Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
The UK Online Giving
Foundation
Annual Report and Financial
Statements
31 March 2025
Charity R89i8tration Numb8r
1164887

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Contents
Reports
Reference and administrative information
Trustees, report
Independent auditorfs report on the financial 14
statements
Financial statgments
Statement of financial activities
18
Balance sheet
19
Statement of cash flows
20
Principal accounting policies
21
Notes lo the financial slalements
24
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees, report Year to 31 March 2025
Trustees
Johanna Tompsell (appointed.. 16 July 2015.. resigned 26
March, 20251
Maria-magdalena Duddridge (appointed.. 16 July 2015.,
resigned." 25 June 20241
Andrea Cuder (appointed.. 22 September 2016., resigned..
25 June 20241
Richard Donner (appointed." 20 January 20231
Abigail Bulley lappoint8d.. 20 Janu8ry 20231
Simon H8slam lappoinled.. 19 October 20231
Karest Lewela lappoint8d.. 25 June 20241
Simon Politzer (appointed.. 25 June 20241
James Kliffen (appointed.. 26 March 20251
January 26, 2026
January 2026
Effectlve date
Registered address
clo Womble Bond Dickinson LLP
4 More London Riverside
London
SE1 2AU
Charity Registration Number 1164887
Auditor
Buzzacotl Audit LLP
130 Wood Street
London
EC2V 6DL
Bankgrs
HSBC Bank
The Forum
Madborough Road
Old Town
Swindon
SN31QN
Citibank
33 Canada Square
London
E14 5LB
Solicitors
Womble Bond Dickinson LLP
4 More London Riverside
London
SE1 2AU
Webslte
www.ukogf.org

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
The Trustees present their annual report and the audited financial statements of The UK Online Giving
Foundation I'UKOGF" or'the Foundation'l for the year ended 31 March 2025.
The financial statements have been prepared in aC￿rdan￿ with accounting standards issued by the
Fin8nci81 Reporting Council, including FRS 102 (The Financial Reporting Standard applicable in the UK
and Republic of Ireland "FRS 102.1 as modified by the Charity Stslement of R￿0MMended Practice.
PRINCIPAL ACTIVITIES AND OBJECTIVES
The UK Online Giving Foundation is a Chsrilable Incorporated Organisation registered in England and
Wales on 16 De￿mber 2015 IRegislration No. 11648871 and became a registe￿d charity on the same
date. The Foundation is governed by ils conslilulion which was adopted on 16 September 2015 and
amended on May 25, 2022.
The Foundstion operates a donor-advised fund model to achieve its charitable objectives by retsining
legal disc￿li0n and control over all donations ￿ceIVed whilst providing donors with the ability to advise
on how their donations should be distributed to eligible recipient charitable organisations around the world.
The Foundation's objective is lo promote the effectiveness and efficiency of charities and the effective
use of resources by charitable and non-charitable bodies in any part of the world for purposes that are
exclusively charitable in accordance with the laws of England and Wales. The UKOGF is also dedicated
lo strengthening the connection between donors and charitable organisations.
Since its creation, the Foundation has partnered with Benevity Inc 1'8enevily'l as its service provider.
Benevity is a s0fb￿are-as-a-SerVi￿ ISaaSI business providing technology solutions with global
c4pabililies. Based in Calgary, Canada, with 17 years, experience in the global corporate phil8nlhropy
and workplace giving spaces. Benevity is the leader in global purpose software. In partnering with
Benevity, the Found81ion joined a group of independent global charitable foundations that Iwith Benevityl
SUPFX)rts over 2.45 million charities worfdwide, and connects with a community of more than 18.7 million
eligible donors and volunteers. Benevty has bLJiIt relationships with corporates all over the world which
enable the corporates and their employees to decide on the level of donation they wish to make, and
allows them lo recommend the charity or charikn'es that they wish lo receive funds from the relevant
foundation.
By leveraging Benevily's technology and specialized support, the Foundation enables recipient charitsble
organisations lo drive down administrative costs of processing donations, while hamessing a greater
online audience resulting in more awareness and greater donation volumes.
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
ACHIEVEMENTS AND PERFORMANCE
During the financial year, the Foundation mel its mission, objectives and activities by achieving the
following-
In the financial year ended 31 March 2025, UKOGF had almost 453,000 beneficiary organisations
in good standing with their applicable local charitable andlor tsx authorities in the charity database, all
eligible to receive donor-advised contributions during the period
The Foundation received £161 m in donations from 521 corporations and their employees. Of this
total, £24.2m was received from individual donors via corporate giving programs
During the financial year ended 31 March 2025, £159m was donated lo over 80,000 charities in
over 150 different countries
The UKOGF'S work towards ils mission of improving the connection between donors and charitable
organisations is evident in these achievements. The donors have access lo a greater pcx)l of charities lo
choose from, and in the majority of cases, individual donors receive a corporate match from their
employer, thus increasing their charitable impad.
With a single monthly payment, logetherwith data available via the Benevity portal, charities are no longer
required lo perform manually intensive adminislralive tasks or deploy reSoUr￿S to cash cheques or verify
donations in order to receive corporate malches or volunteer grants. The Foundation's model (working
wth Benevilyl of aggregation and electronic payments reduces costs lo the recipient charities. thus
allowing them more lime and resources lo focus on their own mission and impact.
The Master Services Agreement IMSAI in pl8ce between UKOGF and Benevily slates that Benevily shall
ensure ils agreements with donors who are provided aC￿SS to the Benevily Platform provide that UKOGF
shall re￿1ve an unrestricted donation from donors at a specified percentage of all amounts that are
contributed lo UKOGF via the Benevily Plaffom and that 811 merchant account fees and similar
Iransaclional fees charged by secure payment providerlsl may be deducted by UKOGF from
disbursements made to charities and nonprofits unless such fees are covered by a donor. In the financial
year ended 31 March 2025, such amounts retained by UKOGF amounted to 2.740/0 of all donations in the
year Iprior year was 1.730/.l. Direct govemance costs of £71 k represented 0.040/0 of donations in financial
2025 {prior year was £104k or 0.050/0}.
MEASURING IMPACT AND PUBLIC BENEFIT
As a fundraising and grant making charity, providing public benefit is at the heart of the Foundation's
activities.
The Trustees seek lo satisfy themselves that each donation made to a recipient 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 material private benefit may arise to any person or company as a result.
Most of the Foundation's grant making is reactive and is measured against what individual charities are
seeking lo achieve. In most cases, the Foundation is one of several funders and cannot therefore lake
sole credit for the outcomes achieved. The Trustees aim to create impact by supporting work that changes
people's lives for the belter and this is where public benefit is most directly achieved.
To comply with ils obligation to lake ￿8$Onable steps lo confim) that recipient organisalions are using the
funds for charitable purposes las defined by UK lawl, the Trustees require Benevity to carry out an annual
'Use of Funds, verification exercise. Given that the Foundation made donations lo over 80,000 recipient
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
organisations this year across more than 150 countries, the campaign focuses on those that have
received over £100 in disbursements. Each organisation involved is asked lo attest that the funds have
been used exclusively for charitable purposes in accordance with UK law. The annual Nonprofit Use of
Funds outreach campaign is currently underway for financial year 2025, covering 980/0 of the Disbursed
Value (DVI and involving over 24,000 nonprofit organisations and charities. Any nonprofit that does not
respond lo the outreach and any nonprofit who responds by slating that some or all of the funds have not
been Ljsed for charitable purposes will be deactivated from the platfomi and deemed ineligible to re￿1ve
funds from UKOGF until il has confimed that all previously received funds were used for charitable
purposes or (for those who stated that some or all of the funds re￿iVed had not been used for charitable
purposes) that all future received funds will only be used exclusively for Charitable purposes .The final
outcomes of this initiative will appear in next yearfs reports.
Flnanclal 2024 Campalgn Outcome (Aprll 1, 2023- March 31, 2024):
The financial 2024 campaign was aimed at all organisalions that received £8,000 or more in annual
disbursements from the Foundation. This encompassed approximately 3,795 recipient organisations.
The exercise accounted for 91°A of the total value of grants made by the Foundation lo foreign non-profit
organisations during the financial year. By the conclusion of the campaign, a 95910 response rale was
achieved. A lolal of 202 organisations remained unresponsive and, as a result, were deadivaled on the
platform. These organisalions are no longer eligible to receive funds from UKOGF until they confirm that
the funds previously received were used for charitable purposes.
FUNDRAISING STATEMENT
The Foundab"on works with Benevily and other partner organisations lo ensure that donors are aware of
the work of the Foundation and the charities and non-profits Ihat it is willing lo make grants to. The
Foundation ensures that donors are not placed under pressure or obligation lo donate to the Foundation
and fundraising activities are monitored as part of the agreement in place with Benevity and partner
organisations to ensure that a high standard is maintained. Benevily follows a Code of Conduct for how it
promotes the Foundation and ils servI￿s, and the Foundation monitors fundraising work undertaken by
others by managing the contracts.
During the year, the Foundation received a total of zero complaints. Any complaints will be reviewed and
appropriate resolution perfomed.
RISK MANAGEMENT POLICY
The Foundation has a Policy Manual, which includes a Risk Management Policy..
The UKOGF aims lo be effective and gfficient for the charity sector by maximizing donor contributions lo
eligible charities through a Donor Advised Fund. With the prirnary aim of being a simple and efficient
channel through which charitable donations can flow to registered charities, the UKOGF capries out ils
mission. The UKOGF believes that effective risk management enables it to cary out its mission while
proactively reviewing, understanding, miligaling, and a¢￿ptIng relative risks lo meet ils objectives.
PLANS FOR THE FUTURE
The Foundation will continue to promote its charitsble objects for the public benefit in the coming years,
maintaining the lowest cost possible.
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
GOVERNANCE
Trustees and key management
Tho Trusteg Board
The Trustees consider that they comprise the key management of the Foundstion in charge of directing
and controlling the Foundation. The Trustees re￿1ve no remuneration for this work.
In accordance with the Charity Commission's recommendation that Foundation Trustees who may have
a personal interest in any maller before th8 Trustees should declare that interest and refrain from taking
part in any discussion relating to it, a Register of Trustee's interests is maintained and updated annually.
Trustees are required to disclose all relevant interests in accordance with the Foundation's policy and
wthdraw from decisions where a conflict of interest arises.
The trustees endeavour to meet best govemance practices, and conduct a review of the Trustee Board's
governing document from lime lo time, and seek professional external advi￿ when appropriate. The
Foundation is not expecting lo make any significant changes in the nature of ils activities in the near
futur8.
Appointment of new Trustees
Al any lime, the Foundation has between three and six Trustees who meet regularly in person or via video
conferencing. The idenlificalion of potential new Trustees is Carried out by the Board, Ihe aim being to
appoint those with the appropriate expertise and experience for the Foundation's work. On agreeing lo
become a Trustee of the Foundation, the new Trustee is thoroughly briefed by their co-Trustees on the
background of the Foundation, day-ltrday management, responsibilities of the Trustees, current
objectives and future plans. The Trustees are also encouraged lo allend appropriate external courses.
Any Trustee can instigate processes lo 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 wll be advertised through agreed forums as approved by the board. The steps
that are to be followed include..
Advertisement of Role
bl
Selection process las agreed by the Bo8rd}
Selected candidate lo be elected and onboarded.
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
GOVERNANCE Icontinuedl
Management and administration
The Trustees of the Foundation have entered into a Master Li￿nSe and Services Agreement {MLSAI with
Benevity which allows the Trustees lo delegate most activities lo Benevily in line with keeping the
Foundation's operating costs lo a minimum. This MLSA is periodically reviewed and renewed with the
Trustees ensuring that the relationship with Benevily remains in the best interests of the Foundation.
Benevily provides the following SeNi￿S to the Foundation..
Vetting and due diligence expertise on potential beneficiary causes around the world.,
Financial risk management-
Financial operations lo facilitate monthly donations lo beneficiary causes in line with the
Foundation's objects and the expressed wishes of donors.,
Supporting activities ￿qUired by the Foundation for the maintenance of ils charitsble slalus,
including supporting the Board of Trustees in ensuring good govemance and compliance with applicable
laws in England and Wales.
Providing input into regular Trustee meetings including providing relevant reports and other good
governance support.,
Engaging with the Foundation's solicitors, acc()untanls, auditors and any other 3rd party agents
andl or professional advisors as authorised by the Board of Trustees., and
Assisting with the preparation of the Annual Statutory ReFX)rts.
Buzzacott Audit LLP has been appointed by the Board to cary out the independent external audit of the
statutory accounts.
In order to gain fuller transparency and gain a deeper understanding of the processes delivered by
Benevity under the Master servI￿s Agreement IMSAI, the UKOGF Board engaged an independent
consultant to conduct a process mapping and risk assessment. This review was completed and a new
revised MSA agreement executed in August 2025. The independent consultsnl will Continue working on
dats agreements and the further risk mitigation through additional insurance reviews.
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
GOVERNANCE Icontinuedl
Principal risks and uncertainties
In line with the requirements for Trustees lo 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..
Governan￿ and management
Operational
Financial
Repulalional
Laws, regulations, external and environmentsl
Govemance and management
'GOVernan￿ and management, is the risk the Foundation might suffer from lack of direction, skills and
training of the Trustees and good use of its funds.
The Trustees consider their Chair and the Board of Trustees wllectively, their advisers and their
administrators, to be well qualified and with a sufficiently broad range of experience lo undertake their
duties effectively and properly. The Trustees are well briefed and committed lo further the objectives of
the Foundation and have in place effective controls, policies and procedures to ensure, as far as
reasonably 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 Foundation. They
meet regularly to review developments with regard to the Foundation, lo make important decisions, and
they review and approve ils grant giving activities every month.
OpgraLronal
'Operational' is the risk inherent in the Foundation's activities including supporting unsuitable appeals
from charities, continuity of staff, lack of a disaster recovery policy, fraud risk, financial crime risk, etc.
Al grants, donations and disbursements are appropriately scrutinised and recommendations are
submitted lo Trustees. The Trustees themselves are sufficiently qualified lo ensure that grants and
donations are made in line wtth the aims and objectives of the Foundation. The risk of making
inappropriate grants or donations is minimised by conducting appropriale due diligence checks. All
incoming donations lo the Foundation are subject to anli-money laundering checks.
Appropriate checks on the Sou￿$ of funding and on recipients are made on a monthly basis, prior lo
disbursements. Benevily, as the Foundation's adminislralors, ulilises electronic monitoring of watch lists
lo prevent fraud, money laundering or funding of terrorisl organisalions and the Trustees require these lo
be audited regularfy.
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
GOVERNANCE Icontinuedl
Principal risks and uncertainties Icontinuedl
Financial
'Financial risks, include those arising as a result of poor budgetsry control, inappropriate spending,
inaccurate awounling, and inappropriate investment policies.
The Foundation has significant income and expenditure, and the Trustees have satisfied themselves that
the ne￿$Sary accounting processes and banking authorities are in place in order lo proled lh8
Foundation, and the charities they serve. Management accounts are prepared by Benevily for Board
meetings. The annual financial statements are subject to an independent external audit each year.
Reputational
'Repulalional' is the risk of possible damage lo the Foundation's reputation, through association with
unsuitable service providers or charities, or with inappropriate activity.
The Trustees believe that the risk lo the reputstion of the Foundation through ils association with ils
advisers, ils service providers and ils beneficiaries is adequately controlled. In particular, Benevily
provides extensive vetting of all causes on ils platform both at inception and periodically thereafter, which
include adverse media checks on an ongoing basis.
Laws, regulatlons. external and envlronmental
Laws, regulations, external and environmental is the risk created from 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 lo ils
finances, the Trustees believe that they have established effective systems to mitigate those risks.
10
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
BUSINESS REVIEW AND FINANCIAL RESULTS
Al the end of the Year, the Foundation had assets of £37.1 m12024.' £34.Oml and liabilities of £23.1m
12024.. £20.4ml- The net funds of the FoLJndation were £14.Om 12024.. £13.6ml these funds are
considered lo be restricted funds.
Donations received were £161m compared to £195m in the prior year, a decrease of 17.5V.. Grants to
charities were also lower for the year at £160.5m, vs £195.5m in 2024. These decreases were due to a
number of factors including timing dtfferences between receipt of donations and the issuance of grants,
external economic factors that impacted donors and corporale donations. The Foundation continued lo
expend the vast majority of ils income on grants lo charities. These amounts are as follows:
2025
{£'ooo}
160,946
160.501
2024
i£'oooi
195,008
195,482
Donation revenue
Charitable activities
The Trustees have reviewed publicly available data for three similar entities, and UKOGF notes that,
generally, their operating cost ratios range between 3.3'/0 and 12.30/0. By comparison, UKOGF'S operating
cost ratio is approximately 3.36 10. Over 99°h of these costs are paid to Benevity for service provision
under the terms of a Master Services Agreement IMSAI.
Reserves pollcy
The Foundation has a Reserves and Investment Policy, which is as follows-
The Foundation should endeavour to hold in reserve suffiryent funds to cover budgeted costs for the
Current financial year and lo maintain an appropriale budget for future years to cover longer term
commitments. Reserves at 31 March 2025 did not meet the set target, bLrt will be built up in over the next
year.
As the Foundation does not hold significant funds long term there is no current requirement for an
investment poli¢y. Any funds held in reserves are deposited in an inlerest-bearing account.
The Foundation utilises a portion of all donations received to pay for its administrative and operating
expenses as a grant maker, of which 99010 is paid lo Benevity for services rendered as the Foundation's
primary service provider., with some costs for other service providers. If the amount retsined by the
Foundation for ils adminislralive and operating expenses is insufficient to pay forthe actual costs incurred,
then under the MLSA, the Foundation invol￿$ Benevity for the shortFall lo ensure that the Foundation
operates at no worse than breakeven.
During the year, the Trustees have re-examined the financial model of the Foundation, and have identified
a risk that the Foundation currently has minimal unrestricted funds allocated as a reserve fund lo cover
op8ralional costs at the discretion of the Trustees. Most donations received by th8 Foundation are
reslricled. The Trustees operate on the basis that donations lo the Foundation are granted to charities
and nonprofits in accordance with the wishes expressed by the donors or allematively as selected by the
Trustees. The TrLJslees have negotiated the fees payable to Benevity with a view to allow the Foundation
to build unrestricted reserves to an appropriate level next year.
11
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
Going concern
Given the financial model of the charity and funds held at year end, the Trustees of the Foundation have
concluded that there are no material uncertainties related to events or conditions that may cast significant
doubt on the ability of the Foundation to continue as a going con￿rn.
12
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Trustees. reF)Ort Year lo 31 March 2025
STATEMENT OF TRUSTEE'S RESPONSIBILITIES
The Trustees are responsible for preparing the Report of the Trustees and the fiNan￿al statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Praclicel.
The law applicable lo 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 lo prepare financial
statements for each financial year which give a true and fair view of Ihe slate of affairs of the Foundation
and of the incoming resources and application of resources. including the income and expenditure, of the
Foundation for that period. In preparing those financial ststements, the Trustees are required to..
select suitable accounting policies and then apply them wnsistently.,
observe the methc￿S and principles in the Foundation SORP.,
make judgements and eslimales that are reasonable and prudent.,
prepare the financial statements on the going con￿r￿ basis unless it is inappropriate lo presume
that the Foundation will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy al any lime in the financial position of the Foundation and to enable them to ensure that the
financial slalemenls 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
Foundation 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 26 January 2026 and signed on its behalf by..
O¢cuS&n•dtsy'.
Richard Donner, Chairperson
Date..
January 2026
January 26, 2026
13
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Independent auditor's report on the financial statements 31 March 2025
Independent auditorfs report to the Trustses of The UK Online Giving Foundation
Opinion
We have audited the financial statements of The UK Online Giving Foundation {the 'charity'l for
the year ended 31 March 2025 which comprise the statement of financial activities, the balance
sheet and notes to the financial slalemenls, 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 ststements=
• give a true and fair view of the state of the charity's affairs as al 31 March 2025 and of ils
incom8 and expenditure for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting practi￿,. and
have been prepared in accordan￿ with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII
and applicable law. Our responsibilities under those stsndards are further described in the
Auditor's resFX)nsibililies for the audit of the financial statements section of our report. We are
independent of the Charity in awrdanTr with the ethical requirements that are relevant lo our
audit of the financial ststemenls in the UK, including the FRC'S Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordance with these reqLJirements. 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 accounts, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the accounts 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 doubl on the charity's
ability to continue as a going concem for a period of al least twelve months from when the
accounts 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.

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Independent auditor's report on the financial statements 31 March 2025
Other infomiation
The other information comprises the information induded in the annual report, induding the
trustees, report, other than the accounts and our auditor's report Ihereon. The trustees are
responsible for the other information Contsined within the annual report. Our opinion on the
accounts does not cover the other informalion and we do not express any form of assurance
conclusion Ihereon.
Our responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the accounts or our knowledge obtained in the course
of the audit or othen￿lSe appears lo be materially misstated. If we identify such material
inconsistencies or apparent material misslalemenls, we are required lo determine whether this
gives rise to a material misststement in the accounts themselves. If, based on the work we have
performed, we conclude that there is a material misslalemenl of this other information, we are
required lo report that fact.
We have nothing lo report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understsnding of the charity and its environment obtained in the
course of the audit, we have not identified material misstatements in the trustees, ￿FX)rt.
We have nothing to report in respect of the following matters in relation lo which the Charities
(Accounts and Reports) Regulations 2008 requires us lo report lo you if, in our opinion-
• the information given in the trustees, report is inconsistent in any material respect with the
accounts., or
sufficient accounting records have not been kept., or
the accounts are not in agreement with the accounting records., or
we have not received all the information and explanations we require for our audit.
Responslbllltles of Trustees
As explained more fully in the trustees, resF)onsibililies slalemenl set out on page 10, the Iruslees
are responsible for the preparation of the accounts and for being satisfied that they give a true
and fair view, and for such internal control as the Iruslees delemiine is necessary to enable the
preparation of accounts that are free from material misstatement, whether due lo fraud or error.
In preparing the accounts, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disdosing, as applicable, matters related to going concern and using
the going concem basis of accounting unless the Iruslees either intend lo liquidate the charity or
to cease operations, or have no realistic allemative bul to do so.
15
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Independent auditor's report on the financial statements 31 March 2025
Auditorfs responsibilities for the audit of the accounts
Vve have been appointed as auditor under section 144 of the Charities Act 2011 and report in
accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assuran￿ about whether the accounts as a whole are
free from material misslalement, whether due lo fraud or error, and lo issue an auditor's report
that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a
guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material
misslatemenl 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 lo influence the economic decisions of users taken
on the basis of these accounts.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, lo delect materi81
misslatemenls in respect of irregularities, including fraud. The extent lo which our procedures a
Capable of detecting irregularities, including fraud, is detailed below..
• We obtained an understanding of the legal and regulatory frameworks that are applicable to
the charitsble company and detem)ined that the most significant are Charities Act 2011,
Charities SORP IFRS 1021, and the Ch8rily's Trust Deed. We understood how the UK Online
Giving Foundation is complying with those frameworks by making enquiries of management
and reviewing minutes of the meetings of the Trustees.
• We assessed the susceptibility ofthe charity's financial slalemenls lo material misstatement,
including how fraud might occur by considering the risk of management override. We
considered the controls that the charity has established lo address risks identified by the
Trustees, or that otherwise seek lo prevent, deter or detect fraud and how management and
those charged with governance monilor those controls.
Based on this understanding we designed our audit procedures to identify non-compliance
with such laws and regulations. Our procedures involved the review of minutes of meetings
of the Trustees, making inquiries of management., and performan￿ of journal entry testing
based on our risk assessment and understanding of the business, with a focus on non-
standard journals.
There are inherent limitstions in our audit procedures described above. The more ￿MOVed that
laws and regulations are from financial Iransaclions, the less likely it is that we would become
aware of non-complian￿. Auditing standards also limit the audit prO￿dureS required to identify
non-compliance wth laws and regulations to enquiry of the trustees and other management and
the inspection of regulatory and legal correspondence, if any.
Material misslatemenls that arise due lo fraud can be harder lo detect than those that arise from
error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the accounts is located on the Financial
Reporting Council's website al www.frc.org.ukJaudilorsresponsibililies. This description forms
part of our auditor's report.
16
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Independent auditor's report on the financial statements 31 March 2025
Use of our report
This report is made solely lo the charity's trustees, as a body, in a￿ordan￿ with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that
we might slate lo the ch8rily's trustees those mallers we are ￿qUired lo stste to them in an
audilor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept
or assume responsibility to anyone other than the charity and the charity's trustees as a body, for
our audit work, for this report. or for the opinions we have formed.
26 January 2026
Buzzacott Audit LLP
130 Wood Street
London
EC2V 6DL
Buzzacotl Audit LLP is eligible to act as an auditor under the terms of Section 1212 of the
Companies Act 2006
17
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Statement of financial activities {in¢luding income and expenditure account} Year to 31 March 2025
(Expressed in thousands of British pound sterling)
2025
2025
Total
Total
restrlcted unrestrlct•
funds
d fund5
£'ooo
£'ooo
2024
Total
restricted
funds
£'ooo
2024
Total
unrestricted
2024
funds Total funds
£'ooo
£'ooo
2025
Total
funds
£'ooo
Notes
Income
Donations
other
income
Interest
160,946
160.946
4.567
195,(K)8
195,008
4,177
4,567
828
4.177
430
828
430
Total
160,946
5,395
166,341
195.008
4.607
199.615
Expendlture
Ch8ritable
activit185
Cost of grant
making
Total
160,501
160.501
195,482
195,482
5,395
5,395
5.395
165.896
4,607
4,607
4,607
200,089
160,501
195,482
Net Income
445
14741
14741
Realised and
unrealised
exchange
losses
Net
movement
in funds
1971
1971
12261
12261
17001
17001
Reeoneiliati
on of funds
Total funds
balaTh￿s
brought
forward
Total funds
balances
carried
fo￿ard
13,639
13,639
14,339
14,339
13,987
13.987
13.639
13.639

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Balance sheet 31 M8r¢h 2025
{Exp￿ssed in thous8nds of British pound sterling)
2025
2025
2024
2024
Notes
£'ooo
£'ooo
£'ooo
£'ooo
Current assets
ash at b8nk and in hand
26,658
10,443
37,101
21,780
Debtors
12,225
34,005
Llabllltles
Creditors.. amounts falling du8
within one year
Net current as5etS
123,1141
120,3661
13.987
13,639
Funds
Restricted funds
13,987
13.639
Total funds
13,987
13.639
The financial statements on page 15 to 24 were approved by the Trustees, and aulhorised for
issue on 14 January 2026 and are signed on their behalf by..
DDttuS*n•d by..
Trustee
I OOHJALY
Richard Donner, Chairperson
Janu8ry 26, 2026

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Statement of cash flows Year lo 31 March 2025
Statement of cash flows Year lo 31 March 2025
(Expressed in thousands of British pound sterling)
2025
£'ooo
2024
£'ooo
Note
Net cash flows from operatlng actlvltles
Net cash provided by lusedl operating actiwties
4,975
111.7831
Re¢onclllatlon of net ￿$h flow to movement In net funds:
Change in cash and cash equivalents in the rep)rbng period
Change in cash and cash 8quivalents du8 to 8xchang8 rat8
movements
Cash equlvalents at the beglnnlng of the reportlng perlod
Cash and cash equivalents at the end of the reporting perSod
4,975
111.7831
1971
21,780
26,658
12261
33,790
21,780
A. Reconciliation of income to net cash flow from operating activities
2025
£'ooo
2024
£'ooo
Ineomèlléx￿nd1Iur•> for thè yèar las p•r th• ststèmènt of financial
activities)
Adjusted for:
D8cr8ase in d8btor5
445
14741
1,782
2,748
2,041
113,3501
Increaselldecreasel in creditors
Net cash (used inl provided by operating activities
4,975
111,7831
The Foundation does not hold any debt, and as such a separate rewnciliation of net debt
slalemenl has not been included within the slalemenl of cash flows.

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Principal accountings policies Year to 31 March 2025
The UK Online Giving Foundation is a Charitable Incorporated Organisalion registered in England
and Wales on 16 December 2015 Iregislration number 11648871.
The principal accounting policies adopted, judgements and key sources of eslimalion uncertainly
in the preparation of the financial statements are laid out below.
Basis of preparation
The Foundation constilules a public benefit entity as defined by FRS 102.
These financial statements have been prepared for the year lo 31 March 2025. The financial
slalemenls are presented in sleding and a￿ rounded to the nearest Ihousands.
The financial statements of the Foundation have been prepared in a￿ordan￿ with the Charities
SORP IFRS 1021 'Ac¢ounling and Reporting by Charities.. Ststement of Recommended Practice
applicable lo charities preparing their accounts in accordance with FRS102 and the Charities Act
2011.
Critical accounting estimates and areas of judgement
Preparation of the financial slalemenls requires the Trustees lo make significantjudgements and
estimates. The Trustees do not consider that there are any sources of estimation Un￿rtaInty or
any key judgements made in the preparation of the financial ststements.
Assassment of going concern
The Trustees have assessed whether the use of the going concern assumption is appropriate in
preparing these financial stslemenls. The Trustees have made this assessment in respect lo a
period of one year from the dale of approval of these financial statements.
The Trustees of the Foundation have concluded that there are no material uncertainties related
to events or conditions that may cast significant doubt on the ability of the Foundation lo continue
as a going concem. The Trustees are of the opinion that the Foundation will have SuffI￿ent
resources to meet ils liabilities as they fall due.
As part of the MSA with Benevity, the Foundation invol￿$ Benevity, for any operational deficits,
in order that the Foundation operates at breakeven.
Income recognition
Income is recognised in the period in which the Foundation has entitlement lo the income, the
amount of income can be measured reliably, and il is probable that the income will be received.
Income comprises donations, other income comprises transaction related fees due from donors.
Donations are recognised when the Foundation has confirmation of both the amount and
settlement dale. 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 Foundation is entitled lo Ihe funds, the income is
deferred and not recognised until either those conditions are fully mel, or the fulfilment of those
conditions is wholly within the control of the Foundation 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 Foundation- this is normally upon notrficalion of the interest paid or payable by the
bank.

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Principal accounting policies Year to 31 March 2025
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
commilling the Foundation lo make a payment lo a third party, il is probable that a transfer of
economic benefits will be required in setuemenl and the amount of the obligation can be
measured reliably.
l expenditure is accounted for on an accruals basis and includes atlribulable VAT which cannot
be recovered. Expenditure comprises direct costs and support costs. All expenses, including
support costs, are allocated lo the applicable expenditure heading.
Expenditure on charitsble activities comprises donations.
Costs of grant making comprise the cost of management setvices provided through Ben8vily,
Inc., bank service charges, merchant fees and allocated support costs.
Allocation of support and govemance costs
Support costs represent indirect charitable expenditure. In order lo carry out the primary purposes
of the Foundation it is necessary lo provide support in the form of financial and governance
procedures.
Governan￿ costs comprise all costs relating lo the public accountability of the Foundation and
its compliance wth regulation and go￿ practice. These costs include costs relating lo the
independent examination of the financial slalemenls and legal fees.
Support costs and governan￿ costs are all allocated to the cost of grant making.
Foreign exchange
Receipts and payments which occur in foreign Currencies are included in the financial slalemenls
al the amount into which they are converted in sterling, using the exchange rate on the day on
which the transaction occurs.
Debtors
Debtors are recognised al their selllement amount, less any provision for non-recoverabilily.
Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments Ihal are available on
demand or have a maturity of less than three months from the dale of acquisition.
Creditors and provisions
Creditors and provisions are recognised when there is an obligation at the balan￿ sheet dale as
a result of a past event, it is probable that a transfer of economic benefit will be required in
setuement, and the amount of the settlement can be estimated reliably. Creditors and provisions
are recognised at the amount the Foundation anticipates it will pay lo settle the debt.
22
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Principal accounting policies Year to 31 March 2025
Fund accounting
The Foundation holds restricted and unrestricted funds. Unreslricled funds represent those
monies that are freely available for applI￿110n towards achieving any charitable purpose that falls
thin the Foundation's charitable objects.
Restricted funds are funds received from donors on the understanding that they will be distributed
in accordance with the donors, suggestions for onward donations to third party charitable
organizalions. These a￿ referred to below as DAFS (Donor Advised Funds).
The wndilions of donation under which funds are gifted unto DAFS include that the donations are
ir￿VOCablY gifted to the UK Online Giving Foundation. This is indicative of the DAFS having the
form of unreslricled funds, that is funds which may be spent or applied at the discretion of the
Trustees of the UKOGF lo further any of ils ¢h8rilable purposes. However, the principal purpose
of this condition of donation is lo provide protection, for example, where it is not possible for legal
or regulatory constraints to fulfil a donor's suggestion to make an onward donation to a third paty
charitable cause.
In the ordinary course of aclivilies, there is no expectation that funds held in DAFS will be applied
for any purpose other than onward gifting, and this expectation is affirmed by the practice of
UKOGF since its inception. Should DAFS be used for general charitable purposes at the
discretion of UKOGF'S Trustees las unreslricled funds), the Chsrily's operating model and
reputation could be significanuy damaged. Consequently, the application of the DAFS, other than
for onward donations, would only ever be contemplated in response to an exceptional
rcumslance.
Given the expectation that the DAF funds will be applied for onward donation, the classification
as unrestricted funds does not appear to be appropriate for donations to DAF. The SORP
recognises the inherent complexity of a￿OUntIng for income from donations, and therefore
includes the provision that donations should be accounted for and presented in accordance with
their substance, and not simply their legal form.
Accordingly, the Trustees of the UKOGF consider that donations received into. and funds held
within, DAFS by the Charity are better classified as restricted funds in UKOGF'S financial
slalemenls.
23
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Notes to the Flnanclal Statements Year to 31 March 2025
(Expressed in thousands of British pound st&rling)
1 Other Income
2025
Total
unrestricted
funds
£'ooo
2024
2025
Total
Totsl unrestricted
funds
funds
£'ooo
£'ooo
2024
Total
funds
£'ooo
Administration fees
3.544
3,544
3.777
3,777
Foreign currency grant rebates
1,023
4.567
1,023
4,567
4(K)
4,177
400
4,177
2 Expenditur8
Details of expenditure by fund..
2025
2025
Total
Total
restricted unrestricted
funds
funds
£'ooo
£'ooo
2024
2024
Total
Total
reslrioted unrestricted
funds
funds
£'ooo
£'ooo
2025
Total
funds
£'ooo
2024
Total
fund$
£'ooo
Bank service charges
Donations awarded to charities
Adtnin15tration fees
257
257
160.501
4.500
71
497
70
16S,896
424
160,501
195,482
195,482
3,441
104
577
61
200,089
4,500
71
497
70
5,395
3,441
104
577
61
4,607
GoVernaTh￿ costs
Merchant fees
other disbursement costs
160,501
195,482
Details of expenditure by activity..
For the year ended 31 March
2025
2025
Total
funds
£'ooo
Cost of grant
making
£'ooo
Charitable
aotivities
Governan
Cost
£'ooo
£'ooo
Bank Service charges
Donations awarded to charities
257
257
160,501
160.501
4.500
71
497
70
165.896
Administrats"on fees
GoVernarn￿ costs
Merchant fees
other disbursement costs
4,500
71
497
70
5,324
160,501
71
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Notes to the Flnanclal Statements Year to 31 March 2025
For the year ended 31 March
2024
2024
Total
funds
£'ooo
Cost of grant
making
£'(K)O
Charitable
activities
£'(K)O
Governance
Cost
£'ooo
Bank service charges
Donations awarded to charities
424
424
195,482
195,482
3,441
104
577
61
200,089
Administration fees
3.441
Gov8rnance costs
Merchant fees
other disbursement oosts
104
577
61
4,503
195,482
104
Costs are allocated direclly lo the activities to which they relate, where applicable. The
Foundation allocates appropriate administration fees paid to Benevity Inc. in respect of
transaction processing, bank costs, merchant fees and administration costs to the wst of grant
making.
2025
£'ooo
2024
£'O(K)
Acctued donations broLJght forward
Donations paid to charities
Accrued donations carried forward
Donations awarded to charities
15.4901
149,111
15,$03
159,124
13,1701
191.650
5,490
193,970
2025
£'ooo
2024
£'ooo
N8t Income
Net income is stated after charging Icreditingl..
Auditorfs remuneration
- Current year
Prior year over accrual
30
25
25
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Notes to the Flnanclal Statements Year to 31 March 2025
3 Debtors
2025
£'ooo
2024
£'ooo
Accounts receivable
Funds in transit
10,472
1291
10,443
12,286
12,225
4 Creditors.. amounts falling due within one year
2025
£'ooo
2024
£'ooo
Accounts payable
Accrued donation liabilities
14,690
5,676
20,366
15,665
23,114
5 Trustees, remuneration
No Trustee received any remuneration or benefit from the Charity for their services during the
year or prior period.
6 Movement in funds
2025
Total
restrlcted
funds
£'ooo
2024
Total
restricted
fund5
£'ooo
Balance as at 1 April
Incom8
Expenditure
Realised and unrealis8d 8xchange1085eS
Balance as at 31 March
13,639
160,946
1160,5011
1971
13,987
14.339
195,008
1195,4821
12261
13.639
26
UK Online Giving Foundation

Docusi9n Envelope ID.. 71 B91081473D4FFE-B7F24C6B077981E8
Notes to the Flnanclal Statements Year to 31 March 2025
7 Related party transactions
The Foundation reimbursed one Board member for £235 of travel expenses for the year ended
31 March 202512024 - £761.
During the year, the Foundation made donations of nil12024 - £8,450) lo Saracens Mulli-
Academy Trust.
The spouse of one of the Trustees of the Foundation Isimon Mark Haslaml is employed by
Saracens Mulli-Academy Trust. This relalionship did not give rise to any preferential treatment
in determining the use of funds, which were applied in line with the preferen￿ of the donor.
Key management personnel
The Trustees consider that they comprise the key management of the Charity in charge of
directing and controlling the charity on a day-lo-day basis. The Trustees re￿1ve no
remuneration.
27
UK Online Giving Foundation