## **Annual report for the financial year ending 31 December 2020** ## **Charity number** 1181624 ## **Website** www.solbergafoundation.com ## **Trustees** Camilla Johansson Kristina Johansson (Chair) Lyndsey Johansson Vanessa Johansson ## **Registered address and attorneys** Bates Wells Braithwaite LLP 10 Queen St Place London, EC4R 1BE United Kingdom ## **Bankers** HSBC Private Bank (Suisse) SA Gartenstrasse 26 P O Box, CH-8027 Zurich Switzerland HSBC Private Bank 8 Cork St, Mayfair London W1S 3LJ United Kingdom ## **Overview** The Solberga Foundation is an independent grant-making charity which was registered as a UK charity on January 18, 2019 and is governed by its Constitution. The Foundation currently has four trustees. Kristina Johansson is both the Chair of the board of trustees and the Managing Director. The objects of the Foundation are to advance such charitable purposes (according to the law of England and Wales) as the Trustees see fit. The Solberga Foundation funds organisations that are working on animal welfare and climate justice. ## **Mission** The mission of the Solberga Foundation is to promote compassion and peaceful coexistence between humans, animals, and nature. The Foundation envision’s an end to negative human impact on the natural environment and all who live in it. This mission is supported on a local and community level as well as through global and systemic initiatives. As systems thinkers and advocates for future generations, the Foundation embraces and invests in initiatives that address root causes, and shape a more sustainable, equitable, and compassionate future world. Solberga Foundation is dedicated to supporting innovative, lasting solutions that improve lives, empower communities and preserve the land. ## **Governance** The trustees held two meetings during the course of the year online due to the covid-19 pandemic and agreed that Kristina Johansson will continue to manage the day to day activities of the charity. The charity is a family-run entity where new trustees are appointed by the existing board. The appointment of each trustee continues until a trustee resigns. ## **Financial review** The charity has received income totaling £359,781 during the 2020 financial year. It has expended £275,446 on direct grant-making activities and incurred £3,589 of support costs. The year-end net assets position of Solberga Foundation is £84,034. ## **General activities** The Foundation does not have any staff members. The Managing Director administers the day to day activities of the Foundation. Over the course of the year they represented the foundation in various fora, further developed the grant making strategy and progressed the operational activities of the Foundation including updating the application process and updating the foundation website. ## **Grant Making** In order to become an effective grant making entity the Foundation continued to further develop bespoke grant making agreements and established the necessary due diligence processes that met the requirements of the Foundation, ensured relevance compliance with applicable legislation, strove to model best practice with regards to grant making and did not to place undue burden on any potential grantees. The Solberga Foundation does not accept unsolicited grant applications. Grants are made at the discretion of the trustees and range in size from £5,000 to £50,000. Grant periods are for one year from the date of grant agreement. Grant due diligence is managed internally and includes the review of potential grantees through an application form and grant agreement as well as a telephonic or in person conversation with any potential grantees. The trustees agreed to the grant making strategy for 2020 and agreed to make the following 24 grants totalling £259,474.60. **Grantee Name Location Grant Amount (£) *** |UK Tar Sands Network|UK|£ 5,000.00| |---|---|---| |The Leap|USA|£ 8,233.24| |Food Empowerment Project|USA|£ 8,067.70| |Animal Equality|UK|£ 15,000.00| |Friends of the Earth Scotland|UK|£ 15,000.00| |New Economy Organisers Network|UK|£ 10,000.00| |London Mining Network|UK|£ 10,000.00| |Skin Deep|UK|£ 8,000.00| |Platform London|UK|£ 10,000.00| |Green and Black|UK|£ 10,000.00| |Momentum Community|USA|£ 7,859.97| |Tripod|UK|£ 10,000.00| |Coal Action Network|UK|£ 5,000.00| |Healing Justine London|UK|£ 5,000.00| |Thousand Currents|USA|£ 8,116.40| |New Urban Arts|USA|£ 8,116.40| |Thousand Currents|USA|£ 15,044.42| |SpaceDog Society|Sweden|£ 7,778.74| |Eurogroup for Animals|Belgium|£ 20,338.48| |Corporate Accountability|USA|£ 14,919.24| |IC Philanthropy Foundation|UK|£ 8,000.00| |Friends of the Earth Scotland|UK|£ 20,000.00| |Doc Society|UK|£ 10,000.00| |Imkaan|UK|£ 15,000.00| *Grants are paid from the Foundation’s USD bank account and converted to GBP at the rate of conversion on the day the grant payment was made. For 2020 3 main priorities were established and progressed: ## **Make 10-15 grants in the areas of climate change and animal welfare to the value of approximately £300,000.** 24 grants to climate justice groups and animal welfare groups totalling £259,474.60 were made during the course of the year, exceeding the grant target set both falling slightly short of the financial grant making target. ## **Develop a medium-term grant making strategy** A medium-term grant making strategy was developed. This was created with the support of advisors and consultants. ## **Continue to strengthen and develop the Foundation’s operating systems** The Foundation’s operating systems were further developed and the Foundation’s website and application process were updated and further refined. For 2021 the Foundation has set the following objectives:: - Expand grant making to make at least 20 grants in the areas of climate change and animal welfare to the value of approximately £400,000. - Further update the medium-term grant making strategy with a focus on climate change and animal welfare - Continue to strengthen and develop the Foundation’s operating systems Kristina Johansson Chairperson & Managing Director Solberga Foundation Statement of Financial Activities fr)r the y•ar to 31 D•¢•mb•r 2020 2020 2019 Total Tot&1 Income [k)nat￿n8 and SegaciE Bank ￿t￿rEst 359.781 78.802 Total Incom• 359.781 78.802 EXpondI￿r* Fund raisi)g Charitable aCt￿lt*S 279,036 75,513 Totsl expendilure 279.036 75,513 Net Incorne l expondl￿r• 80.745 3.289 N•t mov•m•nt In fund8 80.745 3,289 Re¢onclllallon of funds Total funds bmught foward 3.289 Totsl funds carri•d forward 84.034 3,289 Solberga Foundation Balance Sheet as at 31 D¢c•M￿r 2020 Cttaty 2020 aty 2019 )tes Flxed •$sets Tangib￿ a55ets InvestrT￿nts Totsl flx•d ass•ts Current 888ets Debtor5 Cash at bank and in hand 84,034 3.289 Total ¢urr•nt 84.034 3.289 Credltors: aTTK)unt5 falling due within one year Not current assets 84,034 3,289 84.034 3.289 Unrestrfcted funds Restfjcted funds 84.034 3.289 Total funds 84.034 3.289 These financial slatem&nts have not been audited and ha¥e been preparnd by a fffian￿ prDfes5K)nal Thè nots8 folk)kning fom part of thèso aL¥xsunts. Approved by Ihe BOS￿ on 30 S6pl&rts&r20218nd 8gn8d on thwbthav by Kristlna Johanss Chair Solberga Foundation Notes to financial statements for th• y•ar to 31 December 2020 Principal accounting Wicieg The prinapal a(y))unting polwxs adopitd wi th8 p¥trpartlp)n of tho f￿a￿tIll ststèn*nts ao *1 out btrbm. Bo11* otaccounllng The9e fin8n¢&g1 $t¥te￿nts have been prepared underthe historral (J)st ￿n￿nt￿)n ffi ¥(wrd8n¢e ￿1h the Stat8￿nI ol Recort￿￿nO$d Practhx'Acwunimg and Reportbig by (￿ari￿$, efferlh* January 2019 (the ￿411*$ SORP IFRS 10211. UK a¢¢ounlng standards. hTrcbding'Fmanoal Repothg Stsndard 102 The Fm8nrial Reporthg Stsndard appkabb n the UK and Republ￿ of Irebnd. (FR$ 102land Ihe ¢orrpan*sAd 2006. The tharty is a pubk beneffl entty and has therefore applEd the re￿Vant pubk benefrt rnqUfBff¢nt50f FRS 102. Tho flnandal stalon*nts are pr8P8r8d kn Stethg Ls the fvnthnal oJTh8ncy ofth8 tha￿. InGom• All inconing rtsourtès aTe indudèd Ni the ststtrn*nt DfffflanLial adrkns thtr thathy Is *nthd to Ihe and thtr an¥Junt L*n be quant￿￿11 Yath TraSOnab￿ aLY)Jraw. InLX)n* a ￿nIrbUl￿)n fiorn the JDhansson fan* total￿9 £357.78112019." £78,802lforlhtr ￿anCIal ￿ar. ExF•ndltsr• ExpenditurB ￿ rBL¥JgThEed on an acL¥uah basi5 as a kb*y ￿ iioJThBd. and inL*Jdes anyVAT Lxnnol be fufty rBLvYerdd. Ewndlure on chailab￿ altr￿$ LX)nwr*s o￿t*d 10 th8 dtsLa fvthèranL* of the L*8rfty$ obiodTh*s 8ith6rthffjugh gRnt £259.475 (2019". £73.607lordi8¢t pwraNrn￿$p0nd a8 ¢on8uttanw, speak&rstp8d$ and feas (£10.0491 Support costs reknte lo those fvndk)ns that ass& the of the bu¢do not dyecty undertake f*aiilabkn ¥ctNth¥ Support costs inr*JOe tyank th•rye$¥nd o)n5ulontfees forgo¥emanr* and ance support. Grdnt rrokng ershps Speakerstyjends p￿rd￿Kn￿tr con5ukant 5UPPOrt £ 6.473.73 SupportoJ8ts £ 3.589.24 £ 259.474.60 1.621.62 1.952.51 Tot81 £ 273.111.69 £ 5.923.82 É 279.035.52 Exthange rwle bssllgainl TotAI chartab￿ For•lyn Guwr•rty Transactv)n¥ in [D￿vj￿ vJn¥ni¥Bs artr Trwrded li the fvn(tsnal is PDund stathg. by app￿1)g thtr 8v$r8ge nTh)nthty exth8ng8 rale forea¢h nwth's trans8dh)ns. kthinet8ry assets and d¢nomkn8ted kn forebjn wrrencb$ are tTrn5kted al the rdle of exthange on Ihe baknr* sheet date. Al dire￿n￿5 a￿ taken to the staleTh£ntof fnanaal actmtps. Fundral8lng AS a fOund8￿)n thé sob&￿8 Found81iM do88 not un¢Jertak8 fundAiwg a(INl*$ nor w)(urfvndrf8sing o)8ts. Totsl turrertt assets At the end of the yearthe Foundatrjn hekl rA5h araDSS ts VSD and GBP bank attounts TrL8BC hi the UK and $￿Iketsnd And hekj no other ba￿n￿ sheel assets of anyothergj Tr￿•••%. r•munoThiOon and •xp•ns•• The FOundat￿n dKI not pay to ts Irustees any renJnBAtkiTh dumg Ihe ￿￿rAnd not Trvrd)ur&e any trustee expenses. R•laknd parll•B The FoundatiDn onle￿d li to no rEknt8d party trdnsa%thns tax The Found8lJon is exenwt from tsx on and g8in$ 1a&ig sedth)n 505 of Ihe T8xe$Ad 1988 or9e￿n 252 ofthe TaxalK)n of chargeab￿ Ga￿SAC1 1992 to the extent Ihat Ihe5e arE appkd to its thalilab￿ obpds. ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SOLBERGA FOUNDATION** I report to the charity trustees on my examination of the accounts of the charity for the period ended 30 December2020 which comprise the Statement of Financial activities, Balance Sheet and related notes. The accounting period is from 1 January 2020 to 30 December 20202 and is the second set of accounts prepared by the charity. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts to not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Elizaveta Khaydari BA (Hons), Part-qualified ACA 13 September 2021