2022-12-31-accounts - Environmental Funders Network

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Annual Report and Accounts

Year Ended 31 December 2022

Registered Charity Numbers: 1181318 and SC050579

Environmental Funders Network

Contents of the Financial Statements for the Year Ended 31 December 2022

	Page
Report of the Trustees	1 to 15
Independent Auditor’s Report	16 to 19
Statement of Financial Activities	20
Balance Sheet	21
Statement of Cash Flows	22
Notes to the Financial Statements	23 to 30

Environmental Funders Network

Report of the Trustees for the Year Ended 31 December 2022

The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Our mission and vision

Environmental Funders Network (‘EFN’) aims to increase the levels of philanthropic support for environmental causes and to improve its overall effectiveness.

Our vision is of a world where people and planet thrive.

Our activities and goals

We are a network of, and for, funders and advisors with an interest in the environment, supporting the whole philanthropic ecosystem, from individual donors and private foundations to intermediaries, pooled funds, and philanthropy and wealth advisors.
We also support those working on and fundraising for environmental issues.
We create connections between people funding or working on environmental issues, and bolster their agency, ambition, and effectiveness.
We are UK-based, with a UK and international outlook.

We have three goals, or pillars of work, aligned with our mission:

1. Improving the effectiveness of environmental philanthropy

2. Expanding environmental philanthropy (encouraging new donors to support environmental causes, and established donors to increase their giving)

3. Supporting those that do environmental work to be more effective

Our work

We use several approaches within each pillar of our work:

Research to understand patterns of grant making, gaps, and the priorities and needs of the sector
Convening to create, build and strengthen relationships between funders, between environmental groups, and between funders and environmental groups
Publications and other products to inform, inspire and motivate funders and the wider sector
Informational talks, workshops, field trips and retreats to input from a range of experts and practitioners

We aim to provide leadership in our programming and push boundaries, where we feel necessary.

Environmental Funders Network

The objects of the charity

The object of the Environmental Funders Network is the promotion of the effective use of resources for charitable purposes by charitable and non-charitable bodies in the Environmental Sector, being the part of the voluntary sector concerned with the conservation, protection and improvement of the physical and natural environment, for the benefit of the public by:

a. liaising with, researching and acting as a forum for the exchange of information between organisations working in the Environmental Sector, in order to identify how the sector might better achieve charitable purposes in conservation, protection and improvement of the physical and natural environment, including but not limited to identifying funding gaps and gaps in service provision in the sector;
b. providing advice and information to existing and potential funders of charities and non-charitable bodies working in the Environmental Sector to encourage them to increase their funding and to provide funding in a way which increases the effective application of funding for charitable purposes by the Environmental Sector;
c. providing charities working in the Environmental Sector with strategic and fundraising advice; and
d. such other means as the charity trustees shall from time to time think fit.

Public benefit

EFN's trustees have given due regard to the guidance issued by the Charity Commission on public benefit. They consider that EFN’s activities and achievements, outlined in this report, demonstrate considerable benefit to the environmental philanthropic sector, both in making it more effective and expanding it (encouraging new donors to support environmental causes, and established donors to increase their giving). In addition, EFN's work has supported those working on and fundraising for environmental issues to be more effective. By helping to ensure that environmental work is better resourced and supported, EFN provides clear public benefit to all.

ACHIEVEMENT AND PERFORMANCE

Main achievements of the charity during the year

Throughout 2022 the major contextual changes for our work included:

Interest in environmental philanthropy continuing to rise, with more new donors entering the space and some established funders scaling up their environmental giving.
Complementary new organisations and initiatives emerging, focused on increasing funds for environmental causes, with which we developed partnerships.
Climate and nature continuing to be of public concern in the UK, with extreme summer temperatures making the crisis real for many.
Climate activism continuing to make headlines.
But non-environmental concerns – the cost-of-living crisis, war in Ukraine, political turmoil in the UK and the ongoing Covid-19 pandemic – combining to create a challenging context for environmental work.

Environmental Funders Network

EFN in 2022: a quantitative round-up:

We put on 43 events (largely online, though some in person) attended by 481 funders, including staff and trustees from over 200 trusts and foundations and over 70 individual donors
Our funder newsletter supported over 850 funders with resources and invitations to meetings and events to inform their giving
240 fundraisers connected on our new ‘Green Fundraisers Forum’ on Slack
Our ‘Green Fundraisers Forum’ newsletters supported 630 representatives of environmental groups – up by over 200 this year
Over 100 funders and environmental group leaders attended our What the Green Groups Said Symposium to discuss effectiveness
Over 150 fundraisers attended our meetings convening fundraisers from across the sector

• We directly raised almost £2.8 million for environmental initiatives through our partnerships with the Big Give and The Funding Network

Quotes from our members in 2022 included:

‘EFN membership provides members of [our foundation’s] executive team and trustees with valuable insights and updates, as well as incomparable networking opportunities. A small team like ours simply couldn’t achieve what we do in the environmental space without you!’

‘EFN continues to be enormously beneficial to us with education, collaboration, resourcing and community.’

‘We’re happy to keep contributing to this powerful network.’

‘You are always such a font of knowledge and provide an ideal opportunity for quality networking.’

‘A brief note to say well done on the fundraiser collaboration event last week. It’s really encouraging to see such clear and targeted aims and progress. Looking forward to seeing and helping this come to life!’

There is plenty of further evidence of our work achieving its goals within each of our three work streams:

Improving the effectiveness of environmental philanthropy

During 2022, we were able to offer over 40 events to support funders and the sector to be more effective and connected, focused on a diverse array of topics, from nature conservation policy in the UK to a workshop on models of how social change happens.

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We were able once again to offer our annual two-day retreat for funders in person, which was well-received.

‘This was my first in-person retreat and I had such a wonderful time and really feel like I have connected on a deeper and more meaningful level with others working in this space – thank you!’

‘I have always found the EFN Retreat to be the best event of the year. This year’s was no exception!’

Our other initiatives to support funders included the development of our new Philanthropy Lab , with eight foundations and individual donors signing up to be its initial catalyst participants, starting in early 2023. The Lab will foster a new way of working that supports more collaborative and systemic approaches to philanthropy. This first iteration will focus on ‘creating economies in service to life.’

We continued to convene our Climate Funders Group , co-coordinated with Tessa Durham of Gower Street and Greg Hilditch of Global Greengrants Fund UK, helping funders embrace effective climate philanthropy in the UK and internationally.

We were also pleased to partner with the Esmée Fairbairn Foundation to deliver the learning programme for the Environmental Finance & Learning Fund , which has 15 participating funders, providing £679,000 for the Esmée Fairbairn Foundation to invest, matched three times over by the Esmée Fairbairn Foundation. That has provided £2.7m total to deploy in environmental investments over three years. Participants are learning about the process of making environmental investments, helping them to make informed decisions about how to invest directly and building the environmental investment market.

In May we published the third edition in our What the Green Groups Said research series, which surveyed chief executives of 116 environmental organisations. The aims of this research are to provide a portrait of the sector’s strategies, priorities and needs, so that we can feed these back to funders to inform their giving and other ways they support civil society, but also to inform our own work to support the sector. Our symposium in September brought together NGOs and funders to discuss the key findings.

Our other research series – Where the Green Grants Went – continues to be used regularly by funders and NGOs to inform and refine their strategies, and we presented an in-depth analysis of Scotland-specific grants data to Scottish funders/NGOs in September

Finally, over the year, our monthly newsletter provided 850 funders and advisors with resources to support their giving and their grantees, and invitations to EFN and other events to support effective giving to environmental causes.

‘Thanks again for the best newsletter in the sector, always a great read’

Expanding environmental philanthropy

In 2022, this programme continued to focus on inspiring new environmental donors to act and to feel a sense of agency, but now that there is much more awareness about the climate and nature crisis, our work has tipped more towards supporting donors to act. We do this by working in partnership with others, advising new donors, and helping funders to recognise the intersections between their aims and the environment.

Environmental Funders Network

We are delighted to work with an array of partners, the Association of Charitable Foundations, The Beacon Collaborative, New Philanthropy Capital, and UK Community Foundations among others, supporting their networks of funders to start giving or give more to environmental causes.

Through joint events with The Funding Network, we helped:

raise over £100k for five small environmental charities in 2022
raise more than £300k for small charities over five years, which they used to bring in a further £1.2 million to support their work

In partnerships with the Big Give, we have:

raised nearly £2.8 million for 146 environmental charities in 2022 (an increase from £1.8 million in 2021)

We also offer bespoke advice and have frequent calls and meetings with prospective donors to environmental causes, to make recommendations and connections.

We often connect new environmental donors to other organisations that offer in depth training, resources, and advice, such as Active Philanthropy, Impatience Earth, and Climate Leadership Initiative.
We produce resources to support new donors, such as our Acting on the Climate Crisis resource pack for funders, updated in 2022.

We help funders to explore the intersections between their aims and the environment and support them to start giving to environmental causes. In 2022, we published a ‘Healthy Planet, Healthy People’ philanthropy briefing with NPC as part of our series exploring the links between the environment and human health. We also started to explore how funders can support the arts, culture and entertainment sectors to inspire action on the climate and nature crisis and reimagine the world we want to live in – this programme will be developed in 2023.

Our work in Scotland reflects our broader work, aiming to network and galvanise funders in Scotland to support environmental causes. In 2022, we hosted three events for Scottish funders, gave talks and presentations on environmental giving at a wide range of meetings and provided extensive advice to funders and environmental groups bilaterally.

Ten Scottish-based foundations have now signed on to the Funder Commitment on Climate Change – remarkable given how few Scottish-based foundations were funding environmental work when we launched our Scotland programme.

With our encouragement, Scottish eNGOs applied to the Big Give’s Green Match in large numbers and over 10% of the featured organisations were based in Scotland; 15 Scottish eNGOs raised over £200,000 for their work.

‘When EFN started, environmental giving was a pond, now it’s a lake – let’s make it an ocean!’ - EFN member

Improving the effectiveness of the sector

This strand of our work focuses on supporting the environment sector to become more effective, in particular in terms of its fundraising, communications and connectivity, and was given a great boost in May 2022 with our hiring of a programme lead, Natasha Ratter. Since then, Natasha has worked hard to meet with as many people and organisations as possible across the sector.

Environmental Funders Network

Our Green Fundraisers Forum and fundraisers’ mailing list now have over 600 subscribers. The forum enables people working within a wide range of environmental groups to get to know each other, fostering a culture of collaboration and providing opportunities for learning, discussion, and relationship building.

In addition to sharing new funding opportunities and helpful resources with the group, we also run convenings for fundraisers throughout the year to discuss emerging themes and to hear from experts and people working on the ground. In May we ran two sector collaboration workshops, attended by over 40 representatives from environmental groups (mainly senior fundraisers) who are working across various thematic issues. The goal of these workshops was to establish a set of sector-wide strategic projects to bring more resources into the sector, and which EFN could support and facilitate.

We are now working to develop three ideas that emerged from the convening:

Engaging wealth advisors around environmental philanthropy
Developing a ‘map’ of the sector that would be useful to both funders and environmental groups
A sector wide media appeal to create a sea change in environmental funding

These activities will be the flagship projects within each of our three focus areas in our Strengthening the Sector work.

In September, we ran a symposium to discuss the findings of our ‘What the Green Groups Said’ report. We had a mixed audience of over 100 environmental funders and environmental group leaders, bringing together a broad range of perspectives to debate the key challenges and opportunities facing the sector.

This year we have also launched the Climate Activist Speaker Fund to help funders keen to support the critical work of young climate and nature activists (who themselves lack access to funding) but who need to distribute funds to registered organisations rather than unincorporated groups or individuals.

The fund will test a new way of supporting young activists by compensating them for delivering their messages far and wide, aiming to magnify the impact activists and funders can have.

The fund was conceptualised by and for activists as a simple way for them to access unrestricted philanthropic funding while also receiving long-term benefits such as training, peer networks, well-being support and greater audience reach.

Meanwhile, during 2022 our Rapid Response Fund provided 12 applicants with £187,046, rapidly disbursed by funders to help them seize opportunities or respond to crises. Amongst other initiatives, the funders were able to support:

The Messaging this Moment project led by The Culture Initiative, which provided messaging advice across sectors on how to communicate about climate change and the cost-of-living crisis without pitting them against each other.
A campaign by International Lawyers Project which stopped the Kenyan Parliament from passing an amendment that would have removed legislative protections for Kenya’s forests.
A citizen science initiative to test levels of radioactivity in sediment dumped into the Severn Estuary during construction of new nuclear reactors at Hinkley Point.

Finally, this strand of our work also included the Reset Narratives Community , housed at EFN and led by Ella Saltmarshe and Paddy Loughman with our support. That initiative, which has regular meetings and a monthly newsletter, supports organisations focused on climate, social justice and new economy work to communicate more effectively, based on evidence, in ways that reinforce the goals of all three movements.

Environmental Funders Network

‘EFN is doing some great work which is much appreciated – I feel well networked and supported! I can’t wait to see what’s planned for next year.’

‘Well done on the fundraiser collaboration event last week. It’s really encouraging to see such clear and targeted aims and progress. Looking forward to seeing and helping this come to life!’

Monitoring our impact

As the above text indicates, we track our impact with a mixture of quantitative and qualitative data. Quantitative data (tracked through our Where the Green Grants Went series, as well as our monitoring of our activities) helps us see how much we are contributing to the increase in grant funding to environmental issues, how many funders we are supporting to give more effectively, and how many people and organisations working on environmental issues we are supporting with convening and resources. Alongside those numbers, we get clear insights into the difference we are making through written and oral feedback from our members about the value we add to the ecosystem of environmental actors in the UK.

Our vision, of a world where people and planet thrive, will only be brought about by myriad organisations and individuals working in concert with one another. Ultimately monitoring our impact is about looking to see how we are contributing to that goal.

Organisational development

We welcomed a new staff member in 2022 – Natasha Ratter joined us as Sector Programme Lead in May. Also, we were really pleased that Aliyah Green has become a permanent part of our team, continuing to work with EFN as Communications Coordinator, after her 2027 Programme Associate placement ended in October 2022. Our full time equivalent (FTE) staff numbers have increased from 3.9 in 2021 to 5.6 in 2022. As an office-less team, we invested in time spent together during 2022, including at a two-day nature-based team building retreat. We enjoy working together and do so very collaboratively, with everyone taking a lead on a particular aspect of our work but supporting each other across all its areas.

After welcoming three new trustees in 2021, it was time to say goodbye to Stephen Pittam (in late 2021), and Harriet Williams and our Chair, Hugh Raven, during 2022. We are so grateful that they have been part of EFN, sharing their expertise and wisdom over many years, and were very pleased to be able to mark that at an event in November to celebrate our 20[th] anniversary, and all that has been achieved during that time. We are also so thankful to Catherine Bryan who became the new Chair of EFN in October, and who led a session with staff and trustees to inform work on our strategy for 2023-26.

We also established a new Scotland Advisory Group in 2022 to network and galvanise more funders (and their professional advisers) to support environmental work in Scotland and beyond, work that is led by EFN’s Scotland Coordinator Julie Christie.

In 2022 we developed various new policies to guide our work, including on Partnerships, Membership Eligibility & Code of Respect for Members, Safeguarding, Volunteering and Expenses.

Environmental Funders Network

EFN is committed to the principles of justice, equity, diversity, and inclusion , recognising their inherent value and necessity, including for effective environmental work. Acknowledging that there are many facets to diversity, we focused in 2022 on anti-racism, looking at how our organisation operates internally and in our outward-facing work. Supported by ‘You Change It’ anti-racism allyship training, our board and staff team agreed follow-up actions to take this work forwards.

Our principal actions in 2022 were to:

Develop a plan to ensure that EFN supports and gives a platform to groups that are led by, and work with, a diversity of people (for example through our events, blog and Rapid Response Fund), with a particular focus on people from racialised communities.
Develop practices and policies to foster an inclusive culture at EFN, including a policy on microaggressions and practices learnt from the EFN Retreat’s Building for Belonging workshop led by Collaborative Future.
Significantly change our hiring practices, adopting measures to reduce bias.
Submit internal racial diversity data to the first iteration of the RACE Report and encourage organisations in our networks to participate.
Review the guidance and recommendations in the Route map towards greater ethnic diversity in the environment sector to identify additional priority actions for own work and to support the wider sector.

This work will be ongoing, and we look forward to reporting back to the network in future years on our progress in embodying the values of justice, equity, diversity, and inclusion.

FUTURE PLANS

We will continue our core work and approaches, especially getting back to a full programme of in-person events, but we also plan the following new projects and areas of focus for 2023:

Improving the Effectiveness of Environmental Philanthropy

Equip funders with a better understanding of models of how social change happens, to inform their philanthropic decisions.
Increase the number of opportunities for funders to hear a broad diversity of perspectives, in particular from racialised communities and from those most affected by environmental issues, in the UK and internationally.
● Increase the focus on intersections between social and environmental issues in our programming, with a particular focus on racial justice.
Increase the focus on interconnections between nature and climate in our programming, with a particular focus on forest conservation.
Facilitate sharing of knowledge and expertise between EFN members and with other UK/Scotland-based funder networks.
Launch a pilot directory of funders participating in EFN with public- and funder- facing information, with at least 40 funders participating. The goal is to support members to better understand who is doing what, improving coordination and collaboration, and to make sources of philanthropic funding for environmental work more visible and accessible to the sector.
Launch the first Philanthropy Lab as a space for funders to raise their ambition together, address issues systemically and practise more effective forms of giving to the environment.

Environmental Funders Network

Expanding Environmental Philanthropy

Develop a programme to engage with family offices in the UK to support them to give more to environmental causes, following recommendation from EFN-commissioned research.
Explore the option for a media campaign, to highlight the value of environmental philanthropy and the need for much more of it.
Develop a series of online and in person events to engage arts funders with environmental causes, building on interest in how the arts, culture and entertainment can inspire individuals to take action on the climate and nature crisis.
Provide more guidance, via events and resources, to new environmental funders and philanthropy advisors, based on feedback from funders/advisors and analysis of the resources currently available.
Build back an in-person event programme, including events to connect with specific audiences (for example, an event for hedge fund managers, events looking at the intersections with other causes) and project visits. Specifically target the wealthiest families in the UK by organising an environmental philanthropy summit.
Launch a pilot Environmental Impact Investment Group to help network and support funders looking to make green impact investments, growing the funding for early stage and other green ventures in need of investment.
Develop a programme for engaging with trustees and individual philanthropists, for example, meetings to help trustees/founders influence their boards/family members such as a Boardroom 2030 initiative specifically for foundation boards.
Deliver the second year of the learning programme associated with the Environmental Finance and Learning Fund, in partnership with the Esmée Fairbairn Foundation.

Improving the Effectiveness of the Sector

Develop the three strategic projects proposed to us by the sector in our 2022 convenings:
⮚ Engage and support wealth and philanthropy advisors around green philanthropy.
⮚ Support (with partners) a large-scale media appeal to increase public awareness and funding for the environment sector.
⮚ Support initiatives to map the sector to better understand and visualise the complex ecosystem for the benefit of both funders and environmental groups.
Facilitate spaces and communication channels for the sector to become better connected and more collaborative – for example, training series, talks, meetings, symposiums, a Slack channel, monthly newsletters etc.
Deliver the pilot Climate Activist Speaker Fund to support a cohort of up to 15 youth climate activists from communities and areas most affected by climate change, testing a new mechanism of philanthropic support for activists to deliver effective messaging. The pooled fund will support young activists to undergo training and upskilling to communicate their message across diverse audiences, provide compensation for their speaking engagements and associated costs, and support activist safety and well-being.
Encourage NGOs in our networks to submit their organisational racial diversity data to the RACE Report.
Support the development of a climate confident third sector in Scotland (working with SCVO, other infrastructure bodies and funders) and across the UK (working with NPC on the Everyone’s Environment programme).
Support the development of the Sustainable Wellness Environment Network to ensure a healthy, resilient, effective environment sector.

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Governance and Organisational Development

Our work in Scotland continues to grow, and as our former Chair, based in Scotland, stepped down in late 2022, in 2023 we aim to recruit a new board member with experience of funding and/or funding networks in Scotland.

FINANCIAL REVIEW

Income

EFN's income is mainly a mixture of grants, and voluntary membership contributions (following a sliding scale based on how much each member gives out in environmental grants themselves over an annual period). We also receive income for fees towards the cost of our annual members’ retreat/conference, for some of our workshops and for coordinating the Environmental Finance & Learning Fund.

The income received from membership contributions in 2022 rose considerably to £280,462 (2021: £210,923). The number of contributing members is more or less the same year on year, and this increase is due to the welcome increase in amounts contributed especially by some larger members of the network. Together with grants and donations towards our core work, and fee income, the total unrestricted fund income in 2022 rose to £518,639 (2021: £420,625), a 23% increase.

Restricted fund income fell year on year from £98,765 in 2021 to £23,000 in 2022 due to the timings of projects and project grants received. In particular, grants of £69,690 received in 2021 for the Reset Narratives project funded work into 2022.

The total income for 2022 was £541,639 (2021: £519,390).

Expenditure

Direct expenditure on our core work areas increased from £374,548 in 2021 to £384,542 in 2022 with in-person events making a welcome return to our programme. We also increased our staff team - Natasha joined EFN as Sector Programme Lead in May. EFN is fortunate to be a team working around the UK from home offices, and office costs are minimal.

Detail on our spending is given in note 4 to the accounts. Total expenditure was £473,596 (2021: £442,714).

Reserves

The net movement in funds for 2022 was £68,043, and the total reserves were £476,149 on 31 December 2022 (2021: £408,106).

£248,770 (2021: £195,900) of the reserves were designated for specific work, and a further £9,874 (2021: £51,068) were restricted funds, leaving a balance of £217,505 (2021: £161,138) in general funds.

Detail of the designated and restricted funds is shown in note 12 to the accounts which includes a description of each fund, and the purpose for which it is held. It is planned to use £151,798 of the total designated funds set

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aside on activity in 2023, and the balance of £96,972, will be spent mainly in 2024, but also partly in 2025 and 2026 as EFN scales up its fundraising to invest in its programmes and to deliver its ambitious strategy.

Risk management and reserves policy

We maintain a risk register with risks, ratings, mitigations and monitoring listed. Key risks are monitored regularly by the Director, and by the Finance & General Purposes (F&GP) subcommittee of the Board. The full risk register is reviewed annually by both the F&GP Committee and the full Board of trustees.

The current significant risks facing the EFN are:

Risk	Mitigation
Loss of a key member of staff – the potential loss of expertise and networks to EFN would be hard to replace	EFN has a small and very welcoming team with a strong emphasis on an organisational culture that is inclusive and supportive. Staff have a good level of support from trustees. There is a Pay Review Policy which sets out how pay rises are calculated and ensures EFN continues to offer market rates of pay. Systems for tracking contacts are improving (Salesforce) and there are plans for further improvements (for example, a database of member organisations/individuals on our website, which will help capture information that is known by key staff but not currentlyrecorded anywhere).
Managing sustainable growth so that our team are not over stretched by the increasing demands of the programme and ourgrowingmembership	The trustees and management consider this on an ongoing basis in terms of planning the strategy for the future. Line managers are supportive, and aware of the potential effects of these demands on the wellbeingof the staff team.
Increasing environmental challenges (including from climate change) leads to more pressure on the sector	As demand for our services rises, we are hopeful that membership income will, too, enabling us to meet it. Our strength as a network organisation may be for members to help each other manage the effects of climate change on their organisations.

A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees.

EFN holds reserves to enable it to:

meet its contractual obligations (including the completion of projects and committed administrative costs).
designate funds for future expenditure on work to achieve its goals.
retain a sufficient margin of funds to meet the cost of unforeseen events.

The general fund balance on 31 December 2022 was £217,505, and the free reserves (those unrestricted reserves not designated for specific purpose or invested in fixed assets) stood at £217,148.

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The target free reserves for the year ahead are £193,042 and represent the equivalent of six months of core operational expenditure (staff costs, staff expenses and overheads) plus redundancy liabilities, and the costs of winding up the organisation. The target will rise to £239,730 in 2024 as a funded staff member will be met from the core budget from that point.

Free reserves are reviewed by the trustees at all Board meetings, and the trustees are happy that the current levels are in line with the targets. The reserves policy is reviewed annually as part of the organisational strategic planning and budgeting process for the years ahead.

Fundraising

Our fundraising activity concentrates on developing our relationship with our members, and funding applications to trusts, foundations and other funders. We understand our duty to protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches, and undue pressure to donate. Our specific and targeted forms of fundraising mean that we avoid these approaches, and we do not use any thirdparty fundraisers to act on our behalf. We have received no complaints about fundraising activity in the years ended 31 December 2022 and 31 December 2021.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Environmental Funders Network is constituted as a Charitable Incorporated Organisation (CIO) and is registered as a charity in England & Wales (number 1181318) and in Scotland (number SC050579).

Recruitment and appointment of new trustees

The trustees elect new trustees, as vacancies arise, considering the skills, knowledge and experience needed for the effective administration of EFN, and clearly setting out the terms of engagement and the essential tasks of the Board. Our recruitment places an emphasis on the diversity of applicants (looking for diversity in terms of ethnic, racial, and socio-economic backgrounds, sexual orientations and gender identities, disabilities, adults of all ages, and people with a broad variety of views and perspectives), recognising that EFN’s work will be strengthened by a board of trustees who bring a variety of experiences, backgrounds, and perspectives to bear on our work.

EFN's trustees must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. The charity trustees may from time to time co-opt people to serve as additional charity trustees, provided that a person who has been co-opted must retire after having served for a term of one year but shall then be eligible for reappointment for a further term of one year and then for a further term of three years.

Any person retiring as a charity trustee is eligible for reappointment, save that a charity trustee who has served for six consecutive years may only be reappointed for one year at a time.

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Trustee induction and training

All potential new trustees are given the opportunity to meet the Chair of trustees, and the Director prior to their appointment. On formal appointment they receive a copy of the constitution, the latest annual report and accounts, the Board terms of reference, all relevant policies, and Charity Commission guidance.

All trustees are invited to attend an annual Away Day for staff and trustees, and an annual retreat for funders. They are also expected to attend some events each year to get a sense of the offerings of the network. Trustees are also offered training – many have recently taken part in an anti-racism allyship course together with EFN staff.

Sub Committees

There are two subcommittees, both of which consist of at least three members of the Board, and have terms of reference which have been approved by the Board:

Finance & General Purpose (F&GP) committee which is responsible for overseeing our finances as well as our staffing and internal policies and procedures.
Programme committee which considers the development, implementation, and evaluation of EFN’s event programming for its members

Key management personnel

The key management personnel of the charity comprise the trustees and the Director. The Director is appointed by the trustees and manages the charity. They act with delegated authority for all operational matters. All trustees give of their time freely, and no trustee received remuneration in the year. Details of trustees’ expenses and related party transactions are disclosed in notes 6 and 14 to the accounts. As with other roles in the organisation, the Director’s salary range is benchmarked against other posts in comparable sector organisations by an external organisation and reviewed annually by the Finance & General Purposes subcommittee of the Board of Trustees as part of the organisational cost of living pay review, and the annual development review processes.

Related parties and cooperation with other organisations

Declaration of interests is a standing item on trustee meeting agendas and any contractual relationship and/or connection between a trustee with any related party is disclosed to the full board of trustees.

As a network organisation, cooperation with other organisations is a key part of our work at EFN, and we take that role extremely seriously, endeavouring to provide support to the full spectrum of organisations, from small to large and to network them with one another.

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REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity numbers	1181318 (England & Wales), SC050579 (Scotland)	1181318 (England & Wales), SC050579 (Scotland)
Principal address	48 High Street, Aylesbury, Buckinghamshire, HP18 9AF
Trustees	Catherine Bryan (Chair from 21 October 2022)
	Sian Ferguson
	Hugh Mehta
	Champa Patel
	Hugh Raven (Chair to 20 October 2022)	Resigned 20 October 2022
	Harriet Williams	Resigned 14 June 2022
	Elizabeth Gadd
	Fiona Napier
	Eva Rehse
	Nicholas Addington	Appointed 20 June 2023
Key management personnel	Florence Miller	Director
Auditors	BSN Associates Limited	3B Swallowfield Courtyard,
		Wolverhampton Road, Oldbury,
		West Midlands, B69 2JG
Bankers	The Co-operative Bank	PO Box 101, 1 Balloon Street,
		Manchester, M60 4EP

Environmental Funders Network

TRUSTEES’ RESPONSIBILITIES STATEMENT

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

The law applicable to charities in England and Wales and in Scotland, requires the trustees to prepare financial statements for each financial year. The trustees have to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 20 June 2023 and signed on its behalf by:

Catherine Bryan Trustee

Environmental Funders Network

Independent Auditor's Report to the Trustees of The Environmental Funders Network

Year ended 31 December 2022

Opinion

We have audited the financial statements of The Environmental Funders Network (the 'charity') for the year ended 31 December 2022 which comprise the statement of financial activities, statement of financial position, statement of cashflows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. In our opinion the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Charities Act 2011 and The Charities and
Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Environmental Funders Network

Independent Auditor's Report to the Trustees of The Environmental Funders Network (continued)

Year ended 31 December 2022

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
certain disclosures of Trustee remuneration specified by law are not made; or
sufficient and proper accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Environmental Funders Network

Independent Auditor's Report to the Trustees of The Environmental Funders Network (continued)

Year ended 31 December 2022

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities that result from fraud might be inherently more difficult than irregularities that result from error, which gives risk to a risk of material misstatement. We are of the opinion that the planned audit approach, the documentation and interrogation of the charity's controls means that the audit procedures carried out were capable of detecting irregularities, including fraud. We have also reviewed financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. We have audited the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. We have also made enquiries of entity staff in compliance functions to identify any instances of non-compliance with laws and regulations and have reviewed correspondence with regulatory bodies as part of our audit procedures.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

Environmental Funders Network

Independent Auditor's Report to the Trustees of The Environmental Funders Network (continued)

Year ended 31 December 2022

Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

BSN Associates Limited Chartered accountants & statutory auditor 3B Swallowfield Courtyard Wolverhampton Road Oldbury West Midlands B69 2JG

20 June 2023

Environmental Funders Network

Statement of Financial Activities for the year ended 31 December 2022

Note Income Grants and donations 2 Income from charitable activities 3 Total income Expenditure Expenditure on raising funds 4 Expenditure on charitable activities 4 Total expenditure Net income/(expenditure) Reconciliation of funds Fund balances brought forward Fund balances carried forward	Unrestricted Funds Restricted Funds Total Funds Total Funds 2022 2022 2022 2021 £ £ £ £ 448,694 23,000 471,694 499,738 69,945 - 69,945 19,652
	518,639 23,000 541,639 519,390
	11,093 - 11,093 8,181 398,309 64,194 462,503 434,533
	409,402 64,194 473,596 442,714
	109,237 (41,194) 68,043 76,676 357,038 51,068 408,106 331,430
	466,275 9,874 476,149 408,106

The statement of financial activities includes all gains and losses for the period from 1 January to 31 December 2022. All income and expenditure derive from continuing activities.

The notes on pages 23 to 30 form part of these financial statements.

Environmental Funders Network

Balance Sheet as at 31 December 2022

Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank Liabilities Creditors falling due within one year 11 Net current assets Total assets less current liabilities Net assets Funds Unrestricted General 12 Designated 12 Restricted 12 Total funds	2022 2021 £ £
	357 1,023
	37,213 10,150 466,806 437,425
	504,019 447,575 (28,227) (40,492)
	475,792 407,083
	476,149 408,106
	476,149 408,106
	217,505 161,138 248,770 195,900
	466,275 357,038 9,874 51,068
	476,149 408,106

The notes on pages 23 to 30 form part of these financial statements.

The financial statements were approved by the Board of Trustees on 20 June 2023, and were signed on its behalf by:

_____ Catherine Bryan, Trustee

Environmental Funders Network

Statement of Cash Flows for the year ended 31 December 2022

Cash flows from operating activities Cash flows from investing activities Purchase of fixed assets Cash used in investing activities Increase in cash and cash equivalents in the period Cash and cash equivalents at the start of the period Cash and cash equivalents at the end of the period	2022 2021 £ £
	29,381 92,647
	- -
	- -

	29,381 92,647
	437,425 344,778
	466,806 437,425

Reconciliation of net movement in funds to net cash	flows from operating activities
	2022	2021
	£	£
Net movement in funds	68,043	76,676
Add back depreciation charge	666	666
Decrease/(increase) in debtors	(27,063)	(9,262)
Increase/(decrease) in creditors	(12,265)	24,567
Net cash flows from operating activities	29,381	92,647

Environmental Funders Network

Notes to the Financial Statements for the year ended 31 December 2022

1. Accounting policies

General information

Environmental Funders Network is constituted as a Charitable Incorporated Organisation (CIO) and is registered as a charity in England & Wales (number 1181318) and in Scotland (number SC050579).

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Going concern

There are no material uncertainties about the charity’s ability to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Individual fixed assets costing over £1,000 are capitalised at cost, and are depreciated over their useful economic lives as follows:

Computer equipment - 25% on cost

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside for a particular purpose.

Environmental Funders Network

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Pension costs

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. They are split between projects in line with salaries.

Support costs allocation

Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute directly to more than one activity are apportioned between those activities according to their use or time spent on each.

Judgements and key sources of estimation uncertainty

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed, and are based on experience and other factors, including expectations of future events, that are believed to be reasonable under the circumstances.

2. Grants and donations

Trust and foundation grants Membership contributions Other donations Total grants and donations	Unrestricted funds Restricted funds Total Total 2022 2021 2022 2021 2022 2021 £ £ £ £ £ £ 153,500 190,000 23,000 98,765 176,500 288,765 280,462 210,923 - - 280,462 210,923 14,732 50 - - 14,732 50
	448,694 400,973 23,000 98,765 471,694 499,738

3. Income from charitable activities

Retreat, event and workshop fees Other Total income from charitable activities	Total Total 2022 2021 £ £ 51,941 1,292 18,004 18,360
	69,945 19,652

Environmental Funders Network

4. Expenditure

xpenditure
Research costs: Where the Green Grants Went What the Green Groups Said Other research Expanding Environmental Philanthropy Strengthening the Network Strengthening the Sector EFN Scotland Raising funds Staff travel & home office costs Administration costs Staffing support costs Governance & legal costs Allocation of support costs Total	Charitable activities Raising funds Support costs Total Total 2022 2022 2022 2022 2021 £ £ £ £ £ 7,957 7,957 30,565 27,628 27,628 22,661 10,000 10,000 - 72,936 72,936 132,917 152,449 152,449 99,040 84,385 84,385 64,419 29,187 29,187 24,946 8,358 8,358 6,264 7,755 7,755 3,110 18,971 18,971 20,051 30,403 30,403 23,972 23,567 23,567 14,769
	384,542 8,358 80,696 473,596 442,714 77,961 2,735 (80,696) - -
	462,503 11,093 - 473,596 442,714

The charity identifies governance and other support costs, and apportions them to direct charitable activity, and raising funds on the basis of staff time.

*Prior period comparatives* Research costs: Where the Green Grants Went What the Green Groups Said Other research Expanding Environmental Philanthropy Strengthening the Network Strengthening the Sector EFN Scotland Raising funds Staff travel & subsistence Administration costs Staffing support costs Governance & legal costs Allocation of support costs *Total*	*Charitable* *activities* *Raising* *funds* *Support* *costs* *Total* *2021* *2021* *2021* *2021* £ £ £ £ 30,565 30,565 22,661 22,661 - - 132,917 132,917 99,040 99,040 64,419 64,419 24,946 24,946 6,264 6,264 3,110 3,110 20,051 20,051 23,972 23,972 14,769 14,769
	374,548 6,264 61,902 442,714 59,985 1,917 (61,902) -
	434,533 8,181 - 442,714

Environmental Funders Network

5. Net income/(expenditure)

This is stated after charging:

	Total	Total
	2022	2021
	£	£
Depreciation of tangible fixed assets	666	666
Audit fees	5,832	5,400

6. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Salaries and wages Social security costs Pension costs	Total 2022 Total 2021 £ £ 245,976 182,539 21,205 14,217 17,193 12,831
	284,374 209,587

One employee earned over £60,000 during the year (2021: nil).

The average number of FTE staff per month was 5.6 (2021: 3.9), and the average headcount per month was 7.7 (2021: 5.9).

The key management personnel of the charity comprise the trustees and the Director. The total employee benefits of the key management personnel were £64,445 (2021: £61,273).

The charity trustees received no remuneration during the year (2021: nil)

Three (2021: two) trustees were reimbursed travel expenses during the year totalling £665 (2021: £168). Trustees are encouraged to have their travel expenses reimbursed.

Environmental Funders Network

7. Pension costs

The charity operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the charity and amounted to £17,193 (2021: £12,792).

8. Corporation taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

9. Tangible fixed assets

Cost: At 1 January 2022 Additions At 31 December 2022 Depreciation: At 1 January 2022 Charge for the year At 31 December 2022 Net book value: At 1 January 2022 At 31 December 2022	Computer Equipment £ 2,663 -
	2,663
	1,640 666
	2,306
	1,023
	357

Environmental Funders Network

10. Debtors

Trade debtors Prepayments and accrued income	Total 2022 Total 2021 £ £ 34,315 1,700 2,898 8,450
	37,213 10,150

11. Creditors

Trade creditors Accruals and deferred income Other creditors	Total 2022 Total 2021 £ £ 1,847 17,625 24,137 21,039 2,243 1,828
	28,227 40,492

12. Analysis of charitable funds Analysis of unrestricted funds

General funds Designated funds Expanding environmental philanthropy ‘Where the Green Grants Went’ & ‘What the Green Groups Said’ Supporting sector fundraising Experimenting for impact Programme fund Total unrestricted funds	Funds Income Expenditure Transfers Funds 1 Jan 22 31 Dec 22 £ £ £ £ £ 161,138 518,639 (344,272) (118,000) 217,505 39,000 - - - 39,000 29,815 - (15,089) - 14,726 17,000 - (7,336) - 9,664 110,085 - (42,705) - 67,380 - 118,000 118,000
	357,038 518,639 (409,402) - 466,275

Environmental Funders Network

The general fund represents the unrestricted reserves after allowing for all designated funds.

The expanding environmental philanthropy fund is designated for media work raising the profile of environmental philanthropy, with the goal of inspiring and encouraging new donors to give to environmental causes.

‘Where the Green Grants Went’ & ‘What the Green Groups Said’ is for updates to these two studies which take the pulse of the UK's environment sector and paint a picture of its resources. The findings produce new insights into the environment sector and its needs.

Supporting sector fundraising is set aside for work with fundraisers from across the environment sector, providing access to resources and peer-to-peer networking, and developing collaboration opportunities identified by the sector.

The experimenting for impact fund is enabling us to explore new ideas to connect – it has funded the development stage of the Philanthropy Lab which is bringing funders together to experiment and collaborate towards a big ‘North Star’ goal. It will also help subsidise an experiential retreat for our members and continues to fund the cost of our Environment Sector Programme Lead who works on the NGO facing side of our work, fostering connections between NGOs and their funders.

The programme fund is designated for delivery of our programmatic strategy through to 2026 and particularly up to the end of 2024. Our ambitious strategy requires commitment to multi-year workstreams and an ability to be responsive and flexible. This designated fund will contribute to this across all three pillars of our work, although additional, planned fundraising will be required for full implementation of our strategy.

Analysis of restricted funds

Restricted funds EFN Scotland Reset Narratives Community Bio-leadership Project Total restricted funds	Funds Income Expenditure Transfers Funds 1 Jan 22 31 Dec 22 £ £ £ £ £ 16,348 21,000 (27,474) - 9,874 34,720 - (34,720) - - - 2,000 (2,000) - -
	51,068 23,000 (64,194) - 9,874

EFN Scotland is funding specifically for our Scotland Coordinator who networks and galvanises funders to support Scottish environmental work – which, as our research has made clear, badly needs more funding.

The Reset Narratives Community was established to provide narrative infrastructure to movements seeking a green and just recovery from the Covid pandemic in the UK. The community received further funding from the National Lottery Community Fund’s ‘Growing Great Ideas’ programme to continue this work during 2022.

Environmental Funders Network

Bio-leadership Project was a donation received to help fund a ‘next generation’ leader to participate in this fellowship programme which works with nature to provide learning, connection and support to people and projects, helping them to make breakthroughs in their life and work.

13. Analysis of net assets between funds

Tangible fixed assets Cash at bank Other current assets/(liabilities) Total net assets	General fund Designated funds Restricted funds Total funds £ £ £ £ 357 - - 357 207,782 249,018 10,006 466,806 9,366 (248) (132) 8,986
	217,505 248,770 9,874 476,149

14. Related party transactions

There were no related party transactions during the year or in the preceding year.