OpenCharities

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2021-03-31-accounts

Annual Report and Financial Statements 2020-21

Year ended 31[st] March 2021

360 Giving Trading as 360Giving

c/o Esmée Fairbairn Foundation, Kings Place, 90 York Way, London N1 9AG Charity Registration Number. 1164883

Company Limited by Guarantee. Registration (England and Wales): 09668396.

Annual Report and Financial Statements 2020-21

Contents

Contents
Introduction 1
Welcome from the Chair 1
About 360Giving 2
2020-21 Highlights 5
Progress over the years 6
Strategic Report 7
Achievements and performance 7
Challenges and learning 19
Plans for the future 20
Principal risks and uncertainties 23
Financial review 24
Trustees’ Report 26
Structure and governance 26
Statement of Trustees’ responsibilities 29
Independent Auditor’s Report 31
Financial Statements 35
Statement of Financial Activities 35
Balance Sheet 36
Statement of Cash Flows 37
Notes to the Financial Statements 38
Reference Information 46

Introduction

Welcome from the Chair

This year has presented unexpected challenges for all of us, and 360Giving has needed to be adaptable, understanding and responsive to sector needs. I am proud of how 360Giving has risen to these challenges and worked tirelessly to support funders at a crucial time, while still growing as an organisation and achieving significant milestones.

Open data’s value for society has been profoundly demonstrated during the coronavirus crisis. Our COVID-19 Grants Tracker has helped funders across the UK to collaboratively respond to the crisis, made possible by the UK funders now publishing their grants data openly in the 360Giving Data Standard. We’ve seen a shift, from publishing being considered ‘best practice’ to ‘expected practice’ – significant progress against our goal of normalising open data sharing.

Another significant milestone has been the UK Government publishing data about its April 2017 to March 2020 grants in the 360Giving Data Standard. This has taken commitment and dedication from both sides, and has been many years in the making. We’re pleased to have worked closely with the UK Government and look forward to continuing this work.

We’re at an exciting point of becoming a more mature organisation and look forward to developing our 2022-25 Strategy.

I would like to thank our staff for their commitment, dedication and hard work, particularly during such a challenging year. I would also like to thank my fellow Trustees for their advice and support to steer the charity.

Finally, I would like to thank our funders – their names are on page 25 of this report. Without them our work would not be possible.

The Trustees (who are also Directors of the charitable company for the purposes of the Companies Act) present their annual report together with audited financial statements of 360 Giving (trading as 360Giving) for the period ended 31 March 2021.

Francesca Perrin OBE, Chair of Trustees

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About 360Giving

360Giving is a unique initiative. We aim to inspire best practice in grantmaking and want to leverage open data to help achieve this.

Our vision is for UK grantmaking to be more informed, effective and strategic.

Our Mission

We help UK funders publish open, standardised grants data, and empower people to use this data to improve charitable giving.

When funders publish information on who, where and what they fund in the 360Giving Data Standard it means they are sharing it in a way that others can access and use for free. Because the data is standardised, it can be looked at and analysed all together, helping us to understand grantmaking across the UK. Having access to this information means that funding can be more informed and effective.

Our story

Mapping the landscape of UK grant giving is hard, because so many different kinds of organisations award grants using different funding models.

It is as important now as ever before for grants to be spent strategically, as the needs of society far outweigh the available grants.

For limited resources to be deployed most effectively, funders must be able to collaborate. But historically funders have had limited visibility of how each other spend their money. This has made it hard to identify shared opportunities and challenges, or to assess UK grantmaking – and its impact – as a whole.

Since we were founded in July 2015, we have worked with over 190 funders to publish their grants data openly in the 360Giving Data Standard. This means that, for the first time in the UK, it’s possible to see and analyse grants awarded by different funders all together. The data is transforming the knowledge base of the whole sector. We’ve also developed tools that make the data easier to access and use.

Our approach

We are now at a tipping point where publishing open grants data is becoming the norm; but funders need to become more data-informed and improve the quality of the information they share if we are going to create the lasting change we want to see. This is what we now focus on.

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Our success over the past five years means there is now a critical mass of open, comparable information available on UK grants. We are creating real and meaningful change in the sector. We need to build on this momentum and use our learning and the infrastructure we have developed to get UK funders to shift from sharing data to using it in their day-to-day work. In order to do this, we work around four key themes:

  1. Seeing through what we started: Making data sharing the norm within the sector, including the process, tools and support needed to do that.

  2. Raising the bar: Improving the quality of the data that’s being shared and ensuring the 360Giving Data Standard remains fit for purpose.

  3. Testing new approaches: Bringing together funders to improve their data literacy and identifying their data needs, including key points in the grantmaking cycle when data would be useful.

  4. Inspiring: Undertaking data analysis and supporting the use of 360Giving data, including examples that inspire and to make sure the data is useful for different stakeholders, not just funders.

How we define grantmaking

We do not restrict which organisations can publish their data in the 360Giving Data Standard. We use a broad definition for describing grantmakers. We consider these to be any organisation that provides non-repayable funding to civil society organisations. Any grantmaker can publish to 360Giving, including charitable trusts and foundations; central and local government agencies; and other publicly-funded bodies that primarily make grants to civil society. We will continue to focus on UK grantmaking for the duration of this strategy and we encourage all grantmakers to engage with 360Giving and to share their data openly.

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Our values

We strive to act in line with our values and principles, and be:

PURPOSEFUL We have a bold and ambitious aim for grantmaking to be more effective and
strategic, by inspiring funders to use data in their decision-making. We’re
focused on driving meaningful change in philanthropy for charities, and
improving outcomes for communities and good causes across the UK.
OPEN We champion open data for the public good. We help funders make grants
data open and provide free, open-source, tools to make it more accessible,
so others can use it to target resources where they’re needed most.
We are open in our approach: we share ideas, challenges and lessons with
others, and are open to feedback and committed to improvement.
CURIOUS We’re inquisitive and we believe in using evidence. We inspire and enable
people to use 360Giving data to better understand the voluntary sector. We
support funders to use data to inform their decisions, share insights and
learn from each other.
COLLABORATIVE We exist at the intersection of philanthropy, charities, data and tech. Through
facilitating data sharing and insight in philanthropy, we work with funders,
charities, researchers, analysts and developers to achieve our objectives,
and strive to support them to deliver theirs.
INCLUSIVE We make data, our tools and support accessible to all. We prioritise people
over tech, use clear language in explaining what we do, and strive to
respond to people’s needs – whatever their level of knowledge or digital
skills.

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2020-21 Highlights

360 Giving Annual Report and Financial Statements 2020-21

Progress over the years

6 360 Giving Annual Report and Financial Statements 2020-21

Strategic Report

Achievements and performance

Summary

The past year has been an unusual and challenging year for us all, including here at 360Giving. At the end of March 2020, we said thank you and farewell to Rachel Rank, former CEO, and welcomed Tania Cohen in as the new 360Giving CEO just as the UK was hit by the COVID-19 pandemic and the team was quickly adapting to work from home.

It is fair to say that while the pandemic accelerated our strategy in a number of areas, with the need to prioritise the support for funders responding to the emergency, it was necessary to delay a number of planned projects, some of which will now be completed in 2021-22.

In March 2020 we launched the COVID-19 Grants Tracker to support funders as they responded to the pandemic. There was an increase in demand from funders wanting to publish their grants data and we worked hard to support this. There was a shared sense of collaboration within the sector to support communities and charities impacted by the pandemic. In April the Tracker averaged over 100 users each weekday. One funder said, “the Tracker was crucial to helping us understand how our funding response fitted in with the wider sector’s response.”

The heightened importance of data to support decision-making, and our support for these efforts resulted in ending the year with over 50% more funders publishing their grants data in the 360Giving Data Standard – significant progress towards our goal of normalising open data sharing amongst funders.

We successfully adapted our data literacy programmes to be delivered online, enabling us to make great progress towards goal three – helping funders become more data literate. We delivered our third Data Champions programme with 32 participants, our largest and most diverse cohort yet. The online delivery has enabled more people to attend and is something we plan to incorporate in the future.

The charity celebrated its fifth birthday in July this year and it has matured and grown in line with this. At the start of the year, a rebranding made our website more developed and professional. We have also onboarded a new full-time staff member providing extra capacity for communications projects and programmes, and recruited six new Trustees to our Board.

In October 2020, 16 central UK Government departments published over £30bn of open grants data for 2018-19 using the 360Giving Data Standard. This was followed by further publication in March 2021 of their 2017-18 and 2019-20 data – with a total of £77bn in Government Grants

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across the three financial years. This publication by the UK Government is a significant milestone towards our goals.

We have improved our online tools in line with our goal to grow data use and shared learning, although some of this work has been postponed due to capacity and prioritising publisher support to respond to the pandemic. After last year’s work on the Datastore, we have continued to develop it by expanding additional data and registering more direct users. The work has enabled us to develop our other online tools based on User Experience Research. In March 2021, we launched an upgraded version of our search-engine for grants data, GrantNav, enabling better functionality for users.

Finally, in response to sector needs, we have developed a shared taxonomy for collecting equity data on behalf of the DEI Data Group of funders and are developing an extension to the 360Giving Data Standard to support funders to be able to report on this data. Below is a summary of the year against the key milestones set out in our 2019-22 strategy.

Targets/milestones Results Status
80% of UK grants
published openly by March
2022, including grants
from central government.		 190 funders that are sharing 360Giving data are listed on
a centralData Registry.The publication of central
government departments was delayed by the onset of
COVID-19 crisis, however data was shared by 16
departments in October 2020, and a further annual
publication was made in March 2021. The 80% target is
met for central government grants and on-track for lottery
grantmaking, with good progress made towards the target
for charitable grantmakers. While we are on track to meet
the 80% target for overall grants, reaching this amount for
the trusts and foundations segment will be challenging.		 Green
Establish practitioner
working groups to explore
challenging areas of data
publishing and use.		 The launch and recruitment of participants for the working
groups was postponed at the onset of the COVID-19
crisis in March 2020. During the year priority was given to
exploring equalities data for the development of the DEI
Data Standard. Two topics whose importance was further
highlighted through COVID grants publication, beneficiary
location data and re-granting, will be launched from Q2
2021.		 Amber
A Data Champions
programme that builds
data literacy and
ambassadors for open
data.		 The annual programme is now well established and very
successfully made the transition to online delivery with 32
participants taking part in a variety of roles in diverse
organisations including central and local government,
lottery distributors, national and local trusts, community
foundations and corporate foundations.		 Green

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Series of regional/ sectoral
projects supporting in-
depth analysis of
grantmaking activities.		 A data expedition was held with Open Data Manchester,
but a second planned expedition was postponed due to
capacity limitations due to the pandemic response.
We undertook analysis of grassroots organisations and
published the Below the Radar report in partnership with
Local Trust and NCVO, and analysis of immigration
advice and associated funding with London Funders.
This area was deprioritised due to lack of capacity, but a
major part of plans for 2021-22		 Amber
Updated tools and
platforms that support
easier access to and
understanding of the data.		 During the year we enhanced the COVID-19 Grants
Tracker that was launched in March 2020. This included
development of dashboards, visualisations and filters.
We also upgraded our main tool, GrantNav with
enhanced search and filtering functionality to improve
access.
We shared the initial Resource Library with tools and
information to support users of the data. We also
implemented enhancements to the FindthatCharity
platform.		 Green
A new framework and
interactive digital tools that
help organisations to
understand their data
maturity		 This project was cancelled as there are now a number of
alternative data maturity frameworks available and
feedback from potential users is that there is no longer a
high need/demand compared to when the strategy was
originally written in 2018.
We have therefore redirected our focus to other projects
so as to not duplicate existingwork around data maturity.		 Red

Progress on goals

In 2019 we launched our 2019-21 strategy, ‘Unlocking the power of grants data’:

https://www.threesixtygiving.org/about/unlocking.

In it we set out four ambitious goals:

  1. Normalising open data sharing within the grantmaking community

  2. Improving the quality of the data that’s being shared

  3. Increasing the data literacy of grantmakers

  4. Growing data use and shared learning

During 2020-21 we made significant progress towards these goals.

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Goal 1: Normalise open data sharing

More grantmakers regularly sharing their data in an open, comparable way, providing a more comprehensive picture of grantmaking across the UK.

This year we have made great progress towards our goal of normalising open data sharing. We ended the year with 190 funders now publishing their grants data in the 360Giving Data Standard – more than a 50% increase from the previous year. We have seen a shift of perspective from open data sharing being best practice, to now being expected practice. In 2020-21 we had 64 new funders publish their grants data compared to 25 in the previous year – that’s a 156% increase in new funders.

More data being shared has created a more reliable and comprehensive picture of grant making across the UK which has supported grantmakers to make more strategic decisions, particularly in response to the COVID-19 pandemic.

This shift to open data sharing being expected practice was in large part due to the response of grantmakers to the pandemic, and the increased need for data to support collaboration and effective decision-making. In the first quarter of the year at the peak of the pandemic, the team were working beyond capacity to support funders, both existing and new publishers, to share their data in the 360Giving Data Standard. We focused our energy and resources on supporting these publishers directly, postponing other project work to later in the year to prioritise support for funders.

A significant achievement towards this goal was the UK Government publishing their 2018-19 grants data in the 360Giving Data Standard in October 2020. This was over 43,000 grants, worth over £32billion and means they meet their Open Government Partnership commitment to increase the transparency of government grant funding. We have worked with the Cabinet Office Grants Management Team to reach this milestone and the relationship has deepened this past year, as we work towards our joint goals of improving data quality. This first release of data was followed in March 2021 with the publication of 2019-20 grants data, alongside the improvement and republication of grants data from the 2017-18 period which had previously been too poor quality to be included on the 360Giving Data Registry. This brings the total value of data shared by the UK government to £77bn.

In the coming year, we will look at how we can support the increased numbers of publishers through launching more online guidance and tools, and improving the efficiency of our processes. This will help us to effectively support more publishers with common queries, reduce dependency on individual team members and continue to provide support to those that need it.

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Goal 2: Improve data quality

Better quality data being shared more regularly and improved understanding of the data standard, the data that is currently published and how it can be used.

Along with an increase in the number of publishers, there has been an increase in publishing frequency. 47% of publishers are sharing grants awarded within the last six months which is a 27% increase on last year. This means that the data available in our tools is more reliable and helpful for users.

We continue to progress towards our goal of better organisation identifiers in the 360Giving dataset. When funders are missing organisation identifiers in their 360Giving data, it significantly reduces its usefulness. We launched an upgraded version of our identifiers tool: findthatcharity.uk in 2020. This is a tool that makes it easy to find the register record for UK charitable organisations when you search by name. The tool now includes a wider range of identifiers, including records for education, NHS institutions, not-for-profit companies and public sector bodies. These developments allow more data gaps to be filled and quality checks can be made on data already shared.

However, despite this, there has been only an 2% increase in the number of recipients with external organisation identifiers compared to last year. While we have seen an increase in the number of funders using these identifiers and improving the quality of their data, a higher volume of COVID-19 related grants went to small, unregistered community groups who don’t have organisation identifiers, impacting the overall picture. Excluding these grants, we have continued to see good progress.

We recognise the importance of ensuring the 360Giving Data Standard is fit for purpose so that high quality data can be collected. We postponed the planned working groups exploring geographical issues and regranting to prioritise our support to funders in the pandemic response, and the work with the DEI Data Group on the recording and reporting of equity data. We recognised that there has long been a need in the sector for an effective, long-term solution to collecting equity data. Reprioritising our work, we have supported the co-creation of a taxonomy to enable consistent reporting, collection and analysis of equalities data. During 2021-22 we will be implementing this further as an extension into the 360Giving tools, and to the 360Giving Standard to support funders to publish their data.

In November 2020 the 360Giving Standard Stewardship Committee approved an upgrade to the Standard to allow for the publication of authoritative Metadata in 360Giving data. In January 2021 we began a process to review the governance and develop a strategy for the 360Giving Data Standard.

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During 2020-21 we had planned to deliver two key data quality projects that were delayed to prioritise the pandemic response. These were started in February 2021 and we aim for them to be completed in April and May 2021 respectively:

Data Dashboard

During 2020-21 we prototyped a dashboard as part of supporting better understanding of 360Giving data. It shows what information items are being shared by each funder, and the comprehensiveness of the dataset as a whole, providing detailed information about quality and timeliness. We have been working on an external version to be launched early in 2021-22. This will make it easier for people to engage with the data; for example, by helping them identify which data to include in their research. It will also help funders better understand what’s in their data. We will use it to showcase examples of best practice and identify issues with coverage or quality.

Data Quality tool

This allows funders to validate their 360Giving data. It’s an important tool when preparing data for release: www.dataquality.threesixtygiving.org. Users can check whether their data complies with the schema, receive feedback on its quality and convert it into different file formats. We are working on upgrading it, focusing on making it easier for less technical users to understand how the features of their data impact on its usefulness.

Goal 3: Increase data literacy

Improve skills, understanding and capacity to use data as part of good grant giving and greater ambition to become data-informed.

Having data about over £100 billion grants means we can support some sector-changing analyses; but only if people know how to use the data and understand what questions they can ask of it. It’s important that 360Giving catalyses real change among funders and how they use data to support their decision making and learning. If we want the sector to be more data-informed, we need to build individuals’ capacity to use data and make them feel part of a community.

Our activities under this goal are specifically aimed at addressing this.

Data Surgeries

We held four Data Surgeries (skills and techniques development workshops) in 2020-21 with a total of 44 attendees. This is a 193% increase in participants from last year when we held two Surgeries. All four Surgeries were delivered online and received positive feedback. The topic of Making Maps was particularly popular – the first one sold out in less than an hour so we repeated the session to accommodate the waiting list. Given their success and demand, we plan to continue

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the Data Surgeries in 2021-22 with a more structured approach when increased team capacity allows.

Office Hours

We held 11 Office Hours (pro bono consultancy sessions) in 2020-21 to continue to support individuals, from chief executives to analysts and project officers. The topics included support for building a map, advice for presenting the 360Giving Data Standard to the board, and how to use the data for fundraising research. We plan to continue to provide this valuable service to support individual queries to enhance data literacy.

Data Expeditions

Data Expeditions are a great way for an organisation or a group of individuals to learn new skills around using data and how to conduct analysis which is relevant to their work. They bring together a diverse group of people from policy, community development and technical backgrounds in an active learning environment.

In 2020-21, we partnered with Open Data Manchester to pilot the online delivery of a Data Expeditions. Over two weeks, participants attended five online workshops led by trained facilitators. By the end of the expedition, results included:

  1. Acquiring new data skills

  2. Outputs such as visualisations, data needs or stories from the data

  3. Understanding and mitigating personal data knowledge gaps

  4. Networking with new people.

We will implement learnings from the pilot to our future Expeditions, including using more specific data questions and targeted groups. We have two Data Expeditions planned for 2021-22 and look forward to continuing to develop this programme.

Data Champions programme

The Data Champions programme offers participants the chance to learn more about data and how to build and improve their organisations data culture. Each month for six months, participants attend a four-hour online workshop and a shorter online discussion group. With collaboration and peer-learning at its heart, it's a unique space for funders to network and learn from one another and build a community for after the programme. Participants leave the programme with:

  1. more confidence to work with data

  2. the knowledge and tools to grow a data culture in their organisation

  3. a network of fellow Data Champions to support future development

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After running two pilot programmes in 2018-19 and rolling out the programme in 2019-20, in November 2020, we launched our first programme to be delivered completely online. We had 49 applicants and shortlisted 32 participants – 45% more than the previous programme – from a wide range of organisations including national and local government, community foundations, Lottery distributors, and private trusts and foundations. The online format has led to unintended benefits including higher attendance rates and a greater diversity of participants. Going forward, we plan to combine online and some elements of face to face engagement, recognising the benefits of inperson sessions for networking and relationship building.

25 of the 32 Data Champions participants completed the programme (attended the majority of sessions). 26 participants completed the evaluation. Here are some highlights of the outcomes reported by participants as a result of the programme:

We plan to follow up with participants in three months to explore what actually changed as a result of the programme.

Data Maturity Framework

In the strategy and the 2020-21 plans, we had planned to develop a data maturity framework for the sector. However, the need for this was re-evaluated during the year and it was dropped from the plans. The current crisis has forced organisations to use data more - their own and other people’s. We have seen a significant shift in how data is valued and used. In such a dynamic environment, a data maturity framework may no longer meet the original need which was to support organisations to consider use of data. In addition, we have seen a number of other data maturity frameworks being published or being developed, including Data Orchard and the new government Data Quality Hub. We have therefore redirected our focus to other projects so as to not duplicate existing work around data maturity.

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Goal 4: Grow data use and shared learning

Ensure the ongoing credibility and influence of our work, built on testing and learning,

demonstrating the data’s relevance to different stakeholders.

We know that inspiring examples of how 360Giving data is used drive up interest in, and the publication of, more and better data. Working in partnership with funders and developers, we showcase ideas and projects that use the data to create useful analysis and tools. We also strive to better understand how 360Giving data can help to address specific challenges, and if it can’t, why not.

Activities under this goal are grouped under three priority areas:

Collaborative learning projects

In 2020-21 we have focused on contributing to projects and supporting collaborations between funders. One such project was the report, ‘Below The Radar: Exploring grants data for grassroots organisations’ which was funded by Local Trust and carried out in partnership with NCVO. The report uses data published in the 360Giving Data Standard to identify a set of organisations that receive grants from UK foundations but couldn’t be found using other administrative sources (such as registries of regulated organisations, like charities). This has generated media and sector interest and we made the methodology available for others to also explore the data.

threesixtygiving.org/2020/08/06/below-the-radar-understanding-some-of-the-uks-smallest-charities

We also undertook analysis to support collaboration between funders. This included sharing with funders the lists of recipients that they have in common with other funders (threesixtygiving.org/2020/03/25/covid19-weve-updated-our-who-funds-who-data-andvisualisation-to-support-collaboration) and also undertaking specific analysis to support collaboration strategies and planning. For example, we did an analysis report for London Funders exploring organisations that fund immigration advice and related areas to inform the strategy for their collaborative project.

In the coming year, we plan to do some deep dive analysis on the grants given in response to COVID-19 and the UK Government Grants data.

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Tools for data use

COVID-19 Grants Tracker

covidtracker.threesixtygiving.org

We developed the COVID-19 Grants Tracker in March 2020 to make it easy to access COVID-19related grants data. The tool pulls and visualises data published by funders about their grants made in response to the crisis, and is updated daily.

The COVID-19 Grants Tracker has played an important role in supporting funders to respond to the pandemic, particularly at the start of the year when it averaged 100 users each weekday. The tool enabled funders to make more informed decisions about how to give grants, and produce their own snapshot reports. As one grantmaker said, “the tracker was crucial to helping us understand how our funding response fitted in with the wider sector’s response. It provided us with some comfort that we were acting quickly and appropriately in the circumstances.” In the last two weeks of April 2020, the Tracker had over 1,700 users.

As the effects of the pandemic continue, there is still a need and user base for the Tracker. At the appropriate time we will look to retire the Tracker and integrate it into GrantNav.

Datastore

This is a centrally managed Datastore for 360Giving, which pulls, parses and houses all datasets registered with the initiative. It is updated on a nightly basis, therefore ensuring currency and immediacy, and it is made available to trusted users, the 360Giving staff and technical team. This year, seven individuals have access to use the 360Giving Datastore, taking the total number of users to nine. This has included users that are accessing the data to include it in their own external platforms, supporting us to reach many more data users indirectly.

In 2019-20 we focused on updating and launching the 360Giving Datastore. In 2020-21, thanks to those enhancements of the Datastore, we were able to quickly develop the COVID-19 Grants Tracker to respond to funders needs. The 360Giving Datastore enhancements have also supported development of our flagship tool, GrantNav which was updated in March 2021, including drawing in more of the 360Giving Datastore data.

GrantNav

grantnav.threesixtygiving.org

GrantNav is our flagship platform that we launched in September 2016. It brings 360Giving data together, allowing near instantaneous search of over 550,000 grants. Users can explore and download the data, and because it's openly licensed, they can re-use it in their own tools and analysis for free. Almost 130,000 different searches have been made in GrantNav in 2020-21, and it has received 30,725 unique visitors in total – a 41% increase on last year.

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In March 2021 we launched an upgraded version of the tool, based on User Experience research. This was later in the year than planned due to needing to focus on development of the COVID-19 Grants Tracker and support for publishers. In the new version, there’s more data available to be explored, including the size and location of organisations drawn from sources such as the Charity Commission. These additions were possible because of the improvements we made to the 360Giving Datastore. The updated version also has easier to use filters which show more options by default, and we’ve added a ‘Funding Organisation type’ filter to help navigate between different funder types. We will implement more changes in April 2021, including more integration with 360Insights and a simple summary of the search results.

360Insights

insights.threesixtygiving.org

Launched in March 2019, the online tool gives funders tangible feedback on their data, focusing on seven key pieces of information, including the type of organisations they are funding, their location, age and income. The platform brings together 360Giving data with data from the Charity Commission and Companies House.

In March 2021 we launched a new version of GrantNav. Part of that upgrade was integrating 360Insights so that it is easier for users to move between the tools. We plan to develop 360Insights based on the User Experience research early in 2021-22 and following on from the GrantNav upgrades.

Resource Library

resources.threesixtygiving.org

This online space is a library of resources that can help funders – or people interested in grant funding – to find, use and benefit from data. In 2019-20 we developed and tested the Resource Library with the Data Champions. In 2020-21 we launched it more openly although postponed larger developments and promotions due to limited team capacity and the need to support publishers. However, we will continue to develop the resources further and formally launch the Resource Library in 2021.

Communications and Engagement

We started the year with a rebrand of our main website and platforms and the creation of a design system to enable agile development of our webpages. This rebrand was an important step to reflect the change in the charity becoming a more mature organisation.

Our communications work continues to focus on increasing awareness and engagement with our tools and programmes. In September 2020 we hired a new staff member to support communications and administration work. This increased capacity has enabled us to proactively

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create content, analyse and measure our impact and respond to sector news. We have published 36 blogs and increased our Twitter followers and newsletter subscribers by 18% and 19%, respectively.

We responded to the publishing of UK Government grants data with several blogs which received good engagement.

In February 2021, we hired a user research consultancy to help us to understand our audiences and their needs better. We plan to use the findings to make more informed and strategic communications decisions, including designing content specific to our users needs.

In 2020-21 we focused our engagement on smaller groups and collaboration. We contributed and worked with sector bodies and spoke at events, including London Funders, Association for Charitable Foundations and the DEI Data Group. We also worked with the Charity Commission and the Cabinet Office.

We contributed to a number of consultations and in the autumn the Kruger Report made recommendations for more open grants data and referred to 360Giving directly.

In 2021-22, we plan to be more structured and strategic in our engagement, with more focused objectives and plans.

Organisational development

This past year the charity has developed and grown. We have invested in both the people and processes to ensure 360Giving is a strong and sustainable charity for the future. This has included recruiting and training new staff and board members, and identifying and defining our organisational values. We have implemented the Charity Governance Code to embed good governance practices and achieved our Cyber Essentials certification to enhance our cyber security. We have revised all our policies and included them in inductions to embed them into practice.

We have also started the work on development of our CRM, Salesforce, to improve its functionality and our efficiency. This will be implemented in early 2021-22, with further developments later in the year to automate some communications to publishers.

A key priority in 2021-22 is the development of the 2022-25 strategy and fundraising to secure the funds to deliver it.

Diversity, equity and inclusion

As part of our organisational development plans, we reviewed our diversity, equity and inclusion policies and practice and developed an action plan to ensure continuous improvement in this area.

18 360 Giving Annual Report and Financial Statements 2020-21

We recognise that this policy is a work in progress and as our understanding develops and we refine our approach, we will need to continue to ask ourselves hard questions and go further as we strive to represent good practice within the charity sector.

Overall our DEI aims are to:

  1. Ensure an inclusive culture that values diversity in how we treat each other, those we work with and users of our services.

  2. Ensure that our programmes, tools and resources are accessible, inclusive and meeting the needs of a diverse range of stakeholders.

  3. Increase awareness of DEI considerations in the use of grants data and support the practices of others to do so.

  4. Ensure that DEI considerations are actively part of all our internal practices and decision making to maximise our impact.

We have embedded these aims and considerations in to all our plans, processes and decisionmaking. Our policy can be viewed at threesixtygiving.org/about/diversity-equity-and-inclusionpolicy/

Challenges and learning

We faced three key challenges over this reporting period

1. Remote working and relationships

A challenge that many of us have faced this year has been the sudden transitioning to remote working. Combined with several team and Board changes, and the lack of pre-established relationships that accompanies this, this challenge has been particularly felt. We have learned to be adaptable in our ways of working, communicating and bonding as a team, and understanding of individuals’ needs in order to maintain high performance in challenging circumstances.

Remote working has also brought some unexpected benefits. In transitioning our programmes to be online, they have become more inclusive and accessible, and therefore we plan to incorporate some virtual delivery going forward, even after we may have returned to the office.

2. Demand and ambition outstripped capacity

In 2020-21 we had a significant increase in demand for our publisher support services without an increase in team capacity to match this - in fact we had decreased capacity due to vacancies, parttime working for home-schooling, sickness and other pressures.

We not only experienced a rapid increase in the number of funders publishing their data, but existing publishers were also publishing more frequently and others were wanting support in other

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19

ways, including support for analysis and collaboration. While these are all very good news, the need to prioritise publisher support did lead to a number of projects having to be delayed until later in the year, with a few slipping in to being completed in 2021-22.

The interest in our work is looking set to continue. A big priority for 2021-22 is improving guidance, resources and tools in order to support funders to be more self-servicing, and improving the efficiency of our processes, to allow 360Giving to support more funders within the current staffing capacity and to be more sustainable.

3. Growing pains

This year has highlighted that significantly more organisations and individuals than before, now rely on our services for their work - with this reliance comes responsibility.

We may only be five and a half, but in organisational maturity terms we are in the awkward teenage years. Our ambition has outstripped capacity, and we’ve grown in some areas more than others were able to keep pace with, we don’t have the flexibility of a start-up with more people relying on us, and there is a greater need for a clearer direction to manage changes and transitions.

During the year we felt the impact of this rapid growth without the organisational capacity and maturity to manage this in all areas. While things have looked smooth on the outside in meeting external needs, internally we haven’t had the structures to support the outputs. We have needed to invest in establishing the internal policies, processes, people and culture needed to support a growing organisation - but trying to do so in the middle of a global pandemic without the space to reflect or capacity to change.

In 2021-22 we will need to continue to invest in our internal development to strengthen the organisation and to plan for the future in the development of our next strategy for 2022-25. It will be important to make the space to reflect on what will be needed from our next phase and engage stakeholders in it.

Plans for the future

Strategy

In 2019 we launched our 2019-21 strategy, ‘Unlocking the power of grants data’: www.threesixtygiving.org/about/unlocking

In it we set four ambitious goals:

  1. Normalising open data sharing within the grantmaking community

  2. Improving the quality of the data that’s being shared

20 360 Giving Annual Report and Financial Statements 2020-21

  1. Increasing the data literacy of grantmakers

  2. Growing data use and shared learning

These remain our goals for 2021-22.

Priorities for 2021-22

A key theme for the year is getting fit for the future and reflecting the maturity of the organisation. This includes an investment in organisational, staff and board development. We will develop our external tools and processes to increase the efficiency and effectiveness of the publishing process. We will increase user engagement and be more user informed in our activities. We will invest more in the development of the 360Giving Data Standard and its governance and prioritise key areas of our DEI Action Plan.

Goal 1: Normalise open data sharing

The focus is on supporting publishers to be more self-servicing and increase efficiency in the process. We have normalised open data sharing – now we need to make sure we are able to support growing number of publishers with the capacity that we have.

This will include improved publisher guidance, including guidance tailored for specific segments of publishers, and an upgrade of the data quality tool. The data quality tool is to allow publishers to test and validate their data before publishing. The current version is not very easily understood by publishers and requires support from the helpdesk. Improving this could reduce the pressure on the helpdesk.

Goal 2: Improve data quality

This 2021-22 operational plan represents a much greater investment in the 360Giving Data Standard than we have had capacity for previously. Key projects include completion of the DEI Data Standard extension and establishing and delivering outcomes from the geography working group and the regranting working group. We will also implement any changes to the governance and strategy resulting from the external review of the Standard completed in March 2021.

Other projects to support the data quality goal include implementation of the data quality dashboard, upgrade of the data quality tool and updates to the FindthatCharity publisher guidance.

Goal 3: Increase data literacy

We will continue to deliver our data literacy programmes and support, but increasingly shaping them through our user research and improved monitoring and evaluation mechanisms. These will include Data Champions, Expeditions, Surgeries, Office Hours and contributing to events led by others such as the Data4Good Festival.

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Goal 4: Grow data use and learning

We will invest more in analysis and data use over the coming year. This will include significant analysis projects, focusing on deep-dives into the COVID-19 grants data and the UK Government data.

There will be some incremental improvements to tools as it was not possible to complete the full GrantNav and Insights upgrades before the end of March 2021. We will also be commissioning further resources for the Resource Library and developing more content development ourselves based on user research.

Organisational Development

A key priority for the year is planning for the future and development of the 2022-25 strategy. We will also need to fundraise for the new strategy as many of our multi-year grants are due to end in 2022.

In 2021-22, we will have a more strategic approach to our communications, editorial and content, integrating this work into the delivery plans of other teams. We have engagement plans which are much more developed and proactive based on our goals.

We will continue to invest in staff and board development, including the induction of three new trustees joining in July 2021. We will invest in the efficiency and effectiveness of our processes and ways of working, including development of our CRM database to support improved relationship management.

Key measures and milestones

Key areas from the strategy that we need to focus on in 2021-22 so that we build on our successes and achieve our 2019-22 goals include:

We continue to hold quarterly planning meetings to review our progress, discuss challenges and look at what we are learning.

22 360 Giving Annual Report and Financial Statements 2020-21

Principal risks and uncertainties

360Giving maintains a risk register to identify and record the principal risks we are exposed to and confirm that systems are in place to manage those risks. The Board, staff team, and Finance Committee review the risk register periodically, monitoring risks and, where possible, taking steps to mitigate them by ensuring management implements controls and obtains insurance where appropriate.

The main risks faced by the organisation are:

  1. Insufficient capacity to maintain and develop tools and to support increasing numbers of publishers. As well as securing funding as above, planning and project management tools are in place to support resource planning, with considerations of outsourcing at key times. We are also reviewing options and tools to support publishers to be more self-servicing to be able to support more organisations within the existing capacity. With potential increased risks of staff illness with COVID-19, we have also implemented actions to reduce dependence on individuals, including documentation, access to tools, and shared project knowledge to ensure business continuity if someone is unexpectedly unavailable.

  2. Poor-quality data being published to the 360Giving Data Standard, therefore reducing the usefulness of the data and the ability to include it in tools and platforms that encourage better access and use. Having focused primarily on supporting organisations to publish their data during our previous strategy, this is now being mitigated by our goals to help people to understand and use the data to release its value, now that a good dataset has been established. The improved guidance, the development of a new quality dashboard and the upgrade of the quality tool are all aiming to mitigate this risk.

  3. The limited capacity of grantmakers – 360Giving’s target audience – to work with data as part of their day-to-day activities. This is being mitigated by: showcasing the creative ways grantmakers are using the data; developing tools, platforms and guidance that help people access the 360Giving dataset more easily; and running a series of workshops and data use pilots that build the capacity of organisations to work with data.

  4. Product and technology risks. As an organisation that provides digital tools and services, security, availability and reliability of our systems is key. We have a range of mitigating actions and contingency options in place for security and recovery which are reviewed on a regular basis to ensure that the highest standards of practice are maintained. This includes Cyber Essentials certification.

  5. Insufficient funds being raised to support planned activities. This is a longer-term risk. While we have funding for the current year, there is significantly less secured for 2022-23 so a key priority is developing the next strategy in enough time to fundraise.

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Financial review

Results for the period

Total income for the period was £587,955 (2020 – £500,284). Total income included grants of £587,955 (2020 – £491,084), including unrestricted donations of £355,00 (2020 – £295,000) and monies received for specific projects of £232,955 (2020 – £196,084).

Expenditure totalled £508,392 (2020 – £476,969) resulting in an overall surplus of £79,563 (2020 – a surplus of £23,315), comprising a surplus on unrestricted funds of £60,467 (2020 – deficit £4,365) and a surplus of £19,096 on restricted funds (2020 – surplus £27,680). A transfer of £54,800 was made at year end from the unrestricted general funds to a designated fund to reflect expenditure committed to for development projects already started but not completed in 2020-21 due to our own and supplier capacity limitations due to COVID-19. It is anticipated that these funds will also be spent by June 2021.

The charity’s balance sheet at 31 March 2021 shows total funds of £264,759 (2020 – £185,196) split between unrestricted general funds of £163,183 (2020 – £157,516), designated funds of £54,800 (2020 – nil) and restricted funds of £46,776 (2020 – £27,680). The charity’s free reserves are equal to the balance of unrestricted general funds.

Reserves policy

The trustees have a policy of ensuring that they hold in free reserves adequate funds to allow for the orderly wind-down of the charity should that ever prove to be necessary. The amount required for this is currently estimated to be £126,467.

At 31[st] March 2021, the level of the general fund or free reserves was £163,183 (2020 - £157,516), which exceeds the target reserves balance. The excess funds will be used to cover increased budgeted operating costs for the year ended 31[st] March 2022 arising from the slippage of some activities from 2020-21 to 2021-22, and a higher staff complement and costs for the year 2021-22.

Going concern

The trustees have assessed the position of the charity as a going concern in preparing this report and financial statements and have made this assessment in respect of a period of one year from the date of approval of these financial statements, based on the expected level of activity during 2021-22 and the first half of 2022-23 and income already secured. The charity had net current assets at 31 March 2021 and few recurring and fixed costs. The coronavirus pandemic has not hindered the charity’s operations in any meaningful way. The trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the

24 360 Giving Annual Report and Financial Statements 2020-21

ability of the charity to continue as a going concern, and the charity will have sufficient resources to meet its liabilities as they fall due.

Fundraising

The charity does not have any dedicated fundraising roles and does not undertake public fundraising activities. We adhere to the Code of Fundraising Practice with respect to the grants that we apply for and receive.

Principal funding sources

We thank all our supporters, without whom our work would not be possible. Funders in

2020-21 were:

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25

Trustees’ Report

Structure and governance

Legal Structure

360 Giving, operating under the name 360Giving, is constituted as a company limited by guarantee registered in England and Wales (number 09668396) incorporated on 2[nd] July 2015, and registered as a charity with the Charity Commission (number 1164883).

It is governed by a Memorandum and Articles of Association. The maximum liability of members in the event of a winding up is £10. At 31 March 2021 there were seven members who are all trustees and directors of the charitable company.

Charitable Objects

The constitutional objects are restricted to the following:

The promotion of the voluntary sector for the benefit of the public by encouraging, supporting and assisting grant makers, grant recipients and funders to adopt an open online common standard for the reporting of grant information thereby assisting donors and funders to more effectively make charitable donations and to more effectively target their grant-making by identifying gaps in provision.

These are embedded in our vision and reflected in our strategy and activities.

Public benefit

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’.

360Giving’s Board of Trustees regularly monitors and reviews the success of the organisation in meeting its key objectives. The trustees confirm, in the light of the guidance, that these meet the public benefit test and that all the activities of the charity, described in the Strategic Report, are undertaken in pursuit of these aims.

This report demonstrates how our activities during the year, and strategy, have delivered our charitable objects and demonstrates that the requirements to identify public benefit have been met. Our strategy and plans for 2021-22 show our commitment to continuing to deliver public benefit in the years ahead.

26 360 Giving Annual Report and Financial Statements 2020-21

Appointment of Board members

The Board of Trustees comprised seven Directors as at 31[st] March 2021. In accordance with the charity’s Articles, new directors are appointed by ordinary resolution of the directors. Apart from the Founder Director, Francesca Perrin, all Directors are appointed for an initial tenure of three years, with the possibility of being offered one extension of a maximum of three years. There is no set period of office for the Founder Director/Chair. All Directors are required to sign a declaration of interests and confirm that they meet the requirements outlined in HMRC’s guidance of fit and proper persons and Charity Commission Automatic Disqualification rules. They are subject to the same Terms of Reference and Code of Conduct. They are also covered by the organisation’s disclosure policy, whistleblowing policy and privacy policy.

Trustee induction and training

New trustees complete an induction programme with the Chief Executive and Chair before attending their first Board meeting to brief them on: their legal obligations under charity and company law, the Charity Commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the strategy and recent financial performance of the charity. Trustees are encouraged to attend relevant training and events that facilitate the undertaking of their role. The members of the Board of Trustees who served as trustees (and directors of the company) during the period and up to the date on which this report was approved were as follows:

No trustee received any remuneration for their services during the period (2020 – none). Expenses of £90 were paid by the charity on behalf of one trustee for childcare costs relating to attendance at a trustee meeting (2020 – none).

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Role of the Board, management and decision-making

The Board is responsible for setting strategy and the general management and supervision of the work of 360Giving.

A Chief Executive has been appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance and employment.

Trustees receive regular updates on the organisation’s activities and delivery. They meet quarterly at formal Board and Finance Committee meetings at which they review management accounts with forecast out-turn, the risk register and progress against planned deliverables. Trustees and staff interact regularly and specifically the Chief Executive meets regularly with the Chair.

In 2020 the organisation undertook a review of governance against the Charity Governance Code for large charities and implemented improvements to practice and documentation as a result. All elements of the code relevant to the organisation have now been applied, with the exception of the Board Appraisal process which will be implemented in autumn 2021 when the full Board will be in place, following recent recruitment.

The 360Giving Data Standard is governed by a Stewardship Committee which is independent from the Board of Trustees. It is their role to oversee and account for the appropriate and timely maintenance of the Standard, including what upgrades are required and the process for making them.

The Committee meets every six months to discuss the Standard schema, look at how it is being used and consider any proposed changes or upgrades. This is a voluntary committee with representatives from grantmakers, users of 360Giving data and open data and standards experts. Secretarial support is provided to the Committee by 360Giving. The Committee is responsible for giving final approval to formal upgrades of the Standard and ensuring the governance and revision process has been properly carried out.

The Stewardship Committee is directed and governed in line with its Terms of Reference. Committee members are appointed following an agreed process.

In January 2021 we commissioned an external review of the 360Giving Data Standard and its governance which will be implemented in 2021-22.

Key management personnel

The key management personnel of the charity in charge of running and operating the charity on a day to day basis comprise the trustees and the Chief Executive. The trustees receive no remuneration. The remuneration of the Chief Executive is set through analysing and benchmarking against the average rate paid in the sector.

28 360 Giving Annual Report and Financial Statements 2020-21

Statement of Trustees’ responsibilities

The trustees (who are also directors of 360 Giving for the purposes of company law) are responsible for preparing the trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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

Each of the trustees confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

The trustees are responsible for the maintenance and integrity of financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. It was approved by the Board and signed on its behalf by:

Francesca Perrin, OBE (Chair)

Approved by the trustees on 15[th] July 2021

30 360 Giving Annual Report and Financial Statements 2020-21

Independent Auditor’s Report

Independent auditor’s report to the members and trustees of 360 Giving

Opinion

We have audited the financial statements of 360 Giving (the ‘charitable company’) for the year ended 31 March 2021 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 Three Sixty Giving'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.

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Other Information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the 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.

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’ annual 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 statement of trustees’ responsibilities set out in the trustees’ annual report, 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 32 360 Giving Annual Report and Financial Statements 2020-21

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 are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or noncompliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior statutory auditor) 20 July 2021

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

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34

Financial Statements

Statement of Financial Activities

Year to 31 March 2021

Year to 31 March 2021
Notes Designated
Funds
£
General
Funds
£		 Restricted
Funds
£		 2021
Total
Funds
£		 2020
Total
Funds
£
Income from:
Donations
2
Charitable activities
3
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net income and
movement in funds
10
Transfers between funds 10
Net income and
movement in funds
10
Reconciliation of funds:
Total funds brought forward
Total funds carried forward10		 -
-
355,000

-

-

232,955


355,000

232,955

295,000

205,284
-
355,000
232,955
587,955
500,284
-
294,533
213,859
508,392
476,969
-
294,533
213,859
508,392
476,969

-

54,800

54,800
-
60,467

(54,800)

5,667

157,516
19,096

-

19,096

27,680
79,563

-

79,563

185,196
23,315

-

23,315

161,881

54,800
163,183
46,776
264,759
185,196

All of the operations undertaken by the charity during the above two financial periods are continuing operations.

The notes on pages 38 to 45 form part of these financial statements.

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Balance Sheet

At 31 March 2021

At 31 March 2021
Notes
Current assets
Debtors
8
Cash at bank and in hand
Creditors
Falling due within one year
9
Net current assets
Total net assets
Represented by:
10
Restricted funds
Designated funds
Unrestricted general funds		 2021
£
-
313,619
313,619
(48,860)		 2021
£





264,759
264,759
46,776
54,800
163,183
264,759		 2020
£

7,000
212,244
219,244
(34,048)





 2020
£



185,196
185,196
27,680
-
157,516
185,196

Approved by the Board of Trustees of 360 Giving, Company Registration Number 09668396 (England and Wales), and signed on their behalf by:

Francesca Perrin, OBE (Chair)

Approved on 15[th] July 2021

The notes on pages 38 to 45 form part of these financial statements.

36 360 Giving Annual Report and Financial Statements 2020-21

Statement of Cash Flows

Year to 31 March 2021

Statement of cash flows
Notes
Cash flows from operating activities:
Net cash provided by operating activities
A
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
B		 2021
£

101,375
101,375
212,244
313,619		 2020
£


29,978

29,978

182,266

212,244
Notes to the statement of cash flows for the year to 31 March Notes to the statement of cash flows for the year to 31 March 2021
A Reconciliation of net movement in funds to net cash 2021 2020
provided by operating activities £ £
Net movement in funds (as per the statement of
financial activities) 79,563
23,315
Adjustments for:
Decrease/(Increase) in debtors 7,000
(7,000)
Increase/ (Decrease) in creditors 14,812
13,663
Net cash provided by (used in) operating activities 101,375
29,978
2021 2020
B Analysis of cash and cash equivalents £ £
Cash at bank and in hand 313,619
212,244
Total cash and cash equivalents 313,619
212,244

The notes on pages 38 to 45 form part of these financial statements.

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Notes to the Financial Statements

1. Principal accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

a) Basis of accounting

The financial statements have been prepared under the historical cost convention with items initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

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 United Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

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

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

The accounts are presented in sterling and are rounded to the nearest pound.

b) Public Benefit Entity

The charity constitutes a public benefit entity as defined by FRS 102.

c) Assessment of going concern

The trustees have assessed the position of the charity as a going concern in preparing this report and financial statements and have made this assessment in respect of a period of one year from the date of approval of these financial statements, based on the expected level of activity during 2021-22 and 2022-23 and income already secured. The charity had net current assets at 31 March 2021 and few recurring and fixed costs. The coronavirus pandemic has not hindered the charity’s operations in any meaningful way. The trustees have concluded that there are no material

38 360 Giving Annual Report and Financial Statements 2020-21

uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern, and the charity will have sufficient resources to meet its liabilities as they fall due.

d) Income recognition

Income is recognised in the period in which the charity is entitled to receipt, the amount can be measured reliably and it is probable that the funds will be received.

Income comprises donations and grants.

Donations and grants are recognised in the period in which the charity becomes legally entitled to the income, it is probable the income will be received, and that income can be measured with reasonable certainty. Income is deferred if the donor specifies conditions that the income is to be expended in a future period or where grants are awarded on an annual basis.

e) Expenditure recognition and the basis of apportioning costs

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs.

Expenditure on charitable activities includes all direct and indirect costs (including support and governance costs) associated with furthering the charitable purposes of the charity through the provision of its charitable activities.

All expenditure is stated inclusive of irrecoverable VAT.

f) Fixed assets

Fixed assets worth over £2,000 will be capitalised.

For the purposes of depreciation, the anticipated useful life of 360Giving’s assets are as follows:

Type of Fixed Asset Anticipated Useful Life Computer equipment 3 years Office equipment 3 years Furniture 5 years

360 Giving does not currently have any fixed assets worth over £2,000

360 Giving Annual Report and Financial Statements 2020-21

39

g) Pension costs

The charity contributes to pension arrangements on behalf of its employees in to a defined contribution scheme. The cost of the contributions is charged to the statement of financial activities over the period in which the cost is incurred.

h) Taxation

Provision for corporation tax is not necessary as the company is a registered charity. No deferred tax provision is required.

Tax recovered from voluntary income received under Gift Aid is recognised when the related income is receivable and is allocated to the income category to which the income relates.

i) Debtors

Debtors are recognised at the settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

j) Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

k) Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

l) Fund accounting

Unrestricted general funds are those funds which can be used freely to meet the charity’s charitable objects.

Designated Funds are unrestricted funds that have been earmarked by the trustees for a specific purpose.

Restricted funds are monies raised for a specific purpose or restricted to a specific purpose by the donor. Expenditure on activities furthering these purposes is charged to the appropriate fund.

40 360 Giving Annual Report and Financial Statements 2020-21

2. Donations

2. Donations
Grants
Esmée Fairbairn Foundation
Indigo Trust
Tudor Trust
Paul Hamlyn Foundation
Pears Foundation
Total Funds		 Unrestricted
Funds
£		 Restricted
Funds
£
-
-
-
-
-
-		 2021
Total Funds
£
150,000
150,000
30,000
25,000
-
355,000
2020
Total Funds
£
150,000
150,000
30,000
25,000
-
355,000








120,000
150,000
-
-
25,000
295,000

3. Income from charitable activities

Grants
National Lottery Community Fund
Lloyds Bank Foundation
Equalities Data Project
Tudor Trust
Other income
Total Funds		 Unrestricted
Funds
£
-
-
-
-
-
-		 Restricted
Funds
£

160,955

30,000

40,000

2,000

-

232,955		 2021
Total Funds
£


160,955

30,000

40,000

2,000

-

232,955		 2020
Total Funds
£

166,084
30,000
-
-
9,200

205,284

4. Expenditure on charitable activities

4.Expenditure on charitable activities
Notes
Staff costs
5
Project and delivery costs
Comms and running costs
Governance costs
6
Total expenditure		 Unrestricted
Funds
£
137,144
112,522
30,234
14,633
294,533		 Restricted
Funds
£

113,232

93,621

4,759

2,247

213,859		 2021
Total Funds
£

250,376

206,143

34,993

16,880

508,392		 2020
Total Funds
£
200,702
238,425
22,631
15,211

476,969

Comms and running costs are the support costs of the charity and are made up of central administrative costs such as computers and software, banking costs, team expenses and communications costs that are not related to specific projects such as social media.

360 Giving Annual Report and Financial Statements 2020-21

41

5. Staff costs

Wages and salaries
Social security costs
Pension costs
Other staff costs
Total staff costs		 2021
Total
£
210,460
22,385
9,840
7,691
250,376		 2020
Total
£

159,145

18,791

7,158

15,608

200,702

The average number of employees analysed by function was:

Charitable activities 2021
Number
5.3		 2021
FTE
4.7		 2020
Number
3.9		 2020
FTE
3.7

One employee earned £60,000 - £70,000 during the period (2020 - one).

Key management personnel of the charity in charge of directing, controlling, running and operating the charity on a day-to-day basis comprise the trustees and the Chief Executive. The total employment cost of the key management personnel for the period was £75,736 (2020 - £74,075). The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

Trustees' expenses represents the payment or reimbursement of childcare costs totalling £90 (2020: £nil) incurred by one trustee (2020: nil) relating to attendance at meetings of the trustees.

6. Governance costs

Audit fee
Accountancy
Trustee expenses
Other
Total governance costs		 2021
Total
£
6,000
10,790
90
-
16,880		 2020
Total
£

4,500

10,676

-

35

15,211

7. Taxation

360Giving is a registered charity and is therefore not liable to corporation tax on income derived from is charitable activities, as it falls within the various exemptions available to registered charities.

42 360 Giving Annual Report and Financial Statements 2020-21

8. Debtors

8.Debtors
Accrued income
Total debtors		 2021
Total
£
-
-		 2020
Total
£

7,000

7,000

9. Creditors

9.Creditors
PAYE and Social security costs
Trade creditors
Accruals
Total creditors		 2021
Total
£
-
18,722
30,138
48,860		 2020
Total
£

7,433

-

26,615

34,048

10. Funds

10.
Funds
Restricted funds
National Lottery Community Fund
Equalities Data Project
Lloyds Bank Foundation
Tudor Trust
Total restricted funds
Unrestricted funds
Designated – Development Fund
General funds
Total unrestricted funds
Total all funds		 At 1 April
2020
£
27,680
-
-
-
27,680

-
157,516
157,516		 Income
£


160,955

40,000

30,000

2,000

232,955

-

355,000

355,000

587,955		 Expenditure
£

(146,809)

(35,050)

(30,000)

(2,000)

(213,859)

-

(294,533)

(294,533)

(508,392)		 Transfers
£
At 31 March
2021
£

-
41,826

-
4,950

-
-
-
-
-
46,776

54,800
54,800
(54,800)
163,183
-
217,983
-
264,759




41,826

4,950

-

-

46,776




54,800
163,183

217,983

264,759
185,196

National Lottery Community Fund

The fund comprises money received for the delivery of the 2019-2022 strategy and to support funders to become more adept at gathering, interpreting, and sharing high-quality data in order to facilitate more collaborative, effective and strategic grantmaking.

Equalities Data Project

The fund comprises £20,000 received from the National Lottery Community Fund and £20,000 from the Esmée Fairbairn Foundation, for the development of a taxonomy to record the equity of funding on behalf of the DEI Data Group and develop a DEI extension to the 360Giving Data Standard.

360 Giving Annual Report and Financial Statements 2020-21

43

Lloyds Bank Foundation

The fund comprises money received for the delivery of the 2019-2022 strategy.

Tudor Trust

The fund comprises £2,000 for staff, volunteer and trustee wellbeing due to the additional pressures of the Coronavirus and associated lockdowns.

Development Fund

In the final quarter of 2020-21, the organisation was particularly impacted by COVID-19, with vacancies, sickness, and home-schooling demands affecting our capacity and that of key partners. As a result, a number of key projects due to be completed in March 2021 have had some of the external costs delayed until April and May 2021. These activities were well developed before year end and most had contracts in place committing to this expenditure. As result of these

commitments, these funds have been put aside in to a short-term Development Fund to more accurately reflect the financial position. These projects are primarily:

11. Analysis of net assets between funds

Current assets
Creditors
Total		 General
Funds
£
202,593
(39,410)
163,183		 Designated
Funds
£


54,800
-

54,800		 Restricted
Funds
£

56,226

(9,450)

46,776		 2021
Total Funds
£

313,619
(48,860)
264,759		 2020
Total Funds
£
219,244
(34,048)
185,196

12. Liability of members

The charity is constituted as a company limited by guarantee. In the event of the company being wound up, the members are required to contribute and amount not exceeding £10.

13. Related party transactions

Francesca Perrin and William Perrin are directors of the Indigo Trust. During the year £150,000 (2020 - £150,000) was received as a donation from the Indigo Trust.

Bonnie Chiu became a trustee in July 2021. Her employer, The Social Investment Consultancy, provided services to 360Giving between September 2020 and January 2021.

44 360 Giving Annual Report and Financial Statements 2020-21

14. Prior year figures

SOFA year to 31 March 2020

Unrestricted
Funds
£
Restricted
Funds
£
2020
Total Funds
£
Income from:


Donations
295,000
-
295,000
Charitable activities
9,200
196,084
205,284
Total income
304,200
196,084
500,284
Expenditure on:
Charitable activities
308,565
168,404
476,969
Total expenditure
308,565
168,404
476,969
Net income (expenditure) and
movement in funds
(4,365)
27,680
23,315

Reconciliation of funds:

Total funds brought forward
161,881
-
161,881
Total funds carried forward
157,516
27,680
185,196
Fund movement year to 31 March 2020
At 1 April
2019
£
Income
£
Expenditure
£
Restricted funds
National Lottery Community Fund
-
166,084
(138,404)
Lloyds Bank Foundation
-
30,000
(30,000)
Total restricted funds
-
196,084
(168,404)
Unrestricted funds
General funds
161,881
304,200
(308,565)
Total all funds
161,881
500,284
(476,969)
Analysis of net assets between funds year to 31 March 2020
Unrestricted
Funds
£
Restricted
Funds
£
2020
Total Funds
£
Current assets
191,564
27,680
219,244
Creditors
(34,048)
-
(34,048)
Total assets
157,516
27,680
185,196		 2019
Total Funds
£

345,000
170,976

515,976
460,564

460,564
55,412
106,469

161,881
At 31 March
2020
£

27,680
-
27,680
157,516
185,196
2019
Total Funds
£
182,266
(20,385)

161,881

360 Giving Annual Report and Financial Statements 2020-21

45

Reference Information

Board of Trustees

Francesca Perrin, OBE (Chair) Geoffrey Chapman (Treasurer) Anna de Pulford Manny Hothi Alice Casey (retired 30[th] June 2020) William Perrin, OBE (retired 8[th] December 2020) Farah Ahmed (from 8[th] December 2020) Jonathan Cracknell (from 8[th] December 2020) Danil Mikhailov (from 8[th] December 2020) Bonnie Chiu (from 15[th] July 2021) Jo Kerr (from 15[th] July 2021) Thrisa Haldar (from 15[th] July 2021)

Chief Executive Tania Cohen Company Secretary Helen Mason-Belshaw (until 25[th] February 2021) Tania Cohen (from 25[th] February 2021) Charity name 360 Giving (Trading as 360Giving) Registered and principal office c/o Esmée Fairbairn Foundation Kings Place 90 York Way London N1 9AG Company registration 09668396 (England and Wales) Charity registration number 1164883 Auditor Sayer Vincent LLP Invicta House 108-114 Golden Lane London EC1Y 0TL Solicitors Portrait Solicitors 21 Whitefriars Street London EC4Y 8JJ Principal bankers C Hoare & Co 32 Lowndes Street London SW1X 9HZ

46 360 Giving Annual Report and Financial Statements 2020-21

360 Giving Annual Report and Financial Statements 2020-21

47

c/o Esmée Fairbairn Foundation, Kings Place, 90 York Way, London N1 9AG

Telephone: 020 7812 3773 Website: www.threesixtygiving.org For general enquiries, email us at info@threesixtygiving.org. For help publishing your grants data, get in touch with support@threesixtygiving.org.

Say hello on Twitter at @360Giving. Charity Registration Number. 1164883 Company Limited by Guarantee. Registration (England and Wales): 09668396.

48 360 Giving Annual Report and Financial Statements 2020-21