The Svnrfse Foundation CIO Trvstees, Report ond Accounts For the year ended 30 June 2023 Charity number. 1172756
The Sunrfse Foundalion CIO Year ended 30 June 2023 Conter Poges Reterence and Administrative tnfonnation Trustees. Report Independent Exarruner's Rewtr Receipts and Payments statement of Assets and tsabilities Notes lo the Accounts 2-13
The Sunrise Foundatton CIO Year ended 30 June 2023 Reference arKI Administralive Infomiamon The charity was entered on Ihe Register of Charities on 25 April 2017 with the Charity Commission Reference Number 1172756 ond is govemed by a Constitution dated I l April 2017. Reglstered Address and Prlncipal Olllce The Sunrise Foundation CIO 8 Gionge Rood Clifton Bristol BS8 4EA Truslees Mrs Margaret Glastonblry Ichairl Mr Bryon Gl05tonbury Mr Paul Salmons Miss Sophia Brooke Mr Ben Glastonbury Mrs Morta Glastonbury Mr Edward Greenhalgh (appointed 3 JY X)23} Bankers Barclays Bank. One Stanhope Gale. London Wl K IAF. Independent Examlner Corrigan Accountants Lirrmted. Fnt Hoor. 25 King Street. 8ristoL 8S14PB.
The Surwlse Foundallon CIO Yeai ended 30 June 2023 Trust•es' Report for Ihe yeai ended 30 Jvne 2023 e Tru5tee5 have ple05ure in presenting their rep(xt together wlh Ihe financial stotemenls of the Charity lor the yeaf ended 30 June 2023. The Foundation wa5 regtstered os a charity on 25 April 2017. Slrvclure. Govemance and Management The Charity is gOVned by a Constitution doted 2017. 11 is governed by o Board ot Trustees led by the Chair who has delegated Tespon5iblity for Ihe day-t¢>day oclivitte5. Monagemenl ol the Charity's grant-making activities is described loler in this Report. With regords lo the Board of Trustees, we are delighled Edword Greenholgh ogreed tojoin the Board in July 2023. Edwa¥d'5 experience at senioT level within the Finance sector wll bring mony benefits, as well as complementing the rest of the team adding valve to the Foundation's overall objectives. The Trustee5 hove compfied wilh their duty under the Charities Act 2011 to have due regard lo PUbC benefit guidance pubkshed by the Chority Commission. The Board acts Vth integrity. adopting vdues and crealing o cullLre which helps achieve the Foundation's charitable purpose. ffte Board is awate of the importance of the public's confidence and trust in charitie5. and TnJ51ees vndertoke Ihew dvlies occor(fingly- The Board consists of a mix of charitable. business. ond finoncial S11$. If it becomes nece55ary, and to maintain this mix of skilb, individuals will be approached. and recwitmenl adverts wll be placed, lo invite people to offer themselve5 for eleclion lo Ihe Board. The induction of new Trustees cover: The obEgations of Members of the Board of Trustees Trie current finoncial posilion ol the Chority Future plans and objectives Administrative structure and acc65S to shared documents ObJecive$ The objecfs of the CIO ore to advance such charitatAe purposes loccording to the low of England and Wale51 as the Trustees see fft from time to lime in patthculor but not limiled to: lol To ossisl in the treotment and care of p&50ns suflering from mental or physicol illness ol ony descriplion or in need of TehabiTilalion as a rewlt of such ilne55, by the provision of facilities for wot and recreation. Ibl To advance in life and help young peoFAe throvgh: The provtsion of Tecreationol and leVre time activities promded in the interest of social welfare, designed to improve their condition5 of life. Provi(fing 5VPPOrt ond activities which develop their 5kli ts. copacilies. and capobdilies to enable them lo participale in society as malure and responsible individuals. Icl To promote Social inclusion for the public benefft by preventing peOe from becoming Socially excluded. relieving the needs of those people who are Sociol excluded and ass1$1ing them lo integrate into Society through the tKowsion of granls, items. education. ond 5etvi¢e5 to such people ondlor to charitie5 or olher orgonisations working lo promote social inclusion.
The Sunrlse Foundallon CIO Year ended 30 June 2023 Trustees. Report lor Ihe yeor erKled 30 June 2023 For the purpose of thi% cbuse 'sociolty excluded, meon5 being excluded trom society, or parts of society, os o result of one OT more of the folbwng laclots- unemployment.. rinancial hardship.. youth or old age- ill health (physical or menlall: substance obuse or dependency including alcohol and dfugs.. discrimination on the grounds of seL race. disobli ity. ethnic origin, religion, belief, creed, sexual orientation or gender rSsIgnMent. poor educolional or skills attoinment- relationship and fomily breakdown.- poot housing Ithal Is housing thol does not meet bosic habitable slandardsl,. crime leilher os a wclim of crime or as an offender rehabhilaling into society). The CIO ochieve5 Ihese ot4ectives by making gronts lo indlwduals and orgonisalions. Rolaled eharllles In the PUT5uiI of its chariloble obieclives the Chorrly cooperate5 wilh Asociacion Yonapasun in Peru. Asociacion Yanopasvn operates o Therapy Centre supporting disobled ond or disadvantaged individuals in the community. The centre includes o daily groL*P eoty slimulalion programme lor bobies ond toddlers ond individuol therapies lor children and adults with a wde range of mental and physicd chollenges. many &ving in povety. This includes o Children's Home Yanap05un look over from another organOI10n in 2020. to Provide conlinuty and reassurance for o small group ol vulnerable children. Grant Maklng Polky The purpose of thi5 policy is to set out the principles. crttreria and processes Ihol govem how the Sunrise Foundotion CIO mokes gront5. A grant 15 defined as a finoncial oward Ihe Foundation makes from IFS fund5 lo support chorilable octivities. usually lo registered charities or chorilable commvnity groups. but sometimes lo other bodies or to individual5. tr The Trustees enSe proper govemance ol the Foundation's grant making in three ways. Through gront makkng prfnciples which ensure Ihal decisions are made by the Foundation's Trustees. These principles clorify that funds given are the Sunrise Fovndalion's assets, albeit with degrees of restriction on their vse. and that. where they ore invotved. il is recommending gronts, not awarding them. Through grant maklng crilerfa which Set oul the acliwlies the Trustees wsh to support in lurtheiance of the Foundation's chorilatAe objeclive5. The crileria also include oclivilies which the Trustees do not wsh to support because they do not consider them lo be in line wth the Foundation'5 purpose. ffte Trustees accepl that they wll on some occasions moke gronts ou15ide the criteiia but that in all such cases the odivity supported wll be charitable in low. Through granl makln9 processes which set out how deciyons are leached for awarding grant5 from different types of fvnds al the Foundotion.
The Sunrfse Found(thon CIO Year ended 30 June 2023 Trustees. Report for the year ended 30 June 2023 Gr The principle5 which underpin the Trustee5' govemonce of the FoLJndalion's grant moking consider the scale and range of its grants and strike a balance between proper over5ighl of decision-making and responsive customer seNice for oppliconts. The principles are as tollows. The BooTd of TnJslees has urtrmale coweclive respobAlty for all granl making decisions in line wlh Ihe Foundation's charity purposes. Trustees reserve the rtght to appty conditions to any gant. Trustees also reswe the righl not to approve any recommendation or nominolion if they determine that the Tesulling gTanl WOLAd not be charilable orwould conflict wth the Foundalion's stated polcies (Y domage it5 reputalion. The Foundolion's guidonce on uiterio for applcations from in(fividuo15 or groups is sel out in our documents, Grant Application P0cleS & Gvidelines ond Terms and Con(fitions of Grant. OUT gronl- moking hos evofved to ofiow a much stronger focus on slralegic support. Trustees are particulaty keen lo help local grassroots community grovp5 and smaller sized voluntary organisutions where funding of o project would gain maximum beneltt because we believe strongly that work al this gras5 roots level makes a huge diflerence to people's lives. As o registered charity. the Foundotion can onty make onI$ lo support actiwty which is charitable in law. Organisations do not hove to be registed charities lo app. bul the Foundotion wll on make general running costs OT unrestricled grants lo charities. Grants lo other types of organisalions N always be restricted lor o specffic chori10te pw)se. Trustees e mindful of Ihe regulation and focvs of Community Interest Companie5 ICICS) and olher non-charity sociol enterwses. The Foundation's opprooch is to consideT helping such organi5alions where there is o sound business plan. wth Ihe charilable costs of start-up or expansion. ffte Foundalion does not nomially support Clcs and othei norCharity sociol enterprises with the costs of continuing services, which should be finonced by the sole of goods and services in line with the govemance model they have chosen. When considering where lo ollocale funds TnJ5tees wfil loke into consideration Ihe number of people in o particular area who require support, the level and type ol core they require ond the ability of the organisation lo provide an odequote level ol support considering it5 avoli able resources. manpower and the existing ganIsatIOnS providng siml(y support in the area. Trv51ees wll consider Ihe relevant orgonisalion's reputation. previous achievements, focililies, orgonisallon structure and govemance, as well os whelhei there are adequate systems in place to monitor the vse ot the funds. AppcollOnS for support musl be through the Sunrise Foundation's grant application process.
The Sunrlse Foundatk>n CIO Year ended 30 Jvne 2023 Trustees, Report for thè year ènded 30 June 2023 Grant requests which the Trustees win nol nom)alty support are.. Contributrons to general oppeais or CiTculor5. Refigiovs activity which is not lor vider public benefit. Public bodies to carry out their stolutory obgatiOns. Activities which solety support animal wellore. Aclivities which have otreody taken place. Gronf moking by other organisotion5. Privately owned and profit-(fistributing companie5 or fimiled partnerships. There are no lower or vpper limits for grants, but OptCan1$ should be mindful that applicotion5 are con5ideied quortety in cOmpetitn with each olher. The Foundation has o scoring system which helps the decision-making process. More points are given to opplicalions Ihot: Show strong evidence of need. Soek to invofve as wde o range of people os possible. Meel more of the Foundation's Outcomes. Where organisotions Provide measurable oulcomes on the end user beneffciaries. Are from organisalions wlh o smaler annuol income which could gain maximvm benelit lor Iheir project trom funding. Are for smaller Fxoiect5 where Sunrtse cOd achieve a substontial impact to Ihose in need and realty are effective. Wheie organi5alions are o grassroot5 choritylcommunitylvoltjntary group in the Brislol/Sovlhwest region where Sunrise can e0511y visil lo moke meaningfvl assessments and evalLK]tns. Gran Mokin Pro The 8oaid of Truslees ensures Ihot it5 dec1sH)rMakig processes are informed. rigorovs and limely ond thol effeclive delegation. control and riSk5$eSSmen and management systems are Sel up ond monitored. To this end. oll granl reque515 go through a process as per fhe Foundalion's Gran* Piocess How Chart, as follows- Inet0PwS PffjrwdtoF&¥tStsSQ
The Sunrlse Foundation CIO Year ended 30 June 2023 Truee5. Rep¢)rt for the yeai ended 30 June 2023 Achlevements and Perfonnance The Foundatron doe5 not measure the success of the projects it funds onty in numbers. including financial numbers. bul 0150 in less tangible areas where we have recetved direct feedback from those who have benefftted from o specific project we have furKJed. Depending on the type of project being funded. Svnrise want5 to see meaning1 feedbock on a project's progress ond what ha$ been achieved, typicalty this would be month. quartety or on End of Grant report vthich ewdences mea5vrable outcome5 on the end usei beneficiaries lo demonstrate pos11ive change. The Tnjslees recognise that some things are difficult to measLTe bul the reports received in Ihis period hove been extremeW positive. In fine th OLV Strategic planning. the Trustees have impjemenled o Multi-yeai Grant Application proce$5 for some estIng beneficiories. Thi5 OCeSS both consolidates the work of the chorities involved. but also enables Svrwise TnJstees lo concentrate energy in a posilive way and move away from manoging new apKAicotions constantly. Multi Year Giant5 are a big cornmilmenl lo orgonisations to not onty help them become more susloinable in the fvtvre. but also fvndamentaliy ensures continuity of vital support. We believe this facilitates foslering close relationships and enables the Foundation lo fLdly understand Ihe wotk the charilies are doing. By offering repeal supporl or on- going lunding we make the grant gtving moTe elfective and efficient. This sfiotegic apwoach provides OrganallOns with proctical and sustainable 5VPPOrt lo meet the incieosing demands we ore seeing during the sustained cost ol liwng crisis lo enable them to conlinve delivering frontfjne 5erwces. Whdst we have not closed our doors to new opplicolions. the focus 15 on long term 5UPPOrt of Ihose who have proved their ability lo make o real rfifference th the lunds granted. Inevitabty as a result ot our lon*term financiol commitment to a lew locol organisations. il does mean the remaining funding bvdget is limtFed. Sunrise believes in helFing much needed seNces to become more sustainable by developing the confidence, capacity. and 5kllts to: Become le55 dependent on increosingty scorce discrelioricry ganl funding. Generate more income from their actiwties and services. Continue prowding essenlial swice5, to prevent probM$ escaloling. Empower organisations to make posilive change wth Iheir projects. Build and develop the good organisations are doing lo help more people in need. Sunrise is delighted to be funding several o¥gontsotions on a year-by-year/case-by-ca5e bosis, still subject lo gronl application polcy. where 5hort-lem gront funding and using resefves to cover any income gap is not a Mable option rf they are lo sustain and grow theiT seNces. AH of Ihe projects we support hove mulliple. wde-ronging outcomes and the following granls are part of ow Ihree-yeor mufii-year agreement process which took place in ow 202212023 financiol yeaT= Asoclaclon YtJnapa5un, Peru: owoing operationol ond development of therapy centre supporting disadvantoged disabled children and odu115 in the community. The centre reaches o wide range ol people in the Sacred Valley and signiffcantty improves the quality of Iheir lives. 1,1 I I therapy sessions were carried out during the year. 190 more oppointmenls than previous year.
The Sunrfse Fovndalion CIO Year ended 30 June 2023 Twstees. Report foi the year ended 30 June 2023 Asoclaclon Yanapasun. Pern: on-g(Nng operational ond development ot a children's home token over from another organisation in 2020, lo provide bng term conlinuity and Teassuronce lor a smoll group ol vvlnerable chil(fren lo soleguard Iheit future, lo keep Ihem safe. make them feel loved and lor them lo thrive. There ale four chli dren currenliy Itving in the home. Carlng In Brf01. salary c0515 for an additional Case Worker on Project Z which supports young people across Brislol who are experiencing homelessness or vulnerable housing. These yovngsters are some ol the most margindised. experiencing multiple disadvonlage such as family breokdown, leaving care. sexual exploitotion. sexual identity issues or Unem[0yment. The additional Case Worker helps the project increase the number of young people 5VPPOrted to avoid homelessness and build skills and capacities for the longer-lerm. l(MJ young peOe hove been supported lo avoid homelessness. to build skilb, capacitie5 and create POtive outcomes in I% of clients for the long lenn. Chonges 1$tO1. salary costs lor Development and Events Manoger whose primary role is to develop funding opporlunilies Ihal go toward5 financing tson14ine services ol the chority. Over the past two years Changes have provided groups for 7XJ members. utilising l 0.288 volunteer hours. There hove been 10.682 attendances to o total ol 1.646 peer sUPPOrt groups. In addition, they supported 203 people throvgh 3.513 hours of Befriending phone calls. 252 walks and had 1.750 ollendonces to walks and nalvre wellb8ing groups. Gyrnpanzee$: contribution towards sdarieslequipment lo womde Pop Up Theropy Centre lor children in Bristol with disabilitie5 and their siblings. The Pop Ups aTe designed wth physlotheropy and occupational theropy principles in mind so thot each room and PFece of equipment encourages eitheT acliwty lo help wth gross motor skills, health ond fitness or sensory integration and a wider sensory experience to help with fine motor skilts. lrfe ski115 ond pray sklls. They continue to see so many effects of 'slealthy health. th chl(ken and young people loknng port in phy&cal activity whilst having o great time too. Over the COLwse of the Summer 2022 and Eosler 2023 over 3.000 sessions were booked. Qne25 Ltd: contrilyJlion lowords salary costs in running the Peony Project in Biistol. This unique service 5UPPOrts women to break free from trauma. heal and thrive. The women foce multiple disadvantage5. homelessness. domestic wolence. removal ol children. sexual violence, addiction. olfending. mental heollh issues and sex work. Peony 15 enabling women lo recognise and manage their feelings and emolions and lo feel more in control. Peony supported 49 women during the yeor, all have taken brave sleps towards independence which include managing debt, gaining employability skills. omencfing exlemal courses. undertaking volunteering. gaining permanent employment. peer volunleer support.
The Sunrlse Foundation CIO Year ended 30 June 2023 Trustees. Report lor the year ended 30 June 2023 The loble below detaib Ihe gront appficalion 51atislics forlhree ye0. togelherwith the succe55 ratio. July 2022- June 2023 2021- Jvne 2022 Grant Appllcalon staS$1Scs July 2020- June 2021 Number Amount Number Amount Number Amounl Enquiiies 62 successful Appkations lincluding rrLJlF year grants relating to enquwEs in previous yearsl £243.749 £236.925 £236,741 Unsuccessful Applcations 59 Succes5 Ratio 10.34% 9.23% 11.3X The six 9ran15 awarded during the yeai are projec15 wlhin Ihree-yeor mUltYear funding agreements, au of which are subject lo achiemng certain crileria before progressing to the next year's fvnding. Monllorlng of aThts The Board works os an effective team. using the apwopriate balance 01 5klls, experience, backgrounds. and knoedge lo make informed decisiorL%. All Grant Agreements are subject to certain terms and conrfilions and the Foundation monrFors the progress of each project whereby either month1ylqucerfy and end of gront reports. as well as ogreed torgels and objectives. are submitted and evolvated. We need lo know ether the set criteria wthin each Granl Agreement is being ochieved and, at the end. how the Grant hos been Spent wth a breakdown ol the ilems or octiwties funded by the Gronl. which shovld be closely 0gned lo the Qonl Agreemenl. We require on explanolion if the Grant was spent differently and how il allowed il to achieve their oulcome5. Any change5 to how the Granl was spent must be fir5tty agreed by the Foundation.
The Sunrise FoundaFk>n CIO Year ended 30 Jvne 2023 Trustees. Report for the year ended 30 June 2023 The Foundation need5 to know whal the GTant has achieved and about the difference eoch projecl hos made to the people thal porticipoted in it arKJ know of any wider benefits to the community, a5 well a5 how many people diTectty beneffited from eoch Grant. Where opprowate the Foundation moy atso require- Regular site vtstts by Trustees Monlhty ffnancial reporling Review patienllclienl records stoff pertormanee reviews Sunfise continues to be in5pwed by al the posifive outcomes achieved fof so many indiwduals. Direct feedback trom Organallon5 where we have conlribvled lo their Fyojects during the year, including some outcomes and feedback from Ihew beneficiaries. is shov4n below: Asociacion Yanapasun. Peru". Two patients hove been given the opportunity of poid wort al Ihe therapy centre,. one a55isls wilh the cleaning and the olher Carrn9 oul gaTdening and general mainlenonce. Bolh these opportunitie5 have brought significant positive impoct to the yovng51ers' lives. and they are a happy and welcome port of the team. Two l &year-old gitls finaty said goodbye lo Ihe Children's Home eaty in 2023 Os Ihey hod graduated from school ond commenced independent ve$. One. 'M' is in Cusco Nmlh her brothers. allempting to move into ljniversity or an English institute bul i8 olso considering appficalion lo be on Au Pair in Europe. The other. 'J' hos moved lo ma wth her godmother ond is studying catering bul atso hoping lo re5vme her studies in English. They are doing well in their yogres%on beyond the home and are contenl. confident. and settth. As the dder girfs moved out, it allowed Yanapasun lo provide svpport to other children ot the home - their situation is qvite different 05 they have strong connections th their families and Yanap05un is there lo provide lemporory accommodation to give them oc¢e55 to education. nutrition. and social inleraction. There is a long lisl ol children needing thi5 kind of support but there is no intention to welcome more children on a pemanent bosis. there is polentiol capocity for eight children. can9 In Brtstol: Project Z client aged 20 years saKI: -someone asked me the olher day. why do you go (fo Project ZJ ?1 said. to be heard." They descrlbe their initiol experiences of homelessness as "being in a bubble" on the slreels. The isololion leaves young people hidden in ploin sight. They were sfTuggling wth depression and low mood. Hamng o Project Z youth praclilioner meont they were prope listened to ond could ffnd a woy to develop a ProblerrS0lwng approach to translom barriers into bridges. A lot of hard work Was needed to create this shift. bul os they reflecled on OgreSS sold, "bit by bit I felt happier." Homelessne55 and many other presves that worsen the yluation make a seemingly inescopable trap tor many young people. "Tr)ey need to hear thot there are people who care. and will help, ond will listen., they said. "Now. when I meet people in distre55. 1 con listen and talk to them orKY help them., In the chaotic langle thal homelessness creates. il can be incredibly difficvll to identify sokJlion5. With the encouragement and Skilled support. the leam provide. change begin5. "One action." they said, "can hove a big outcome."
The Sunrise FovndaHon CIO Year ended 30 June 2023 Truslees, Report for the year ended 30 June 2023 Chunges &islol: Feedbock from some peer sUppCl groLJP members: "There aren't mony spoces in the wortd where you con exKYes5 SUaN thoughts and people not react Strongly or want lo ty and tt. instead you're met with empolhy and maybe even a hLJg ond of cOe this is all done in natwe - whrle the group one kind of container. natwe is the bigger container." "I'm not obne. They rnoke me leel volued. I have immved so much. I can remember getting a phone call from Changes ond l just bwst OLrt crying but when the call ended I know I was doing the right thing by joining as I felt o lot colmer. I'm not Ihe greatest with ¥vord5 bul hoving my group every week means the world to me. Ihey are playing o major part in my recovery olong with therapy. meds, mindfulness. and meditation. I would be 105t rf I didny hove them. l om blessed fo hove them In my life. Keep doing a greatjob Chongei" "A very importonl service to acce55 for mental health ond wellbeing when other doors are c105ed. arKI life feels hopeless." "It hos helped me feel less isolated- tt is the onty place where I con lolk obouf how I truly feel. lfr has given me more confKlence in speoktng OUthento11Y and supporling others. whh I find very rewarding. l aayS feel more p05ilive. mofvated. and hopeful." Gympanzees: Parent- "This session was absolutety kJnIlnt. It wos fontas)?c to See my son being himself. surrounded by the Gymponzees team ond other SEN porents who just understood that he didn't wont to say hello tK7ck. All his sensory needs were met-sensoryroom to colm down in, trampolines for big body movement& drum kit Ihis favowitell ond music room to do some experimenting." Parent.. "We love coming here because we dony have to soy sorry. when my son makes hoppy noises." Parent: "We covldny leove the hovse rf it wasn't for Gympanzee&" 12-year-old boy never sleeps. slept for 12 ho5 atter his visit to GymF)anzees. Two non-vert)al boys from separate farrilies started plawng together which both parents said never hoppens. One mum who had reCenY moved lo Bristd had been feefing isolaled until her Vit. A l (Year-old took off theiT ear delen(JeTS lor the ffirst time in public. On•25 Ltd: Ckent: "It mokes perfec* sense lo me why l ended up street sex-¥VOfking. There was nothing slopping me. It wos never an aspwotion or a dreom lor me. It W05 literolly a means to on end. It felt so desperote. having to get myself together enough to be oble to go OLrt ond eom money. I wouldn't have asked or even h(we thought of it. Health wasn't very high in my thoughts. If One25 hadn't existed . . I wOuld0babty not be olive." Client. Now l am corning to Peony I have some sort ofrovtine. Ihis is reolly helping me with my mental heollh and addiction and wftl realfy help me when I retLm to woth. With a mixtwe of being in the group ond having one-to-one l am able to figLKe out what the next steps ore for me ond move fotward in my lrfe. Peony is o place where I can be 'held' ... I hove never hod this in my life." 10
The Sunrise Found¢Jllon CIO Y•ar ended 30 June 2023 Twstees, Report for the yeai ended 30 June 2023 Flnonclal Revlew The ffnoncial state of affairs of lhe Charity È5 shown in the accomponying accounts. The majority of the Charity's ossels 05 at 30 Jvne 2023 were held as either investments or cash deposils. The Reserves ond Investment policie5 are ewoined elsewhere in thts Report. Investmenl Policy and Performance borclays has been oppotnled by the Foundation lo prowde o dscrelionary investment management service in rdalion lo 115 reserves. The purpose ol our Investment Polcy is to identity the inveslmenl objectives and parameters within which Borckiys can opefale. nvestm nl Ob- ive To MaTr¥Se lotol relums on inve51ments through capital giowFh and income. The Tiuslees are oiming to distribute £285.LXX) per onnum which may be 50vrced from income or copilal. Trle income generated is to be paid out ond form part of the £285,000 dislribution. The Trustees have the discretion lo incfease this omovnt rf required to meet all successful giant awards they wish to SUPPOrt. In order to en5VTe there is SLrfficienl funds lo meet the distiibulions Ihe Foundation wlll hold in the region of 12-18 months, wi)rth ol expenditure in c05h deposits. Hoiizon The investmenl time period is long letm l O years pkjs. The investment can be fiquidaled into c05h al any point and be availoble within len Wknng days. thic I Invest nt The Foundation's ethicol investment policy prohibits investments based vpon tt)ree parameters.. - Tobacco - Any comFX]nies Involved in prodvcing ond distributing tobacco products where revenues exceed l 0% of global eaming5. Armaments- Companie5 producing weopons and weapon syslems. including cluster mvnilions ond antt-personnel landmines. Companies whose core business includes the Supp of slraleglc components (such as weopons guidance syslemsl, arbd seThices are a150 excluded. Code of Ethics- Exclusion of Compan5 Ihal do not have a Code of Elhics P0CY. rhe Foundation has accepled a 'moderate' iisk profle in accordance wlh Ihe Borclays definition of 'moderote' risk which 15 05 follow5-_ "The portfo0 aims to lake on more investment risk Ihan a low or medium4ow portfolio wlh a view lo increasing the value ol the porttofio over the longer term lat leos11 O yeorsl. In order for the opportunity lo achieve Ihi5 enhonced potenlial ietum, the portfolio needs to active invest in higher risk financial in5twments. Thi5 may lead lo freqvent fluclualions in the value ol the porttofio, and there is o risk of making a meoninglul Ioss in adverse market condition5 on the money invested. even over longer time horrzons. in exchange for the p0sbility of increasing the inflation-odjusted value ol the portfolio over lime."
The Svnrlse Fovndallon CIO Year ended 30 June 2023 Trustee5' Report for the year ended 30 Jvne 2023 Risk Management The principol risks toced by the Foundation lie in the perfomiance of investments and operotional ri5k5 from ineffective grant making and Ihe capacity of the Foundation to moke effective grants. The Board ol Trustees undertake a review on performance on 0 5tX-monthty basis. The opeiational risk from ineffective grant awards is adthe5sed wlhin the Gront Applicolion Form ensuring Ihot key inlormotion is prowded and is aligned to the organisalion's governing documents. The Trustees wll check the following in eoch opication.. Organisalion legal name. address chority/company number. Latest Teport ond occounls submitted wlh Charify Commission. The main contact nome wrthin the application musl be someone from the organisation who can tolk about the woject. and we can conlocl during office hour5. They must be over eighteen years okl. FOT schools, someone who is directly empkjyed by Ihe schooi must submit the opplicalion Ifor example. a leacher or odministralorl. We need their date ol birth and home address for ow standard fraud yevenlion checks. e opplicant must ptowde landline telephone numbers. We mvsl have oll above detols promded for a senior contoct in oddilion to the moin contact name. During the grant application evaluation process. the Trustees will need to be assured of why each project Is needed and wll seek ewdence on whelher the organisathon consulled wlh Ihe people who would benefil from thr proposed proiecl. and what they lound out. Examples of the types of evidence may be: A meeling thaf anyone interested in your project can come to. A survey ol people who use their service or those who might use il. A waiting list of people who wont to gel involved in their aclivilies or use the semce. Is there a lack of type of facility. servtce. or activities in the local (weo ond whether people would use il if it were availotrjef Slalislics aboul people who would benefit from the Proposed project. Doe5 the project sUPPOrt any local or nalionol sfralegies? Evaluotion on previous projects Ot seeking feedback on a plot project. The Foundatton needs to know how each ryoiect aclivety seeks to invOe as wide a range of people as possible ond what the change or difference the 0jeCt would make. Each apthication must meet ol least one of the following outcomes to be considered for a yanl: Advoncing heollh or the saving of Ives Relieving sickne55 Health, education. or sickness prevention Rehobli ilalion. convalescence, or aftercare Relief of those in need lage. (fisabdity. Ilkheallh. financial or olher disodvantagel
The Svnrfse Foundation CIO Year ended 30 June 2023 Truslees, Report for the year ended 30 June 2023 Reserves Poucy The Charity's Investment Poficy is explained elsevthere in tt)is Report. The Trustees are aiming lo distribvte £285,IXXJ per annvm which may be Sourced from income or capital. To ensure there is SLrfficient funds to meet Ihe distributions the Foundation v1 hold in the region of 12- 18 months, worth of expenditure in cash deposits. The Sunrise Foundolion currently has minimol operational costs. Plans toi the Ivture The Sunrise Foundation CIO Trustees ore delighted wlh the sixth period's performance ond will consider what ha5 worked and what con be improved. As a very small chaiitable foundation Sunrise wii I continue its fvjnding strategy wth mulli-year grants Supporting certain grassroots cornmvnity 0Up5 and 5moller stzed voluntary organi5alions in the Brislollsovthwest region which significanlty benefits Ihew project5 in term5 01 year-on-yeor deyelopmenl both financially ond operolionally. This both consolidote5 the work ol the charities Involved, bul also alows Sunrise Trustees lo concentrate energy in a positive way developing relationships wlh orgonisolions. enobling them to gain a deeper understanding ol eoch organisalion's operotions and choNenges they lace. tt otso allows Sunrise lo see the lasling impact on end usei beneficioTies with the work being delivered ond what the funding is achieving. Looking ahead we wl eontinve lo exFAore how best we can support locol communilies in the short and long term and remain f¢xussed on investmenl retums fo expand our grant-maknng. Eord Greenhalgh lo¢nIng Sunrise in Ihe next ffinancid yearbllnging not onty their own yofessional experience, but 0150 a fresh perspeclive and an abundance ol compassion to help shape. support and contribule thew ideas and knovAedge as they leafft aboul Sunfise and the projects it supports. Svnrise 11 ensure overall direction and development ol Asociocion Yanapasun in Peru to make certain it delivers ils business plon and manages the charity's budgets elficienlly. as well as fvjllilling the organisotion's duty of care towards emiknyees. volunteers. and service users. Sunrise will conlinve lo ensure the Foundation is aVaYS focused on ils mission and meeting It5 charitable objects lo the best of it5 ability. Sur¥ise wl olso continue developing ils slrotegic direction and govemance rn accordance with its choritable objectives. legal and regulatory guideline5. A rewew wll be undertaken to update the Foundothon's Constilution sel up Initial in April 2017 to belter reflect the renewed focus on fvnding support to the local commvnitie5 within the Sovthwesl region, os well as the two indiwdual ptojects in Petu. The spirolling cost ot living crisis shows no sign5 of slowing. Dke the pandemic before it, we know that everyone is being affected. txjt not equal. Mony of the people otready 5trvggling on the lowe51 incomes and wth additionol needs ore being di5PToportionolely affected. The Sunrise Foundalion are Iruty inspired by the dedication ond commitment of stafl and volunleers behind each of the projects it supports. We shore their excitement and ambitions for the yeor ahead as we help them achieve their ot¥ectives in deliveiing substan*iol pos11ive impact lo more peopte in need. Approved by th stees and signed on their behdf by.. Tnjslee ..2024
The Sunrise Foundotlon CIO Year ended 30 June 2023 INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF THE SUNRISE FOUNDAlloN CIO I report lo the charity trvstees on my exominalion of Ihe accounts ol the charity for the year ended 30 June 2023 which ore set out on pages 15 10 17. Responslbllllles and basis ol reporl As the charity's Irv5tees you ale responsible lot Ihe prepaTotion of the accounts in accordance with the requirements of the Charilies Act 2011 I'lhe Act'}. I report in respect ol my examination of the charity's occounts carried out under seclion 145 of Ihe Acl ond in carrying out my examinolion I have followed au the applicable Dweclions given by Ihe Charity Commission under section 14515llbl of Ihe Act. Independ•nl exomlnerfs slal•ment I hove completed my examinofion. I confvm that no malellal matters have come to my ottenlion in connection with the examinotion giving me couse to believe Ihot in any material respect.. accoun*ing records were not kept in re5pecl of the charity os reqvired by section 130 of the Acl; or the accovnts do not accord with Ihose record5. I hove no concems and have corne across no other matters in connection ¥Mlh the examination to which ottenlion should be in Ihi5 report in order to enable a proper understanding of the occounts lo be reoched. Stuart Crisp Bsc FCA Corrigan Accountonls rrted First Floor 25 knng Street Bristol BSI 4PB Dated: 24 January 2024 14
The Sunrlse Foundatlon CIO Year ended 30 June 2023 Receipls and Paymenls for the year ended 30 June 2023 Notes Unreshicted General Funds Totol Funds 21)23 Total Funds 2022 Restricted FurHJ5 R•celpt5 Voluntary recelptS: Donations 736 736 691 Gill Aid recovered 736 736 691 Inv•stment Éncome: Interest received- bank accounts Dividends and inlerest received- investment accounts 37.867 37.867 39.831 37.911 736 38.647 40,560 Investment sales 298.IXX) 298.000 109.(YJO Total receipts 335.911 736 336.647 149,560 Payments Charitable ActiwtTes- cost ol grant giwng 1250.7081 {7471 {251,4S5) 1241,8711 Total paymenh (250.708) {747) (251.455) 1241.8711 Nel Of recdpts and payments Cash Funds Droughl Fonyard Cash Fvndi Cothed Forward 85,192 192.3111 10.270 93 10.363 102.674 95,473 82 95.555 10.363 15
The Sunrlse Foundallon CIO Yeai ended 30 June 2023 Slalement ol assets and liabllllles os 0130 June 2023 Generol unreslricled Reshicted funds funds 2023 2023 Total lunds 2023 Totol funds 2022 Cash lunds Bank accovnts 95.555 95,S55 10,363 Investment assets Inveslmenl fund shore5 al martel volue 1.060.817 0 1.060.817 1.349.83S Assels retalned for Ihe chorty's own use: Peru theropy centre ol cost 321.174 321.174 321.174 Uabllltles Fee lor independenl examinalion The notes on the followng pages fomi part ol these accounts. Approved for issue by the B0d of Trv5tees on .. loz4 . .g<•r ......... and signed on ifs behalf by: Trustee 16
The Sunrlse FoundaHon CIO Year ended 30 June 2023 Nol•s lo the Accounts lor the ye(Y •nded 30 June 2023 Accountlng poli¢1 Basls of preparalion These receipls and payments accounts are prepared in accordance wth Ihe Accounling Regulations Set out under the Choiities Act xii i. b. Grants pald The CIO make5 grant5 to olhef organisotions in the Ivrtherance of the charitable oliects of the Trust. See note 2. c. InveMentS Investment assets comprise investments held in shares. bonds. and similar 05sels. These investments are shown in the statement of assets and liablilies al Ihew morkel vdue at the yeor*nd. d. Flx•d Assets Fixed ossels retained for the chty,$ own use are induded in the stolement of ossels and liabilities al their cost. •. Fund accounting Unreslricted funds are avoilable for use al the discretion ol the Trustees in furtherance ol the general objectives of the Chartty- The General Fund represents the tree Teswes of the Charity alter ollowing lor any designated lunds. of which Iheie are CLwrentty none. Restricted funds ale donations which are to be used in OCCOT¢Jance with specific restrictions Imposed by donors or which have been raised by Ihe Charity for particular purpose5. The cost of raising and administering such funds ore charged ogainsl the specific fund. The Yanapasun Fund represents donations lowaTd5 the costs of a Iherapy cenfre and chli cten'5 home in Peru. Asociocion Yanaposun a chaTity in Perv which operale5 a therapy centre and children'5 home supporting disabledldisadvontaged adulls/chl(ken in Ihe commvnity. Transodlons wllh Twstees None of the Trustees have been paid any remuneration or received any other benefils from an employment wilh the Charity or o Tdoted enlity. Trustees are reimbursed for reasonable expenses. Charftable payments- c05t of gyant gmng Unrestricled General Funds Totol Funds 2023 Total Funds 2022 Resfricted Funds Poymenl of support cosls 2.184 2.la4 2.601 Gronts paid 248.524 747 249.271 239.270 Cost ol grant glvlng 747 251.455 241.871 The Charity has no employees ond therefore does not incur woge costs. 17