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2021-03-31-accounts

UK Online Giving Foundation

Annual Report and Financial Statements

31 March 2021

Charity Registration Number 1164887

Contents

Reports

Reports
Reference and administrative information 1
Trustees
report		 2
Independent
s report on the
financial statements 10
Financial statements
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Principal accounting policies 17
Notes to the financial statements 20

UK Online Giving Foundation

Reference and administrative information

Trustees Johanna Tompsett Maria-Magdalena Duddridge Andrea Cutler Registered address Unit 9, Cirencester Office Park Suite C&D, Tetbury Road Cirencester Gloucestershire GL7 6JJ Charity registration number 1164887 Auditor Buzzacott LLP 130 Wood Street London EC2V 6DL Bankers HSBC Bank The Forum Malborough Road Old Town Swindon SN3 1QN Solicitors Charles Russell Speechlys Compass House Lypiatt Road Cheltenham GL50 2QJ

UK Online Giving Foundation 1

Year to 31 March 2021

Trustees

The Trustees present their annual report and the audited financial statements of the UK Online

The financial statements have been prepared by the Foundation in accordance with modified by the Charity Statement of Recommended Practice.

PRINCIPAL ACTIVITES AND OBJECTIVES

The UK Online Giving Foundation is a Charitable Incorporated Organisation registered in England and Wales on 16 December 2015 (Registration No. 1164887) on 16 December 2015 and became a registered charity on the same date. The charity is governed by its present constitution which was adopted on 16 December 2015.

The Foundation utilizes a donor-advised fund model to achieve its charitable objectives by retaining legal discretion and control over all donation funds received whilst providing donors with advisory privileges in respect of the eligible recipient charitable organisations that receive donations objective is to advance the charitable landscape by reducing the costs and overhead of donation processing through aggregation, automation, and outsourcing. The UKOGF is also dedicated to strengthening the connection between donors and charitable organisations.

ACHIEVEMENTS AND PERFORMANCE

During the fiscal year, the Foundation met its mission, objectives and activities by achieving the following:

During 2021, £111.5m was pledged to 31,945 charities globally.

n of improving the connection between donors and charitable organisations is evident in these achievements. The donors have access to a greater pool of charities to choose from, and in many cases receive a corporate match, thus increasing their charitable impact.

With a single monthly payment and the constituent management services provided through Benevity Inc., charities are no longer required to perform manually intensive administrative tasks or deploy resources to cash checks or verify donations in order to receive corporate matches or volunteer grants.

UK Online Giving Foundation 2

Year to 31 March 2021

Trustees

ACHIEVEMENTS AND PERFORMANCE (continued)

recipient charities, thus allowing them more time and money to focus on their mission and impact.

Our donors contributed £116,058,182 (2020: £71,018,481) to The UK Online Giving Foundation in the financial period 2020/21. The Foundation committed donations to over 31,000 organisations totalling £111,551,489 (2020: £70,382,031) in the same period.

MEASURING IMPACT AND PUBLIC BENEFIT

As a fundraising and grant making charity, providing public benefit is at the heart of the

The trustees seek to satisfy themselves that each donation made is in furtherance of a charitable purpose, and offers an identifiable benefit to the public or a significant section of the public and that no private benefit may arise to any person or company as a result.

nst what individual charities are seeking to achieve. In most cases, the charity is one of several funders and cannot therefore take sole credit for the outcomes achieved. The trustees aim to create impact by the better and this is where public benefit is most directly achieved.

GRANT MAKING POLICY

The Foundation has an International Grant Making Policy, which is as follows:

The Foundation acts as a donor-advised fund which allows donors to make charitable contributions efficiently and in support of legitimate and recognised charitable entities elsewhere . The policy sets out the ways in which the trustees of the UKOGF make decisions on which charities they can and cannot support in countries outside the United Kingdom, and establish the requirements of UKOGF for any third party supplier which the trustees engage to manage giving processes on their behalf, taking into account the need for efficiency in the making of grants, whilst ensuring that trustees exercise their responsibility for grants made.

in fact make irrevocable gifts to the UKOGF.

PLANS FOR THE FUTURE

We will continue to promote our charitable objects for the public benefit in the coming years, maintaining the lowest cost base possible.

UK Online Giving Foundation 3

Year to 31 March 2021

Trustees

GOVERNANCE

TRUSTEES AND KEY MANAGEMENT

The Trustee Board

The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. The trustees receive no remuneration for this work.

In accordance with the Charity Commis trustees who may have a personal interest in any matter before the trustees should declare that interest and maintained and updated annually. Trustees are required to disclose all relevant interests in arises.

The trustees endeavour to meet best governing practises, thus conducting a review of its governing document, and seeking professional external advice, as required from time to time. Further than this, the Foundation is not expecting to make any significant changes in the nature of its activities in the near future.

Appointment of new trustees

At any time, the charity has between three and six trustees who meet regularly in person. The identification of potential new trustees is carried out by the Board, the aim being to appoint those with the appropriate expertise and experience fo become a trustee of the charity, an individual is thoroughly briefed by their co-trustees on the background of the charity, day-to-day management, responsibilities of the trustees, current objectives and future plans. The trustees are also encouraged to attend training and update courses.

Any trustee can instigate processes to recruit new members. In some instances, this will be preceded by a skills audit and integrity due diligence so that individuals with the appropriate skills can be targeted and recruited.

Vacancies on the board will be advertised through agreed forums as approved by the board. The steps that are to be followed include:

UK Online Giving Foundation 4

Year to 31 March 2021

Trustees

GOVERNANCE (continued)

Management and administration

In order to achieve its charitable mission, at the lowest possible costs, the Foundation in 2015, partnered -as-a-Service (SaaS) providing technology solutions with global capabilities as its service provider. Based in Calgary, spaces, Benevity continues to be one of the fastest growing companies in Canada.

By selecting Benevity, the Foundation joined an established group of independent global charitable foundations that, in working with Benevity, supports more than 1.9 million charities worldwide, and connects with a community of more than 1.6 million donors and volunteers. down the administrative costs of processing funds and fulfill its charitable objectives.

The trustees of UKOGF have contractually agreed to a Master Service and License Agreement with Benevity which allows the trustees to delegate some operational to a minimum. Benevity provides the following services to UKOGF in support of the activities of the Foundation:

Financial risk management and vetting expertise;

Buzzacott LLP was appointed by the Board to carry out the audit of the statutory financial statements in October 2021.

UK Online Giving Foundation 5

Trustees Year to 31 March 2021

GOVERNANCE (continued)

Principal risks and uncertainties

In line with the requirements for trustees to undertake a risk assessment exercise and report on the same in their annual report, the Trustees have identified five fundamental areas where risks may occur:

Governance and management

Laws, regulations, external and environmental

Governance and management

f direction, skills and training of the trustees and good use of its funds.

The trustees consider their Chairperson and the Board of Trustees, their advisers and their administrators, to be well qualified and with a sufficiently broad range of experience to undertake their duties effectively and properly. The trustees are well briefed and committed to further the objects of the Foundation and have in place effective controls, policies and procedures to ensure, as far as possible, that the business of the Foundation is run properly, economically and safely.

The trustees are ultimately responsible for the policies, activities, and assets of the charity, They meet regularly to review developments with regard to the charity, to make important decisions, and the

Operational

appeals from charities, continuity of staff, lack of a disaster recovery policy, etc.

All grants, donations and disbursements are scrutinised and recommendations are submitted to trustees. The trustees themselves are sufficiently qualified to ensure that grants and donations are made in line with the aims and objectives of the Charity. The risk of making inappropriate grants or donations is minimised by conducting appropriate due diligence checks. Where appropriate, all donations to the Foundations are subject to anti-money laundering checks.

Appropriate checks on the sources of funding and recipients are made on a monthly basis, prior to disbursements. Our administrators utilise electronic monitoring of watch lists to prevent fraud, money laundering or funding of terrorist organisations and the trustees require these to be audited regularly.

UK Online Giving Foundation 6

Year to 31 March 2021

Trustees

GOVERNANCE ( continued)

Principal risks and uncertainties (continued)

Financial

spending, inaccurate accounting, and inappropriate investment policies.

The Foundation has significant income and expenditure, and the trustees have confidence that all of the necessary accounting processes and banking authorities are in place in order to protect the Foundation, and the charities they serve. Budgets and management accounts are prepared by Benevity for Board meetings and the audit. The trustees believe that the reports they receive, and the scrutiny of their advisers leave little risk of misinterpretation or mismanagement.

Reputational

with unsuitable charities, or with inappropriate activity.

The trustees believe that there is little risk to the reputation of the Foundation through its association with its advisers or with its beneficiaries.

with unsuitable charities or with inappropriate activity.

Laws, regulations, external and environmental

Laws, regulations, external and environmental looks at the effects of government policies and the consequences of non-compliance with applicable laws and regulations.

Having assessed the major risks to which the Foundation is exposed, in particular those relating to its finances, the trustees believe that by ensuring that controls exist over key financial systems and by examining the operational and business risks faced by the Foundation, they have established effective systems to mitigate those risks.

UK Online Giving Foundation 7

Year to 31 March 2021

Trustees

BUSINESS REVIEW AND FINANCIAL RESULTS

At the end of the year the Foundation had assets of £15,012,099 (2020: £13,548,802) and liabilities of £8,580,614 (2020: £10,965,319). The net funds of the Foundation were £6,431,485 (2020: £2,583,483). It is not the intent of the Foundation to retain funds at the end of the year, all funds are considered to be restricted funds.

Donations received of £116,058,182 were significantly higher than the prior year (2020: £71,018,481) due to increased donation volume. Donations to charities and administrative expenses were also higher for the year compared to the prior for the same reason. These amounts are as follows:

2021 (£) 2020 (£)
Donations to charities 111,551,489 70,382,031
Cost of generating funds 2,081,364 1,326,851

Reserves policy

The Foundation has a Reserves and Investment Policy, which is as follows:

The Foundation should endeavour to hold in reserve sufficient funds to cover budgeted costs for the current financial year and to maintain an appropriate budget for future years to cover longer term commitments.

While the charity does not hold significant funds there is no real requirement for an investment policy. Any funds held in reserves can be deposited in an interest-bearing account.

Trustees are under a duty to keep under review the arrangements by which management of the charity's investments is delegated. In particular, the trustees are required specifically to consider whether there is any need to create, revise or replace the policy statement. If the trustees consider that there is a need to create, revise or replace the policy statement, they are duty bound to do so.

UKOGF receives an administrative fee of 1% of donation volume, intended to pay certain operating expenses (bank account fees, bank or payment processor costs with grant checks or electronic payments, mailing costs, insurance costs, audit and tax preparation costs and legal fees). If administrative fees are insufficient to pay for the operating costs, UKOGF invoices Benevity, Inc for the shortfall.

Going concern

Despite many clients being affected by the global pandemic, the Foundation has seen an increase in donation volume and revenue since the global pandemic started due to clients running COVID-19 campaigns. As part of the Master Service Agreement with Benevity International Ltd, UKOGF will invoice Benevity International Ltd for operational deficits, in order that the Foundation operates at breakeven.

The trustees of the Charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern.

UK Online Giving Foundation 8

Year to 31 March 2021

Trustees

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time in the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

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

Trustee Date:

UK Online Giving Foundation 9

on the financial statements 31 March 2021

Trustees of The UK Online Giving Foundation

Opinion

We have audited the for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

have been prepared in accordance with the requirements of the Charities Act 2011.

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 are independent of the charity in accordance with the ethical requirements that are relevant to 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 trust concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. However, because not all future events or conditions can be predicted, this statement is not a guarantee as continue as a going concern.

UK Online Giving Foundation 10

on the financial statements 31 March 2021

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our report thereon. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more responsible for the preparation of the financial statements which 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 responsib 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 charity or to cease operations, or have no realistic alternative but to do so.

UK Online Giving Foundation 11

on the financial statements 31 March 2021

Our responsibilities for the audit of the financial statements

A further description of our responsibilities for the audit of the financial statements is located www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

UK Online Giving Foundation 12

on the financial statements 31 March 2021

Use of our report

the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken quired to state to them as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott LLP 130 Wood Street London EC2V 6DL

Buzzacott LLP is eligible to act as an auditor under the terms of Section 1212 of the Companies Act 2006

Dated: 25 January 2022

UK Online Giving Foundation 13

Statement of financial activities (including income and expenditure account) Year to 31 March 2021

Notes Restricted
funds
£		 2021
Total
restricted
funds
£		 2020
Total
restricted
funds
(as restated)
£
Income
Donations
Other income
Interest
Total
Expenditure
1
Cost of generating funds
Charitable activities
Total
Net income
Realised and unrealised exchange gains
Net movement in funds
Reconciliation of funds
5
Total fund balances brought forward (as
restated)
Total fund balances carried forward		 116,058,182
1,176,577		 116,058,182
1,176,577		 71,018,481
1,517,221
200
117,234,759 117,234,759 72,535,902
2,081,364
111,551,489		 2,081,364
111,551,489		 1,326,851
70,382,031
113,632,853 113,632,853 71,708,882
3,601,906
246,096		 3,601,906
246,096		 827,020
103,936
3,848,002
2,583,483		 3,848,002
2,583,483		 930,956
1,652,527
6,431,485 6,431,485 2,583,483

UK Online Giving Foundation 14

Balance sheet 31 March 2021

Notes 2021
£		 2021
£		 As restated
2020
£		 As restated
2020
£
Current assets
Debtors
2
Cash at bank and in hand
Liabilities
Creditors: amounts falling due
within one year
3
Net current assets
Funds
5
Restricted funds
Total funds		 7,559,763
5,956,440		 6,431,485 9,887,095
3,661,707		 2,583,483
13,516,203
(7,084,718)		 13,548,802
(10,965,319)
6,431,485 2,583,483
6,431,485 2,583,483

The financial statements on page 14 to 22 were approved by the trustees, and authorised for issue on and are signed on their behalf by:

Trustee

UK Online Giving Foundation 15

Statement of cash flows Year to 31 March 2021

Note 2021
£
2020
£
Net cash flows from operating activities
Net cash provided by operating activities
A
Reconciliation of net cash flow to movement in net
funds:
Change in cash and cash equivalents in the reporting
period
Change in cash and cash equivalents due to exchange rate
movements
Cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting
period		 2,048,637
1,807,066
2,048,637
1,807,066
246,096
103,936
3,661,707
1,750,705
5,956,440
3,661,707

A Reconciliation of income to net cash flow from operating activities

Net income for the year (as per the statement of financial
activities)
Adjusted for:
Decrease (increase) in debtors
(Decrease) increase in creditors
Net cash provided by operating activities		 2021
£		 As restated
2020
£
3,601,906
2,327,332
(3,880,601)
2,048,637		 827,020
(2,570,743)
3,550,789
1,807,066

The charity does not hold any debt, and as such a separate reconciliation of net debt statement has not been included within the statement of cash flows.

UK Online Giving Foundation 16

Principal accounting policies 31 March 2021

The UK Online Giving Foundation is a Charitable Incorporated Organisation registered in England and Wales on 16 December 2015 (registration number 1164887).

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

Basis of preparation

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

These financial statements have been prepared for the year to 31 March 2021. The financial statements are presented in sterling and are rounded to the nearest pound.

The financial statements of the charity, which is a public benefit entity under FRS 102, have Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in of

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the trustees to make significant judgements and estimates. The trustees do not consider that there are any sources of estimation uncertainty or any key judgements made in the preparation of the financial statements.

Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

As part of the MSA with Benevity International Ltd, UKOGF will invoice Benevity International Ltd for any operational deficits, in order that the Foundation operates at breakeven.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income comprises donations and fees from donors.

UK Online Giving Foundation 17

Principal accounting policies 31 March 2021

Income recognition (continued)

Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

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

Expenditure recognition

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 and includes attributable VAT which cannot be recovered. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated to the applicable expenditure heading.

Expenditure on charitable activities comprises donations.

Costs of generating funds comprise the cost management services provided through Benevity Inc., bank service charges, merchant fees and allocated support costs.

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of financial and governance procedures.

Governance costs comprise all costs relating to the public accountability of the charity and its compliance with regulation and good practice. These costs include costs relating to the independent examination of the financial statements and legal fees.

Support costs and governance costs are all allocated to the cost of generating funds.

Foreign exchange

Receipts and payments which occur in foreign currencies are included in the financial statements at the amount into which they are converted in sterling, using the exchange rate on the day in which the transaction occurs.

UK Online Giving Foundation 18

Principal accounting policies 31 March 2021

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.

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.

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.

Fund accounting

Unrestricted funds represent those monies that are freely available for application towards achieving any charitable purpose that falls

Restricted funds relate to monies received from donors where either specific donor instruction has been received, or for which the charity is awaiting donor instruction.

Restatement of prior period comparatives

Following review of income received by the charity against the income recognition criteria of the Charity SORP, it was determined that funding received in advance of donor instruction, previously recognised at the point donor instruction was received and held as credit balances within debtors at the end of each financial period, was probable at the point the donation had been paid the charity and should therefore have been recognised as inyear income. In addition, the charity has considered the terms of donations and recategorised donations received as restricted on the basis of donor advice imposed on the donations.

The impact of these adjustments is as follows:

As originally
stated 2020
£		 Impact of
restatement
£
1,364,646
2,802,617
2,802,617
1,437,971		 As restated
2020
£
Income for the period
Debtors
Funds (at 31 March 2020)
Funds (at 1 April 2019)		 71,171,256
7,084,478
(219,134)
214,556		 72,535,902
9,887,095
2,583,483
1,652,527

UK Online Giving Foundation 19

Notes to the Financial Statements Year to 31 March 2021

1 Expenditure

Expenditure
Cost of
generating
funds
£
Charitable
activities
£		 Governance
costs
£		 2021
Total
restricted
funds
£		 2020
Total
restricted
funds
£
Bank service charges
Donations awarded to
charities
Administration fees
Year end accounts
and audit
Merchant fees
Other disbursement
costs		 116,670
111,551,489
1,620,065
294,423
34,673
2,065,831
111,551,489		 15,533
15,533		 116,670
111,551,489
1,620,065
15,533
294,423
34,673
113,632,853		 65,812
70,382,031
1,106,217
3,250
124,659
26,913
71,708,882
Comparative information (as restated) Cost of
generating
funds
£		 Charitable
activities
£		 Governance
costs
£
3,250
1,070
4,320		 2020
Total
restricted
funds
£
Bank service charges
Donations awarded to charities
Administration fee
Year end accounts and audit
Merchant fee
Other disbursement costs		 65,812
1,106,217
124,659
25,843
1,322,531		 70,382,031
70,382,031		 65,812
70,382,031
1,106,217
3,250
124,659
26,913
71,708,882

Costs are allocated directly to the activities to which they relate, where applicable. Costs for 2020 have been reanalysed to allocate appropriate administration fees paid to Benevity Inc. in respect of transaction processing, bank costs, merchant fees and administration costs to the cost of generating funds.

Accrued donations brought forward
Donations paid to charities
Accrued donations carried forward
Donations awarded to charities		 2021
£
(4,330,149)
114,570,384
1,311,254
111,551,489		 2020
£
(4,881,044)
70,932,926
4,330,149
70,382,031
Net income
Net resources are stated after charging (crediting):
. Current year
. Prior year under accrual		 2021
£
15,533
254		 2020
£
3,250

UK Online Giving Foundation 20

Notes to the Financial Statements Year to 31 March 2021

2 Debtors

Debtors
2021
£		 As restated
2020
£
Accounts receivable
Due from Charitable Giving
Funds in transit		 7,512,484
40,000
7,479
7,559,763		 9,846,162
40,933
9,887,095

3 Creditors: amounts falling due within one year

----- Start of picture text -----
2021 2020
£ £
Accounts payable 5,773,464 4,174,497
Accrued donation liabilities 1,311,254 4,330,149
Due to Benevity, Inc. 1,286,095
Due to Online Giving Foundations 31,370
Funds in transit 1,143,208
7,084,718 10,965,319
----- End of picture text -----

4 expenses

No trustee received any remuneration from the Charity for their services during the year or prior period.

5 Movement in funds

Movement in funds
2021
Total
restricted
funds
£		 2020
Total
restricted
funds
£
Balance as at 1 April (as restated)
Income (as restated)
Expenditure
Realised and unrealised exchange gains
Balance as at 31 March (as restated)		 2,583,483
117,234,759
(113,632,853)
246,096
6,431,485		 1,652,527
72,535,902
(71,708,882)
103,936
2,583,483

Restricted funds comprise funds held for the purpose of making donations and programme related investments. There are no individually material categories of restriction, and restrictions may relate to geographical area, purpose of donation or nature of the work of the intended donation recipient.

UK Online Giving Foundation 21

Notes to the Financial Statements Year to 31 March 2021

6 Related party transactions

The Trust Partnership Ltd is a group company with two subsidiaries as at 31 March 2021: Trust Accounting Ltd and The Trust Partnership (Foundations) Ltd.

The Trust Partnership Ltd provides pro bono administration services to the UK Online Giving Foundation. Andrea Cutler is Office Manager for the group company, while Johanna Tompsett and Maria-Magdalena Duddridge worked for The Trust Partnership (Foundations) Ltd during the year. Johanna Tompsett left employment with The Trust Partnership (Foundations) Ltd in August 2021.

Trust Accounting Ltd provided year end accounts preparation services to the UK Online Giving Foundation for the previous year, ended 31 March 2020. No trustees worked for Trust Accounting Ltd during the year or the prior period.

Key management personnel

The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. The trustees receive no remuneration.

The Trustees were all employees of the Trust Partnership Ltd, during the years ended 31 March 2021 and 31 March 2020.

UK Online Giving Foundation 22

Appendix 1 Year to 31 March 2021

Donations were made during the period to the following countries:

----- Start of picture text -----
2021 2020
Value of Value of
No. of donations No. of donations
Country donations £ donations £
----- End of picture text -----

Afghanistan 21 33,986 5 12,979
Albania 2 212
Argentina 580 355,620 162 258,791
Armenia 147 1,357,438 7 2,080
Australia 5,478 2,769,382 2,136 7,307,516
Austria 436 581,801 150 130,308
Bahamas 18 4,962 10 29,383
Bangladesh 32 49,712 2 1,803
Belarus 181 101,943 47 31,596
Belgium 784 809,304 187 127,604
Bermuda 5 1,157
Bhutan 1 1
Bolivia 19 12,519 5 11,727
Bosnia and Herzegovina 22 12,079 7 9,800
Botswana 6 2,630 1 7,803
Brazil 2,306 2,017,361 383 872,023
Bulgaria 667 227,605 245 98,617
Burkino Faso 2 8,909
Cambodia 89 69,678 58 69,208
Cameroon 62 33,529 15 18,629
Canada 10,108 6,090,027 3,194 3,611,407
Cape Verde 5 734 1 269
Cayman Islands 4 7,468
Chile 140 129,951 46 136,637
China 1 201
Colombia 509 288,591 61 113,443
Congo, Democratic Republic 6 35,292
Costa Rica 186 127,449 23 15,686
Croatia 191 92,806 38 28,569
Cyprus 10 1,374
Czech Republic 603 368,034 165 197,300
Denmark 203 113,476 67 31,725
Dominican Republic 6 1,095
Ecuador 27 14,451
Egypt 240 241,499 14 6,710
El Salvador 2 106
Estonia 59 33,485 13 5,289
Ethiopia 34 24,924 14 10,509
Fiji 6 756 10 16,158
Finland 280 287,524 105 53,532
France 4,954 3,451,051 1,519 2,343,363
Gambia 4 358 1 1,029
Georgia 46 17,839 11 10,874
Germany 4,362 4,128,414 1,705 2,023,252
Ghana 50 53,819 20 5,932
Greece 392 478,268 95 222,056
Guatemala 17 17,600 7 20,382

UK Online Giving Foundation 23

Appendix 1 Year to 31 March 2021

----- Start of picture text -----
2021 2020
Value of Value of
No. of donations No. of donations
Country donations £ donations £
Guernsey 55 9,732 13 2,692
----- End of picture text -----

Guernsey 55 9,732 13 2,692
Guinea 2 175
Honduras 20 34,313 3 677
Hong Kong 1,213 1,100,676 460 817,031
Hungary 878 339,536 331 146,678
Iceland 43 16,695 4 3,050
India 11,578 8,443,672 2,157 3,227,280
Indonesia 398 207,858 105 233,698
Iraq 2 75
Ireland 4,843 4,161,607 1,696 1,755,801
Israel 3,695 2,893,686 836 1,159,995
Italy 2,508 2,540,775 915 1,106,104
Ivory Coast 5 17,029
Jamaica 6 1,278
Japan 1,811 1,413,838 587 1,136,548
Jersey 79 23,953 12 7,774
Jordan 26 25,592
Kazakhstan 24 27,114 4 11,713
Kenya 221 412,696 59 123,934
Kuwait 4 116
Kyrgyzstan 6 968
Latvia 75 25,161 8 4,036
Lebanon 1,350 5,192,326 33 45,093
Lithuania 87 28,917 16 5,232
Luxembourg 64 27,607 18 17,238
Macao 45 8,624 29 9,517
Macedonia 6 5,581 2 4,838
Malawi 6 16,535 2 1,324
Malaysia 744 951,645 198 223,806
Mali 7 25,532
Malta 4 389 3 355
Mauritius 27 6,473
Mexico 1,600 1,522,381 404 595,536
Moldova, Republic of 19 32,802 5 10,546
Morocco 46 27,869 13 19,901
Myanmar 2 69
Nepal 37 52,715 29 31,355
Netherlands 2,066 1,698,803 623 531,017
New Zealand 488 224,148 215 442,631
Nigeria 207 429,888 40 209,273
North Macedonia 2 2,433
Norway 110 44,705 53 46,337
Pakistan 270 206,386 45 63,856
Palestine 37 59,767 1 35
Panama 10 4,545 1 385
Paraguay 11 4,785 2 2,076

UK Online Giving Foundation 24

Appendix 1 Year to 31 March 2021

----- Start of picture text -----
2021 2020
Value of Value of
No. of donations No. of donations
Country donations £ donations £
Peru 68 77,373 7 12,699
Philippines 1,356 1,060,436 367 394,291
Poland 2,143 1,096,460 683 704,420
Portugal 401 179,285 109 50,475
Qatar 2 107
Romania 1,669 923,334 557 491,678
Russian Federation 1,234 565,031 190 235,795
Saudi Arabia 1 20 1 164
Senegal 26 62,752 10 380,132
Serbia 229 104,279 33 21,579
Singapore 5,683 4,351,914 1,655 1,604,878
Slovakia 348 162,965 128 83,209
Slovenia 60 33,432 6 4,353
South Africa 823 1,254,692 283 548,707
South Korea 457 729,070 211 416,755
Spain 3,258 1,933,811 916 815,987
Sri Lanka 29 21,511 25 333,864
Swaziland 1 192 3 272
Sweden 688 539,155 225 188,093
Switzerland 2,047 2,312,135 663 1,225,447
Taiwan 1,908 2,047,791 599 923,264
Tanzania 36 20,665 6 7,771
Thailand 542 226,141 93 143,242
Togo 1 166
Trinidad and Tobago 65 26,123 3 7,854
Tunisia 30 10,124 5 2,268
Turkey 908 901,627 242 705,915
Turks and Caicos Islands 2 316 3 1,787
Uganda 92 80,483 23 43,937
Ukraine 465 120,323 54 73,051
United Arab Emirates 13 12,099
United Kingdom 15,201 8,248,507 5,330 6,131,928
United States 39,287 27,635,015 4,986 24,926,763
Uruguay 7 16,342 3 505
Venezuela 5 1,201 3 1,355
Vietnam 142 67,676 34 44,478
Yemen 14 2,422
Zambia 13 5,387
Zimbabwe 10 5,537 5 1,458
147,285 111,551,489 36,925 70,382,031
----- End of picture text -----

UK Online Giving Foundation 25

UKOFG Financial Statements 2021 Final Audit Report 2022-01-20 Created.. 2022-01-20 By.. Yae Walli5 lywalli5@benevity.c¢Knl Sl8lus'. SigrEd Tr8nsaclion ID.. CBJCHBCNABWSzEqSqxia_Oiowrw9UDlyKIUuzRPu7z "UKOFG Financial Statements 2021" History Document created by Yae Wallis lywallis@benevity.coml 2022-01-20- 10.'11.'11 AM GMT . Document emailed to Jo Tompsett O'ohanna.lompsett@googlemail.coml for signature 20L-01-20- 10..22..37 AM GMT Email viewed by Jo Tompsett tiohanna.tompsell@googlemail.coml 2022-01-20- 10".24".42 AM GMT- IP addres8." 66.249.93.85 DocLJment e-signed by Jo Tompselt (iohanna.lompsetl@googlemail.coml Signature Dale.. 2022-01-20- 12..36..53 PM GMT- Time Source.. server- IP address.. 81.96.241.102 Agreement completed. 2022-01-20- 12..36..53 PM GMT