Docusign En¥eW10.. 068D4A5F-80F24Eo￿B2F￿6s￿EAO7A62B
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2021
Registered Company Number. 11594608 (England and Wales)
Registefed Charity Number: 1182805
*ABLWIEtr16R*
2110912022
COMPANIES HOUSE
#159

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THE ELEPHANT PROTECTION INITIATIVE FOUNOATION
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
CONTENTS
Page
Legal and Adminislralive DetaÉls
Trustees, Report
Independent ALxlitorfs Report
Statement of Financial ACtIMt￿S
14
Balance Sheet
15
Statement of Cash Fkiws
16
Notes lo the Financial Slalemenls
17

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THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
LEGAL AND ADMINISTRATIVE OETAILS
.FOR THE YEAR ENDED 31 DECEMBER 2021
Status
COM￿nY Limrted by Guaranlee
Governing document
Trust Deed dated 15 January 2013
Company number
11594608
ChaTity number
1182805
Registered office
Bank House
Southwick Square
Southwick
West Sussex
BN414FN
Operational address
Bank Hcwse
Southwick Square
Southwsck
West Sussex
BN414FN
Bankers
Hampden & Co PIC
9 Charbtte Square
Edinburgh EH2 4DR
Auditors
Haysmacintyre LLP
10 Queen Slreel Place
London EC4R 1AG

DoDJSgn Envelope ID.. [W)￿F.8(￿24E￿B3F&wlEA07A62
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
TRUSTEES'.REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021 .
The Trustees, who a￿ also Directors of the charity for tr* purposes of the Companies A¢t 2C#%. present
their ¥eporl with the financial statements of the charrty for the year endecl 31 December 2021.
The financial slalemenls comply wilh the Charibes Act 2011. the Companie5 Act 20C6. the Memorèndum
and Articles of Association. an(1 A¢coiJnling and Reporting by Chaiities." Slalemenl of Recommended
Practice applicable to charrties preparing theiraccounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of {FRS 1021 (Second Edition} effectNe 1 January 2019.
OBJECTIVES AND ACTIVITIES
Purpose:
The Elephant Protection Initiative Foundation's IEPIFI objectives, as sel out in rts governing documents. are
to promote for the benefit of the public the conservats.on and protection of elephanls throu9h th&
implementation of the Elephant PrOtect￿n Inriiative IEPI)
The Elephant Protection InitiatNe is an Afryn-18d initiatNe eslablishe(1 at the London Illegal Wikllrfe Trade
IIWTI Conference In 2014 by the leaders of fNe African Count￿.. Botswana. Gabon, Chad, Tanzania. and
Ethiopia. 11 has since grown to a unique allk8n¢e of 21 Afrun membef Stales dedicated to conserving their
elephant$.
The EPIF is mandaied as the Secretarial to support Ihe wnplementation of the EPI. This includes committing
lo irnplementing the African Elephant Adion Plan IAEAPI. a bluepnnt to save the Species agreed.by all
elephant range states in 2010.. putting ivory stockpiles beyond economic use". closing domeslic ivory
markets", and rnaintaining the 1989 inlemalK)nal ban on the ivory trade. Addrtionally, the EPI Foundation
Viston 2030 focuses on the mrtlgation and preventw of human*lephanl conflict (HEC), In rec¢>anilion of
the changing threats to Africa's elephants.
Summary of main activities:
Recognising thal it is essential to accrue expertise across a bioad base to achieve the EPI'S objeGtives. Ihe
EPIF brings member states, non-member slales. NGOS. IGOS, and the private sector together in the pursuit
of the aims of the EPI and the long-lerm prole¢tion of elephants. This includes the provision of technical and
financial support, in accordance wrth the govemance prctesses of the EPI.
Stale en
emenl & collabootion."
The EPIF mainlains a continuous dialogue and a working relatK)nship with the govemmenls of EPI member
states, from Heads of State. through to Ministers and technical practitioners. This work is facilitated through
an appointed National F(xal Point INFPI in each EPI rnember slate. Engagement Involve5 counlry-specific
objectives. aims lo leverage, and St￿ngthen. support for the EPI, follow up on progress to meet EPI
cijmmitments, and develop a work pLan for ftiture actwrties. The EPIF also engages wrth non-EPI member
stales that have expressed interest, lo recruit new members to the EPI.
The EPIF believes there is a critul need for an cyen. flank. and honest conversation amon9St Afr￿an
elephant range stales on shared challenges. along wrth an enhanced exchange of experience, and mutual
technical and polilical support. To this end. the EPIF convenes countries and key Stakeholders. sharing
knowledge, experience. and le¢hniques in addressing common challenges and factlilaliny the adoption of
agreed p￿icY position5.
The EPIF benefrts fr¢Jm the ad¥￿e and experience of rts Leadership Coun¢il - a group of eminent African
politicians and conservationists which Includes the Fomer President of Botswana. the Former Prime
Minister of Ethiopia, Ihe First Lady of Kenya, the First Lady of Sierra Leone. and Gabon's Minister of Water,
Forests, the Sea, and Environrnenl.

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THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The EPI in inlemational fora.-
The EPI, with rts conlinent-wde membership. Leadership Counul. and supportive FourKlation (acfing as
Secretariatl, is uniquely placed to be the plaffomi through which Africa can articulate ils needs and meet ils
goals with fftspect to elephant eonseNation. To help achieve this. the EPIF attends and ensures the
representation of EPI member ststes at key international e4)nseryat*Jn fora. as deemed necessary to the
advancement ol the EPI.
The EPIF is a proactive voice in Ihe international media on elephant conservation issues and deliver5 high-
impact communications campaigns to raise further awareness of the EPI and the challenges facing Africa's
elephants.
The intemalional ban on iv
trad6 & closurp of domestic mathets."
The continued ￿gaI trade in ivory, whether domestic or international. threatens the future of Africa's
e￿phants by perpetuating demand and serving as a cover for illegal trade, which would lead to an upsurge
In poaching. The EPIF has continued lo campaigrh for the closure of remaining domestic ivory markets,
assist governments in this pfo¢ess when requested. and ad¥¢)¢ale for maintsining the inlemalional ban on
trade in elephant ivory.
. Securin
ivo
Stockpiles of ivory and other wildlrfe producls accrue frThM Carcasses found in the wikl w seized from
traffi¢kers. The storage and management of th&se objecls are often woefvlly inadequate- enabling theft. or
the neglect of evidence that is essentkgl to securing wildlrfe crime persecuth)ns. The leakage of ivory back
into the illegal market, and the weak enforcement of wildlrfe protection laws, perpetuate the ivory trade and
the continued slaughter of elephants. To address this and meet the EPI commitment of placing Ivory beyond
economic use. the EPIF provides support in stctkpile management for ivory and other wildlrfe products.
'in¢luding'.
Implementation of a beswke Stockpile Management System ISMS) - a dpjital tool for secure storage of
invenlory data of goveinment-held ivory stocks. The EPIF conducts training on the app and technology,
di5seminales resources, and ongoing troubleshooting to enable continued independent use. The SMS
helps to strengthen law enforcement efforts and facililate the annval inventory of stockpiles lo comply
with the requirements of the Convention on Intemat￿naI Trade in Endangered Species ICITESI. The
SMS protocols. tools. training, and technical support have been accredifed by CITES and have been
used widety across EPI member stales.
Achieving Gold Standards in Ihe management of Nory and other wildlrfe prc*lucts. Tht5 includes a loolkil
outlining requirements for PhYs￿al storeroom securrty, storeroom management, record keeping and
movement of ivory. as well as techni¢al and financkgl support to make storeroom improvements and
provide capacrty building. Additionally, the IMp￿mentat￿)n of stronger Standard Operating Procedure5
. (SOPS) lo enable transparent, secu￿. and effective management.
The EPIF has developed a surte of resources arKJ training tools to support Stockpi￿ management, freety
available and in multiple languages.
Develo
National Ele
hant AC1K￿ Plans..
Nalional Elephant Action Plans INEAPS) are 10-year elephant conservation strategies, developed by
national governments with technical and financial assistance from Ihe EPIF, to support the implementation
of Ihe African Elephant Action Plan at the national level. NEAPS are practul lools for counlries lo idenlty
and prioritize actions to protect their elephants that require Imp￿ment8110￿. Importantly, NEAP5 provide
framework through which financial and technical support ean be-applied for.
Increasing awareness of conservation . issues, strengthening regional and national knowledge and
cooperation. and improving bcal communrties. collaboralK)n in the conservation of African elephants are
integral to NEAPS. wh￿h arealoned ￿th the Unrted Natb)n's (UNI Sustainable Development Goals ISDGsl.

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THE ELEPHANT PROTECTIOM INITIATIVE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Addressin
Human-Ele
hant-conllict.
Looking across the horizon to 2030 orto 2050. it is Africa's rapidly growing human population and economic
growth, wrth new and expandin9 human settlemen15, rebted infrastrudure. and conversion of land to
agriculture, that Itx)m as the largest threats lo elephanls. As a result, we have witnessed a dramatic growth
in HEC across Africa. as people arKJ elephants compete for land and dwrhdling natural Tesources. If existing
conflicts are not resolved, and fLrture conflicts avoided. the prospe¢ls of Africa's elephants thriving across
their range in 2030 are b￿ak.
In November 2020. the EP'IF announced a focus on the miligation and prevention of human*lephant
conflict, in recognition of the changing threats to Africa's elephants This involves raising the level of public
and. polrtical awareness of HEC; advocating for building elephant habrtat considerations into decision-
making processes for policy. spatial and development pLgnn(ng". building a netswjrk of experts. partners, and
donors,. Identif￿atiOn of the undeflwng drNers of the conflict.. and dep￿)￿rnent of locally re￿Vant HEC
Mrt￿ali0n and prevention efforts.
Public benefrt..
The trustees have considered the Chariiy Commission's gumdance on public benefii under Charriies Ad 2011
and this report sets out the woik perfo￿ed by the charity in furtherance of the public benefit.
Fundraising..
The EPIF has an ad-hoc approach lo fundraising aThJ spent £18.84612020.. £3.179) directty on fundraising
during the year Of this, £nil,12020". £1.9061 was spent consutting a prOfesS￿nal fundraiser. The EPIF does
not have dedicated fundraising support and rel￿S on the Trustees and CEO to liaise wrth hNJh-level donors.
'As.a result of this 15OA of the CEO'S salary has been apported lo fundraising.
There have been no Com￿aIntS during the Current or previous year in relation to fundraising.
Grant-making pollcy:
To ensure the. appropriate use ol EPIF sub-giant funds and compliance wth applicable national and
international laws and consideralion5, Ihe EPIF operate5 a granl selection and monrtoring process. The
EPIF will evaluate each sub-granlee's risk of non<cKnpliance with wulalions, including Federal stalules,
and the terms and condrtions of the sub-grant before su￿aWard Agreements are issued.
This includes the following steps.
Registration form to apply for funding {with supwliThJ dccumentationl.
2. Risk assessment process for the selection of sub-recipients. The risk assessment addresses
several lopr a￿0$ that include prior grant management exper*nce. financial management, and
personnel. Based on Ihe conclusions ol the risk assessment. the EPIF will determine whether
special conditions are needed because of increased risk.
3. Grant agreement and grant terms and condrtions. whth establish the grant condrtions. must be
signed by both parties.
4. Regular due dilvJence and adherence lo the grant agreernent monrtoring throughoLrt the lrfe of the
grant. The frequency ol monrioring will depend upon the level of risk delennined In the Due Diligence
Forni. The EPIF ￿11 monitor the activrties of the sub-grantee as necessary lo ensure thal the sub-
award is used lor authorized pucpo$es. in compliance w.rth regulations. and the lems and conditions
ol the SUb-a￿ard." and that 5ub-award objectives a￿ being achieved. Delails of the reporting
requirements and monf(oring are outlined in the Granl Agreement and Terms aTrJ Conditions. and
the project Monrtoring & Evaluation pLan.

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THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 310ECEM8ER 2021
ACHIEVEMENTS AND PERFORMANCE
Growth ofthe EPI..
Since its launch al the London Conference on IWT in February 2014, the EPI ha5 grown from 5 to
21 Member slates, delemiined to end the killing of elephant5. The majorrty of Africa's surviving
elephants l¢ve In EPI member state5. which span the continent, from east lo wesl. from savannah
to dense forests.
The EPI has brought togelher rn0￿ than 40 of Ihe wthd'$ reading NGOS and IGOS v4ho have
publicly de¢lared their support for Ihe EPI'S aims.
The EPI FOundat￿n has been established as the sole Secretariat, whose expertise has grown to a
dedicated team of 9. with a presen￿ In the UK, West Africa. the Hom of Africa. Easl Africa,
Southern Africa, and Europe. maximising capacty wthin a Cost-elf￿1ent framework to deliver direct
support lo member states
A Leadership Council lo the EPI FoUrKlal￿n has been estsbltshed, ccrfnpri5ing a group of eminent
African polrticians and conservalK)nists
C￿ation of a surte of resources through the EPI website. providing partners and governm8nl$ free
access lo effective tools and best practice gui¢Jance. available in mumiple languages.
Through its growth in size and status, the EPI has brought African voices lo the fore, creating an
African-led solution to the elephant cnsis and a partnership-based approach. African countries aro
responsible for managing their elephant p¢)puLgtions, In line with internalional obligations, and
solution5 to these challenges must be African led if they are to succeed.
l Advoca
The EPI is unKiuefy placed. through ts h*Jh-￿vel support. extensive ¢onneth'on$ with donors.
Conservation organisalions and the internalKJnal media, and has acted as a conduit between Afnca
and the rest of the world, to seek solutions to the challenge5 facing Africa's elephant populations.
The EPI FoUndat￿n has many time5 convened rnwnber states at international conferences and
meetings, ranging from hvJh-level P￿sidentIal meetings lo technical workshop5 for wildlife
departments. Addrtionally. the EPIF has facililaled the appearance of key stskeholders in the
intemational media. raising global awareness of the EPI and its goals.
This has enabled greater regional wrafioTr. Soulh-south knowledge exchange. adoption of
common policy posr(ions, raised public and political awareness. and supported wider biodiversity
protection.
in
Ilje internat￿￿31 moratorium and closin
domestic
maf*
The EPI member states and partners. acting together to bring about" a shared desired outcome.
have led with a strong and vocal stance for the maintenance of the intemational ivory ban and had
a major Impact on c1051ng the legal ivory trade and domeslic Nory mathet. Consequenlly, this has
reduced the prices of ivory and incentives for elephant poaching and ivory smuggling.. an organised
crime that destroys elephant populations and fornen15 instsbility. Huge Strides have been made.
and il is difficum lo envisage Ihe retum of the intemalional ivory trade. Despite this we know we
cannot be cOmpla￿nt. and there S￿ trrAJbh'ng signs of an in¢￿aSe in elephant poaehing for ivory.
particularly in Wesl and CenlTal Africa.
Suc￿Ssful advoca¢y has been undertaken for ￿501￿110n$ on dL*neSt￿ ivory matl(et closure lo
governments and at key international Conservati￿ confetences ￿clUdIng CITES and International
UnK)n for Conservation of Natu￿ IIUCNI summits.
The EPIF provides domestic closing protoco￿, enablin9 member 5tstes to plan and implemenl.the
closure of their d(mneSt￿ ivory mad(ets.
Cruck?I breakthroughs were achieved for the Closu￿ of major consumer marf(ets with the bans of
ivory sale$, by the United Slates (US). China. Hong Kong. Taiwan, Australw, Singapo￿, and the
European Union IEU) instig*ing a consulialion process longoingl.

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THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDEO 31 DECEM8ER 2020
The EPIF played a Signrf￿ant role in the introduCt￿n of the Unrted Kingdom IUKI Ivory kl 2018.
including an online campaign helping to generate one of the largest responses to a DEFRA
consultation, wh￿h came into effecl eartier this year.
An
National Ele
hanl ACt￿n Plans
Creat￿n of Standards & GU￿elIneS for the devebpment of comprehen$Ne. budgeted and time-
scaled NEAPS. freely available in muttiple languages.
8 EPI member states have finalized NEAPS wrth IMplementat￿n Plans and budgets develope¢J
through inclusive stakeholder workshops. for Ethiopia, Kenya, Uganda. Chad, Angola, Gabon,
Nigeria and Malawi. Each NEAP identifies what the respective country wvires to protect ils
elephants, the priority projects. and the resource gaps-whlch await the support ol the international
community. Currently in devebpment are Ihe NEAPS of Con90 Brazzaville, Libena,, and C6te
d'lvoire.
Key to this $upp¢yl 1$ the alignmenl of NEAPS wth the UN'S SDG$. supw1ing sustainable
livelihoods for local communities and the harmonious coexistence of elephants and people with
herds able to'travel across their range. Thereby protecling a diverse range of wild animals and
plants, combating climate change. and supporting local Iwelihoods.
The EPIF also provides an advisory role lo fa¢ilrtate short and lon9-tem resour￿ mobilisalion of
NEAPS, including through advancing successful conservation governance models.
ivo
nd economic use throu
h the effectNe man
menl ofstoc
es_'
The EPSF has developed. and widety disseminated across the continent. Ivory Inventory. Protocol
and Management Technology Guwjelines. for conducting a CITES-approved inventory of wildlife
produels. freely available in multiple language5.
The design and implementation of a digitsl Stctkpile Managemenl System. lo support the real-time
management of ivory and other vrildlrfe products. s¥ith acknowledgement from the CITES Standing
Commrttee meeting In November 2017, and infomiation dccuments available on the CITES website.
856 people participated in training 5es510ns on the use ofthe SMS to date- on inventory techniques.
SMS use and the Administration of the SMS. administrator. and user Iraining courses.
120 smart tablets have been promded to government and NGO partners for the SMS.
14 African countries have utilised the SMS. and 11 have up-tQ-date inventories and are able to
report lo CITES in lime for the annual 28th February deajline.
The Best Pradi¢es & Gol¢J Standards for the Management of Wrldlrfe Products toolkit has been
developed and disseminated across Africa. This ou115nes the minimum baseline standards and the
best practi￿ 'Gold Standards. for the management of ivory and other wihllrfe products The toolkit
includes a Gold Standard Assessment App - a digrtal app for as5e55ing storerocrfn security and
management to infomi improvements needed.
8 countries are currently receiving support from the EPIF to implement the Gokl Standards for
stockpile management.
The benefits of a rcA)ust slo¢kpile management system include".
Reduce5 risk of corruption and leakage of wildlife products into illegal trade
Leads lo more successful prosecutorial capabilrtie5
Foster$ inler-agen¢y co1L8boral￿n and improves ¢onfiden¢e in govemment instilulKsns and
law enforcement and therefore relationships between the authonlies and civil society.
Supports cotsntries in reporting at a nat￿￿al and global commrtment level.
PLANS FOR THE FUTURE
Thanks to the activities and collatK)rative efforts of member states and the EPI partners to achieve the EPI
goals, dramatic progress has been achieved. Seven yeats on, the pri￿S of ivory have dropped substantially,
an International ban on the ivory trade remains in force, signrficant domestlc Nory markets have Closed. and
a capabilityto monrtor evidentkilly government ivory 51ockpiles ha5 been developed and deployed. Crucially,
poaching for ivory has ￿duCed in some key areas. and sorne pcpulalions are beginning slowly to recover.
The EPI Foundation has been established as the legal enlrty mandated to be the fomial secretarial of the
EPI.

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THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEM8ER 2021
The EPI Foundation will continue lo provKJe rts core support lor stockpile management and achieving gold
Standards in the management of Nory and other wildlife prcAfjucts. and the development of NEAPS. These
are lundamental pillars of the EPI. Bul rf * want lo secure the futu￿ of Afcica's elephants, we musl do
much more.
In 2020, a consult*ion process was undertaken by the nv•V CEO. John Scanlon AO, working with the EPI
Foundation team. the Leadership Council and the Foundation'5 Board of Trustees, to examine how the
Foundation can best support EPI member states and partners wrth elephant conservatbon in a post-
COVID-19 world.
Analysing the work of the EPIF to dale. rts strengths, and weaknesses. aThJ hN the Challenges facing EPI
member slates and their elephant populations have adapted The resutt Is a renewed Vision and narrative
for the EPI Foundation. titled 'Looking Beyond Ivory- the EPI Foundation to 2030'1'lhe VisK)n'l. In October
2020 the EPIF team set aboL+t an engagement process wrth the EPI Council of Ministers and National Focal
Points on the new Vision 2030, met wrth W￿espread approval, and personal letters of support from EPI
Ministers.
Going foTwaTd, the EPI FOundat￿n will galvanise support for al EPI member states, to help them rnanage
and avoid human-wildlrfe confl¢ct IHWCI and enstjce the hamionhjus coexistence of elephants and people
10 2030 and beyond. The resolution of HWC is an integral part of the AEAP and the related NEAP5.
The EPI Foundation will further devel¢Jp its capacrty in this area, establishing a Human-Elephanl-Confli¢l
Evaluation and Support Tearn Ilhe HEC Team.), a 5rnall interdisciplinary team created lo support EPI
member slates miligale and p￿vent IHECI.
.There are already HEC mitvJatbM pr(4ect$ in many parts of Aff￿. but the continent needs a more
coordinated and mutually supportive approach. The EPI offers this opportunity. 11 will encourage the
deployment ol existing and new lechnologies and techniques across the Continent lo address HEC, and to
support spatial planning.
FININCIAL REVIEW
RÈvlew of the year:
Total income for the year was £1,007,04512020'. £733,268, including £454,901 in nel assets tonsferred
Irom St¢Jp Ivory). The vast majority of thi5 income was donatsons and grants received. The EPI Foundation
worked wilh len re51ricled gran15 in the year. these granls support our government partners to implement
' Ihe aims of the EPI Foundalbon {oullined above). The EPI Foundation has had continued success irb 2021
in applying for and receiving further restricted funding.
The EPI Foundation's expenditure on charilable activities for the Financial Year was £939.797 12020..
£701,356), including support costs of £81.864 12020.. £75,395). Dunng the year the EPI Foundation
maintained close conlrol of operalional cosls. Exarnp￿s of c051-saving measLFres were the use of the UK
government furkjugh scheme, restricting international travel. reducing fixed costs, and othe￿ise ensuring
Ihal value for money is achieved in al areas.
The Charity's reserves al the year*nd We￿ £250,119 12020." £201.7171. comprising £111.802 12020..
£96.7751 reslricled funds and £138,317 (2020." £104.942) unrestrtled funds. The uniestricted feserves
represent the Charity'5 free reserve5.

Docusiw En¥elope10." D6804A5F4CF24EOW5.WEA07A628
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Reserves policy:
The Trustees recoJnise the need lo have sufficient Urt￿$tr￿fed funds held as a reseNe lo ensu￿ underlying
stability should the Chartty face an unexpected decline in income streams. unexpected cost increases or
the need to respond to a Change in its environment (such as COVIDI. Accordingly, the level of unrestricted
reserves Ihat Ihe Trustees believe to be appropriale stands ai £150.C￿￿ Icirca 3 MC￿lh5. funding}. The
Trustees believe this to be appropriate as rt ts Suff￿lent to protect the charity against a fall in income. but
not loo mu¢h that rt would impa¢t the Chanty's abilty to perform rts a¢b'¥ities. The current level of unrestricled
reserves at year-end stands at £138,31712020'. £104.9421. This Is slightly below Ihe target level of reserves.,
however, it is only a small shortlall and gNen the increase on the prior year the Trustees deem this lo be
sufficient.
Principal risks and uncertainties:
The EPIF, with the con51derable and dNerse experEnce and networks of rts Board of Trvstees. Advisory
Panel, staff. consultants and other supporters. is well placed to deliver thi8 project work - and although no
steps can be taken to secure against all nsks in their entirety. they are aware of the various risks inherent in
the lield and risks are raised at board meetsng5 where relevarbt p￿￿S are reviewed.
COVIO-19 continues to impact our activities. and we expect this will continue until a vaccine is widely
available in EPI member states. Despite numerous challenges, the EPI Foundation has managed lo adapt
to new ways of working and rnainlain strong relationships with EPI membe( stales and partners. It has
placed the EPI in a strong posrtion to support the prevention and mi(igation of HEC and be the ptatlom
through which Africa can articulate its needs and meet its goals in ekphant conservation.
The EPIF'S wr)rk d(*s rely on the wll of our govemment partners to maintain conservation efforts as
priority and to deal with illegal wildlrfe trade wthin and across rts borders. and on the interest of private and
bilateral donors in the cause. Our ongoing thought le￿erShip on the wider hurnanrtarian, ec()nomi¢ and
governance Issues mrtl9ates the risk of this ¢ommtrnent svbsiding and is a key aspect of our overall aim.
At each meeting. the Board approves ar￿ monrtors the budget and income forecast, as well as reviewing
an update on the Income and eXpeAdrtu￿ in the interim since ihe previou$ meeting.
There are security risks thal exist in many countries in wh￿h the EPIF operates and lo which 51aff and
eonsullanls travel for work. The EPIF team and Board membets that a￿ requested to travel are selected
for their roles based on Iheir familiarity with these risks - bul will also be briefed on situations specrfic to
thwr destination.

Docuslgn En¥*lcye io". fM04A5F.80F24EO(￿￿￿sS￿£￿7Nb2B
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Typè of governing document: Memorandum and Artic*s ofA$s￿latIon
How is the charity constituted.. Pnvate kn"mrted ctynpany
Trustee selection methods:
Election piocess."
1. The Charity may by ordinary reS￿irti0n'.
1.1 appoint a person who is willing to act to be a director.. and
1.2 delemiine the rotation in which any additional directors are to ￿tIre.
2. No person other than a director retiring by rotstton may be appointed a director at any general
meeting unless.
2.1 he or she is recommended for reelection by the directors" or
2.2 r￿1 less than fourteen nor than thirty-five ¢￿ar days before the date ol the meeting,
the Charity is given a notice that".
a) 15 signed by a member entitled to vote at the meeting.,
b) states the memÈers' intention to propose the appointment of a person as a director.,
¢). contains the details that, if the person were to be appointed, the Charity Would have
to file at Companies House., and
d) is signed by the person who is to be proposeo lo shthii hts or her wllingness to be
appointed.
All members who afe entitled lo receive not￿ of a general rneetsng rnusl be given not less than
seven nor more Ihan twenty-eight clear days, nolice of any resolutTon lo be pul to.the meeting lo
appoint a director other than a director who is to retire by rotation.
4. The d1￿clor$ may appoint a person who is wlling to act lo be 8 director.
S. A al￿¢10r appointed by a resolution of the other directors must retire al the next annual general
meeting and must not be taken into account deleirriining the diredors who are to retire by
rotation.
6. The appointment of a director. wthelher by the Charity in a general meeting or by the other
director5, musl not cause the number of directors to exceed any number fixed as the maximum
number ol directors.
Names of the charity trustees who manage the charity:
Alexander Rhodes, lan Craig OBE. Sanjayan Muttulingam.
Day-lo-day operational control of the charity is given to the CEO
John Scanlon. John Scanlon is
responsible for the direction and long-temi strategy. though any such decisions are ultirnately made by the
trustees.
Arrangements for setting the pay and rernuneration of the charity's key management pèrsonnel
Remuneration of key management personnel is set via benchmarting with other simil* organisalK)n$.

Oocu&"gn En%*lcpe10.. D68D4ASF.8OF24EO￿B3F546S￿EA07m2B
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDEO 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Chant
name
Other name the cha
ses
Re
istered cha
number
Charil
al address
Ele
hant Protection Inrtiatwe Foundattjn
EPI Foundation
EPIF
1182805
Bank House SoLrthwick
ua￿. Southwith. Bri
hton BN42 4FN
Trust¢es' responsibilities in r*lation to the financial $tatem¥nts
The charity trustees (who are also the directors of the charrty for the purposes of ctynpany lawl are
responsible for preparing a trustees, annual report and financial statements in accordance with applicable
law and United Kingdom Accounting star￿ards (Unrted Kingdom Generally Accepted Accounting Praelice).
Company law reqUI￿S the charity trustees to prepare financol st*emenls for each year wh￿h give a true
and fair wew of the slate of affairs of the chariiable company and the group and of Ihe incoming resources
and applKalton of resources, including the income and expendrtUTe. of the eh8ritable.gfOW) for that year. In
preparing the financial statement5, the trustees are required lo".
select suitable accounting poI￿leS and Ihen apply them consistentty.
observe the rnethcxys and principles in the Charitie5 SORP."
make judgments and estimates that are reasonab￿ and prudent".
slate whether appl￿ble UK a¢￿untIng stsndards have been foHow&J. subject to any material
departures disdosed and expLgined in the financial statemenls.. and
prepare the financial slalements on the going cOr￿EM ￿l51S unless it i8 inappropnate to presume
Ihal the charity will continue in business.
The trustees are responsible for keeping prijper accounting rec￿dS that disclose with reasonable accuracy
al any lime Ihe"financial posrtion of the eharity and to enable them to ensure that the financial ststements
comply with the Companies Act 2006. They are also resw)nsibk for safeguarding the assets of the ¢harily
and the group and hence taking reasonable steps for the preventK•n and detection of fraud and other
irregukrilies.
The trustees are responsible for the maintenance and integrity of the ￿rpOrate and financial infomiation
included on the Charitab￿ company's websrte. Legislation in the United Kingdom goveming the preparation
and disseminatKin of finan¢wl slalements may differ frcm *islalion in otherjurisdt¢lions.
Statement as to disclosure to our audrtor
In so far as the trustees are aware at the tirne of app￿￿n9 our trustees, annual report..
there is no relevant infomiabon. being Infomation needed by the audrtor in conneth.on wrth
preparing their rekxjrt, of which the ¢harity'5 audrtor is unaware, and
the trustees, having made enquiries of fellow directors and the chartys audrtor that they ought lo
have individually taken. have each taken all steps that helshe is obliged lo lake as a director in order
lo make themselves awa￿ of any relevant audrt Informat￿1￿ and lo establish that Ihe"audilor is
aware of that infomiatKYn.
In preparing this report, the directors have taken advantage of the small companies exernption provided by
section 415A of the Companies A¢1 2006.
Approved by the trustees on 10 Au9LlSt 2022 and s•Jn&J on their behaff by..
Alèlalfd¥PRhodes
Chair ol the Board of Trustees
10

OocuSKJn Envelope ID.. c*BD4ASF.8￿24E0rFB3Fm6￿EA07pts2B
THE ELEPHANT PROTECTK)N INITIATIVE FOUNDATION
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF ELEPHANT
PROTECTION INITIATIVE
FOR THE YEAR ENDED 31 DECEMBER 2021"
Independent auditorfs report to the members of Conciliation Resources
Opinion
We have audite£S the financkil statements of Con¢ilialK)n Resources for the year ended 31 December 2021
which cornprise the Ststement ol Financial Aclivilies. the Balance Sheet. the Statement of Cash Fl¢)ws, and
notes lo the financial statements. including a summary of Signif￿nt accounting pOI￿leS. The financial
reporting framework that has been applied in their PreParat￿)n is applicable law and Unrted Kingdom
Accounting Standards. including Financial Reportin9 Standard 102 The Financial Reporting Standa￿1
applicable in the UK and RepublK of Ireland {United Kingdom Generally Accepted Accounts"ng PraCt￿e).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable company's affaif5 as al 31 December 2021
and of Ihe charitable company's net movernent in funds, including the income and expendilure, for
the year then ended,
have been properly prepared in aCC￿dance wrth Unrte(J KW￿dc￿n Generally Accepted Accounting
pract￿e.. and
have been prepared in accordance wrth the requirements of the Companies Act 20C6.
8asi5 for opinion
We condvcled our.audrt in accordance with Intem*h)nal Standards on Auditing IUKI IISAS IUKII and
applicable law. Our re5ponsibilitie$ under those stsndards are further described in the Audilorfs
responsibilities for the audit of the frnancial statements section of our report. We are independent of the .
charity in accordance with the ethical requiremenls that are relevant lo our audrt of the financial slalemenls
in the UK. including the FRC'S ElhKal StandaTd, and we have fuffilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit e￿den￿ we have obtained is suflicienl and
appropriate lo prowde a basis for our opinion.
CO￿lUSIonS relating to going ¢oncèm
In auditing the financial 51alements. we have Co￿l￿ded th* the tnJ$tee's Ll$8 of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. W￿ havè not thntrf*d any material uncertainties Telaling lo events
or condrtions that, individually or collectively. may cast signifunl doubt on the charitable company's's abilily
to continue as a going concern for a perK)d of al least twelve months from when the financial statements are
authorised for issue.
Our responsibilities the responsilNlibes of the dir8¢tors with respect to going concem are described in
the relevant sections of this rep￿.
Other Information
The trustees a￿ responsible for Ihe other information. The other information comprises the informèlion
included in the Trustees, Annual Report. Our opinion on the financial statements does not cover the olhei
inlornialion and. except to the extent otherwise expltrtty slated in our report. we do not express any fom of
assurance conClus￿n Ihereon.
In connection with our audit of the financial stalemenls, OUT responsibilrty is to ￿ad the other information
and. in doing so, consider whether the other informats.on materially inconsistent with the financial
statements or our knowled9e obtained in the au¢Jrt or otherwise appears lo be materially misslaled. If we
identify such material Inconsistencies or apparent material misstalemerhls, we are wuired lo delemine
whether there is a material misstatement in the financial sL*emenls or a rnalenal rnisstslemenl of the other
inlomialion. If. based on the work we have performed. we conclude that there is a material misslatemenl of
this other information, we are required to report that fact. We have nothing lo report in thi5 regard.
11

Docusign En¥eloFe ID.. c6804A5F.elE24EC#￿3F￿AE￿)?*WB
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF ELEPHANT
PROTECTION INITIATIVE
FOR THE YEAR ENDED 31 DECEMBER 2021
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in fhe course of the audrt-.
th'e infomatK)n given in the Trustees, Annual Report Iwhich In￿￿e$ the directors, report prepared
for the purposes of company lawl for the financial year for whKh the financial statements are
prepared is con51Stent with Ihe financ&al statements.. and
the direclors. report Included wthin the Trustees. Annual Report have been prepaTed in a¢￿T￿ance
wrth applicable legal requirements_
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charrtable ci)rnpany and ils environment obtained in
the course ol the audit. we have not identrfied material misstatements in the Trustees, Annual Report Iwhi¢h
incorporates the Strateg￿ report and the direclors. report).
We have nothing to report in respe¢l of Ihe follo￿"n9 matters in relation lo wh¢h the Companies A¢1 2006
requires us to report lo you rf, in our opinKsn'.
adequate accountin9 records have not been kept by the charitable comparsy,. or
the charrtable company financial statements aTe not in agreement with the accountin9 records and
returns,. or
certain dis¢10sures of tru51ees' remuneralK)n Specified by law are not made., or
we have not received all the infomalion and explanations * require for our audrt". or
the trustees were not enlilled lo prepare the financial slalemen15 in accordance with the srnall
companies, regime and take advantage of the small companies. exemptions in prepanng the
Iru51ees' report and trom the requirement to prepare a strategic report.
Responsibilities of trustees for the financial statements
As explained more fully in the trustees. responsibilrties statement set out on page 10, the trustees (who are
also the directors of the chartsble company for the purp05e5 of company law) are re5FL)nsible for the
p￿paratIOn of the financbal statements and foc being satIsf￿d that they give 3 true and fair view. and for
such internal control a5 the Iruslees detemiine is necessary toenable the preparation of financial statements
that are free from material misstslemenl. whether due lo fraud or error.
In preparing the financial statements. the trustees are reSpOnsb￿ for assessing the charitable Company's
ability lo continue as a going Concem. disclosing. 8$ applicable. matters reLHled lo going con￿rn and using
the going concern basis of accounting unless the trustees either intend to liqu￿ate the charilable Company
or to cease operations, or have no realistic alternative but to do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are lo obtain reasonable assurance about wheiher Ihe financial statements as a whole are
free from material misstatement, whether due to Iraud or error, and lo issue an auditor's report that includes
our Opin￿n. Reasonable assurance is a hKJh ￿Ve1 of assurance. but is not a guarantee that an audi(
conducted in accordance wilh ISAS (UK) wll a￿layS detect a material misstatemenl when it ex*sts.
Misslalemenls can arise Ircxn fraud or error and are ¢onsidefed material rf, individually or In the aggregate,
they could ￿8$OnablY be expected lo influence the e¢oncAni¢ decisK)ns of users taken on the basis oflhese
financial statements.
Irregularities. in¢luding fraud. are instances of non-¢cThplla￿e with lav4s and regulalitins. We design
procedures in line with our responsibilrties. outlined above. to detect materbal mis5talemen15 in respect of
ifregulaiities, including fraud. The extent to whth our prcLedures are capable of detectirKJ irregularities,
including fraud Is delaiw bekjw".
Based on our underslanding of the charitable company and the sector in wh￿h it opeples, we identrfled
that the principal risks of non-compliance with laws and wulations related to regulatory requirements of
Charity law. and we considered the extent to which non-ccrfnp1lan￿ might have a material effect
12

DouJSi9n Envelope IO.. Dee04A5F4OFZ4E￿B3Fs￿6sAEAO7￿fftB
THE ELEPHANT PROTECTION INITIATIVE FOUNOATION
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS ANDTRUSTEES OF ELEPHANT
PROTECTION INITIATIVE
FOR THE YEAR ENDED 31 DECEMBER 2021
on the financial statements. We also consideredthose laws and regulations that have a direct impact on the
preparation of the financial statements such as the Charrties Act 2011, Cornpanie5 Act 2006 aKI p8yroll
taxes.
We evaluated management's opportunities forfraUdu￿ft1 manipul*ion of the financial ststemenls (including
the risk of override of controls). and detemiined that the principal risks were related to posting inappropriate
journal entries and management bras in certain accounting estimates and judgements such as the income
recognition policy applied to grant income. Audrt procedu￿$ performed by the engagement team included..
Inspecting Corresponden￿ wrth appropnate re9ulators and tax authorrties,.
Discussions with management induding consideration of known or suspected instances of non-
compliance with laws and regulation and fraud".
Evaluating management's controls designed lo prevent and dete¢l trregularitie$,
Review of minutes of meetings to Klentrfy expected material amounts of voluntary in¢ome',
Identrfying and testing ioumals. in particular journal entries. posled wrth unusual a¢wunl
combinations, postings by unusual users or with unusual descriptiorbs,. and
Challenging assUMpt￿nS and judgements made by management in their critical accounting
estimates. including review ol how grant income has been recognised at the year end.
Because of the inherent limtslions of an audrt. ttte￿ is a risk that we will not delect all irreguLqTrtie5, including
Ih05e leading lo a material misslalemenl in the financial stslemen15 or non-compliance with regulation. This
risk Increases the more that ¢(*npliance with a law or regulation is removed frL¥n the events and transactions
reflected in the financial statements. as we will be less likety to become aware of InStan￿S of non-
compliance. The risk is also greater regarding irTegularrties occurring due to fraud Talher than error, as fraud
involves intenth)nal concealment, forgery, collusion. omission or misrepresentation.
A further description of our fesponsibilitie5 forthe audit of the financial sL*emenls is located on the Financial
Reporting Council's website al". wNvw.Irc.or
uklauditorsres
nsibililies. This descfjplion forms part of our
auditor's report.
Use of our report
This report is made solely to the chaTrtable Compan￿S members. as a bc*Jy. in accordance with Chapter 3
of Part 16 of Ihe Companies Ad 2006. Our audrt work has been undertaken so that we might slate lo the
hari(able Company's members those matters we are required to 51ale lo them in an Audrtor's report and for
no other purpose. To the fullest extent Pern￿ed by law. we do not accept or assume responsibility to anyone
other than the charitable company and the charitabbe companls members as a body. for our audit work.
Ihis report, or for the opinions we have formed.
Steven Harper Isenior Stslulory Auditor)
or and on behall of HaysMac1nty￿ LLP, Stat4rtory Audrtors
Queen Slreet Place.
London
EC4R 1AG
Date. 1510912022
13

OocJJSign Erwelopt ID. [￿B0¢￿5F.8OF24E￿82F&86sAEA07P£2B
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (including income and expendtiure accounti
FOR THE YEAR ENDED 31 DECEMBER 2021
Notes
2021
2021
Restricted Unrestricted
2021
Totsl
2020
Total
INCOME FROM..
DonalK)ns and grants
Transferred frcrfn Stop Ivory
684.077
322.968
1.1)07,045
278.367
454,901
TOTAL INCOME
684.077
322.968
1.007.045
733.268
EXPENDITURE ON..
Raising fund5
Charitable aclivilies
18,846
270.747
18,846
939.797
3,179
701,356
669.050
TOTAL EXPENDITURE
669.050
289,593
958,643
704.535
Net incomel (expenditure)
15.027
33,375
48,402
28,733
Transfers between funds
RECONCILIATION OF FUNDS
Total fLtnds brought fcKward
96,775
104.942
201,717
172,984
TOTAL FUNDS CARRIED FORWARD
111.802
138.317
250.119
201.717
The statement of fir￿nc￿l activrties includes all gains and losses recognised in the penod.
14

Oocusign En¥elLye lo.. tKBD4A5F4CF24E(MJ-B3F&865AEA07A628
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
BALANCE SHEET
COMPANY NUMBER 08360909
AS AT 31 DECEMBER 2021
2021
2020
Notes
CURRENT ASSETS
Debtors
Cash al bank
39,087
498.632
83,789
475.444
CREDITORS
Amounts falling due within one year
1287.6001
1357,5161
TOTAL ASSETS LESS CURRENT LIA8IUTIES
250.119
201.717
FUNDS
unreStr￿tea fvnds
Restricled funds
138..317
111,802
104,942
96,775
TOTAL FUNDS
250,119
201,717
The financial slatemer¢ts have been prepared in accordan￿ wrth the provisKJns applubb lo enlifies
subject to the small compan￿$ re9ime.
The financial statements were approve(l and aulhorised for issue by the Board of Trustees on
10 August 2022 and were signed on its behaw by..
AWlalTdèl'Rhodes
Trustee

Do￿SIgn En¥eloEe ID.. ￿BD4ASF40F24EQ￿8￿￿aSS4EA07NfjZB
. THE ELEPHANT PROTECTION INITIATNE FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020 ,
Note5
Cash Ilows from operat•ng activities
23,188
475.444
Total cash inllowllouth¢)wl forthe year
23,188
475.444
Cash and cash equivalents at the beginning of the year
475,444
Cash and cash equivalents at the end of the year
498,632
475.444
Cash and cash equivalents cornp￿ed solely cash at bank aNJ in hand in iY)Ih the Current and prior year.
R¢¢on¢iliation of net Incomo to n¢t cash flows from operating activiti•s
Net incorne for th• reporting year las per
the Statement of Financial Activities)
48.402
28.733
Adjustments for:
Decrease in debtors
{Decreaselllncrease in creditor5
44,702
169.916)
98,086
348,625
23.188
475.444
16

00c￿$¥n Envdope IO.. D6BD4ASF4cf24EI￿￿546sAEA07A628
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ACCOUNTING POUCIES
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financol Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 (Second Edition) ette¢b've 1 January 2019 and the Companies Act 2006. The financial ststements
are prepared in Founds steiling. rounded to the nearest pound.
The charity meels the definitvJn of a public benefft entity under FRS 102.
Asset5 and liats"lities are reeoanised al their fair values unless othe￿iSe stated in the relevant
accounts.ng policy note.
The Elephant Protection Initolive Foundation bs a ￿npanY Iwnrted by guarantee, registered in England
and Wales (Company number 083609091 and a charrty registered with the Charity Commission
Iregistered number 11828051. It's re9lStered address is shown on page 1.
Accounting period
The comperativé figures in Ihesefinan¢ial statement$ are stated forthe penod from 28 September 2018
to 31 December 2020. For Ihis reason. Ihey are not ents.rely comparable with the figures for the year
ended 31 December 2021.
Going concern
The trustees have assessed the charrtls requirements for foreseeable future as well as the impact
of the worldwide Covid-19 pandemic and are ttonf￿ent that SLrfficient funds will be available to enable
administrative operations lo conlinue at a sustainable level for a period of at least 12 months from the
date of approval ol these financial statements_ This will enable the charity to fulfil it5 operational and
statutory obligations in an orderty fashion. The chanty theref￿e continues to adopt Ihe going concern
basis in preparing its financral statement5.
The financial ststemenls do not include the adjustments that would resuli if the charity was unable to
continue a5 a going concern.
Income
All sources of income a￿ included on the Statement of Finanaal ActNilies when the charrty is legally
enlrtled to the inccmne. receipt is probable. and Ihe amount can be quantffjed wth ￿8$Onable accuracy.
Income received under the coronsvirus job retention scheme is reccgnised when the associated staff
costs are incurred.
Gifts in Kind
Gifts in kind relate to donaled items and services. They are valued al the lower of mt4ket and
the value to the charily.
Expenditure
Expendrture is accounted for ¢)n an accruals basis and has been elassified under headings that
aggregate all cost related to the ￿tegOry. Where costs cannot be directly attributed lo particular
headings, they have been alloc*ed to activrtEs on a basis Consistent with the use of resources.
Pension costs
The charity provides a defined contribution scheme. which is avaiLabbe lo all employees. The funds
are independenlty held fr(xn those ofthe charrty. The pen$ion costs comprise the costs of the charills
contrilyJtion lo its empk)yees' pension schemes.
Foreign currency
Foreign Cur￿ncY transactions are translated * ￿te applicable on the transaclw)n dale.
17

00cus￿￿ EnvelopÈ ID ￿￿D•A5F￿0F24EC￿.B3F￿6SAEAoTA62B
THE ELEPHANT PROTECTIOM INITIATIVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2021
ACCOUNTING POLICIES Icontinuedl
Taxation
The chaiity is exempl from corporation lax its charitable activity.
Fund accounting
Unfeslricted funds can te used in accordan￿ wilh the charitable ￿l￿tIveS at Ihe discretion of the
trustees.
Reslricled funds Can only be used ffx particular restricted purposes wthin the objecis of the charrty.
Restrict￿n$ arise when specrfied by the donor or when funds are rat5ed for Pa￿"cular reslrscled
purposes. Further explanalion of the nature and purpose of each fund 15 included in the notes to the
financ￿1 statements.
Estimates and Judgements
Estimates and 2udgements are continually ev8lu*ed and are based on historical experience and other
laclors, Including expectstions ol future events that are believed to be reasonable under the
circumstances. Atthough these estimates are based on the trustee's best knowledge of the amount.
events or actions, aclual resutts uttimately drfler from these eslimales. The Trustees do not consider
there lo be any material estimate5 and judgements
INCOME FROM GRANTS AND DONATIONS
2021
2020
Donations and grants
Amounts received under the Coronavirvs Job RelentKJn S¢heme
1.002.786
4.259
238.501
39.866
1,007,045
278,367
TRANSFER FROM STOP IVORY
Stop Ivory (previously registered company number 08360909 and registered charity number 11523321
tranSfer￿d all rts activities. programs and $ignrfi¢anl funds amounting to £281,916 to The Elephant
Protection Initiative Foundation as at 1 February 2020. The lair value of the nel asset5 of Slop Ivory al
the point of the transfer wefe a5 follows..
Restricted
Unrestricted
Total
Cash and other nel current
assetsllliabilrtiesl
484.728
(18.8271
454,901
18

DowSvJn EnveloFe ID.. 06804ASF40F24ECN>B3FW5AEA07fv628
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {continuedl
FOR THE YEAR ENDED 31 DECEMBER 2021
EXPENDITURE ON CHARITABLE ACTIVITIES
2021
2020
Program implementation costs
HEC development
Ivory EPIF work
NEAP Devel¢)pment
Publicity and ComMun￿tIOnS
Supwt costs
213,491
50,188
487,910
36.223
70.121
81.864
282,681
261.283
26.829
55,168
75,395
Totsl charitsble expendlturn
939,797
701,356
Support and govemance costs
2021
2020
AuditOTS remuneration- audrt f
Auditors remuneration.- non-atldit Ser￿e$
Staff costs
Office Costs
Payroll an¢J other professional fees
Publicity-
Insurance
Other operational costs
Bank fees and foreign exchange variances
10.800
1.860
20.060
5.828
2,573
10,200
1.800
30.274
14.440
19.608
4,581
3.844
680
110.0321
2.924
2,857
34,962
Total support and govemance costs
81,864
75.395
Key management personnd are considered lo be the trustees. Miles Geldard IprevK*u5 CEO,
resigned in the year}. and John S¢ank￿. (current CEO)12020.' the trustees, Mile5 Geldafd and John
Scanlon)
There were no Iruslees. expenses paid for the year ended 31 December 2021 (2020.. £nill.
STAFF COSTS
2021
2020
Wages and salaries
Social security c051s
Pension costs
181.479
15,342
5,489
194,365
13,078
5,557
Total stsff costs
206,310
213,000
The average number of employees during the year was 512020". 6}.
One 8mployee12020.' no employees) eamed behveen £60.OCKJ and £70.0(K) during the year.
The lolal remuneration of the key management personnel of the charily during the year was £108.997
12020.. £79.2661
19

Dr￿us￿JTh EnYÈhpe 10.. D6BD4ASF4CF24EW.03FM654EA07A628
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl
FOR THE YEAR Et40ED 31 DECEM8ER 2021
6.1 DEBTORS
2021
2020
Accrued income
39,087
83.789
39,087
83.789
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
A¢cruals
Deferred income {see ￿low)
18.101
269.499
20.940
336,576
287.600
357,516
Movements in deterred income
Balance at the beginning of the year
Incorne deferTed al 1 January 2021 recogni5ed in the year
Income deferTed during the year
336.576
1336,5761
269,499
336,576
Balance * the end of the year
.269.499
336,576
20

DocuS¥Jn Er￿Upe IO.. D6804A5F40F24Eo￿>$e6sAFA07N6Z8.
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
NOTES TO THE FINANCIAL STATEME1￿$ (continued)
FOR THE YEAR ENDED 31 DECEMBER 2021
MOVEMENT IN FUNDS
At1.1.21
Income
Expenditure
Transfers At 31.12.21
Unreslrided funds
104.942
322.968
1289.593)
138,317
Restricted lunds
- Tusk SMS
Tusk 2021
-CMS
INL
19,995
(19.9951
(10.5171
(17,2211
1392.159)
1153,853)
13.143)
(67.7741
19,232
31.473
392,159
153.853
13.044
58,851
8,715
14,252
- DEFRA 047
- DEFFiA 058
Friedman Frenth
Nalional Geographic
RLtmi
-wcs
-SFG
3.989
8.923
8,588
43,793
4,496
2.C68
4.923
13,890
8,588
59,793
4.496
2.￿8
16,000
{535)
{4.388}
Totsl restrlctgd funqls
96.775
684.077
{669,050}
111.802
TOTAL FUNDS
201,717
1,007,045
{958.643)
250,119
MOVEMENT IN FUNDS (PRIOR YEAR)
Incorne
(Expenditure)
Tran$fers
At 31.12.20,
Unrestrlcted funds
141.768
139.8261
104,942
Restricted funds
Tusk SMS
INL
27.214
49.421
3%.461
15.391
35,991
14,124
30,878
7.055
2.1￿8
12.897
129.3351
1197,289)
(396,461)
111,4021
(27.L￿8)
15,5361
12,915
12.559)
19,995
OEFRA 047
OEFRA 058
Friedman French
National Geographic
Rumi
wcs
SFG
3,989
8,923
8,588
43,793
4,496
2,C68
4,923
(7.974)
Total reslri¢ted fvnds
591,500
1664.7091
96,775
TOTAL FUNDS
733.268
1704,5351
201,717
21

Docusun Enve&ipe ID. [￿ar￿A5F.80F24Er￿>83Fse6S4wMts2B
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued
FOR THE YEAR ENDED 31 DECEMBER 2021
MOVEMENT IN FUNDS Icontinuedl
Re$lricted funds:
- TUSK SMS". Help wth devekjping y￿d-S18ndard stctkpile rnanagement Systems.
- TUSK 2021.. Help with devebping stockpile management systems.
- CMS". Promoting protected areas development in Eritrea.
- INL.. Strengthening storeroom and evidence management for wildlife products in government
custody lin Angola, Ivory Coast and Nigerial.
- Cl.. Stop the acute extinclion threal posed by Ihe ivory trade and to secure a sustainablefulure for
elephants across Africa. through 5UPPOrting the Co-secretsriat of the unique African-￿ Elephant
Protection Initiative IEPI)." The EPI Foundation.
- DEFRA 047.. Deliver priority action5 identrfied in Angola's CITES rnandated National Ivory Action
Plan INIAP) and National Elephant A¢lion Plan INEAPI.
- DEFRA 058.. Devebpin9 gold-standafd slcckpile management systems in Ethiopia, Malawi and
Uganda.
- Friedman French.. Supporting the Govemment of Nigeria to develop their NEAP.
NatK)nal Geographi¢." Complele a revision and updaliny of the current NalK)nal Elephant Action Plan
for Kenya (The ConservatKJn and Managemenl Strategy for Ihe Elephant in Kenya). This project
completed In the year and unspent grant funding was returned to the grantor, resulting In negative
expeThJrture foc the year.
- Rumi". For the Foundation to continue lo provKle cruciJ ￿retarIa1 SUPFQrt for ongoing elephant
Conservation.
- VVCS". Provth lechntsl support to the audrt of the wory St￿kpl1e held by the Govemmenl of Gabon.
- SFG.. Provide techn￿al support towards the delivery of a SFG wildlrfe crime law enforcement project
in Angola.
RELATED PARTY TRANSACTIONS
During the year, the Charty received £19.231 (2020. £nill from Tusk. The Chaimian ofTusk is a trustee
of EPIF. The Charity also ￿ ceived £153.85312020" £28,664) from Conservation Intemational ICII. The
Chief Executive Officer of Cl is a trustee of EPIF.
The were no further reLgled party Iran&icth)ns in the year that require disclosure (2020.. none).
22

Oocu&gn Env*Jpe ID.. D6B04A5F4cf24Eo￿B3FS-86￿?A828
THE ELEPHANT PROTECTION INITIATIVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {continued
FOR THE YEAR ENDED 31 DECEMBER 2021
10. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
Notes
2020
2020
Restricted Unrestricted
2020
Total
INCOME FROM..
DonalK)ns and grants
Transferred from Slop Ivcry
106.772
484.728
171,595
129,8271
278,367
454,901
TOTAL INCOME
591.5cM)
141,768
733,268
EXPENDITURE ON:
Raising funds
Charrtable activities
3,179
36,647
664.709
701,356
TOTAL EXPENDITURE
664.709
39,826
704,535
Net in¢omel lexpenditurel
{73.209)
101,942
28,733
Transfers behveen funds
RECONCILIATION OF FUNDS
Total funds brought forward
169,984
3,000
172,984
TOTAL FUNDS CARRIED FORWARD
,775
104.942
201.717
23