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 £62,500 to 16 different UK charities to support projects that align with our goals. This amount is growing year on year.
We supported 5 charities with donations of £6,000 each 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 £2,000£5,000.
We were pleased to be able to quickly give £10,000 early in the year to two international charities for emergency appeals.
£5,000 was received from a client of Altor llp. We also received £1,798 from Cura and Regency Health, two third party vendors of Altor llp.
We didn't give away our target of 50% of our income but at 39% we were a lot closer than 2023.
We did invest our target of 50% of our income which saw our endowment grow to £265,515 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:
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Avoided 48 tonnes of CO2 emissions. Provided 623,000 litres of clean water. Treated 2.2million litres of waste water. Recycled 6.3 tonnes of waste.
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Installed 3.3KW of renewable energy. Generated 44MWh of renewable energy. Treated 31 patients.
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Made 597 medical interventions.
As a result we ended the year with a healthy cash reserve of £205,440, ready for 2025.
Our total running costs in 2024 were £1,430.
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Delivered 2,000 hours of education. Reached 25 people with preventative healthcare.
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Gave 6 people in developing countries access to financial services.
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Gave 2 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:
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Clean up our environment. Reduce waste.
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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 in 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
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Our 2024 grants
| PROJECTS | DETAILS | WEBSITE |
|---|---|---|
| Installing | ||
| Waterharvest - £2,000 |
rainwater tanks on Ugandan schools. |
waterharvest.org |
| Boaz - £6,000 | Farm based project near Winchester for |
boazproject.co.uk |
| adults with learning | ||
| difficulties. | ||
| Microfinance training | ||
| We See Hope - £6,000 |
for 360 families in Uganda and setting up |
weseehope.org.uk |
| local savings schemes | ||
| Money Charity - £2,000 |
Free financial education for UK adults and Young |
themoneycharity.org.uk |
| People. | ||
| Small loans to poor | ||
| Microloan Foundation - | women in Sub-Saharan | microloanfoundation. |
| £6,000 | Africa to start a | org.uk |
| business | ||
| Young People with Dementia - £2,000 |
Working with people affected by young onset dementia. |
ypwd.info |
Our Finances
Our finances are growing.
Income + investing has stabilised and grants are up.
£104k
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Invested for the future
in 2024.
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200000
150000
100000
50000
0
2018 2019 2020 2021 2022 2023 2024
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£162k
Donations received in
2024.
£62k
Grants paid out in
2024.
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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 past years.
44MWh £265,515 Our endowment generated 44 Mega Watt Invested in Social Impact Projects to hours of renewable energy in 2024, through deliver both growth and positive its social impact environmental & social impacts. investing.
44MWh
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
Altor Foundation Charity Number 1187210
Statement of Financial Activities and Balance Sheet
for the period ended
31 December 2024
Independent Examiner's Report to The Altor Foundation
I report on the accounts of the Trust for the period ended 31 December 2024.
Respective responsibilites of trustees and examiner
As the charity trustees of the Trust, 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed 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 which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Act, or
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the accounts do not accord with the accounting records.
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the accounts do 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 order to enable a proper understanding of the accounts to be reached.
Ellen Lefevre FCA CTA TEP
15 September 2025
Lefevres Chartered Accountants 24 Bell Lane Blackwater Camberley GU17 0NW
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Altor Foundation STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2024
| Income and endowments from: Donations and legacies Tax reclaimed on donations Interest received Dividends Profit/(loss) on sale of investments Other revenue Total income and endowments Expenditure Expenditure on raising funds Expenditure on Charitable Activities: Total Expenditure Net income (expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Fund £ 119,798 42,580 232 2,599 2,692 - 167,901 1,430 62,500 63,930 103,971 103,971 340,774 444,745 |
Restricted Fund £ - - - - - - - - - - |
Total Funds 2024 £ 119,798 42,580 232 2,599 2,692 - 167,901 1,430 62,500 63,930 103,971 - 103,971 340,774 444,745 |
Total Funds 2023 £ 111,478 17,283 124 2,093 (6,385) - |
|---|---|---|---|---|
| 124,593 | ||||
| 1,024 53,001 |
||||
| 54,025 | ||||
| 70,568 - |
||||
| 70,568 270,206 |
||||
| 340,774 |
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| Altor Foundation Balance Sheet as at 31 December 2024 £ £ Fixed Assets Investments at cost 239,304 (market value £260,418, 2023: £244,041) Current Assets Cash at bank and in hand 205,440 205,440 Total net assets 444,745 Funds Unrestricted fund 444,745 Restricted Fund - 444,745 as at 31 Dec 2024 |
£ £ 235,234 105,540 105,540 340,774 340,774 - 340,774 as at 31 Dec 2023 |
£ £ 235,234 105,540 105,540 340,774 340,774 - 340,774 as at 31 Dec 2023 |
|---|---|---|
| 340,774 | ||
| 340,774 - |
||
| 340,774 |
These financial statements were approved by the Trustees and signed on their behalf by
15 September 2025 Matthew S Pitcher 15 September 2025 Lucinda A Pitcher
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