthtthat
Wehave rt0thll￿ to report irt ￿Z￿rd.
Opitiioths •th*r ￿tter$ PTtstribed by tht Cothpllits Ad 21M)6
In our opiwot4 on the w(xk wJdertEkett in the C4)ur5e olthc a￿lIt..
the Inf￿at1¢)n 8ivcn in the Dirnor5' R¢poo whid) indud¢5 th¢ Dir¢¢¢w5' Report aThJ th¢ Swat¢gJ"c R¢p)rt
pre￿￿1 for the purpos¢s of romr•ny knw, fw th¢ fin¥Ki•l yw for whith thr fin¥%4￿ sljtcmc￿ •rc prwBrcd
is consistert( with the fi￿anti￿ Stattrn￿ts' and
the Dircclorn. Rwrt th¢ Str*RiC T￿in th¢ Dir￿￿15. Report ha￿ b¢cTh ￿pared in
accordance with applicable legal rrquiremert
Matt¢TY On T4hicb Ive #re required to report by ex¢¢p¢i
In the light of the kTh)wled8e 2nd of the ¢harttsNe company its envirnmeni obwned in the
coutse of ihe audiL we have not identified m/teEiai miS5Ea*ffl¢n￿ in the Dir¢aors' Rwrt ljr the Strategic Rcport
In¢l￿Aed within the DIrectD￿ Rep)rt.
We have nothing to r¢pon in r¢sp¢aof the followin8 m*ters whue theComwie5 A¢1 2(￿6 Tequire5 US tolek￿
you if, itt ow otxnl￿'.
adequate accthAnlirtR re¢Èrt% h4V¢ t¢¢n W or th4u•* wr •udii kne not been rtteived from
b1￿CheS not visited by ￿- or
e¢ftain di5clo5urEs of tnL5tces' S￿lf1￿ by law ore m*Je: or
we have not re¢eiv¢d 411 the infonn¥ion and rXptsTr￿1Ons ￿ rtqUiTe for our *tyJiL
RuponJibilltlu •f ¢ywt¢
As ¢xplwn¢d more fvlly in thc Sth¢¢m￿L of re4xwibilities stl PJE¢ 6. thr tru*¢ts Iwts) 4Js0
the ¢hre￿or5 of thr thariwbl¢ company for the of company Isw) are rewsible for the prEpararion of the
fi]w*ial 5tat¢rn¢nts and for b¢in8 wisr￿d they w¥e a and hiT view. and for 5udi internal control a5 the
tr￿￿e8 deterniine ner£sswy to enable the preparati￿ of fina￿la[ Ststrments ¥e free frorn m8teri
mi55thremeNL wtLtthu due to frttLKi orcThor.
In Fxcparing th¢ 5t*un¢nw the D￿e￿Or$ ¥e rest*xtsible for wes%JnK thE dJtritsb12 ¢(Knpany'$ •bility 10
Cotltinue ¥ a going ¢orK¢rn, di￿10$1n& &$ appli(able. relattd to going concern and ￿sing the 8oÈng ci)nccrn
basis of *COUThEiThR w)1￿ th¢ ￿Slee$ eithw irtl￿d to liquidate the clwttsble compw or to c￿e operation4 or
have noredistic ￿ter￿live todo 50.

Th¢ Univeralty of Chicago Fo•ndatiOD IATrited
Independent audilor'j Tep)rt to the m¢Jnb¢TS of
The University of chi￿gO Fo￿Nd*tIOn Limited (¢otttin•ed)
A*Jltor's ￿4￿*sIbIlI￿O for Ib¢ •MOit of tht st•¢eThents
(hr obje¢ri¥es are ￿ otrA8in tewnable wJr*Ke th¢ fin￿la7 a*ements os • Ithole are free from
m•tuial misv¥n¢nk wthether due 10 fra￿ or err￿. aThl w Is￿ SD A￿11￿)r'S report ihlt includes 4)ur opini¢)n.
Re￿nable aSVX¥Ke is a hith level of ￿ura￿A Ixrt 15 a guardntee that an ￿111 w￿￿¢1￿] irt accordance with
ISAI {UK} will al%vavs dts￿￿t tt Ma￿1￿ misAknenl it txists. MisstatC4nents ￿se fvom fr￿d or Cftor
and •xe considered ma*rial it., iTrJiVid￿ify or in the aggrega￿ they could Ye85c¢wbty be expecred to intlutnc¢ Ihe
¢corLornic &cistonsnfiLEets rRkeTr the I￿LS r9fth￿e fivancia]
The exthnl towhkk the co•sidtr¢d t•pJblt of dettt¢i•K w¥eplthtit& intludillg frnud
IrrcBularities atc insrance5 of Mrt-¢ompliance wth law5 and Tegulati￿& The objeciivc5 of our audit are to obtain
suffitheni 8PPTwate I￿11¢ evidM¢£ Nx•r(ling com￿1￿￿t. wiih And rtgiil*iinrt% that hAve A diyect effttt the
dt¢eTh¢n•tion of inat¥ial am¢NJnt5 aThl di￿10$ur¢S ￿ th¢ sw¢tr￿lI to F*rfomi gudil procedures io help
¢ntify instanc¢s of Th)nacompliance with other laws aThd re8uiations m•y knv¢ a tThat¢rid effLYt on tr finwKiai
ststtmenis. to Tespond ipprowiatrly to idthtifityj or sUsp￿d TbOTrvcompliarte laws aTrJ regulations
¢deniif¢ed dwin8 the authL
In relaiion to fr¥ud, th¢ Obi￿tIV¢S of our ¢0 identify thE risk ot. m*¢rial mi5yatement ot'th¢
fin￿￿19] 5ratements to ftaud. io oiAain s]fFi¢i¢N apsx¢wriatr avdii evidentt r¢gardin2 ihe t<se55cd risk5 of
Materi￿ missratement due th frnvj thwv8h dtsigtiittg respjrbsts and to respond
owropria¢ly to haud or SUS￿￿￿ Iraud idtsiified durihg the audiL
However, ¢1 is the primary Ttspc4k5ibility of man*wn￿l with the o¥usigM of ￿xt ¢hW with 8oveman¢e, to
we that fv •niity'% ynlinrL% xrr. rjbndithd in accfirdw￿ with the ￿*V1￿1n￿A Thf laws llnd Tcgulatiows And for
the prevenii(xJ *nd detcclion orrJau
In identifying and riths of m*iaJ mis5tstall*tt ih res￿( of iryuiarilic4 includihg fi*xl, the audit
entaeemeni tr4m'.
obtained an understandin8 of th wute ol th sedor. irflwJiD8 the le8al artd reBulaiory framcwork thc
ctiaritable comwiy OFmtC5 in 4TrJ kn the ¢haritsbl¢ ¢ompmy is ￿pIY]￿l with the aTrJ regu]a
rrdm¢w(rt'
ijwuir¢d of managemenL arnl those ch¥g¢d with goV¢mw￿¢. their own idenufir4tion pnd 455essment of
thr riJk5 of iffvgulariti¢4 includiDK any F￿￿￿. or allyd ityanc¢5 of frz]J¢"
disa1s￿ mas¢crs about nOn￿p11*￿t with I•w5 4NI TegulatiiNJs *)d how fT4JJd migh¢ t￿lUding
aS5Ls•nent of knw Bnd whue finanoal siaternents may be 5wiblc to frawL
As a result ofthcse ￿￿edUr￿￿e Co￿lderthe si8nifi¢ant laws arml r￿UlatiO1￿ direct on the
financial 5taternentJ uc FRS 102. Charities SORP IFRS 102). ComF￿1eS Act 21Kkn, and the Chwities Aci 201 l. We
rformed ￿dit pr(*eduyes nonrfompliancts whith may h*K # mtiterid imF4th on the finan¢iaJ statements
which r¢viewing th¢ financia] 3tsltsn￿ts wlLhlin8 Trustces. ￿tF￿rt. rtmwnine akrt to new or unusuAI
anwljow whith not bE in a[C(￿dance &ov￿)ng dOcumtn￿ InSp￿ting ¢(ryondth¢¢ with li
athriues and evaluating &lvice wived from in*rnaVeKternaJ &h"is
W¢ did rtot id¢nlify any si8nifitani Laws arml rEBUI￿ havc ￿ i[￿lired imw on th¢ fit*￿78]
sta*men
Pa8e io

Tb¢ Unlversity of chi￿%0 FoulldalioD Limit
Ind¢peDdeDt auditor's report to the meJDlxr5 or
The UniverBIty of Chie*eo Fou*dAtioti Limlted (eoatinued)
The audit en888cment Itam idert1if￿ th risk of M￿l8￿￿ent oveftkde of Controls & income rwition as the
art4s whwe the financial statunents wtre m¢)st SUS¢Wibte to ￿￿ella1 Misstatemtt￿ due ￿ fraud. Audii procedures
perfcrn¢d included bu¢ were noi limited ￿ ies¢ing Jownal tntsics afyj ¢xhtr *JjugttnMts. ¢v￿U811￿B the
bu5in¢5s fdiional¢ in r¢l•rion ro signific4nL transxuoos aThJ tr8ZLWtic￿s ￿[ed into outsxde the nornlal
Xsrse of b￿sIneSS rEviewin8 th¢ I￿￿￿￿)ng of volun¢ary irtm¢ to ¢051￿ thllt (kJn#tiorks were
rewi7A in line with the SORP criteriL
A further descriyion of our Teswnsibilities fLY the *JJii of the fiEMrtiaJ is ]￿ted ￿ thE Fir￿ncID1
Rewting CouKil's wybsite at hI¢p".Ih￿.fraQ￿[￿JW>JityY¢5￿￿$ibilIlte& This dexripiion fms psrt of wr
auditfjr's report.
Use of our rtport
This repDrt 15 rnade solEly to the chwirabk ¢￿￿Y'S membu4 •5 J body. with Ch•w¢r 3 of P•rt 16
of Conpani¢$ Ad 2(X)6. (h]r awlii work hos b¢M und¢rtak¢n fftighl ststc to th¢ thdrithble cwp3ny's
m￿￿18 those matters we are rty4uired to to th¢tD in an a￿Li[0r.5 r¢rffl Jod forno QEherpurtrf>se. To th¢ full¢
extent pemiitted by law. we do rM)t accept or tssume resrffjThsibilily to anyott 0[￿ thc Chan￿ble cornpany and
th¢chditsbJe¢rAnWy'S memtw &8&trN>ay. for atsjit fly thi% OT for lheopl￿fj￿ have formed.
115*4 LLP
Nitknl&% Sl&ld¢n (S¢nior Audiw)
For atsj on be￿f ofRSM UK Audii LLP.
Chtrttred Accountsnts
25 Farringdoth Sueei
Loodon
4A 4AB
27 July2023

Ststemtllt of fw•¢i￿•¢t1VlfvUfvjrtbEY¢1reudth1JDhFjtryJz1
T*1
451M5
370J17
2.451719
4$4
730.915
1171*61
IlJ222
117.IWJ
3%.023
3.011926
2$9.L4
11*476
(16>
42.6
PDOrF¢r￿￿*JPty￿L
219
V8219
Iv
610.41
Mjoi
12

The U4iver81ty ofchi¢ago Fo•nd*tioA IAmited
IRegis¢ration number: 5711851)
Bal*Det 8ht¢t ￿ •t 30 J•ne 2022
r¢5tsted)
2021
2022 .
Not¢
CurrtDt ￿Sets
Debthrs
Ctsth at blnk Ind in haThJ
419.961
246.777
818.849
11,950
Total aJyely
666.738
830.809
Cnditpr¥: aTrtyyDls falli￿ withth o•e year
37.7(X)
32,408
629.038
798.401
The funds •f¢bt Ch•rtty
Unrestriaa fut
Restritted fijrtds
18.534
610.404
1,421
796,880
io
629.038
798,401
Totsl f¥nds
629.038
For deiarls Ofre$ithen￿mls io lhrprtty￿aW. refrr fo nc4e IS.
The n01¢5 on pages 15 ro 29 forn) r*rt of financi￿
The f￿￿CIal st8rtments of The Uthivttsity of Fo￿d￿l
•pprov¢d by the Bc4rd of Dir¢￿ *¥J autknrbxed for ort ,
mittyj (regrstcred number.. 5711851)
Si8n¢d ry) behalf of Board ofDireciotsby:
Kim Taylor
Director
P4e 13

Th¢ University of Chi¢ago FOuDd•tI￿ L4mit¢d
Statemetht of cash flows for the y¢#r thded 30 Jllttt 2022
2022
2021
N•¢¢
Cisb prtvidtd byl(4s¢dl h op¢r•tinE ￿11¥1¢
234.816
Interest rtrKived
N¢t eA5h Ilows frmn investing xtiwitlu
VllereMsEIIDccreMy¢l £4¥h
234.817
{84.137)
Co5h and equivdettTS at the *inning of thc y
11.9
Totsl cuh lid tssh *qut¥*lethts #t the end of th¢ y¢•r
246,777
R¢cobtlllAtlo• ¢oeAsh at *Dd kl h*Ad=
Cash at bknk 8ThJ Sho￿ in the Clwiiys bal•nx4Kd
246.777
11.960

The UnlverJity of Chlwo Fou*d*¢loA Limlted
Noteg to tbt fim*Dcial statemellts
For tbe ye4r ¢nd¢d 30 J*nt 21n2
Celtral ltsforrn*tl•tt AAd basts of Itthlltiti
The followitiK wutyung poli¢tes h*v¢ l*tTh wlityj c(ryithtty in dtsiitig with items whKh are considered
m￿trial in rel*ion to th¢ finan¢iai
ofprnpar*ti
The fir*n¢ial stattruemj h•ve been the h￿torIC t(xt b&81$ of in with
Axouniing and Rep)rtin8 by Charilies.. Swement of Rec(thmended Pr&xi¢e applieable ro £hariii¢s preparing their
financial %8¢ements in ¥¢COTdanc¢ with the Financial R¢p)rttDg Stsndud 8pplic4bte in UK ps¢d R¢publ¢c of
IT¢land IFRS 102) leffecEiV¢ l janu￿ 20191- {Ch8riU¢Y So1￿ (FRS I￿2)). thc Firtancilll R¢porting Stwthrd
applicable in Ihe UK atMI Republic oCIteland (FRS 1021 the coM￿leS Act 2(1)6.
The fvncuon8] curren¢y of The University of Chiw F￿￿d￿L0￿ Limi*d is thisidered Meding
b¢¢wsc that is the ctrncy of th¢ e¢Lwmic e*vircffjm¢M ith wh¢ch Chrity OF￿¢¢5.
Cohjg co•r¢rn
ma[￿eMent ha5 Teviewed th¢ ush f¢xe(asLS ¢hYough fi$￿ yw 2024 (r$st￿ year endin8 30, 20241 whith
indicate that Th¢ UniveTsity of Chicago Founthrion Ltmitsj (the Ch¥ityl viill knve ￿ffici￿r to contintt as
going ¢oncem. The Charity is maDagcd by entploY￿S of The University of pareni coM￿ny1 and h&8
ne81i8Jble fixed costs. The fixed costs of the Charity incltsde yt*ly fees f￿ audii axl x<ouni*ncy serwices. Thc
payeni COM￿NY is tommirted ts) Win8 th Charity in meding
lTh¢ TN5te¢s mawrnt bav¢ also ¢(￿sIdered th¢ impl1¢wi¢￿ of COV1[￿19 Bwii ￿ thcs¢
fwEGa5r5 Ind do h8v¢ any ¥utffjtantial orygnifiwK thubr5 fERaTding the Chxiry's abillty to wirinuE •5 4 goinR
tontem for a p￿l0￿ of at i￿¢ i2 mffith5 from Ihe approval of the xcounE5.
(￿Je¢lIV￿of & Clwity.
P¥¢ 15

The U•iv¢r8ity of Chic*to Fo¥Dd*tion Limlted
Not&* to the fingDci81 stAtements
For th¢ year ended 30 2022 (eoitin•ed)
l Au•Mtttlth8 p•Jkles (eontl•lled)
Prlor ptTiod reslAtemeDts
Th¢ comparative to tIKX finarti￿ Jthtcm¢Jts th* to th ¢knE¢ in th ￿lIng tr￿ment of
i￿)rne reco8nition. 'Iht in¢rea￿l¢Jter¢8$t) w the line of tk prr5eNed fir￿nClU[ 5tswnenL% Is
wmrn8ri%d PKlow and rtsa*d dth¢lr4J in 15.
RtlatiDg t
Rel*ii*tl
Reknfijg to pritsr ptriods
th¢ ¢urreo¢
tht prbor
b¢tor¢ the
PEriod
rlod prlor ptritid
disc105ed in di%thMtd di5tlostd i
Stattmemts stAtrments 5¢•¢emuts
In¢om¢
{] 1• (*21
796.157
7￿.15?
908.?19
8.219
A¢￿*d irtc•m¢
Rtslri¢*cd of the Clknty
The Fourtda¢ion previously recwi*d donatir•5 base4 on bNsis for èil typesofdonation> The Dirfmrs have
reviewed tiK rcwirmcnu of rRs I￿ th¢ Choritits SOFiP ond idcntifked donatiorkn thould bE recobmised
on an accr￿1$ b￿15 whert there 15 tt future Comm1kne￿ OT pledge by a domr th thc f11)e￿Id swemmts have bg¢n
Income is recogniwi in accordan￿ with the ¢co8ttitilth criteria of the Charytses IAccLXthts attd Reports)
ReE¢JgEi(sN 2011 aTrJ thE Chari¢Ks SORP (FRS 102) when uYiil¢ment i$a55Urt th¢tr is wobabili¢y of Jectipi, and
Ivl*n tht #motsnl ¢8n ￿ rtliabty medsuved.
Pwlfj

The UnSvtr91ty ofchie*to Fouod#tioA lamlted
Notes to the finucial gtaleJn¢ttts
For ibe year ended 30 Jwme 2022 (contitsmed)
EApendhwe
Expenditwe is a￿o¥n(¢d foron • ￿MMI￿rI￿ bdsi& Ov¢rh¢¥Js othcrc05ts nol diTealy attrit￿table to particullr
fvn¢ilon￿ •cttvity co￿￿¢% apportioned ovcr thc rrJcvaN ¢atW¢S th¢ bnsis of mand8ttn￿t ¢stin￿￿ or
the amount aErributsble to that aciivity in the year. eirhcf by ref¢r￿ce EO $Tafftime or 5pxe or¢upi￿, as apr*opr￿.
The irrecovernble element of VAT is included with item of exr￿)se to Wh￿ li trlalcs.
Oovernance cosis wmprise the ¢osts of rnnning th¢ cts￿ty, including styawc planning for hs fiJttJR devtlopm¢nL
t¢mal audii, any legat *fvict fc* The University of Chi(a80 Fo￿daTion Limi¢ed Dirt¢tor4 th¢ cosis of
4xnplying with WjL5Eitirti￿4i 4TrJ SWUW rrqLUT¢rn¢n￿ such as the cox5 of Board and Cc¢nmi¢tee m¢cling5 and
of preparing 5¢aluttry accounts and wisfyin8 ￿bliC xcimmtsbility. Dctaild disclosures C￿remin8 how suptx>rt
COSL8 were split are noi m¥Je onthe b¥i5 of them mowi
Cha¥itsble xiivity 15 in ￿Mpli￿¢t with thc Founduicffi's 8￿1 maing p)licy. Gifts from donors b¢ tn
4wordanc£ with th¢ Foundo¢ic4)'s resolutiiw. A5 gifis Ire tky may be gran￿￿ to the Unl¥￿s1ty of
Chiwo with 5pccific ins%nKiions for use Wrding to the dcwr's ITh￿1. Tr Fwndaion relies M the UnivctSity'5
lntrrn￿ ￿n¢T￿lS w verify don(K's intent ￿ vt4JrztyJ.
TAXathJn
The Univ#sity of Chicw 15 sJJA%ider¢d to *5ts set in Parzyaph I sthEd￿t 6 of the
Finance Att 2010 wd ￿￿tfOrt il mects ¢hc dtfinitioh of a Charitsble ￿MP&hY for UK c(xporati(m ilx pwposes.
Accordingly, th¢ Charity is kThxelltiaJly exuDF4 from ￿xIt10th in res￿ of ijKome OT ¢4Jitai ￿1n% re¢esved within
cllt¢8ori¢5 Covered by Chap¢er 3 Part I l of * co￿oNI0n Tax Act 2010 ￿ Seuion 256 of the Taxaiioo of
CharEeable Oains Acl 1992. to thc ¢xtem thai s￿h incwjc or8•ins are applied exclusively w choTithble pur￿se5.
Vortign ¢urT¢tttles
Trarwctions in forcign Curr¢￿1￿ 4re r¢cordttl r¥¢ k¥¢vailin8 at th d4t¢ of the Wan5￿￿10r￿ Montt•ry w¢t5
and liabilitits denthninate4J ITh fDreizn arc trdn51•trd wo S¢uliTh4 * th¢ yiod fDJ ￿ChI￿@t rAte& All
differences are thk¢n th the Ststemcm of fitWKiai xliviiics.
sh <1gb ¢4yfvAlertts
Cash at bank and in lJatKI inGl¥k5 lrwj 5knrt tenn IHghly liwid inve5tsDenrs with * short rn￿rity Df three
months orlexs from the date of acquisitiOD worrthing of the thp)%i wyimilar *¢
F]ranCi￿ 4S5¢ts and fIrw￿la1 liabilitie5 fEwgnised whth the Chwity tttC4nes • pty to the contrau
pro¥i&ons of the instrumL*T. All fLnanCi￿ and lith"litie5 iftiiilly mea5ur¢4 a¢ transfrttion pti¢¢ li￿ludiT
tr7￿Cti{￿L ¢OSts1
PaBE 17

The Ulliv¢rsity of ChAea£o FouDdatioD limi¢¢d
Notes to the financial statements
For tb¢ y¢4r ended 30 JuDe 2022 (comtim￿td)
l A¢coulltiy poli¢i¢s (e•NtiAuedl
Trndt dttrtors **d trtdil•rs
Tr*Je a¢Mt oih¢r de￿or5 al the seulement all¢r di￿U￿ offtrcd Pryymctttg
Ire v4lu¢d 4t the amounr p￿p￿id olsny rr¥le aTE T￿l￿d th the Lh&ity has a
FqCStnt fjhliEXtIOD rwltln8 from a sx8t evet)t that will protthly reyjlt in tk tsallsfer of fuJMJs third pJrly ￿1[ ihr
amtyjni ID y¢ul¢ th¢ ublig￿l￿n w be niea%urtd or r¢liDbly. Credirors •rE rtroKnixd At their
ttlcmcnt 4mount after ￿loWin£ for any tradE discounts duL
In the application of the ClJarity'S a¢¢O￿tIng p)li¢ies. *thi¢h are lkscriw in ty)¢c l. th¢ Diredors are rtquired to
make jud8•xet>ts. estimwes and asAmptions 8bwi th¢ c•nyir4 amounts of a55us and liabiliEiV th*1 8rE not r¢8dily
apparent from other sot¥tt5. Th¢ ¢stirnW and &sy)clE￿d &55UrnPllOA% ate blls￿ on his￿￿(91 exwienr¢ and other
fwr.% ikqt art cl￿￿51dertd t(> ￿ relevani. ACWBI tf5ults m•Y difftr from esiunatrs.
The uiim8¢s and urthtyu4 U5WDPtiDThS ate ￿l¢w￿ on&oing R¢vl5iO￿ to wxourtting e*llnat&5 aye
r¢wBnised in th¢ p¢ri(xl in which estimate i5 revised if th¢ reY5sion 4ffccts only pe¥ic4. or irl the persc4 ot
the rewsion and futurt periods if ¢ht revi5kon lif￿ b￿￿￿TT￿l arKI future pcriods.
The Dirrclon do CDn5ider ththe are critical judAuthents ry 50urtes of e*irnat¢On UDcertaiDly requirin8
disclosure Eryond the accoU￿1n8 p)liucs limed ab)vo
P•K¢18

Tbe Uoiver81ty of Ckicago FouJMl•tiom Limited
Notss to Ihe financial sl*temtnts
For the ye*r euded 30 Jv*e 21)22 (eoitinued)
{•$ rtst•ted) 1*9 Ttslated) {•5 ftststtd)
T•ts] U•r¢i¢ri¢ted
ReslTiCted
Tot#1
2022
2021
Eljnaiions and
gifts
27&259
454.685
730.944
370327
1452.719
2.823246
Fordetoils ofr¢si￿emtM￿ ￿1￿￿1￿}*<￿. refrr ton•¢ J5.
4 Expendlthrt
T4*l
2021
AAi5iDg f•Ads
229
Suppon (05ts
l6.736
17.086
Charitsbl4 a¢¢iviflt*
Gr￿ts awdrthd
CUr￿ll¢Y los￿{￿41n}
854280
9.736
1968,568
1594 426
Covtrn#ntt tosts
Audst SCTVites
Accountancy
14.7(K
14.lJ(KJ
192IKI
18.jc
Tot*I
¥A)0308
The audit firm ¢)nly received (tts in resp￿1 to audii A￿j1( fets art wtxtnitd ex¢lusiv¢ of VAT. No
Diredors or pets)As with them re￿U￿t￿l0fy thr Ixrrtfits or reilnlwsemenr of exper￿5
from ¢he Clwity.
During the year the Ch¥ity did not employ Iny suw xaff ditvxly. Ail gr￿ by th¢Charity were Hwuded
thc Univcvsity of Thi(40 in the Uni*d
Page 19

Th¢ Uulver81ty of CbleAgo Fou•d*tio• lirtilted
Notes to the finan¢ial stst¢Jnents
For th¢ ye*r ended 30 June 2022 {eoDtinued)
S An•lyslfj •f Ctharllabk
rt5t•ted)
J•J•Dt 2021
. Exp¢•dltsr¢
JtIJwDe IOZZ
UnYe51ri¢td furt
1.421
276259
{259 146
IK.534
Rtstrkied fuDd5:
M8rtini Family lniern￿l¢￿I l)Jy55ey
MerC￿f In¢cmship FuTrl'
Scholarship
Anit& (kng Lab
BIT￿ra Fwxl forCollcF
Readintss and
lute Trarnity Scholar5tsp
Chicago B0othAnThU￿ Fund
(JLita¢o Booth Hong Kfmg Mt. Davis
ESA Cluna Pr¢8rarnmin8 aThl
Iniiiaiives
Cthss vf 1999 (￿Y5$eY &-holar5hip
D¢*ns Fund for Swdeni Life,.
Dixil.FoEed Fello7thip
F¢nGin8 Club
Guy artd Maurn sald&)berg￿Y5seY
76
4.718
17SJ
{4.718)
16.558
48.071
IA558
(48.0711
(5.297)
(38.LXXI}
5.905
3t,C•XJ
381
13181
138J)
19.968)
(45.261)
(4,512)
45.261
4.512
134.816
16.802
181,tixii
116.8021
53,116
Henry Rit¢P￿t Stihlies"
pnd Anna Boheiffl SdK>lar5hip
Fund '
vin Zmis Inwn¥lon￿ sd￿l[￿P
1211.5
27,¥53
127.¥531
12U.5¥7
l J54
(1741
1.354
met￿1( R¢s¢•rth Intemshi
tkportmcnt of Psy¢hoJogy
Oddysey *holars￿P Progrqm
E¥p¢ndabJ¢
Or1ettt￿ Insibtu* Chi¢w Hr
R￿standY Ctnler
The H4ddad Farnity In*rn8ti
Ody55¢y Fund"
11.926
(11.926}
11463
37,154
(IA916}
{si}
(11,2N))
32,701
171,685
171,685
P¥¢20

Tbe Uuiverslty of Cbiwo Found*tioD Limited
Notei to the finan¢ial s¢a¢eme•ts
For the year emded J) J••e 2022 (comtinlled)
5 AD4)718 of CharltW¢ f•nds (eoDthiu¢d) .
(w r*st*¢¢dl
JO Jun¢ 2021
l•t•mt Expl￿tUre 30Jtstst 11)22
Van J Stults Scholarship
yatson Opm Tr)fXS S(holwthwi Fund
234,995
{80,IW}
154,99S
81.050
{2B.247)
{22.7811
187.51X)
51803
ZU￿ar0. Da Via S¢lwAanhip"
Zwirk li¢5¢4￿￿ for Slydiej
22,781
79&880
454.685
641.161
610,404
'rotsl fw
798.301
9(M).307
628,938
P4e2l

The Uttiver81ty ofChieaEo Fo4rtdation Limi¢ed
Notes to the fbn¥Jncial ststem¢Dts
For the year ¢nded 30 Jtslle 2022 (eonlinwed)
Fordeiaits olresi(*eme￿ ioihppriv)wr. refvionJe 15.
This Frovides for In*rn9h￿ fc* in IheColle8e.
Amy irfoD K￿$ (hlywy Y*knl*T¥bip
This FfoVidessd￿iP for 8llvJErts in the College.
'Aults Chonl L
To Dr. Anits ChoD8'5 in swg¢ry •[ tr¢ lljtrjital
BArb4r* Fynd lor CoKty* Rtsdlnem *DdAttt$4
To PTovid¥onnual support forthBOffite of Civi¢ College R£￿1￿￿$ A¢¢ess Wogr•hmi￿.
Blut¢ Family S¢knknr5bip
Th¢ purpose of this fijnd is to provtslc ￿h011[5h1P *AFv￿ ty fvlkiimc MBA tho B¢Mh khool of
Bu%ines5.
Chiueo Booth AhAu*l Fund
This fund provides untestricted ro the B￿b s¢hry￿ of Bustn¢s>
'Chltw Booth HOAI KonE Mount Davi¥
Thi8 fi￿d prov&dei SUPP)rt for th¢ d¢vc14)pnut ofthc Bwth in Hwg Kon
'Chkozo Booth's MBA E¥perleAce Fund
This provides support for th¢ MBA exW)er￿ ou¥uk of the ciLyoom, i￿]￿din& S￿)dIng for trEk4 travel
opwrtunitie5. ¢xpansiw of leadtsship program& liwing WTL aodent.alurnrti pogrammin& b￿d butlding
auLVIti£5 ttrnottg thc Student pqjulaiion. i*i¢rnship4 8rrAps ther &¢tivities and progrgm5 85 dire¢ied by
the ])eputy Deon f•rthE MBA pro8Tam.

Th¢ Universlty of Cbicato FouDdAthD Limited
¢0 tbe fina￿111 staternents
For the y￿r ended X* Jun¢ 2im (¢o•tlnu¢d)
S A•AI)yts of Charltsble (t••lkn*e
'Claw of 1999 Od)w Sthol*rshlp Fmd
Thi5 fund provides scholatship gjpwt for inthtColle8e.
"Dew's F*od f•rSitydtht Lik
To support untsgtkn SEudcnt iniparives *sdirthat41 by ofthccolie
' Dixit.F•yd FdlDTh7h
Annual supwKt for &di5s¥Wion comp]¢titin f¢llDwship f0rgr•Ju￿e the Thvisbon ofth &￿la1 sc1w￿
F*nciy Club
Th¢ purp￿ of thi5 fund is to pThde wpjn for the [￿¢1￿ t1￿ ikni¥ttsity. irt1￿11￿ but rtot limit￿ to
cOm￿lIE{M expenses and ￿*ching.
Guy MiuT• S*idenb¢ry Odyss¢y F¥
Th¢ pulpox of this is 10 prwde xhoiaTship 5Utwt foruthJtrxr*tu#e Alld￿ts th the CA)Ilege.
Htnry Rit¢kot¢t IAteYo*¢iuwal S¢•diu Fund
This fund provides SUPPDrt for nvw Te5c*rh in internaiotthl SILbai￿ in thE wcial Sci￿5, with • purti￿[•re￿ph￿S
OD roll4b)wve MIX￿ methI8 Jegeatth.
Marr ANA* Boh¢thb Stknlatskip F•ttd
Thi5 fvnd wovides s£h(4arthip fc* SLudts￿ ￿ the ffijlbtime MBA ProKrzm Jtthe Booth SthoDI of Busi￿55
Marvi* Inl¢rMlthot Sehoknvs
This f￿d I￿¥¢d¢s$¢holarshIp suwth f(* full.time MBA w¥knt5* sc1K￿l of By5in¢5&
"Mttedf R*st*rth Inter•ships. Deprtaeut ofpsy&o*y
This fi￿d wovidusupport iN¢rn5hi
"Odyw Scbol*rs&ap Proc￿ Exptnd*lAe
Th15 fund pro¥id&8 eX￿dable scknlarship suprA)rt to th¢ (Idyss¢y S￿￿l8￿h1P Pm8rwm. whith provides
suppl¢mcntal College aid 8raTrt$ 10 under￿8￿* &udents WJM) *¥yJld other*ix"￿Ve Lo xcept sthJd¢nL l¢)Dns in
d¢r tts4tt¢￿ the University of￿1(￿.
"Orl¢ntAI IAStltutr cknit*￿ H•w¢
To Sllpp￿ the cpi8rarAJ¢¢ SUTvey wojea of the C¥iental [￿l￿rt&
Py23

The Univer81ty ofchiugo Foundation Limittd
No¢es to the financi¥Jl st•tements
For the year eoded 30 June 21n2 (¢ontiDued)
5 Amlplg ofCbArlt*blt (¢nOn•ed)
Rustsndy CeJttr
Th¥ puryJv¥¢ (If ihi% ftht i% 574wI r(* th¢ &*iaJ Enorprise Initiative and thc Booth School or
Bwin
"Th¢ H•ddAd FAtylty 1p¢¢rnatI•D￿ Odysxy Fum
Expen4Jabl¢ income fmm wd to PTovid¢ 5¢hoiarships 45"Haddod Family ln*rnatI￿￿ Ody55fy
S¢holar5hip¥" io intcrnational slu￿ts in thc College qdify for fin￿111 aid under the College'5 firAn¢ial aid
)IiGy.
V*ll J Stslts Schohrshlp F*
The PU￿8¢ of this finyj ￿ to provide schol¥tship fuJl.timE MBA sDthts •[ th¢ Bwth School of
Business.
WAtsoo Open DMTS St]Kt]*rship FMDd
The Pu￿0$¢ of this fiuld L5 to pN)vide sctr&sla￿1lp wpp)rt th full-¢ime MBA &wJents a¢ th¢ BMth School ot.
Uusin¢sS
purtx)se of thi5 fi￿d i$ pJovide xlwl*r5hip W to fv114une MBA Soyjents * thE Booth School of
8￿$1￿¢$%
Zwiek for sti￿1￿
To provid¢ anfftv￿ awwds fo outy2ndiThg thir&yw sudeN5 in the Collt4e at the Univcrsiry to th)ndll￿ rtse4rch in
Europe in th¢ foll￿rf their third y¢tr.
fj Debtors: hllins dut withi* ••e yur
(•$ r¢5tgt¢d)
21ni
2012
Amounts pay4bl¢ frorn Teljied F
Acttued income
JO,501
3B9,460
22,6Y2
796,157
419,961
818.849
deithts ofreJldenrtnts ioHxwitY)w. reftTr iomt¥e"J5.
P4e 24

Tht University ofchiueo FoTA•d*tioD Limited
Notes 10 the finx#¢lal Jlat¢ments
For the year ended 30 JuDe 2022 (eoDtIDued)
2021
A¢¢n￿lS
OthercrediiNs
37.700
18.500
I3.￿8
31408
• Allaly515 ofa5Jets li*biUlies bttwe*u thnd¥
UAr¢strktr
Sb*
elpital
Totthl
25.733
220.944
246,777
Debius.. f￿ling due wihin o
30JOi
389.4
419,961
Crediirx5: amounts withirÈ c
y¢or
As ¥ 30 Jul￿ 2022
11534
610,41
As at 30 Jurt 2021 {&$ le￿a￿d}
79&880
798.401
Pag¢25

The Umiversity of Chicago F￿nd￿tIon limit¢d
Y4otes to tbe financial Jlatements
For the year ettded 30 June 2022 (co•limued)
I A••lysb •f •i¥¢ts ••d IlabllltiEJ fM•ds {toJitinut4)
For details ofreslthmenis ioi&pritYww. rrferiOitY¢ 15.
I'he Charity nrt tnrcRd inlo 8Urntce arrdngements12021." nDnEI.
10 Share capitsl
Amolled. t*lW•p thlty p•¥J shav¢s
2022
N•.
Ordin4ry JJmof£l e*h
l(X)%oftk $har¥ ¢4pitsI is ow7￿j by the UtiT¥*Siiy ofChi¢w
The Chuifable statu5 of th2 (Jwity prohibits the imivetsity bting toafry d¢￿dendS
P•e¢ 26

The UoivenAty of Chie*go Fo••datioD Limited
Not&1 to the fittanei&l 8tstememts
For th¢ y¢*r eDde4130 Jun¢ 2022 (¢ontlDu¢d)
(x resthi¢d)
2021
Net incom&(txr*nsel slathent of finthKial w*vilies
220,097
1206.8541
(61
Dectease in debtOTS
Inryew in uditor5
9.428
5,292
&51M)
C•sh pr•vldd byl(used im) optT*tiD¢ *tknIknt5
12 RelAted party tt*#s*tdo
Jring the ye¥ the Univetsity of Chirago ITh the US ill￿￿¢d on bdwif of the Charity 4mount¢d
£I6.73612021.. £18.3￿1. The Uni¥etsity of Chic480 in ttr* US rech¥8td £))il {2021.. £oil) of support M5t5 to th¢
Charity dwin8 the year wh2th related to s¢aff lime swi ITh ￿j￿iDn ￿ the Charity. Dwing th¢ yw th¢ Univ¢rsity of
Chiugo in th¢ US ha5 8¢fted £16.736 (2021: £18,gJ)) w the Ch¥ity. Th¢ b•]w￿e ￿ thc year c4KI w&% £nil (2021..
Grnnts m•dE in the year tothll¢d £854286 (2021: £i968J68)4￿ wu¢ all pid to ts iJniv#sity of Chit¥0 in the
US duriTr8 th¢ yw.
The UDiv¢rsity of Chicago is committpj kn fijrxl the gown￿ w5t fw th¢ Clwity •Dkntht of £3Q501
(2021.. £I8500} is included in D¢bLOTS.
13 Events *fter th¢ end orth¢ wltyj
No events Octurrtd •ficrth¢ of the rporDng peri￿1.
The Directors eowidrr The Univ¢r5ity of Cbiw. • ((Ynwy ￿%51￿¢￿ in The Unit¢d Slates of Amerittt to bt the
ultitnate pfirenl C1￿[￿nY. Univer5iry of Chicago 15 th¢ yna]lty and ]￿e$r group uj whith the results of the Charity
are torw)lidatsJ. Copi¢5 of thr UThiver5ity'5 fiTwi415tytw¢nts ar¢ •YailabJe rcque* in writing ty 5801 South
Ellis Avenu< Chit41 IlluJoi$ 60637. USA.
P4¢ 27

For thtye•reth 3•1￿￿tIon{c￿￿￿ts1)
2935J
374J27
(ilwi
I454719 2*23246
935
2123.Y2
117.1•Jl
(l7.IW)
6l69)3)
iJmo.I
14IJJ03)
11243
6I64YIs
54
rwxrd
5U45 ￿19 901
791JDI

The University of Chicago FouDd4tloth Llmlted
Not￿ to the financial statements
For the yeAr ended 311 June 2•22 (eontinxd)
IS Prlor ye*r rnStsthMent{totstiti•ed)
A* 0￿￿11Y
r¢port¢d
AdJtt5ted
As re5tsted
Cryrrettt ￿ett
I)¢btor5: wnounts failing thie within oTreye
Cash at bank and irt
79i157
818,849
Tolal assets
34ffjS2
l57
830,809
Cr•d*ors: *J*tsMAts f￿1￿¢￿•t with* •* yt*r
Net uyets
31408
314081
44
796.157
Tbe IuDd5 of th¢ Ch¥rity
Unr¢sir¢cted frjnds
Res¢ri¢¢ed fuTrJs
Sh*E
1,421
1,421
796,880
100
79&157
2.2M
796.157
798.401
P4c29