The Coco Joelle Foundation Report and Financial Statements Year ended: 31 December 2021 Charity No: 1189609 1 ## **Reference and administrative information** ## **Trustees** Mrs Lisa Seymour, Chair of Trustees Mrs Melissa Fife Mrs Gemma Watson Dr David Cotton ## **Trust Administrator** Mr John White MBE ## **Registered Office** Suite 44 LCLB 95 Mortimer Street London W1W 7GB ## **Charity No: 1189609** ## **Bankers** Coutts & Co 440 Strand London WC2R 0QS ## **Report of the Trustees for the year ended 31 December 2021** The Trustees present their annual report and financial statements of the Foundation for the year ended 31 December 2021. The financial statements have been prepared in accordance with the Foundation’s trust deed, the Charities Act 1993 and the Statement of Recommended Practice: Accounting and Reporting by Charities published in 2005. ## **Structure, Governance and Management** The Coco Joelle Foundation (CJF) is a registered charity, number 1189609, and is constituted under a constitution dated 18 May 2020 establishing it as a Charitable Incorporated Organisation (CIO). It was established by Dr David Cotton and his daughter, Mrs Lisa Seymour as a grant-making foundation whose objects are summarised as: - The relief of those in need by reason of ill-health, disability, financial hardship or other disadvantage; - The advancement of environmental protection or improvement; - Such other exclusively charitable purposes as the Charity Trustees decide. 2 The management of the Foundation is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution. All trustees were appointed for an initial period of one year, extended to three years by a resolution passed by the trustees. The trustees were selected with regard to the skills, knowledge and experience needed for the effective administration of the CIO. There are no sub-committees and all decisions are agreed by a majority of the trustees who have signified their agreement. Since its establishment, and given the restrictions due to the Covid-19 pandemic on conducting in-person meetings, all decisions regarding the Foundation have been conducted by email, phone or by virtual meeting. ## **Grant Making Policy** The Foundation has established a grant making policy which will distribute funding to causes according to principles which include: - All organisations applying must be registered with the Charity Commission - All applications must be to support work that is wholly charitable in purpose - The grant will help the Foundation deliver against its charitable objects - The organisation applying can demonstrate credible and skilled leadership as well as strong sector understanding - The organisation should show a committed approach to measure and evaluate the grant/s provided and report in detail on the expenditure of the grant at regular intervals throughout the funding period In addition to this policy, The Foundation is prepared to work in partnership with other organisations to fund initiatives beyond the scope of a single organisation ## **Charities Aid Foundation Donor-Advised Fund** In January 2021, on the advice of the Foundation’s bankers, the Trustees elected to link the Coco Joelle Foundation to a Donor-Advised Fund (DAF) administered by the Charities Aid Foundation (CAF). As well as being tax efficient, given that the majority of the Trust’s funds come from the US, this has greatly reduced the administrative burden on the Trustees and Trust Administrator as all accounting for funds and grants is administered by CAF. 3 The impact on grant disbursement is minimal. All beneficiaries, while approaching Coco Joelle trustees in the first instance, now undergo an eligibility check from CAF who then make grants based on recommendations of the Coco Joelle trustees. A summary of this process is on the Coco Joelle website and is explained to potential beneficiaries when they first approach the Foundation. This is reproduced below: _The Coco Joelle Foundation partners with the Charities Aid Foundation (CAF) to facilitate its grant making. If you are nominated by our Trustees to receive funds, your information will be given to CAF who will send you a Grant Eligibility Application (GEA) form to complete, which should be returned to the team at CAF American Donor Fund. Your eligibility will then be processes and, upon approval, the grant payment will be made to you by CAF American Donor Fund. You will subsequently be contacted by CAF within 12 months who will ask you to complete a short grantee report, as per their terms and conditions._ ## **Grants Made** Having established its partnership with CAF, the Coco Joelle Foundation authorised grants of £281,707 in 2021. Its first grant was made to James’ Place in March 2021, a suicide prevention charity providing help to young men experiencing suicidal tendencies. Below is a summary of all grants authorised in 2021. **James’ Place (Charity No. 1121891).** A grant of £122,000 to fund two therapists and to enhance the Charity's ability to communicate with students in London. **Clapton Common Boys’ Club (Charity No. 1121347).** A grant of £8,985 to fund a series of skills-based training sessions for children with special educational needs. **The Southmead Project (Charity No. 1076617).** A series of grants totalling £63,000, to this Bristol based organisation, to fund a counsellor for two years. **PAPYRUS (Charity No. 1070896).** A grant of £27,600 to fund a nationwide programme of suicide prevention training. **The Connection at St Martin-in-the-Fields (Charity No. 1078201).** Grants totalling £25,000 towards the Move-On fund to assist those leaving St Martin’s House to find private rented accommodation. **Caritas Anchor House (Charity No. 1147794).** A grant of £25,000 to enable residents to move into private rented accommodation. 4 **St Mungo’s (Charity No. 1149085).** Trustees authorised a grant of £5000 to the St Mungo’s Christmas appeal **.** **Crisis (Charity No. 1082947).** A grant of £5000 was made to the Crisis Christmas appeal. With the exception of the two Christmas appeals, where grants were made in response to the appeal, trustees instituted a system of interviewing either in person or, more commonly by Zoom, those charities bidding for funds. This allows potential beneficiaries the opportunity to make their pitch and for Coco Joelle trustees to discuss and reflect on this before making a decision on the scale of the grant. ## **Future Plans** With the grant making procedure now established and well-practised, the Trustees continue to explore other areas for assistance. Given the momentum generated by the COP 26 Conference held in Glasgow in November 2021, there is impetus to lend support to a number of environmentally linked charities; these will be explored further in the next 12 months. Trustees are also keen to develop further their relationship with those organisations that are most closely aligned to the Foundation’s objectives. As such, there are plans to provide further support to James’ Place, the Connection at St Martin-in-the-Field and Caritas Anchor House. All of these will be subject to meetings with staff supported by visits to their premises. Approved by order of the members of the Board of Trustees on September 2022 and signed on their behalf by: ## **Lisa Seymour Chair of Trustees** 5 CHARITY COMMISSION FOR ENGLAND AND WALES Receipts and payments accounts CC16a For the ptrlod from Section A Receipts and payments Unrestrlcted funds to thu Marest Endowment funds lothv ntrw•$t £ Total funds Last yoaf R•$trlcted funds lo r•arMt t toth• r*irut £ lo th• M•r•st t A1 Rec81 t5 Sub total(Gross incom& forAR) 363 303 A2 A88et and Invè8tment •ale•. t8bl8 Sub total Total reG•lpts 363 A3Pa m•nt$ Sub tot•1 361 361 A4 Asset and Invostm•nt PUTchB808,18•e 18blel Sub total Totalpaymenl$ 361 361 Net of rnceipts/(p8ymonts) AS Transf¢rs between fund8 A6 Cash funds la8t year end Cash funds this year end CXX R1 accounts ISSI 2310912022 Section B Statement of assets and liabilities at the end of the period Categories Unrestri¢ted funds to nEar06t £ Detail$ Restricted fund¥ Endowment funds ¢0 t*arosl £ B1 Cash funds Totalcash funds un￿StrIcte(l funds lo nèarest £ Restrfcted funds Endowment fund5 to nBarest £ Details B2 Other mon•tary assets to fvarvst £ F￿d to whlch asFet bèl Currèrrt v41 loptiorwll Details B3 Investment assets Fw*l to whlth 48Jet Delai15 Cost lopt1r￿lI Currènt Value loptionall B4 Assats retaingd fty th• charlty's own use Fu￿* tv %Yhlch 118ts11ty relat*$ endu Details B5 Liabilities lupborAII S￿ned by one orlwo tmsitres on behalf of all the INsiÈes Sunature Print Name Oale of approval LISA SEYMOUR CCXX R2 ac¢ounls ISSI 2310912022