Charfty Reglstratlon No. 1177435 CoMn¥ Regfjstratlon No. 10924797 (England and Waksl EDUCATING FOR IMPAcr ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
EDUCATING FOR IMPAcr LEGAL AND ADMINISTRATIVE INFORMATION Trustees JDpllp Aflalo Kate Goldberg Prof. David Seymour L3tthman Ronald Stephen Lauder knhua Isaac Spinner Diego niqUe Charhy number 1177435 Comparry rtumr 10924797 Re8i#eted office Atre House 11-15 William Road London NWI 3ER Unlted Kingdom Audltor HW Flsher Audit kre House 11-15 William Road London NWI 3ER United Kin8dom Oanke Meiro Bank One Southampion Row London WCIB SHA United Kinedom
EDUCATING FOR IMPAcr CONTENTS Trustees, report St3tement of Tru5tee5' respOn%.11t1eS Independent auditor'5 report statement of financlal actSvS1ies Balance sheet io Statement otSh flows li Noies ro rhe finaTrcial ststements 12-17
EDUCATING FOR IMPAcr TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 AUGUST2024 The Trustees present their report and financial staiements lor theye3r ended 31 August 2024. The financI31 statements have been prepared in accordance with the accouTrting policies set aut in note i to the financial statements and comply with the Charity's Articles of Association. the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement c>f Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR5 1021 (effective l January 20191.. Objtctives and activities The charitable purposes for Educating for Impact I'EFI'I are.. The advancemenr of education in the fields ol Jewish Himory. Jewsh tradition at)d Jewish Cultre and the advancement of the Jewish fairh with particular focus on the development of the curriculum, and teachin8 methods, In Jewish schools and educational establishments throughout Europe., and The furtherance of such charitable purposes as theTrustees in thefjr absc4ute disCretn see fiL EFI'S mission is to underwrite the continued. successlul existen of attive Communiiies in Europe through education, amon8 other facets of Jewish life. A5 a result of EFI completing its init1 scope ol work wrth 18 cities and working with 8 communities on plannini strate8lcallyfor their future, the program has successfully 5UPPOrted communities wilh skills development, knowledge and resources towards becorning sufficiently sustainable rhat they can continue wiihour rhe support of EFI. This was part of the original purpose of ihe iniiiative. Accordingly, in 2025. rhe Trustees hawe decided io begin the process of completina it5 obli8ation5 Wlth the communities with which li work5 and io phè5e out actwitie5 in its currerbt format. It 15 erwisa8ed ihat thi5 wlll take a number of years and that EFI will then be wound down, In the p35t year, EFI ha5 expanded1¢5 interyention into certairb Eyropean Jewish communitie5 to help ensure their actlve, en83ged and sustainable exis¢ence. Gwen the 5ucce$5 of EFI'S inieNention in Ihe schools. some comrnvnitie5 requested the sarne process and methodology is applied more broadly and deepty ¢0 Ihe communiiies ¢hem5elves. While Jewish day schoo15 are seen a5 the critical starting point for each community joyrney, EFI ha5 begun 5UPPDrting Certain communities with strate8ic and transformation projects to enh4nce the community's rel105 institution5. infrastructure and leadership to ensure $upportive and cornplernentary foundation5 for any schoDI-based work. The tru5tee5 confirm that in settin8 EFI'5 objtcti¥e5 and planning the actiwties. thry have complied with their legal duty to havè due regard to the CharityCommis$ion5 8yidance on public benefit. Athbevernents and perforrnanc¢ As of the date of this report. EFI has completed Kts oriynal scope ol wor* In 18 ciries by assisring each school to Implement sustainable change and ro encode this in the culture of rhe school and communily SO thar they can address both present and future challenges and build active Jewsh communirie& Over the course of EFI'S inrervenrion. it has seen snificant success in IES work through xhools becoming more effective Contribur5 tojewlsh life and bvildinga relaiionship ol irust and shared knoe0£e wilh ihe communities. Specifically, some of ihe achievements of EFI'S work rodate include-. two new Jewish schotrls were founded.. 18 straiegic and m155ion-fDcused school boards were transformed,. a twofold increase in Jewish studies teachers viith ongoing professional development,. gro¥vth rates in Jewish school and kindergarten enrolment re3ched between 1846%.. rnore than So new community leaders were identilied and developed,. and there was a clear step change in irnprovements in Jewish studie5 curricula. 8uilding on its achievements of the last few year5. EFI ha5 continued to SUPPDrt Jewsh communities to e5tabli5h a robust Jewish ethos in the cornmunities where EFI work5. EFI applie5 its strateC. outcorne41riven rnethodology on a holistic level to Jewish cornmunal institutional. reli8lOU5, and educational life.
EDUCATING FOR IMPAcr TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2024 EFI'S broader approach include5 community centers. synagoBiies. camps. adulr educarion oflerings. and orher programs and This approach grew from the undersiandinB rhat no one instirution. no matter how important. can make the existential difference for communities. when led with relentless strategic focus and a disciplined alltxation of resources. Rather, communities in their entirety must move expeditiousty iThihis dirertion. PlaTh5 lorlhe fvture EFI cont5nues to help Jewish tommunitSes in Athens. Bedin, Helsinki. Madr. Prague. Rome, Sofia and Stockholm plan strategically for a vlbrant and adsve Jewish future. EFI Éuides stakeholders to think and act a stratsglc. outcomtrdrlven rnat)ner. This approach has had transformatSve results when pplied 10 schools. With certain communities that have demonstiated the capacity for chan8e. EFI Is workinR on deeper. broader nd community specific siraie8ic processes that can magnify the impactof e¥ery aspect ol£ommunèl life at lar8e. As mentioned previeusly, the Trusrees have decided to begin the process of completing ris obligations vlith the communities with whlch it works and io phase eut artivities in its current formal. li is en¥isa8ed that this will tske a number of years and thar EFI w511 then be wound down. Flnanclal reylew Intome for the year to 31 August 2024 totalltd $1.350.232 12023 $1,788,339> with 8rants made by The Ronald S. Lauder Foundatlon , Maurite and Vivienne Wohl Philanthropic Foufidation. Joint Distribution Committee and Rothschild Foundation Hanadiv Europe. Expenditure for the year ended 31 Au8USt 2024 totalled $2,012,27412023.. $1,984,7141 and was in line with EFI'S bud8et fer the perlod. Expendlture is verytS8htNf controlled bythe Tmstee Two fundin8 partners. the J¢int Oistribution Committee and Roihschild Foundation Hanadiv Europe, concluded Iheir core support at the end of the 2023 financial year. EFI is deeply grateful lor their contributions. which have si8nificèntly advanced its mission over the years. EFI thelare generated a deficit in the year of W2,04212023 deficitof.. $196.3751 and net assets at 31 Au8USt 2024 amounted to $449,40412023.. $1,111,4461. EFI'S initial 5 year plan was predicated upon very broad and encompassing work in 20 communities and cities across Europe. As was envisioned from the start, the initial pilot part of the model would be less costly while the end years would bulld to an apek and then taper off as the flrst cohorts would 8raduate and exit the 'l.tr part of the proÉram. As such. the Income and correspondlnÉ activlty for the first few was buSlt to accommooats the build up of resources for the purposes of coverin8 expendlture in the final years of the program. This Is Indeed plawng oui as envlsaged. Re5erve5 polfjcy A5 noted above, EFI is now iri the tapewin8 ppriod of the initiative. The re5erve5 at 31 August 2024 were y49,404 1202a.. $1,111,4461. The Tru5tee5 have decided that thi5 reseThes polity 15 Sufficient to 5UPPDrt EFI during the proce55 of cornpletin8 It5 obligatlOn5 Wlth the cornmunities with ¥Yhich it work5 and to phase out artivities in it5 CU1 forrnat. It 15 envisaged that thi5 will take a number of years and that EFI will then bewound down. R4sks The Trustees asse55 on an anrlual basis the major risks to which EFI is exposed, in particular those related to operations and funding of the charity and are satisfied thai adequate systems and procedures are in place to mitigate exposure to these major risks. The principal risks faced by the charity are related to funding and also operational risk5 related to ineffectively or failing to reach agreement with schools or cornmunities which had inrtially been identified forsupport.
EDUCATING FOR IMPAcr TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2024 The funding risks are mitiEared b¥ multi¥ear contracts and agreements that indude pledges and Commitments to be paid by the consortium partners in advance of operaiions. Comprehensive projection5 that allow for operational flexibility. depending upon funding recei¥ed. a prepared and approved by the Trustees. This ensure5 that activities can be increased or decreased well in advance of the term of collaboration with new schools and communities. Operational risks are mitiaated by on8oing monitoring to ensure that the schools and cornmunities adhere totheir agreements. Strurture. 8overnance and mana8ernent EFI Is a charitable company IlmSted by8uarantee. 11 1$ 8o¥erned by its Artlcles ol Assoclatlon. The Trustees. who are also the directors for the purpose ofcompany Law. and who served durin8 theyear and up te the date of siÉnature of rhe flnancial statements were.. Sally Anna Berkovic Kate Goldberg Prof. Oawid Seymour Latchman Ronald Stephen Lèuder (Resyed 26April 2024 Dlego Ornlque Ariel Zwan8 (Resigned 26April 20241 EFI wa5 e5tabli5hed by two foundations Ihat ore leaders in the lield ol Jewish Education in Europe, The RonHld S. Louder Foundation and The Maurice and Vivienne Wohl Philanthiopic Foundation. These Iwo foundation5 are olso the two company rnember5 ol EFI I'Foundin8 Member5'1. The Article$ of A550Clation provide that Ihere shall be 8 minimum 01 four trustees of EFI 8nd at least two trustees èppointed by each of the Founding memr5. Tru5tee5 are appDinted for a ihree year term of oifice but mty be reappointed. The quorum èt rneetings of Trustees requires at leèst one trustee appointed by eèth Foundin8 Member to present. Thè Chairrn8n and Vicè Chairman are selected from amonist the Trustees èpwnted by the Faundin8 MÈmbs ahd sefft fer two years. Durin8 the year, Professor DÈvid Latchman served Ès Chairmèn ol EFI. NewTrustees may be admitted by a majority resolutKsn of theTrustees. At a bobrd rnèetin8 on 25 july 2018, thè Trustees resolved to appoint four additi¢nal Trustees of EFI. These Trustees were drawn from other philanthropit or8anisations who work across Europe and have è particular interest and knowled8e in deliverin8 proqrams in Jtrwish education. New Trustee5 are iornmitted to 5eein8 through the mi55ion of EFI and identifw'n8 new iommunitie5 where EFI operate. A welcome pack is made availèble to the new Tw5tee5 th iniludes the Articles of Assotiation of EFI. the prewou5 year 5 finèniial statements and a brief history of EFI'S past and cutyent attiwtiE5. The welcome pack intlude5 a topy of the Charity Cemrni55ion guidance -The Essential Trustee.. What you neÈd to know-. -charitie5 and Public Benefit" and the-charity Governance Code for Large charities". All Trustees receive copies of EFI'S Bovemance policies includinR those on conflitts of interest and safeBuardinz. In addltion, they sign the Code of Good Prattice and complete a Detlarntion ol Confiicts ol Interesi fom) annually. All Trustees receive training deemed necessary. Trustees have access to resources and support. and are encouraÉed to particlpate In relevant conferences, workshops and events. The senior staff and consultant remunetsrion is delegated to a small exetuti¥e body within ihe Trustee board. which has relevant HR and financial experience and expertise_ This body meers annually io detemiine remuneration by taking into acctsJnt performance. budgetary eironMenr and benchmarking. As sraff and consulrants are hired. EFI considers such tsctors as rhe si of the charity. eeoEraphic locations. local market rates and tomplexityof operation&
EDUCATING FOR IMPAcr TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2024 Conflicts of interest and safe uardin All Trustees give of their time freely and no irustee received any remuneration in the year_ EFI trustees reviewed and approved the Conflirts of Interest Poliry OTr 25 5epternber 2024. Trustees receive a copy of the Conflicts of Interest Policy and are required ro disclose any additional interesrs that they rnay have during the year on an annual basis. All Trustees adhere to a Code of Good Praaice. The Trustees and stsff are wuired to dixlose all relevant Inrest5 and withdraw from decisions where and when a conflict arises. The Trustees have 31so approved an anti-bribery policy and a copyof this policy is sent to each new participating sch11. EFI Trustees have approved a 5afegu3rdin8 poliry on 4 NovembEr 2024. EFI note5 thatthe chaTity itself does not work directly with children or vulner3ble adult5, but rather provide5 expertise and fundin8for schoo15 and comrnunitie5. While Trustees are mindful of the need for additional care so far as concerns 0r5eaS schoo15 and communitie5 which are not subject tDthe same legol obli8atlOll5 in their respectilurIsdictionS. EFI recogni5es the importanceof sale8uardin8 and it5 obligation to promote the welfare of all children. OcWon maklmi The Trustees or eFI meet three times a year. The Trustees clearly outllne the roles and respok)slbS1itSes of Trustees and stslf members in de£islon4naklng processes. Trustees focus on strate81£, policy, bud8etary, and o¥ersl8ht declslons. The Executlve LeadershSp Team are re5ponslble fcrf operatSonal and dty-ttrday dedsionSlh1n theirareas of expertlse. Olscltysur ol Informotlon to adOr Each of the Trustees has confirmed that there Is no information of which they are aware which is relevant to the audlt, but of whlch the auditor 55 unaware. They have further conftrmed that ihey ha¥e taken appropriate steps to Identlfy such relevant Infomation and to establSsh that the auditor isaware of such Informaiion. The Trustees, report was approved by the Board olTrustees. Prol. Davld S•yrnour Latshman TrustEe Dated.. 26June 2025
EDUCATING FOR IMPAcr STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST2024 The Trustees. who are also the dirertors of Educating For Impart for rhe purpose of Company Law. are responsible for preparin8 rhe TrusrÈes' Report and rhe financial siarements in accordance with applicable law and United Kingdom Accounting 51andards (United Kingdom GenerallyAccepted Accounting Practicel- Company Law requires the Trustees to prepare financial mtements lor each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and applicaiion of resources. Including the income and expenditure, of the charitable companyfor that year. In prep3ring these financial Statements. theTrustees are required to.. select suitable iccountin8 policie5 and therb applythem con5i5tently.' - observe the method5 and principle5 in the Charities SORP.. - rnoke judgements and e5timatesthat are reosonableand prudent: and prepare the flnonclal 5t3tements on the 80in8 Concern ba515 unle55 It 15 inappropriale to presume that the Charlty will Continue in oper4tion. The Tru5tee5 are re5pon5ible for keeping ade9uale accountin8 records that di5c105e with reasonable accuracy at any tlme the financial p051tion of the Charity and enablè them to ensurè that Ihe financial stèiements comply %Yith the Companies Act 2006. Thev are also re5pon5ible for safe8uarding the ¥sstts ol the Charity and hente lor takin8 rèasonable steps for the prevention and detection ol Iraud and other irre8ularitie$.
EDUCATING FOR IMPAcr INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EDUCATING FOR IMPAcr Oplnlon We have audited the financial statements of Educating For lfflpact Ithe'charity'l for the year ended 31 Au8U5t 2024 which iompri5e the statement of financial activities, the balance sheet, the statement of o5h flow5 and the notes to the linancial statements, includin8 significant accounting poliiies. The finaKial pOrting ftamework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includin¥ FR$ 102 The FinunciulRewrtingStaRdard Gpplicoble in the UK Llnd Republic of Ireland (United Kingdom GenerallyAccepted Accountin8 Prxticel. In our opln5on, theflnanclal statements.. 8ive a true and fair view of the State of the charitable compary'5 affair5 as at 31 Au8U5t 2024 and of its incomin8 resource5 and application of resources, including its incorne and expenditure, lorthe year then ended.. have been properly prepared in accordance wih United KinÉdom Get)eially Accepted Atcountln8 Practlce.. and h4ve been prepared In accordance with the requirement5 of the Companie5Art I. O4$1s lor opSnloh We conducted our audit In accordance with International Standards on Auditing IUKI 11SA5 IUKII and applicable law. Our responsibilities under those standards are further described in the Audirors re5ponsitsltriesAor the oudit of thefinonciul srotements section of our report We are Independenr of the Charity In accordance with the erhical requiremenis thar are relevant to our audit of the financial statements in the UK. Includin8 the FRC'S EthKal StaThdard, and we have fulfilled our other ethical responsibilitie5 in accordance with these requiremerlts. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for eur opinion, Éfflpha$ls of rnatt¢r.fflnandal s¢alem¢nts prepared on a bas15 glher lhan golns n(rn We draw atientlon to note 1.2 to the financial statements. whi£h emplains that the trustees Intend to be8ln the process of completln8 ils obli8ations with the communities with which Il works and to phase out activities in its current format. It is envisa8ed thai this wlll take 8 number of years and that the Charity will then be wound down and cease to operate. Therefore, the trustees do not conslder It to be appropriate to adopt the 80in8 concern basis ol accouniin8 in preparin8 the financial statements. Accordln8ly, the financial statements have been prepared on a basis other than lolng concern as described it) note 1.2. Our oplnSon Is not modified In respett of thls matter. other Informatlon The other information comprlses the infomiation ihtluded in the annual repNt other thafi the financial ststements and our èuditor's report thereon. The Trustees are responSie lor the other information contained within the annual report. Our opinion on the financial Statements d0È5 not to¥er the other information and. èxeept to the extent otherwise Èxplicitly stated in tsur report, wè do not èxpres5 any form of assurance coriclu5ion thereon. Our responsibility 15 to read the other information and, in doin8 50, consider whether the other inforrnation is rnaterially inionsistent with the finala1 staternents orour knowledge obtained in the course of the audit, or otherwise appears to be materially mi55tated. If we identify such rnaterial inconsisteniie5 or apparent material rni55tatements, we are required to determine whether thi5 ¥Ne5 rise to a material mi55tatement in the financial 5tatement5 themselves. If, based on the work we have performed. we con£ludE that there is a material mi55taternent of this other information, we a rÈ9uired to report that fatt. We have nothin8to report in this regard. Opinions on other matters prerIbtd bythe CompaniesAtl 21*J6 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Trustees. report, which includes the dirertor< report prepared for the purposes of Company Law, forthe financial year forwhich the financial statements are prepared is consistent with the financial statements., and the director5, report included within the Tru5tee5' report has been prepared in ac£ordance with applicable legal requirement5. Matterson which we are required to report byLYception In the light of the knowledge and understandinÉ ol the Charity and its enwronment obrained in the course of the audit, we have not identified material misstatements in the directors, report included wiihin theTrustees' report.
EDUCATING FOR IMPAcr INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EDUCATING FOR IMPAcr We have nothing to report in respett of the following matters in relatw to which the Companies Art 20(b requires us to reporr to you If. In our opinion-. adequate accountinÈ rttords have not bÈen kept. or rÈtum5 adequate foT our audit have not been reteived frotn branthes not visited by us., or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by la¥Y are not made.. or we hawe nc>t received all the information and explanationsvie require for our audit,. or the Trustees were net entitled to prepare the finantsal statements in accordance wlth the small cempanies reElme and take advantage of the small companies, exemptjons in preparinÉ the Trnstees, repm and from the reouirement to prepare a strateg5c report. Responslbllltles of Trustees A5 explained more fully in the sternent of Trustees. responsibilities, the Tvustees, who a 0150 the directors of the Charity for the purpose of Company Law, are spOnSible for the preparation of the financial 5tatement5 and for being 5ati5fied that they give a true and fair view, and for such internal control 35 the Trustees determine 15 nece55ary to enable the preparation of financial 5taternent5 that are Iree from material misstatement, whether due to fraud or error. In preparing the financial 5taternent5, the Trustees are responsible for a55e55in8 the Charity's ability to continue as a 8oiTr8 concern. disclosin8. a5 applicable, rnatter5 related to going tontern and u5in8 the 8oin8 toncern basi5 01 attoufitin8 unless the Trustees either intend to liquidate the eharitèble tompany or tts tease operètions. or have no realistic alttrnative but to do w. Audltot's rtsponslbllltleslortht udlt olthe ftn*ntlal sthtemthts Our objecrives are to obtain reasonable assurance abwi whether the financial statement5 è5 a whole are free from materia1 rnissiatement, wherher due ro fraud or error. and ro is5 an audiror's pOrr that Includes our opinion. Reasonable a55urance is a hi8h level of assurance but is not a 8uarantee that an audit condurted In accordance wth IUKI will always detect è material rnissiatement when Ir exlsts, Misstarement5 can arise from fraud or error and are considered material if, individually or In the ag8regate, they could reasonably be expected io infiuence the economK decisions of users tsken on the bo515 of these flnancial sratements. Irre8vlarltie5, Inclvdlng fraud. are instance5 of non-compli3nce with laws and regulation5. We design procedures In line wlth our re5pon5ibilitles, ouilined above, to deteci rnarerial m15s¢aiemenis in respeci of irregularities, includin8 fraud. The extent lo which our procedures are capable of detectin8 Irre8ubritie5. Includin8 fraud 15 delailed below.. A5 part of our plonnin8 proce5S'. We enquired of rnanagement the 5y5tems and contro15 the Charity ha5 in plKe. the aa5 of the financial statements that are most SU5ceptible to the risk of Irregularities and Iraud, and whether there was any known, Suspected or alleged fraud. The charity did not inforrn us of any known, suspected or alleged fraud. We obt3ined an understanding ol the le8313nd gUlatOry frameworks applicable to the Charity. We determined that the following were rn05t relevant.. the Charity SORP, FR$ 102, Charitie5 Act 2011 and Companie5 Act 2006. We cc>nsidered the incentives and opportunit5 that exist in the Charity, including the extent of mana8ement bias, which present a potential for irregularitie5 and fraud to be perpetuated, and tsilored our risk assessment accordin81y. Using our knowledge of the Charity. tO8ether with the discussion5 held with the Charity at the planning stage, we formed a conclusion on the risk ol misstatement due to irregularities irKludin8 Iraud and tailored our procedures according to this risk a55e5sfTient. The key procedures we underti)ok to detect irregularitie5 includin8fraud during the course of the audit included.. Identifying and testingjournal entries and the overall accounting record5, in particular those that were 5ignific3nt and unusual. Reviewingthe financial statement disc105ures and determinirw whether accourting wlicies have been appropriately applied. Testing key iniome line5 for evidence of management bia5. A55e55in8 the validity of the cla55ification of income. exppndituTe. a55et5 and liabilitie5 between unrestricted and restrirted funds. Obtainin8 third-party ccnfirrnation of material bank balance5. Documentln8 and verifyin8 all signthiant related party balance5 and tran5actlOnS. Rewewing document3tlOll such a5the Charity board rninute5, for di51U55ion5 of irre¥ularitie5 includin8fraud.
EDUCATING FOR IMPAcr INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EDUCATING FOR IMPAcr Owing to the Inherent limitations of an audit. there is an urwoidable risk that we may not have detected some material rnissiatements in rhe financial stsiements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the Trustees of the Chantv. A further description of our responsibilities is available on the Financial Reporning Council's website at." https.'l/www.frc.org.uk/ auditor5re5pon51bilities. This de5criptiorbforms rr of ourauditoes reporr. Use of our report This report is made selely to the charltable company's memb*s, as a body, in a¢wrdance with Chapter 3 of Part 16 of the Companles Aci 2006. Our audit work has been undertaken so that we miÈhl State 10 the charitable company's members those matters we are required to slate to them in an audiior's report and for no Other purpose. To the lullest extent permitted by law. we do not accept or assume responsibi1Sty anyone other than the charrtable company and the charitsble compan(s members as a body, for our audlt work, for thls report, orfor the oplnlons we have formed. Andrew Rleh1Senlor St•loryAUdlior1 for and on behalf of HW FlsherAudit Chartered Accountants Statutory Auditor Acre House 11-15 Willlam Road London NWL 3ER Uniied Kln8dom 27 Jun 2025
EDUCATING FOR IMPAcr STATEMENT OF FINANCIAL A1VITIEs INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST2024 un51r1 Re5trfrted lunds lunds 1024 Total Unrestricted funds 2023 1024 2024 Incorne from.. Donaiions and leÉacles 1,250,COJ lfy),Z32 1.350,232 833.332 955,(M)7 Total Income 1.250,¢ IiYJ,232 1,350,232 1,788,339 end61ure on.. 1.912,042 ItX),232 2.012,274 1.984.714 Net expendlture lor theye•rl Net movemen¢ In funds 1662,0421 1662,0421 1196,3751 Fund balances at I Septembvr 2023 1.111,446 1.111,446 1,307,821 Furbd balances at 31 August 2024 449,404 449,404 1,111,446 All Sncome and expendlture derive from contlnuin8arti¥ities. The statement of flnancial activitles also complles wlrh the requlrements lor an income and eNpendrture account under the CompanlesArt 2006.
EDUCATING FOR IMPAcr BALANCE SHEET ASAT31 AUGUST2024 1014 1013 Notes Current assets Cash at b3nk and in hand 6[.99? 1,221,065 Credltors: amounts fallin8 due within Onear 1157.5931 IIIY),6191 Net current assets 449.404 1,111,446 Income fvnds Unrestdtted funds 449.404 1,111,446 449.404 1,111,446 The financlol statements were approved bytheTru5tees on 26June 2025 Prol. David Seymour Latehman Trustee Comparry Re$tratIon No. 10924797 10-
EDUCATING FOR IMPAcr STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST2024 IOZ4 1013 Cash flows from operatlnt a¢tl¥ltles Cash absorbed by operation5 13 1614,0681 1135.5071 Net cash used in Inve5tingactlvities Net cash used In financln8 artIVleS Net dètrÈasÈ In tash and ush *qul7raltnts 1614,0681 1135,5071 Cash and tash equfvalents * be8inmifi8 of year 1,221,065 1.356,572 Cash and tash equ11#1$ at end of year (th,997 1.221,065 11
EDUCATING FOR IMPAcr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 Ar108 pollcles Charlty Inlorniation Educating For Impatt is a Priwdtt company limited by Euarantee ir*orkw)rated in Enoland and Wales. The reÉIsted office Is Acre House, 11-15 William Road, London. NWI 3EK Llniied Kin8d¢)m. 1.1 Accourfin8 con¥entlon The financial statements have been prepared in accordance with the Charity's Articles of A550Ciation, the Cornp3nies Act 20D6 and "Accounting and Reportin8 by Charitie5.' Staternent of Recommended Prdctice applicable to charitie5 preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective I january 20191. The Charity is a Public 8enefit Entity a5defined by FRS 102. The financlal Statements are prepared in US dtslla, which is the functioThal currency of the Chadty. Monetsry omounts In these financial staternents ore rounded to the nearest S. The flnanelal statemtnts have been prepared under the historital tost tonvention and the princlpal atcourttin8 pollcles adopted are set out below. 1.2 Gdni coneern A5 a result of EFI compleiing its initial scope of work wirh l8 cities and working with 8 communitie5 on planning strategically for their future, the program ha5 succe55fully supported communities wirh skills development, knowledge and resource5 toward5 becoming 5ufficienrly 5UStainable that they can continue without the support of EFI. This wa5 Part of the original purpose of the initiative. Accordin8ly, in 2025, the Tru5tee5 hwe decided ro begin the process of cornpletin8 It5 obli8ation5 with the communitie5 wilh which it works and to pho5e out artivilie5 in its current forrnot. It 15 envisaged thai th15 will take number ofyears and Ihat EFI will then bewound down. A5 the intention 15 fgr the charily to ¢ease operaling the trustees no longer believe it to be appropriate lo adopt the goin8 concern basis of a£countin8 in prepariTh8 Ihe linancial statemenls. The financial statements he been prepared on a ba515 other than 80ing concern. Nolwilhsianding this, no chan8es to tht carrying value5 of the assets and liabilities and no additional liabilities arise from the decisbon locea tradin 1.3 Charllable fvnds Unrestricted funds are available for use at thediscretion olthe Trusiees in lurthtrance of their charitèble objectives. Restricted funds are subject to spe£ific conditions by donors as to how they may be used. The purposes and uses of the restrirted funds are set out in the notes to the financial statements. 1.4 Incomln8 resource5 Income is recoÉnised when Charity is leBally entitled to it after any performance conditlons have been met, the amounts can be measured reliably, and is probable that IroMe Will be rtteived. 1.5 Rtsource5 expended esources expended are ryognised in the period to which rhey relate. Direct charitable expenditure comprises all the expenditure relating to the activities carried out to achieve the charitable objeaive. Support C05ts represent costs that cannot be directly attributed to actniities. These cost5 have been allocated in full to the single charitable activity,'Contrart ArtIts.. Govemance costs include the costs of statutory audit and other costs related to the governan of EFI. These cost5 have been alloc3ted in full tothe single charitable artiMty. 12-
EDUCATING FOR IMPAcr NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Accountirbg policies lcontinuedl 1.6 Employee benefits The cost of any unused holiday entitlement is recognbsed in the period in which theemployee'5 services are receid. Termination benefits are recrni5ed irnmediatety as an expense when Charity is demonstrably committed to terminate the employment of an employee or to providetermination benefits. 1.7 Retirernent benefits Payments to defined contribution retirement benefii schemes are tharged as an expense as thevfall due. Crltlul a£wuntlng estlmates al1d£ements The Trustees are 5at15fied that there a material accountin8estirnate50rjudgements in the financial 5tatement5. Donètlonsand le8•d Unrestrlcted funds Rertcted funds Totsl Unre5trided funds 2024 2014 2024 20Z3 Donations and 8ifts 1.250.IKKI IW,232 1,350,232 833,332 Charltable artl¥ltle5 Contrn CllvltSes 2024 Contrnrt actlvltles 2023 Income within charitèble attivtties 955,007 13-
EDUCATING FOR IMPAcr NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Charltable actlvttles Contrart activities ¢ontrart ctivities 2024 2023 Staff cost5 21,646 685.906 783,139 5.524 169,564 659.042 627,868 IZ9.6721 Program costs Exchange rate losses I (Eainsl 1,496.215 1.426.802 Grant funding of artivitie5 (see note 61 160,944 Share of 5VPPOrt C05t$15ee note 71 Share ol governance costs (see note 71 486,117 29,942 373.131 13.837 2,012,274 1.984.714 AnBlysls by lund Unrestricted lunds Restrlcted funds 1,912,042 ILXI,2J2 1.984,714 2,012,274 1,984,714 Grants payable 2024 2023 Comunlta Ebraica d5 Roma 160.944 14-
EDUCATING FOR IMPAcr NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Support costs SupportCOSts Governance 2024 SupwTrrt 105ts Governance C05tS 2023 Staff cost5 427.%)A 8,517 5.676 427.508 8,517 5.676 243,983 8,583 15,914 Z89 243.983 8.583 15,914 289 Insurance Office 5upplie5 Staff trainlng costs Printin& postage and Stationary Professional fees Sundry expenses Telephone and Internet Exchèn8e rate losses Bank char8e5 1.148 5.031 30.672 2.054 2,250 3.261 1,14B 5.031 30,672 84,877 12,269 3,541 84.877 12,269 3.541 2,250 3.261 J,675 3.675 Audit fees AtUnnCY 26.502 26,502 21,346 2,491 21,346 2.491 486.117 29.942 516,059 373,131 23,837 396.968 Analysed between 486.117 29,942 516.059 373,131 23,837 396,968 Tru5tges For the yeor ended 31 August 2024. there re no tra1 and accornm¢xlarion expenses reimbursed to any of the Tru5tee5 12023.. $874 10 l Trusteel. 15-
EDUCATING FOR IMPAcr NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Employees Number of emplOe5 The average monthly number of employtes during the year %WdS= 2024 Number 2023 Number Employmtnt costs 2024 2023 Wa8e5 and 5alarie5 Sotl81 security Costs Other pension costs 383,J7J 57,788 7,991 401.719 10,803 1.025 449,154 413,547 severance payments pavable total $88,66712023.. SNIll to 112023.. 01 employee forthe year ended 31 August ZOZ4. The number of employees whose annual remuneraiion was £6O.rf0f more were.. 2024 Number 2023 Number £70,OL- £80,C#)J £I20.O- £130.0 £130.(QO- £140.CQO £I40,O- £150,000 The key mana8ement personnel of the charity comprise thetrustees and the Chief Operatin8 Officer and ChSef Financlal Offlcerwhose employee benefits In the yearwere $329.25012023.. $324.5011. io Credltor5= amounts lallln8 duewlthln oneyear 2014 1013 Trade creditors Accwa15 and deferred income 11.874 145,719 66,642 42.977 157,593 109,619 li Remrltted funds Leadership Pro¥ram- A leadership program which enab5 develown8 leader5 to consider their personal leadership strengths, and to determine how theYn be5tiontribute to 5trate8ic and transformative work in their respective cotnmunitie5. 16-
EDUCATING FOR IMPAcr NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Related partytranSaOns The Ronald S. Lauder FouTrdatton, The laaurice and Vivienne Wohl PhilanthfOPiC Foljndatn. The Joint Distributir>n Cr>mmittee and Rothschild Foundation Hanadiv Europe all have representatives that sit on the trustee board of the Charity. These organisations made donationsof $1.350.23212023.. $1,333.3071 in aggregate forthe year ended 31 Au8USt 2024. Cash gener*e41 from operatiorbs 2024 2023 Defic5t for the year 1662.0421 1196.3751 Movement5 in workin¥ capital.. Ilncrea5el/decrease in debtors Increase in crediiors 20.299 40,569 47.974 Cash absoibed by operatlons 1614.0681 1135,5071 14 Anatys15 of ehan8es In netlunds Charity had no debt during the year. 17-