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Greaterchange
Trustee
eport
025
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Table of<br>Contents<br>01 02 05<br>Trustee's Executive Our Impact<br>Statement Summary<br>07 09 27<br>Strategic Report Financial Report Governance<br>31 32<br>Contribution To Our Policies<br>SDGs<br>**----- End of picture text -----**<br>





## **Trustee's Statement** 

**Over the past year, the pressures facing people at risk of homelessness have continued to intensify. Rising housing costs, constrained public services and ongoing economic uncertainty mean that for many, the margin between stability and crisis has become ever thinner. Against this backdrop, the role of charities like Greater Change has never been more vital.** 

**This year marks a significant moment in Greater Change’s journey. Our income doubled, enabling us to expand our reach and support more people than ever before. This growth is a testament to the confidence funders, partners and donors place in our model, and to the dedication of our team and partner organisations working tirelessly on the frontline.** 

**However, growth also brings responsibility. As we reach more people, we are acutely aware that demand continues to outpace available support. Each additional person we help highlights many more who are still waiting. With this in mind, the Trustees remain focused on strengthening our financial resilience, diversifying our income streams and ensuring that Greater Change is well positioned to respond sustainably in the years ahead.** 

**Our impact this year speaks to both the effectiveness and the urgency of our work. As set out in our Impact Report, we supported hundreds of individuals to move into or sustain stable housing, with strong outcomes across wellbeing, employment and financial resilience.** 

**We are also proud to have launched a Randomised Controlled Trial in partnership with the Centre for Homelessness Impact and King’s College London. This rigorous evaluation represents an important step in building the evidence base for what works to end homelessness, and reflects our commitment to learning, transparency and accountability.** 

**While we are encouraged by what has been achieved, we are clear that there is still much more to do. Homelessness is not inevitable, but addressing it at scale requires continued investment, partnership and belief. Every pound entrusted to Greater Change enables us to unlock opportunity, dignity and stability for people at a critical moment in their lives.** 

**On behalf of the Board of Trustees, thank you to everyone who has supported Greater Change this year. Your belief in our mission makes this work possible. We invite you to read our latest Impact Report, reflect on what has been achieved, and continue this journey with us as we work towards a future where everyone has the chance of a safe and secure home.** 


**Thank you, Theo Stevenson-Hill Chair of Trustees** 

1 



## **The Homelessness Crisis Today** 


**The UK spent over £2.8 billion directly on homeless accommodation in 2024/25. Yet, the crisis is worsening every single day.** 

On any given night in 2024, it is estimated that 354,016 **people across Britain are experiencing the most severe forms of homelessness** , including 161,500 children living in temporary accommodation. This represents a 14% increase in just one year – and a staggering 55% rise since 2020, when 227,000 people were recorded as homeless. 

These figures are only expected to increase. As support services become increasingly overstretched and the cost of living crisis deepens, more individuals and families are being pushed into homelessness across the country. 

**Homelessness represents a profound injustice.** The average life expectancy for someone who is experiencing homelessness is 45 for - men and 43 for women, compared to 78.6 and 82.6 year life expectancies for men and women in the general population. 

2 



**What we have achieved** 

## **We’re unlocking doors out of homelessness for people every single day - offering not just financial support, but a real chance at a fresh start.** 

As a team of just 10 at the time of writing this report, we're really proud to have **helped over 1700 people take large steps out of homelessness** ; a key milestone in our journey. 

This year, over **85% of our clients have sustained their tenancies** 6-9 months after our support. At the cost of just £1,397 against expected savings to the public purse of £41,330, our work represents an incredibly effective tool in the wider effort to solve homelessness. 

Our long-term goal is to support over 4000 people out of homelessness in the next **2 years** , and **130,000** in the next **10 years.** 


3 



## **How Greater Change Works** 

**1** 

**2** 

**3** 

**4** 

Greater Change partners with charities and local authorities who refer to us clients for whom a relatively small financial boost will have a transformative impact. 

**The grants are designed by the client themselves alongside their support worker, returning the dignity of choice to them** .* Greater Change then provides some light touch financial planning support after the spending plan is submitted. 

The funds are transferred to the referring organisation within one week of approval. As the money never goes directly into the client’s pocket, this returns the agency to the individual in a supervised and accountable way. 

The client is then able to use the funds to take meaningful steps towards a stable and fulfilling life, **leaving homelessness behind for good.** 

5 

*Examples of what we fund includes rental deposits, clearing arrears, career progression tools, employment opportunities, vital furnishings 

4 



## **Impact Highlights** 

**85%** 

**85.1%** of our clients moved into **permanent housing or sustained stable housing** in 20242025. 


In 2024/25, we unlocked an average of **£41,330 in potential cost savings per person.** 


We supported **687** people who were experiencing homelessness or at risk of becoming homeless in 20242025. 

**57%** 

**57% of our clients were from Black, Asian and minority ethnic backgrounds, significantly higher than the national average, where 31% of all people who were statutorily homeless in England at the beginning of 2025 were from the same backgrounds.** 


The total cost of supporting each person on average is £1,397.  This includes our operational and personalised budgets costs. 

**We believe that Greater Change’s innovative and efficient approach to tackling homelessness is highly scalable. After scaling our work fivefold between 23/24 and 24/25. we’ve built the infrastructure and systems needed to support continued growth, ensuring we can deliver high-quality support to even more clients without compromising on impact.** 


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Individuals Supported Individuals Supported  Annual Target  Total Target<br>2023/2024 2024/2025 for 2025/26 by 2033<br>108 687 1355 70K<br>**----- End of picture text -----**<br>


5 



## **Our Funding** 

**On average, it costs Greater Change £1,397 to support one client out of homelessness. £41,330 in cost savings to the public purse are generated per client supported, an over 29x return on investment.** 

£1,311 of these costs are funded by the Greater Change Foundation. A further £86 funded by the Greater Change Community Interest Company. 

## **Breakdown on how the £1,397 in costs is funded** 

GC CIC Operational Funding £86 GC Foundation Operational Funding £131 

Direct Donations to Clients £1,180 

6 



## **Strategic Report** 

## **Achievements and Performance** 

During 2024/25, Greater Change significantly scaled its response to the homelessness crisis, supporting 687 people who were experiencing homelessness or at risk of becoming homeless. Through personalised, rapid funding, the charity released £1m directly to clients, enabling individuals to secure and sustain housing, access employment, improve mental health, and stabilise their lives. 

The organisation achieved strong outcomes alongside this growth. 85.1% of clients moved into or sustained stable accommodation following support, while 48.7% entered or remained in employment. Improvements were also recorded across mental health, motivation, self-care, social networks and substance misuse outcomes, demonstrating the breadth of impact delivered by the model. 

Despite scaling delivery substantially, Greater Change maintained high levels of efficiency. The average total cost per person supported was £1,397, including both operational and client funding costs. Independent analysis indicates that each intervention unlocked an average of £41,330 in potential public cost savings per person, with a total estimated £17.6m in social value generated during the year. Alongside delivery, Greater Change continued to strengthen the evidence base for its approach. In 2024, the charity launched a nationally commissioned Randomised Controlled Trial (RCT) in partnership with King’s College London, the Centre for Homelessness Impact and IFF Research. 

## **Financial review** 

Greater Change continued to operate a highly cost-effective financial model during 2024/25. Total operational costs were £182,068, while £1m was released directly to clients, ensuring that the majority, 85%, of expenditure was focused on frontline impact. 

We have been able to continue taking on fairly low overhead costs as the principles of grant funding release are realised via Greater Change CIC who bear most of the administrative costs. Local Authority grants are awarded to the CIC as its work is entirely in line with the principles and purpose of the Foundation and it is able to pursue this work in an extremely cost effective manner. 

The Trustees remain confident that the current operating model provides appropriate financial oversight, accountability and resilience, while allowing the organisation to respond quickly to urgent client needs. 

7 



## **Strategic Report** 

## **Future plans** 

Building on the progress made in 2024/25, Greater Change is entering its next phase of growth. Having scaled delivery almost fourfold year-on-year (number of clients supported), the organisation has invested in the infrastructure, systems and partnerships required to support continued expansion without compromising quality or impact. 

Our long-term goal is to support over 4000 people out of homelessness in the next 2 years, and 130,000 in the next 10 years. 

Growth will be driven through a combination of philanthropy, trusts and foundations, and strategic partnerships with local authorities and frontline organisations. Geographically, Greater Change plans to expand into additional regions while deepening its presence in existing areas. Alongside delivery, the organisation will continue to prioritise robust impact measurement, including the ongoing RCT, to ensure that growth is evidence-led and that learning contributes to wider system change in homelessness prevention. 

## **Ongoing Research** 

In 2024, Greater Change launched a groundbreaking trial to evaluate the effectiveness of our intervention through a Randomised Controlled Trial (RCT) design. This gold-standard methodology will not only generate robust causal evidence about the impact of our work, but also provide valuable insights as we expand our model on a national scale. 

The trial is one of 8 studies investigating new and innovative approaches to ending and preventing homelessness commissioned by MHCLG to the Centre for Homelessness Impact. King’s College London is conducting the evaluation alongside the trial’s data collectors, IFF Research, and over a dozen frontline organisations and local authorities. Greater Change, alongside these frontline organisations, has worked to recruit more than 380 individuals with a history of rough sleeping. Participants were randomly assigned to either a treatment group, receiving personalised budgets of a significant size, or a control group, which is not receiving financial support. This structure enables a clear comparison of outcomes between those who access Greater Change’s support and those who do not. 

8 

Results are expected to be released in late 2026. 



Financials
C¢rnp•ny r•gl•tr•tton numb•r CE02flH6 (England •nd Vl81••1
Chthty reglstrallon numb•r 1188164 IEngl8nd and Wal081
GREATER CHANGE FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

Financials
GREATER CHANGE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
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Financials
GREATER CHANGE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
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11

Financials
GREATER CHANGE FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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Financials
GREATER CHANGE FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF GREATER CHANGE FOUNDATION
Oplnlon
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13

Financials
GREATER CHANGE FOUNDATION
INDEPENDENT AUDITOR'8 REPORT (CONTINUED)
TO THE TRUSTEES OF GREATER CHANGE FOUNDATION
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Th088 lows and regula￿On$ considered to have a dlr8ct effact on th8 flnan¢lal St0tWn￿18 Includg UK
flnanclol rwrtlng stand8rd6. chority SORP, fAmp4ny18w. And pon$lon810gi1l811on,
A￿￿rt procedures und8rt8k8n In r85pon8e to Ihe polenl81 rt&k5 rel9￿Tra lo Irregul8d￿88 Iwhlch Inc*yJe fraud and r*
t¥Jmpliance with Laws and reguktionsl compr*8d of.. Iwuiri88 of managem8nl and tMse tharged with govemanr
as to whether Ihe eftlity Com￿105 With such law$ and rogulation$'. enquiries with the samo ¢on¢¢ming any adual ot
ential liligalion or clalms.. in¥peclion ol rel8v4nl legal COrr￿POndenCe,. rev*w ol boord minulas., testing the
approprt8lene8s ol Jgumol ontrf8s', 8nd lh¢ ￿rtoM19nC8 of an8lyU¢o1 rgvlow lo Idonlfy ungXp9d￿ mov8m?nts In
acLX)unl bal8nc¢s ¥thlch may be indicative olfraud.
No instanc05 of material non<ompliance were idfrntifi8d. Ftowtver. the lfftelihood of detecting iWarib8s, inc&Jrfing
fraud. 18 limil6d by the Inh8reThl difficulty in detecting irr6gulanli8s, th8 eff8cIiv8n6ss of th8 enb'tys controls. and the
nature. tlmlno and extsnl ol the au¢ll prrthdures perfomwé. Irrogul8rilie$ Ih81 ro$uII from fraud mighl be Inherenuy
more dtfficull to delect than Irregulartlles Ihal result Irom errtjr. As explained above. ih8r815 an unBvLydable risk that
mai8r181 mlsstat8m8nts may not ba detected. 8V8n the￿h tha audlt ha8 b88n ￿a￿ed and p8rform8d in accord8nc8
Ih ISAS IUKI.
A fijrther do8¢ription ol our rnwsibilib'es ts th• audit ol th• finant4al Itatem￿￿ 18 lotAlod ￿ th• FlnarKAal
Reportlng
Coundls
wabsite
http$JlvAvW.frc.org.uW8udilorr96t￿$lb1lltleS. Th1$ de$crfpts￿ foms part of ourauditors report.
14

Financials
GREATER CHANGE FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF GREATER CHANGE FOUNDATION
Oth•r matt•r•
Your atten￿"On is drawn to the fact that th6 charfty has pr8par8d finandal statements In accord8nce *lth"Accounlng
and R8portityJ by Charities,. St818ment of R8commend8d Practica appluble to charili?s pr8paring th&if accounts In
a¢¢ordane* th8 Flnanclal R8pofbng Stsndard appllcabl& In Ihè UK and R8publlc of Ireland IFRS 1021. 10$
am8ndodl in preforen¢• to th& Ac¢ountinu and Reporunu by Ch8rttF8$.' stsiemont of Re¢omm8nded PwtKx l$$uod
on 14)rf12rJ)5 wthl¢h Is retsrrad lo In lh& oxwnt regulalSon8 bul h88 been wlhdrawn.
Thls hh¥ boon sjono In ordèr for the finwd•l 8talèm•nl6 to pthd• 4 lalr vl•w In ace4)rdane4 wllh eJJrr•nl
Gonor4llyArKAplOd A¢¢ounllng Pr￿￿Ce.
UM of our r•port
Thlj roport * mad0 Idoly 10 th& eharlty'l toJ$i••$. •• a body, In %thlh Part 4 of tha Chari￿ lknounli
and R•pe4ts1 R•gulalon$ 2008, Our audll *tyk ho• b•6n undortak•n ￿ Vwi w• rnI9ht 8ial• to lh• th4rlty$ Iru•t••i
thoso mattern ￿ gre requlred Io stalo lo them in an oudilor's report and lor no olher purp06a. To Ihe 8Xt•nl
Permltted by law. we do not accept or assu￿ responylblllty lo anyon8 other than the charfty aTrJ the charity's
tru8le8s as a t￿. lor our Budil woth, lor thi8 rewt. or for Ih? opinlon5 ￿ have forrn8d.
Bo8vl$ Morg8nAudit Li
SlaiuioryAudltor
82 St John Str••t
London
EC1M 4JN
Dats. ,.291.1.126,...
B•avl¥ Morgwn Audtt Llmllod 1$ 011glbl• aponlmènl 18 audllor ￿ thè ehirfty by v5rtu• of tt• •¥o￿ll1ty hr
appointment as audllor of a eornpany und•rwtion 1212 cf th8 CompIn￿5 Acl 2006.
15

Financials
GREATER CHANGE FOUNDATION
STATEMENT OF FINANCIAL ACTMTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR ThIE YEAR ENDED 31 MARCH 2025
Unr••trSct•d R••trlct•d
fund•
fund
2026
202S
T•¢•1 Unr••trlct•d R9•trl￿•d
lund•
fundb
2024
2024
2024
unaudlt•d
unaudlt•d unaudlt•d
Total
2026
Not••
Dona1I0Th8 8nd1og•d
Imieslm8n18
340,648
10,682
8t9,382
1,1eo,OC#)
10,682
395,S98
302
t53.940
549,538
302
T<>t•l Sncorn•
351.3x1
819.352
1.170,682
395,900
153,940
549.840
FundroI$ing aclkfWg1
2.133
3,266
Charllobt• •¢thlJ••
384,696
804,475
1,189,173
43,074
145,036
188,110
Tot•1 r•#our¢
•xp•nd•d
385.831
806,608
1,192,439
43,074
145,036
188,110
Gro￿ tranth boh¥oen
funds
N•¢ l•xp•ndllur•yln¢om• f¢x
th• y••rf
N•t mov•rn•rt In fvnd•
1,817
11.8171
134,5011
12.744
121,7571
3S4,843
7.087
361,730
Fund bal•rK•8 at 1 Athl
2024
380.930
14,435
375,365
6,287
13,635
Fund b•l•n¢M •t 31
M•r¢h 2025
326,429
27,179
353,608
360,930
14.435
375,365
Th• •lalemont of flnandal advltla8 Indud•% all gAlnJ and lo$1￿ In tha y••r.
All Inc<•n• and •xp•ndllur• d•rlv• from ¢onlnulng Aclvllu.
16

Financials
GREATER CHANGE FOUNDATION
STATEMENT OF FINANCtAL POSITION
ASAT31 MARCH 2025
2025
2024
unaudStsd
Curr•nt aA#•ts
D8btors
Caih ai bank Jjnd In hand
12.530
506,225
53,838
329,385
518.755
383,201
Cr•dltorn: •mounts falllng du• wllhln
on• y••r
1165,1471
17,8361
Not rgJrf•nt •wts
353,608
375,365
Incomo fvnd*
RestrKt80 fiJnd8
Unr¢$lrlthd fvnd$
13
27,179
328,429
14,435
380,930
3S3,608
37S,385
Tho rtho ￿ pogo8 9 Ihrough 1fj form portol the finoncS81 $tslem8nts.
2910112026
Tho 8talem•nl$ wèr• approvéd by lh• TnJ$i••$ on... .....................
JTan
ThMt••
ThMt••
Ch•rlty R•glAtratlon No. 1188164
17

Financials
GREATER CHANGE FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Not••
¢i•h ftow• from op•rntln# •¢ti
¢88h 98n8ra18d from op8ra14ons
18
166.178
321.762
Inv••lbng •¢tlvlll••
Inv&$bnent in¢om8 reealv•d
10,682
302
N•t M•h 9•n•r*t•d from InvMdn9 I¢￿¥111•8
10.682
N•1 ¢Mh o•n•rat•d Irom flMn¢lno •¢tlvltl••
N•t In¢r•M• In ¢••h •nd ¢i•h •qulv*l•nt•
176,89)
322.054
Cash ¢agh equlvalent$ al trfinnlng of year
329.365
7.311
Ctsh and ush •qulv•lorts •t •nd oly••r
506.225
18

Financials
GREATER CHANGE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Ac6ountlng poll¢h•
harfty Infomi•Yon
Greater Change Fountta￿on Is a chadtsbk8 Incorwat8d organlsthon In ErvJland and Wat88. Th8 reg181wed
office 18 W8sl London Mi88*Jn, 13¢136 Seyrnur Place, London, W1H 1NT.
1.1 Accountlng con¥•ntlon
The accounts lfinanclal 8t818monl81 hav• been prep8red In accordaneo wllh Ih• rel￿9n1 version of Iho
St8temenl of Recommgndod Pro¢Jc• applicablo to chortl￿$ prtsp0￿ng thèir #ccwnts In oc¢ord#nco wllh th•
Financi81 Rewrtirrfj Slandard aP￿Icable in Ihe UK 8nd Republr of I￿L)nd IFRS 1021 and Ihtr FinHnc441
Rèportlng stsndlrd appllrabla In lh& Unllèd Klngdom and Rtrpublic of Iréland IFRS 10218nd the Ch8dlle&Ad
2011 and UK Ganerally Acc6Pt8d Accounung Practice. The accounts (finana￿ 8t81ern?nlsl hav6 been
prepared to glv& a 'lrue and falr, vi0w and hwe departed from the Charflley IAccr*Jnts and Report81
Regulgtlon5 2008 only lo ihe gxionl ffjquir•d lo provldB a 'lruo Ond l¥lr v10w', Thi$ dBp0rturo hp$ Inv(Av¢d
lollowlng th8 r8levanl v8rsion of thè Stsl8m8nl of R8commend8d Piadce 8ppllcaNe lo ch8dlles pr8P8rf
Ihoir 8ccounl8 In accordance ￿th th8 Fln8nc181 Reporting S18nd8rd applicBbla in th8 UK 8nd Republic of
Iro18nd IFRS 1021 rather than the Accououng and Reportlng by Chan￿￿.. St8l•m8nl of R•coMmend•J
Prn¢ii¢& •ff•¢llv& from 1 Awl 2005 which ha$ slnc• b￿n *ilhdmYm.
The flnandal 8ts18m8nls ar8 pr6P8r8d In 818rflng, whlch is Ihe furKVond currency of the charfty. Menetsry
amount8 In Ihe80 fin8nclal 8latsm8nt& 8re rtyjndad lo tha ￿are&l £.
The finanwl $181omenl$ have prtrp¥ed und¢r th• ¢081 c4>)ven￿on. Tho p￿￿1P81 accou￿r(
polcle8 adopted aro $01 out below.
1.2 Golng Gonc•m
Al tho Ilme of 8pprovlng th• flnandal 8latsm6nls, Ihe Tru&i•e• hove 8 raawnBbla •xpact8￿0n that Ihé chartty
h85 ad8qual8 rasourc88 to continu? In operatlenal exlslence fer Ihe foreseeab￿ frjture. Thus, th8 Truste88
cmllnue to adopt the qolng concem b8818 of 8ccounllng In pr8partrMJ Ihe fhanclal Blal8rn8nlo.
1.3 Charltabl• lun
UnFO¥lrfcl8d funds are avBllable fr>r use al Ihe dlscr8llon of the Tru•¢0￿ In furfhoronco of th•lr charlt4tl•
obpctlves unle55 Ihe funds have bfjen d95Nnated for other purpLJS95.
A￿1r￿clad fund8 arn avaIla￿a for u8• for lh8 d•algMled pry8o1 onty.
1A Incom•
Income Is recogni88d when the chanty Is legally ents.ued to it after any performanc8 condltknns have been mot,
the amount8 can be measured r8118bty. il probable that IncoTh wlll b8 received.
Cath donthns are recogni88d L47 r8ce4pl. Olher donatlons ar8 rec4nlsed once Ihe charty has been nolfied
of ihe donavon. unlo88 pertomianco condi1Son8 Fequlre deferral of Ihe amounl. IncoTh lax recovor8blo In
rgL•bon to (k)naWorts received under GfftAitl or deeds of ¢ovenanl 1$ ￿¢09nised ot Iho lime ofthe dwallon.
1.5 Expendltur•
Liabilities rgcwised as exwThlitur0 soon BÈ thorts is 010901 or constru¢tivè obllgBkn ¢ommlttlng ths
chadty lo that exp8ndllure. rt Is probabl8 thal a transfer of 8conomK benefits wlll b8 r8qulr8d Sn 8etU6m8nl and
the amount of the Obligatir￿ can be measured reliably. Expenditure is accounted for on an accwals basis and
h•s been classified under headings Ih81 aggregate all c051s reloled lo the cole&wy. Where c051s cannol be
ttlrecmy atthbuled lo particular he8ding8, thty h8vé b8&n alocaled to 8dvities on a basls consl$i8nt wlth lh8
U&8 of r88tyJrces.
1.6 Ctsh and caih 14ulvalèr¥ls
Cash and cash 89ui¥al8nl8 Include c88h Sn han(5 8TrJ d8pos5ts hdd at call *1lh b8nk8.
19

Financials
GREATER CHANGE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Aceountlng polle1•
IContlnu•dl
1.7 Wn#n¢l•l In•trum•nts
The charlty has elected to #pply the provlsknl ol Se¢llon 11 '8#ik Flnanclal InstNrnonl¥' ol FRS 102 to Al of
its rinancial inBtrurnenll.
Fln•n¢lal In8trumont8 ar• ro¢ognl$ed In Iho ¢hartV8 b&lonc• sh*t when tho chorty ￿¢0M&S porty to lh•
)ntractU81 ol th¢ Inslrumenl.
Fln¥n¢lal 8$$el$ arnl Ibtylftle$ are off$et. with th8 n&t amounts We￿nIort In th$ flnandal $18tom8nl$,
Ih810 1$ alooally &nftyco8tl• right to set off Iho recogn1￿d •mounts antl there 1$ an inkn)Uon to s&tUe on 8 n
b••* or to r&8118• tIK* ••••t ond 101110 lh• I￿￿lIty 81multan￿lSPy.
8•W¢ Iln•n¢l•l••••l•
B88lc fln8nc181 888Ot8. whlch Includ6 debtors and cash 8nd bank b8lance8, 8re Inlllally measured al
tr8nsacUon prk8 Indudin9 tran8actlon costs and ar8 sub8equ8nUy carrted 81 amorb8ed cost uslng th8 eff6cb¥e
Inter8sl m8lhod unles8 th6 8rr8ngement conslllut8s a finanong tran$8cllon, where th6 tr8n8actx￿ 1$
m88sur8d 81 th? pro88nt value of the futuro ro¢elpts dls¢ounled at 8 market fats of interest. Fln8n¢lal 8$8•ts
al recalva￿• wfthln on8 yoar •r• rnt •mDrtl•8d.
818lc Iln•ncl•lll•bllld•8
Basic financlal IlabiliUe8, Indudlng ¢Yeltys, gre InltLg1ty rocognI$￿ 8t tr8ns*on prt¢g unlo$8
arrong6m8nl wn$titutss a fln8n¢lng tronsgc*"on, wherg Ihg InslNmgnl 1$ m•8sured al the pre￿nt v•lug
of the future payments dis¢ounled ai a morfEet rale of Int•re$t. Finon¢i811Iobllilie$ d8$$ffi¢d 08 P8yablg
yeor •ro not •mor¥•¢d.
O•bt In•lrum•ntJ •r• wt•equ•nlly carrf•d •1 •mOr￿a•d co•t, u**J th• •ff•¢llv• lThtsr•*l r•1• m•lhod.
1.8 Ernployeo bonefft•
The cost of any Unu￿ hollday 8nllllement h re￿gnISed In ￿ pgrfod In whlch the employo8'8 88rvlcos arg
rtt8iv6d.
Tormln8llon b8nefftB ar• recognlBed Imrnodthloty a• sn oxpenw Wh￿ tho charfty l• d•rnonBtrab1y coMMlqd
b) ternlnale the 8rnpWnent of 8n employee or to provld8 ternlnalon b8nofl15.
1.9 Rotlr•ment boneffta
Payment8 to d8flr¥8d conlrtbullon re￿re￿nI benefft scherr￿s are ch8rg8d 88 8n exF4ns0 88 they f811 due.
Milon• ind l•g*GI•#
Unr•¥trf¢t•d RMtrf¢¢•d
fund¥
fundi
Tot•1 Unr••trl¢t•d RMtrf¢t•d
funds
funds
T*)thi
2025
2025
2025
2024
2024
2024
ungudlt•d un•udltod un•udlt•d
OTh)0tL￿$ and glfts
340,fj48
819,352
1.160.orKI
395,598
153,940
549,538
20

Financials
GREATER CHANGE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Incom from Inv••lm•nt•
Unr••trlct•d Unr••trlct•d
funds
lunds
2025
2024
unaudSt•d
In¢•r•Jl r•celvobl•
10.882
302
Fundraknlng •CtIv￿•1
Unmtrlct•d R•*trlel•d
fund•
fund•
Tol•l Unr••lrfet•d
lundl
2025
2025
2025
2024
un•udlt•d
Advertising
1.133
2.133
3.286
1,133
2.133
3,286
21

Financials
GREATER CHANGE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YE4R ENDED 31 MARCH 2025
Chawltablo •ctl¥ttlo8
2025
2024
un•udll•d
Slaff co1￿{488 nol8 81
Othar charg03
Accountancy 18•1
Audll lees
L•g81 ond prol•Mlonal f•
Consull8n¢y
Ir15ur8nce
Compubr Nnnlng w•t•
Prinllng and Slallonery
Rent
siall •ni•n•lnnwi
125,097
1,662
9.960
1.680
5.556
24,586
1.119
180
145
8.844
1,630
216
1,315
78
4,836
Travolllng
Stall Ir8lnlng
182.068
10,684
Gr*nt furtdthg ol advlll•s {••• not• 61
1,￿7.105
177.426
1,189.773
188.110
An•ly•S• by fund
Unre$ldcl8d fund$
Rtsldcted fvnd*
384,898
804,476
43.074
145,038
1,189,173
188.110
Orant• p•yabl•
2025
2024
umudlled
Gr￿ts to inslllution9'.
Othar Insb"tulions
Gr•Atér ChBng• Communty Int•r•8t Compony- op•ralong
1,007,105
182,759
14.867
1,007.105
177.426
Gwts p•y¥Ng we lo IndI￿d￿l ¢lhnls vla a parthgr charfty and Ihere are ￿ Indi¥kJual groThts 01>
matèrkg11ty.
22

Financials
GREATER CHANGE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Trust••*
Nong of tho TwBtea recdved •ny r•nwnornUon, or b•n•fil•frcffj th• thartty durtng lh• p•rfod.
Employms
Numb•r of •mploy•••
Yhg av8r8ge monthly nurnbgr of•rnF4oy••8 itsyg¥was.'
2026
2024
unaudlt•d
Numb•r
Numb•r
employm•nt
2026
2024
un•udlted
Wag81 and salArf
Sedal $o¢urity eosts
Other penslon costs
112,054
10,027
3,016
125,097
D•btor•
2025
2024
unaudltod
Amoun¢• tslllng du• wlthln on• ymr
Olh8rd8blor8
Pr8p8yrn8nt8 and 8ccru•d Ineorntr
2.175
10,355
63,838
12.$30
53,838
10 Cr•dltor•'. am•unts lalllni wlthln •n• y••r
202J
2024
un4udlt•d
Not••
D9ft￿ed Incom•
Trado creditor6
Othef cr8dilor8
AttN8L8
12
150,074
10,550
1.103
3.420
4,838
3,000
165.147
7,830
23

Financials
GREATER CHANGE FOUNDATION
NOTES TO THE FINANCIAL STATEMENT8 (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
11 Tax•tlon
Th8 ch8rity 18 8X8rnpI from tax on Income and 98in8 falirvJ ￿7th￿ section 505 of the Tax85Acl 1988 Qf sect￿n
252 of tha Taxatkn of Charg88bl8 Galn8Act 1992 tothe oxtentthat the88 are aPpl￿d to tts tharttat48 objects.
12 D•f•Yrnd In¢(*
2025
2024
Oth•r d•lw•Y Income
tSO,074
Def¢ff¢d IrKwno 41 Induded In the finon¢lo18tsterr￿Ifj ￿ lo110￿..
2025
2024
Defe￿ed I[￿•m8 li Induded wlthln.,
Currenl ma￿11￿.8￿
ISO,074
Movaftwnt• In Iho yg•r'.
Deferred Incorno at 1 Aprfl 2024
R•wJrctt d•lerrnd In the yéor
180,074
D•fe￿Od IrKomo 8t 31 March 202S
160,074
24

Financials
GREATER CHANGE FOUNDATION
MOTES TO THE FINANCIAL STATEklENTS ICONTINUEDI
FOR THE YE•lR EPIDED 31 AIARCH 2025
b•uWd
IAov•rMntlfifund*
Ilov•mMtlnfwd
112401
16.9891
In
27.061
8.386
39.375
1s.orij
15.OLbJ
3.2
0thjtsich•ty•C￿
P•ypd
e.9SB
I2?.￿11
3S.125
130MISI
RIthmr￿ P•nth Lar* T￿1
15.r
)o.c
Hofizon C•r
13,2951
160,(th1
114.6061
26
iasi
14.888
01ft•￿ r•¢*wd Ir¢m
118¢CT. op￿￿￿19r¥I
Tr￿c￿an1 Ltd
LIym9BfidgB
17.$10
13.1051
17.9
27,179
(3Z51
148,¥S21
48.lJO
68.116
AfBhllyFwr•nr•l
7$6
1.036
(7S81
1ly)JOI
RCT
119.920
1009,9101
lOJ.HO
1115MJe}
819.302
25

Financials
GREATER CHANGE FOUNDATION
NOTES TO THE FINAIICIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARGH 2025
14 Unrn•trl¢t•d fvnd•
Th•1• •r• unrttlrfti•d lundi whlch •r• mit1￿1 to lh• th•rity'• m￿ts up •• h)Ih)wi'.
Mov•m•n¢ In fund•- 2024
Mov•m•nl In fvnd•. 2025
In¢rrthln• R••dyr
B*l•rt￿ •¢ h¢bmln¥ R￿4￿r¢•I B*l*nt• •t
1 Aprll 202J •xp•nd•d 1 *•T￿ 2024 mouruB •XP•￿d￿ 31 M4r<h
2025
uMudM•d un•udll•d un•udM•d
uniudknd
Gengral fund
8.287 395,900 143,074} 360.930 361,330 1385,8311326,429
1$ R•l•t•d p•rtytran••¢W•n•
Durir¥J y•4r. th• T￿•t •nt•r•d Inlo ts f01b)￿n9 Ir•ns•don$ %4*h r•l4l•d p•rO••.'
Don•tlon$ of eNII12024.. £14,867) %4Yr¢ pl￿n lo Gr••l•r Ch•ng• Commwty Inl•r•Jt Cornp•ny, • oynmwlty
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26

## **Governance** 

## **The Board of Trustees** 

The Board of the Greater Change Foundation has ultimate decision making power over who and how the Foundation's funds are directed towards. It is also responsible for managing the fundraising efforts of the Foundation. 

Trustees have been recruited from a pool of mentors who provide the Foundation with advice and pro-bono work, allowing us to establish a good working relationship prior to their inclusion as trustees. 


## **Theo Stevenson-Hill, Chair Of Trustees** 

Theo is an established leader within the global financial services with 10 years of technical consulting and management experience. He is currently a Director at BlackRock based in London and brings Greater Change valuable expertise in financial governance. 

## **Sophie Dufouleur, Trustee** 

Sophie is the Head of Commercial for PMI and has brought a deep expertise in marketing and growing a community to Greater Change. She has a Master's in Communication from Ithaca College and a Business degree from Burgundy School of Business. 



**Jonathan Tan, Co-Founder and Trustee** Jonathan started working with Alex on Greater Change in 2017. He was a full time Management Consultant in 2018 at Newton Europe and joined Greater Change full time in 2019. He graduated from Oxford with a BA in Philosophy Politics and Economics. 

27 



## **Governance** 

## **Nilani Sritharan, Trustee** 

Nilani is Group Head of Healthy and Sustainable Diets for Sainsbury’s Plc and has previously mentored a number of social start ups. She brings valuable experience to Greater Change in advocating for better policy outcomes through forming sector coalitions. 



## **Paul Murray, Trustee** 

Paul is an experienced NED and Trustee, with over 20 years international commercial experience at main Board level in logistics, defence, energy, media and technology industries 

He was the Chair of the Audit and Risk Committee at Royal Mail PLC and Trustee and Treasurer at Pilotlight. Paul is an expert in Financial reporting standards, risk governance and strategic oversight. 

Paul is also a major donor to Greater Change, in addition to his work on its Board of Trustees. 

## **Ric Whalley, Trustee** 

Ric is a physicist by background, having always been fascinated by understanding complex systems, but more broadly is passionate developing teams to act on that understanding and make changes that stick. Ric is a Partner at Newton and currently leads Newton’s work in health and integration. 


28 



**Governance John Gapper, Trustee** 

John Gapper is weekend business columnist of the Financial Times. He is among its most senior writers, having served as chief business commentator and associate editor, as well as covering banking, media and employment. 

He is author of All That Glitters, about the fall of Barings bank, and two novels: A Fatal Debt and The Ghost Shift. His many awards include the Harold Wincott prize for financial journalism and the Gerald Loeb award for business commentary. 

## **Alex McCallion, Founder and Trustee** 

Alex began working on Greater Change as a concept in 2017 and has been working in the sector ever since. He graduated from Oxford with a BA in Economics and Management. 


**Greater Change Foundation is a charity registered with the Charity Commission of England and Wales (No. 1188164)** 

**The Foundation is governed by a founding Constitution as a charitable incorporated organisation (CIO) and is recognised by HMRC for the purposes of Gift Aid.** 

**The Foundation can be contacted via its website at www.greaterchange.co.uk or at its working address at Buxton Court, 3 West Way, Oxford, OX2 0JB** 

**The Foundation banks with Barclays and receives accountancy help from BM Connect. Legal registration was performed on the Foundation behalf by Pennington Manches Cooper LLP** 

29 



## **Governance** 

## **Our Structure** 


**Greater Change Community Interest Company** 

Cost Sharing and Licensing Agreement 


**Greater Change Foundation** 

30 



## **Our Contribution to the SDGs*** 


We offer outcomesbased guarantees in all of our contracted work ensuring that our success is tied in lockstep with the success of our clients. 


By preventing homelessness, we prevent premature death, improve mental health and contribute to treating substance abuse issues. 


A high proportion of our staff have lived experience of homelessness. Our minimum pay is local living wage and we have capped the wage ratio of our highest paid employees to at most 14x of our lowest paid employee. 


Of all the people we have helped in 2022/2023, 31% of our clients were from BAME backgrounds and 45% of our clients were female, which is high than the national average of 38% of all homeless applicants being female. 

31 

***For more information on SDGs: https://sdgs.un.org/goals** 



## **Reserves Policy** 

**Greater Change has never aspired to keep a large amount in reserves as we are still a small, growing organisation. As much as is reasonable is committed towards growth and towards helping our clients take large steps out of homelessness.** 

**The purpose of the reserves policy is to ensure that Greater Change is able to always help extremely urgent client cases rapidly and to ensure that we can steadily help clients in the event of poorer fundraising returns in any particular period of time.** 

**As a secondary goal, we want to avoid any hysteresis across our partnerships resulting from overspending. We believe that Greater Change is an organisation that can sustainably help clients, however, if funds were to be run down overly quickly, what would result is a period of stagnation where we are unable to help clients for significant periods of time, which would damage partnerships and potentially harm future work even as funds were to become available again.** 

**The Policy** 

**The Trustees aim to maintain free reserves equivalent to three to six months of projected total expenditure.** 

**Based on current forecasts, total monthly expenditure is approximately £99,000, comprising operational costs of around £15,000 per month and funds distributed directly to clients of approximately £84,000 per month. On this basis, the target level of free reserves is between £297,000 and £594,000. As at the reporting date, Greater Change holds free reserves of £326,429, representing just over three months of expenditure. The current monthly expenditure level reflects growth in the charity’s activities, having increased from approximately £60,000 per month in the previous year, and demonstrates the expansion of both operations and client support.** 

**The Trustees review management accounts on a quarterly basis and approve budgets covering each forthcoming six-month period. Should reserves fall below the minimum threshold of three months’ expenditure, all Trustees would be notified immediately and a Trustees’ meeting convened to review the position and agree appropriate actions.** 

32 



## **Reserves Policy - Approach** 

**When determining an appropriate free reserves policy for the Company we considered the philosophy we applied to our work and how we would respond in various scenarios, with the free reserves being kept ultimately to simply enable the execution of these various plans.** 

**The important problematic scenarios we have considered are:** 

1. **We face some temporary cash flow issues: We need to be able to see this coming well ahead of time to not run out of cash before we can take urgent action such as taking on a business loan or significantly cut costs to extend the runway until additional revenue, grant or investment funds become available** 

2. **Our runway runs out, even as we grow: In this scenario, we would want to avoid any significant damage to our infrastructure, relationships and systems caused by a sudden stoppage of services. Actions we might take would include the slowing down of any growth-related spend in order to buy time for revenue or investments to come in.** 

3. **We experience waning traction: In this absolute worst-case scenario, where our revenue is coming in far below expectations and/or the impact of the work starts to become less compelling, we would have to consider temporarily furloughing staff until such a time when we believe activity will pick up again or winding up the company entirely. In both cases, we would need time to explore additional funding options or to fund administrative staff to fully distribute any remaining client funding and perform a final round of impacting to fully evaluate our work.** 

**In all of these 3 scenarios we need a range of time between 3 - 6 months in order to fully realise our change in direction in order to allow us to either keep the company afloat or to meaningfully distribute the remainder of the assets in a maximally impactful way.** 

33 



## **Grant Making Approach** 

**Our general philosophy on grant making is extremely simple: We want to be very selective about the partners that we work with and trust their professional expertise and experience.** 

**We do always apply some basic financial sense checking principles to ensure that plans for the usage of the grants made are sensible and efficient. However, this is always done with the client and their case worker and we believe that this works because:** 

**1) The frontline support workers we partner with are amongst the best in the country and are the best way for us to understand the client and their situation. In other words, there is no better way to do any KYC check than to speak to the client's case worker.** 

- **2) Putting clients in the driving seat means that they are more bought in and will work harder at actualising their plan.** 

**3) Personalising the budgets and grants means that clients get exactly what they need, when they need it. By eschewing any pre-fixed constraints, we are able to flexibly provide the most suitable support for each and every client.** 

34 



## **Grant Making Policy** 

## **The Process:** 

- **1) Support workers from partner charities fill in a client referral form to explain the details of the case to us** 

- **2) The form will request details on the current situation, the ambitions of the client and plan to get out of homelessness** 

- **3) Greater Change sense checks the plan and ensures that the costs described are accurate.** 

- **4) If there are any parts of the application that seem to warrant additional thought, a member of the Greater Change team will speak to the support worker in question to understand more detail and assist in the planning process.** 

- **5) Once the story and plan are confirmed, the client's campaign is uploaded to our site, provided that we are given consent from clients to share their stories.** 

**6) Once the funds have been raised, they are transferred to the partner charity or a nominated third party to be spent in accordance with the plan. If the situation were to change in any way, support workers need only pick up the phone to discuss the necessary changes with Greater Change.** 

**7) If the client's case is unsuitable for online public fundraising (due to security concerns, case urgency or simply a lack of complete comfort) they are allocated urgent funding from a central flexible pot of funding to enable clients to move quickly.** 

35 



## **Fundraising Approach** 

Greater Change is deeply appreciative of the individuals, partners, trusts, organisations and funders who choose to support our work. Their generosity enables us to provide timely and practical financial support to people facing severe hardship, and we recognise the trust placed in us whenever a donation is made. 

While we are prepared to challenge existing systems and practices where they fail the people we support, our approach to fundraising is firmly grounded in integrity, transparency and respect. 

Securing the funding required to deliver our mission is an ongoing responsibility. The Trustees are committed to ensuring that all fundraising activity is carried out lawfully, ethically and in line with recognised best practice. We seek to meet not only the requirements of fundraising regulation, but also the standards that our beneficiaries, donors and wider community would reasonably expect of a charity working with people in vulnerable circumstances. 

We recognise our duty to protect and respect our supporters, as well as to be open about how funds are raised and used. To support this, Greater Change has an Ethical Fundraising Policy and a Donations Acceptance Policy, which set out our approach to ethical 

considerations, social responsibility, and the acceptance or refusal of donations. 

We have not received any complaints relating to fundraising during the reporting period, and we monitor our fundraising activity internally to ensure it remains aligned with our values. 

Greater Change is registered with the Fundraising Regulator and is committed to maintaining high standards in all fundraising activity. 36 



## **Equalities and Diversity Policy** 

## **Statement of Intent:** 

**1) Greater Change is committed to recognising and valuing difference and ensuring fairness and equality; and recognising and seeking to redress inequality and disadvantage wherever possible.** 

**2) As a service provider to vulnerable and homeless people and as an employer, we aim to be empowering, supportive and to offer as much flexibility as possible in order to help each individual realise their full potential as service users of Greater Change and as employees. We believe that this approach is key and central to promoting and developing diversity.** 

**3) We recognise that true diversity in our community and within the staff group also involves a willingness to act, where necessary, aimed at combating the effects of existing barriers to fair and equal treatment. Within society certain groups are unfairly discriminated against – for example on the grounds of race, gender or gender identity, disability, sexuality, age and class - and are, as a result, disadvantaged in terms of their access to services and employment. We will, where appropriate and where possible, seek to positively redress the effects of this discrimination. Any action we take will be legally compliant and consistent with our approach of making users and staff feel valued and respected.** 

**4)We also recognise that many people have suffered disadvantages and barriers to progress for all kinds of reasons related to them as an individual and not because of their personal characteristics.** 

37 



## **Equalities and Diversity Policy** 

**5) This may include homelessness, employment economic or domestic circumstances, involvement with the justice system. For this reason, our commitment to diversity includes being supportive, positive and open minded.** 

**6) Our commitment is firmly founded on the belief that: to best support our diverse clients and users and to offer services that are personal and adaptable, we should have a diverse staff team that will respond to our clients as individuals; to attract, retain and motivate the most talented staff, we need to reach out to all sections of the community; provide a working environment in which everyone feels valued, respected and able to contribute.** 

## **Our Policy:** 

**1) To make our commitment a reality, we will develop and regularly review strategies and plans of action. Greater Change recognises that to achieve a good level of diversity our action plans will need to cover both long and short-term actions.** 

## _**Actions may include:**_ 

- **2) Clear and consistent hiring policies that build a diverse team with the right skill sets and ability to empathise with clients: Ensuring management support for actions and objectives set by all staff that promote diversity and inclusion;** 

**Monitoring outcomes amongst staff and clients with regards to diversity metrics to ensure that the desired outcomes beyond simply promoting meetings or thought.** 

38 



## **Equalities and Diversity Policy** 

## _**Scope of the Policy:**_ 

- **3) Greater Changes Policy on Diversity & Equality applies equally to the following areas:** 

   - **the undertaking of any task for, or on behalf of, Greater Change, particularly the provision of our services;** 

   - **the support and advice we provide to clients and customers and our relationship with customers;** 

   - **the recruitment, employment, training and career development of staff;** 

   - **and the recruitment, training and activities of the Board and other volunteers; our governance arrangements; the behaviours of staff, volunteers and Trustees, who are always expected to actively uphold and promote the goals and requirements set out in this Policy.** 

**This policy does not form part of any individual employee’s contract of employment with Greater Change.** 

39 



## **Equalities and Diversity Policy** 

## _**Objectives of the Policy:**_ 

**4) Our policy is intended to set out the general framework through which we seek to ensure: full consideration of diversity and equality issues in the design of new projects, services, and other initiatives; an environment in which our clients, staff, Board members and volunteers feel valued and respected and are:** 

- **treated fairly** 

- **recognised and supported on ability and merit for their contributions** 

- **given equal access to opportunities for growth and advancement** 

- **protection of our members, staff and Board members against harassment, discrimination and intolerance** 

## _**Responsibility for Implementation:**_ 

- **5) Day to day responsibility for implementation and monitoring lies with the Chief Executive and the Head of Departments.** 

**The Greater Change Board is ultimately accountable for oversight and assurance regarding the implementation of our policy, strategy and plans and for monitoring their effectiveness.** 

**All Greater Change staff have an obligation to ensure the positive application of this policy in all aspects of their own work. Wilful breaches of the Policy will be treated as a disciplinary matter.** 

**To support implementation, all staff and Trustees will be offered training, support and appropriate resources (such as guidance and information).** 

40 



## **Equalities and Diversity Policy** 

## _**Monitoring, Evaluation, and Accountability:**_ 

- **6) The leadership team will report as required, but at least annually, to the Board on the implementation of diversity in relation to both services and employment. The reports will be based on both** 

**quantitative and qualitative data and will monitor and evaluate:** 

- **performance against numerical benchmarks** 

- **progress in implementing an action plan against agreed objectives and timescales** 

- **the effectiveness/outcomes of our strategy, policy and** 

- **procedures in promoting diversity and equality for clients and staff.** 

**In addition, we will measure staff and client perceptions of our effectiveness in promoting diversity through qualitative monitoring tools such as:** 

- **exit interviews** 

- **data and diversity related analysis of access to, use and the impact of our services** 

- **a review of our diversity statement and policy to ensure it remains fit for purpose** 

- **continuous engagement with staff and clients to ensure action plans remain relevant** 

- **continuous engagement of Board as owners and promoters of the statement and policy.** 

41 



## **Donations Acceptance Policy** 

## **External Funding Acceptance Principles:** 

- **Greater Change will not accept funding from sources that may have been illegally obtained or have a close association with illegal or unethical activities that could harm the organisation's reputation. The organisation will maintain high ethical standards in all funding-related decisions.** 

- **External funding that compromises Greater Change's independence, such as influencing program eligibility criteria, participant records, or decision-making processes, will not be accepted.** 

- **Funding should align with Greater Change's mission to alleviate homelessness and support individuals in need. It should contribute directly or indirectly to the organisation's programs and initiatives.** 

- **Donations derived from illegal activities or those that could compromise Greater Change's impartiality, integrity, or reputation will not be accepted.** 

- **Greater Change will consider the financial implications of accepting donations, including the costs associated with processing and managing funds. It will ensure that accepting a donation does not impose an undue financial burden on the organisation's operations.** 

- **Greater Change welcomes in-kind donations of goods, services, or expertise that are relevant to addressing homelessness and can be effectively utilised to support its programs. Donations should be in good condition and meet quality standards.** 

42 



## **Donations Acceptance Policy** 

- **Greater Change will accept donations with specific restrictions or conditions that align with its mission and operational capacity. The organisation will ensure that restricted funds are used exclusively for the intended purpose.** 

- **Greater Change respects the privacy of its donors and will keep their personal information confidential. Donor information will be used only for donation-related purposes unless explicit consent is obtained.** 

- **Greater Change will maintain transparency in its funding processes and provide accurate reporting on how funds are utilised. The organisation will be accountable to its donors, stakeholders, and the communities it serves.** 

- **External funding acceptance will adhere to relevant laws, regulations, and best practices. Greater Change will ensure that all funding decisions align with its governance policies and procedures.** 

## **External Funding Acceptance Criteria:** 

**Those who consider funding proposals in the scope of this policy at all levels must keep the External Funding Acceptance Principles in mind and must additionally weigh the benefits and risks of each proposed funding. This should include the possibility that acceptance of the funding would be counter to the interests of Greater Change or would involve an unacceptable risk of reputational damage to the charity on account of any one or more of the following:** 

43 



## **Donations Acceptance Policy** 

1. **Where the activities of a funder or the source of the funds are in conflict with the objectives and agreed policies of Greater Change;** 

2. **Where conditions imposed by a funder run counter to standard practices in the social enterprise sector or would impose on the charity objectives contrary to those already agreed upon by the organisation;** 

3. **Where the offer of support would compromise the independence of Greater Change and is dependent on fulfilling conditions that are perceived to be too onerous or counter to the charity's objectives;** 

4. **Where acceptance would be unlawful or otherwise counter to the public interest;** 

5. **Where a funder has had a compromised reputation, and the behaviour that led to the funder's reputation being compromised has not clearly ceased or the reputation remains compromised.** 

## **Risk Criteria to be Considered in Due Diligence:** 

**The following risk criteria will be considered in external funding due diligence within the scope of this policy. The level of risk of proposed funding will be determined by the research findings on the following issues or industries:** 

- **Illegal conduct e.g. UK Bribery Act 2010, Proceeds of Crime Act 2002, the Terrorism Act 2000 and the Money Laundering Regulations 2007** 

- **Other financial misconduct e.g. tax evasion, insider trading, corruption** 

44 



## **Donations Acceptance Policy** 

- **Human rights abuse e.g. child labour, human trafficking, poor working conditions** 

- **Sexual misconduct** 

- **Terrorism or political engagement with controversial, antidemocratic, corrupt or human-rights abusing regimes or sanctioned regimes** 

- **Sustainability impact and environmental damage e.g. deforestation, toxic waste** 

**Ultimately, the decision to accept or reject a donation has to be evaluated and decided on by Trustees. Trustees will be have to consider:** 

- **Whether accepting a donation does not create a conflict with the values and mission of the organisation which is likely to result in reputational damage with current and potential supporters** 

- **If a supporter is a vulnerable person and lacks the capacity to make a decision** 

- **A scheme of delegation for the Foundation’s staff to have some authority to practically deal with smaller and/or uncontroversial donations** 

## **When Rejecting a Donation:** 

**In order to pre-empt possible disputes and/or negative publicity in complex or potentially difficult cases, trustees of charities registered in England and Wales may wish to apply to the Charity Commission for an order authorising the charity to refuse a donation.** 

45 



## **Donations Acceptance Policy** 

**Circumstances where such an order might be of particular benefit are those where:** 

- **it is not immediately clear what the ‘best interests of the charity’ are in relation to the proposed donation large sums of money or property are involved the trustees have reason to believe that a decision taken by them might be subsequently challenged in the courts the trustees wish to use the ‘authority’ of a Charity Commission order to mitigate against the threat of negative publicity engendered by the refusal of a donation** 

**For further guidance, the trustees of Greater Change will refer to Institute of Fundraising guide on Accepting and Refusing - - Donations. https://ciof.org.uk/IoF/media/IOF/Policy/iof acceptance - - - - - - - - - - refusal and return a practical guide to dealing with donations = (5).pdf?ext .pdf** 

46 



## **Environmental Policy** 

**Greater Change is committed to minimising the impact of our activities on the environment. We acknowledge that many of our activities may not have a large direct footprint, but are nevertheless keen on reducing the impact of our work wherever possible. This statement covers our core activities, the mode of support provided to clients and our remote and on-site operations. The key points of its strategy to achieve this are:** 

## **Management:** 

- **Integrate environmental concerns into all planning and design decisions and maintenance and management of properties Continually seek to measure and improve environmental performance** 

- **Consistently support people experiencing homelessness out of homelessness via paths that produce a lower environmental footprint. Eg. Encouraging the use of public transport instead of cars wherever appropriate.** 

## **Training and Awareness:** 

- **Raise staff and volunteer awareness of environmental issues and promote individual good practice through briefings and periodic team discussions** 

## **Procurement:** 

- **Require suppliers to provide goods and services with the minimum adverse environmental impact** 

- **Ensure that goods and materials purchased comply fully with UK government and EU legislation and recognised environmental best practice** 

47 



## **Environmental Policy** 

## **Utilities and Natural Resources:** 

**Make efficient and environmentally responsible use of energy, water and other natural resources** 

## **Waste** 

- **Minimise waste by ensuring all operations are as efficient as possible** 

- **Actively promote re-use and recycling internally, with suppliers and clients we support** 

## **Transport in the Course of Work** 

- **The use of cars for single occupant journeys is discouraged; staff will be encouraged to use public transport, cycle and walk to work unless there are safety concerns** 

## **Responsibilities:** 

- **All staff and volunteers will be expected to familiarise themselves with this policy and environmental issues relevant to their work streams and take measures to minimise** 

- **environmental impact through simple measures** 

- **Managers and heads of department will ensure that environmental issues are integrated into the planning and decision-making process** 

## **Reporting** 

   - **Communicate environmental performance both to the board on a regular basis as well as reflecting on cases of poor practice during Senior Leadership Team meetings** 

- ***If anyone would like full copies of these policies or of the** 

**safeguarding policy or information security policy, please be in touch and we can provide them*** 

48 



## **Our work would not have been possible** 

## **without the support of our trusted supporters** 

- 180DC 

- Herbert Smith Freehills 

- Hogan Lovells Horlock Trust 

- Landaid 

- Newton Foundation 

- National Lottery Community Fund 

- Oxford University Innovation Lab 

- PA Consulting 

- Pro Bono Economics 

- Richmond Parish Lands Charity The Albert Hunt Trust 

**And valued partnerships with our** 

## **Local Authority and Charity partners** 

- Aspire Oxfordshire Basildon Borough Council Castle Point Borough Council Changing Lives Housing Trust Citizens Advice Connection Support 

- Croydon Borough Council 

- Croydon Somewhere Safe to Stay Hub Croydon Reach (Thames Reach) Evolve Housing 

- Forward Trust Galop 

- Glass Door Homeless 

- London Borough of Hounslow Hounslow Reach (Thames Reach) 

- Look Ahead 

- Motivated Minds 

- New Horizon Youth Centre Paradigm Peabody 

- Response 

- Richmond Foundation 

- Riverbank Trust 

- RUILs 

- Safer London 

- Shelter 

- St. Mungo’s 

- Vineyard Community 

- Your Place 

49