ALTOR FOUNDATION
Annual
Report

## Table of Contents 

01 

Introduction 02 03 04 Our Story Our Grants Our Finances 05 06 Our Impact Our Thanks 



## Introduction 

**The Altor Foundation has had another good year, with increasing donations, grant making and a growing endowment.** 

The first and most important achievement this year was the giving away of £43,280 to 14 different UK charities to support projects that align with our goals. This is over twice the amount of 2021. 

We supported 5 charities with donations of £5,000 each, three of whom we support on an ongoing basis. 

The remaining charities were all proposed by the staff or clients of Altor Wealth and we supported them with donations of £1,000£3,000. We made one matched donation of £280 to support a staff member Ashley in her own fundraising. 

We were pleased to be able to quickly give £5,000 early in the year to DEC for Ukraine. We hope to be able to respond again to emergencies quickly in the future. 

This year was the first time that we received a donation from a client of Altor Wealth. £12,500 was received and added to our funds for the year. 

We didn't give away our target of 50% of our income but at 33% we were a lot closer than 2021. 

As a result we ended the year with a healthy cash reserve of £95,230, ready for 2023. 

Our total running costs in 2022 were zero. 

We did invest our target of 50% of our income which saw our endowment grow to £150,245 by the end of the year. 

We remain on track to build the endowment to £1,000,000 before the end of our relationship with Altor Wealth (when the current partners likely retire in 14 years time). 

This should allow us to continue to make grants of £20,000-£30,000 per annum thereafter. 

Our endowment remains invested in the EQ Positive Impact All Equity fund. The fund fell in value in the year. The fund also delivers an environmental and social impact. For our investment alone this was measured as follows: 

- Avoided 47 tonnes of CO2 emissions. Provided 200,000 litres of clean water. Treated 206,000 litres of waste water. Recycled 3.4 tonnes of waste. 

- Installed 3.5KW of renewable energy. Generated 22MWh of renewable energy. Treated 54 patients. 

- Made 89 medical interventions. Delivered 759 hours of education. 

- Reached 27 people with preventative healthcare. 

- Gave 6 people in developing countries access to financial services. 

- Gave 3 people in developing countries access to mobile networks. 



## Our story so far 

## **Our Mission** 

## **Our Purpose** 

Our mission is to improve lives and the world around us. We aim to do this by making grants to registered UK charities that we have assessed as having a large net impact. We deliberately keep our costs low and we look for charities that do likewise. 

We are looking for projects that: 

- Clean up our environment. Reduce waste. 

- Green the energy mix. Alleviate poverty. Improve young peoples health outcomes. 

We particularly favour projects that achieve two or more of these objectives at once. 

We exist to divert some of the profits of the financial services firm Altor Wealth. We want to support charities now and long into the future. 

To do this we aim to gift half of our income away each year and to invest the other half. The aim is to build a permanent endowment so that if/when our income stops from Altor Wealth, we will have enough to reserve to continue our giving programme indefinitely. 

Long-term endowment target: 

In addition we will consider supporting charities that the clients and/or staff of Altor Wealth Management personally support. We will do this by request where these charities do not conflict with our main mission. 


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£1M<br>**----- End of picture text -----**<br>




## Our 2022 grants 

|PROJECTS|DETAILS|WEBSITE|
|---|---|---|
||1 to 3 matched||
|Waterharvest -<br>£3,000|funding to dig<br>wells and tanks in|waterharvest.org|
||NW India.||
|Tearfund -<br>£5,000|Food parcels for the<br>half of the population<br>in Afghanistan that do<br>not have enough to eat.|tearfund.org/campaign<br>s/afghanistan-<br>emergency-appeal|
||Microfinance training||
|We See Hope -<br>£5,000|for 160 families in East<br>Africa and setting up|weseehope.org.uk|
||local savings schemes||
|Disasters Emergency<br>Committee - £5,000|Providing food,<br>shelter and medical<br>care in Ukraine|dec.org.uk/appeal/ukraine<br>-humanitarian-appeal|
||Small loans to poor||
|Microloan Foundation -|women in Sub-Saharan|microloanfoundation.|
|£5,000|Africa to start a|org.uk|
||business||
|Young People with<br>Dementia - £1,000|Working with people<br>affected by young<br>onset dementia.|ypwd.info|





## Our Finances 

## **Our finances are growing.** 

**Income + investing has stabilised and grants are up.** 

**£65k** 

Invested for the future in 2022. 

200,000 


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150,000<br>100,000<br>50,000<br>0<br>2018 2019 2020 2021 2022<br>**----- End of picture text -----**<br>


**£123k** 

Donations received in 2022. 

**£43k** Grants paid out in 2022. 

As expected our income levelled off, as the Altor Wealth business reached maturity. 

Grant giving should increase next year as our grant making programme makes up some ground from 2021 + 2022. 



**22MWh £150,245** Our endowment generated 22 Mega Watt Invested in Social Impact Projects to hours of renewable energy in 2022, through deliver both growth and positive its social impact environmental & social impacts. investing. 

## **22MWh** 



We thank you for your ongoing support of our programme 

The Trustees are grateful to the partners, employees and clients of Altor Wealth. Their continued work, support and engagement is crucial to the success of the Foundation. 

**Altor Foundation** Landmark House Station Road Hook RG27 9HA https://altorfoundation.com/ info@altorfoundation.com 



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|F|orthcy.arend.d31D.cemb|e.2022|||
|---|---|---|---|---|
||Unrcitrictad|Rcitricted|Total Fundr|TotalFudds|
||Fund|Fund|20.2tl22|20tol2t|
||f|€|f|f|
|lncoeandcndowmenBflom|||||
|Donatrons and leSacies|717,162||111,152|14S,798|
|Taxreclaimedondonations|12,201||12,201||
|lnterest received|12||12||
|0ividends|696||596||
|ProfiVloisonsaleofrnvestments|(s,ss1)||(s,ss1l||
|Other revenue||||1,E1|
|Total lncorncandudowrDants|118,521||118,521|147,789|
|Erpendlturc|||||
|Expenditureon reisinSfunds|580||580|210|
|Expenditureon CharitableActivities|43,280||43,280|20,500|
|loteltupcndttuE|43,860||43,850|20,110|
|l{et incom.{.rycndltuEl|74,66L||,4,6L|LZ'p7:)|
|Transfersbetweenfund3|||||
|l{etmovemcntlnlunds|74,661||74,661|127,0?9|
|R.condliation olfund3|||||
|TotalfundsbrouShtforwerd||||6a,467|
|Total fundscr.rLdfoiward|74,661||74,667|195,546|





||AhorFoundation|||
|---|---|---|---|
||BalancaShc€l|||
||asat3lOecemb.r 2022|||
||asatllDcc|2022|asat31 Dea2021|
||EE||fC|
|Fh(edAscts||||
|lnvestmentsatcost||156,916|122,752|
|(martetv"aluef147,283, 2021:8130,115)||||
|CuarantAsiets||||
|Cashatbank andinhand|113,231||72,794|
|||113,231|72,794|
|Total netass€ts||270,207|1rsJ46|
|Funds||||
|Unrestricted fund||270,207|195,S46|
|RestrictedFund||||
|||270,207|195,546|