Midlands Funders WM Funders Annual Report 202425 Reference Infomiatlon Charity Name WM Funders Network Charlty Registration Number 1173579 Principal Offic• Hollingworth House 109 Court Oak Road Harbome Birmingham B179AA Trustses Steven Simpson (Chair) apt. November 2024 Melinda Connelly apt. November 2022 rina Costello apt. November 2023 Peter Cunnison apt. November 2022 Peter Hardisty (Treasur8r) apL November 2022 Wesley Lovett apt. November 2023 Debbie Pippard apt. November 2022 Pauline RoGhe apt. June 2022 - retired November 2024 Stuart Ashmore apt. November 2024 Carla Belle apt. November 2024 Sophie Tobin apt. November 2024 Person of Signlflcant Control Dipali Chandra Secretsriat Bank Lloyds Bank 32-24 AIc8Ster Road South Kings Heath Birmingham B14 7PU Indopondent Verffler Of These AGcounts Nick Wallace Midlands 0 % Funders 2.0 Introduction Thi8 period marked the first year of WMFN'8 refreshed three-year slrategy {2024-27), developed following in4epth consultstion with members and stakeholders. The new strategy refocuses IWFN'8 priorities inlo a leaner, more purposefvl programme of work - focused on four key thematic pillars that underpin its work.. Equty in funding; erwironmental sustainability., data, evidence and digital innovation and str8ngth8ning funder collal)oration for impacL The lives of citizens continue to be impacted by the rising cost of living, exacerbated by the continued global crises of the Russian invasion of Ukraine. conflict in the Middle East and wider geopolitical and irrternational trade uncertainty. Though there has been a Ghange in govemment, there continues to be civil unrest with areas of the country where communities remain divided and continued laGk of public confidence in leadership of key institutions. This continues to create a Ghallenging environment for the not-for-profft sector and the grant- making sertor as a whole. Despite these challenging times, the Network and its members remain commltted to their vital role in the region, as evidenced by the work we have undertaken. This would not be possible without the ongoing support of our members, the dedicated voluntary time contributed by our Trustees. Ambassadors and the invaluable as8i8tsnce of our funders and sponsors, led by the Networl¢s Secretary. The Trustees ￿nsider that the following report and slatements for the year ending 31" March 2025 meet the ststutory r8porling requirements as detailed in the Charities Act 2011. 3.0 Background and Context West Midlands Funders Nelwork (WMFN) was established as a charitable incorporated organisation (CIO) in June 2017 to continue the work of Charitable Trusts West Midlands an organisation that existed for over forty years. We are a cross-sector netrNork of people and organisations who give funding to chariti8S. voluntary organisations and comrnunity projects in the West Midlands. We work with trusts and foundations, IoGal authorities, lottery funders and corporate investors, helping them to use their reSoUr￿S efficiently and effectively to support local communities of place and interest. 4.0 Governance The Network has up to 12 trustee posts, 10 of which are currently filled. Trustees senie a 3- year temi and can be re-nominated as a Trustee for up to three 3- year tenns. Trustees meet 4 limes a year to consider the slrategic, financial and operational performance of the organisation, the management of risk and other matters necessary. The trustees ran two sub- groups during the y8ar: Programme Planning committee that consider, plans and evaluates the programme of activities. and a National Funders sub-group that shares their regional Mldlands Funders approach to grant-making in the region, directed by their nationally agreed strategies, where th8r8 might be opportunities for leaming and collaboration. Both committees during the year reported to the main board of Trust88s at each meeting. The Trustees have Gommissioned a seGretsriat service to provide day to day management of the Charity. This includes clerking the Board of Trustees, aGting as the first line of contact with organisation's members and, most importantly. the day-t¢￿aY delivery of the strategic priorities, programme of work. as prescribed by the sub-committees and Board of Trustees. Induction and Tralnin of new Trustees New Trustee8 are recruited from within the organisation's membership or the wider funding sector. After an interview with the Chairperson and Secretsry, new trustees receive an induction from the Secretary that outlines the work of the organisation as well as sharing an information pack Comprising key policies and procedures, constitulion, latest annual report and end of year accounts, management accounts and the organisation's latest stratsgic plan. 5.0 Rlsk The organisation has a risk register that is updated at least Iwice throughout the year but more frequently rf circUmstan￿S demand it. Risks are assessed on the basis of their likelihood (scored 1 to 3 with 1 less likely and 3 almost certain) and Iheir impact (scored 1 to 3 with 1 being minimal impact arKI 3 being maximum impact). The likelihood score is then multiplied by the impact score and then the impad score is added to the total to arriv8 at an overall risk score that balan￿S the probability and effect of any risks. In 2024-25 the risk scoring greater than 7 were: Reduction of Gore grants (score 12) Reduction of sponsorship and support in kind (score 12) Reductlon of trustees and increased skills gaps and availability (score 12) Downturn in the economy {scor8 12) Intsmational emergencies, global pandemlcs. terrorismlwar leading to disruption of business {scor8 9) Dependency on key contractors for services (score 8) All identified risks have mitigation strategies based around first preventing the issue and then mitigating its impaGt. :(b nbiArtivAs and Adlvltles The object of the Charity a8 stated in th8 Netr￿ork's constitution as a CIO is to promote the efficiency and effecliven8ss in the charitable activities of voluntary and not-for-profit organisations and grant making charities working in the West Midlands and its environs (Area Midlands Funders of Benefft) and the effective use of charitab18 resources for the public b8nefft in particular but not exclusively by promoting and developing good practice in Ihe making of Gharitable grants by exchanging infonnation, knowledge, expertise and experience. The current strategic plan'8 obj8Ctive8: Increase skills, knowledge and expertise among funders and others with an interest in civil society Establish VIMAFN as the 'go to, organisation for networking and sharing learning and information about issues of relevance to funding civil society Convene and co-ordinate opportunities for encouraging joined up approaches that work towards improving the lives of people living in the WM Build a financially robust organisation with multiple sources of income that will allow us to sustainably to secure the resources we need to deliver the above. During the year. this has been translated into the following: 1) Increasing knowledge, und8rstanding, skills and expertise among funders and others with an interest in civil society that is underpinned by the key thematic pillars. 2) Establishing WMFN as the 'go lo, organi&qtion for netr40rking and sharing leaming and information about issues of relevan￿ to funding civil society 3) Convening and Go-ordinating opportunities for encouraging jolned up approaches that work towards improving the lives of people in the WM WMFN is a membership organisation. Grant makers. and others that award money to civil society organisations pay a membership subscription in order to altend and participale in events run by the Network. Membership subscriptions are based on the amount of money a member awarded as grant income as reflected in the last set of end of year accounts. with those who awarded more paying a larger subscription fee. Under this model those larger organisations do subsidise Ihe membership of smaller Members to some extent. 7.0 Achlevements and Perforniance In this financial year the organisation has held or cfrhosted 9 events with 300 booked to attend and 288 people attending (instances of attendance) with a 96% return on bookings. Membership of the Ne￿Ork has slightly increased to 48 organisation members (an increase of 2 on the previous year and one member left) made up of ov8r 90 individuals of Trustees, panel members and staff. Sinc8 contracting a mark81ing and communications consultant, the Ne￿ork has seen Annual conference engag8menl grow from the previous year by 25%. Total website visits grew by 43% and unique website visitors grew by 47Yo from the previous year. The members newsletters campaigns have reduced as part of the Network's strategy to shift to fewer. higher-quality outputs. Open rates have stayed strong at 3fA50A. while click rates have rernained steady at 4°h. Fewer sends. better targeting. and stronger relevance are delivering higher-value engagement from our member communications. Midlands Funders Without the continued member subscriptions. support of funders: Barrow Cadbury Trust, Limog8s Trust, Owen Family Trust, resources in kind and sponsorship from Charity Bank, Rathbones, Brewin Dolphin, Heart of England Community Foundation, this would not be possible. From tackling the big debates in funding practice to exploring the em8rging frontiers of Al. the past year has been one of energy, experimentation, and shared learning for Members and wider stakeholders. Across a packed calendar of member roundtables, workshops. briefings and our flagship annual conference, members came together to exchange insights, and practice, challenge assurnptions, improve learning and strengthen its connection wilh wider stakeholders that operate in the region. Leaming Together, Acting Together Our members roundtable ex¢hanges- held in April, July, October. and January- continued to be a comerstone of the Network with on average 14 members attending. These sessions saw members share updates on strategies, grant programmes, and sector-wide challenges. From the implications of Bimingham Cty Council's budget crisis to updates on the National Lottery Community Fund's 10-year strategy, these gatherings have been spaces for honest discussion and mutual support. In April, attention turned to the local authority's Section 114 notice and the funding implications for the region's VCSE s8Ctoi, while October's exchange with IVAR unpacked how funders can become genuine leaming organisations. January's session broughl the National Emergencies Trust into conversation with members about inclusive funding and supporting communities in times of crisis. Data in Action May'8 hands-on workshop with Binningham City Observatory and th8 Digital Neighbourhood Network Scheme (NSS) bridged the gap between open data and pradical funding decisions. Members, data analysts, and pollcy practitioners worked together to tad(18 real-worfd questions: from mapping cold spots in service provision to understanding the socio-8conomic profile of women in East Birmingham. The event underlined a growing appetite among funders to use data more creatively - arKI more collaboratively. Annual Gonference 2024.. Participatory Grant-making Our June conference brought nearfy 100 delegates together to dive deep into Participatory grant-making - a growing movement that hands decision-making power to those with Iliied exp8rience. Case studies, including the Phoenix Way Programme. Birmingham Cty Council's Neighl)ourhood D8V81opment and Support Unit, Sported, Smallwood Trust and The Edge Fund highlighted how this approach can Ghallenge entrenched power Structu￿ In funding. Th8 message was dear. done well, participatory methods can make funding more equitable, responsive, and rooted in ￿MMunity priorities. Midlands Fur)ders Hot Topics and Emerging PraGbGe Throughout the year, IfvTrAFN provided Spa￿ to tackle urgent and emerging themes. July's meeting explored environmental justice. In November, members turned their attention to Artificial Intelligence with Adapta Consulting, weighing its potential benefits against ethical. accessibilty, and environmental concerns. The session revealed both curiosity and caution - and confimied the need for s8Ctor-wid8 guidanca. In February. a legal masterclass with Higgs LLP claiified th8 differenc￿ between grants. gifts, and contracts, and the fiduciary responsibilities that trustees must navigate. And in March, our place-based funding workshop gathered some of the UK'S leading fund8rs to examine how local partnerships can drive systemic change. The WM Funders Network continues to expand its connections with national and regional stskeholders and other infrastructure bodies, aligning with its mission to support members in making wider connections and enhancing their grdnt-making effectiveness. This has been a year of shared purpose. Whether unpacking complex legal duties. trialling participatory models, or exploring the data that underpins better decisions, WMFN'S work in 202ts25 refiected our members shared commitment to collaboration, leaming, and improving the impact of funding across the West Midlands. 8.0 Commentary on the Accounts The organisation has had a SUGGessful financial year with a budgeted surplus; as of end of year this was £7,757, far better than the budgeted deficit of £1,534. The important detail to observe however, is that the organisation has moved away from accrual accounts, returning to payments and receipts accounting. This meant that £3,123 of subscription income that could not be reported in the previous year's accrued accounts must now be entered into restated accounts for that period. As a result, the p￿VIouS year's accounts now show a surplus of £1.543 rather than the earlier reported deficit of £1,580. In addltion, Iwo grants from one donor were paid within the same year (one near the y8ar-start and the other near year*nd), constituting two years, grants, but now reported in the payments and receipts accounting period. The organisation's membership (bolh numbers and income} has remained reasonably steady, and despite recording two payments from on donor, when the later of these is deducted there is an increase in the amount the organisation re￿iVed from other trusts (£4,700 more) and sponsorship (£3.500 more). As a result of the move away from accrual accounts. income reported increased significantly by £11,036 to £33,819. The year's income was comprised of £19.200 in grants and donations, £4.000 in sponsorship, £8.533 in membership subscriptions and £2,086 in event income. Midlands Funders All income was generated in the UK and the organisation did not receive any funds frorn any overseas entities. Expenditure increased to £26,062, a small increase of £1.699 on the previous year. This was in part due to an increase in the amount spent on marketing and communications and a budgeted rise in secretariat costs, however, costs related to the Annual Conference were £2,756 representing a cost reduction of £812. 9.0 Roserve8 The trustees still assert it is prudent to hold 3 months. operating costs in reserve (c.£5,400). The trustees also wish to ensure that the charity always holds one month's secretariat costs in cash at all times (£1,800). As of 30th March 2025, the charity was holding £17.175 in cash which is signrficantly above the reserve aspiration. 10. Publlc Benefft The Trustees of the charity have given due regard to the Charity Commission's guidance regarding public benefit. No individuals have benefited directly from the organisation'8 activities; however, the public has beneffted from the organisation's efforts to improve the quality and effectiveness of grant making in the West Midlands. In 202425 this public benefit is derived from the efforts the organisation has made to share besl practi￿ regarding the equality, diversity and inclusion in accessing funding opportunities,. global climate change and environmental challenge, responding to national emergencies, access and use of dats and information to inform where funding is needed the most. and applying good practice in fijnding learnt from participatory grant making approaches that involve those with lived experience of the issues and the continuing impact of the cost of living crisis. 11. Rèlatsd Partles No Trustees benefited from their ￿latIonShIp to the CIO and no payments were made to trustees excepting. any expense reimbursement once legÉtimate expenditure has been defrayed and evid8nc8d. 12. Future Plans The charity now has a comprehensive plan for the next three years. This plan focuses on delivering a smaller number of higher quality events for members while diversifying and increasing the charity's income. 2025 Though the charity planned to deliver four high quality events a year from April 2024 that are, in effect, half day conferences. This has been possible. due to unsuccessful bids to secure Midlands . Funder5 funding to financ8 its d81ivery- in particular, covering th8 marketing and Gommunication costs. The charity will continue to develop the Iraditional fonnat of the members round lable discussions but look at timely opportunities to refiect spotlight important Government policy direction on social issues that many members prioritise through their funding programmes. A follow-up to the November workshop on Funding and Al will be th8 focus of WMFN 2025 annual conference. The charity plans to investigate ways of opening new and maximising existing income streams by refining its sponsorship offer. implementing a voluntary excess donation scheme and comparatively ￿VIewIng its subscription rates. We will endeavour to Secure conference venu8S that are both more cost effective and linked to disadvantaged communities across the West Midlands or relevant to conference focus. Trustees plan to invest any new funds raised or released in enhanced marketing and communications that will allow us to grow the charity's profile. 2025 and Be ond As funding to enhance Network's marketing arKI communications is secured. Trustees will seek to develop more richer content for its news updates and create informative and resource filled follow-ups to events, as the 'go to, organisation for networking and sharing leaming and information about issues of relevanc8 to funding civil society. Signed on b8half of the Board of Trustees by Stsven Simpson Chalrperson Midlands X Funders West Midlands Funders Network Annual Accounts For the Year Endlng 31st March 2025 This Year (2025) Last Year (2024) Re￿IPtS (Income) Allocation Membership Subscriptions Event Income 8,533.00 2,085.67 19,200.00 4,000.00 0.12 33018.79 13,651.00 2,455.00 9,300.00 500.00 Donations from Other Trusts Sponsorship Bank Interest 0.12 Total 25.906.12 Payments {Expendlture) Secretarlat Costs 20,720.IXI 19,120.00 17.97 Postage and Stationery Costs Travel Costs Membershlps and Subscriptlons Marketin8 and Consultancy Events Costs Totsl 74.85 104.14 2,511.00 2,756.39 26,062.24 1,552.93 3,568.20 24.363.24 Surplus (Deficit) for the year 7,756.55 1.542.88 Total Cash at Bank at year end 17,175.22 9,418.67 West Midlands Funders Network Balance Sheet For the Year Ending 31st March 2025 2025 2024 Acrrual for Income paid in advance £ 3,123.00 Cash In the bank and at hand £ 17,175.22 £ 9,418.67 CHARITY COMMISSION FOR ENGLAND AND WALES WM Funders Network 1173579 Recei ts and ments accounts CC16a For the period from 0110412024 3110312025 Section A Receipts and payments Unrestri¢ted funds Restricted funds Endowment funds Total funds Last ￿ar to the nearest to th• nèarest £ to ¢he nèarèst £ to the ngare8t £ to the n¢argst £ A1 Recei ts Donations rants and Membership subscriptions and sponsorships which are in 19,200 19,200 9,300 8,533 4,000 12.533 13,651 Other 2.086 2.086 2,95S ross income or AR) 29,819 4,000 33,819 2S,906 set an see table Investment sa es, Total recelpts 33.819 A3Pa ents Advertising, markeling. direcl mail and ublicil Secretariat costs Event costs Travel costs 2,511 16,720 2,756 75 2.511 20,720 2,756 75 1.571 19,120 3,568 104 4.000 Sub total 22,062 4.000 26.062 24363 A4 Asset and investment Sub total Total payments 22,062 4.000 26.062 24,363 Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end 7.757 7,757 1,543 .876 9,419 17.176 17,176 CCXX Rl accounts {SS) 1611212025 Section B Statement of assets and liabilities at the end of the period Unrestri￿od Restricted Categorles funds funds to neargst £ to noarest £ Endowment funds to nearest £ Details B1 Cash funds Cash funds. as of year end 17,176 Total cash funds 17.176 18gree balance5 with rKeipts paymeffls acc¢xJniisll Unrestrlcted funds Restricted funds to nearest £ Endowment funds lo nearest e Details NIA to nearest £ 82 Other monetary assets Fund to whlch gset belon Details NIA Cost loptionall Current value tional Fund to whlch asset belon Current ¥alue t10r￿1 Details NIA Cost loptionall B4 Assets retained for the charity's own use Fund to which relates Amount dug tional lfyThen due tional Details NIA B5 Liabilities Signed by one or tsvo trustees on behalf of all the Iruslees ignature Print Name Date of roval fÉ £ l-LAeDJS CCXX R2 accounts ISS 1611212025 Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees WM Funders Network On accounts for the year ended 31.3.25 Charity no (if any) 1173759 Set out on pages Set out on page 9 of the Trustees Annual Report 24-25 and pages 1 and 2 of the accompanying CC16a. I report to the trustees on my examination of the accounts of the above charity ('the Trust") for the year ended Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination, which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Date: Li Name: Nick Wallace Relevant professional qualification(s) or body (if any): Address: 58 Mossfield Road Kings Heath Bimiingham B14 7JB IER Oct 2018 Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. NIA IER Oct 2018