2023-04-06-accounts

GREEK CULTURAL SOCIETY OF BIRMINGHAM "ITHACA"

Trustee Annual Report and Financial Statements For the Year Ended 6 April 2023

Charity Number: 1183839

Greek Cultural Society of Birmingham “Ithaca”

Trustee Annual Report and Financial Statements for the year ended 6 April 2023

1. Reference and Administrative Information

Charity name

Greek Cultural Society of Birmingham “Ithaca”

Other name the charity Ithaca uses

Registered charity 1183839 number Charity’s principal BIRMINGHAM CHAMBER OF COMMERCE address 75 HARBORNE ROAD BIRMINGHAM B15 3DH

Names of the charity trustees who manage the charity:

Trustee name Office Konstantinos Anastasakis Assistant Treasurer Athanasia Evlampia Davies Member Vasiliki Drakopanagiotaki Vice Chair Kalliopi-Paraskevi Charitaki Secretary Ioannis Karavias Chair Ioanna-Kleopatra Kouremenou Assistant Treasurer Nicholaos Sachinopoulos Vice Chair Maria Emmanouela Terlektsi Class Manager Antonios Theodoromanolakis Head Treasurer

2. Structure, Governance and Management

Type of governing document: Charity type:

Constitution CIO

Appointment of charity trustees: The structure and governance of the charity is detailed in the charity constitution. 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.

3. Objectives and Activities

Objectives:

Our charity’s aim and purposes as set out in the objects contained in the Ithaca’s constitution are to advance education of the public concerning Greek culture, traditions, language, history and arts in Birmingham and such parts of the United Kingdom as the trustees may from time to time determine through the provision of courses and activities.

Activities:

In setting our objectives and planning our activities the trustees have given careful consideration to the Charity Commission’s public benefit guidance.

This has been a year with many changes which have brought with them great opportunities but also many challenges. The first challenge was that we had to replenish the dwindling number of trustees. There were six of us, but the chair Thomas Laios and class manager Maria Konstantinou stepped down from their roles as they migrated permanently to Greece. Kalliopi-Paraskevi Charitaki joined Ithaca and acted as interim chair until we find more people to join Ithaca’s management. The search lasted until the summer of 2022. At that time, Vasiliki Drakopanagiotaki, Ioanna-Kleopatra Kouremenou, Nicholas Sachinopoulos and Antonios Theodoromanolakis joined, and Ioannis Karavias was elected as the new chair.

Given that last year’s mission was to re-establish Ithaca after the COVID-19 lockdowns , the aim of the new board was to expand the popularity and activities of the group. However, two new challenge were upon us: first, the cost-of-living crisis, and second, our facebook account which was our main means of communication with more than 4,000 likes was hacked and had to be abandoned. In detail, our activities were:

1. Greek dancing lessons: The time and location changed to foster expansion. The cost-of-living crisis doubled the asking rent at Ladywood community centre, which also made it not competitive anymore. At the same price we rented a magnificent room on the fifth floor of the Hippodrome, perfectly equipped and overseeing the city. Of course, the rent was still double of what it was last year. Ithaca’s board decided to keep student tuition at £30 per month, same as before the pandemic, in order to keep our doors open even to those who struggle financially.

2. Iconography: Due to energy price hike we were forced to pay rent this year. Again, we did not feel that it was a good thing to roll this cost to our students, so Ithaca, together with the Greek Orthodox Church of the Holy Trinity and St Church co-funded the classes. Ithaca did not take any fees for this class whatsoever.

3. Greek nights: To further strengthen bonds and attract new members, Ithaca organised two Greek nights which included a display of traditional Greek dances and Greek music:

4. “Traditional Greek Feast”, which took place in October 2022 at the Santorini restaurant.

5. “Tsiknopempti”, which took place in February 2023 at the Midlands Greek Cypriot Association.

6. Birthday Parties: To increase revenue which would help subsidize the cost of the classes, but also popularity, Ithaca’s dancing team became available for hire. It was it hired for Greek nights at the Bournville Gardens Retirement Village and for a private birthday party.

7. Coffee gatherings: Coffee is the typical type of Greek socializing, and this was a type of event that we didn’t try previously. We held a coffee gathering at Bill’s Restaurant at the Bullring, where we also served the traditional Vasilopita cake.

8. “Afirimeni”: Ithaca was a co-applicant for a successful funding bid at the Arts Council of Cyprus, which financially supported the “Afirimeni” show to be presented in Digbeth, at the ACE Dance and Music venue. This is a contemporary art show from Cypriot artists and it represents yet another attempt to approach new audiences.

9. Ithaca pleaded for financial support from the Cypriot government in order to buy costumes for the dance team. Cyprus’ presidential commissioner Fotios Fotiou responded to the call offering us financial support of £820.

10. History Talk: “Surveying and excavating an Ancient and Byzantine provincial backwater Boeotia”, by Dr Archie Dunn. This is an attempt to continue providing quality seminars. The talk was organised in collaboration with the Greek Club of Birmingham.

11. Memberships: we reinstated annual memberships to support income. This time the membership was accompanied by a t-shirt with Ithaca’s logo and by a calendar with traditional Greek costumes.

4. Achievements and Performance

The performance was overall positive. The Greek dancing classes doubled its students, and Iconography classes increased its students to 14. The Greek nights were successful having about 90 and 120 participants respectively, and so was “Afirimeni”. The coffee event had more than 60 people; we didn’t fit the area given to us at the restaurant, so they gave us an additional neighbouring space. The party events were highly successful, and the organisers said they would invite us again in the future. We had 11 memberships and several donations which were given mostly during dancing demonstrations.

5. Financial Review

In the period April 7[th] 2022 – April 6[th] 2023 Ithaca had a total income of £9409.5 and a total expenditure of £2657.72. The reserves are equal to £7279.61. The financial position is considered satisfactory.

Income was generated through the following methods:

1. Memberships and donations: Memberships cost £30 pounds and last for a year. The membership was advertise as a means to support the charity, and it was accompanied by a T-shirt with Ithaca’s logo and by a 2023 calendar with pictures of Greek traditional costumes.

The expenditures were generated as follows:

1. Communications cost: Ithaca has a dedicated mobile number which is used for communications with our members and public. Furthermore, Ithaca built and maintains its own website.

2. Costs for promotional materials: Ithaca’s t-shirts, and the calendars had to be paid for.

3. Advertisement cost: Ithaca paid for a page at the magazine issued by the Greek Orthodox Church of the Dormition of Theotokos and St Andrew.

4. Charitable activities: this is the cost for booking the Santorini and Midlands Greek Cypriot Association restaurants, as well as the costs for renting the dancing room at the Hippodrome Theatre, and the dance instructor renumeration. The iconography instructor is paid directly by the students and Ithaca makes no revenue out of this class.

The policy on reserves is to hold them and increase them until we are in a position to secure a place which can host all of Ithaca’s activities. Currently the activities are spread in various locations in Birmingham and this has an economic cost both for us who need to rent space and our community which have to travel to different locations.

6. Plans for Future Periods

The main objectives for future periods will be to become widely known to the public through activities of greater visibility, such as giving a show at the New Street Train station. This year we generated sufficient income, and it seems that the overall economic and public health situation will continue to improve, increasing the success of charitable activities. Ithaca’s strength is that it carries no debts or obligations, only a good reserve of unrestricted funds.

7. Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Antonios Theodoromanolakis Full name(s) Ioannis Karavias Position Chair Head Treasurer Date 20/1/2024

Greek Cultural Society of Birmngham “Ithaca” Statement of Financial Activities (including Income & Expenditure Account) for the year ended 6 April 2023

		Unrestricte	Total			Total
		d Funds	Funds	Unrestricted		Funds
	Notes	2023	2023	Funds	2022	2022
Incoming
Resouces		£	£	£		£
Incoming resources	from
generated funds
Charitable
activities	1	9409.5	9409.5		2522.4	2522.4
Total Incoming
Resources		9409.5	9409.5		2522.4	2522.4
Resources
Expended
Costs of generating
funds	2	509.25	509.25		251.05	251.05
Charitable
activities	3	6242.53	6242.53		2076.4	2076.4

Total Resources
Expended	6751.78	6751.78	2327.45	2327.45
Net Income of the
year	2657.72	2657.72	194.95	194.95
Total funds carried
forwards	7279.61	7279.61	4621.89	4621.89

Greek Cultural Society of Birmngham “Ithaca” Statement of Assets and Liabilities for the year ended 6 April 2023

	2023	2022
Current assets
	7279.61	4621.89
Cash and cash at hand
Total Funds	7279.61	4621.89

Greek Cultural Society of Birmingham “Ithaca” Balance Sheet as at 6 April 2023

Note s		Unrestrict ed Funds 2023	Total Funds 2023	Unrestricte d Funds 2022	Total Funds 2022
	Income
1	Memberships and Donations	1652	1652	290	290
	Classes	3398.5	3398.5	1000.5	1000.5
	Greek Nights	4359	4359	1231.9	1231.9
	Ithacia Festival	0	0	0	0
	Expenditure
2	Costs of generating funds
	Communication Costs	55	55	135.05	135.05
	BroadcastingCosts	382.27	382.27	116	116
	Advertisement costs	71.98	71.98	0	0
3	Charitable activities
	Classes	2793.69	2793.6	844.5	844.5

			9
	Greek Nights	3448.84	3448.8 4	1231.9	1231.9
	Ithacia Festival	0	0	0	0