Wiltshire Community Foundation Report and Financial Statements for the year ended 31 March 2021 The Community Foundation for Wiltshire & Swindon trading as Wiltshire Community Foundation Registered charity number: 1123126 Registered company number: 6504318 The Community Foundation for Wiltshire & Swlndon Report and Financial Statements for the year ended 31 March 2021 CONTENTS PAGE NUMBER Trustees, report Welcome from the chair of trustees Our Coronavlrus response Impact of Coronaviru5 on our or8anisation Public benefit Objective5 and activltles 4-5 Our work Achlevements and performance 12 Our plans for 2021122 12 Flnanclal revlew 1>18 Prlncipal rlsks and uncertainties 18-20 Reserves policy 20 Golng concem 2￿21 Investments 21-22 Strurture, governance, and management Reference and administrative detalls 22-24 24 Trustees and key mana8ement personnel 25 Statement of trustees. responsibilities Auditors 26 26 Independent auditorfs report 27-29 Statement of financlal activitie5 30 Balance sheet 31 Statement of cash flows 32 Notes to the finanaal statements 33-61 The Community Foundation for Wiltshlre & Swindon Report and Financial Statement5 for the year ended 31 March 2021 Welcome from the Chalr of Trustees 2020121 will go down in history as the year of the Coronavlrus. It presented Wirtshire Community Foundation with our bi88est challen8e yet- to which we responded immediately by switching to Crisis management mode,. sethng UP the Wiltshire & Swindon Coronaviws Appeal, and st￿0MlInIng our nomlal grant-making proce55. A5 a result, we were able to double our annual level of Brant-makin& thus ensurin8 money got to Stricken communltfes and the volunteer groups 5UPPOrtlng them in record time. We were all proud to recelve the p￿SU￿[0us Wlltshlre Ufe 'Prfde of Wiltshire Award, Iwnsored by Trethowansl in reco8nition of the role the Foundation played in this crisls year. Looklng forward, our research and anatysls indicates that the combined economlc impact of Covld-19 and Brexit Is Ilkely to last for some conslderable tfme. and ihat much of that impact will fall on local communltles and charities, and those already In need. We have theTefore implemented an ambitious lon8 term financlal plan to delfver at least £IOM worth of 8rnnts and ser4lces to Wlltshire and Swindon communities by 2025, wlthout unduly reducin8 our resen￿$ or adding to core costs in relative temis. Returnlng to the past year. all of us at the Foundatlon would like to ￿cOrd our heartfelt thanks for the way the general publlc has responded to the Crfsis by donatfjng money to our appeal fund or volunteering your ttme to support local communitles. We must also acknowledge the remarkable work of thaTldes and 8roups who were there to support the people of Wiltshire and Swlndon when they needed them most. This year has reminded us all of the power and potenljal of the volunlary sector to help In a crfsls- and I hope that we can foster the upsur8e in communlty spirit It has created. l also thank my fellow trustees for thelr hard work and unstlntln8 SUPPOrt at a difficult time. But most of all, I must glve credlt for our outstsndln8 operatk)nal performance thls year where It 15 m05t due.. to our Jolnt Chlef Executtves Vlcky Hlckey and Fiona Olfver and thelr dedicated staff team. That they were appointed OTh￿ days befo￿ the pandemlc struck, and that the staff have all been worklng from home th15 year, makes their achievement all the more remarkable. hley Truluck CB CBE Chalrman of Trustees Our Coronavirus response March 2020 was a ttme of great uncertalnty and fear for marry. The Coron￿lrU5 pandemK had begun to take hold, foran8 people Indoors and brin8ln8 normal lffe to alarrin8 and frightening halt. In Wiltshlre and Swindon, as everywhere else, charllles were forced to stop face-to-face contacL leaving thousands of people deprlved of the drop4ns, day centres, meals, acllvlttes, and companlonshlp on whith they relied for their wellbeirw. It was clear that thousands of people would be at risk. not onty from the virus but from a lack of the bask necessI￿e$, of food, meillclnes and company. We responded rapldly to these urgent needs. By the time lo(*down wa5 announced we had ￿USed our normal grants proBrammes and eSta￿iShed the Foundation Corona¥irus Response and RKovery Programme to support the voluntary and communlty sector. The Community Foundation for Wiltshire & Swindon Report and Flnanclal Statements for the year ended 31 March 2021 Our Coronavirus response- continued Local charltles and commun￿¥ groups were under prèssure from the pandemit InÈed to adapt servites, flnanclal loss. In¢reased needs) and how we awarded 8rdnts was particularty S￿￿1￿¢3nt, h￿nE a direci impart on the welfare of groups. Many 8roups are predominan1￿ run by volunteers, some of whom were new to voluntary activity or are elderly and made particularly anxlous by the pandemic. We supported them by provlding e￿1V accesslble funds In a support5ve way. We slmplified our applicati￿ form to three simple questions. 5treamllned our grant a5se55ments, and made fapld grant declslons. Our flrst grants were awarded on 30 Marth 2020. only 418 hours after the first applIca￿on$ had been received. Over the followlng few month5. our grants provlded.. Emergenry food. e55entSal Item5. and a5sistsno for Vulnerable and elderty people Support for isolated, disabled, vulnerable or dLsadvantaged youn8 peO￿e Counsdlln8 and support for those wlth mentsl health issues or serlous Ion8-term Illness SupF4)rt and advlce for people in financlal hard5hlp and challen8ln8 ¢lrcuMstsn￿S A5 the pandemlc confjnued, Broups also felt the Ios5 of income from cancelled fvndraisin8 events and servlce ¢harBes. Groups became concerned they would not be able to meet the growiw need for thelr $wvi￿5 or even survlve the pandemlc. So our grants also focused on core fundln& whlch for some made the differen￿ between survival and closure. We Bave many of those 8roups formed In the eye of the stomi 8uSdance on the pra¢ttullOe5 of runnin8 a voluntary or8an153tlon. We shared Information on oiher coron￿rUS funding slreams and gave athce throu6h one-lo-one dlscussions, onllne workshops, web51te updates and re8ular ne4¥￿etter$. The team often found themselves Ilstenln8 to and encoura8in8 local volunteers feelln8 overwhelrned by the unexpected pressures on a small Community group. ey the end of the 2020121 financlal year, we had awarded 374 grants to 246 dlfferent charities and voluntary8roup5 totalin8 almost £1,782,819. You can read more ab￿t thls in our Covkl-19 Response Report which is avallable In the publications secllon of our webslte. Impact of Coronavlrus on our or8anisation In March 2020. we closed our Offi￿ and all staff worked from home. We chan8ed many of our pro￿SeS and wocedures to respond to the pandemic. Learnln8 from these thangÈs has helped us Increase our efficienLy, some paper-based processe5 are now fully online. we have embrated uslnB Systems like Mirrosoft Teams. have a new cloud-based ielephone system and have intfoduceil an onllne Trustee portal to enable the sharing of documents for committee and Board meetings. In terms of Brant-makln& wlth our Coronavirus ResrM)nse & Recovery grants pro8ramme we adopted the approath Df"tell us what you need" with appllcants. We were fleXI￿e and made appI￿rt8 for 8rants as easy as posslble. As we retumed to more "normal. grant-makln& we reviewed all our processe5 to retain these aspects. balancin8 the cost to the Fo¥Jndation with our need to ensure grants meet the 8reJtest needs as easity as possible. We were also guided by the IVAR Open ond Trusting Gront-moking commltrnents. published in response to coronaviw5 and adopted by many major funders. We recrsjlted two new members to the team durin8 the pandemic. with inteTview5, inductions and training tsklng place onllne. Megan Pitman joined u5 as Development and Operations ol￿r in October 2020. and Adrian Brayjoined as Flnan Manager In March 2021. The Community Foundation for Wiltshlre & Swlndon Report and Financial Statements for the year ended 31 March 2021 Trustees, report The trustees are pleased to present their report and financial ststements of the Foundation for the year ended 31 M?rch 2021. The report has been prepared to meet the requirements of a directors, report and accounts for CoffpanSes Act purposes. The ￿nanCial Statements compty with the Charitres Act 2011. the Companies Act 2(￿, the Mernorandum and Artlcles of Assoclatlon. and AccountlnB and Reporiang by Charktles: Statement of Recommended Pracllce, publlshed In October 2019. applicable to Charl￿e5 prepartn8 thelr ac£ounts In acCOrdar￿ wlth the Flnanclal Reportln8 Standard appllcable In the UK and Republic of Ireland IFRS 1021. Public benefit The trustees confirm that they have referred to the guldance contalned In the Charlty Comrnlsslon's 8eneral guidance on publk benelit when r￿ew1n8 the FoundatSon's alms and obJethves and In plannln8 fvture actmtyes and setlfjn8 the 8rant maklng pollcy for the year. The objects of ihe Foundaiion are.. Ihe pri)moiion of any chafltable purposes for the communlty In the county of WlltsNre Includlng the borough of Swlndon and Its Immedlate neWbourhood and other exduslvely charltable purposes In the Unlted Kln8dom whlth are In the oplnlon of the trustees benefldal to the communbty wlth a preference for those In the area of benefit." We èlm to meet our charltable objects throu8h the defivery of our vision, our mission and our stratè8k oblectlves. Objectives and artivities In July 2020, the tru5tee5 a8reed and committed lo • new >year strateglc plan. vlsion. rn1￿0￿, de5tlnatton statement and values are: Vi￿￿n. To see more peoplè thrlvlng across Wiftshlre We maxlmise the impath of charitsble artivity in our local communities by conne¢tin8 people. infomiadon, and resources D?£liri,Ihen s*￿eTre1)I WÈ are an In5plratlonal and asplrallon?l Organi￿lI￿n whl¢h people to be part of. We are re5pon51ve. relevant. and known In the communlty. We are wlddy recognlsed and valued for our knowledge. grant makln8 and ad￿Ce. People are makln8 a differen￿ by working wittb U5. Oui Values.. The"BRICKS" Upon whlch the Foundatlon ts based. and the values by whlch we operate on a day to day basls: Brave.. We are not afrald to uncobv and address ihe Issues affec￿￿ our communlde5 Re50urceful: We are InnoVa￿ve In both our worklng practlces and In maxlmlzlngthe Impact of our funds Inf0M￿d. We gather infomiatbon from across the county and put It at the heart of everythi1￿ we do Collaboratlve: We recognlse that communlty projects are all about worklngwlth others for the common good l(Ind'. We are caring & respecrful when workirg with our communities and eath other Strate8lc: We are one team. untted by one vlsbon of more thrlthn8 communltle5 across Wlt5hlre The Community Foundation for Wiltshire & Swindon Report and Flnancial Statements for the year ended 31 March 2021 Objectlves and artivlties- continued The Strategic plan provides us wrth a framework to enable us to dellver our key cornrnttment to the county, whlch Is to "Sl8nificantly Increase our Brant-maklnK Investi￿ at least £10 rnillion over 5 years into our local communities to help them thfive." Thls equates to an increase of approximatety 60% ovei the previous 5-yeaT perlod. The plan splits our work Into fve workstreams, Èach with it5 own strate8ic oblecttves and KPIS for the plan period. Each workstream Ss overseen by a committee made up of trustees and volunteer5 and supported by our staff tearn. Workstréam l - Dgvplopment & M,Irk*:rn Actlvltles we undertake for Rai51ng Funds and Phllanthropy Development, overseen by the De¥elopment commlttee Lon8 lerni oblecll¥e By 2025 we wim have developed the funds and influence needed to ddfver our mlsslon Workstream 2- Pro8ramme Delivery Grant makln8 and advlce and support acllvftles wovlded to the Voluntary sector and students, overseen by the Programme Dellvery commlttee Loni term objectfvè y 202S we wlll be dellverln8 fundln8 and knowled8e that meets soclal need and Improves wellbwn8 across ¢)ur county Workstream 3- Flnandal Manatemenl Flnanclal compllance. flnanclal management and rlsk management acts￿￿e$. overseen by the AudlL FInan￿ & Rlsk commlttee Lon8 Term ObJ•c1fv• 8y 2025 we wlll have conttnued to monltor and communicate our organlsatlon's finandal health, Incorporatln8 the co OrdIna￿On of strate8i¢ risk management Workslream 4- Operatlonal Effertlveness Governan￿, people, and buslness process artSvlttes. overseen by the Opwafjonal Effècttveness commlttee LonoTerm ObJ•ctl¥• By 2025 we will have the people. processes. tralnln& and technolo8y In place to aChI￿e and measure maxlmum effidency and effecUvenes5 Wor k5troiim S . Resvjrclt & Fng3gernent Communlty leadershlp, hmpart analysls and dats shari￿ acUvttle% overseen by the Programme Dell¥wy committee lon8 Term QbJectl¥e By 2025 we will have establlshed our posiilon as an authm on social need and wellbelng usirvA our knowledge to maxlmose the Impact of charitable glvlng Our Work In fulfilment of both our charitable objective5 and our Vision and mission, the d)arity recognsses th￿ spedflc aieas of tharitable activitie5. The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Our Work- continued Graiil m,Ik-,ng Grants to local voluntary sector OT8anisation5 Grants to support students studyin8 for degrees. vocational courses or wlth speclfic educatK•nal requirements stsofGr ntma ir spen to ensure that 8rant appll¢aiions are assessed, 8rant declslons made, grants pald and Ing an part monitored Voluntary sedoi development & support to Students 88 ort nd stre r local vo %iough Yo & Ver+ actkn"duntary sector by providing trainin& advice, networkln8 opportun1t1￿ •KI ont es rt students wlth adv1￿ on applyln8 and 8oln8 to UnI￿r￿ty. and swposting other or8anlsatlons who may t them Su Commuiiily IpAilpr%liip Providi Ine advoca nstoma fort se tk'li￿paCl En8a8in8 and conducbT¥ researth to increase understandin8 of needs wfthln our county Sharin our anal is and ins respo ¥t that n ht with the widervoluntary sertor and other panners, to help inform their We recognise the followin8 support costs requiied to delibw the tharttable acll¥itles above.. e(￿r and nvenln& brokerlng relaYon5hlps and or K.V 1￿lUntary Cosi ol Ralsln8 Funds Fundralsln8 COSts- Costs of 6eneTafj￿ ne* fvnds Invertment Mana8ement Fets- costs of mèna8in8 our irt%*stment portfollo Charltable 5vpport Costs Phllanthropy Development EncouraBin8 phllanthropy In our communlyes throu8h pro¥ldln8 InfOrMa￿On on needs Providln8 our donors wtlh re8ular update5 on fundSn8 they have provided to US Workin8 Wth donors io develop thelr spedfftc 8lvlr* stralew Governafi￿ and strate8y costs Management and admlnlstratlon costs of operat1￿ the foundatlon Achlevements and performance Grant P/akin2 In 2020121. we awarded a total of 5218rant5 totslling £2,144.871 to communTty 8roups and indr¥iduals In Wlltshire & Swlndon . Thls ts the largest amount we have awarded In a slngle year and a 68% Increase from 2019120. Our grant making prixesses are desiened to ensure our funds are spent effeciivety io Improve the Ilves of those most In need. 83% of this total l£1.782,819 auoss 374 Rrantsl was awarded to 246 voluntary organisatlons. We awarded 1318Tants Itotalling £357,2S21 to support disadvantaged children and young people with their education. 16 grants Itotslling £4,8￿) helped elderly people and people with disabililies meet their winter fvel costs. These 8rants were part of our 2019120 Su￿1*￿￿8 Wlnter 8ranis programme. In 2020121, our Sumvfing Wonter programme awarded grants to local support organisations rather than directty to indmduals. You can read more about this on paBe 9. 'Wealso awarded £￿[￿#?10￿￿￿pstn0tsd￿￿ethr￿thEnaI1cfflJl Fr￿arnm• The Community Foundation for Wiltshire & Swlndon Report and Flnancial Statements for the year ended 31 March 2021 Achievements and performanctr continued Grants were awarded throuBh 14 8Tant programmes. Programmes are funded from retums from our ermlowment fund or by funds given lo us for Imme(liate spending I'flow-through fund5"1. Programmes are deS￿ned to meet Identified needs In communlile5 and the voluntary sector, and to meet the wishe5 of donors. Nearly 40% of grants in 2020121 were awarded to advance physical and mental health, wellbe1￿ and safety. 26% to redu the effects of isolation and Improve a¢¢ess to local seThlce5 and 26% to Improve skills, employability. and enterprise. Our appll¢atlon processes ensure any group or Indntldual in need can appty. reKdrdless of their experience In making grant applications. We actlvety help appllcants to submlt appllcations and speak to every appllcant, ensurlng every appllcat5on Is fully understood before a fundlng declslon Is made. as well as completin8 due drfigence. Panels of volunteers drawn from a varlety of back8rounds from auoss wI￿shIre and Swindon make the 8rant awardlnB dKlslon5. Our 48 panel members recefjve an induction and are in¥ited to ongo1￿ tralnlng. We ask all Érant recipients to report how they spent th*r 8rant and what the 8rant enabled them to achleve. Thls reporhn8 Is de$l￿ed to be a useful and non-onerous process for grant redplent> 2ll20121 In deta 6r•nts to Groups The number of grants aw8rded to groups more than doubled from ISS In 2019nO to 374 In 2020121. the value of gr?nts lo groups rose from £893m In 2019nO to £1,782,819 In 2020121. The number of dlfferent orB¥ni5atfion5 reCeI￿n8 8rants increased from 116 In 2019120 to 246 In 2020121. 100 groups were new to the FOUnda￿On. We awarded over El.4m of 8rants awarded through 299 Coronavirus Response and Recovery grants duiin8 the year. To Ènable us to ￿Spond to Ihe Coronavlrus pandemlc effeciiveky Broups could recebve larger grants than our usual maxlmum and could re¢elve multtple grants as thdr needs developed. Feedback from 8roups at the end of thelr Brants has hdped u5 to assess the impact of these grants. colo￿VIruS Grants helped to provld• Indlvlduaw mosl tsa￿¢ needk" Improving and safe8uardln8 health.. respondln8 to poor and deterloratlng mentsl health pro￿dIng baslc nece551lles Ifofyj. kyescrlpfjonsl hdpSn8 infectlon wntrol Conne¢tin8 people who were otherw15e completety Isolated: 8ivin8 people hurnan contact so they dld not feel ￿mpletelY cut off making people feel they were not for8otten Supplyin8 free food to the Increa51ng number of people fadn8 finartcial difknlty Providin8 creati¥e and fvn adivities to compensate for the lack of opportunrty to go out Reassurin8 and 5UPPOrtin8 to reduce anxiety and stress Tacklin8 inequalities of access to the onllne wodd. partlcularly for sthoolln8 Coronavlrus Response & Recovery Grants enabled youps to; 8row thelr seN¢es to respond to new and increasing needs adapt their Services for coronavirus, movin8 online or puttln8 Infe¢tlon-preventton measures in place remain financiallyviable In the face of loss of Income and hlgher ¢05ts The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Achievements and performance- continued Groups felt supported less an￿ou5 about fundin8 able to respond rapidty 10 the needs ar￿nd them We have used what we learnt from our Coronaviru5 Response and RecobTry prrwammÈ to infom) the development of our new Communlty Grants programme whlth we launcheil In Juty 2021 to repla￿ our prevlou5 Foundation grants programme. Our Community Grants programme supports projects that improve people's Irve5 in Wiftshire and Swlndon. We prioritise applicatlons from gras5rotsts and small io medium-sized or88nlsaiions thai are worklng wlth peop￿ on low Incomes. We tontinue to bè as supportlve as posslble io all Broups that apply to us for funding. In addltbon to the CoTonavlnJs Response al￿ Recovery grants progfamme, we contlnued to dellvery grants wlth funds from Wesse¥ Water, the S¢ien¢e Museum Group Wrou8hton Solar pa￿ Community Benefit fuNI and #lwlll, awardlng 29 grènts totallln8 over £12S.CKK) to groups In the county. We also awarded £20.(Th to groups In Oxfordshlre under the ￿wIll programme, as Oxford5hire Community Found*ion did not take part in the wo8ramme. Strat•8lc Grants Pro8ramm•s In 2020121, work contlnued to be delfvered under our 3 Strate8lc Grants proorammes fvnded by grants awarded slnce 2015116. PATHS- The Founda￿On'$ flrst strateÉlc grant commissloned Bamardo's to dellver thdr soclal and emotional learnln8 pro8ramme PATHS In Swindon Academws primary sthools, in some of Swirwjon's most dlsadvanta8ed communltles. Th15 grant completed In Juty 2020. Ch4er the 4 years of the wo8ramme. the pro8ramme en8a8ed a total of 3.230 chlldren and tralned 80 staff. Over the 4 years, an Improved or stable Score of al least 70% was recorded in: Improved concenlrafjon and attendon Improved social and emotional competence Improvements In self-management. lfflprovements In declslon makln8 skH Improvements In relat5onshlp skllls Posltyve impa¢t on behavloyr En8a8ement levels RESPECI- comMis￿Oned Swindon BoTou8h Coundl and Wlltshire CourKOI to deliver a yo8ramme addre551n8 dome5fjc vlolence perpetrated by adolescents. The Foundafjon's RESPECT programme in Swindon com￿eted in Au8USt 2021. a 2nd grant ha￿Tr8 been awarded to Swindon Borou8h Councll ISBC) In 2019 to bulld on the success of the first grant. This 2nd giant has enabled tr￿ $8C staff io fvlly embed thdr use of the hlghty effecttve RESPECT approach, training more staff and developing group SeS￿onS for families. Working speaffi(ally with the 103 families who were on a wamn8115t for the pro8ramme, 95 families have 8one on io not need statutory social ¢are192.23%1. Positive changes reported by families indude improved relationships. happier chlhlren. a better understandlrvd of the needs of their child, and stratesies t9 5UPPOrt theffl, resultinB in reduced meltdowns, and no violence. Feedback from families Indudes.. Ihe programme was extremely useful and gave rne lots of new strategies to try. I feel that I now have the onffidence to be able to handle tmth my 50n'5 thaltenwn8 behaNiour in a much more positive way.. The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Achievements and performance- continued.-. Now fulfy integrated Into its systems, SBC I￿11 retain the RESPEcfapproach to support famllle5 at rt5k of statutory Interyenfjon, addressi￿ adolescent domestic abuse and preVen￿Trg the eKalatlon whlch puts chlldren and youn8 people at 8reater rlsk of enterlng the care system. Stronger Familles- a S-year prc#dramme in the Friary area of Sallsbury supportlnB the community to build more reslllent famllies. Closely workiry8 wlth Salisbury fjty Coundl. the programme funds an Èxperienced community development worker to give famllles in-depth and sustained support and help othÈr a8erbdes to maxlmlse their impact on lamllles in the Friary. Funds are also spent on other projects identthed by the community as the proBramme progresses. The programme has commlssloned Home Start Sovth Wiltshrre to support families wlth young children and most recently supported SalLsbury aty Counal to set up a Commvnlty Supermarket to help addr￿ food poverty and provide a support hub for the Community. The progfamme runs unlll Marth 2023. Granls to Indlvlduals Educatlon Grants We awarded 1318rants totalling £3S7,251 In 2020121 to support chlldren and youn8 people wlth thefr edutsfjon, thls compares wlth 125 grants In 2019120 totalllwiust under £305.LKK). The malorlty of our educatlon fundln8was awarded as bursaries of £1,6(Xl per year to studeb)ts from low4ncome famllles undertakin8 undergraduate degree courses. In 2020121 we awarded unfverslty bursarle5 of £305,600 to 59 compared wlth £257,250 to 55 students. Bursaries support youn8 pewe from very chalkn8in8 back8rounds. helping to allevlaie thelr Inanclal concerns and allowlng them io focus on thelr studbes. Through our voCa￿D￿al Grani pro8rammes. the Foundatlon sUPPOrted SO young people from low4nc¢yne famllles to pursue vocallonal 5tudles wlth total grants awarded of over £35.000. 7hrough our Educatlon Support programme. we helped meet educatlon•related Costs of 21 chlldren and youn8 people wSth addlllonal educatlonal needs, awardin8 obrr £15,IXiI. Survlvlfig Wlnler Grants In prevlous years. our Sur¥lvln8 Wln¢eT programme has made grants dlre¢tly to indlwduals. In 2019120 we awarded 8rants 10 266 Indlvlduals of £3¢J) each. totallln8 £79.8CO. In 2020121 we ¢han8ed our approath and awarded 6 large grants totsllln8 nearty £140,0(M) to our partners Age UK WiltshSre, the Centre for Sustainable Energy. Cwttzens Advice SwiAdon and atlzens thce Wlltshlre, enablln8 them to pro￿de advlce and support to indlwlduals fac1￿ fuel poverty. Indudlng grants to pay for fuel, delivery of hot meals, ad¥l¢e on enewy use and support to claim beneflts. Wlth thls change the Sutvlvlng Winter pro8ramme 2020121. inueased the number of peo* helped to 1.221 individuals from 737 household5. We wlll be COn￿nVIn8 wilh this model in XJ2V22. Our Grant MakSng and the Unlted Matlons Susiainable Dwelopmerf Goals We started to map the grants we give to groups against the Unlted Nattons Sustsinable Development Goals ISOGSI in 2019120 and conttnued this work In 2020121. The SDGS are Blobal. but they apply to everyone. and groups in Wiltshire and Swindon are deliverrng towards these goal5. In 2020121 our grant$ 10 groups contrlbuied to 13 of the 17 SDGS. having the most syificant impact on six of the goal5: SDGI: No Poverty, SDG2: Zero Hunger, SDG3: Good Health and Wellbein& SDG4: Quallty Educafjon. S￿10. Reduttd Inequalities and SDGII- Sustsinable Cltfes and Communltres. Our reportlng against SDGS contrfbutes to rai￿￿8 awarenes5 of how kxal activity contrlbutes to global challengek We a committed to continuin8 this work In futu￿ years. The Communlty Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Achievements and performance- continued Voluntary sector devolopment and support for Students We reco8nlse that we can On￿ achieve our aim of Improvlng Il¥es In our iounty if the voluntsry sertor ènd Indr¥iduals are equlpped wlth skllls, Infomiation. and encouragement. a5 well a$ 8ran Our Funder+ approach Is embedded In how we deliver grants. Funder+ is a combination of drfferent strands which intedock to stren8tkn our communlfy and Indudes the followlng: dvlce. trai orknn In receipt o Supportln8 Students to enable them to access educafjon Wlth the stsrt of the coronavlrus pandemic. the voluntary sector ha*J to rnpldly adapt and there was unprecedented need for 8roups to work together and to be Integrated wrth the work of statutory bodies. We played a 51gnificant role In meeian8 the new needs of the voluntsry sector. unllle5 and support to our hxal voluntary sector or8anlsatlon5 We provided in4epth and respOns￿e adNlce throueh the Brant4nakbng process to or6an15atlon5 faced wlth new and unfamlllar challen8e5. 77 8roups recelved ad-hoc advlce through phone calls and emall and a further 19 groups were pro￿￿ed wlth i:1 ad￿ce se55ions. In December 2020. we hosted. wllh Wlltshlre Coundl's Publlc Health Team and the Wiltshire Wlla8e Halls Assoclatlon. weblnar, fte￿anfing coMmun￿V group5 and actlvltle$ 5afeV. rated a$ 8ood or excdleni by 98% of those who attended. From january 2021. we Introduced wdl attended monthly onllne Meet the FundÈr events. 8lvlng groups Informatlon about our grant programmes and those of other funders a5 well as an opportunty to nelwork with each other. In the 3 months to March 2021, we held 4 Meet the Funder events whlch were attended by 157 Indlvlduals. We ran several networks to brlng together Voluntary sector organb5atlons with common Interests. Thèse networks have: created new connectlon5 between groups In¢￿8$e￿ conflden¢e and knowledge. learnln& and shariwfrom each other Increased our understandln8 of local need and sector responses Increased group5 knowled8e of the Foundatlon We held four ConnecttnB Network meetin8s, brin8in8 together oryanlsatsons wt*D address b501atbon. Th15 was partbcular relevant in the pandemic, with over 180 attendees auos5 the meetbn8& We Inmated In Juty 2020. the Wiltshire and Swindon Youth Work Ne￿￿rk In response to dernand from youth worker5 for an Informal opportunity for youth organisatlons to meet and learn from each other. A mailinB list of 711Tr members re￿1Ve regular updates of Informatton. Vllth network membeTS' Insight we have prepared thfee pollcy papers on the Impact of the pandemic on youn8 people and the youth voluntary sector. We a￿ In(TeasI￿lY 5eeii as a'8Trto ad¥￿te, for the youth voluntary sertor. Our support for students is an e55ential tomponent of our educattonal programme5. M05t of our students are the flrst In their family to 80 lo universlty. so we give practical support to both students aNJ their families wilh completing our applicatlon form. giwng advice on other bursarie5 and support them when re¢dvbnB thdr results, 8oin8 through clearln& and MOVI￿ away from home. We continue to support students thro￿lOuI their univw5ity career. Community leadership In 2020 our external connecfjons grew slgnlffcantly as we parbapated kn cr0s54ector coronamlrus response partnershlps. These met Inbt5ally dally. then weekty and monthly. Margaret Firth. our Research & Engagement Director. was the Voluntary and Communlty Sector IVCS) Partner at the Wittshire Recovery Co-ordinatson Group IRCGI wlth the chlef executives of Wlltshlre Councll, the CCG Icllnical Commi￿10n1n￿ Group). LEP ILcKal Enterprise Partnershipl and other statutory bodies. We are ocfvely engaged In other key partrwships includin8 the Swindon VCS Recovery Group, Wlltshire Countifs BAME and Inequality Work5tTeams, South-west Funders, Vlittshire and Swlndon Health Professional Leadership Partnership5 IPLNsl and Integrated Care System IICSI and the Children and Families Volurbtary Sertor Fwm. The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Achievements and performance- continued We also have a wlde range of more inforrnal engagement with health, local authoflty. and voluntsry sector colleague5 and have forged 51ronger collaborafjve relationshlps wilh other fijnders and infrastructure organisations- Communtty First, Voluntary Actlon Swindon and Wessex Community Action and our two counclls- Swlndon Borou8h Counal and Wlltshlre Council. Through these partnerships. alon8With our other Funder+ acttmtles. insight from our 8rant-making and our networl we are helpln8 to Inform local pdlcy and declslofrmakln& and Increaslng sector connections and Impart. In February 2021. we were asked by the Bank of En8iand io host a Community Forum wlth then Chbef Economlst Andy Haldane. The airn of the session wa5 for the Bank io hear how ihe coronavirus pandemlc affected the organisations we support and the Foundation. We convened representatives from 5 orBanisation5 from au9￿ the ¢ounty to provSde the 8ank w6th their first-hand experiènce of the affects of the coronavirus pandemlc. In 2020121 we commbssloned an anatysls of need in Wiltshh and Swln¢lon frnm Oxford COnsultar￿ for Soclal Incluslon IOCSll. A5 wdl as uslng this anaty￿S to help tsr8et our grants on those In greatest need In the county. we have also publlshed thelr report oft our webslte for use by the voluntary sector and other key stakeholders. Fundrab51ng Durln8 2020121 we added donatlons of £523,522 to our endowment, thts Is a s18nlflcant Inuease to 2019120 where we recelved endowment donatlons of £240,973. The 2020121 total Indudes legacy Income of É455,9CQ to the Thomas Charitable Trust, which was transferred to ihe Foundation in 2016. The le8aLy Is anfjclpated to total £455,9C(J and has been accrued on this basls In Ilne wlth the SORP requirements. Since Marth 2021, we have received payments totalllng E290,OCM) relatlng to thls le8acy. We secured £1,598,143 In flow through donatlons for onward d15tr1bution, exceedin8 our tsrget oflust under £600.ts)O. Thls represenred a si8nificant Increase on 2019120 of £687.658. ft was also the largest amount of flow through donatlons recelved In a sln8le year In our 4&year hlstory. In March 2020 we launched the Wilishlre & SvAndon Coronavirus Tiesponse Appeal wlth an Inlllal fijndralslng tar8el of £SO,LKJO. In the 12 months that followed we ralsed over £l.Imlllion. Fundin8 was secured vla partnerships with UK Communlty Foundatsons, the Nat6onal Emergenues Trust and the Department for Diqltal, Culture, Medla & Sport. We recelved donattons from the Office of the Pollce and Crime Commissioner and charftable trusts, including Zurich Communlty Trust and lool bu￿neSseS includin8 Wessex Water. SGN. Thames Water and Nationwide. wa Its Oaklield development 85 well as many Indlvlduals, sorne of whom donaied mutuple time In November 2020 we launched our Ilth annual sUTr￿￿n8 Wlnter c4mpa8n. io sUPPOrt people who Ilve In fuel povèrty. Each year our Survivln8 Wlnter programme Is funded by Indmduals across the county, many of whom Ove the6r govemment Wlnter Fuel Allowance to support those In need. We also recelve donations from companies and ¢haritable trusts. In 2020121, we ralsed over £140.rJx), the largest amount Taised in the appears hlstory. Thls Included over £54,(W from Wlltshlre Counal part of an allocafjon from central govemment fundin8. DOna￿on5 to our runnlng costs also increased a8alnst ￿Or year. from £120.12S rn 2019120 to £182,579 In 202012L phSlanthropy development In 2020121 we continued to work with donors, funders. and profe$51(Thl advlsors. h*hllghifjng need within the county and the ways thai ihelr philanthropy can help to brine change within the comrnunitie5 in which they live and work. Our alm Is to establish long-term partnershrp5 for good ￿thIn the Community and to bulld a culiure of philanthropy wlthln our county. Through our Phllanthropy Advi￿, we seek to inspire and enable people. buslnesses, and charitable trusts to make a dlfferen¢e locally. We work with our partners and many fundholders to delfver their philanthropy by providing tallored fund options as well as information and advlce about local projects that mat¢h ihelr Interests so that their funds can be directed appropriatelv. li The Community Foundation for Wlltshlre & Swindon Report and Financial Statements for the year ended 31 March 2021 Achlevements and performanctr continued We contlnue to work with a wlde range of partners induding Wessex Water. GWR, WrouBhton Science Museum Solar Park Communlty benefft fund, theTrowbrld8e Communlty benefit fund. and'EmpoweT Communlty F￿ndatron. We also work with professional advisors- ￿￿1(Itors, accountsnts. and Mwestment athlsors- to raise awareness of the optlons for effethive local glvlnL to enable them, In tum, to help local people make a difference in their Comrnunltses and to encouragè tax èfficientwvin& We developed durir4q the year a phiianthropy 8uide entitled the"Gurfle to Givin( which has now been published. A $18nlfl¢artt part of ourwofk 1$ to Is to build an end0￿￿eThi fund. as a long-term commun4ty a55et that we steward toseThe our cotsnty now and, In the future. funding grants to local cornmunity ￿0up$ and indlvlduab. The endowment fund is made up of more than ISO fund5 set up by our generous funders to dèliver grant making in line wlth thelr Interests and Object4￿5. Our phllanthropy work ensures that their fvnds are used In Ilne ¥Ath their wSshes and desired level of Involvement In declslon maklng. We pro￿de annual statements hlghlighting the key Inanoal informatlon for each fvndhohler and the 8roups thelr fiJndln8 has enabled u5 to 5upporL We undertook a donor survey In Marth 2021. Th1$ Identffied that people give through us io support Ioc41 causes and Small charities and groups that they wouldn't OtheTh￿Se hear about. Donor5 Ilke the drversity of causes available and flnd the FoUnda￿On an efficlent way of wpportlng muhfjple loc71 charhles rather than gmng Independenlty. They also Ilke the endowment modd and knowlng thelr do￿a￿on will make a differen￿ over the lon8 term. The top three causes that our donors are passlonate •bout supportlng are.. poverty; lonellness and i501ation: and chlldren and youn8 people. These causes map dlrectly to 3 of the4 prlorfty themes for us In 202V22. wlth CoronavSrus response belng the 4th prlorlty therne. Our fundraislng prartfce Is monltored and evaluated by our Development committee and Board of Trustees to ensure we fully comply wtth the Charitses (Protection and Social Inve5trnentl Act 2016 and GOPR re8ulthons. We do not Use profes51onal fundra15er5. In 2020121 we had a commerual partldpadon agreement wlth The Wentworth Wooden Jl8saw Company Llmlted. No complalnts were re¢ebved by the Fovndation regarding its fundraisin8 Xtr￿ty. We remaln confldent that our fundralslnB Is compllant wlth the reco8nlsed standards of fundra1￿￿ (set out in the Code of Fundra151n8 Practlcel as well 3$ those required under charfty law and wider law. We would Ilke to take thls opportunlty to thank eath arKI every of our dontys who ha¥e SUFVNted us this year and enabled us to address need across the county In suth a dIffi￿lt perlod for the whole country. Glfts In Klnd During ihe year to 31 March 2021, we re¢efved gllts In klnd amunYnB to £2,4LX) of executlve ¢oa¢hin8. Our plans for 2021122 We will continue to work towards the delivery our key Strat￿1( objects.ve to Significantly increase our grant-makSng investing at least £10 million over the 5 years to 2025 into our lotal communttles to h* t￿M thrlve 05 we continue into year 3 of our 5-year strategic plan. We plan to award Brants of £1.7m and se¢ure end(ywmw)t donations of £0.4m and llow ihrou8h donations of £0.8m. In September 2021, the Board of Trustees approved our lon8-terni financial plan whKh detaile(I Investment In the key areas of phllanthropy, MaTketSTrd and Digltal Transformation to enable us to a¢hwe our key straiegtc oblectkve In a sustainable wav. We w511 ¢ontlnve to be flexlble with our approach to Wid working between home arKI office, enabllng the team to work In a way that Suits their own needs and that ofthe organisalion. 12 The Community Foundation for Wlltshlre & Swindon Report and Financial Statements for the year ended 31 March 2021 Flnancial review Followln8 the effects of Coron￿ruS on our flnanaal position * the end of 2019120, we saw a boun￿ back In Investment value5 during 2020121. This resulted in an overall increase in the value of the lunds held by the charity. Increaslng from £23.003.868 at the end ol March 2020. to £28,348.474 at the end of March 2021. Key number5 3QOXI.(Tr) 2S(W(XXI 2qOXL))) Is0￿,r￿ Iqc#)qcco SJMXI LL i%¢)Jqco)I 201¥20 23,iW 22.644260 ILSS7.2561 1.786528 I￿524 2020121 24344474 27.B7L266 5,172,434 2?32 2.7EIJfi92 • cfverall Fund5 £ Endowment É I￿￿$tMeN m￿Me￿ £ InMme £ ExpenW cosis were classlfied In 2019120 and how they are now dasslfied can be found in note 7. Our overall expendlture Increased from £1.860.524 In 2019120 to £2.760.692 in 2020121, an increase of £900.168148.4%1. The amount of 8rants awarded Inet of retums) Increased from El,176,780 in 2019120 to £2.102.226 In 2020121 lin¢ludln8 £2,082,226 In County and £20.000 in Oxfordshirel. At the same tlme combined expenditure on all other areas of our work reduced from £683,774 Sn 2019nO to £658.466 In 2020121 a reductson of £2S.278 or 3.7 Overall. £2.371,869 or 85.9% of our total spend during the year dlrertfy advanced the charitable purposes of the Communlty Foundatton, In 2019120 th15 equated to £1.482.029 or 79.7 Our ovÈr?11 expendlture between major categories of eypenditure Is detalled below and more detall is provoded for each caie80ry in the followlbvd ¢harts and explanafjons. Grants awarded Inet of r￿UrnS) as a percentage of our total expenditure rose from f 1,176.780 or 63.2% of our total spend In 2019no to £2,102,226 (bein8 grants of £2,082,226 In county and £20,IJ)) in Oxfofdshlrel or 76.1% of our total spend In 2020121. Thls represented an Increase of £925,446178.6%1 in the total amount ofgrants awarded net of returns. In 2020121 we awarded 5218rants totalllng £2,144.871 to groups in our county, thls compares to 546 8rants in 2019120 totallSn8 £1,278,527. The number of grants awarded to groups more than doubkd from 155 in 2019120 to 374 in 2020121 as the Communlty FoUnda￿On responded to the difficulties experien¢ed by voluntary sertor organlsations. The number of grants awarded to Indlvlduals however decreased frorn 391 in 2019120 10 147 In 2020121 because of a than8e thè way Surviving Winter programme operated in 2020121. This change and its effert are dl%ussed furthei below. 2020121 saw a pauslng In our F¢)undation Grants programme with grants of only £40.((KJ delivered at the start of the year 12019120 £489,244>. Funds which would have been used for Foundaifon grants ¥￿e instead used to make awards under our Covid Re5wnse and Recovery prograrnme. with pemilssion of donors Sought where required. In total, £1,410,624 of our grants In 2020ni were awarded through our Covid Response and Recovery pro8ramme12019120 £15,824) and represented around ¥3 of all 8rartts awafded in 2020121. Through our education grant schemes. we awarded 131 Erants to students12019120 125 Grantsl. Of thèsè the majorlty were bursaries for students Studyi￿ for de8ree5. The Community Foundation for Wiltshire & Swlndon Report and Flnanclal Statements for the year ended 31 March 2021 Financial review- continued... The amount awarded for degree studies inueased by 18.8% from £257.250 In 2019120 to £305,6fyJ In 2020121. Vocational and Educational 5UPPOrt 8rants also inueased from £46,793 in 2019120 to £51,083 in 2020121 a 9.2% increase. Our Surwvlng Wlnter programme Increased In I￿h scope and ￿3¢h wlth 737 Hcwseholds and 1.221 IndI￿dUalS reached wlth fuel grants, advke regardln8 fuel povemi and meals being provided as part of the programme. The total amount awarded through the piogramme in 2020121 was £138,316 a{fvi￿ and grants 8Nen by our four partner or8anisations, UK Itshire. Citizens Aoknce Swindon, Cittzens Athce Wlltshire, and the Centre for Suslainable Ener8y. Thls change in approach saw the only grants to indiwduals in the period being 16 8rants gl¥en to Individuals at the start of 202012L utilisin8 funds from the 2019120 ompal8n. In 2019120 a total of £79ACfj was awarded a5 266 grants of £3￿ to indlvlduals In fuel poverty. As In previous years a small proportion of grants made in pmious years were ehher retumed af payment of ag￿ed amounts was not made due to a ¢han8e in circumstance5 for the reclplents. meanlng that they were no longer able to be able to recelve and utillse the 8rant. The amounts of these returns and the feasons for them are shown In the table below.. Grnnts retuffl￿ or ufiallocated In e•r wlth Reason Groups Una￿￿e to dellver ser¥kes or fully utlllse 8rants due to Covld19 Groups rn)t spendiry f Ldl amount of grant awarded Chan8e in requirement for grant Bursary 5twlents continuiw wlth St￿1[e5 Bursary student charyiry from 4 year to 3 year wo8ramme Butsar Student decidln to defer1￿11 coU￿e Totsl Number Amount 21.300 5.530 14,640 14A75 1.5(Kl 4.800 62.645 15 The overall amount returned or unallocated in 2020121 was £62.645.12019120 £101.7461. The two fl8ures are not dlrectly comparable a5 the 2019120 arnount Induded a onedf reductlon In the total cost of the Stronger Famllle5 programme of £49,112. When this is dedu¢ted from ihe 2019120 return5 of £101.846 the dlrectly comparatlve fl8ure for 2019120 becomes £52.634, glvlng an Increase In grant returns of £io,oii119%). Thls Increase was b)Ot unexpected w￿h £21.31XI of ex¢epfjonal grant fetums as the Corona￿r￿S pandemlc made gervlce delivery very dlfflcult for many voluntary seaor organtsallon& We were encoufaged that the total bursary returns due to students dlsconllnulng ihelr studles. deferrir￿ their courses. or changing their programme5 £21,175 was less than the comparable returns for 2019120 whlch totalled £39.1)90. What did we spend on other Charitable ActivSties É35QCQO £3CQ.CQO £25QCI)O IV￿n￿ry sect￿ Dewlopment & 5￿Jxlrt for 5ttJdents £2C(),t(¥) •Cosi of Grant maklred £150,cr*J £iC•J( •Communffy Lpadership £50tKo £0 2019120 202ty2J 16 The Community Foundatlon for Wiltshire & Swindon Report and Financlal Statements for the year ended 31 March 2021 Financial review- continued The Coronavku5 pandemlc had a major impacl on the voluntary sector and incseased the urgency for grants to be dellvered. We slmpllfied our grant makin8 processes to ensure that a551Stan￿ was accessible so we could respond quickly to requesis from or8anisat5ons and groups often newty formed. Our Grants team therefore devoted more time to adwslng those applyln8 for 8rants and helping them to sustain their activities. Students too nèeded additional support. leadln8 to an increase In costs allocated to Voluntsry Sertor Development and Support for Sludents from £62,371 in 2019120 to £85,899 ift 202ty21. A5 the effects of the pandemic abate. we are reinstatfjn8 our Funder+ workshops and Meet the Fufjder events lall sttll currently onllnel. A5 a result of process changes, the costs of grant rnakln8 deuea5ed from £132.995 In 2019120 to £115,377 In 2020121. (￿ra11, for every £1 spent on Grant makin& we awarded £18.22. In 2019120 the coMpara￿ve figure wa5 £8.85. Our expendbture ￿ Commsjnity Leadership was £68,367 2020121, a reducrfon from £109,883 In 2019120. 2020121 was somewhat of a transltlonal year In respect of th15 cate80ry of expenditure. Our former CEO who devoted some of their time to ihls athyity left at the end of February 2020 and three si8nillcant Comrnunlty Leadership project5 a150 fin15hed at the end of 2019120. No dI￿rtlY slrnllar projects were caTrled out in 2020121. Exduding the costs of the cLNnpleted prolects from the 2019no coMpara￿ve would glve a more directly comparable figure of £70,885 for 2019120. In October 2020 we employed a part-dme Researth and En8a8emeni mana8er to lead on thls sethon of our work. (who has slnce been promoted to Research and Engagement Directorl. They have been devek*pln8 Ilnks across the county and we commlssloned a researth report, the WlltshiTe and Swindon Needs Analysls to Inforn) both ourselves and the voluntary sector as to need within the county. We ant6opate the expansion of this fOte80ry of our work In 202V22. Expendliuro M ftaislni Funds What was our expenditure on raising funds? £iw( £160,OJO •Fundrai>ty tosts £144LDJ V £￿,0( £fO.OQ) •Pmptwty ma￿a￿e￿￿ CfAts 40.OCQ £20XOJ M?n4pmentC05ts Éo 2019120 202aQi Year Ourlng 2020121 we saw a slgnili¢ant diop in fundraising ¢osts as rnany acttwties a550dated wlth th15 Category were not posslble due to Cofonav7rus re5tTidion5. Costs therefore reduced from £80,960 Sn 2019120 to £50,545 In 2020121. when comparlng these costs. with fundraised Income. of £2.304,24412019120 £1,048.7561 every £1 of fundralslng C05t raised £45.59 compared wlth a slgnifitantty lower f¥ure of £12.95 in 2019120. There were no property mana8ement fees In 202012112020 £6.7741 as the remaining investment properties were 501d in 2019120. Investment management costs are a necessary part of manaBin8 our endLy*ment. There was an increase of 2.3% on last vearfs char8e. Investment management fees as a percentage of the year end value of the endowmerrt amounted to 0.31% of investment value12019120 0.37%). 17 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Financial review- continued Expendlture on Charltable Support Costs ThSs ¢ategory of ¢0sts groups together a number of diverse costs which yjpport the Charit￿5 work. It indvdes a on￿ff cost In 2020121. the costs of iunnin# our offices whl¢h were effecD"¥ely mothballe(I durfir£ the pandemlc, as all staff werè required by law to work from home. These cost51£23.5221 generated no benefit for the charlty and we have not appordoned these costs over all of the operating departments of the d￿rIty as In 2019120 and In years. Apart from these one-off Costs the total costs for 2020nl undef thls headlng were £229,573 cornpared w￿h equlvalent costs of £207.458 In 2019no, a 10.7% Snuea5e. What did we spend on Charitable Support Costs? £%qcxJo £25q()Xl £200.0)0 •Phlanthrow OeNtlownint •Go4*mahte & Straie8y £￿0,0￿7 ¥Ch•rity Opeiations •Fwxlratyre &Jpport Cosis Uhattiibuted ufk• CosisJurth8 cts￿d £50 £0 2019120 2020f21 The largest element of these costs Is made up of Phllanihropy D￿￿0Pment costs £99,50312019120 restated amount £102.9851. These are the costs of developlng Philanthropy across the county. educating indfviduals and companles as lo need and supportlng our BrowSng donor base wlth advlce and guldante. Governance and Strate8y Costs represent a se¢oThJ 5*nNlcant portlon ot th￿ costs. These costs have risen In 2020121 from £62,536 in 2019120 to £73,548 due to an increase in the workload in devising and preparfn8 4 five-year strategy and the Involvement of a larger leadershlp team. The flnèl part of these costs are the costs of Charity Operation5 and Fundrdi5ing Support costs. The former pkk5 UP the time spent on mana8in8 the day-to-day operatSons of the charity. while the latter picks up the costs of processlng dcnatlons and thanklng donors. There was an increase In both cost ute8ories commensurate with the increase in donations to the charity. Principal risks and uncertainties The charity is active￿ involved in mana8in8 risk. As noted in last yearfs trustee repM, the trustees reviewed the approath to managt'ng rlsk in 2020121 and most111 out of 131 of the trusiees and all stsff members pathcipated in rlsk and fraud mana8ement tralnln8. As a result of their review the trustees determined the following approath to risk management. In addtdon to reviewing 3rKJ agreeing a statement of key risks and un￿rtaIntieS every June they would: The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Prlncipal risks and uncertainties- continued... l. Create a Ilbrary of key operational risks 2. Reoulre each work stream to produce a Strategic rlsk report for the Board 3. Develop risk awareness throughout the or8anisation 4. Embed a risk culture with siaff The review ofthe key risks and uncertainties affectin8 the charfjty recognised followln& along wlth the step5 we have tsken tts mtyte each of these risk> Rlsk Catt80ry. Unknown Imp•as of the (w￿ba¥0rUS pandem1¢ Rlth- Donor lat*u• A sl8nlficant rlsk for usls donor fatlgue followin8 the Coronwrus pandemlc. Industry experts predlct an extremefy'chopp vear for all fundraising. We saw Income ai hSstorically high leveLs in 2021122. but as or8anlsations can get back to large event fundra151n8 there wlll be many MO￿ chasin8 the donor pound. Mltl8atlon We have strong straieBk and operallonal plans for the Derfelopment & Marketlryd workstream and conllnue to build our donor toolkit wlth the webslte. the Wlltshlre and Swindon Needs Analysls. targeted themed c•mpaWIs, our Gulde to Giving and the developrnent of our Frlends Pro8rèmme R15k- an un¢ertaln Voluntsry Sector •nvlrnnmont A secondary pandemlc Ilnked rlsk for us15 Its unknown impact on the wjluntary sector. The nature of thls rlsk has evolved slnce thi5 dme last year when we dld noi know11 there would be a voluntary sector for us to fund. The ongoing uncertalrbty Is now that the needs of the voluntary sertor are to an exten¢ unknown. Due to restrktlons and the Impact of the pandemk there has not been a fvll reopenln8 of voluntary a¢tivities In the county, and therefore or8anlsaffon5 do not know what thelr requiiemenis wlll be. The uncertainty of fundin8 from 8ovemment and local authorities Is a huge concem for the voluntary sector we support. MItIBall( We will conttnue to Ilsten to the sector. beln8 present and supportive to or8anisatsons wllh our Funder+ actmtles. We continue to feed our learning from the lasi 18 mmths and on8olng understèndSn8 of the sector Into our Standard grant makin8 processes and decislons. Rlsk ¢ategory- stsff Wellbelfi8 and Retentlon: Rlsk- Staff wellbelnB durfn8 the tr•nsltkni to m(bre usa8• ol the offl(e bylldl The prlnclpal rlsk and uncertainty re8ardin8 siaff wellbein8 and retenyon is the impendlng return to"nomal". We thSnk the retum to office could be harder for indNiduals than the inillal lockdown. There is J risk thai we wlll lose staff if they have reassessed their own Ilves due to the last 18 months. We are however seelng Increased numbers of staff ￿turnIng to work in the office on a re8ular basis whsch is encoura8ln& MItIBatlon We COn￿n￿e to remaln fully flexlble and responslve to Indivtdual team needs. ensurlng staff feel comfortable wlth our approach. We wlll contlnue wlth flexible workln8. Monthty l.'Is are provln8 to be ¥ital touth points with Staff. ftisk ute80ry- Diver5rty, Equity, and Inclusion IDEI) Rlsk- DEI Is not fulty embedded hrto al tho a¢ll¥liles of the Community Foundat￿￿ As an organlsation, we are committed to effecttvety representinB the whole community that we serve. We need to ensure that we have the requisite knowledge, skllls, people. and processe5 to do thls effecovely throu8houi our whole organIsa￿on, including our volunteers, the 6roup5 we support and the donors we work ￿th. Mldgail¢x) All mefflbÈr5 of staff re￿ived DEI trainiro duri￿ 2020 and we have a Stro￿¥ DEI poli¢y and actlon plan whith were agreed bv the Board in March 2021. The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Principal risks and uncertainties- continued We have increased the gender and a8e diversity of our staff tèam rn the last year. We plan to get to know our current voluntÈeis bettèr, with a Volunteerjourney projert plan in rts earty sta8e5 whrth will identify ski115 and experietKe across all volunteers and not just our trustees. We rewise that we are on a journey and have commltted to membership olthe DEI coalrtion la group of foundatlons which regularly gel together to develop best pra¢tf¢e in this ¥re•l. We have commtrted io provide DEI training for our Trustees and further tralnlrvd for the staff team. Rlsk catego￿ Fallur* to Sd•nth orwn of donor fund4 l•adSry to r•putaknal dam¥e Events globally. Is well as closer to home In relatlng to Col#on. ha¥efvrther hlghllghted the r15k of unethkal donations to all endowment holdln8 or8anisatlons. Althou8h thls rlsk has the potential for hi8h irnpart it does have low Ilkellhood but stlll needs to be reco8nlsed as a prlnclpal reputatioftal rlsk. MItIWl¢)n Our focus wlll be on the source of current and future donaD"ons rather than ex15ting entlowment funds. All donatlons over £IQO,(K)O currently 80 to the Board of Trustees for approval. We will formallse our due dlli8ence pr￿e$S which is cuirentlv based on.know your donort prln¢lples and CC8uldellnes ensurln8 we adopt best prJth¢e. Reserves pollcy In settin8 ovr reserves pollry, we are ¢onxlou5 of the need to ensure thal suffident reserves exist to ensure that the charity Is able to meet Its operatfonal requlrements and to be able to conynue to funrtlon In the118ht of a slgnlllcant downturn In Income. The tfustees have assessed the rtsks faced by the organisation and their likeW cost impllcations and have set a reseryes pollcy whereby unrestrlcted funds. whkh are the free reseThes of the charfty. are malntalned at a ￿Ve1 eqvatlng to between l and 2 months of operatlonal expenditure. Thls decislon has been taken In the knowledge that the chartty, as part of Its expendable endowment holds unrestrlcled ￿ServeS whlch, at 31 March 2021. amounted ro £5.930.33212019120 £4,537.3091 a5 detalled In note 19. In the event of finance5 belng needed whlch could not be met by the unrestrlcted funds available under the a8reed reserves pollcy. the trustees would expend part of the expendable endowment. ReseNes are monitored quarterly by the trustees, looking both at current reserve5 and the forecast POSitlon for the following year end. This ensures thai remedial athon can be tsken qulckty If requlred In the event of an unexpetted, $18nlficant. or Irreverslble defidt In the free reserves of the tharlty. As reser¥e levels may fluctuate durlng the year. tru5tees' pollcy15 to keep reserves under Constant revlew. but onty complete any release of fvnds from expendable endowment at the end of the financial year. The balance of reserves at 31 March 2021 was £63,41812019120 £52,493) wlth a balancè of £18,12612019120 £10,472) deslgnated for grant makiw representi￿ the dosing balances on our two unrestrirte(I grant funds. Ovr free reserves. excludln8 fixed assets amounted to £39,098. Although this is slightly below the I to 2 months range. the trustees are comfortable with this level of reserve5. Going concern The Iru5tee5 have considered the finanoal position of the charity at the year end to ensure that they are 5ab"sfTred that It ¢onibnue5 to be re8arded as 8oin8 concern and that it is able to meet its liabilitres as tbey fall due. Followin8 the release of £650.1KKI from our Smith and Williamson investment portfolio in December 2020. the balance sheet at 31 Marth 20215hows a 8reater level of Ilquldlty than In the prevbous year. The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Going concern- continued Current assels exceed cufrent liabilitles by £618.8￿ and at the year-end there was £637.424 held in cash, both at bank and In short ¢erm cash deposits. Debtors included a le8acy of £470,￿ of which £290,1)xi has been re￿trVed on account slnce the yearend. As such ihe trustees are confident that resources exist to meet liabilities as they fall due. The fixed assets of the charity consist of three investment portfolios invested principally in investments whith would be easlly reallsable In case of need. Accordlnthf. the iwstees are rea￿￿red that the charlty Is In a strong flnanclal poSI￿on and may be regarded as a golng concern. Investments We malntain three investment portfollos managed by Smiih and Wllllamson. Qullter Cheviot and CCLA. At arry given time the value of funds held under mana8ement. should e¥ceed or be equal to the iolal Wdlue of the endowment fund, wllh a tarBet dlfferen¢e of between £0 to £50,(￿. At theyear erKI, as noted in Note 23 the value of investments exceeded the value of the undeAylnB endowment by £22,881. Our Investment polbcle5 8overn how the investment$ are mana8ed. Our Investment policy was set In 2012 In accordance with the guidellnes issued by the Charity Commlssion and wrth reference to the Trustee Act 2l￿ and is revlewed annually. Day-to-day overy8hi Ss carried oui by the Co-lnvestsneni ¢ommlttee and ￿perViSed by the Audlt. Flnance and Rlsk commlttee on behalf of the Board. The Co-lnvestment Commbttee representln8 four cornmunlty foundatlons based In the Southwest of England Is Tesponslljle foi overseelng the management of the three portlollos. Each Foundadon portfollo retalns Its Indiwdual identity, but the same Investment mana8ers are uJllsed to benefft from the cofrespondln8 economles of scale. The commlttee meets on quarterly basls and has representsttves from each Foundatlon who are accountsble to thelr own Irustees. The investment objective for all portfoli05 15 to maximiie the total return over the medium and lon8 tem, wlthout taking undue risk. The alm is to maintain the capital value of the fund, allowing for inflation and to generate a return (whether from capltal galns, dlvldends, or Interest) for 8rant pro8rammes arml core costs and to deliver a total return equlvalent to Consumer Prlce Inflatton + 4% pa measured over rolllng three-tO•lfve-year perlods. Thls oblectlve was re￿eWed durlng the year and the members of the Co-lnvestment committee a8reed that thts objecifve remalned appropdate for each of the three portfolios under management. Trustees may make decI￿On5 to release galns from Investments frorn tlme to ￿rne to PrO￿e additlonal grants. Investments are made In an appropriate mlx of real assets l.e., equttSes. fixed interest securliies, alternative assets, and monetary assets. Trustees recognise that ihe returns on equitles. whlle expected io be greater over the lon8er term than those of fixed interesi and monetary assets. are Ilkefy to be more volafjle. In}￿lment in a mlx of asset dasses Should nevertheless provide the levds of retyrn requlred and mrli8ate volaiiiity for the Foundatlon to aehleve oblectlves over the medium110￿ term. Our Investment rnana8ers adhere to the Foundatlon's ethical policy noi to diredy Inve51 In slnBle compènies where those Investments and their non-financial actiiAtles compete dlrectty wth the goals of the Foundation. They aE50 conslder how the companies in which we invest a￿d￿$S Enmronmental. Social and Governance IESGI issues and integrate these into their businesses. The investment mana8ef< purchase of collectives does not represent a dlrect investment within thi5 8uidance. 21 The Communlty Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Investments- continued Over311 Investmenl Performance Investm•nt p•rfMn•nc• and valu•s at y•¥ •nd Value al 3110312021 Percentage ol port1￿10 at year end Smth & Wllltsm50n £16,498.838 59.1% Qumter Che¥bOt £5,887.474 21.1% £S,529,711 19.8% Performance 12 Months to date Performance 36 Months to date 31103120 Yleld 31103121 Yldd 25.7% 23.1% NIA 2.3% 24.3% 11.5% 3.5% 8.6% 3.1% 2.3% 3.0% Durln8 the year we enjoyed an excellent capllal performance vhth total 8ains Iljoth reallsed and unreallsedl of £5.172,434, repre5entin8 overall gain5 of 24.9% across all three portfolios. During the previous year. losses of £1,557,256, a reduthon of 6.3%, was realised as a result of the market downtufn at the start of the Coronavirus pandemio Durlng the year, $18nlflcant cash wlthdrawal of £6SO,Cth was made Irom the Smith and Williamson investment portfollo to ensure that sufficlent cash was avallable to meet upcomln8 want p•yment> These funds were Invested wlthln the Fla8Stone cash porrfollo (see note 16 for further deiallsl. The chart above shows the net galns over a both a On￿ and three-year perlod. The underperfomiance in 2019120 has been recovered and the galns over both a one year and three-year perfod exceed the tar8et return ol CPI + 4%. Quilter Chevlot have not yet managed our Investments for three years and therefore no 36.month WfOrman￿ fi8ures are available. As noted earller and shown above the Income Y￿d from exh of our Inb*stment portfollo5 has dedlned In 2020121 from 3.0% in 2019120 to 2.4%, a8ain thts wès due to the effects of the Coronavorus pandembc. Structure• governance, and management GoverninE Document The Communlty FOUnda￿On for Wlltshlre & Swlndon (the Foundatlonl Is an l￿dent registered charlty. The reglstered chailty number Is 1123126. A ¢ompany Ilmited by guarantee olled The Community Found*ion for Wlltshire & Swlndon wa5 Incorporated ofi 14 February 2C*J8 and the actiwties and all assets and liabilitie5 of the pmious unincorporated charlty were transferred to th15 on l April 2008. The re8iStered Company number 15 6W318. The Dlrectors olthe company are a150 charlty tn￿tee5 forthe purpose of charity law and. under the companvs Artlde5 of AswclaJon. are known as Members of the Board of Trurtees. The company was fomied undèr a Memorandum of Association whlch established the obj'ects and power5 of the ¢harttable company and 15 8ovemed under 115 Articles of As50ciativn. There are currently 12 members113 In 20191201. eath of whom a8rees to contrlbute £10 In the event of the charity wlnding up. The Trustees have been recruited from across Wiltshire. They have a varietyof backgrounds and expertlse and are responsible for givin8 Strategic leadershlp to the charity, overseein8 the work of the tharity. and ensuring that the charity is property resourc£d to carry out Its aCti￿tte$. By contrast the Work of the Joint CThief Execut5ves is to take responsrbility for operational maiters. hlring staff operatlonal plannln& managlng staff ensuring that bud8ets and accounts are prepared for the Board's approval. 22 The Community Foundation for Wiltshlre & Swindon Report and Financial Statements for the year ended 31 March 2021 Structure• governance and management- contlnued The activities of the tharity are overseen by the main board of the tharity. which mÈÈts quarterly. Many of the Boards, funthons are dele8ated to one of live subcommlttee5: the Developmenl commlttee, the Pro8ramme Delivery ¢ommlttee, the Audlt. Finance and Risk commitlee, the Co-investment committee. and the Or8ani5ational Effecifveness committee. The Programme Delivery committee is responsib￿ for overseeing the work carried out by the granys panels, whl¢h meet as required to make 8rant makin8 decislons on behalf of the Board. The commlttees along wkh the maln Board of the charity are rew0nsI￿e for dellverlng the five-year 5trate8lc objecuves of the Foundaiion. These objective5 have been dlvided into five strategic work5treams, and drfferent ￿MmIttee5 have responsibility for their own specific parts of the strategic plan. The rnonltorSng of rlsk, Quallty Ac(redMafjon Standards and the dellvery of the Annual Buslness Plan are key tasks, and Trustees. strateglc perspecttve. overslghi, expertlse, and Inpui are key features of commlttee worl All trustees slt on one or more of the commlttees. Member5 of staff who whose work Is overseen by the comffllttees are welcome to attend ¢omrnittees and to contribute to the discussion of busir)e5s but have no 740tin8 T￿ts. Similarfy. members of the senlor management teorn attend Board meetlngs but have no ¥otSng rlghts. The trustees Consider the board of trustees and the Senior mana8ement team as ¢omprising the key management personnel of thè charity in thar￿ of dire¢lln8 and controllin8 the tharity and runnin8 and operats'ng the charity on a day to day basls. All trustees 8ive their ttme freety and trustee remuneratson was pald in perlod. Detalls of trustee expense5 and related party transactlons are disclosed bn the accoun Trustees are required to dis¢105e all relevant interests and re8iSter them with the Jolnt Chlef Executfves and. In accordance wlth the charltvs pollcy. wlthdraw from decisions where a Confllct of Inierest arlses. The pay of ihe senlor mana8ement team Is Tevlewed annually. The remuneraoon Is bwKh-marked wlth slmllar orBan15atlons In both 51ze and a(￿ty to ensure that It ts falr and not out Df Ilne wlth that generally pald fr*r slmllar roles. The Foundatfon has a formal process for recrultlng and Inductlng trustees. Potendal trustees are asked to spend ttme volunteerln8 wlth the Foundadon before applylnB. Appointmer￿ are madÈ taking into conslderation the annual board 5kllts audit and the strategic aims of the Foundation. This ensures a balance of experience. skllls. loul repregentatlon, and 8eo8raphical covera8e. Trustee5 are appolnted for three years wtth the opportunlty to be rtrappolnted for a frjrther two term& The chalr and vl¢e chalr are elected annually by the trustees at the Annual General Meetlng. Trustees under80 a formal induction includin8 a briefin8 by Ihejoint a)ief Exe¢utSves and a discussion with the chalr of trustees io brief them on thelr le8al obligations under tharity and company law, In¢ludin8 the Charlty Commlsslon guldance on publlc benefit, and to inform them of the contenl of the Memorandum and Artides of As￿l3110n, the ¢ommlttee and declsion- makin8 proces5e5. the strategic plan and recent financial perfonnance of the charity. Trustee5 are expected to take part In tralnlng both as a full trustee body at away days and as part of thetr ￿SPOnSIbl11ties as member5 of sub-comrnlttees. A trustee trainin8 plan 15 in place with Èach trustee bel￿ expected to spend one day peryear at the Foundation looking at different areas of work in depth. Trustees can choose to inve5ti8ate areas covewin8 grant makin8, donor development, tinancial training and carrying oul Spot ¢he¢ks on finance syste￿. being slx)wn how we hold Informa￿Dn, revlewln8 HR prO￿dureS and policies and how ihe team operates. In additson, trvstees can attend a range of events Indurfi￿ a regional meeting with the 5vrferh Community Foundations in the South-west whefe trainln8 i5 offered. Vld•r N•+.work Mthmbe*shlp We are a member of UK Q>mmunity Foundations IUKCFI. 23 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Structure* governance and management- continued... The role of UKCF includes representing and raising the profile of community foUnda￿onS across the UK- the negotiation arbd management of UK-wlde grant pro8rammes,' prOW￿On of tethnical a￿stance,. and the provlslon of a range of member services including a national conference, formal and informal trainin& and enabllng sharing and leamlng across the network. UKCF underpins ihe work of the Community Foundation movement, we are proud to be a fflember. itition A further benefit of being a member of UKCF is the expectation that all cornmunity foundations malntsln thelr quality accredited status whlth Is re-accredlted every three years. We were successful In reachln8 the e¥actin8 Standards followlng our submls51on and Intervlews Aprll 2021. Reference and administrative details R•Élstw•d Company Nam•: The Communlty FOun(latI￿ for VIIWilre & Swindon Tradln8 14ame: shlre C¢mmunlty FOUnda￿On R0￿rter•d Company Number. 6S04318 A￿lstered Offlc•." Sandclrff House, 21 Northgatestreet. Devlie5. WlltsNre. SNIO IJT Tel.. 01380 729284 Ernall.. Inf Re8htered Ch*rlty Number: 1123126 Ufik￿ Ch4fftles: 1123126-1 WlllSam (Doc) Couch Trust 112312fv2 Alfred Emest Wrth￿s Trust Fund 112312f*3 The Shuker Edu¢atlonal Fund B•nk•rs: HSBC plc. 45 Mar*et Pla￿. Devlzes. Wlltshlre. SNIO IHZ Audltors: MHA Monahan¥ Fortescue House. Court Street Trowbrldge. Wlltshlre, BA14 8FA Leyl Advlsors.. Royds Wfthy Kln& l Northumberfand Bulldln& Queens Square, Bath. BAI 2JE Fund Manase Smith & Y¢illiamson Investment Management LLP, Portwall Place. Portwall Lane, Bri#ol, BSI 614A cc￿ Senator House. 85 Queen Victoria Street, Lond¢)n, EC4V 4 aulfter the¥lot Investment Mana8ement. Senator House, 85 Queen Victoria Street, London. EC4V 4AB 24 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Trustees and key management personnel The directors of the chafitable company (the tharltyl are Its trustees for the purpose5 of charlty law. The trustees and Offi￿r5 servlng durlng the year and since the year end were a5 follows: Chair Vlce Chalr Ashley Truluck C6 CBE Angus Macpherson Board members Junab All lappolnted August 20201 Mark Barnett lappointed October 2021) Lisa Lewls Oliver Jones-Davies Samantha O'sullivan Andy Tait lan Thomas Steve Wall Sue Webber Davld Wrav Retlrements Ellzabelh Neville {retired September 20201 James Phlpps {￿tI￿d March 20211 Jason Dalley (retl￿d Ortober 20211 Patrons Johft Bush Crfo OBE CSU JP Sarah Trou8hton CSU. Lord Lleutenant of Wiltshire The Rt Revd Dr Lee Rayfield Retlrements The Rt Revd Nicholas Holtam {retired Juty 2021) Senlor Management Team: Jolnt Chlef Executives F￿na OINer & WKky Hlckey Dlrector Of Phllanthropy Jo Brady Dlrertor Of Programme Dellvery Jane Butle Dirertor of Research & EnEagernent Margaret Firth These appointments WEreln4iallyrnadeon an Inierfm March 2O20and(orrfkn￿In kptefflber2020 'ThL4apwinlmert Wasinitknly m*Jt hrteth bast5th Marth 2020aTrd confimiedkn se9t￿the￿ 2020 Thi5 apWin￿eN *7s made aiob iiUeofRe5earth and Ewment Mana8erlnCkxober2020. then Pr￿}￿xed￿ Dtrettorof Researth ènd Ew8emeirt blAw￿l021. 25 **The Community Foundation for Wiltshire & Swindon** **Report and Financial Statements for the year ended 31 March 2021** ## **Statement of trustees’ responsibility** The trustees (who are also directors of The Community Foundation for Wiltshire & Swindon 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. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards 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 is inappropriate to presume that the charitable company 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; and 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. 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. ## **Auditors** A resolution proposing that MHA Monahans be re-appointed as auditors of the charity will be put to the Annual General Meeting. **Jason Dalley (Chair of Audit, Finance & Risk committee)** **Ashley Truluck (Chair of Trustees)** **Date of approval: 19 October 2021** 26 **The Community Foundation for Wiltshire & Swindon** **Report and Financial Statements for the year ended 31 March 2021** ## **Independent Auditor’s Report** ## **Opinion** We have audited the financial statements of The Community Foundation for Wiltshire & Swindon (the ‘charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). ## In our opinion the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 31 March 2021, and of its 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; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the trustees’ report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the 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 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. 27 **The Community Foundation for Wiltshire & Swindon** **Report and Financial Statements for the year ended 31 March 2021** ## **Independent Auditor’s Report** ## **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' report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the directors’ report has been prepared in accordance with applicable legal requirements. In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit **;** or - the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. ## **Responsibilities of trustees** As explained more fully in the statement of trustees’ responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed on the following page. Based on our understanding of the charitable company and industry, we identified that the principal risks of noncompliance with laws and regulations related to compliance with employment law and charities and company legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements of the company. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommend Practice 2019 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 28 **The Community Foundation for Wiltshire & Swindon** **Report and Financial Statements for the year ended 31 March 2021** ## **Independent Auditor’s Report** We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the audit engagement team included: - Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; - Understanding of management’s internal controls designed to prevent and detect irregularities, and fraud; - Reviewing the minutes of Board of Trustees meetings; - Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing of expenses; - Performing analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud; - Reviewing of the financial statements disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above; - Testing transactions entered into outside of the normal course of the charitable company’s business; and - Identifying and testing journal entries, in particular any journal entries with fraud characteristics such as journals with round numbers. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. ## **Use of our report** This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. James Gare For and on behalf of MHA Monahans Statutory Auditor Chartered Accountants Fortescue House Court Street Trowbridge Wiltshire BA14 8FA Date: 27 October 2021 29 **The Community Foundation for Wiltshire & Swindon** **Report and Financial Statements for the year ended 31 March 2021** ## **Statement of Financial Activities—including Income and Expenditure Account** |**Notes**
**Income & endowments**
**from:**
Donatons and legacies
2
Other trading actvites
3
Investments
4
**TOTAL**
**Expenditure on:**
**Raising funds**
7/8
**Charitable actvites**
7/8
**Charitable support costs**
7/8
Gains
/
(losses)
on
revaluaton
of
fxed
assets
14
**Net income /**
**(expenditure)**
**Transfers between funds**
22
**Net movement in funds**
**Reconciliaton of funds:**
**Total**
**funds**
**brought**
**forward**
**Total**
**funds**
**carried**
**forward**
19/20/21|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total Funds**
**2021**
**Total Funds**
**2020**
**£**
**£**
**£**
**£**
**£**
174,665
1,576,738
523,522
2,274,925
1,024,753
29,319
-
-
29,319
24,003
396,178
232,442
-
628,620
737,772| |---|---| ||600,162
1,809,180
523,522
2,932,864
1,786,528| ||50,545
-
85,183
135,728
171,037
304,450
2,067,419
-
2,371,869
1,482,029


253,095
-
-
253,095
207,458| ||608,090
2,067,419
85,183
2,760,692
1,860,524| ||-
-
5,172,434
5,172,434
(1,557,256)| ||(7,928)
(258,239)
5,610,773
5,344,606
(1,631,252)
18,847
368,920
(387,767)
-
-| ||10,919
110,681
5,223,006
5,344,606
(1,631,252)
52,499
303,109
22,648,260
23,003,868
24,635,120| ||
63,418
413,790
27,871,266
28,348,474
23,003,868| The Statement of Financial Activities includes all gains & losses in the year. All income and endowments and expenditure derive from continuing activities. The notes on pages 33 to 61 form part of these financial statements. 30 **The Community Foundation for Wiltshire & Swindon** ## **Report and Financial Statements for the year ended 31 March 2021** ## **Balance Sheet** |**Notes**
**FIXED ASSETS:**
Tangible assets
12
Investment propertes
13
Investments
14
**Total Fixed Assets**
**CURRENT ASSETS:**

Debtors
15
Cash at bank and in hand
16
**Total Current Assets**
**LIABILITIES:**

Creditors: Amounts falling due within one year
17
**Net Current Assets**
**Total Assets Less Current Liabilites**
Creditors: Amounts falling due afer more than one year
18
**TOTAL NET ASSETS**
**THE FUNDS OF THE CHARITY:**

Endowment funds
19
Restricted income funds
20
Unrestricted funds
21
**TOTAL CHARITY FUNDS**|**2021**
**£**
6,194
-
27,916,023
27,922,217


589,471
637,424
1,226,895


(608,005)
618,890

28,541,107

(192,633)

28,348,474


27,871,266
413,790
63,418

28,348,474|
**2020**

**£**

9,235

-

23,471,157| |---|---|---| |||
23,480,392

97,556

279,746| |||
377,302

(588,165)| |||
(210,863)

23,269,529

(265,661)
| |||
23,003,868| |||
22,648,260

303,109

52,499
| |||
23,003,868| These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The financial statements were approved by the Board Of Trustees on 19 October 2021 and were signed on its behalf by: ASHLEY TRULUCK: JASON DALLEY: The notes on pages 33 to 61 form part of these financial statements 31 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Statement of cash flows Notes 2021 2020 NET CASH {ABSOR8ED BY)/ GENERATED BY (￿RATING ACTMTIES Isee below) 1367,657) 90,765 CASHFLOWS FROM INVESTING AcnvrriES Purchase of tangible fixed assets Net additSons to Investments Proceeds from sale of Inve5trnents Proceeds from Sale of investment propertles Eqvlllsatlon Galn Net Ilncreasell decrease In cash holdln8s by investment mana8ers {2,2331 (4.082.155) 5,069,941 14 14 13 14 14 16,503,069) 5,299,426 290.IJJO 5.697 936,688 705 (260.9231 NET CASH GENERATED FROM INVESTING ACTMTIES 725,335 28,742 CHANGE IN CASH AND CASH EQUIVALENTS IN THE REPORTIIIG PERIOD 16 357,678 119.507 CASH AND CASH EQUNALep¥rs AT THE BEGINNING OF THE REPORTING PERIOD 16 279.746 160.239 CASH AND CASH EauivALENTS AT THE END OF ThE REPORT114G PERIOD 16 637.424 279,746 RECONCILIATION OF 14ET INCOME I IEXPENDITURE) TO NET CASH FLOW FROM OPEIIATING AcrivmE5 Net Income / lexpenditurel for the reporknng period as per the statement of financial activltles 5,344.606 {1,631,252} Adjustments for. Depreciation chaf8es IGainsllLosses on investments Ilncreasel/decrease In debtors (Decreaselfincrease in creditors 5,274 15,172,434) 1491,9151 153.1881 6,068 1.557,256 78,750 79,943 NEf CASH (ABSORBED)I GENERATED BY OPERATING AcfMllES 1367.657) 90,765 ANALYSIS OF CASH AND CASH EQUIVALENTS Cash In hand Totsl cash and ¢ash •qui¥alents 637,424 637,424 279,746 279.746 ANALYSIS OF CHANGES IN NEf DEBT The charlty held no debt at the year end date and net funds are represented by cash and cash equr¥alents hekl. 32 The Community Foundation for Wiltshire & Swindon Report and Flnanclal Statements for the year ended 31 March 2021 Notes to the Financial Ststements l. Accountlng policies The Signifi￿nt accounting polKi85 applied in the prepaTatm ofthese fin￿Cla $tatem8nts are set out below. These pollaes have been consistently applied to all ythrs presented unless otherwlse stated. 1.1 Basls of preparallon The CommunKy Foundallon for Wiltshire & gmndon ts ￿ in(XwW￿ chwity registered in the United KiNJdom.11 is company Ilmiled by guarantee and trustees are the members of the Company. Thère are currentiy 12 rrthitrérs {13 in 2020), each of whom agrees to contribute £10 in the event of the charity wtnding up. The address of the reglslered office is given in the charity infom7at￿ ¢)n page 24 of these financial statements. The nature of the charlty's operatlon8 and prlncipal activit￿ are detailed in th8 Report of the Trustees. The Charity conslrtutas a pubiic b8nefrt entity 8s defined by FRS 102. TIN? financial statements have been prepared In xcordance wth Acuunting and R8porting by Charities. St8t8menl of RecoMff￿d0d Praclir* (published October 2019) appllcable to charits'es preparirvJ their Ku)unts in accordance with the Financial ReportJ"ng Standard applicable In the UK arKI Republ￿ of Ireland IFRS 102), the Charibes Act 2011. the CThnpanies Act 2006 and UK Generally Accepted Prac1￿. The financial st8lements aro prepared on a wing concem basls under the hlBtorical c08t convenbon, modif￿d to nclude certain items at fair value. 1.2 Fund ac¢ountlng Unrestrtcted funds are available for use at the d*cretion of the trustees in fvrthwance of the general objectives of the ¢harfty. Deslgnated funds are amounts set asKle by the tru81ees for specthc purposes. Restricted fund8 are subject to re8tdctions on thelr expendllure ImF¢sed by the donor or through the lem)s of a granL The charity has two elements to ts erknenl fund. It has an exF*ndable 0ndo￿ant furrfl a p8manent endowment lund. The capital of the expendthe endovfflient fund is unrestricted and is available for use at the dlwellon of the trustees in furtherance of the general objecb'ves of the charity. However. the income generated on th8 ¢apital may be restricted or unrestrthd. This fund is xcumulated to provide a reguLar source of income to l￿d the Communlty Foundatlon'8 grant programmes. We have one permanent endo*Thent fund, which requires the tntstéos to invest the cawtsl in ￿rp8tuty. The Intemal management o)sts of the investsnents hehj as part of the pernmnent endtrmnent fund are applled to the Income received before grants are made. Addbtional delails on fvnds are included in notes to the ac£ounts. 1.3 Income recognltlon All incoming resources affj indu¢Jed In the Statement of Flnanaal Ad1Vit￿ (SOFA) when the charity is legally entttkd to the income after any perfomiance wndrtwis have been meL the amount ¢an be rneasu￿d reliably, and il is probable thal the income will be received. For donations to be recognlsed the charity TMII have been notifiod of tho amounts and the setuement d*e In Nwtting. If there are cofyjitions attached to the donation and this requires a level of performance before entitl8mgnt can b8 obtained, then income is deferred unts'l those conditions are fully met or the fulfilmenl of those condibons is within the control of the charity, and it is probable thal they will be fuifdkd. 33 The Community Foundation for Wiltshire & SwAndon Report and Financial Statements for the year ended 31 Marth 2021 Notes to the Financial Statements 1.3 Income recognition (continued) Donated faalities and donated professlonal ser¥hxs are rwnised In inc(mR at treir falr value whon thelr ￿onoM benefft is wobable, rt can be measured reliabty. and Ihe charity has control over thè item. Fair value is determined on the basis of the value of the gmi to the charity. For example. the amount the charity W￿k1 be willing to pay in the OFén market for suth facilities and services. A corresponding amount ts Twnlsed in expenditure. No amount is inciuded in the financi818tatements for ¥oluntear tlme in line wth the SORP {FRS 102). Further detal is given in the Trustees. ReporL Where pra¢tuble. gifts in kind donated for distribution to th8 ben￿larIeS of the charty are Included In 6tIKk and donations in tho finan¢lal statements upon receipt If it is impractscabkry to assess the faw value at receipt or if the costs to undertake such a valuation OLth¥eyh any t￿erts. then the fair value is recx)gni6ed as a compon8nl af donations when it is distr'buted, and an equivaknnt amount rwnBed as Charitabb expenditure. For loga0￿, entitlement tho earlier of tho ¢harity being n￿fied of an impending distn'bub'on or ts legacy belng received. At this point income i8 recc*Jn*ed. On o¢¢asA)n loga¢w will be nots'fied to the charity howevor it is not possible io measure the amount expected io be distn'buted. On Ihese c￿￿10￿8. the189acy18 treotgd as a conts'ngent assot and disclosed. Income from olhor tradlng 8¢tivities Indudes income earned from lundraising events and tradlng aclmles to rais8 funds for the charity. Income is received in exchange for supplying SeN￿e8 in order to raise funds and VJ r8cogni8ed when entrtlement has 0￿urred. Income from grants is recognised wh4Jn the Communty Fn in the deliv￿ of ils activit￿ and seNces for ils b8nefKiafies. including govemaThx costs. It Ind￿leS both costs that can be alkThled directly to such actfvities and those of iFyJirect nature Mcossary tr) supwt thém. Govemance costs include those LY)sts associated wilh meeting Ihe 0￿￿titUtIonal and Statutory r¢quirgments of the Communty Foundation and include audit fees and costs linked lo th8 Strateg￿ management of the Community Foundats'on. All costs aro allcrated belween the experKlilure categoth of the Stslement of Finandal ActNths on a ba$18 d8signed to refflect the use of the resource. Costs relating to a parti￿lar actNty are allcK*8d dlrectty; other8 are apportioned on an appropriate basis. SalarEs are allocated by reviewing b'me SFenl by eath empk)yee on Ihe activities and attributing ¢o$t accordingty. Other costs are alkcated on a percentage basis as follows (calculated by looklng at total staff time acnjss thqch category). The method of allocation ol costs has been changed during the year and note 7 details the eff￿1 of th6s0 change8 and sets OLrt the change5 m•J8 to tho 2020 compar8tiv8s. 1.5 Fundralslng and Phllanthropy development costs Fundraislng costs are those incurred in seekirwJ voluntary conthbution8 and do not ndude tho costs of disseminating infomation in support of the charrtable acti¥rtJes. Philanthropy develo￿ent costs include the costs of informirvj and Jvlslng donors lo Ic¢al needs and effective methods of donation lo develop an infomied donor communty, 'connecting people Care wlh causes that matter., 1.6Grants payable Grants payable aro payn)ents made to third parlw In tho fvrth0rar￿Q of the chartsbFe objects of the CoMm￿lty Foundation. In the case of an unconditional grant offer Ihls ts accrued once the reciplent has been notlfied of the grant award. The notificatK)n gives the reuiment a reasonab￿ expectatbn that they will receive the one-year or mulll- year grant. Grants awards that are subject to the r￿1p￿￿￿t fvffilling F￿rManCe conditk)n$ are only arxrued when the reclplent h86 been notrf￿ of the grant and any remaining unfuffilled C￿nditIon attaching lo Ihat grant is outside of the control of the Communty FOundat￿n. Although some grants are payabb over a of up to five years, only 5.5% 01 the total grants ￿dItOr will be paid in moTe than two years and the charity tt)erefore mak88 no adiustrnenl for the effect of Inflats'on tetsveen the year4ThJ date and the date of payment. 1.7 Grant returns Every year a sm811 proportlon ol the grants awarded are retumed. Details ofthe grants relumed. together wrth the reason5 for the return are detailed in note 6. Because the amounts ￿turned and reaxins for retum differ from year to year. no provision is made for grant returns aThJ any arnunt relumed Is recognlsed In the year of retum. Noles of amounts foturned and reasons for grant returns are Ind￿ in note 6 to these acuunts. 1.8 Operating leases The charity classlfies the lease ol Olf￿ and a franking machine as oper8tirKJ leases., the title to the ￿lIdIng and equipment ￿MaInS wlth the lessor. Rental charges are charged on a straigh14ine basks over the te￿ of the least. 1.9 Flxed assets and depreclatlon Fixed a￿ts with a value in excess of £5rx) are initially teo)rded at cost vthere knovm. or at a reasonable approxiMat￿n thereof rf don8ted in kirNJ. Dew'alion on computer and off￿? equipm8nt is charged using the straight-line method over four years. The th￿hold for caprtalisation of Fixed Assets was increased from £150 to £500 with effeci from 1" April 2017. 35 The Communlty Foundation for Wlltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Flnanclal Statements 1.10 Investment properties The tsvo investment prowties O￿T￿d by the Community Founda1￿)￿ wore in 2020. 1.11 Investmenls Investments a￿ recognised initially al fair value is nomialty tr￿ transacticffl price excludlng Iran98cbon costs. Subsequently. they are measured at fair value wrth chaThJè$ recognk80d in 'Gains I (losses) on revaluatr'on of fixed assets, in the SOFA rf the shares are publ￿lY tr&Jed or their fair value can other*w te m&asured reliably. 1.12 Cash and cash equfvalents Cash and cash equiv81ents indude cash. bank deposit and current aC(x￿nts and the cash held withing Ihe Fl&Jstone cash investment F￿[0110 as detaI￿d in note 16 to these accounts. All of the fuThJs have matunty dat85 in ths than a year. 1.13 Debtrys and Credltors recelvable I payable wlthln one year Debtors arKI creditots wlth no stated Interest rate relxlvable or payabl8 wlthin one y8¥ are recorded at tran88ctbn prfce. 1.14 Flnandal Instruments The charfty has onty finandal a88¢ts and finandal liabllrti88 of a kind that qualrfy as bas￿ financlal instrumonts. Baslc financk21 instruments indude trad8 d8blors and other deblors as detsiled in r￿te 15, cash as delalled in noto 16 and trade creditors and accntals as detailed in notes 17 and 18. Prepayinents arè not finan¢i81 instrumgnt8. Basic financi81 inslrumonts arn inrbally recognised at tranwtion value and subsequenuy measured at thoir settlement valuo wrth the exception of inveslments whlth are measured at falr value. 1.15 Pensions The Communlty Foundatlon contdbutes lo defined contr1t￿ttIn scthmes In wfilch employees are members. The 868ets of these schemes are held separately from those of the Community FourKlatK*n in independently administered funds. The penslon cttarge In the Stslemenl of Flnawal ActrIlti￿ in respect of these schemes represents t amount payable by the Communty Foundation to these furKls in rn5pect of the yoar. Any unpald contribullons are Induded In Credit￿$. 1.16 Tax Th8 charity is an exempt charity wthin the meaning of schedule 3 of the Charitw Act 2011 and is considered to pass th& tests set out in Parograph 1 Sc￿Ule 6 Finance Aci 2010 and therefore it meets the definit￿n of a charitabl8 company for UK corporation Lix purposes. 1.17 Golng concern The financial statements have been prepared on a going cornn basis as tho trustees telieve that no material uncertainlies exist. The trustees have consKlered the tevel of funds held and the exFected level of income and expendbture for 12 months from authorising these financial slatements. The Weted wicomo and expenditure $uffi¢lent with the bvel of ￿$¥YeS for the charty to be able to continue as 8 going o)ncem. The trustees have taken into ¢on$Kl8fation tho wnpad of the &)rorovwu$ pandèmic fft rexhing their CA)ncJusion that the charity rgrn8in$ a going coneem. 36 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Flnancial Statements 2. INCOME FROM DONATIONS & LEGACIES Unr••tricted Il•Jtricted Endowm•Dt funds funds funds Total 2021 Total 2020 Donallons and Gifts Legacies Donat￿nS in kind 158.165 14.100 2,400 174,665 1.576.738 67,622 455,9CKI 1,802,525 470,OCKI 2.400 523,522 2,274,925 990,558 10,000 24,195 1.024,753 1,576,738 Tha Coronawrus p￿deMiC signlfKan￿Y aff￿led Ix)th the income arKI expenses pr05ented in this years accounts. Incom& from donab'ons and gifts increased from £990.558 in 2019f20 to £1,802,525 in 2020r21, an 87.7% inuea$o over the kyevious year. In 2020121, Ihe charty was notlfied that a substantial ¥ras payabk to the Fourbdatlon. This legacy was 8 r￿Ul1 of a bequest lo a charitable Irusl whrh r*ow fomis part of the Unrestr￿ expendable endowment of the charity. This legacy meets the SORP criteria for re￿nItA)n in these ￿0￿nts and the amount of £455.900 wll be added to the endowment fund ￿￿en received. The omunt prOV￿ad is based on the Current best estimale avallable from the solicitors dealing with probate of the estate. A payment of £40,￿0 was received as a first instalment on account In May 2021 and a further £250.000 was re￿IVed in Juty 2021 folbxiing the sale of tsvo properti88. The baknce of the legacy is anticipated when the final propety compris&J within the estate is sold, however th8re may bo a delay in the receipt of th08• fvnds 88 the estate needs to carry (xrt M)rk on tho property b8fore rt can be 8okl. Unrn8trlcl•d R••trlctod Endowrnent lund• fund• fund• Tol•l 2021 Total 2020 3. INCOME FROM OThER TRADING Sponsorshlp Events Outsourced Income 24,003 28,319 29,319 28,319 29,319 24,003 Given the Coronavirus re8triclK)ns it was not Fosslble lo organise any events in 2020r21 and therefore no income was receNed under this category in the year. In March 2020, ts former Chlet Executive of the Foundation was seconded lo UK Community Foundation8 pfK)r to taking up a full Ilme apFointmenl wlh that Charity in Juty 2020. As a resull of the secondment the fomer Chief ExecutNe remained on the Foundauon payroll and UK Communty Foundations cove￿d the cost of ￿muneration - shown under Outsourced irtome above. 4. INCOME FROM INVESTMENTS Unr••trl¢t¢d R•strlcted Ermlowment funds funds fund• Total 2021 Total 2020 Dividend income Investment interest Prop&rty rgntsl income 390.626 5,552 232.442 623,Ci38 5,552 728,134 7,688 1.950 737,772 396.178 232,442 628.620 The income from investments is generated frcrfn three separate investment portfolios. Dividend income received from the portlolio was ￿duced in 2020f21, as a result of a numter ofthe compan￿$ within the portfolhj's reducing or cutting their divKierbJs as they had lo wrth the dowrthm ¢2used by the pandemr. Folbwing dtsposal of tt)e final Iwo properties comprised within the Shuker Permanent Endofftnl in 2019r20, no pfopety rentsl income was received in 2020121. 37 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements 5. GRAwfs PAYABLE IN FURThERANCE OF CHARrrrs Totsl grant makiry costs during the year can b8 W't as fdto*&' 2021 2020 Dlroct costs of grdnt maklng Total Grar)ts awarded in year Less: Grants awarded out of county - Irwill Oxft)nlshYe (S grants} Grants awarded through 811 grant programmes in co Grants reluffled I not continued during year Release of grant creditor ft)r Stronger Famil*s prryrnnN Grants made in county nel of returns 8upport co•ts lor grnnt maklng (not•• 718> 2,164,871 {20,1X￿) 2.144.871 162,645) 1,278,527 1,278,527 152,6351 2 082 226 115 377 2 197 603 1176 780 132 995 1324 668 Grants avArd•d In Wlltshlr• (Indudlty Sw1nd(￿> 521 Grants were aW￿ded during the year {2019f20 546 grwts> The8e can be 8pIIt as follm". 2021 2020 Grnnts to groupB 2020121 . 374 grants to 246 drflerent (Yganis8tK)ns 2019120 - 155 grants to 116 dffierent wdanisatlons 1,782,819 893,809 Grants to Indlvldual• 2020r21- 147 grants including 16 Sur¥Mng Winter Grants 2019120 - 391 grants including 266 Surviving Winter Grants 362,052 2,144,871 1,278,527 2020r21 was a year unllke any other In the Foundallon's hlslory. We replaced our prevKJus Foundats'on grants Programme Y￿th our c(￿naviN5 Response and Recovery grants. GfOUPS could rocaive larger grants than our usual maximum and could receive multiF4e grants as theor needs devek>F*d. This resutsd in our grants to groups almost doubling In 2020￿1, wth the number of cyganlsatlons supported more than doubling. We changed our appro&h to our Survivlng Winter pro9ramm8 and avrdrded 6 Lqrge grants to our partr￿S Age UK Imtshire. the Centre for Sustainable Energy, Citizens AdvKe &wndon and Citizens AdvKe Wimshire, enabling them lo provide advu and supwrt to in¢JNiduals fa¢ing luel poverty, irKluding grants to pay for fuel, delrvery of hot mea15, advice on energy use and support lo claim benefits. Wrth thk8 ¢*ange the SurvNing Winter programme increased the number of paople helped lo 1.221 indiv*Juals from 737 households. We wll bo ¢onts'nuing thi5 model n 2021122. Grant8 awarded to group8 and Indlvlduals wlthln Mll8hlrn Ilncludlng Swlndon) durlng th• yur by Imp#et cat•gory Averago £ per grnnt No ol Grnnts Advancement of people's physKal and mental heallh, T**llbwng and safely Promoting the reduct￿ of isolalion arKI disadvanlage access to local services Improving lffe skil￿, educalion. employabillty and enterprise Maximising the atHlty to strengthen communty cohesK>n and build social capaaty Transfomiing acces5 to. and engagement with, the environment and public spaces Connecting peoplé with tho arts, c￿lture arKI hortsgo 833.891 171 4.877 554,544 135 4,108 3,293 559,887 101.648 170 21 4,840 47.915 12 3.993 47.006 2,144,871 12 521 3.917 4,117 38 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements 5. GRANTS PAYABLE IN FURTHERANCE OF CHARItrS OBJECrnIES (tontlnuedl Grants award￿ wlthln ￿tt¥hIve totalllng > £12.C#)O p•r group duflng the yoar Includo tho lollowlng.. Able Hands Togelher Age UK Wiltshire Alabare Christian Care and Supp(xt Arts Together Back on Tr&*- Stroke Rehab ServKe Carer Supp)rt Wiltshire cont￿ for Sustainable Energy Chlseldon Prlmary and Nursery Schoor Cruse Bereavement Care DASH Dorothy House Hosplce God Unlimrted Outdcor Therapy IPSUM Larkrise Communty Fam Love Devlze8 MHA- Live at Home Swindon Safer and Supportive Salisbury Sl. Paul's Church Swindon 10 - 18 Project {STEP) s￿ndOn Advocacy Movemént SNvindon Children's Scraps S￿nd0Th Night Sheller Swlndon Women's Aid Thamesdown Hydrotherapy Pool As8(Klalon The Kennet and Avon Canal Trust The Nebon Trust Th8 Opon Door Centre Th8 Platfomi Proixt Trlnity Chippenham Trowbridge Future We Hear You (WHY) We8S8x Community ACt￿n Willows Counselling Serv Wilbhire Cibzens AdvKe Willshlre Creative Wiltshire Portage Wiltshire Racial Equalty Councjl Wiltshire Youth for Christ Wroughton and Wichelstowe Pwochial Church Council Young Melksham Youth Adventure Trust OtherGranls < £12,000 No of Grnnt* 22,135 60,881 15,500 14,968 15.020 17.172 75.291 25.908 20.170 20.829 15.000 14.750 41.000 15.000 20,000 13,977 13,771 15,866 18,093 13,878 13,140 20,OC(I 18,215 15,OCil 15,000 37,874 16.112 25,1 20,OCIl 17,103 15,OCIl 12,740 14,250 45.325 16.424 17,972 19,176 14.656 20,0(M) 33,112 21,253 886,175 1.782.819 267 347 A Ilst detalling all of the grants whKh make up the above total can be obtained by Contxting the Communty Foundadon office. 39 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Flnanclal Statements 6. GRANT RECONCILIATION SHOWING PAYMENTS, RETURNS AND ACCRUALS 2021 Grant 8ccruals as at 1 April 2020 Payable within one year payab￿ after more than one year but Y•ithin less than fN8 years 546,216 285,661 Total accrued as at I WI 2020 Add.. Gr8nls awarded in year Les8'. Grants pald In year 811,877 2,164,871 (2,194,398} L•••: Gr•nts r•tum•d l unallo¢•l•d kn y••r Groups not being able to deliver servico du• to Covid19 Group not spendlng full grant awarded Groups unable to fully utiltse grants duo to CO¥￿ 19 GTan15 unallocated du8 lo chawe In grant requirement Bur88ry students deciding not lo conth'nue with studies Bursery student changing from 4 year tt) 3 year programme Bursary student deciding to defer their t<￿￿• 17,0001 15.5301 {14,3001 {14,6401 114,8751 11,5001 4.800 62,645 719,705 Grnnts awarded wlth p•ym•rt d•t•s •ft•r 31 Marth 2021 Dfvlded Bets¥een'. Amounts payable wlthln one year Amounts payable after ono yoar within year5 At 31 March 2021 527,072 1W2,633 719 705 Prfor y•ar comparf•on 2020 Grant aceruals as at 1 April 2019 Due wthin one year Due after rnore than one year but lass ttkin five yews 403,745 320.S19 Totsl accrued as at 1 April 2019 Add.. Grants awarded In year Less.. Grants paid in year 724,264 1.278,527 (1,089,168) L•M: Grnnts retum•d l unalloc•t•d in y•ar Grants paid and subsequently retumed due to closure of gr(yJp Grants for future year payments unalktaled due to dosure of gr￿P Grants pald and subsequenty retumed due to group not requiring Ihe g￿l Group no longer requiring grant Bursary students not continuing ￿ sludie8 Bursary students deciding to defer before starting theii studies (8,7141 14,8301 (49.1121 18.6821 16,4081 24.IX)O {101.746 811,877 Grants aw¥ded wllh paym•rt dates after 31 M•rth IOXI ONided Be￿n.. Amounts payable wthin cfie year Amounts payable after one year but within fve years At 31 March 2020 546,216 265,661 811,877 The Community Foundation for Wiltshire & Swindon Report and Financlal Statements for the year ended 31 March 2021 Notes to the Financial Statements 7. EXPENDITURE SPLIT BY SOFA CATEGORIES OF EXPENDITURE The Charity has changed the way in vthich Costs are apportK)ned in 2020r21. and as a re￿11 has restated the 2019120 comparatives. Following this note is an explanation of the changes to the methc4Jobgy of alkxating costs and delails of how the 2019120 costs wern restated. Note 8 provid8s ¢Jetails of the may expenditure Categor￿ that make up the total Cosls allocated in this note. ACtIv￿ or PnJgrnmm• Dlr•ct support 2021 2020 (R••t•tsd) Expendliur• on Ral•lng fund• Fundraising Property management costs Investment management costs 50,545 50,$45 80,960 6,774 83,303 85,183 85,183 Exp•ndltur• on Ch•rltabl• aetmu Grants awarded in county (net of returrrJ} Grants awarded oul of county Grant administration Voluntary sector dèv't a Sup[￿ for 81udgnt8 Community b8adership 2,082,228 20,OLKI 115,377 85,899 68,367 2.082,226 20,000 115,377 8S,899 68,367 1,178,780 132,995 62,371 109,883 Exp•ndlturn on Charlt•bl• •upport co•ts Govemanco & strategy Charity operatK>ns Fundraising support ¢08ts Covhj oftke ¢osis Phllanthropy development Total Exp•ndMurn on charltsbl• athlll•• 73.548 47,653 8,869 23,522 73,548 47,653 8,889 23,522 99,503 2,760,692 62,536 33,894 8,043 99,503 2,556,555 102,985 1,860,524 204,137 Expendtture on Ralslng fijnds h85 faI￿n Ihis year as it was rK)t F¥)SSib￿ lo engage in the nomal 18vel of fvndraising during the pandern￿ and the forner Chief ExecutNe, who was heavily involved in fundraising, was seconded to UK Community Foundatlons in March 2020. FollNing the dwsal of the invesbment properties In 2019120, no expendllure arose in 2020121. Expendilure on Charitable actfvitss as a Ytho￿ rose in 2020r21. due to an intrease in the value of grants awarded. A decIS￿)n was made to review the costs of grant4naking to ensure that the accounts correctly recorded the additional support given io the voluntary sector. This resulted in a fall in the costs albcated to grantamaklng in 2020121 and an increase in Costs allcKated to Voluntary sector development & SUPFhYt students., as ¢)ur slmptrfied grant making process requlfed Ihe charity to have more engagement wth applicants to cary out due diligence and to make suré that we offered suppjrt and guidance to the many group5 and ¢)rganisations who required help during the pandemic. The Community leadership workstream costs were lower in 2020r21 because the 2019r20 figure included £38,920 of project related costs, excluding this *￿Uld gNe a comparator of £70.983. Charitable support costs have risen from 2020f21 ￿￿th an increase in Govemance and Strategy ¢osls as a result of the development of the fve year strategy and wth the operabon and involvement of a Lqrger Senior Management Team In decision making. The charity has decKJed not to attribute the costs arising from the oflKe building to indiv￿u31 sectors of the charrty's woik. as the building was unused during the Pand￿￿. with all staff working from hom& and attributing these costs would overstate the tharitabie costs. 41 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements 7. EXPENDrruRE SPUT BY SOFA CATEGORIES OF EXPENDITURE (crtlnued) Change In basls of attrlbutlng costs In wder to present a clearer and more accurate view of the tharrV$ *ivit*s for the year. as noted In the trustees, report the FoundatSon has revlewed the presentstion of its resutts thi8 year. to Klentify clearly of Its expenses are dlrectly charltable costs and wttth shouhj be re¢L)3nised as being r￿PPort cs)sts and has allocated costs on Ihe basis of this new costing structure. 11 now ￿entIfieS the three Char[tal￿e acliwts'85 detailed above as being carried out in direct fulfilment of its charilable mandate. The opportunty has been taken to Klentify Charity operations and Fundraising SUPPOrt costs as new categories of Charitabk? support costs and to transfer the costs of Philanthropy d8velopm&nl and classfy these as an activity wknln Chanlable SUFWrt Costs rather than w￿lUding th88e as expenditure on Raising fvnds. Restaternent of 2019120 costs To en8ur8 th* the r88utt8 shown in these accounts are directy 1x)mparab￿ to Ihe 2019r20 results, 11 ha8 been necessary to restate the 2019r20 results using a 8imiLqr melhc*Jology for alkxating Costs. Thls exercise does not effect th8 Balance SheeL nor adjust tha 2019r20 doficiL it simpty r•presants the realloe4tion of 2019120 costs in a similar manner to that now used in 2020r21. The table bdow o>npar8s the aggregate costs and cost categotss used thi8 year and last year. Pr•vlous tr•atm•nt RNtstsd amount Ch•ng• Exp•ndltur• on R•l•lng lund• Fundraising Donor care 8nd advice Propety managémènt eosts Investment manè8emenl costs 108,547 116.368 6,774 83,303 314,992 {27.5871 {116,3681 6,774 83.303 171,037 (143,955 Charttabl• Grant makln8 Communty leadorshlp Voluntary sector de¢t and support for students 1.324.668 105,959 53,627 1,484,254 1.309.775 109,883 82,371 1,482,029 {14,8931 3,924 8,744 12,225 Charllabl• support C￿1* Govemance & strategy Charity operations FUr￿raising SUPPOrt costs Philanthropy development 61,278 62,536 33,894 8,043 102,985 207,458 1.258 33.894 8.043 102,985 146,180 61.278 Total Exwiditure 1,860.524 1.860,524 The main changes were to recegnise the cost of Philanthropy devewment as a charitable support cost rather than including these costs as part of our fundraksirw costs and to recc4Jnise the costs of operating the charity under the heading of Charitable oFerakns. The costs of sUP￿￿.￿g our grant making have been reviewed and a greater proportion of staff tsme has ￿frn allo¢at¢d to Community leadership and Voluntsry sector devel¢)pm•nl & support for students lo better reojrd other benefrts to the communty as a resutt of ￿Jr eng￿ement Trmth the voluntary sector and the siuden18 we supp(xL 42 The Community Foundation for Wiitshlre & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Flnancial Statements 8. ANALYSIS OF CORE OPERATING cosrs BMVEEN MAJOR TYPES OF EXPENDrruRE 4 ¢ ff> 4 rii * rt> ¢fi 43 The Communlty Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements 8. ANALYSIS OF CORE OPERATING COSTS BEfwEEN MAIOR TYPES OF EXPENDITURE contlnued The Foundatkln measures corn Opera￿n9 cc*ts as detailed on p43. These Costs exdude the costs of investment management and grants wwarded. and represent the dk8cretiorw costs ofoperating the charity. Thé charity has four major sectors within iv8 operatK)ns, Grant m*ing. Voluntary sector devel¢)pment & support for students. Communty kadershlp and Phllanthropy developrr*rt Grant m8king, Voluntary sector devek*pment & supP￿t for students and Communty leadership fall withln the classificab'on of being c(Ets of charitable ath'vrties. Philanthropy development which Is a vttal part of the work ol the Foundation is included in Charitable support costs as the raising of the profile of philanthropy within the county do8s not fft in lis entirety withln the Charities Act doscriptkn of what Is charIlab￿. In 2020121, £369,146 was spent across these four sectors of *rrk12019r20 £408,234). The decrease of £39,088 in expenditure is primarity due lo a decrease in costs of our Communty leadorshlp work, ￿1¢h fell from £109,983 In 2019120 to £68,&87 in 2020f21. This was due to the ¢x*mplet￿ of three re8earch Ilnked projects in 2019f20 and thé departure of our wevious Chièf Execu￿ in March 2020 ¢Jevcrted 8 8vJnknt proFth'¢)n of ther tlme to Ihls sector of our th. The balance of our operating costs were Fundraising of £50.54512019r20 £80.960) and other Charitab 8UPPOrt costs of £153.59212019r20 £104.473). Other Ch8rrtable support costs include costs relating to Governance and strategy, Charity operaUons, Fundraising SUPPOrt costs and Covhl office costs. The increase in spend in 2020r21 comes as a result of a continued frKus on sharpening the chan'ties goveman¢e and strategy incNAding developing and completing the flve year plan, and the decision to not attribute our office costs acfOSS all sectors of our work as In a standard year due lo ¢ovid resth'ctions and our temporary offKe ck)sure. However, as a percentage of ¢)ur totsl ¢osts, Ihe charlty spent only 5.6% on Govemance and strategy and Management and admlnlstralk)n costs, an idents'cal prowrtlon to that In 2019r20. 9. EXPENDITURE 2021 2020 Investment Managemerrt Fees 83,303 83,303 85,183 All investment management fe88 were attritMKsble to the endo%￿nent lurKI. Included in net incomal{exwMJiturel are the foll(Miry anounts.. 2020 Auditors Remuneration Operating lease renlals Depreciation of owned fixed assets Net gains l (losses) on revaluation of fixed assets Loss on sale of investment propert*s (￿al fees) 10,787 14.1>3 5,274 5,172,434 10,659 18.873 6,068 {1.557.256) 4,474 The Community Foundatlon for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements 10. STAFF Cosrs 2020 Salari8s & wages Soclal security costs Pension costs Payroll management costs Working frcAn home allowarKe Costs of employlng staff 332.515 29,186 23,379 1,455 2.436 388,971 279,718 24,875 20.692 1,373 62 326,718 Staff eo•ts c•n b• 8ubdlvld•d ••:. Wages and salaries for direct empk)ye88 Costs of émploylng 8econd8d employae Irelmbursed 8e8 note 3) Acuu&J holiday pay and COVMI $taff bonus Tol81 payroll costs Contractor costs Total costs for staff and contractorn 340.338 28.318 20,315 388.971 86,334 455,305 326.718 326.718 65.328 392.046 The average h•adcount during the year was as follows.. 20 2020 Senior Managemenl Team Office l adrninistralson 10.1 10.0 Contractors 12.6 14.0 2021 2020 Average Full Time Equrvalent employees 45 The Community Foundation for Wiltshlre & Swindon Report and Flnanclal Statements for the year ended 31 March 2021 Notes to the Financial Statements 10. STAFF COSTS- Further Infomiation 2020121 was an exceplhjnal year from a slaff cost perspective. The former Executive. was seconded to UK Communty Foundatsons at the beginning of March 2020, and18ft the ompbyment of thè Foundath)n in July 2020 on confirmation of their appoinlment of ch￿ Ex￿￿trIe to th* charity. Their remunerabon during that period, all of whlch was recharged to UK Cofflmunity F￿rKJatiQn3. Is anatysed separately atove. Vtky Hlckey and Fiona Oliver ltsvo long -standing employees) were appointed as Joint Chief Ex￿UtiVeS on an interim basis until September 2020 when thdr appointhients We￿ ¢onfim)ed. One other senior employee wa$ app)inted M an interim basis as Director of Programmé Delivery. an appointment was also c0nfirn￿d in September 2020.. they joined the Dlrector of Philanlhropy as the organisab'on's Senior Management Team {SMT). The SMT was Ccmpleted with the pennanenl appolntment of a Research and Engagement Manager in Octot*r 2020, who had pyeviously worked for the organisatlon as a contractor, promoted to Dirxlor of Researc* and Engagement In April 2021. In the view of Foundation, the SMT, together V￿th Ihe board of trustees are unremunerated) rep￿Sent the key management Personnel of the Foundation. The toLql empk*yment benefits induding gross salary. empkjyer pension contributions and employer Nl of the key management personnel vKre £212,150 {2019r20 £94,869). •mploytts r•c•lv•d remunerat￿ of b8t*wn £80.000 £70.000. In 2019120 on• employee received a salory ol betrmen £70,000 and £80.000. Neither romuneration nor payrr￿S for ¢on8ult8ncy sepirm prO￿ded were paKI lo INsiee8 in 2020121 (2019r20 £nll). No expan88s of any kind were paid to twstees as all meetings Virtual in 2020121 . No costs rdating to Trustse Indemnity insurance were paid in the current ￿ wor year. In 201 W20 the following expenses were pald to lJustees:. 1. £1,488 wa8 pald to tsvo trustees for travelling expenses {spht £1,327 8rKI £121). 2. Auommodation expendlture tolalling £683 was pald directty by Ihe charity to a 8uppller for four tru8tee5 to attend Ihe UK Community Foundab'on's national conference in Glasgow. 3. The charfty ¢y)ntrfbuted a total Of £110 for 10 trustees to attend a Christmas moal, the pa￿l wa$ made directly to the suppl*. Du? to th• Coronavirus pandem￿, 8tsff ￿re required lo a signffl¢ant increase in workltsad, 8taff Wofked a conshIerab￿ number of addit￿￿81 hours wh￿h entilled them to take ts'me off in lieu ITOILI for the addib'onal work undertaken. This meant that much of the holiday taken during 2020121 was covered by TOIL and the￿10￿ a provision has been made in these ￿)Unts for the unpaM1 holiday leave of £16.277. In 2019120 Ihls was r￿1 the case and there was r￿ ury)aid hoh'day leave. The contractors working with the FOundat￿n duriTrJ 2020f21 varyirvJ hours each week. Their contracls are based on 22.5hrs per week but due to ￿ changing nature of tr*ir hours and their status as contractors, they have been excluded from the FTE cakulatson on W. One contr&tor became a part bme empk)yee in October 2020 reduclng the 8verage number ol contraclors em￿ to 2.5 in 2020r21. The Communlty Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements 11. 8TATEMENT OF FINANCIAL ACTivmES (INCLUDING INCOME AND EXPENDrruRE AccouKr) COMPARATIVE TO PRIOR YEAR BY FUND 5% 47 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements 12. TANGIBLE FIXED A5SEt5 Compirt•r & Computor & offl Equlpment Equlpment Prfor y••r ¢omp•rlson Cost At 1 April 2020 Addlb'ons At 31 March 2021 58,314 2.233 80.547 At 1 Aprll 2019 Addibons 58,314 Al 31 21Y20 58,314 DeprecIa￿On. AI 1 Apfll 2020 Charge for the year Al 31 March 2021 49.079 5.274 54,353 At 1 Awil 2019 Charge for the year At 31 March 2020 43,011 6,068 49,079 Net Book Valu8 as at: Net Book Value a$ at 31 March 2021 6,194 31 March 2020 9,235 31 March 2020 9,235 31 March 2019 15,303 13. INVESTMENT PROPERTIES 2021 As at 1 April 2020 Dl8posal8 Cost Unrealk8ed galn AS 8131 MaTch 2021 290.1)00 (290,000) The FourKlation held freehold tltles to 26 properti8S with￿ the restrthd Altr•J Em8St Withy Trust Fund. The ground rent due on the properties ranges from bets¥een £1 and £1.50 per year and c{￿lected by solicitors when the leaseholds are sold. Due to the low Val￿ of the annual ground rent no attempt has been made to value these freeholds or lo make any provision for grc4Jnd rerrt rewvable in these accounts. The freehold tit￿ for th& properti88 are held In the Foundation's name Yolb￿.ng transfer from the prevh)u$ trustee Iwlishwe Council) in 2018. In 2020121, the Foundation offered the current lea5ehofvJers the opwthnity to wuire thwr indivKlual freehold in return for payment of £500 per freehold and an agreement to meet all relevant legal and conveyancing costs. During tP ¢urr¢nt year thre¢1ga¥eholders opled to wuire their freehohjs arKI thg net paymgnl$ made by them were credited to the Alfred Ernest Wthy Trust Fund. The rvmaining 23 fths continue to be held by the Foundation. In the year ended 31 Match 2020. the Communrty Foundation dispcsed of the tsvo investment properties held withln the restn'cted permanent endthvmenl of the Shuker Edu¢alb)nal Fund. The prcK£eds of both property sales were allocated to the ￿$tricted Shuker Educational Fund. The Communlty Foundation for Wiltshire & Swindon Report and Flnancial Statements for the year ended 31 March 2021 Notes to the Financial Statements 14. INVESTMENTS Pordollo manayr Smlth & Wllll•m•¢)n Qultt•r Cheviot CCLA 2021 2020 Fund• undgr manag•m•nt comw18•: InvestffEnts Uninvested cash Totsl funds under management 15.978.186 522.652 6,498,838 5.629,827 257.647 5.887.474 5,529.711 27,135,724 22,951,781 780,299 519,376 5.529,711 27,916,023 23,471,157 Inv•$tm•nt Movemonts Investment valuatlon as at 31 March Add: Addiuons L8ss.' Disposal priKeeds Realised gainlllossl Unrealised gainl{loss) Inveslwffant valuation as at 31 March 13,745,047 4.827,793 3.136,743 929.486 {4,075,229) (983,493) 119.908 14.697 3.049,717 1.041.344 15.976,186 5.629.827 22.951,781 23,311.092 15,926 4,082,155 6,503.069 111,2191 (5,069.9411 15,299.4261 116 134,721 (19,6481 945.947 6.037,008 1.543,306 5,529.711 27.135,724 22.951.781 20.0% 100.0% Percentag8 of overall opening FQrtfolio Perc8ntage of overall clo8Sng Ffrftfolio 59.8% 20.2% 20.7% 20.4% 100.0% Ca8h mov•monts Cash reallsed In year Inveslmenl fees Cash wlthdrawn from portlol Cash translerred to Flagstone portlolb Increaselldecreas81 in c88h held by Investment managers 938,486 (49,805) 54.007 (31,765) 992.493 {81,5701 {742,965) (83,723) {110,000) 650,000 238,681 22.242 280,923 {936.888) C88h held at 31 March 2020 283,9T2 235.404 519,376 1,458.084 Cash held at 31 March 2021 522.6S3 257,646 780.299 519,376 Galn•llLoM••l for lh• Year Realised Unrealised Equalisalion 134,721 (19,6471 5,037,008 (1,543,306) 705 5,697 5,172,434 1,557,256 During the year, the Foundation eXper1er￿ed capltsl perf(￿arth wth total gains (both realised and unrealised) of £5.2 milllon, representing overall gains of 22% a¢ros6 all three portfdios. During the previous year, thse5 of 6.3% were realised as a result of the markel downtum at the start of the CoronaviTUS pandeml¢. During the year, significant cash wthdrawal of £650,OLKJ was made from the Smith and Williamson investment portfolio to ensure that sufficient cash was available to meet upc￿Ing grant paynxnts. These fund5 V•*re rivested wrthin the Flagstone cash portfolio (see note 16 for fvrther details) The Foundaty'on's Ihree investment pxttolh)'s affj overseen by a cTrinvestrnent commthe which includes representatives of each of the four Communty Foundal*)ns whose funds are Go-managed. The Smith & Williamson and Quilter Chevlot portfolio's are invested in a range of bonds, equrties and man&3ed funds and attemative investment products principally investing Xr0￿ the UK. North American, European and Japanese Markets. The CCLA portfolio is invested in unrts in the char￿es. Offtkql Investment Fund with a separate account for each endowment fund comwised wthin the F#)rttolio. Consequendy there is no uninvested cash wtthin the portfolK). The estimated year end yidds were Smith arKI Williamson 2.3% {2019r20 3.1%) and Quilter Cheviot 2 0% (2019120 2.3%) & CCLA 3.0% {2019r20 3.5%) All investments are induded in these accounts at ther fair Value. usng the dosing quoted market Pr￿ for listed investments. 49 The Communlty Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements 15. DEBTORS 2021 2020 Trade Debtoryd Prepayments Lega¢ie$, Donat*)n6 and grant fvnds r•¢oivable Taxali)n recoverable Interest and other investment incorne 28.004 14,721 11,117 10,301 470,(￿J0 1,321 75,425 589,471 4.557 2,172 89,409 97,5S6 A6 noted In note 2. the Foundatton are due to reC￿Ve a legxy £470.OOD, of this amount £290.000 has teen received a8 at October 2021. 16. CASH AND CASH EQUIVALENTS Ca8h gt bank: 2021 2020 Cash at Bank and In Hand Short Tenn Deposits FLqgstone Cash Portlolio At 31 March 2021 47,033 230.958 237,884 366,452 637,424 279.746 Given the unprecedenled expansion ol the woth of the Foundallon during the pandemK, a declslon was made to reduce the proportlon of funds held wfthln the charfl￿6 Investment FX)rtfolio with Smrth and Wllllamson. The 8um of £650,000, as noted In note 12, was invested in a portlollo of noti￿ a(yxJunts and fixed lemi deposits for terns of than one year on the Flagstone platfom. Withdrawals were made from this F£Wtlolio and utilised towards the payment of grants. The balance held on the Flagstone PortfolKJ as at 31103r2021 arn¢)Unt￿ to £366,452 whlch was spllt betsveen 6 different finance provid8r8. to pnjvhde maxlmwn Pfotth under the Finncial Servicas Compon6ation Scheme. 17. CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Accruals for grants payable Trade creditors Regular Accruals EXC￿Onal xcwal8 527.on 12,812 40.858 27,263 $46,216 7,435 34,514 588,165 Exceptional accru81s comprised the cost of outstsnding annual *ave unutillsed by staff members as at the year end £16,277, A Covid 19 bonu5 award of £4.038 due to the exceptional work carried out by the tsam. and a donats'on return due to a Ch￿ge in a programme delNered. 18. CREDITORS AMouKfs FALUNG DUE AFfER MORE THAN ONE YEAR BiTr wmiiN 20 2020 Accruals for grants payable 192,633 265,861 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Flnancial Statements 19. ENDOWMENT FUND ¢DI Jp J*r rv VLJ IY• *o)¢J41 (Of•JO 4r4 C EO- > •OcfJ)Nr>0ffj7J• x £ ai 115 0 0"_ 51 The Community Foundation for Wiltshire & Swindon Report and Flnanclal Statements for the year ended 31 March 2021 Notes to the Financial Statements 19. ENDOWMEPU FUNDS - continued Zrw {} Egy02 •xo ryjw IXCE X J f£JO OP-- *oa) ow)(o a> )*riri Ln 4c4 T>c c EOE JLLIL C CO c oE• XÉSSOO <0?Q￿ >0 >¥¥¥ The Community Foundation for Wiltshire & Swlndon Report and Financial Statements for the year ended 31 March 2021 Note5 to the Flnancial Statements 19. ENDOWMENT FUNDS - 2020 comparfson data conlinued The Community Foundation for Wiltshire & Swindon Report and Financial Ststements for the year ended 31 March 2021 Notes to the Financlal Statements continued 20. RESriucrED FUNDS At 1 Aprll 2020 Tran•farn Transfers from from 0nd0￿￿O￿ unrn•trlcted At31 PAarch 2021 Incom• Expndltur• Restricted Funds wllh closing balances > £25.000 or < £njl Alan Evans Memorid T￿￿1 Grants Fund 23,315 20.597 John Cowe M8mori81 Grants Fund (4.570) 5,450 MBS - Devon Clubs in Crisls 37,186 MBS - Willshire Clubs In Ctsi8 48,483 Peanuts Trust Grant Fund 22,008 strategic Grants FuThl 2018 - Stronger Families 40,000 Tony Long Trust Grants Fund 21,989 William Doc Couch Grants for Indiv￿juaIs $6,221 Wiltshire & Swith Coronavlrus Response Fund Wiltshire Educ*lon Grants Fund Othèr Restrlctsd Funds (15,650) (18,883) 28.262 10,829 17,174) 37.186 48.483 43.376 1.881 (140,620) 30.672 21.368 {182,501) 10.452 {1,769) (118.352> 70,055 41.600 49.524 78.525 293.165 (370,791) 38.302 29,529 {39.LYJ7) 248.163 1,234,552 (1,502,￿7) 303.109 1,809.180 {2,067.419) 14.039 95,000 109.938 28,824 1,102 185,319 97.983 413,790 204,489 270.937 2020 comwrl•on dats At 1 Aprll 2019 Trnn•f•rn Tr•n•f•rn frorn from •ndowm•nt unM•trlct•d At31 MaKh 2020 Incom• Expwdltur• Restrlcted Fund$ with ck)sing balan¢e8 > £25,000 or < £nll Blagrave strateg￿ Impact Grants Fund 26,877 14.928 Broad Town Tn￿t Grants FurKI 17.500 28.605 John Cuwe Memorial Grants Fund {10.3521 5.782 Naticnal Emergencies Trusi Coronavirus Response Fund 47.500 Pargiter Trust Revenue Fund Shukar Educational Grants Fund strategic Grants Fund 2018 - stronger Families William Doc Cw¢h Grdnts for IndivKlual$ Wiltshire & Swindon Coronavirus Response Fund Wiltshire Education Grants Fund #lwill Grants Fund Other Re5￿tsd Funds (45,9041 {4,1011 39.982 14.570) 34,398 31.205 36,594 {182.501) 18,1231 (21,3001 {13.104} (38.795) {20.000) {33,118) 49,112 21,300 ,0 34,519 10.270 35.191 (245,1751 3,292 72,031 {67,838) 70,055 879 78,525 38,302 25,493 139.729 303,109 49,235 37.717 (48.650) 50,000 (24.8701 150,924 522,787 (878,3651 .594 985,614 (1.083.049> 344,383 303.950 55 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statements 20. RESTRicfED FUNDS continued The Restrrcted fvnds operated by the charity a￿ all lunds that ￿ceNe income fcx grant4naking eiiher from related endowment funds or from speafic donations lo those fvrrfls. As a general rule, these funds are all 8hort-18rm in nature and. depend8nl on finding Sutrtsb￿ grant berefwries, irwme re¢eived is nrnlly dlstribuled by way of grants by tha end of the year I￿lO￿n9 ￿e￿Ipl. Restrfcted Funds wrth ¢b￿ng balances of > £25.000 or In delh* as at the end of March 2021 are detailed on p54, 1 reStr￿￿On8 on those lunds are as follow•E'. hjan Evans Memodal To prwlote the pernMr*nt Frfeser¥athy) for the benefft of tre natron of Lqnd t8nements (IncI￿lIng Grants Fund buildings) of beauty crf hk8lonc interest as regards land the preservatron of their natural a8pec( features and anim81 and plant Irfe. The increase in the value of this fund abave £25.000 is part 88 a result of coronavirus reSt￿tIOnS delaying the completed applution of a p)tential grant as thè work io bè fftdertaken i• not POSBible until coron8virus reSt￿tionS have teen Iltsj. John Cowe M8morlal A ￿rtOr a0*￿d endowmenl Inco￿ furKI to 5UPPOrt groups in Swtndon and Witshire worklng In Grants Fund the aroa of advocacy and supported empbyment 0pportunft￿3 for people ￿th As￿r￿S syr#Jrome MBS- Devon Club8 in A fvnd providing gr8nts of nornialty up to £2,021 grassroots sports dubs In Devon. Thls Cris lundirg to be direcled at smaller clubs and organwbons promoting support for developmènt prrmarily to those under 25 MBS - Willshlr• Clubs kn A lund pro¥hJlng grants ol norn￿1ty up to £2,021 for grassroots sports dubs in Wiltshire. This Crbls funding to be directed al smaller ¢lubs and organisations womotsng 8UPPOrt for developmènt primarily lo those under 25 A donor advised lund combatlng the effe¢18 on thiklren and famltles who are 8twgling to copè wtth chldren ￿￿th behavM)ural woblems aTrJ the delay in the eady Intervention proce68 Peanuts Trust Grant Fund Strategic Grants Fund A restricted fund to collate all donatThs arKI transfers *)d pass these through lo the 2018 2018 - Strongèr Families Saltsbury strwr Famifies Programmt {Salisbury} Tony Long Trust Grani8 A restrithd grants fvnd for u80 within a 10 ml8 radius of Swlndon Town Centre foi the benefft of Fund those with ¢erebral ￿l$y- consid8ratK>n will t* givén to persons suffering any brain injury if th¢fO are $urplu$ fvnds An endoWrn￿1 income fund supp￿ng young peoplo aged 1&25 In education William Dct Couch Grants for Indivldual$ Wiltshire & Swlndon A flow through fvnd for donaoons re￿1Ved frcrn WCF sUPp￿terS to support thos8 affectéd by Coronaviru8 Response the Coronawrus Pandemt. Fund Willshire Educati Grants Fund An endovmient Income lurKI supporb'ng young people aged 16-25 in education other Restrlcted Funds balance of £185,319 Indudes. 15 fbw Ihrough furKls ar)d 69 endo*Tht grant fuThJs. Al fund5 detailed Mithin'other Restrthd FurKls" have a ck)stng bala￿￿ as at 31 Marth 2021 > £nil < £25,000. At the end of 2020121 tsyo hjnds were in defth. The reasons for these deficlts are detailed on p56. The larger def￿1t, 88 In previous years is in respect of a mulb"_year project It artses as a resull of the requirements under FRS102 for the trustees lo report the total amount of grants awarded in the year in whith the grydnt was made, even rf payment of those grants wll be made using future inc>)me st￿mS and payment will be made over a period of years. This leads to the outstanding grants being Sho￿ as creditor5 in the Balance Sheet. The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financlal Statements 20. RESTRicfED FUNDS contlnued 1. John Cowe Memorlal Grants Fund deficli £7,17412019r20 deficit of £4.570)- as anticipated, income weived this year cleared the defidt bakqnc£ brought forward at the end of kst year, ho￿ver. towards the end of this year a grant was made from this fund of £8.054 wh￿h generated the defyit recorded of £7.174. Slnce the year end. a transfer of £8,054 has been male from the John Cowe erKlowment fund to dear this deft 2. Strateglc Programme Stronger Families- Salisbury £140,620 deftil12019r20 dthit £182.501)- This grant fund ¢ollale6 donations in support of a mults. year Programm￿trOnger Families in Salisbury. Origlnally 8 4 year grant of £272k was avrdrded in December 2017 . In January 2020 the programme reforecast, reducirKJ the overall award to £223k and the programme wll now C1)nUn￿ into 2023. The sum of £41,881 was receNed in 2020r21 towards this programme. The remalning grants instalments whth are to be pa￿ over the F*￿d to 31 March 2023 arnounl to £141.259, the defiac of £140.820. will be funded in 2021r22 and 2022123 through new donations io the programme or through drawdowns from eNlowThent funds. Details of transfers Ore d¢¢umented in Nde 22 21. UNRESTRicfED FUNDS Al 1 Aprfl 2020 At 31 March 2021 Ineom• Exp•ndltur• Tran•f•r• De$lgnat•d Funds Unrestrktsd Grant Fund8 10,472 69,792 37. 24,170 Unrestricted Funds Other Acb'vitie8 Totsl Unrestricted Funds 42,027 52.499 530,370 600,162 570,122 608.090 43.017 18,847 45,292 63,418 Deslgnated Funds Include the balances of Unrestricted grant furwjs (General Unrestri#ed Grants and Calms Revenue Fund). 08talls oflransfgrs are documenknd In Note 22 Prlor y•ar ¢omp•rl•on At 1 Aprlb 2019 At 31 Ma￿h 2020 Ineom• Exp•ndltur• Trnn•fw• Designated Funds Unrestrthd Grant Funds 8,623 8.623 90,971 90.971 153.399 (153,399) 64,277 64,277 10,472 10,472 Unrestncted Fund8 other Activtb8s Total Unrestrided Funds 81,600 90.223 468,970 559 941 540.773 694,172 32.230 96.507 42,027 52 499 57 The Communlty Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statement5 22. FUND TRANSFERS 2021 Fund• Fund$ Fund• Fund TOTAL Endowrn•nt •x￿nd001 (add•dl durlng the y•ar To meet 4% income requYerr*nt Specific additional drawdowns Hhjh Shertff event donatK)ns transferred to High Sheriff endowmonl fund 70,830 194,275 77,886 {265,105) (77.886) 1.224 (1,224) Total •ndowm•nt fvnd ￿￿*1•￿ Inot• 201 70.830 270.937 1341,787) Olh•r Fund Iran•f•rn From unrestricted funds to restricted fund5 for Coronavlrus Re8pon6e & Recovery fund (95,000) 95,000 From unre8tricted funds to restrlcted funds - lo clear lund balance (88) 88 From unrestricted fund to reStrkI￿ fvnds . to fund grant return From endowrnent fvnd to unre8trkted funds lo fund core defidt (2,895} 2,895 {46,000) 43.017 195.LX)O) 97,983 {46,000) Total fund transfers 43.017 124,170) 368,920 {387,787) Total Unrestrlcted Fund Transfers Endowment expended for addftlonal 8rant maklng The capitsl of the expendable endowment fund is unrestrkted and is availabl? for use at tho d16crelk)n of the Tru8tees In furthgrance of the general obiectbves of the charlty. During 2020121 Trustees conlwiued to expeThJ funds frixn the expend8bSe endowment to enable increased grant making during tho year. The amount to be expended was calcull3ted based on a required income of 4% per annum appliad to quartedy valuat￿nS less actual income received. Following this wocess. a tolal of £265,105 was expended from the Expendable Endowmerrt during the year (2019r20: £229,250). In addition, amounts were exF￿rNted from endo*Thent funds where the restriCt￿S on the funds matched with appli¢allons received during the year. This ensured that lunds were utilised as effectively as possible. These extraction$ totslled £77,886 (2019120.. £123,786). This ye8rfs transfers ￿cl￿ded £14,039 requested by endt)wmgnt fundholders to contribute b) the Coronavirus ResP￿se & Reo)vtty fuThJ. Other fund tranatsrn Details of other fund transfers are shovm above. Unrestrthd design8teA grants fund would normalty support our Found*ion grants programme t*rt in 2020r21 it was wJreed that the fijnds would te wIl￿ated to support our Coronavlrus Response Recovery fund. The Communlty Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Flnancial Statements 22. FUND TRANSFERS contlnued Prlor Y•ar compar1￿1 2020 Unr••trlct•d D•slgnat•d Restrlct•d Endowm•nt Funds Funds Fund• Fund TOTAL Extractlon8 from expendabl• •ndo￿ant for •ddltlonal grant making To meet 4% Income requirement SFwfic drawdewns 64.277 164,973 123,786 288.759 1229,2501 1123,7861 1353,036} 64,277 Oth•r fund tran•f•r• From unrestrfctsd fund to roslrthd funds for lonèllness prolect C*rance of small fund balances (18,664) 894 18,864 {3,473) 2,579 {50,0001 {47,421) From 8nd¢)wm•nt fvnds lo unre8trKted fvnd8 50,OIXI 32.230 15.191 Total lund transfers 96,507 303,950 1400,457} 23. ANALYSIS OF FUNDS BY NEf ASSErs 2021 Unr••trlct•d DMlgnal•d RMtrlct•d Endowm•nt Fund• Fund• Fund• Fund TOTAL Tanglble Fixed Assets Inveslrnents Current assets l (llaknli￿I Current Ilabllitles Credilors amounts falllng due ats m(Tr than one year 6.194 6,194 22,876 27.893.147 27.916,023 1,119.949 1,226,895 1536,4021 121,8811 1808.005) 1192.6331 192.633) 413,790 27.871,266 28,348.474 39.098 67.848 (49,7221 45,292 18.126 Prlor y•ar eomparlson 2020 Unmtrkted Deslgnat•d RMtrlct•d Endowment Funds Fund• Funds Fund TOTAL Tangible Fixed Assets Investments Current Assets Current liabillt Creditors amounts falling due ats mote than one year 9,235 9.235 803.967 22,667.190 23,471,157 307.476 42 377,302 {W,193) (18,972) 1588,165) (26,520) {239.141) 1265.661) 303,109 22.648,260 23.003,868 32.7￿2 36,992 42.027 10,472 59 The Communlty Foundation for Wiltshlre & Swlndon Report and Financial Statements for the year ended 31 March 2021 Notes to the Financial Statement5 24. FINANCIAL COMMITMEpirs At 31 March 2021 the Foundation had the total of fu￿￿ minim￿￿ ￿e payments uThJer nonuncell8ble operati ses for each of the following periods: 2021 Land & Bulldlng• Total Less than one year Be￿een one and fve years More than fve years 18.600 242 18.842 10,209 27,900 1.151 29,051 Prlor yoar ¢omparl•on 2020 L•nd & Bulldlng• Oth•r Tot•1 L•ss than one year Btheen one and fve years More than fbve years 18,800 23.250 273 18,873 23.295 45 41,850 318 42,188 During the year our landlords agreed a 3 monlh rent holiday in exchange ftx the Chanty agreeing a thre? month ex- tens￿n to our le88e. 25, PENSION COMMITMENTS The Community Foundation contrilxjtes to defrned contrityjtion schemes in which employees are momt*r8. The a888ts of the8e Schemes are held separatety from those of the charity in independently adMin￿ler9d funds. The pension o)st charges for the ￿riCrfj ￿Te". 2021 2020 Senior Management Team- Ilve members {2019r20.' one member) Other staff 14,591 8,787 23.378 5,943 14,749 20,692 The Community Foundation for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2021 Notes to the Flnancial Statements 26. RELATED PARTY DISCLOSURE Donations totalling £1,138 were recelbEd fmm trustees during 2020121 (2019r20.. £43.246). None had ￿nditiOnS attached to them. Donatk>ns totalling £135,000 vme fKeived by th8 FoundatiM Imm organisations wtlere connection8 exist with trustees during 2021)r2112019r20.' £1,380). NcTh had condltions attached to them. In February 2016. our IT support D￿￿[On, ￿Te wulred by Excalll)ur C￿rrYjn￿tron5. we ha¥e continu to use Excalibur lor our IT support ser4ices. Betsveen March 2018 and March 2021. James Phipps a Director of Ex¢allbur served as a Tru8tee. During the period that James 8eThed as a trustee incurred costs of £16,913 12019r20'. £5,986) In January 2017, the spouse (Philippa Wall) of a trustee (Steve Wall) was employed as a part tlrno Finance Assistant. role Ihal she continues lo luffil. The standard recruitmont pr(￿8 was followed with four other applunts attending interviews. The successful candidate had relevant 8xperw)¢e and he￿ qualificatkM8 in exrAss of th088 requlred for the Tole The folbwing grants that have been awarded by the Foundation duving the year to 31 March 2021 to organi5ations where our own trLSStees have a relats'onship with the bereficiary organisation. Vthare a tru$te8 has now retsred from the Community Foundation, we have Included grants awarded up to their retirement date: Swindon 105.S were awarded three grants lotalling £22,000. James Phipps Is a Patron for ￿ndon 105.5 and was a Truiteé for the Communky Foundation at the tirne that the 9rants 7A•re madè. The Platlom Project were awardod fve granls totalling £25,100. James Phipps 18 a Non•xecullve Direclor for tha Platfom Pmlect and was a Tru8te8 for the C￿munty FoundatN)n kn the pwK¥J the grnnts were made. Tmwbrfdge FLrture wa8 awarded fNe grants totslling £24,135 durlng the year. L*a Lewis *rTked as safeguarding advisor to that Charity. The Filling Statr'on were awarded grants totalkng £1,202 ANJUS Ma¢Ph8rson Is a Tnjsiee for the Fllllng Slatlon and for th8 Communty Foundation. Potential conlli¢ts of interest in relat￿n lo grant applicatior￿ are acknoW￿dged ￿thin the Temis of Reference for Grant Committees Considering Grant Applications from Groups as follows.. When an applicalhw is under discussion In which a member, adviser or staff member has an interest. helshe musl dec￿re it and leave the room for that part of the meeting. A confllct of Inte￿$t in this case is where the ￿r$On has a direct financial interest in the outcom8. or familial or close frEndship relationship with someone WIK) ha5 a direct interest. Interest must also be declared rf an Indlvidual has been closely wivdved in proparing the applKabon. even have no other intsrest in the rg¥uIL" 27. ULTIMATE coKfROWNG PAKrY Tho trustees consider th* the cliarty Isfftiinlly ¢<￿trOlled by the trustees and thal thwe is rK> ultimate omtrolling paty. 61