**TEV UK ANNUAL REPORT 2022 1 January 2022 - 31 January 2022**
## **ABOUT US**
The main objective of TEV UK is to provide access to high quality education for young Turks who are academically talented but are in need of financial support. This financial support enables them to pursue their studies at undergraduate institutions in Turkey, as well as graduate studies at selective educational institutions in the UK.
Our beneficiaries are young Turkish people. By supporting students in this way, we hope to improve the quality of education
## **FOUNDATION INFORMATION**
TEV UK is a CIO (Charitable Incorporated Organization) registered by Charity Commission for England and Wales with the registration number 1193047 as of 8 January 2021.
Turkish Education Foundation UK (TEV UK) Haysmacintyre Thames Exchange 10 Queen Street Place EC4R 1AG info@tev.org.uk
## **TABLE OF CONTENTS**
Board of Trustees and Development Committee 1 Message from the Chair of Trustees 7 Head of Development Committee’s Introduction 9 The Challenge 11 The Impact 21 TEV UK - TEV Cooperation 31 Fundraising Initiatives 35 Partnerships 43 Governance & Financial Review 53
**We make a living by what we get, but we make a life by what we give. Winston Churchill**
**BOARD OF TRUSTEES AND DEVELOPMENT COMMITTEE**
1
2
## **BOARD OF TRUSTEES**
## ERGUN ÖZEN, CHAIR OF TRUSTEES
Ergun Özen was born and raised in Turkey, studied in the United States, and led a successful career in the banking sector in Istanbul. In his leadership position, he became a strong advocate for the cultural and educational organisations within Turkey. Özen retired in 2015 and moved to London, where he continues to nourish and inspire a forward-thinking relationship between his homeland and the UK. As a mentor to many and a father of two young adults, he knows how important it is to have opportunities for further education.
## ŞULE ARINÇ, TRUSTEE AND HEAD OF DEVELOPMENT COMMITTEE
Born and raised in Istanbul, Şule Arınç graduated from Bosphorus University with a BA degree in Economics, followed by a successful career in finance in various European banks. After moving to London in 2004 she founded her interior design company, Atelier T-delight Interiors. As a woman who grew up in a patriarchal society and worked many years in a male-dominated finance world, Arınç thinks providing equal opportunities to both boys and girls alike, is the key to future enlightenment as a society. She believes that TEV UK can thrive in providing the merit-based access to world class education for Turkish students and in empowering them to be successful in an ever-changing world. She has always been passionate about giving back to her beloved country and TEV UK is the ideal conduit to achieve this dream on a global scale. Arınç is married and a mother of three.
SEZAİ TAŞKENT, TRUSTEE
Sezai Taşkent is Member of the Board of STFA Group. He was born in 1967 in London. He graduated from Aiglon College (Switzerland) and University College London (UCL) with a BSc degree in Economics. He holds masters degree in Executive MBA (Koç University) and attended Executive Management Program at Harvard University. Taşkent has been serving as Vice Chairman of the Boards of Directors of STFA Group and member of various STFA Group companies since 1998.
DALINÇ ARIBURNU, TRUSTEE
Dalınç Arıburnu is the co-founder of Centricus Asset Management. Previously, Dalınç was a senior partner and global co-head of fixed income, currency and commodity sales at Goldman Sachs. Dalınç served as a member of Goldman Sachs’ European Management Board, Firmwide Partnership Committee and Securities Division Global Executive Committee. He also represented Goldman Sachs globally as a board member of the Fixed Income, Currencies and Commodities Markets Standards Board (FMSB). Formerly a 1991 TEV Scholar himself for his master’s degree in the United States, Dalınç is married with three children and lives in London. He has been involved in several charities over the years in particular to support underprivileged children education, accommodation and health.
3
## **DEVELOPMENT COMMITTEE**
## **A BIG THANK YOU**
## **TO RS OUR VOLUNTE**
Partnerships Dr. Hasan Turunç
New Generation Fundraising Zeynep Köseoğlu
Partnerships Okşan Sanon
New Generation Fundraising Ayşe Margossian
Partnerships Can Bedii Yücaoğlu
Events Management Başak Tarman
Finance and Compliance Tijen Gümüşdiş
Events Management Yosma Semerci
Finance and Compliance Alev Bosut Berrak
Events Management Gülin Sevinç
Digital Ecosystem Altuğ Özgenlik
Corporate Fundraising Halil Emecen
5
6
## **MESSAGE FROM**
## **THE CHAIR OF TRUSTEES**
## **THE ULTIMATE GIFT IS ACCESS TO EDUCATION**
As the founder Trustees of Turkish Education Foundation UK (TEV UK), we share a common belief; the ultimate gift one can give to a young person is the access to education. After a thorough preparation period, we set up TEV UK in the beginning of 2021 to turn our shared belief into concrete achievements.
Both our hearts and minds tell us that a sustainable and better future can only be achieved with well-educated young minds. Not only the young person who continues his or her education with the help of scholarships will benefit from this future but also their country and the world at large will flourish. The future leaders who will carry science, world peace and the fight against poverty to the next level will come from these young minds. Our hearts are longing to see our scholarship holders among those global leaders.
We have partnered with Turkish Education Foundation (TEV) in Türkiye to reach out to financially disadvantaged young Turkish people who are academically talented and yearning to continue their education. TEV is one of the most respected foundations of Türkiye that has been successfully supporting the education of young people in need in the last 55 years of the Republic. TEV is the largest provider of support, scholarships, and grants to Turkish students, following the Turkish government. We are honoured to be in a strong partnership with this highly esteemed and effective institution.
I would like to extend my heartfelt thanks to all our donors, volunteers, friends, and partner schools whose collective contributions helped TEV UK make a very good start to its endeavour. We have so much more to achieve, and we believe we will do it by continuing to bring our hearts, our minds, and our efforts together for education.
## Sait Ergun Özen
Chair of Trustees Turkish Education Foundation UK (TEV UK)
8
7
## **HEAD OF DEVELOPMENT COMMITTEE’S INTRODUCTION**
## **TEV UK SUCCESFULLY LAUNCHED IN 2022**
2022 was a pivotal year for TEV UK as it saw us extend bursaries to our first roster of graduate students whilst also witnessing our inaugural fundraising efforts on the back of the successful launch of the charity. It gives me great pleasure and pride to announce that our first group of 3 scholars have excelled both in their academic ventures as well as in their mature approach to embracing the opportunities available to them in their respective institutions in the UK.
We are incredibly grateful to the Turkish Embassy in London for hosting the launch of TEV UK in March 2022. Our ambassador’s endorsement as well as the unwavering support of his team provided us with the vital platform needed to be able to launch TEV UK with a great degree of visibility. The event brought together a huge community of more than three hundred attendees which allowed us to communicate our goals and garner amazing support from the Turkish community in the UK.
On the back of this successful launch, we kickstarted our fundraising efforts through multiple channels. An important source of funds for TEV UK has proven to be its generous donors who have pledged to donate over multiple years. The long-term nature of these donations has already allowed us to forge long term partnerships with distinguished educational institutions such as Oxford University and Imperial College. In this way they are vital for the long-term success of TEV UK.
Additionally, May 19 saw the successful launch of the first of our annual online fundraising auctions. The auction was a fun way to connect with our supporters whilst also becoming a significant source of funds - raising £60,000 thanks to the prizes donated by businesses across Türkiye and the UK and the generosity of our bidders.
We ended the year with an informal lunch which was attended by both our supporters as well as two of our scholars Nursena and Emin, whose words you’ll be able to read in the following pages. I hope readers will agree with me on how thoughtful, brilliant, and mature they are. Their words are a testament to how important access to graduate education is and how vital the efforts of TEV UK are.
I am writing this right after attending interviews for our next roster of scholar. As such, it has given me great satisfaction to reflect on just how far TEV UK has come. The work and commitment has been hugely rewarding and I am incredibly thankful to the dedicated work and support of everyone who has contributed to the success of TEV UK this year. We look forward to another busy and fulfilling year and I hope you will be inspired to connect with us upon reading our annual report.
Şule Arınç
9
10
Trustee and Head of Development Committee Turkish Education Foundation UK (TEV UK)
## **THE CHALLENGE**
**If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people. Chinese Proverb**
12
11
## **LEVELLING THE PLAYFIELD WITH SCHOLARSHIPS**
Türkiye has a high share of youth in its population. According to Turkish Statistical Institute (Turkstat), in 2022, the share of youth (15-24 years old) population in Turkish population was 15.2%, much higher than the EU average of 10.5%. However, it is a great challenge to keep this young population in education past secondary school years.
According to Turkstat’s data, while the net enrollment rate was 89.7% in secondary education in 2021/22 academic year, the enrollment rate in higher education was 44.7%. A large part of this drastic fall is due to socio-economic reasons as the young individuals are forced to leave their education to start contributing to their family income or at least reduce the burden on the family. TEV UK, through scholarships, aims to provide access to high quality education for young Turks who are academically talented but are in need of financial support.
13
14
**SCHOLARSHIPS FOR STUDENTS IN TÜRKİYE**
## **HIGHER EDUCATION SCHOLARSHIPS**
Candidates enrolled in Turkish state universities, who are not already receiving a grant from any other public or private institution, are eligible for application.Evaluation of the selected students’ progress is based on information collected from the relevant higher education institutions every year. The scholarship grant continues until the student graduates from the relevant higher education institution. Scholarship grants are paid for nine months of every academic year.
15
16
## **MERIT-BASED SCHOLARSHIPS**
Students who rank in the first 5,000 in the University Entry Examination are granted this scholarship which is intended to support the development of future leaders.
Candidates are selected depending on the results of the General Aptitude Test, the Young Leader’s Competence Test, and the Composition Examination. Furthermore, they are assessed in an interview by a jury of faculty members from the respective subjects.
Students from Engineering/Architecture, Health Sciences, Administrative Sciences, Basic Sciences, Social Sciences, and Law fields are eligible to apply for a Merit-Based Scholarship. TEV UK also grants Merit-Based Scholarship in various fields of the arts. Students from Piano, Harp, Guitar, String Instruments, Wind Instruments, Percussion Instruments, Painting, Sculpture, and Graphic Arts departments are eligible to apply for a Merit-Based Scholarship after their first year. Candidates are required to have a minimum grade-point average of 80 or more and are assessed via an interview by respective experts and faculty members.
## **SCHOLARSHIPS FOR STUDENTS UNDER PROTECTION**
Higher education scholarships are granted to vulnerable students under protection.
## **SCHOLARSHIPS FOR STUDENTS WITH SPECI AL NEEDS**
Scholarships are granted to students with special needs. Additional placements are offered for students with disabilities and are given priority.
## **NATURAL DISASTER SCHOLARSHIPS**
TEV grants scholarships to children who have lost a parent in a natural disaster, such as earthquakes, floods and mine explosions to continue their education.
## **SELECTIVE SCHOLARSHIPS**
TEV UK will additionally contribute to the following special scholarships currently granted by TEV.
17
18
## **SCHOLARSHIPS FOR GRADUATE STUDIES IN THE UK**
TEV UK provides scholarships for selected graduate programmes at the leading UK universities. Currently, TEV UK has partnership agreements with the University of Oxford, Imperial College London and University of Cambridge.
In 2022/23 academic year, TEV UK has provided scholarships to three students to pursue graduate studies in the UK.
20
19
# **Education breeds confidence. Confidence breeds hope. Hope breeds peace. Confucius**
## **THE IMPACT**
21
22
I was a student in Ankara, Türkiye completing my Engineering degree. Like all of my high school colleagues, I had to choose between being an engineer or a doctor. They were the two areas for guaranteed job opportunities at the time. Engineering appealed to me more as I was not good at memorising, I was better in maths.
In the last year of university, I was very confused. I hadn’t enjoyed my summer job internships and I was thinking of continuing with a masters degree in engineering. Finding a scholarship in the US and the UK was very difficult. While I was trying my chances with applications for masters degree in engineering, I saw a newspaper ad one morning.
It was from Turkish Education Foundation. “Masters in Finance Scholarship Abroad”, was the headline of the advertisement. I had very limited knowledge of finance, it wasn’t a field I was exposed to. On the other hand, it was an opportunity for me to study abroad and have a global perspective while I was still very young.
I decided to apply and sent all the required documents. I was invited for an interview in Istanbul as part of a stage in the selection criteria. While I was nervously waiting for my turn with other students, I was called into the interview room by Ms Güsel Bilal, who was the head of the selection committee, and a person dedicated her life to TEV and its students. After the interview, she told me “Turkey needs people like you studying abroad, having a global perspective to the world. Finance is the future and you will do extremely well.”. I returned back to Ankara, I discussed the scholarship with my family, and they were very supportive. In parallel, Ms Güsel Bilal called a few times, encouraging me. I was so touched by her passion and dedication to help my future.
Two years passed by quickly. I was always in touch with TEV during that time. When I had difficulties away from home, they were always there for me. One of the conditions of the scholarship was to go back to Turkey, pay back the scholarship and, afterwards, I was free to work at any financial centre in the world. I was lucky, I found a good job in a bank in Istanbul and in three years, I managed to pay back all the money I have received, for the next generation of scholarships.
I had the honour of working on projects with TEV afterwards, trying to help in my capacity as much as possible.
I had the great pleasure of getting to know Mr Ömer Koç and thanked him for the amazing foundation he has been supporting.
Thanks to the leadership of Sule Arınç, a new journey started in London to help TEV more with the support of UK donors and UK colleges. There is nothing more in a person’s life more than happiness, health, and education. TEV started this initiative decades ago; TEV UK is helping these efforts to help educational support expand globally and I hope for many more decades.
My relationship with TEV continued for decades. I tried to help and give back as much as possible. There was even a funny episode on Goldman Sachs London trading floor 20 years later where Ms Güsel Bilal was shouting at me that I haven’t called her for a year, and I was blushing with embarrassment in front of my colleagues. I apologised many times to her on the call.
My advice to everyone who wants to study, learn and open a global window to their world, please never lose hope and always remember to carry the tradition to the next generation.
## Dalinç Arıburnu
Former TEV Scholarship Holder TEV UK Trustee
23
24
## **“ALL THESE POSITIVE CHANGES IN MY LIFE WERE MADE POSSIBLE THANKS TO THE TEV UK OXFORD UNIVERSITY SCHOLARSHIP.”**
Since September 2022, I have been honored to be TEV UK’s first Oxford University scholar. The scholarship has allowed me to advance my studies at one of the best universities in the world. Without this scholarship, I would not be able to come to Oxford. During the first year of my studies here, I had the privilege to study under the supervision of Professor Eugene Rogan, one of the most influential scholars in my field. Additionally, as a member of St. Antony’s College, I met many important scholars and students focusing on different parts of the world in my college.
**----- Start of picture text -----**
25
19
**----- End of picture text -----**
The social network that I have been a part of enlarged my perspective intellectually, socially, and academically. All these positive changes in my life were made possible thanks to the TEV UK Oxford University Scholarship. However, TEV UK’s contribution to my life is not limited to the university. Owing to several events organized by the TEV UK, I met many TEV supporters in London, to whom I am grateful for their contributions to the foundation. Therefore, TEV UK also provided me with an invaluable opportunity to be in touch with esteemed members of the Turkish community in London. The scholarship has been life-changing for me so far, and I am looking forward to taking an active volunteer role in the foundation once I finish my studies.”
## Muhammed Aslaner
TEV UK 2022/23 Scholarship Holder University of Oxford MPhil Modern Middle Eastern Studies
26
The TEV UK Scholarship played a pivotal role in my academic and professional journey by providing me with an extraordinary opportunity to pursue the MRes in Machine Learning program and AI at Imperial College London. At the heart of this program was a research-based curriculum, allowing me to immerse myself in a project centred on 3D computer vision - an area I am passionate about.
In my research, I delved into enhancing the accuracy of scene flow estimations, which are essential in applications such as autonomous driving, robotics, and civil engineering. I aimed to refine how 3D objects are represented and analyzed using geometric priors, especially for civil engineering objects. This was an intriguing yet concise segment of my broader educational experience.
The program also enriched my skill set beyond research through various classes. I enhanced my programming prowess and gained a deeper insight into the ethical dimensions of AI. I particularly enjoyed the reading groups, which were a breeding ground for
intellectual discourse. Through simulated discussions that mirrored those in AI-focused circles, I honed my ability to articulate ideas and engage in critical analysis. This experience also taught me how to skillfully create persuasive research proposals and thoughtfully evaluate the real-world impact of research outcomes.
Moreover, living in London added a deep layer to my experience. The city, with its rich tapestry of cultures, exposed me to various tastes and perspectives. This diverse culture surrounding me served as a backdrop and an integral component that enriched my learning experience.
In conclusion, the TEV UK Scholarship was more than just financial aid; it was a springboard that launched me into a realm of endless possibilities. My sincerest gratitude goes to TEV UK for their unwavering commitment to supporting and nurturing aspiring minds.
## Nursena Köprücü
TEV UK 2022/23 Scholarship Holder Imperial College London MRes in Machine Learning Program and AI
27
28
As one of the pioneering recipients of the TEV UK Scholarship, I am both humbled and exhilarated to be pursuing my Master’s in Advanced Mechanical Engineering at the esteemed Imperial College London. This scholarship has been the key that unlocked doors I had only dreamt of walking through.
During my time here, I have deeply immersed myself in the fascinating world of combustion and propulsion technologies. My research, which is centred on examining the effects of electromagnetic fields on the combustion of zero-carbon fuels with nano-additives, is close to my heart. The aspiration to curtail fuel consumption and augment combustion efficiency is motivated by a larger goal - to lessen the environmental burden through reduced carbon dioxide emissions.
Furthermore, the program has significantly honed my analytical skills by familiarizing me with numerical tools indispensable in conducting advanced research. However, learning extends beyond textbooks and laboratories; the diversity within the student community has been an education in itself. My interactions with classmates from disparate corners of the world have been enlightening and have enriched my multicultural understanding. These exchanges have taught me the value of teamwork and the importance of incorporating diverse perspectives in problem-solving.
In addition, I am exceedingly grateful to the Mechanical Engineering Department for organizing events that enabled me to rub shoulders with exceptional scholars and industry veterans. These interactions have been a source of inspiration and have provided me with a broader perspective on the applications and impact of my field of study.
In conclusion, I would like to express my profound gratitude to TEV UK for their unwavering support and for believing in my potential. Being one of the first beneficiaries of this scholarship, I am acutely aware of the trust placed in me. This opportunity has not only been an academic boon but also a holistic experience that has shaped me both personally and professionally. The TEV UK Scholarship has been the cornerstone upon which I have been able to build a foundation for a promising future in engineering, and for that, I am eternally thankful.
## Emin Sarıdede
2022/23 TEV UK Scholarship Holder Imperial College London Master’s in Advanced Mechanical Engineering 29
**“I WOULD LIKE TO EXPRESS MY PROFOUND GRATITUDE TO TEV UK FOR THEIR UNWAVERING SUPPORT AND FOR BELIEVING IN MY POTENTIAL.”**
**Success is best when it is shared. Howard Schultz**
## **TEV UK - TEV COOPERATION**
32
31
**TEV UK HAS A STRONG COOPERATION WITH ONE OF THE MOST PROMINENT, RESPECTABLE, AND IMPACTFUL CHARITIES OF TÜRKİYE, TURKISH EDUCATION FOUNDATION (TEV)**
TEV UK’s cooperation with TEV is identified and set forth by the Cooperation Protocol (Protocol) signed between TEV and TEV UK. The objective of this Protocol is to support students of Turkish origin to avail themselves of graduate education opportunities (especially in the UK) and where necessary, to enable young Turkish individuals, who may have been deprived of educational opportunities due to various reasons such as disasters etc., to receive education in an uninterrupted manner.
## **ABOUT THE TURKISH EDUCATION FOUNDATION - A BRIEF LOOK**
Established in 1967, the Turkish Education Foundation is a non-governmental organization that has contributed to education in Turkey for over half a century in a number of distinct roles. This support is mainly in the form of scholarships for vocational high school, university, and master’s and Ph.D students and covers students in all 81 provinces in the country. As such, TEV offers the largest amount of support to students in Turkey, second only to the government.
The Foundation also operates İnanç Türkeş Private High School (TEVİTÖL), a boarding school for gifted high school students from all over Turkey as well as women’s dormitories for university students. In terms of international recognition, TEV has been the exclusive Turkish partner for the German, French and UK governments on their educational exchange programs particularly for graduate study and established its first international initiative in 2022: TEV UK.
33
34
**FUNDRAISING INITIATIVES**
**Be the change you want to see in the world.**
**Mahatma Gandhi**
35
36
## **FUNDRAISING FOR THE ULTIMATE GIFT, A SCHOLARSHIP**
## **TEVgililer CAMPAIGN**
From the onset of our TEV UK initiative, we were aware that any charitable act is based on the connection of hearts. Therefore, on the week of Valentine’s Day of 2022, we launched our first ever fundraising campaign titled ‘TEVgililer’ which means ‘darlings of TEV’. We have created digital celebration cards that can be shared with loved ones at a donation of choice. TEVgililer campaign contributed vastly to raise awareness for TEV UK and draw attention to its objective of creating equality in access to education.
## **TURKISH EMBASSY OF LONDON LAUNCH EVENT**
We have organized a launch cocktail on 3 March 2022 thanks to the invaluable support of our host, Republic of Türkiye Turkish Embassy in London.
We are forever grateful for the kindness and support of our host in bringing us together with the Turkish community living in the UK. Our launch event also emphasized the importance of how charitable acts bring hearts together, which echoed on our event slogan ‘Turkish Hearts for Turkish Minds’.
37
38
## **19 MAY 2022 ONLINE AUCTION**
TEV UK’s first ever online auction took place between May 19 and May 22, 2022.
In 2022, the online auction’s date, with a deliberate choice, coincided with the Commemoration of Atatürk, Youth and Sports Day on May 19. Each May 19 is officially celebrated across Türkiye as a day specifically gifted to the youth. In historical perspective, 19 May 1919 officially marks the beginning of the Turkish War of Independence following WW1.
The auction items were carefully curated and included holidays, art, wellness, fashion, and some unique experiences money cannot buy. We are thankful to all the donors who have donated these amazing items to be included in our auction to raise funds for our scholarships.
Our auction also included some regular, either one-off, or, monthly donations. Specially, monthly donations, are a very important way to make TEV UK’s fundraising efforts sustainable.
We are grateful to all participants of our auction who helped us make this fundraising event a great success!
TEV UK aims to organize at least one such auction each year on special days.
## **A FESTIVE LADIES’ CHARITY LUNCH**
TEV UK, organized a Festive Ladies’ Charity Lunch on 28 November 2022 to support Türkiye’s brightest scholars. The lunch was accompanied by talks by our guest speaker, and two of our current bursaries. At the end of our lunch, a raffle prize draw showcasting delightful prizes was conducted to raise further funds for our scholarships. We are grateful to all attendees who participated in our lunch and raffle, and all the donors of prizes we enlisted in the raffle.
39
40
## **FOUNDING BENEFACTORS**
**ETHEL & ERGUN ÖZEN DİDEM & TURGAY CİNER SUPPORT CI RCLE ATİLA TÜRKMEN HAMDİ AKIN SERKAN BEKTAŞ**
42
41
## **PARTNERSHIPS**
**Collaboration is the essence of life. The wind, bees, and flowers work together, to spread the pollen. Amit Ray**
43
44
**TEV UK HAS PARTNERSHIPS WITH THE WORLD’S MOST PROMINENT EDUCATION INSTITUTIONS**
The United Kingdom is home to great education institutions. TEV UK is dedicated to establishing strong partnerships with the UK’s most prominent universities to support its main objective of providing access to quality education.
As of end 2022, TEV UK had three fee sharing partnerships with the UK’s outstanding universities. TEV UK is currently in talks with other distinguished universities of the UK to extend its network of universities with partnership agreements. TEV UK is also in talks with The Foreign, Commonwealth and Development Office (“FCDO”) of the UK for a partnership regarding the Chevening Scholarship.
46
45
TEV UK is honored to have a gift agreement with the University of Oxford for a scholarship.
TEV UK has selected one student for this exceptional scholarship in 2022/2023 acamedic year. TEV UK is grateful to the donation of Beko Plc to turn this scholarship into reality in 2022/2023 acamedic year.
The scholarship, jointly financed by the University of Oxford and TEV UK, includes both the tuition fee and living expenses of the scholarship holder. It is advertised by TEV UK, TEV and the University of Oxford.
The partnership with the University of Oxford will continue into 2023/2024 academic year with one new student.
“The Scholarship” is for graduate students demonstrating exceptional academic merit and potential who are commencing a masters or MPhil course of study in Humanities Division at the University of Oxford.
48
47
TEV UK is proud to be partnering with Imperial College London (Imperial College of Science, Technology and Medicine) for a scholarship programme. The agreement, which covers a maximum of two awards per academic year, stipulates that the awards will be for one-year taught masters programmes offered by the Faculty of Engineering and the Faculty of Natural Sciences at Imperial College London. The eligible candidates must hold a first degree that is equivalent to at least a good UK second-class honours degree, be ordinarily a resident and/or citizen of Türkiye and hold an offer of admission from one of the permissible masters programmes under this award.
TEV UK is immensely grateful to its generous benefactor, Eczacibasi Holding for turning this scholarship into a reality in 2022/23 academic year.
TEV UK has selected two students for this scholarship in 2022/23 academic year. This scholarship will continue in 2023/24 academic year.
49
50
TEV UK is gratified to have signed a gift agreement with Cambridge Commonwealth, European and International Trust (‘Cambridge Trust’) in November 2022. TEV UK and Cambridge Trust agreed to establish a program of scholarship for one student at the University of Cambridge. Students from Türkiye or of Turkish citizenship may apply for the this scholarship to undertake a Master’s degree. The scholarship is called the “Turkish Education Foundation (UK) Cambridge Masters Scholarship”.
The first student to be awarded with this scholarship has already been selected for the 2023/24 academic year.
**----- Start of picture text -----**
52
**----- End of picture text -----**
51
**It is the mark of an educated mind to be able to entertain a thought without accepting it. Aristotle**
## **GOVERNANCE & AL REVIEW FINANCI**
53
54
## **Organisation**
The charity is constituted as a Charitable Incorporated Organisation (CIO) and it is governed by its constitution dated 4 February 2021. The organisation was registered as a charity by the Charity Commission for England and Wales on 8 January 2021.
## **Recruitment, Appointment and Training of Trustees**
TEV UK’s current board of trustees consist of the founding trustees. Currently, trustees do not have a fixed term. The Trustees undertake the necessary trainings to stay up to date in terms of Charity Commission’s requirements.
## **Key management**
The day-to-day activities of the charity are managed by the Trustees and the Development Committee. All the Trustees and Development Committee members of the charity are working on a voluntary basis and do not receive any renumeration from the Charity. The Development Committee members are chosen by the Board of Trustees based on their abilities and time commitments.
## **Public Benefit**
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on Public Benefit when reviewing the charity’s aim and objectives and in planning future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.
To select students for these scholarships, TEV UK and TEV make joint announcements containing application criteria and deadlines. Following the deadlines, the applications are filtered through with the pre announced selection criteria and academic success. The students who fulfill all criteria and received an uncontiditional offer from the specified university / programme are shortlisted for the interview process. The joint TEV and TEV UK interview selection committee then decides on the candidates to receive the particular scholarship.
## **Banker**
HSBC plc P O Box 68 130 New Street Birmingham B2 4JU
## **Independent Examiner**
Olayinka Tomori ACA DChA Longmeade Consult Ltd Regus House Victory Way Dartford DA2 6QD
## **Grant Making Policy**
The charity’s main objective is to provide scholarships for bright young people who are academically successful but in need of financial assistance to continue their education. The charity has partnered with Turkish Education Foundation (TEV) in Türkiye to select the students who will receive these scholarships. TEV UK may contribute towards the higher education, merit-based and selective scholarships in Türkiye for students selected by TEV’s selection criteria. TEV UK also provides scholarships for selected graduate programmes at the leading UK universities. Currently, TEV UK has partnership agreements with the University of Oxford, Imperial College London and University of Cambridge.
55
56
## **Financial Review**
The Trustees present the financial statements for the year ended 31 December 2022. These have been prepared in accordance with the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) and comply with the charity’s Trust Deed.
## **Plans For Future Periods**
The charity intends to enter into new partnership agreements with the Foreign Commonwealth and Develeopment Office (FCDO) for the Chevening Scholarships programme and the London School of Economics and Political Science for a joint masters scholarship in the near future. In order to fund these and other scholarships, the charity will undertake several fundraising activities in the future to reach to a wider community.
This is the charity’s second accounting period of operation following its registration by the Charity Commission on 8 January 2021. Hence, the first accounting period covered 8 January 2021 to 31 December 2021. The accounting period under review is for the year ended 31 December 2022.
Income for the year was £312,928 (2021: £131,183) which was generated from corporate and individual donations and from fundraising events. Expenditure was £118,237 (2021: £71,016) and consisted of the grants made to students, costs of running fundraising events and support costs incurred in supporting these activities. The increase in income and expenditure was expected as the prior accounting period was the first period of operation of the charity. There year ended with net income of £194,691 (2021: £60,167).
## **Reserves Policy**
The total funds at the year-end were £254,858 (2021: £60,167) which was all unrestricted general funds (free reserves). The charity’s policy is to hold around £200,000 as free reserves (unrestricted general funds less net book value of fixed assets); a sum deemed by the trustees to be appropriate in the light of the commitments of the charity and other uncertainties. Funds held in excess of free reserves will be utilised to expand the range of grants and fundraising activities being undertaken by the charity.
58
57
## **Statement Of Trustees’ Responsibilities**
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees of the charity to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that this basis applies.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations and with the charity’s governing document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the Trustees on 26 October 2023
………………………………. Şule Arınç Trustee
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF TURKISH EDUCATION FOUNDATION UK**
I report to the charity trustees on my examination of the accounts of the Turkish Education Foundation UK for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
## RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
## It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention
## BASIS OF INDEPENDENT EXAMINER’S STATEMENT
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
59
60
## INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
## **TURKISH EDUCATION FOUNDATION UK (TEV UK) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Olayinka Tomori ACA DChA
26 October 2023
Longmeade Consult Ltd Regus House Victory Way, Admiral’s Park Kent, DA2 6QD
All amounts arise from continuing activities and there are no recognised gains or losses other than those shown above in the Statement of Financial Activities.
The accompanying notes form part of these financial statements.
62
61
## **TURKISH EDUCATION FOUNDATION UK (TEV UK) BALANCE SHEET AS AT 31 DECEMBER 2022**
## **TURKISH EDUCATION FOUNDATION UK (TEV UK) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## 1. ACCOUNTING POLICIES
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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## Going Concern
The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect of a period of one year from the date of approval of these accounts and have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern.
## Income
Income recognised when receivable or when the charity becomes legally entitled to them and the value can be estimated with reasonable certainty.
## Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Costs of raising funds comprise the costs associated with attracting income and the costs of trading for fundraising purposes. Expenditure on charitable activities includes educational grants to further the purposes of the charity and their associated support costs.
63
64
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
## Statement of cash flows
As a small charity, Turkish Educational Foundation UK is exempt from the requirement to produce a Statement of Cash Flows.
65
66
ExPERE
Totsl
Totsl
22
In*
J67
J,Z70
1.651
1270
I54
2.1
Tor
TR4MRICTIQN5WIThThU5TEE5•pAEL4TEDPARTIE5
115to
44
IrnPEnJl(d1
10>
.544
EFI.016
67
68