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2023-03-31-accounts

East End Community Foundation

(a company limited by guarantee)

Annual report and financial statements

For the year ended 31 March 2023

Charity registration number 1147789 Company registration number 08104415

East End Community Foundation

Contents

Page
Reference and administrative information 1
Chairman’s report 2
Trustees’ report 3 - 9
Independent examiner’s report 10 - 13
Statement of financial activities 14 – 15
Balance sheet 16
Statement of cash flows 17
Notes to the financial statements 18 - 44

East End Community Foundation

Reference and administrative information

For the year ended 31 March 2023

Trustees Bronek Masojada (Chairman)
Katherine Webster (Vice Chair)
Alkhad Ali
Babu Bhattacherjee
Laurence Everitt
Rev Jeremy Fraser
Jim MacHale
Catherine McGuinness
Guy Nicholson
Sahidur Rahman
Rick Watson
Charity registered number 1147789
Company registered number 08104415
Company secretary John Dawson
Principal office EECF
Jack Dash House
2 Lawn House Close
London
E14 9YQF
Bankers Barclays Bank Plc
1 Churchill Place
London
E14 5HP
Independent auditor Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Investment managers CCLA
Senator House
85 Queen Victoria St
London
EC4V 4ET
Eden Tree Investment
Management
24 Monument Street
London
EC3R 8AJ

1

East End Community Foundation

Chairman’s report

For the year ended 31 March 2023

The past year has been one of contrasts. There have been some dazzling highlights: the tangible impact of the first year awards through our Life Chances campaign – hearing the powerful and very personal journeys of young people in our community as they are supported into secure, sustainable employment - or witnessing the transformative effect our digital inclusion programme has upon the financial, social and educational status of the whole family. I continue to be inspired by the enduring strength, resourcefulness and expertise of the voluntary sector across the East End, and the EECF team’s skilfulness in directing grants where they will realise the greatest potential. Against these successes is a sadly now familiar narrative of seemingly ever-increasing costs, and a parallel increase in demand on services provided by the voluntary sector from households experiencing acute financial pressure.

EECF works hard to be an agile and responsible grant-maker, which listens to and acts on the feedback from the voluntary sector across the East End. As our grantee partners have reported worryingly consistent experiences of dipping into reserves and considering cutbacks to expenditure, we have responded by offering greater flexibility in the use of our funding and reviewing the value of our awards. We have increased the value of our multi-year Life Chances strategic grants – recognising the increased costs to groups even where activity remains constant – and are working with donors who hold funds with us, to ensure their giving continues to deliver meaningful support to grantees. This includes ensuring that funding is available for smaller groups which play a crucial role in fostering community cohesion and wellbeing but can find it challenging to access funding through traditional avenues. The Life Chances Housing Association Consortium Fund, launched this year through investment from five housing association partners is a good example of this, providing grants to 11 predominantly community-led groups working at grassroots level in Tower Hamlets.

Amidst a challenging external environment, I must express my sincerest thanks to the continued generosity of our donors who, collectively, have enabled us to invest more than £1.6m in the voluntary sector across the East End during 22-23, benefitting 246 voluntary sector organisations across the three boroughs. In particular, I would like to thank those donors who have supported our Life Chances Campaign to date, and those whose vote of confidence in EECF’s work extends to investing funds and outsourcing major grants programmes to us.

As we look ahead to 2023-24, a new business plan, running through to 2028, will keep us focussed on generating increased funds to invest strategically and consistently in those organisations best placed to deliver lasting change for our communities.

Bronek Masojada Chairman

Date: 19[th] September 2023

2

East End Community Foundation

Trustees’ report (continued)

For the year ended 31 March 2023

The East End Community Foundation (EECF) has been advising and co-ordinating charitable giving since 1990. Our purpose is to promote the relief of poverty and we do this by staying abreast of social needs locally and advising upon, matching and administering charitable donations on behalf of individuals, companies and statutory bodies committed to supporting those most in need in Tower Hamlets, Hackney, Newham and the City of London.

As a grassroots grant maker we have excellent knowledge of the charitable sector across East London and we are uniquely connected to its people and challenges. Our experience, expertise and research provide us with a thorough understanding of the causes and solutions to tackling poverty and our services are tailored to meet the specific requirements of both the community and our fund holders and donors.

As an advisor, we are dedicated to ensuring our fund holders and donors get the most from their charitable investments, educating them on local issues and bringing them closer to the causes they are seeking to support. Our experienced staff team provide our fund holders and donors with a comprehensive service of support, including advice on effective charitable giving in the East End through to full management of their funds. Throughout the process, donors have full control of decision making.

For our grantees, we are a vital source of financial support and we work closely with them from application stage through to monitoring and evaluation. We also provide a Funding Plus+ offer through which we deliver a volunteer brokerage service, sourcing corporate volunteers to support them with a wide range of needs, as well as delivering workshops to promote funding opportunities and advice on crafting good quality grant requests.

In addition, EECF occasionally directly delivers programmes that tackle inequality and address the East End’s most pressing social needs.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The East End Community Foundation (EECF) is a registered charity (No. 1147789) and company limited by guarantee (08104415). It was incorporated on 13[th] June 2012 and became operational on 1[st] October 2012, following the merger of Isle of Dogs Community Foundation (IDCF) and St Katharine & Shadwell Trust (SKST). The trustees, who are also Directors of the charitable company, present their report and audited financial statements for the year ending 31[st] March 2023. In presenting this report the trustees have complied with the Statement of Recommended Practice, Accounting and Reporting by Charities (FRS102) (the Charities’ SORP), the Companies Act 2006 and applicable United Kingdom Generally Accepted Accounting Practice.

EECF is a membership organisation with four classes of membership (voluntary sector, business, statutory and individual) and only fully paid-up members can stand for a seat on the board when a vacancy arises. Prospective trustees are interviewed by a panel of trustees which makes a recommendation to the full Board. The Board has the power to make appointments but these must be presented to the AGM for ratification.

The board of trustees may consist of no more than 15 trustees or no fewer than 9. Our Articles state trustees can serve a term of 3 years before having to stand for re-election. Trustees who have served 3 consecutive terms shall not serve for a further term commencing earlier than the end of the Annual General Meeting following that at which they retired from office. On the 31[st] March 2023 EECF had 11 trustees. EECF seeks to possess a Board that has equal representation from the following classes of membership classes: Business, Statutory and Voluntary.

Trustees may co-opt up to 5 individuals who bring specific skills or expertise not already represented on the Board. Further expertise is also brought in the form of ‘contributors’. These individuals support specific aspects of EECF’s work and their involvement is generally confined to a committee. Neither co-optees or contributors have voting rights, their appointments are for a term of 12 months and are reviewed annually by the board. On the 31[st] March 2023 EECF had 3 co-optees, with a further appointment made in May 2023.

3

East End Community Foundation

Trustees’ report (continued)

For the year ended 31 March 2023

Board of trustees

For the purposes of the Companies Act 2006, the Board of trustees is regarded as the Board of Directors of the company.

EECF has a formal trustee induction process that includes receipt of a trustee handbook and a one to one meeting with the Chief Executive. Where appropriate this is followed by a further meeting prior to their first board meeting to take them through the agenda and provide useful background information. Trustees are also encouraged to visit some of our grantees to better understand the needs of the community and the impact of our work.

No remuneration or expenses were paid to trustees or co-optees during the year. All declarations of interest are held on a formal register and trustees must raise these, where relevant, at the start of every board and committee meeting. In those cases, this is noted in the meeting minutes and trustees are excluded from the discussion and decision-making process.

The trustees of the Charity during the year ended 31[st] March 2023 and up to the date of approval of this report were:

Trustee Name Member Name Membership Class Alkhad Ali SPLASH Voluntary Babu Bhattacherjee The LETTA Trust Voluntary Laurence Everitt (from 15/06/22) Northern Trust Business Jeremy Fraser Church of England Voluntary Jim MacHale Clifford Chance Business Bronek Masojada (Chair) Individual Catherine McGuinness (from 01/07/22) Individual Guy Nicholson London Borough of Hackney Statutory Sahidur Rahman Limehouse Boxing Academy Voluntary Rick Watson AFME Business Katherine Webster (Vice Chair) Individual Vicky Clark (to 18/06/2022) London Borough of Tower Hamlets Statutory

Management

The day to day running of the charity is delegated to the Chief Executive, Tracey Walsh. The Board is responsible for setting strategies and policies for the charity and ensuring they are implemented. To assist the Board with its work, EECF has four Committees and a working group, the functions of which and members and contributors for the period ending 31[st] March 2023 were as follows:

Finance & Administration

Rick Watson (Chair) Bronek Masojada Jim MacHale

Co-optees / Contributors Adrian Greenwood Mark Sherlock

Grants Katherine Webster (Chair) Vicky Clark (to June 2022) Sahidur Rahman Alkhad Ali

Co-optees / Contributors Stella Bailey Jo Ellis

Nominations

Jim MacHale (Chair) Sahidur Rahman Katherine Webster Vicky Clark

Co-optees / Contributors Ian Burpitt

Development & Communications

Guy Nicholson (Chair) Bronek Masojada

Co-optees / Contributors Anne Clark (from May 2023)

Workhouse Working Group

Jeremy Fraser (Chair)

Co-optees / Contributors Wendy Miller

4

East End Community Foundation

Trustees’ report (continued)

For the year ended 31 March 2023

Staff Remuneration

Staff salaries are set in line with similar sized charitable organisations and are benchmarked with recruitment consultants. We also have a recruitment advisor co-opted to the Board. In addition to trustees, key management personnel in the period to 31st March 2023 were Tracey Walsh (CEO), Kate Turner (Director of Development & Communications) and Allan Anderson (Head of Grants and Programmes). All staff, including key management personnel, are eligible for an annual salary increase of 2% subject to meeting a specific grade as part of EECF’s appraisal process. At the end of this financial year, in response to the cost of living increase, trustees temporarily discarded the 2% increase policy and offered a budget equivalent to 7% of salary costs. As instructed by trustees, staff in entry level positions received the greatest percentage increase. Posts were reviewed and grouped by skill and responsibility levels with salaries reflected accordingly.

Trustees are not remunerated for their role with the Foundation. They are able to claim relevant expenses such as travel, but no expenses were claimed in the period.

Risk Management

Alongside the Finance & Administration committee, the CEO and interim Finance Manager identify and review the major risks to which the charity is exposed and have established systems to mitigate those risks. EECF’s most significant potential risk relates to a drop in value of its endowment, leading to a loss of income, which would materialise as a reduction in grant making and contribution to overheads. In addressing this issue, the charity regularly reviews its investment strategy and the performance of its investment managers, details of which are listed on page 2. The loss of key staff is also considered a significant risk, so the Foundation regularly undertakes salary benchmarking, has an employee assistance programme which offers access to wellbeing and mental health advice and support, it continues to offer hybrid working arrangements and has introduced a Cycle to Work scheme.

Equal Opportunities

EECF is committed to a policy of equal opportunities in the selection, training, career development and promotion of all people, regardless of gender, marital status, race, colour, religion, disability or sexual orientation. The charity encourages people with a disability to participate fully in organisational activities, consistent with their ability, so that they can maximise the use of their knowledge, experience and skills in the charity’s work.

Grant Making

As a grassroots grant maker, EECF grants are awarded to registered charities, voluntary and community groups and other not for profit organisations that have their own constitution and bank account. All grantees are based within or delivering services directly benefiting residents within Tower Hamlets, Hackney, Newham and City of London.

Transparency is important to the Foundation so all awarded grants are published on our website, updated at regular intervals throughout the year.

As a Community Foundation our mission is to support grassroots activities and, as such, our grant programmes have been designed to do just that. Grants vary in value depending on the guidelines and objectives of each grant making fund we manage and start from £200. Funded activities and services are broad ranging and can be for one-off items of expenditure, e.g. equipment, social activities and training, through to initiatives addressing high levels of unemployment that exist locally. Our grant application and monitoring processes are reflective of the value and purpose of grants being sought and awarded i.e. lower value grant requests have a simplified application form and monitoring requirement compared to higher value grants.

Grants are awarded from three resources; EECF’s own financial resources, through our collaborative giving fund (Life Chances) and the charitable donor advised funds we manage on behalf of our fund holders and third parties. Full details of all grant awards are listed in Note 6.

5

East End Community Foundation

Trustees’ report (continued)

For the year ended 31 March 2023

Other Charitable Activity

As a philanthropy advisor, EECF is focused on understanding the community’s needs and directing donor funds to the charitable organisations best placed to deliver. But, in addition to this work EECF provides a ‘Funding Plus+’ offer and directly delivers a small number of initiatives for the benefit of the community. Our Funding Plus+ offer supports the voluntary sector with capacity building activities including sourcing corporate volunteers and delivering on-line workshops on funding opportunities and advice on how to construct a strong case for support. We also provide 1-2-1 support to applicants, particularly those smaller organisations run by volunteers.

Our Winter Appeal is an example of direct delivery that complements our grant making. Through November to February EECF co-ordinated the delivery of care packages for older people experiencing hardship and isolation as well as low income families. Our Winter Appeal initiative has run successfully for more than a decade. As has always been the case, EECF was supported in the packing and distribution of care packages by City and Canary Wharf based employees as well as some of our voluntary sector organisations. In 2022/23, 3,000 care packages were distributed in direct response to the cost of living crisis.

Aims and Objectives for the Public Benefit

EECF exists and operates for the public benefit. Through its grant making and co-ordination of charitable giving locally it works to reduce inequality and poverty within its geographical remit.

The formal objective of EECF, as set out in the Memorandum and Articles of Association, is to promote the relief of poverty and sickness of persons within the London Boroughs of Tower Hamlets, Hackney, Newham and City of London. With the full breadth of social needs existing in the East End, EECF has prioritised support for young people, older people and tackling digital exclusion based on learning derived from its Covid Emergency Fund and its Vital Issues research report produced in conjunction with the London School of Economics.

The Board is satisfied that its wide range of grant making programmes and the other charitable activities it delivers meet the requirement of providing public benefit as defined by the Charity Commission.

FINANCIAL REVIEW

Investment Strategy

To complement the skills and expertise of the Finance & Administration Committee, EECF continues to benefit from independent pro-bono guidance from Mark Sherlock of Hermes Investment Management in reviewing and monitoring the performance of our investment managers as well as its investment policy.

Both of EECF’s investment managers (CCLA and EdenTree) engaged in regular communication with the interim Finance Manager and Finance & Administration Committee to discuss performance and investment strategy in addition to providing quarterly performance reports.

EECF’s Investment Policy, which has a strong ESG focus, sets out the Foundation’s remit to maintain the level of income in real terms, seeking a return of at least 4%, and to increase capital growth based on a real return of at least 6%.

Reserves Policy

EECF’s reserves policy states the charity should aim to keep a minimum reserve of £640k of unrestricted funds to enable it to deliver a grants programme addressing social needs across its area of benefit, to meet the associated administrative costs of grant making and having core staff focused on donor development. At 31 March 2023, EECF had total resources of £29.1m of which £26.6m was designated or restricted for a specific purpose. The unrestricted balance of the funds amounted to £2.5m which meets the reserves policy requirement.

6

East End Community Foundation

Trustees’ report (continued)

For the year ended 31 March 2023

Designated funds of £4.2m remain to support any shortfall in our annual grant making budget (£0.5m), to offer an endowment match incentive programme (£1.2m) and to directly invest in property as a means of diversifying our income stream (£2.5m). The purpose of our designated fund was reviewed in September 2022 and remained unchanged.

Review of the period

The year ending 31 March 2023 was another busy and productive period. The Charity:

Year after year EECF continues to achieve more than it did in the prior year and this is something we are extremely proud of. Regardless of the challenges that come our way, to effectively and meaningfully invest in our local communities remains our priority. 2022/23 was another positive year with a broad ranging grant offer including multi-year commitments, new donor advised funds being launched, first-time donors joining our Life Chances collaborative giving campaign and a new website launched to improve our visitor journey.

Income for the period to 31 March 2023 totalled £2,495,516 (2022: £2,475,612) against which total expenditure of £2,556,450 (2022: £2,349,011) was incurred. Expenditure was higher than income as a result of the positive closing balance brought forward from the prior year. EECF defines its donor categories as Business, Trusts & Foundations, Statutory and Individuals. Income is generally highest under Business but in 2022/23 this was exceeded by Statutory as a result of our partnership with the London Borough of Tower Hamlets.

All Board and Committee meetings went ahead as scheduled and trustees and supporters remained actively engaged.

EECF’s business plan to 31st March 2028 was agreed in March 2023 with clear criteria to guide the work of the charity. For 2022/23 we agreed to operate in line with our approved budget and focus our efforts on progressing our Life Chances campaign. Information on our wider objectives for the year ending 31st March 2023 are detailed below. Achievement or significant progress was achieved on each objective, and where progress was slower than anticipated this was a result of the pandemic and therefore not within our control.

Grant Making

In the twelve months to 31st March 2023, EECF received 429 funding requests totalling £2.7m. We awarded 242 grants totalling £1.63m based on budget availability to support a wide range of social needs. Grants ranged from £355 to £40,000.

At EECF we have always embraced the diversity of our community and the ability that only local grassroots community organisations can have in identifying and reaching those most in need of support. As in previous years we have awarded funding to a diverse range of not-for-profit organisations serving our vibrant community here in the East End.

In addition to the financial support we provide in the form of grants, we continued to deliver well attended workshops to the local voluntary sector to advise on funding opportunities and how to craft quality grant applications. We also provided the same audience with our corporate volunteer brokerage service to aid their work, and continued to deliver our Winter Appeal to directly support the needs of vulnerable people locally.

7

East End Community Foundation

Trustees’ report (continued)

For the year ended 31 March 2023

Business Development

Despite neighbouring the wealthy areas of Canary Wharf and the City of London, the East End of London suffers from high levels of entrenched deprivation, adversely affecting young people and older people. Unfortunately, these needs and the localised approach required to effectively address them are often overlooked by those with the ability to give in favour of higher profile national charities.

To significantly improve our impact and achieve meaningful long term change for the communities we serve, EECF is committed to influencing the approach of donors to seek a more collaborative approach to community investment locally. Our Life Chances campaign is an example of this and although in its infancy we are making good progress and building momentum.

Develop plans for our freehold property in Poplar

EECF remains committed to ensuring we have a comprehensive offer that is right for both the charity and local community. During the year we focused our efforts on actively contributing to TfL’s feasibility study for South Poplar and progressing negotiations with our preferred development partner. Heads of Terms were signed in late 2022 but contract negotiations have stalled due to the slow pace of our preferred development partner and rights of access issues relating to the site that we are striving to resolve with the London Borough of Tower Hamlets and TfL.

Staff and Trustee Recruitment

We operated for much of the year with a full staff resource, with the only exception being our Head of Finance position remaining to be filled on an interim basis by a freelance accountant. The arrangement works well but we are committed to filling the post and strengthening the senior leadership team. The appointment of a Finance Officer during the year had an immediate positive impact on the organisation and staff team.

Trustees remained engaged throughout 2022/23 and alternated Board meetings between in-person and on-line which has worked well. In person meetings have tended to be held in a community setting.

During the year one trustee stepped down and two new trustees were appointed. All trustees are detailed on Page 4. Recruitment for the current vacancies is underway but EECF continues to possess an effective, committed and cohesive board of trustees.

Plans for the future

Throughout 2023/24, EECF will focus its efforts on achieving the following:

8

East End Community Foundation

Trustees’ report (continued)

For the year ended 31 March 2023

Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Audit information

So far as each of the directors at the time the trustees’ report is approved is aware:

Auditors

Buzzacott LLP are appointed as our auditors. A resolution proposing their reappointment will be submitted at the Annual General Meeting.

The accounts have been prepared in accordance with the special provisions of Section 415A of the Companies Act 2006 relating to small entities.

On behalf of the trustees

Bronek Masojada Date: 19[th] September 2023

9

Independent auditor’s report to the members of East End Community Foundation For the year ended 31 March 2023

Opinion

We have audited the financial statements of East End Community Foundation (the ‘charitable company’) For the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, and statement of cash flows, the principal accounting policies and the notes to the financial statements. 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:

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 annual report and financial statements, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report and financial statements. 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.

10

Independent auditor’s report to the members of East End Community Foundation For the year ended 31 March 2023

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

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 trustees’ 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:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

11

Independent auditor’s report to the members of East End Community Foundation For the year ended 31 March 2023

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

12

Independent auditor’s report to the members of East End Community Foundation For the year ended 31 March 2023

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.

Gumayel Miah (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

Date: 2 November 2023

13

East End Community Foundation – Registered Company number: 08104415

Statement of financial activities

For the year ended 31 March 2023

Note
Income from:
Donations and legacies
2
Other trading activities
3
Investments
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
•
Grant making
5
•
Other charitable activities
5
Total expenditure
Net income before net gains on investments
Net gains on investments
Net income for the year
7
Transfers between funds
18
Net income and net movements in funds
Total funds brought forward as previously stated
Prior year adjustment
23
Total funds brought forward as restated
Total funds carried forward		 Unrestricted
£
69,483
22,847
388,571
480,901
396,335
254,087
177,870
828,292
(347,391)
(10,657)
(358,048)
292,206
(65,842)
6,756,186
(56,835)
6,699,351
6,633,509		 Restricted
£
1,566,621
-
422,994
1,989,615
1,165
1,626,161
100,822
1,728,148
261,467
-
261,467
(292,413)
(30,946)
3,395,126
56,835
3,451,961
3,421,015		 Endowment
£
25,000
-
-
25,000
-
-
10
10
24,990
(833,614)
(808,624)
207
(808,417)
19,829,133
-
19,829,133
19,020,716		 2023
Total
£
1,661,104
22,847
811,565
2,495,516
397,500
1,880,248
278,702
2,556,450
(60,934)
(844,271)
(905,205)
-
(905,205)
29,980,445
-
29,980,445
29,075,240

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 18 to the financial statements.

A separate summary income and expenditure account has not been prepared as this would simply reflect the movements on the unrestricted and restricted column above.

The accounting policies and notes on pages 18 to 44 form part of these financial statements.

14

East End Community Foundation – Registered Company number: 08104415

Statement of financial activities

For the year ended 31 March 2022

Note
Income from:
Donations and legacies
2
Other trading activities
3
Investments
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
Grant making
5
Other charitable activities
5
Total expenditure
Net income before net gains on investments
Net gains on investments
Net income for the year
7
Transfers between funds 18
Net income and net movements in funds
Total funds brought forward
Total funds carried forward		 Restated
Unrestricted
£
299,286
27,700
254,783
581,769
363,828
262,171
138,263
764,262
(182,493)
849,803
667,310
37,278
704,588
5,994,763
6,699,351		 Restated
Restricted
£
1,476,929
-
416,914
1,893,843
2,929
1,403,060
178,760
1,584,749
309,094
-
309,094
736,907
1,046,001
2,405,960
3,451,961		 Endowment
£
-
-
-
-
-
-
-
-
-
1,288,368
1,288,368
(774,185)
514,183
19,314,950
19,829,133		 2022
Total
£
1,776,215
27,700
671,697
2,475,612
366,757
1,665,231
317,023
2,349,011
126,601
2,138,171
2,264,772
-
2,264,772
27,715,673
29,980,445

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 18 to the financial statements.

A separate summary income and expenditure account has not been prepared as this would simply reflect the movements on the unrestricted and restricted column above.

The accounting policies and notes on pages 18 to 44 form part of these financial statements.

15

East End Community Foundation– Registered Company number: 08104415

Balance sheet

As at 31 March 2023

Note
£
Fixed assets:
Tangible assets
12
Listed investment
13
Cash held in investment
portfolio
20
Current assets:
Debtors
14
175,803
Cash and bank and in hand
20
666,962
842,765
Liabilities:
Creditors: amounts falling
due within one year
15
(453,085)
Net currents assets
Total assets less current
liabilities
Total net assets
The funds of the charity:
Restricted income funds
18
Unrestricted income funds:
Designated funds
4,174,159
General funds
2,459,350
Total unrestricted funds
Endowment funds
Total charity funds		 2023
£
7,398
25,630,547
3,047,615
28,685,560
389,680
29,075,240
29,075,240
3,421,015
6,633,509
19,020,716
29,075,240		 £
92,606
1,614,45
8
1,707,06
4
(527,965)
4,174,159
2,525,192		 2022
£
12,100
26,474,162
2,315,084
28,801,346
1,179,099
29,980,445
29,980,445
3,451,961
6,699,351
19,829,133
29,980,445

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of the financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board of Trustees and signed on its behalf by

Bronek Masojada Chairman and Trustee

Date: 19[th ] September 2023

The notes on pages 18 - 44 form part of these financial statements.

16

East End Community Foundation– Registered Company number: 08104415

Statement of cash flows

For the year ended 31 March 2023

Note
Cash flows from operating activities
Net cash used in operating activities
19
Cash flows from investing activities:
Dividend and interest from investments
Proceeds from sale of investments
Purchase of investments
Net cash provided by investing
activities
Change in cash and cash equivalent in
the year
Cash and cash equivalents at the
beginning of the year
Cash and cash equivalents at the end of
the year
20		 2023
£
£
(1,025,874)
811,565
257,672
(258,328)
810,909
(214,965)
3,929,542
3,714,577		 2022
£
£
(409,264)
671,697
(11,268)
(452,672)
207,757
(201,507)
4,131,049
3,929,542		 2022
£
£
(409,264)
671,697
(11,268)
(452,672)
207,757
(201,507)
4,131,049
3,929,542
(201,507)
4,131,049
3,929,542

The accounting policies and notes on pages 18 to 44 from part of these financial statements.

17

East End Community Foundation

Notes to the financial statements

For the year ended 31 March 2023

1. Principal accounting policies

a) Basis of preparation

EECF is a registered charity, limited by guarantee, in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operation and principal activities are to promote the relief of poverty and sickness of persons within the London Boroughs of Tower Hamlets, Hackney, Newham and City of London. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

c) Going concern

The trustees have considered the working capital requirements of the company. The trustees believes that the company has adequate financial resources to continue in operational existence for the foreseeable future and meet its liabilities and obligations as they fall due for at least the next twelve months. The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

d) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

18

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

e) Donations of gifts, services and facilities

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Gift Aid

Gift Aid is recovered by EECF and third parties on behalf of EECF, on donations from UK taxpayers and is recognised in the accounts when it is received.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Endowment Funds represent those assets which must be held permanently by the charity in line with the donor's wishes.

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, including investment managers fee, as well as the cost of any activities with a fundraising purpose.

Charitable activities includes the costs of delivering services and activities undertaken to further the purposes of the charity and their associated support costs, as well as the payment of grants.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

j)

Allocation of support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

19

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l)

Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Office equipment - over 4 years Computer equipment - over 4 years

The charity is the legal owner of various properties within the East London area which have been offered to third parties under long-lease arrangement at peppercorn rent for the benefit of the local community. It is the trustees' intention to offer these properties to third parties for the benefit of the community for the foreseeable future. As such these properties have not been recognised in these accounts.

The charity is also the legal owner of a property situated in Poplar, currently occupied by a college under a short form lease arrangement. As disclosed within note 22, EECF intends for the property to be redeveloped in the near future as part of a wider regeneration plan for the local area, following which, this property will also be offered for community benefit for the long term. At present, due to fluctuating regeneration plans in the local area, there is significant difficulty in determining a fair value for the site. In addition consent is required from the Greater London Authority before any works may take place. Given the aforementioned, no value has been placed on this property within these accounts.

m)

Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

n)

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

o)

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users.

p)

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

20

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

q) Pensions

The charity provides an auto enrolment pension scheme to staff and contributions are accounted for when they arise.

r) Judgements and key sources of estimation uncertainty

2. Income from donations and legacies

Business
Individuals
Trusts & Foundations
Statutory
Membership Fees
Gift in Kind
Business
Individuals
Trusts & Foundations
Statutory
Membership Fees
Gift in Kind		 Unrestricted
£
42,873
625
-
-
10,985
15,000
69,483
Unrestricted
£
262,423
9,693
-
4,200
7,970
15,000
299,286		 Restricted
£
432,323
82,191
380,577
671,530
-
-
1,566,621
Restricted
£
421,100
42,982
290,182
722,665
-
-
1,476,929		 Endowment
£
25,000
-
-
-
-
-
25,000
Endowment
£
-
-
-
-
-
-
-		 2023
Total
£
500,196
82,816
380,577
671,530
10,985
15,000
1,661,104
2022
Total
£
683,523
52,675
290,182
726,865
7,970
15,000
1,776,215

Gift in Kind represents rent free office accommodation provided by London Borough of Tower Hamlets.

21

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

3. Income from other trading activities

2023
Rental income
Other
2022
Rental income
Other
4.
Income from investments
2023
Bank Interest
Dividends from investments
2022
Bank Interest
Dividends from investments
Unrestricted
£
45
388,526
388,571
Unrestricted
£
78
254,705
254,783		 Unrestricted
£
10,000
12,847
22,847
Unrestricted
£
10,000
17,700
27,700
Restricted
£
-
422,994
422,994
Restricted
£
-
416,914
416,914		 Restricted
£
-
-
-
Restricted
£
-
-
-
Endowment
£
-
-
-
Endowment
£
-
-
-		 Total
£
10,000
12,847
22,847
Total
£
10,000
17,700
27,700
Total
£
45
811,520
811,565
Total
£
78
671,619
671,697

22

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

5. Analysis of expenditure

Staff costs (Note 8)
Investment
manager’s fees
Charitable activities
direct costs
Rent
Marketing and
Publicity
Computer costs
Office supplies
Telephone
Postage
Publications and
subscriptions
Legal and
professional
Audit fee
Insurance
Admin project fee
Freelance workers
Recruitment
Other costs
Support costs
Governance costs
Total expenditure
2023
Total expenditure
2022		 Cost of
raising
funds
£
209,713
58,541
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Charitable activities Charitable activities Governance
costs
£
39,598
-
-
-
-
-
-
-
-
-
48,087
11,875
-
-
-
-
-		 Support
2023
2022
costs
Total
Total
£
£
£
109,221
545,117
448,205
-
58,541
69,651
-
1,726,984
1,414,480
15,000
15,000
15,000
11,815
11,815
8,173
19,053
19,053
11,552
1,402
1,402
3,384
1,431
1,431
4,173
391
391
377
14,024
14,024
12,428
-
48,087
38,287
-
11,875
10,475
8,767
8,767
1,426
-
-
179,276
59,811
59,811
89,522
17,771
17,771
32,195
16,381
16,381
10,407
Grant
making
£
128,585
-
1,626,162
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Other
charitable
activities
£
58,000
-
100,822
-
-
-
-
-
-
-
-
-
-
-
-
-
-
268,254
94,898
34,348		 1,754,747
92,148
33,353		 158,822
88,021
31,859		 99,560
-
(99,560)		 275,067
2,556,450
2,349,011
(275,067)
-
-
-
-
-
397,500 1,880,248 278,702 - -
2,556,450
366,757 1,665,231 317,023 - -
2,349,011

Of the total expenditure, £828,292 was unrestricted (2022: £764,262) and £1,728,248 restricted (2022: £1,584,749).

23

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

6. Grant making Year ended 31 March 2023

S106 Grant Making

S106 Grant Making
Purpose: Supporting activities for residents on the Isle of Dogs
Mudchute Association
Apprenticeship Programme
20 Fenchurch Street Legacy Fund
Purpose: Supporting employment initiatives in Tower Hamlets, Hackney and Newham
Account3
Employment Support
Mouth That Roars
Employment Support
Working Well Trust
Employment Support
Tower Hamlets Council Tackling Poverty Fund
Purpose: Supporting innovative projects and solutions to address inequality and poverty
Circle Collective
Support for Young People
Limehouse Project
Support for Single Mothers
Age UK East London
Support for Older People
Streets of Growth
Support for Young People
Mouth That Roars
Support for Young People
Ocean Regeneration Trust
Support for Older People
EECF Sponsorship Fund
Purpose: Sponsoring events and initiatives in EECF’s area of benefit
Enact Equality
Sponsorship Fund
Isle of Dogs Grants Chest
Purpose: Supporting community provision on the Isle of Dogs
Neighbours in Poplar
Seaside Trips
Island House Community Centre
SKILLS: ESOL, IT and Employment Project
The Dockland Settlements
Exchange Project
The Tower Hamlets Volunteer
Police Cadets
Sports Camp: Local Young People
Canaan Project
Young Women's Project
Half Moon Young People's
Theatre
Creative Play
SPLASH
Employment Project
Heritage Charity London
Football & Arts Club
Will Crooks Tenants and Residents
Association
Nutrition meals class
St Paul's Arts Trust
Capital Costs for New Lift
Circle Collective
Set Up Costs for Canary Wharf Centre
Beyond The Bias
Kids who Code		 30,000
30,000
11,500
11,500
11,500
34,500
16,000
14,000
14,000
18,000
10,000
18,000
90,000
5,000
5,000
1,200
10,000
9,000
7,000
10,000
6,570
10,000
6,500
4,700
5,030
10,000
10,000
90,000

24

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Tower Hamlets Council Community COVID Vaccine Fund

Purpose: To support the delivery of activities raising awareness around Covid‐19 Test and Trace and
vaccinations
Age UK East London Promotion of COVID Vaccine 10,000
Film Skool Deluxe Promotion of COVID Vaccine 9,630
ICM Foundation CIC Promotion of COVID Vaccine 10,000
East London Advanced Promotion of COVID Vaccine 20,000
Technology Training (ELATT)
Social Action For Health Promotion of COVID Vaccine 10,000
Support When It Matters (SWIM) Promotion of COVID Vaccine 15,218
Stifford Centre Promotion of COVID Vaccine 15,152
90,000
Tower Hamlets Council Small Grants Fund
Purpose: Supporting activities that will make a positive difference to the lives of local residents
Purple Moon Drama Project Costs 5,000
Stepney Community Trust Project Costs 4,906
Vallance Community Sports Project Costs 5,000
Association
True You Today Project Costs 4,950
Isle of Dogs Bangladeshi IoD Bangladeshi Pensioners Club 5,000
Association and Cultural Centre
The Bangladesh Youth Movement Social & Community Development Initiative 5,000
(BYM)
St Peters Community Wellbeing Project Costs 5,000
Projects
Rainbow Film Society Project Costs 5,000
Island House Community Centre Mind, Body & Spirit Project Costs 5,000
St Andrews Youth Development Project Costs 4,600
Trust
Coffee Afrik CIC Growth, Resilience and Recovery 5,000
Eastside Centre Ltd Pensioner Club 5,000
Sunny Jar Eco Hub Chrisp St BYO Bags 4,968
Grand Union Music Theatre Project Costs 5,000
Udichi Shilpi Gosthi Project Costs 4,000
YourStance Project Costs 4,200
The Blair Academy Time to dance - Tower Hamlets 4,270
Kayd Somali Arts and Culture Kayd Somali Arts and Culture 5,000
Platform Cricket Tower Hamlets Platform Cricket Hub 4,500
The New Black Film Collective The New Black Film Collective 5,000
The Power Movement The Power Movement Organisation 3,500
Organisation
Sisters In Business My business start up 4,000
ASRA Club Intergenerational communities 4,491
St Patricks Church Pensioners Tea Party for Midsummer 1,000

25

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

St Patricks Church Over 50'S Bingo group 530
Al-Huda FC Somali Youth Engagement 5,000
Toyhouse Libraries Building Early Connections 3,797
Fast Fashion Therapy Community Clothes Mending 4,870
United Arts London Black History Month Events 4,299
Blossom Project Blossom Together Year Three 4,986
Bubble Club Inclusive Events 1,914
Gossip Projects Limited Gossip Projects Limited 3,000
Eastside Youth Academy Eastside Youth Academy 500
Babel Theatre Mental Health Support for Men 5,000
London Jaguars Community Womens Only Fitness and Nutrition Programme 5,000
Association
Bromley by Bow Community Made in Bromley by Bow 3,150
Organisation
Theatreship CIC Hear Here 4,740
The Tower Hamlets Volunteer Duke of Edinburgh Award Scheme 5,000
Police Cadets
InCommon Foundation Connecting Generations in Stepney 5,000
Canaan Project Canaan Project 5,000
Green Candle Dance Company Remember 2 Dance 5,000
Olive Tree Education Elderly Project 4,999
Trapped in Zone One Black History Month: Wapping Mural 4,986
AIP Community Music and mental health 5,000
Woodwork for Wellbeing Woodwork for Wellbeing 4,256
Youth In Sport Estate-based Engagement 3,540
The Geezers Club Activities for the Elderly 500
Cranbrook Community Food The Community Global Food Project 9,520
Garden
Young News Women health and learning skill 4,780
The Shadwell Community Project Our Time 4,961
Artburst Lockdown Babies at Toyhouse 5,000
Canary Wharf Football Academy Football on the Island 4,978
PTriple CiC Digital Project Costs 4,000
Eat Club Partnership in action - Eat Club in Tower Hamlets 5,000
Real Crowd Noise CIC Art Is For All 1,470
Jesus Hospital Estate Residents Freedom Pass Group 2,000
Association
Cycle Sisters Project Costs 5,000
East London Music Group Matchgirls Strike Performance 4,963
The Laurie Laken Way Schools Laurie Laken Community Project 4,910
Project
SPLASH Arts Art, Craft and Sewing for Women 5,620
British Bangladeshi Poetry Translation Circle 2.0 4,000
Collective

26

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Ocean Regeneration Trust Ocean Women’s Peer Support Group 4,999
Will Crooks Tenants and Residents Sensory play club 4,314
Association
Bubble Club Inclusive Events 5,000
The City & East London Community Bereavement Support 4,615
Bereavement Service
True Cadence Coast 2 Coast Masterclass 5,000
Bromley by Bow Community Stroudley Youth Project 5,000
Organisation
Udichi Shilpi Gosthi London Bengali Book Fair 2023 5,000
Canary Wharf Football Academy Girls Safe Space through Basketball 4,995
True You Today Workshops for Survivors 4,990
St Peters Community Wellbeing Bangladeshi Women Intergeneration Club 5,000
Projects
Limehouse Girls Football Club Female Player and Coach Development Programme 5,000
Island House Community Centre Body, Mind & Spirit Project 5,000
Barnes Children's Literature Free Primary Schools Programme 3,825
Festival
Sketch Appeal Time Art Club 4,450
Bags of Taste Bags of Taste Mentored home cooking courses 5,000
Roman Road Trust Tread the Bow Heritage Trail 5,000
Babel Theatre The Orpheus Project 5,000
The Oitij-jo Collective Petticoat Lane Community Festival 5,938
British Bangladeshi Fashion Connected Creative Communities 5,000
Council
Emmott Close Senior Citizens Club Rise and Sunshine 1,000
359,780
Tower Hamlets Council Small Grants Fund: Access & Participation
Purpose: Supporting organisations to facilitate improved access to mainstream services by BAME
residents
Wapping Bangladesh Association Wapping Community Access Point 4,984
Coffee Afrik Project Costs 14,300
Olive Tree Education (OTE) BME female A & E Project 5,000
24,284
Tower Hamlets Council Small Grants Fund: Cohesion Events
Purpose: Supporting community cohesion and connecting communities
Knock The Door Down Community Theatre Experience 3,985
London Jaguars Community Jaguars Health & Wellness Festival 4,840
Association
8,825

27

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Tower Hamlets Council Small Grants Fund: Celebration Events

Purpose: Supporting community celebration events

Swadhinata Trust
Coronation Celebration Event
Bromley by Bow Community
Organisation
Coronation Celebration Event
London Sportif
Coronation Celebration Event
Neighbours in Poplar
Coronation Celebration Event
Look Ahead Care, Support and
Housing
Coronation Celebration Event
Young at Heart Club
Coronation Celebration Event
Osmani Trust
Coronation Celebration Event
Vallance Community Sports
Association
Coronation Celebration Event
Leaders in Community
Coronation Celebration Event
St Dunstans & All Saints, Stepney
PCC
Coronation Celebration Event
Bygrove Primary School
Coronation Celebration Event
Jesuit Refugee Service
Coronation Celebration Event
Wapping Coronation Party
Coronation Celebration Event
Patriot Square and Mayfield
House
Coronation Celebration Event
Lincoln Area Regeneration Group
Coronation Celebration Event
Wapping Bangladesh Association
Coronation Celebration Event
Cyprus Area Project Panel (CAPP)
Coronation Celebration Event
Friends of Columbia
Coronation Celebration Event
Canary Wharf Football Academy
Coronation Celebration Event
Ocean Regeneration Trust
Coronation Celebration Event
The Power Movement
Organisation
Jubilee Celebration Event
Dockland Settlements
Jubilee Celebration Event		 500
440
500
500
500
355
500
500
500
500
500
500
500
500
500
500
500
500
500
495
500
500
10,790

Tower Hamlets Council Small Grants Fund: Loneliness

Purpose: Supporting initiatives to reduce the impact of loneliness and social isolation on residents

Island House Craft Club Craft Club/Day Trips 800
Skillspool Training Connect Up 4,488
Thames Bengali Association Thames Families Together 5,000
Ocean Regeneration Trust Ocean Walkers & Cycling Hub 4,976
Expressions Community Arts Arts 4 All 5,000
Emmott Close Senior Citizens Club Golden Age 4,940
SAMA Academy Ltd Coffee Mornings 4,900
The Yoga For Life Project CIC Long Covid Virtual Wellbeing Programme 5,000
Beyond Sight Loss Relieving Loneliness Project 4,000

28

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Christ Apostolic Church Vineyard Community Support 4,500
of Comfort
Simple Gifts Community Support 4,000
Olive Tree Education (OTE) Loneliness Project 4,000
51,604
Tower Hamlets Council Small Grants Fund: Older People's Services
Purpose: Provision of services for older people from Black, Asian and minority ethnic communities
The Ensign Youth Club Community Support for Older People 14,995
Weavers Community Forum Community Support for Older People 14,990
Aishah Help Community Support for Older People 15,000
Dorset Community Association Community Support for Older People 13,040
Wapping Bangladesh Association Community Support for Older People 14,418
Vallance Community Sports Community Support for Older People 13,534
Association
The Bangladesh Youth Movement Community Support for Older People 14,033
(BYM)
100,010
London Dock Community Fund
Purpose: Summer holiday provision for children and young people in Shadwell and St Katherine's and
Wapping
Platform Cricket Summer Activities for Young People 3,000
Newark Youth London Summer Activities for Young People 3,500
Pollyanna Training Theatre Summer Activities for Young People 2,200
E1 Community Gardeners Summer Activities for Young People 500
SocietyLinks Tower Hamlets Summer Activities for Young People 3,500
Trapped in Zone One Summer Activities for Young People 3,500
Wapping High School Summer Activities for Young People 3,500
Wapping Coffee Club Summer Activities for Young People 480
Shadwell Basin Outdoor Activity Summer Activities for Young People 2,505
Centre
Tower Hamlets Education Summer Activities for Young People 465
Business Partnership
Cable Street Community Gardens Summer Activities for Young People 500
Purple Moon Drama Facilitation Training For Young People At Christian 3,350
Street Community Centre
27,000
Newham Giving
Purpose: Positive holiday provision for children and young people in Newham
Bonny Downs Community Summer Activities for Young People 8,500
Association
Aston Mansfield Summer Activities for Young People 9,000
Fight for Peace Summer Activities for Young People 9,000
Newham Community Renewal Summer Activities for Young People 6,561
Programme
Capital Kids Cricket Summer Activities for Young People 8,500
Ambition, Aspire, Achieve (AAA) Summer Activities for Young People 8,500

29

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Carpenters and Docklands Centre
Summer Activities for Young People
Beckton Skills Centre
Summer Activities for Young People
Elevated Aspirations
Summer Activities for Young People
Ambition, Aspire, Achieve (AAA)
Summer Activities for Young People
West Silvertown Village
Community Foundation
Summer Activities for Young People		 9,000
8,470
9,000
4,500
8,963
89,994

Poplar HARCA Fund

Purpose: Supporting initiatives that improve the lives of communities living in and around Poplar HARCA's estates

Teviot Action Group
Unity Club
LEMA (Lansbury Estate Muslim
Association)
Lansbury Estate Get-together
Burdett FC
Community Projects Grant
Burdett FC
Core Costs
First Love Foundation
Core Costs		 10,000
2,000
13,000
40,000
20,000
85,000

Societe Generale UK Foundation Fund

Purpose: Supporting young people’s development and access to education and employment through sports, arts and culture

Cardboard Citizens
Skills and Employment for Young People
VOYAGE
Skills and Employment for Young People
Limehouse Boxing Academy
Skills and Employment for Young People
You Make It
Skills and Employment for Young People
YOH
Skills and Employment for Young People
Laburnum Boat Club
Skills and Employment for Young People
Empire Fighting Chance
Skills and Employment for Young People
Bonny Downs Community
Association
Skills and Employment for Young People
Social Ark
Skills and Employment for Young People		 23,500
10,000
10,000
10,000
23,500
10,000
10,000
10,000
10,000
117,000

EECF Life Chances

Addressing EECF Strategic Goals of improving well-being and employment opportunities of young people, Addressing EECF Strategic Goals of improving well-being and employment opportunities of young people, Addressing EECF Strategic Goals of improving well-being and employment opportunities of young people,
tackling pensioner poverty and promoting digital inclusion
Neighbours in Poplar Capital Costs for Minibus 20,000
Neighbours in Poplar Tackling Pensioner Poverty 20,000
East London Cares Tackling Pensioner Poverty 12,289
Toynbee Hall Tackling Pensioner Poverty 20,000
Island Advice Centre Tackling Pensioner Poverty 30,606
Ocean Regeneration Trust Connection Cafe 5,989
Engage Here Tea & Tech 5,380
The People Speak The Digital Apprentice 6,000
Bede Community Events Tea and Tech 2,172
Aishah Help Community Reconnect 6,000
Babel Theatre IT STARTS WITH US Lunch Club
Island House Community Centre SKILLS (Seniors) 5,760

30

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Newham New Deal Partnership @online club: Digital skills for health and wellbeing 5,945
Bonny Downs Community Youth Employment Support 30,000
Association
Poplar HARCA Ltd Youth Employment Support 30,000
Fight for Peace Youth Employment Support 30,000
Circle Collective Youth Employment Support 30,000
VOYAGE Youth Employment Support 30,000
295,341
Life Chances - Housing Association Consortium
Purpose: Projects providing support residents within and around social housing estates in Tower Hamlets
AIP Community Beyond the Curriculum 3,000
Clean Slate Training & Money Skills Training 3,500
Employment
The Bow Foodbank Bow Foodbank 2,700
Trapped in Zone One Creative Island 3,000
East India Over 50's Consortium Link In Men-only 3,000
Lincoln Area Regeneration Group Mindful Mess Festival 2022 3,000
Social Organisation for Unity and Blackwall & Cubitt Town Youth Provision 3,000
Leisure (SOUL)
First Love Foundation Employability Programme 3,000
SocietyLinks Tower Hamlets Pre-ESOL & IT 2,808
Wapping Youth FC Whistling to Work 3,000
Film Skool Deluxe Film Skool Deluxe 2,996
The Bow Foodbank Operational Costs 700
East India Over 50's Consortium Link In Men Only 500
Social Organisation for Unity and Blackwall & Cubitt Town Youth Provision 500
Leisure (S.O.U.L)
AIP Community Beyond the Curriculum 500
35,204
Ukrainian Refugee Support Fund
Purpose: Supporting Ukrainian refugees fleeing war and settling in the UK
Breaking Barriers Support for Ukrainian Refugees 10,000
Jesuit Refugee Service Support for Ukrainian Refugees 10,000
Newham Community Renewal Support for Ukrainian Refugees 9,500
Programme
Shpresa Programme Support for Ukrainian Refugees 9,000
Xenia Support for Ukrainian Refugees 10,000
Refugee and Migrant Forum of Support for Ukrainian Refugees 10,000
Essex and London (RAMFEL)
58,500
UK Community Foundation Communities In Crisis
Purpose: Supporting grassroots organisations and their communities through the cost-of-living crisis
Burdett FC Core Costs and Provision of Emergency Support 1,000
Somali Senior Citizens Club Core Costs and Provision of Emergency Support 1,000
Idia's Community Kitchen Core Costs and Provision of Emergency Support 2,700
Children with Voices Core Costs and Provision of Emergency Support 1,000
St John the Evangelist Core Costs and Provision of Emergency Support 1,000
Brownswood Park
Bonny Downs Community Core Costs and Provision of Emergency Support 2,830
Association

31

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Chinese Association of Tower
Hamlets
Core Costs and Provision of Emergency Support
The Dockland Settlements
Core Costs and Provision of Emergency Support
Ananda Marga Universal Relief
Team (AMURT) UK
Core Costs and Provision of Emergency Support
Aishah Help
Core Costs and Provision of Emergency Support
The Bow Foodbank
Core Costs and Provision of Emergency Support
H.O.P.E.
Core Costs and Provision of Emergency Support
Neighbours in Poplar
Core Costs and Provision of Emergency Support
Total Grants Awarded		 1,000
2,700
1,000
1,000
2,700
2,700
2,700
23,330
1,626,162

32

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

7. Net (expenditure)/income for the year

This is stated after charging:

2023 2022
£ £
Depreciation 4,702 1,961
Auditors' remuneration:
Audit 11,875 10,475
Other services - 3,300

8. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Staff costs were as follows:

Salaries and wages
Social security costs
Employer’s contribution to auto enrolment pension schemes		 2023
£
473,534
45,541
26,044
545,119		 2022
£
392,531
34,374
21,300
448,205

The following number of employees received employee benefits (excluding employer pension costs) during the year between:

2023 2022
No. No.
£60,000 - £70,000 1 -
£70,000 - £80,000 - 1
£80,001 - £90,000 1 -

The total employee benefits including pension contributions of the key management personnel were £237,701 (2022: £185,476). The key management personnel comprise the trustees and the senior management team, who have the authority and responsibility for planning, directing and controlling the activities of the charity, under the guidance of the trustees.

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

Trustees did not claim reimbursement of expenses during the year (2022: £nil)

33

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

9. Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Raising funds
Grant Making
Other Charitable Activities
Governance
Support		 2023
No.
3.7
2.9
1.8
0.6
4.6
13.6		 2022
No.
4.2
3.4
1.8
1.3
1.5
12.2

10. Related party transactions

The following trustees represent organisations that donated funds to EECF during the financial year. (All amounts pledged were received in full during the financial year and there were no unsettled amounted at the start or the end of the year).

Name of the trustees
Name of the trustees’ group
Howard Dawber
Canary Wharf Group
Rick Watson
AFME
James Wright / Laurence Everitt
Northern Trust
Jim MacHale
Clifford Chance
Vicky Clark
London Borough of Tower Hamlets		 Donation value
2023
2022
£
£
-
4,750
3,050
2,550
33,950
30,450
550
550
286,763
565,545

A number of trustees also make personal donations directly to the charity totalling £13,465 (2022 £4,851).

The following trustees are associated with organisations that have received financial support from EECF during the financial year. The conflicted trustees have not participated in the decisions making processing relation to these awards. (All amounts awarded were paid in full during the financial year and there were no unsettled amounted at the start or the end of the year).

Name of the trustees
Name of the trustees’ group
Alkhad Ali/Sister Christine Frost
Neighbours in Poplar
Alkhad Ali/Sister Christine Frost
SPLASH
Shah Rahman
Limehouse Boxing Academy
Babu Bhattacharjee
Poplar HARCA
Jeremy Fraser
Aston Mansfield		 Donation value
2023
2022
£
£
56,762
12,362
16,120
500
32,900
22,900
30,000
-
9,000
-

*Sister Christine Frost resigned in November 2021

One of EECF’s freehold properties is on a short-term rolling lease and offers a redevelopment opportunity. Focused discussions are ongoing regarding the future use of the site. The following trustee was excluded from these discussions due to the potential for conflicting interest.

Vicky Clark

London Borough of Tower Hamlets

There were no other related party transactions during the period of report.

34

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

11. Taxation

EECF is a registered charity and therefore not liable to income or corporation tax on income derived from its charitable activities as it falls within the various exemptions to registered charities.

12. Tangible fixed assets

2023
Cost
At the start of the year
At the end of the year
Depreciation
At the start of the year
Charge for the year
At the end of the year
Net book value
At the end of the year
At the start of the year
All of the above assets are used for charitable purposes.
13.
Listed investments
Market value at the start of the year
Additions at cost
Disposal proceeds
Gains and losses on revaluation and disposals
Market value at the end of the year
13a. Analysis of investments
Overseas Equities
UK Equities
Fixed Income
Infrastructure & Operating
Property
Other
Total		 Unrestricted
£
22,698		 Unrestricted
£
22,698		 Restricted
£
1,148		 Total
£
23,846
22,698 1,148 23,846
11,056
4,438		 690
264		 11,746
4,702
15,494
7,204		 954
194		 16,448
7,398
11,642 458 12,100
2022
£
23,885,506
452,672
-
2,135,984
26,474,162
2022
£
17,007,118
3,195,373
1,494,908
1,582,032
754,787
2,439,944
26,474,162

35

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

14. Debtors

Trade debtors
Prepayment and other debtors
Accrued income		 2023
£
95,789
14,367
65,647
175,803		 2022
£
47,442
10,164
35,000
92,606

15. Creditors: amounts falling due within one year

Grants payable
Trade and other creditors
Deferred Income
Taxation and social security
Accruals		 2023
£
333,748
23,174
66,370
13,077
16,716
453,085		 2022
£
502,630
2,152
-
9,408
13,775
527,965

Deferred income relates to funding where the donor has specified in the funding agreement that the income is in relation to a future period and the funds should not be expended until that time. It also includes the value of any rental income received in advance.

Movements on deferred income during the year were as follows:

Balance brought forward as at 1 April
Amount released to income in the financial year
Amounts received and deferred to future periods.
Balance carried forward to next financial year		 2023
£
-
-
66,370
66,370		 2022
£
10,000
(10,000)
-
-

16. Pension scheme

EECF operates an Auto Enrolment Pension Plan from 1 May 2018 staging date, which benefits all members of staff. EECF total contribution to the scheme during the year, of £26,044 (2022: £21,300).

36

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

17. Analysis of net assets between funds

2023
Tangible fixed assets
Investments
Net current assets
2022
Tangible fixed assets
Investments
Net current assets		 General
Unrestricted

£
7,398
6,236,431
389,680
6,633,509
General
Unrestricted

£
12,100
5,564,985
1,179,101
6,756,186		 Endowment
£
-
19,020,716
-
19,020,716
Endowment
£
-
19,829,133
-
19,829,133		 Restricted
£
-
3,421,015
-
3,421,015
Restricted
£
-
3,395,126
-
3,395,126		 Total
funds
£
7,398
28,678,162
389,680
29,075,240
Total
funds
£
12,100
28,789,244
1,179,101
29,980,445

37

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

**18. ** Movements in funds
At the start Income Expenditure Gains/ Transfers At the end of
of the year (losses) the year
£ £ £ £ £ £
Restricted funds:
Millwall Park 96,311 19,996 - - - 116,307
Grassroots Tower Hamlets 10,356 - - - (10,356) -
Grassroots Newham 75,360 - - - (75,360) -
Grassroots Hackney 65,435 - - - (65,435) -
Grassroots City 3,774 593 - - - 4,367
Evening Standard Dispossessed 41,927 7,668 (1,165) - (40,763) 7,667
Elders Fund 40,573 18,320 - - (18,321) 40,572
Peter Wade Memorial Fund 6,822 1,985 - - (682) 8,125
Linklaters Fund 7,786 3,508 - - (11,294) -
20 Fenchurch Street 34,705 1,053 (34,739) - (74) 945
EECF Sponsorship Fund 7,700 - (5,000) - - 2,700
Philanthropy Club Endowment 42 2,211 - - (2,253) -
EECF Hackney 170,902 - - - (170,902) -
Designated Fund Newham 10,313 - - - (10,313) -
Designated Fund Tower Hamlets 67,879 - - - (67,879) -
Bags of Taste 7,733 27,763 (10,962) - (1,468) 23,066
S106 Grant Making 726,420 - (30,000) - (33,000) 663,420
Corporate Volunteering - 2,473 (2,150) - - 323
Grant making
Summer Programme 1,960 - - - (1,960) -
Societe Generale UK Foundation - 130,000 (117,000) - (13,000) -
Tower Hamlets Grants Chest 92,701 88,633 - - 54,330 235,664
Fund for Hackney 253,191 98,255 - - 86,122 437,568
Isle of Dogs Grants Chest 104,647 106,743 (90,000) - (2,540) 118,850
Newham Giving 125,189 86,619 (89,994) - 20,228 142,042
London Dock Community Fund 27,000 30,000 (27,000) - (3,000) 27,000
Philanthropy Club Grant Making 50,781 4,455 - - (443) 54,793
Vital Grants 75,303 - - - - 75,303
Millwall Capital Project 100,000 - - - - 100,000
Tower Hamlets Giving 41,527 - (1,340) - (40,187) -
LBTH Tackling Poverty Fund - 100,800 (90,000) - (10,800) -
Marshall Bailey Fund 2,131 - - - - 2,131
Tower Hamlets Council Small Grants -
Fund 130,503 464,603
(555,293)		 (39,603) 210
Life Chances 935,841 430,798
(381,281)		 - 189,599 1,174,957
Arts Council England - 1,040
-		 - (1,040) -
Life Chances Housing Association
Consortium 11,032 20,000
(35,204)		 - 5,386 1,214

38

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

At the start Income Expenditure Gains/ Transfers At the end of
of the year (losses) the year
£ £ £ £ £ £
Grant making (continued)
LBTH COVID Vaccine Programme - 100,000 (90,000) - (10,000) -
Masonic Charitable Foundation
Ukraine Refugee Support Fund - 65,000 (58,500) - (6,500) -
UKCF Communities in Crisis - 28,039 (23,330) - (1,682) 3,027
Sucden Financial Community Fund - 50,000 - - - 50,000
Poplar Harca Fund 5,159 100,000 (85,000) - (2,750) 17,409
-
In House Projects
Island Exchange 10,080 60 - - - 10,140
Docklands 50+ 37,781 (1,000) (190) - (6,473) 30,118
General
St Matthias Church 73,097 - - - - 73,097
Total restricted funds 3,451,961 1,989,615 (1,728,148) - (292,413) 3,421,015
Endowment Funds
Education & Training 1,446,354 - - (54,732) - 1,391,622
Employment and Training (THTF) 182,572 - - (6,909) - 175,663
Millwall Park 714,782 - - (27,048) - 687,734
Stoneyard Lane Leisure 971,959 - - (36,780) (500) 934,679
Main endowment fund 3,726,735 - - (213,050) - 3,513,685
LDDC Community Grants 2,369,117 - - (89,650) - 2,279,467
Grassroots Tower Hamlets 449,161 - - (16,997) - 432,164
Grassroots Newham 372,548 - - (14,098) - 358,450
Grassroots Hackney 306,054 - - (11,581) - 294,473
Grassroots City 21,207 - - (802) - 20,405
Evening Standard Dispossessed 284,858 - (10) (22,017) (1,165) 261,666
Linklaters 125,396 - - (4,745) - 120,651
Elders Endowment 435,834 - - (16,492) - 419,342
Peter Wade Memorial 70,966 - - (2,685 - 68,281
20 Fenchurch Street Legacy Fund 34,212 - - (1,294) 62 32,980
Hackney 3,206,010 - - (121,319) - 3,084,691
Tower Hamlets 2,536,380 - - (95,980) - 2,440,400
Newham 2,509,137 - - (94,949) - 2,414,188
Philanthropy Club 65,851 - - (2,486) 1,810 65,175
Birketts - 25,000 - - - 25,000
Total endowment funds 19,829,133 25,000 (10) (833,614) 207 19,020,716

39

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Unrestricted funds:
Designated funds:
Grant Making
Endowment Building Incentive
Capital Investment
General funds
Ropemakers Fund
Stoneyard Lane
Unrestricted fund
Total unrestricted funds
Total funds		 At the start
of the year
Income
Expenditure
Gains/
(losses)
Transfers
At the end of
the year
£
£
£
£
£
£
519,122
-
-
-
-
519,122
1,155,037
-
-
-
-
1,155,037
2,500,000
-
-
-
-
2,500,000
4,174,159
-
-
-
-
4,174,159
421,201
8,845
-
(11,964)
-
418,082
75,890
44,836
(7,644)
-
-
113,082
2,028,101
427,220
(820,648)
1,307
292,206
1,928,186
6,699,351
480,901
(828,292)
(10,657)
292,206
6,633,509
29,980,445
2,495,516
(2,556,450)
(844,271)
-
29,075,240

Purposes of restricted funds

Isle of Dogs Grants Chest. Income from the LDDC Community Grants and the LDDC Education & Training endowments are used to form this fund along with individual donations.

Tower Hamlets Grants Chest. Income from the Employment & Training and Grassroots Tower Hamlets endowments.

Fund for Hackney. Income from EECF’s Community First and Grassroots Hackney endowments, and other small donations for Hackney form this fund.

Newham Giving. Income from EECF’s Community First and Grassroots Newham endowments, Berwin Cave Leighton & Paisner (BCLP), Northern Trust and other individual donations are used to form this fund.

Philanthropy Club. Income from the Philanthropy Club members to benefit the local community. 50% of annual donation is committed to the Club’s endowment

Grassroots City. Income from the Grassroots City Endowment Fund is available to fund provision that benefits the local community in the City area of London.

Millwall Park. Income from the Millwall Park Endowment Fund is available to fund provision that benefits the local community in the Millwall Park area on the Isle of Dogs (Tower Hamlets).

Poplar Harca Fund. Poplar Harca’s fund is used to deliver a grants programme in the Tower Hamlets wards of Poplar, Lansbury, Mile End, Bromley South and Bromley North, as directed by the donor.

Income from the Evening Standard Dispossessed Fund is changeable and directed by the Evening Standard.

40

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Isle of Dogs Summer Programme . This long standing programme is funded through the income raised by runners awarded a London Marathon Golden Bond place.

London Dock Community Fund – St George. The developer established this fund to support community activities close its development in Wapping, Tower Hamlets. The Fund specifically supports the wards of St Katharine’s & Wapping and Shadwell.

20 Fenchurch Street Legacy Fund. This fund was established by the 20 Fenchurch Street Partnership and is a vehicle for the buildings tenants and service providers to support projects in the boroughs of Tower Hamlets, Hackney and Newham. The focus has been on addressing unemployment.

Birketts Fund. Established by Birketts LLP in 2022, this is a donor-advised endowed fund to address the philanthropic priorities of the firm’s London office.

Vital Grants. Established by EECF from its unrestricted resources to address community cohesion in Tower Hamlets as identified by the community survey undertaken as part of our Vital Signs research.

Societe Generale UK Foundation Fund. Established to support young people of Tower Hamlets, Newham and Hackney, improving their educational development, through sport, arts or cultural activities and improving literacy.

Sponsorship Fund . Established by EECF to sponsor local events or initiatives with a strong East End focus or connection that may not naturally fit our typical grant criteria.

S106. This fund is made up of two programmes; Millennium Quarter (MQ) and Riverside South (RS). The fund has been established with Tower Hamlets Council and is ring-fenced to activities serving residents on the Isle of Dogs (MQ) and the Isle of Dogs and South Poplar (RS).

Millwall Park Capital Project. This fund was established using income from the Millwall Park Endowment and is designated for a planned capital project in the park.

Marshall Bailey Fund. This fund is to be used for the allieviation of poverty.

Elders Fund. Support elders activities in Tower Hamlets. Income is from the Elders Endowment, provided by an anonymous donor.

Life Chances . Supporting the most vulnerable people in the east end to recover from the pandemic and supporting lasting change

Life Chances – Housing Association Consortium . Projects providing support residents within and around social housing estates in Tower Hamlets

Arts Council England . For creative and cultural activities as part of the Queen’s Platinum Jubilee celebrations

Ukrainian Refugee Support Fund . Supporting Ukranian refugees fleeing war and settling in the UK

UK Community Foundation Communities In Crisis. Supporting grassroots organisations and their communities through the cost-of-living crisis

Sucden Financial Community Fund . To support grassroots organisations addressing financial literacy, IT skills, energy poverty and food poverty

41

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

Purposes of designated funds

Grant Making – funds set aside by the trustees to top up the grant making funds.

Endowment Building Incentive – funds set aside by the trustees to build new endowment funds and match funds donated from outside organisations for endowments.

Capital Investment – funds set aside for future capital investment by the charity.

Education & Training. The support of education and training project whose aim is to improve the prospect of residents living in the Isle of Dogs to secure employment

Employment & Training. The support education and training projects in Tower Hamlets

Millwall Park . Carrying out improvements to the environment and the provision or improvement of public leisure amenities or in the absence of such need other charitable provision to benefit the community in the Millwall Park area.

Main Endowment Fund. To support EECF’s core costs

LDDC Community Grants . To implement an annual programme of grants for the benefit of the community on the Isle of Dogs

Grassroots Tower Hamlets . To respond to the diverse needs of the communities in Tower Hamlets

Grassroots Newham . To respond to the diverse needs of the communities in Newham

Grassroots Hackney . To respond to the diverse needs of the communities in Hackney

Grassroots City . To respond to the diverse needs of the communities in City of London

Evening Standard Dispossessed . To benefit residents and communities in East London, as directed by the donor

Elders Endowment . To support projects working with older people to reduce isolation and increase involvement in the community across EECF’s area of benefit

Peter Wade Memorial . Community activities in EECF area of benefit, as directed by the donor

20 Fenchurch Street Legacy . For the benefit of communities in EECF’s area of benefit, as directed by the donors

Linklaters . For charitable projects that relate to social action at a local level by way of grant or social investment, as directed by the donor

EECF Hackney. For charitable projects in Hackney that relate to social action at a local level by way of grant or social investment

EECF Tower Hamlets . For charitable projects in Tower Hamlets that relate to social action at a local level by way of grant or social investment

42

East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

EECF Newham . For charitable projects in Newham that relate to social action at a local level by way of grant or social investment . Philanthropy Club. Alleviation of poverty in EECF’s area of benefit

19. Reconciliation of net (expenditure) / income to net cash flow from operating activities

Net (expenditure) / income for the reporting period
(as per the statement of financial activities)
Losses/(gains) on investments
Depreciation
Dividends and interest from investments
Increase in debtors
(Decrease)/increase in creditors
Net cash used in by operating activities		 2023
£
(905,205)
844,271
4,702
(811,565)
(83,197)
(74,880)
(1,025,874)		 2022
£
2,264,772
(2,135,984)
1,961
(671,697)
(15,990)
147,674
(409,264)

20. Analysis of cash and cash equivalents

Cash in hand
Cash held on deposit
Cash held in investment accounts
Total cash and cash equivalents		 At
1 April 2022
£
832,900
781,558
2,315,084
3,929,542		 Cash flows
£
(165,938)
(781,558)
732,531
(214,965)		 Other
changes
£
-
-
-
-		 At
31 March 2023
£
666,962
-
3,047,615
3,714,577

21. Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

22. Properties

The London Docklands Development Corporation, as part of its de-designation transferred the freeholds of numerous properties in the area occupied on long leases at nominal rent. The duty as freeholder is to ensure that the properties continue to be used for community benefit. The opportunity for EECF to financially benefit from these properties remains remote or subject to many contingent matters prior to valuation, therefore no amounts are included in these financial statements. The exception to this is the Workhouse site at Poplar that is on a short term lease and is an area deemed for redevelopment. EECF has a professional team of advisors and having developed a brief they marketed the redevelopment opportunity for this site in the summer of 2019. Applicants were shortlisted in early 2022 which led to significant interest from reputable property developers. A preferred development partner was identified and Head of Terms signed. EECF put contract negotiations on hold in July 2023 after receiving a revised financial offer that it deemed unsuitable. EECF will review it position at the close of 2023/24. When a contract is signed and planning permission is secured, the value of the site will be clear and the asset will be brought on to our balance sheet.

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East End Community Foundation

Notes to the financial statements (continued)

For the year ended 31 March 2023

23. Prior Year Adjustment

After the accounts had been published for the prior year, it was found that a number of transactions and transfers between funds had been duplicated in the process of preparing the accounts. These have been rectified by adjusting the opening balances of the affected funds. The overall impact was a reduction in unrestricted funds and an increase in restricted funds of £56,835.

Fund Balances at 1 April 2022 as
previously stated
Prior year restatement
Being reallocation of expenditure
Fund balances at 1 April 2022 as
restated		 Unrestricted
£
6,756,186
(56,835)
6,699,351		 Restricted
£
3,395,126
56,835
3,451,961		 Endowment
£
19,829,133
-
19,829,133		 Total
£
29,980,445
-
29,980,445

44