2022-12-31-accounts

Annual Report and Accounts: Our Story 2022

Contents

Acknowledgements 3 Financials 37 Equality, diversity, and environment 4 Independent Examiner's Report 38 Introduction 5 Financial Review 39 Mission, vision, values, and SDGs 6 Statement of Financial Position 40 Key successes 8 Balance Sheet 41 Communications, Media, and Events 9 Fund Breakdown (2022) 42 Partnerships 10 Fund Breakdown (2021) 43 4NONPROFITS 11 Governance 44 Dragons Den 12 BAMER HUB 19 AVOCADO+ 21 4YOUTH 27 Tech for Good 29 BonsaïMoney podcast 30 4ENTREPRENEURS 31 (#WorldChangers Entrepreneurship Training) #OperationTransparency 35

Panelists at Reimagining Funding and Finance for BAMER-led Non-Profits during our Dragons Den event in 2022

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Acknowledgements

We’re extremely grateful to receive generous support from our funders. Special thanks to those past and present, including the City Bridge Trust, Co-op Foundation, CommUNITY Barnet, Esmée Fairbairn Foundation, Global Giving, JRSST-CT, London Funders, Making a Difference Locally, The National Lottery Community Fund, Paul Hamlyn Foundation, The Lions, Tudor Trust, UK Community Foundation, and Youth Futures Foundation.

We'd also like to thank our wonderful Trustees, Alezandra Udueni, Dilys Barnett, Edwin Viegas, and Frédéric JeanBaptiste.

We thank our community of amazing entrepreneurs, non-profits, and young people. Nothing we do could happen without them.

Our community of volunteers supports every area of work we do, and adds incalculable value on a daily basis. We are deeply indebted to them.

Reference and administrative details

The legal and operating name of the Charity is Money4YOU. The Charity is registered in England with the Charity Commission, Charity number 1157549. The Charity operates as a Charitable Incorporated Organisation, was registered on 19 June 2014, and operates in accordance with its Articles of Association. The trustees are all individuals.

Our address is Suite 12 Mill Hill House, 6 The Broadway, London NW7 3LL. Our phone number is [phone], our website is at money4you.org, and our contact email address is [e-mail]. Our handle on all social media platforms is @Money4YOUorg.

Custom catering at Dragons Den 2022.

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Equality and diversity

In keeping with our Equality, Diversity and Inclusion Policy, we embrace and celebrate the diversity of our working, learning, and service delivery environments. We approach employment, volunteering, learning, and service delivery with an equity lens; recognising that everyone is an individual and has specific needs, which we will take reasonable steps to accommodate.

We also aim to ensure that within all areas of work, we prioritise the needs of the underrepresented individuals and groups that we serve.

We are fully committed to equality of opportunity and seek to take positive action to support this whenever possible. We believe that all of this is journey and we are committed to learning, transparency and staying accountable along the way.

Environment

In keeping with our Environmental Policy, Money4YOU is committed to continuously pursuing opportunities to reduce consumption of resources, to avoiding waste and complying with all environmental legislation, regulatory and corporate requirements to protect the environment.

We acknowledge the connection between the climate and other environmental crises and the threat of current and future homelessness, disease, food and water shortages and poverty for millions of people around the world, as well as the major damage being caused to our natural ecosystems.

We therefore recognise our responsibility to reduce our carbon and environmental footprints and formally commit to championing environmentally responsibility to those we serve.

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Introduction

In any year, the challenges voluntary organisations face can seem insurmountable. 2022 was no exception, with stratospheric living costs exacerbating the long impact of the inequalities that were spotlighted and worsened by Covid-19.

And yet, we couldn’t be prouder of the way we have met the challenge this year: launching new initiatives like the AVOCADO+ Lite Executive programme, new accessible resources like our BonsaïBriefs podcast, the high-impact campaign for transparency that built new links across the sector, and training events in Sierra Leone and Uganda reaching even more entrepreneurs than the previous year.

We also celebrated the 10th instalment of Dragons Den, our flagship event for non-profits and grant funders, and distributed £90,000 directly to BAMER-led nonprofits on the night. And with over 570 members in our BAMER HUB online network, we have never been better positioned, along with friends, colleagues, and partners, to face the future.

As we consistently remind ourselves, rain does not fall on one roof alone. So, to everyone who has been with us on this journey through 2022 and beyond: thank you.

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Mission, Vision, and Values

Money4YOU is a UK charity that operates in the UK and overseas. We are on a mission to eradicate the economic inequalities experienced by young people, entrepreneurs, and non-profit organisations, from underrepresented communities. We started out as Money4YOUth in 2014 and evolved to Money4YOU in 2020 to reflect our expanded focus and reach.

We envision a world where no one is poor because of the colour of their skin or their ethnicity.

We value integrity. Money4YOU operates in an open, honest and transparent manner with everyone we work with. We set high service standards and hold ourselves accountable for the quality of our work and the results we achieve.

We love inspiration. We apply creative methods that engage, inspire and motivate those we teach in an environment that fosters innovation and forward thinking. By focusing on their specific needs, we provide tailored solutions that are developed in collaboration with our stakeholders. This provides authentic and enriched learning experiences for learners, fosters new ways of thinking about their own practices and enlightens them about resources, potential pathways and opportunities.

We work with intelligence. In a rapidly changing world, our interventions start with a clear, accurate and deep understanding of the needs of our service users. With this insight, Money4YOU is committed to collaboratively developing and implementing high quality solutions. These are differentiated and impactful enough to ensure that they do not create dependence but instead enables them to be co-owners and true architects of their own change. Our overarching aim is to provide Excellent, Ethical and Evidence-based Empowerment solutions.

We need interaction. In our work, the strength of collaboration is about “working cooperatively with others to work towards common goals.” In practical terms, this means that we actively seek opportunities to build partnerships and encourage processes and climates where participative decision-making is the norm.

We subscribe to the beautiful South African philosophy of ‘Ubuntu,’ which recognises that we are all bound together in ways that can be invisible to the eye; that there is a oneness to humanity; that we achieve ourselves by sharing ourselves with others, and caring for those around us.

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UN Sustainable Development Goals

Our work aligns principally with three UN Sustainable Development Goals:

1.5 / End poverty in all its forms everywhere. Build the resilience of the poor and those in vulnerable situations and reduce their exposure and vulnerability to climate-related extreme events and other economic, social and environmental shocks and disasters.

4.4 / Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all . By 2030, substantially increase the number of youth and adults who have relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship.

10.3 / Reduce inequality within and among countries . Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard.

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----- Start of picture text -----
75+ hours
234
of specialist one-to-one
training delivered via
participants
AVOCADO+
in #WorldChangers 16.7%
567
Entrepreneurship
BAMER HUB annual event ticket
Training orders
user growth
£90,000
funding disbursed at
75
Dragons Den
signatures on our letter to
the Charity Commission
42
234 episodes
strategic of BonsaïBriefs
570+
partnerships
podcast published
Key Successes
BAMER HUB
1,247 members 2022
podcast plays on
BonsaïMoney
£401,000
successful grant
applications by
AVOCADO+ Fellows in
2022
4,580
service users supported
through AVOCADO+
Fellowship organisations
----- End of picture text -----

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Communications, Media, and Events

Making an impact isn’t just about delivering the work: we also know that our influence on the public conversation around our areas of work matters. These articles mentioned our work in 2022.

Increase charities’ diversity data reporting requirements, Commission told

Civil Society News , 4 July 2022

Charity trustees do not reflect the communities that they serve, says regulator

Civil Society News , 28 September 2022

City Bridge Trust awards £100K grant for Money4YOU’s 10th anniversary Dragon’s Den

UK Fundraising , 4 July 2022

Coalition calls for regulator to add reporting requirements to help address ‘massive diversity problem’

Third Sector , 4 July 2022

Exclusive: Only one BAME candidate may have ever been shortlisted to chair Charity Commission

Charity Times , 10 June 2022

Better diversity data alone may not close pay gap, says Red Cross fundraising lead

Civil Society News , 19 July 2022

Obstacles to digital fundraising success for racial justice organisations addressed in report

UK Fundraising , 10 March 2022

Orlando Fraser among speakers for diversity charity’s Trustee Week events

Charity Times , 5 October 2022

Our events programme continued to be in high demand in 2022, with huge depth and variety producing engagements across all three of our core audiences (young people, non-profits, and entrepreneurs).

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Partnerships

Our Programmes Lead, Gillian, presents a talk on BAMER HUB to the CRÉME (Communicating the Race Equality Message Effectively) Project in February 2022.

We are proud to work with our longstanding partners in the BAMER-led VCSE space. We hugely value the support of all our partners and cannot list them all here.

But we'd particularly like to thank African Child in Need Uganda; Association of Environmental Health; BBC Children in Need; City Bridge Trust; City, University of London, School of Science and Technology; Comic Relief Global Majority Fund; CommUNITY Barnet; Community Southwark; Community Watch Initiative Sierra Leone; Emmanuel Development Association Ethiopia; Fundraising Training Ltd; Getting on Board; Google Digital Garage; GrassRoots Web; Hackney CVS; JMB Consulting; Joedy Foundation; Joseph Rowntree Reform Trust; Kingdom Care Orphanage; Literacy and Integral Development; Natural Resources Conservation Network Uganda; New Philanthropy Capital; Paul Hamlyn Foundation; PayPal; Postcode Neighbourhood Trust; Prism the Gift Fund/Childhood Trust; Professional Women; Race on the Agenda; Reach Volunteering; the Co-op Foundation; The Good Trouble; the Runnymede Trust; The Social Innovation Partnership; Transformational Innovation Hub; Trust for London; Trustees Unlimited; Tudor Trust; Twilio; Unique Foundation; United Action for Children; Voice4Change England; and the Youth Futures Foundation.

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4You 4NONPROFITS 11

Events

Why do we run events?

We run events to build networks and make training more accessible, interactive, and fun.

We can’t eradicate inequality without sharing resources and collaborating. Events create long-form, meaningful interactions that might not otherwise happen.

We take a participatory approach to education and training and we use events to enhance interactions.

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£90,000
funding
disbursed
in 2022
130
45
attendees
pitching
applications
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Dragons Den 2022

What is Dragons Den and why does it exist?

We know that small BAMER-led non-profits struggle to connect with grant-makers, and vice-versa. Dragons Den was created in 2012 to address that problem and has run almost every year since.

The 2022 event was the tenth anniversary of Dragons Den and our biggest event yet. Thanks to pro-bono support from Salesforce, we were able to hold it in the Blue Fin building, a spectacular venue on London’s Southbank, where we welcomed over 100 attendees.

We disbursed £90,000 in funding, thanks to a grant from the City Bridge Trust. The grants went to seven organisations, in £20,000, £10,000, and £5,000 awards. 12 organisations, shortlisted from a pool of 45 applicants, pitched to an audience that included their peers in other BAMER-led nonprofits, who then cast a vote for the grant winners that was counted alongside funders’ deliberations, which were then shared with the audience.

Each of the grant winners—Soccology, Da’aro Youth Project, Santé Refugee Mental Health Access, Get Rid Of And Donate, Active Horizons, Lerato Community Initiative, and Fast London—will spend the grant to the benefit of Londoners.

We have now distributed over £300,000 in grants and in-kind gifts at Dragons Den events.

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Dragons Den 2022

Soccology wins a £20,000 grant at Dragons Den 2022.

"Networking with funders is a sphere that grassroots Black and working class led multicultural groups have systematically been excluded from." — Pitcher, Dragons Den 2022

The event included two hours of networking amongst attendees and was attended by representatives from the Leathersellers’ Company, Tudor Trust, City Bridge Trust, Action Funder, CommUNITY Barnet, the National Lottery Heritage Fund, Trust for London, and the Childhood Trust.

We are very grateful to the following organisations for contributing in-kind support through raffle prizes:

Remarkable Partnerships – Bursaries for Black fundraisers

School Of African Languages Limited – Swahili language course and tour of The Africa Centre

Philanthropy Company – Pro-bono fundraising workshop Embrace Finance – Two half-day slots for financial health checks Media Trust – Content Hacks for Charities – Two free places Croydon Supplementary Education Project – Black History, Personal Empowerment and African Cultural Studies Course

Unlimited Vision – Interactive group training on work-life balance SolarAid – Solar lights

RAA Solutions - Champagne Flutes

We’d also like to thank Arts Council England, BBC Children in Need, Comic Relief, CommUNITY Barnet, Edge Fund, Esmeé Fairbairn Foundation, The National Lottery Community Fund, The National Lottery Heritage Fund, Matrix Causes, The Pocressi Initiative, Prism The Gift Fund, Trust for London, The Tudor Trust, and UK Community Foundations for their support at the event over the years.

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Dragons Den 2022

To commemorate the tenth anniversary of the event, we featured a special award-giving ceremony to acknowledge and showcase the inspiring work of some of the outstanding non-profits we work with and amplify the work they do.

Sistah Space won the Integrity Award. The Ubele Initiative won the Intelligence Award. The Black Cultural Archives won the Inspiration Award. Migrants’ Rights Network won the Interaction Award.

Congratulations to all!

Accessibility

For the first time since 2019, Dragons Den took place in person—and this year it was hybrid so that we could join with friends and colleagues from across the country and the world. This year we are grateful for the work of a British Sign Language Interpreter, who helped make the event more accessible.

"This is beneficial for people wanting to clarify their pitch and reach funders in a more personal way, especially those who found barriers from funders who closed their grants at the time." — Pitcher, Dragons Den 2022

The Ubele Initiative wins our Intelligence Award at Dragons Den 2022.

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Dragons Den 2022

We strongly believe in participatory grant-making. Money4YOU has always been a community-led organisation, creating change from the bottom up, and in everything we do we involve our community as equal partners.

Our Dragons Den event emphasises participatory grantmaking in two main ways.

Attendees at each Dragons Den event vote for their favourite pitch, and their votes are given equal weight with funders' deliberations to choose the winners.

Attendees also contribute donations and paid tickets. When dedicated trusts and foundations are the only groups that put resources behind an event, we see a corresponding power imbalance; instead, circulating resources within our community creates a shared purpose and shared power.

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Events for non-profits

#BootCamps

The 2022 #BootCamps programme for AVOCADO+ included seven courses (January-July), with guest speakers including Bill Bruty, James Murphy, Fiona Murray, Marcus Bernard, Kemar Walford, and Segun Olowookere. Each session had 10 attendees on average, making the sessions highly interactive and responsive to participants. We added bid writing, trading and commissioning, and social investment to the course in 2022.

We always talk with participants about what they need, and this year, as in previous years, we found that participants coming into the programme had completed some training in financial management and reporting, but much less in the specialised areas of fundraising that we typically address as part of the AVOCADO+ course.

#BrunchBriefings

We offer #BrunchBriefings to supplement the content for non-profits offered via AVOCADO+, where demand is much higher than we can meet. A wide variety of speakers and topics make #BrunchBriefings an asset to both AVOCADO+ Fellows and the wider non-profit community. Since the start in 2020, the subjects have been largely driven by what our service users tell us they need.

At #BrunchBriefings in 2022 we welcomed guests from ActionFunder, the Leathersellers Company Charitable Fund, Google Digital Garage, the Henry Smith Charity, the National Lottery Community Fund, London Catalyst, and The Fore, with other events on strategic volunteering and the cost-of-living crisis.

308

ticket orders for #BrunchBriefing events

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Events for non-profits

After the course, we found participants had taken huge strides in their self-reported knowledge on key areas of funding and sustainability. The following graphs contrast participants' pre-training self-reported knowledge with their post-training self-reported knowledge.

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Soul Food for Sistahs and other special events

Money4YOU’s work is designed around gender equality, especially in our Youth and Entrepreneurship programmes. With so many leadership spaces still ill-designed for women, we know we cannot eliminate poverty and inequality without an intersectional feminist approach in our work.

Our first Soul Food for Sistahs event took place on International Women’s Day, 8 March 2022, with AmickyCarol Akiwumi FRSA MBE, Liz Pepler MIAB, Lola Owolabi FRSA and . FInstLM, Uchechi Eke, Martha Awojobi

We hosted Soul Food for Sistahs 2 on the UN’s fifth MSME (Micro, Small, and Medium Enterprise) Day, 27 June 2022. It featured four exceptional women entrepreneurs alongside our Founder and CEO, AmickyCarol Akiwumi MBE : Anyi Takem , Life Coach, Cameroon; Guilene Alida E.N. , CEO at Production Enterprise, Cameroon; Koto Brown , Executive Director at Young Women Professionals, Liberia; and Akello Grace Diana , independent social worker and Director at Wasafiri Adventures, Uganda.

The panel at Soul Foor for Sistahs 2.

In December 2022, we hosted an event on Strategic Volunteering to celebrate the International Day of Volunteers, chaired by AmickyCarol Akiwumi MBE , with David and . Osokolo, Willemijn de Bruin, Jay Richardson, Binnie Bintou Cisse, Fiona Murray

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BAMER HUB

What is BAMER HUB?

BAMER HUB is an online space with digital tools and resources customised for BAMER (Black, Asian, Multi-Ethnic & Refugee) non-profit groups. Through it, we curate and deliver content that our service users request. BAMER HUB is modelled on six years of highly successful development and learning from the AVOCADO+ Accelerator Programme.

How has BAMER HUB changed in the past year?

In early 2022 we conducted research with users on how to best improve and update the platform. There were 571 BAMER led non-profits registered on the platform at the end of 2022, compared with 488 on 1st January, and the capacity of the platform itself had to grow to met that demand.

In 2023, BAMER HUB will be migrating to a new platform to offer new features and tools to our growing community. Watch this space!

Over 200 Funding Opportunities were added to BAMER HUB in 2022.

The average website visit duration on BAMER HUB in 2022 was over four and a half minutes—far longer than most websites' average session lengths, and comparable with the top social media platforms. Users spent an average of two minutes on a single page, indicating prolonged engagements with the site's content.

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4:38
Average duration of
a visit to
BAMERHUB.com
17%
year-over-year
user growth
571
BAMER HUB members in
2022
200
Funding
Opportunities
added
----- End of picture text -----

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BAMER HUB

Returning users opened 2,145 website sessions on BAMER HUB, so it appears the average user returned to the site three to four times over the year. However, website analytics cannot recognise people as returning users if they have cleared their browser cookies since the last time they visited the site, so it's likely the real figure is several times higher than this.

One of the most requested features on BAMER HUB is networking—the ability to see other users' profiles, message them directly, and post tips, advice, and questions on a community forum. We're excited to add this feature to the new version of BAMER HUB in 2023 and we believe it will significantly increase engagement and user retention.

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Participants at the first training session with AVOCADO+ 2022-23, in December 2022 in London.

AVOCADO+

What is AVOCADO+ and how is it unique?

AVOCADO+ is the UK’s only Accelerator programme for BAMER (Black, Asian, multiethnic, and refugee)-led charities and social enterprises. It takes six key areas of resilience—financial fitness, operations, impact, leadership, networks, and awareness —as starting points for a one-year intensive course to improve their sustainability.

How is the training delivered?

Participants attend obligatory monthly training sessions over two days. They also work year-round with a consultant who is chosen based on their needs, from a group of experienced third sector professionals, experienced in governance, finance, and income diversification, and in working with BAMER groups.

For the 2021-22 cohort, eight organisations joined the programme and received 68 hours of training and 75 hours of one-to-one support. 99 individuals attended the various workshops, representing 56 BAMER-led organisations.

We would like to thank our 2022 amazing consultants: Hemant Mistry, Hugh Stultz, Kemar Walford, and Veronica Martin, for helping to make the programme a continued success.

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AVOCADO+

Meet some of the organisations in the 2021-22 cohort:

Baila Peru promotes Peruvian culture in the UK through dance, music, acting, poetry, and singing. It was founded in 1988 in London and is a respected group within the Latin American community in the UK.

Black Leaders CIC offers employability and leadership advice to students and professionals in the health and social care industry. It aims to reduce healthcare inequalities by promoting Black leadership in the healthcare system.

Women’s Inclusive Team was founded as the Somali Integration Team in 2004 by five young Somali mothers in Tower Hamlets, with play and stay sessions for mothers and young children twice a week in Mile End and Bethnal Green. The group quickly saw that older girls also needed safe social environments and now organises regular trips and residential stays for BAME girls, including community safety education around domestic violence.

Tooting Graveney Daycare Centre offers day care services for older people, mainly from BAMER communities in the London Borough of Wandsworth, to reduce social isolation. It was established in 1987 and aims especially to address language and cultural barriers to health and social services in these communities.

Black and Minority Ethnic Young People’s Project works in Brighton with young people of colour aged 11 to 25. It offers drop-in sessions with creative activities, multicultural cooking, meals and healthy snacks, as well as access to health, education, and employment information.

“We're a little organization, with only a turnover of £100,000 a year. But this year, guess how much we got? £400,000! Thanks to Kemar, my coach, and the AVOCADO+ team, we've landed the biggest money ever! It was the best programme. If you’ve not been on the AVOCADO+ programme, you must go on it. It’s challenging, but it’ll help you to become sustainable.”

- Yewande, One Community Tilbury

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AVOCADO+

Our community of AVOCADO+ Fellows continued to return positive feedback on the course in 2022. AVOCADO+ is still the only non-profit accelerator programme specialised for BAMER-led non-profits in the UK.

“I love it. For me, it helps with something which I definitely, personally and also the organisation needs, which is to improve the infrastructure, but also I like the delivery. "

- Kevin George, Soccology

“Thank you so much for this fantastic training, it truly helped us to look at how funders view our applications, and how we can improve them. The checklist and other resources provided will definitely be put to good use and used over and over. Gained some fabulous learning and insights into the experience of a funder’s mindset. Thank you so much.”

- Breadline London via Twitter

“My organisation, Active Horizons, has benefitted immensely from your intensive support of capacity building and so much more. I can testify as to how you are such a life saver particularly to BAMER organisations. I can see this investment even making greater strides to other organisations.”

- Yeukai, Active Horizons

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AVOCADO+ participants in 2022.
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AVOCADO+ Lite

The AVOCADO+ Programme offers intensive and comprehensive year-long training, but for some organisations, the intensity is too great. We launched AVOCADO+ Lite Executive as a pilot programme in April 2022 for leaders of BAMER-led nonprofits. The 2022 pilot lasted 10 weeks, delivered through weekly two-hour Zoom sessions. Consultants were available to support the leaders throughout.

The programme began with an induction day and a diagnostic resilience review. Subsequent sessions addressed project design; product development; prospect research; community, events, and volunteer fundraising; commissioning; nonprofit governance and legal structures; fundraising strategy and case for support; applications and bid writing; corporate and major donor fundraising; and accounting and finances.

Less than six months after finishing the AVOCADO+ Lite programme, Lives of Colour, a Gloucester-based organisation working on diversity and inclusion through training, mentorship, and literature, won £15,000 in grant funding from the Summerfield Trust and Gloucestershire Community Foundation. Its income in the previous reporting year was £8,000.

Thurrock African Group had an income of £16,500 before they applied to AVOCADO+ Lite. Less than six months after the programme's end, they won a £50,000 grant from BBC Children in Need to deliver a youth social action project.

The course portal for AVOCADO+ Lite

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AVOCADO+ Lite

Feedback on the programme was generally positive, but a couple of key areas for improvement emerged. When asked whether they would recommend AVOCADO+ Lite to others and whether they would attend future workshops and events, 100% of respondents answered 'Maybe' to both questions and all said their expectations of the course had 'partially' been met.

Strongly disagree Disagree Neutral Agree Strongly agree

In our detailed feedback survey, participants said the programme's contents had been relevant, interesting, wellpresented, practical, and useful. However, about half of participants said the pace, length, and timing had not been ideal.

Timing was intentionally the main difference between our established AVOCADO+ programme and the Lite version, so it will continue to be a priority area for us in refining the new course. A typical response to the survey read: "Loved the course but too intensive for the period I joined as a lot of events were happening at the same time." Pace and intensity became particularly important as we took the programme online, but we are proud to say the programme ran smoothly through remote learning, despite some significant challenges for participants lacking digital resources and infrastructure.

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AVOCADO+ Lite

Other respondents highlighted issues with consultants' capacity. We have found it difficult this year to recruit enough consultants with the specialist knowledge and skills to meet demand on our non-profit programmes. We attribute this partly to a very tight UK labour market and partly to chronic underfunding in the small BAMER-led non-profit sector in this country, which restricts the flow of people through careers in the sector and on to roles as consultants.

We plan to launch further rounds of AVOCADO+ Lite in 2023 and will fold insights from participants into the design of the programme moving forward.

We also found that, like in the main AVOCADO+ programme, many participants needed extra support with time management and digital skills to get through the course. Future iterations of the programme should devote more resources to this background skills training.

We'll also increase group interactions and activities at events, including facilitated discussions and networking with alumni cohorts.

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4You 4YOUTH •PA•fi•y4YIXl•ri O • O r¥ L,L_ klBE | èn•n Miich*H 11 27

4YOUTH

Since 2014, we have been helping children and young people to develop financial literacy and entrepreneurial skills. By focusing on those from more underrepresented communities, we are changing the norm and diversifying wealth for a better world.

BonsaïMoney is the brand name of our 4YOUTH initiative.

Between April and December 2022, @bonsaimoney on Instagram had a reach of 30,746 and gained 99 followers. We typically see over 2,000 interactions with our social media content per year. Our TikTok account launched in July 2022.

Content on our website also proved popular. Our November 2022 blog post on ‘Money Sayings,’ covering some of the material in BonsaiMoney podcasts, now attracts over 1,600 monthly views on average.

We invest some of our Google Ads Grant in BonsaiMoney content: we know that young people are online and frequently perform finance-related searches, so it makes sense for us to appear in those spaces with carefully considered and evidence-backed educational content.

Youth programme audience locations from Instagram

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1,600
monthly views on our
most popular financial
literacy blog post
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Tech for Good

The Tech for Good programme brings together tech professionals, educators, and BAMER-led non-profits to make a real and educational difference in socially responsible technology deployment.

The pilot round ran in late 2020 with eight projects and 31 students in collaboration with City, University of London, School of Science and Technology . Since that pilot, we have run projects with a further 23 students and 10 organisations.

Across two rounds of the programme in 2022, 11 students and five organisations participated. The existing six-week time frame for each iteration has proven too short, so for future iterations, we'll be extending it to 10 weeks.

Like many youth-centred programmes, we found students were likely to drop out when the activities competed for their time with school commitments, and this accounts for the relatively low participation we saw in 2022.

The clear answer to this issue was to integrate the programme with students' courses at their universities, and we're extremely pleased to announce that City, University of London (CUoL) is leading the way in recognising the value our programme adds to the student experience.

The programme is now an integrated experience for students on certain techadjacent courses at CUoL. Mohson Khan, Head of Corporate Relations & Employability (STEM) at City, University of London, said: “As the University of Business, practice and the professions, we understand that studying for a degree is just the beginning of the student’s journey towards a rewarding career. We also know that the best employers look beyond academic qualifications for the attributes and experience needed to hit the ground running.

"At City, we take developing employment prospects so seriously that we embed it into the course. We’re among the first universities working to lay solid foundations for our students’ coming careers, even before they graduate. Our students will acquire valuable experience that will help students stand out and get a head start on their careers. Here in the School of Science & Technology, we are helping our students by partnering with industry experts to support industrial projects. The process involves students working on a solution to a technical challenge with one of our employer partners.”

We're also delighted to announce a collaboration with Engineers Without Borders , which is engaging with its community to encourage STEM professionals to become mentors for the projects.

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BonsaïMoney Podcast

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234 episodes
published
in 2022
1,247
podcast plays in the
latter 9 months of
2022
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Our final event of 2022 was a personal finance panel with four financial education content creators: Kelly McKenzie, Brian Mitchell, Devamsha Gunput, and Bobby Petrov.

Our podcast, BonsaïBriefs , launched on 1st May 2022. We published a new episode every single day from then up to 20th December, and a new series for 2023 launched on 25th January.

From our launch date to the end of 2022, the podcast was played 1,247 times.

Our 10 most popular episodes were 'Learn from Mistakes,' 'Bourse,' 'Inflation,' 'Billing Cycles,' 'Choosing a Savings Account,' 'Gain Control of Money,' 'Cutting Expenses,' 'The Best Things in Life Are Free,' 'Creating a Financial Vision Board,' and 'The Four Uses of Money.'

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4You 4ENTREP 31

4ENTREPRENEURS

What is Money4ENTREPRENEURS?

Our #WorldChangers Entrepreneurship Training (WCET) caters to aspiring and established entrepreneurs in developing countries. We form deep relationships with local partners and carry out repeat engagement to form strong local relationships and enhance education, plus online follow-up engagement.

The comprehensive WCET training covers business development, creativity and innovation, funding and finance, resilience and wellbeing, and transformational leadership. It is delivered in an extensible format, with pedagogical training offered to participants. The extensive three-day training sessions happen in classroom-sized groups to enable quality education at zero cost to participants.

Through the #WorldChangers Entrepreneurship Training (WCET) 234 people received entrepreneurship skills in 2022.

We hosted a training event in Sierra Leone with 143 participants, along with our partner, Community Watch Initiative, in June 2022.

In Uganda in September, we worked with 91 participants, including 51 women, through our partner, African Child in Need.

WCET participants in Uganda in September 2022.

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4ENTREPRENEURS

What do participants say about the programme?

“I have learned to meet customers' expectations more, how to defeat competitors and manage customer expectations and challenges.” - Justin , Sierra Leone

“I have set up several enterprises and have continuously failed and money invested has gone on waste, but through this training of Money4YOU, I have realized and identified the problem area being value proposition and other factors taught at the training.” - Justice , Uganda

“I learnt from the sessions that skill and strategy bring tremendous success. Business without strategy is an illusion! I also learnt how to be confident with the ideas.” - David , Sierra Leone

“I have learnt the need to do good research before starting my business, to grow a business is powered by the amount of creativity you adopt.” - Anita , Sierra Leone

“I have learnt the need to do a comprehensive SWOT analysis of my business so that I will be able to stay ahead of competition.” - Michael , Uganda

143 participants in Sierra Leone

91 participants in Uganda

WCET participants in Sierra Leone in June 2022.

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4ENTREPRENEURS

During our programme in Uganda, a small number of participants had small businesses and a few others had business ideas which, by the end of the programme, had solidified into projects.

The Chief Executive of Bugiri District was present and spoke about several measures to support the development of the District, especially for young people.

How does engagement continue beyond the training days?

We run support groups on WhatsApp for training alumni. At the end of Q4 2022, we had 411 engaged participants.

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WCET participants in Sierra Leone in June 2022.

#OperationTransparency

On 24 February 2022, we launched our #OperationTransparency campaign publicly with an Open Letter to Helen Stephenson, CEO at the Charity Commission.

Within a month, the campaign had been covered by UK Fundraising. Charity So Straight, the Charity Excellence Framework, Manchester BME Network, the Co-op Foundation, Barbara Keeley MP (Shadow Minister for the Arts and Civil Society), and many others publicly announced their support.

In July 2022, we received a grant from JRSST-CT to continue our campaigning work and to add research, knowledge-sharing, and in-person events components.

Revelations from a Freedom of Information Act request we sent as part of the research programme were featured by the Charity Times in June 2022.

A major new report from #OperationTransparency is coming in 2023. Watch this space!

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Money4YOU CEO AmickyCarol Akiwumi MBE at a JRSST-CT grantee event with Voice4Change England Head of Development and Grants, Dr Sharmin Shajahan, in December 2022.

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Campaign events

We ran three campaign events in 2022: Bridging the Data Gap, Earning Trust, and our Reimagining event, which took place at Dragons Den.

51 different individuals attended the webinars. On the panels, we were honoured to be joined by Jane Ide OBE (CEO at ACEVO), Paul Amadi MBE (Chief Supporter Officer at British Red Cross), Maurice Mcleod (CEO at ROTA), Martha Awojobi (Director at JMB Consulting), Malcolm John (Founder at Action for Trustee Racial Diversity), Penny Wilson (CEO at Getting on Board), Kunle Olulode MBE (Director at Voice4Change England), Professor Daniel King (Nottingham Trent University), Julie Pal (CEO, CommUNITY Barnet), Liz Pepler (Director, Embrace Finance), James Murphy (Founder, The Good Trouble), Cris Ferreira (Engagement Manager, National Lottery Heritage Fund), James Lee (Consultant, City Bridge Trust), and Ali Habib (Consultant, Action Funder).

The following points came from our panels, amongst many others.

“When it comes to transparency and public confidence in charity, the most difficult question is: Who can you trust? We need open discussions, mechanisms and accountability.” - Kunle Olulode

“The data transparency in the charity sector is still an issue in 2022! There is still no clear data on leadership and management positions held by people with diverse backgrounds.” - Martha Awojobi

Coverage of the campaign in Civil Society News in September 2022.

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4You Financials 37

Independent Examiner’s Report for the year ended

31 December 2022

I report to the charity trustees on my examination of the accounts of Money4YOU (the Charity) for the year ended 31st December 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Art 2011 (‘the Act’). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1.Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

• 2.The accounts do not accord with those records; or

• 3.The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports)

Regulations 2008, other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Matthew Upex F.C.C.A. (Fellow of the Association of Chartered Certified Accountants) MPU Associates Limited , 44 Salisbury Gardens, Bourne, Lincolnshire, PE10 0FU

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Financial Review for the year ended 31 December 2022

Respective responsibilities of trustees

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an independent examination is required for this year under section 144 of the Charities Act 2011 (“the Charities Act”).

Method of preparation of accounts

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) and in accordance with the Financial Reporting Standard 102 (effective 1st January 2016).

Money4YOU meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Financial Review of the Position

The Trustees confirm that they are satisfied that the Charity is a going concern.

Policy on Reserves

The Trustees aim to hold three months of operating costs as unrestricted reserves, in line with our sustainability strategy, to protect against financial risk and any drop in income. At the close of the reporting year, this had not been met. One key reason for this is the designation of funds made by the Trustees upon identifying that the activities of 4Entrepreneurs was underfunded during the year to 31 December 2022. This work (delivering entrepreneurship training in underdeveloped communities) is important to the objectives of the charity and therefore the shortfall was covered from unrestricted reserves. As opposed to making an in year transfer, we have updated the accounts to designate the amount which would then be transferred to cover the negative fund balance of 4Entrepreneurs in the 2023 year. This approach was taken to demonstrate the funding requirement 4Entrepreneurs and to provide transparency on the overall position of our financial position as at 31 December 2022. To confirm, unrestricted funds at 31 December 2022 were £16,111.

The Trustees remain committed to raising Unrestricted funds in a variety of ways, and primarily through the monetisation of courses and the large amount of data the charity holds.

Approval of this report

This report was approved by the Board of Trustees on 16 July, 2023.

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4You Statement of Financial Position Recommended categories by activity Unrestricted funds Restricted Income funds Endowment funds Total funds Prior year funds Income Income and endowments from: Donations and legacies Charitable activities 8,835 45,678 54,513 8,835 251,511 260,346 181,285 22,795 204,080 205,833 205,833 Total Expenditure Expenditure on: Charitable activities 67,974 157,386 225,360 248,678 8,477 257,155 Other Total 67,974 157,386 225,360 Net incomel(expenditure) before tax forthe reporting period Net incomel(expenditure) after tax before investment gainsl(losses) Net income l (expenditure) Transfers between funds Net movements in funds -13,461 48,447 34,986 -53,075 -13,461 48,447 34,986 -53,075 -13,461 -211 48,447 211 34,986 -53,075 -13,672 48,658 34,986 -53,075 Reconciliation of funds.. Total funds brought forward Total funds carried forward 50,633 36,961 15,769 64,427 66,402 101,388 119,477 66,402 40

4You Balance sheet Unrestricted funds Restricted Income funds Endowment funds Total funds Prior year funds Current assets Cash at bank and in hand 37,461 37,461 64,427 64,427 101,888 101,888 66,402 66,402 Total current assets Creditors: Amounts falling due within one year 500 500 Net current assets / (liabilities) 36,961 64,427 101,388 66,402 Total assets Lss current liabilities 36,961 64,427 101,388 66,402 Total net assets or liabilities 36,961 64,427 101,388 66,402 Funds of the Charity Restricted Income funds 64,427 64,427 16,111 20,850 101,388 15,769 50,633 Unrestricted funds 16,111 20,850 36,961 Designated funds Total funds 64,427 66,402 41

Fund breakdown and descriptions for the year ended 31 December 2022

Transfers from Unrestricted reserves to Restricted reserves have been required during the year due to the overwhelming requirement for support of the work undertaken by the 4ENTREPRENEURS Restricted Fund. The Trustees have identified the considerable need in this area and have plans to raise future income to allow this important work to continue.

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Fund breakdown and descriptions for the year ended 31 December 2021

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Governance

Board of Trustees

Dilys Barnett (Chair) Edwin Viegas (Treasurer) Alezandra Udueni (Secretary) Frédéric Jean-Baptiste (Vice Chair)

Interns and Volunteers

As always, we’re deeply indebted to our amazing interns and volunteers. This year, they generously gave their time and expertise to help us run events, edit videos, maintain our virtual learning platforms, produce transcripts of training events, create partnerships, offer mentorship to young people, and strengthen all the other behind-thescenes work that multiplies our impact and serves our community.

Special thanks to Dhruthi Balasubramanian, Snikitha Ramyadevi, Eric Kabamba, Denise Jackson, Christopher Templeton and Varun Murali.

Chief Executive Officer

AmickyCarol Akiwumi MBE

Signed on behalf of the trustees:

We are satisfied that this represents a true and fair view of the financial position of Money4YOU

Dilys Barnett Edwin Viegas Dilys Barnett (Chair ) Edwin Viegas (Treasurer)

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[e-mail] @MONEY4YOUORG
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There are no extraordinary people, only ordinary people who do extraordinary things with what they’ve been given.

- Brad Brown