REGISTERED CHA NUMBEIL. 1181003 Re ort of the Tntstees and Unau(rrted Financial Ststements forthe Year Ended 31 Decomber 2023 Instttute for Suslainable Philanthro Mander Duffill Chartered A¢untants The Old Post Offics 4143 Market PEace Chippenham Imltshi SN15 3HR
,Instit eforsustttinable Philanthro Contents of thè Financlal Staf8ments forthe Year End 31 DecembeT 2023 Page Report of the TTUStees 1 to 4 Indendent ExamiDorf6 Report Statament of Flnanclal Acuvities Balance Sheèi Cash Flow Statement Notes to the Cash Flow Statement Notes to the Financlal Ststements 10 to 15 Detalled Statement of Flnaneial Actfvities 16 10 17
Institutelor Sustainabla Philanth ort of the Trustees for the Year Ended 31 December 2023 The trustees present their report with th¢ finan¢iaJ statnerrts of the Ghèrty forthe year ended 31 December 2023. The trustees have adopted the provisi¢)ns of Acting and Reporting by Charitie5: Ststement of Re¢ommended Practi , appl to charities preparing their 8w)unts in accordance th the Financial Reporting Stsndard apPIable in the UK and Republ of Ireland IFRS 1021 leffNe l Jawary 2019). OKIECTIVES AND ACTIVITIES Objectives and aims The pure$ ofthe Institute for SLL%t8inabb Phijarthrcpy (FSP) aye: To VanCe education for the pub¢ benefrt in the nlUtt skn'ls of phoanthrcyy, en3bng charities and other nonprofit bodie8 to increase their fvnding to furlher their chai]lab purposes. We do this by. Ctmducting re5e8rch through the lens of philanthK¥xc t6ychology into phijanthrcyy arKI fundralsing,. and Providing education. traming and SUPFW)rt to enat4e all stakeho]d6rs to ublize the anerging seiwce that we and cÉhers genwate. The Instut8 exis& to grow personally meanty)gfvl philanthropy around the world and il will do 80 by focusing on developing the 8¢[en of how people bve others and Jove themse. tfthe experieft of phiLanthropy can be mada more meaningful, we now knowthat individuaL8 wll gve mc¥e and gNe ts longer. current our researdi programs locus on the of identity. lo 8nd wellbeing and wè gerate new theory which we then test In surveys and field expertments wtth chaTtbes and nonprofts arcxjnd theworfd. We Ihen publish our finOIngs in academic joum21s. books or In our own research rep sertes (Kthich 15 free to thvnload) so that others may use the idea?. We also disserninale this WO IloUgh s8ckY conferences ar¥J events. globalty. In 2023 we presenled {digitslly and ralfa[l at Conferen based in the UK USA Irejand. Australla. Germany, Hungary, and Switzertand. We also offer a range of digital leafflirvJ padfaoes and Cerbfute courses which showcase these ideas and leach pacipants how to use them. The InslttLrte wiu also mentor Cha[[boI)rofiL$ who wish to switth lo a ccmmunications apFwach. based on philanthT(pic psychtlojy. The creation of new scientfft research arKI the disseminat¥)n of our ffndings is the o)re of the public benefit we promde. Our trustees have been issued wth ccy1 of the gLUdan issued by the Chartty Ccmmission on public benefrt. Such gLlldan is aL p[rmdj lo nÉw trustees as part of fheir induction process. Tha Board take8 Ils responsibilities in thls regard very Serious and our acbiribes are conslstent wtth that guidance. The IFSP'S activibes are reviewed quarterty by the ful Board in accoJrlance with the Govemance Code of Prac*lce and we have a govem8n¢e sub-committee of the fvll board whose ro Itn part) ks to oversee the evolLrtion of our publk banefrt Ivities arsd intcrm our strategic thinking and Pll8. Page 1
Instltute for Sustslnable Philanth Re ort of the Trustees forthe Year Ended 31 December 2022 ACHIÈVEMENT AND PERFORMANCE Charftabl& actIVe$ Our actitieS group into thre8 broaj hesdings 1. Scl&ntIfic Research and Publi¢atlons In 2023 we submitted for pUbClOn the thd &Irt of our FundraIng. prinap1 8nd Practice textbook with Imley. The n8w edition is planned to be publi$h8d in June 2024. We also submitied our M6aningful PhJanthroFY. Undarstandtng the Bd)ind the Gmng" rnanus¢ript to the Policy Pr&qs {8n impTint of the Brfstol UnNersty Press}. PUbl10n is Curtty ey4)ecW in June 2024.. 2. Educatlonal Programming In 2023 we had the foll(AMng impact". - 312 Indlviduals enrolled in ujr enty level fun(traisirvJ dass- Fundrai8ing Standard. - 1162 indMdv818 participated in our onlmiewebinats - 117 indivKIu818 participated in our certite in Philanthropr Psythdcuy or Cartifi¢ate in Fundraising Copwibng (73 Phil Psych and 44 CopIng1. - 24 indivK1uals attded OUT Certthcate tn Leo¥ FundrsIng orthe B4u85t Fundraising Standard lour US var¥ant). 1400 people attended our speaking engagemènts for thlrd parties such as the AssctEtion of Fundraisiny Professionals 24 students enrolled on the Diploma in Fundrising Managemenl we run for the Intern8tional CrosslRed Crescent - 125 students tODk part in bespoke training for the Cetbfioale in Fundraising Coptn9.. 24 attended from Ad lo the Church in Nèed. 49 from Colorado Gives and 52 from RSPC& U - 588 Indldua¥S downl(kgded one of our reports from ourwebsi 3. Merforing and Consultancy Support As outllned above, the Institute works vAth partners to help them embed new approaches to donor communication based on our philanthropic psychol(w principles. In 2023. partners included Eden Valty Hospica. Lfftlng Up Westchèster. Oxfarn It, Pancreatic C8ncer UK, Union Ree missi and the Norwegian Blind Assosiation. Many of these partnérships allow us to cotled experintaI d8ts whth can then be reOr in the mechanisms we describe sbove. We will only work with organizalions who are willing to allow us to disseminate to a wider audience. As an example we thed wrth Ofjam Itaty lo examine the words that supporters use to desthe themselves. other supporters and the indmduals the organEalion serves in cXYnmuneS around the world. Our work was able lo highlight drfferences in the perceptions of each group, maknng rerunmendations for change. Our WOTk aLso albwed the partner reflact on th8 typè tsf lov8 SUPPOrters could experience and the Additional rn•aning that could bo dajrvarad cons8quence. In 2023 we were In the experirnentsl stage of our signature research project on love and artulatIon In fundrak%ing. We cDnducted exp8rlments to explore what knnds of love fundraising coukl and who that Itsv8 could be betW88ll. We also examined, how that love was experienced. htyw It could bè enhanced and how it could be used lo Iransfom the identili&s of key stakeholders. Our findings. togelher an accompanying lrteratura m8w, will ba published in mid 2(r24. Pa2
nstituteforsu inable Philanthro ort of the Trustees for the Year Ended 31 December 2023 We continue to coath charitres through webinars and ithuse training to malMize the value frun thelr leamlng and fiher penetrate IdEas from philanthrop psycholcgy into thairwork. FINANCIAL REVIEW Rèserve3 pollcy IFSP intends to hold three months of all exwdrture plus a fijrlher three months staff costs to atluw the oro8nlzation to adapt to any ¢hanges in the incom8 or expenditure of the cygantzation. The trustees astabfished £192.000 as th¢ target for 2023. based on the 2022 f nar£ial reporL This target for cash reseNe5 wa5 met and excwled. making f( PD6sible lo Vest in 8alary increases for members for senior me]rthTS of crtjr team, tr] accordance wth an analysis of sector benchmark? for senp)r academiG Staff. Stafflng leveLs across IFSP ranained constsnt in 2023 and the risk prof518 faciro IFSP and the reSu2nt policy were unchanged in the caiendar year. The biggest risk lo the Instf(ute remains the potential bss or incapacty of ofthe professori leadership team. srRUrnRE, GOVERNANCE AND MANAGEMENT Governing do¢uTneFrt Tho charty Is contro118d by it8 govemlng dc¢ument, a degj of trust and (xjnstitutes an unincorporated charity. The IFSP18 a Charitable Ineorpored Org8niz8tion ICIO) 8d(¥ting a CKJnststU as its governing dogument. The Board of trustees admini%ters the charity. The Board meets quartedy and there are sub-C(ynmittees covering govemance, misslon (public benefftl and firk7ncejaUd The Board also appoints a Director to manage the daY-ICY operations of the organization and Currentty this ro]e is splt tknen Prof Adrian Sargeant and Prof Jen Shang. To facilitate effe¢tNe operdtions, t Directorfsl have delegated auIhcty. wlthln the tern of delegatlon approved by the twstees, for matters including fin8nc8, eMploynI leachin9 and research. We cvrrenttv have 8 trustees and are peTmitted to appoint a MmuM of 11 E8eh tnjstee will nomially serve a of three years. We are currentty staggerfng Ihe t4neJine ofthese appointments to 8nstJre continuity and stabllty. All currènt nmbers of the Board are enccuraged to nOrnate trtEst*s and we w711 C10n2[ advertise these role8 as CiTcumstances requira Wè are committed to achi]ng great¥ dwersity in our goveming Board and are wothing toward that god. New trustees will undergo an ¢Jrientation to brief th their tegal oblMJations under ch81ity law, the Charity commi10n guidance on public benefit. conttt of our constltub"on, the Board. its sub-commrtiees 2nd its deusion-making proce8 and the busin&s plan and recert past performance of the chaty. cuendY any naw tDJStee3 woukl be induded rTh0te. REFERENCE AND ADMtNISTRATIVE DEfAILS Registered Charity number 1181003 Prfn¢lpal addr89$ The Philanthropy Centre Unit 12 Thè Business Cgntre Plymouth Devon PL4 OEQ Pw3
Inèbk P DrtoftheTn 31 08C Dr M NayknrTr J Hudson Truthe BeEm Tru J Love TrLe {resAned 20.11231 N Harris Truste8 G Longfidd TTLt8ree {res&noa 25.428) C S¢eroDu Trusteg G Mangllk (oppoitad 6.5231 MTS J Binks l¥ppoi¥ts0 &5.231 D Fots18ppoIMt&1 &523) Ind•pandt Examin•r dor DIll The Old P08toffi 4143 Mafiot Place ChWenh•m shtre SN153HR gi4124 on Ix Dr kl Nayknr-Trustee
nde endent Examinerfs Re rt to the Trustees o Instltutefor Sustainable Philanthro Independent examlneP8 report to the trustees of Instltute for Sustainable Phllanthropy I repct to the drity tru8tees on my examination of the accourts Institute for Sustsinable Philanthropy {the Trust) for the yearerxla 31 December 2023. Responsibilities and basis of report As the charty trustees of the Trust you a responsible for the parat)n c¢ the acuunts n accordance wth tha requirements of the Charities Act 2011 Dhe Acfl. I rewrt in resped OF rny examination of the TrusV8 accounts carried out under Secticy) 145 of the AGt and in carying out my ex8mination I hsve followed all applrcable DIreCtrtS gwen by the Chanty Conynission und8r SlI0n 1(5)(b) ofthe ACL Indopendent examlnefs slement Since your charity's gTOSS income excegjed £250.000 your eyAminer mLtyt be a member d a listed body. I can confimi that l am qualrfi6d to undertaka the examinatiC becaus& I am a membèr of th8 Instth of Chartered Accountants in England and Wales. whth is ono of th8 listod bcJi8S. I have completed my examination. I ccnfirm that no material mters h&e Come to my attention n ¢onneGtion with the examination giving me cause to bdieve that in any material respect.. accounting r8cords were not kept in t¢t of the Trust a£ requwgd by S8Lrtion 130 of the Act" or the 8eLOUllts do not accord Mth th¢w rècords,. or the accounts do not comply with the appltcable requirements eonceming the fomi and contonl of accounts set in the Charmes {Accounts and ReN)rts) Regulations 2008 other tran any requirement that the accounts g(ve 8 true and fair wew which is not a matter consder&J as part of an irvjependent examination. I have no concems and have come across no other matters in ccffirxtion with Ihe examir5ation to which attention should be drawn In this report In order to enable a proper Understandi of the *counts to be r68ehed. Andrew Dav$8 FCA Mander Duffill Chartered A¢count8n18 The Old P08t Office 4143 M8rket Plaee Chippenham shire SN15 3HR Date.. Page 5
Institute forsustainab thro Statsmerrt of FlnanGial Actwftles OTthe Year Ended 31 December 2023 31.1223 Totsl funds 31.12.22 Total fuThJs Unr8strthd fund Reslrictgj INCOME AND ENDOWMEKfs FROM Don*lions and legacies 82.132 82.132 102,746 Charitabl& actlvitlès Scientific research Education and training 32,052 32,052 340.fj62 61.199 Total EXPENDITURE ON Charitabla acttvtttes Scientific research EdUcatn and training 33,617 213,238 286.444 33.876 820,120 Other 111161 111161 Total 431281 346,219 NET INCOMEI{EXPENDITURE) $7241 (33.6761 23.5 87.546 RECONCILIATION OF FUNDS Total funds brought fonKard 429.540 33.676 463,216 375,670 TOTAL FUNDS CARRIED FORWARD 486.781 486.781 463,218 Pèae 6
Ball8 Sheet 81.12.23 31.1Z22 nd RXED ASSETS TarvJibk sssets 1T7 1.301 89,321 89.321 69,241 497A14 481.314 475.924 10 (10.710) (10,710) {1£1)fj9) NEf CURREKfASSErs TOTAL ASSETS LESS CLIRIIEHT UABLrnES 781 4&s.n1 463,216 NEfA8SErs 488.7 46&216 11 Unrestiirt& fund5 Rostr funds 48Q78fj 429,&40 3&676 TOTAL FUND8 48&781 Dr ifi Nafv.TnMlee
Institute forsustainabla Phl]anthro Cash Flow Statement for the Year Ended 31 December 2023 31.1223 31.12.22 Cash flows from op8fdting actlvtttes Cash generated from optrrations 1,310 43,837 Net Cash provided by operating a¢tivitles 1.310 43.e37 Changa in cash and cash equivalents in th6 r8portlng poriod Cash and ¢a3h equivalents at the beginning of the reportlng petfod 1,310 43,837 362,848 Cash and cash equivalents at the end of th8 reporting perfod 407.gJ3 P808 8
Inable Phllanthro Notes to the Cash Flow Stat&ment lor the Year Ended 31 December 2023 RECONCILIATION OF NET INCOME TO NEf CASH FLOW FROM OPERATJNG ACTMTIES 31.12.23 31.1222 Net income forthe reporting period (as perthe Statem8nt of Flnanclal Activities) Adjustments for. Depreciation charg Increaee in debtors Ioecreasellincrease in creditc 23,565 87.54S 1.124 120,080} 1,127 151,2891 6,453 Nat cash provlded by operations 1.310 ANALYSIS OF CHANGES IN NET FUNDS At1.1.23 Cash flow At 31.12.23 Net ca$h Cash at bank 406.683 407.993 Total 4ffi.683 407 993 The notes fomi part 0fth financial Stat1 Page g
Ittlefor Sustalnable Philanthro Notes e Financial Statemen for the Year Ended 31 December 2023 ACCOUNTING POUCIES Basis of preparing th8 finanelal statements Tha fmancTal stalemet)ts of the charity. whKh i&a publK benefft entity under FRS 102. have been prepared in ? aGoordan¢e wfth the Charf(ies SORP (FRS 1021 'ALLounting and ReKXYUng by Charrtieg". Statement of Rmmended Practi¢e applicab to chartbes prepariro Ihelr nts In accordanee with the Financial Reporttng Standard appficable in the UK and Republic of Ireland IFRS 1021 lèffedive 1 J8nuary 20191.. Financial Reporting Standard 102 Thè Financial R6porting Stsndsrd applicable in the UK and Republic of IreL¢nd' and the Chanlies Act 2011. The fin8nclal stalements have bèen prepar1 und¢r th8 hi8tOriC81 ¢08t convention. Income l incom8 is recognised in the Statement of Financaal Activitses On the Charity has entement to the funds, it Is probable that the income will ke receed ar%J the amount (n be rraSUrl rejiabty. Expendlturo Liqbiltiies are recogni8ed a5 expenditure as ¥)n as there is a Ial or constructwe obligation cJ)mrnli ting th6 charity to that expen¢lre. Is probable that a transfer of economie benefts will be rlUIr in settlent and the amount of the oblig2th can be measured [eliab. EWdIre is aCUnted for on an accruals basis 8nd has been classffied under headings that aggregate all Cosl related to the category. Where costs cannot be dire¢dy attribut8d to partK>J headings they have been 811oGated to acvitses on a basis culsislent the use of reSr0e8. Tanglble flxed assets Depreciaflon is providgj at the follcwing annual rates in order to wite off èaeth assal oveT its egtimatwj useful Irf& Computer equi)ment 25%onc Taxation The charity Is èxeThpt from tax on ts charitabte athtse& Fund accounting Unrestricted funds can be used in accOnJan with the tharitable 0.tiVeS at the discretion of the trustees. Reslrded funds can only be for paJb"cular restrtctad purposès wthin the 0.ects ot the charity. Restridions arise swtfied by tha don or when fvnds are raised for parb'cular restrided purpefjes. Further explanabon of the nature and purpose of each fund Is rncjudad in the rte8 to the finan81 ststements. Pension costs and other post-retirement beneffts The charty operaes a defined eA)ntribution pens*>n sehem6. Contnl)utions p8y8bl8 to th8 charity8 penBIDn $chemè are charged to the Statemwrt of Finan31 AdNitles In the peth to whlch they rdate PaJe 10 eontlnued...
Instltutefor Sustal able Notes to the Flnanclal Statements- contlnued for the Year Ended 31 Decembèr 2023 DONATIONS AND LEGACIES 31.12.23 31.12.22 DCallonS 102 748 INCOME FROM CHARITABLE ACTivrriES 31.12.23 31.12.22 Saentrfic research Education and trasning scientif earth Education and trnIng 32,052 340,662 61,199 269.820 372.714 331,019 cHATABLE ACTIVTfiES COSTS Support Costs (see note 4 Direct Totsls Etlucalion and training 318,996 1.124 320,120 SUPPORT COSTS Govemance costs Finatx Other TotJs other resour expended Education and iraining 622 108,379 1.124 2,160 111,161 1.124 109.503 112285 TRUSTEES. REMUNEFiATION AND BENEFITS There were no trustees, remuneratrjn or other beneffts for th8 year ended 31 Decemter2023 nor for th6 year ended 31 December 2022. Trustees. expenses Thare were no trust8, eyperw ld the year ended 31 mer2023 nor for thè year anded 31 December 2022. Page 11 coTrllnued...
Instltute for Sustainable Phllanthro oles to the Flnanclal Statements- continued for the Year Ended 31 December 2023 STAFF COSTS 31.1223 31.12.22 Wages and $alartos Soclal security costs other pens¥Jn costs 271.693 25.462 4.136 222,117 18.954 244,645 The averdge Ttxinthly nuMb0f empknyees durpig the year was as fotltrws.. 31.12.23 31.12.22 Number of empksy86s During the year kn em0yeeS recaval total ernployee benefits {exduding dnpl(yer costs) of between £70,OOQ and £80,00012022". employees £60,000 to £70,(11. TANGIBLE FIXED ASSErs Computer ¢quipment COST Al 1 Jsnuary 2023 and 31 December 2023 DEPRECIATION At 1 January 2023 Charge foryear 3,20S At 31 Decber2o28 4,330 BOOKVALUE At 31 December 2023 177 At 31 Décwnber 2022 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.12.23 31.12.22 TRde debtors Other debtor5 89.321 67.861 1,380 89.321 69,241 Page 12 conttnued...
Instltutefor Sustslnable Phllanthro Notès to tho Flnancial Ststements- contlnued forthe Year Ended 31 Dècember 2023 10. CREDrroR8: AMOUNTS FALLING DUE IwfHIN ONE YEAR 31.12.23 31.1222 Trade cr4litors Other Cd([0 3.305 7,405 1.189 12,820 14.(K>9 11. MOVEMENT IN FUNDS Net movement In fvnds At 21.12.23 At 1.123 Unrestrlcted funds General fvnd 429.540 57,241 486,781 Restrlct¢d funds R&stricted Fund 33.676 {33.6761 TOTAL FUNDS 463.216 movement in funds, induded in the above are as foll(Avs: Inwmlng resoureeg Resource8 eXpded MOvemt in funds Unrèstricted funds General nd 4$4,846 {397,6051 57241 Restricted funds Reslrict8d Fund (33,8761 (33,6761 TOTAL FUNDS 431281 Comparatives for rnovement In funds Net movement in fun¢Js Al 31.12.22 At 1.1.22 Unrestrfct8d funds Gèneral fund 308,317 121223 429.540 Restricted funds Reth"ct Fund 67.353 {33.67n 33.676 TOTAL FUNDS 375,870 87.54S 463 216 Page 13 continu8d...
Instmute forsustainable Philanthro Nots to the Flna ial StatemerFts- contlnued fortheyear Ended 1 December 2023 44. MOVEMENT IN FUNDS- continued Compar8liv8 nel ffv)vement in fd8. in the above are as follcAVS'. Incsjming resour$ Res(vrces exwded hkn&mant in fvnds Unrestrlcted funds General fund (312.5421 121.223 RéstTi¢led funds ReslriGted Fwid (33,67n (33,67n TOTAL FUNDS 433.765 346 A current year 12 months prioryear 12 Months MbInl posits.on is as follrAvs.' Net movement in funds At 31.12.23 At1.1.22 Unrestrfcted funds General fijnd 308.317 178,464 486,781 Resiricted funds R&%tii¢ted Fund 67,353 {67.353) TOTAL FUNDS 375.670 111111 486.78q A current year 12 months arHI pricy831 12 months comtrtn net movement funds. in¢luded in Ihé above are ss follow8.. Inc(*ning Resources resouw eypendal ovement tn funds Unrestricted fvnds General fund 888,611 (710.147) 178.484 Restricted funds Reslrided Fund {67.3531 (67,3531 TOTAL FUNDS 888.611 111 111 Page 14 continuad...
Instittrte for Sustalnablè Philanthro to the Flnanclal Statèments- continued for the Ended 31 December 2023 12. RELATED PARTY DISCLOSURES , There were no r8Lsted paty transact)rng forthe y ended 31 Dacember 2023. Page 15
Institutefor Sustain le Philanthro etailed Statement of Financl81 Acttvltles forthe nded 34 December 2023 31.12.23 31.12.22 INCOME ANID ENDOMNENTS Donatlon and legacl6s Don8tions 81132 102.746 Chafitable actfvttl¢s Ertucatn 8nd trainlThJ Scientific research 340.662 269,820 61.199 372 714 331,019 Total Incominu resourr8S 433,785 EXPENDITURE Charltsble aGtivities weS S¢xial security Pension$ Advertisir)g Travelling Computer expenses Consulting fees Service fee Training projects 194.3 16,147 4,136 150,019 10.665 3,390 10,120 12,8 7.811 27.079 18,665 44,488 2,123 28,662 25,690 318.996 246.855 Support costs Finance Bank charges 344 Othor Wages Social sgcufTiy Pensions Insuwnce Light and heat Postage and ststionery Sundrie Rent Computer equipment 7T.252 9,406 72,099 8,289 185 5(10 241 1,214 6,787 5.743 592 418 1,236 13,183 6,292 109.503 96,185 GovernanGe costs ' Aceountsncy fees Carri8d foMard 2,180 2,180 2.655 2,655 This do•s f¢nn part Oltr stat&xory fThnctd 4t•manto Page 16
Inst a for Sustainable Philanth Detalled Statement of Flnanclal ActTvltles or the Year Ended 31 December 2023 31.12 23 31.12.22 Govemance eosts Brouaht fonKsrd Professional fees 2,160 2,655 180 2,160 Told resources expended 431281 348.219 Net Incom6 23.565 Page 17