2021-12-31-accounts

Black Heritage Fund: Trustees’ Annual Report for the period 04/05/2021 to 31/12/2021

1. Objectives and Activities

BHF’s Purpose and the Relevance of its Activities to such Purpose:

• a. The vision that shapes BHF’s annual activities is the promotion of equality and diversity for the public benefit by the elimination of discrimination on the grounds of race by any means charitable, including by making grants to charities, charitable institutions, charitable purposes or organisations as the trustees select and think fit.

• b. In the period identified at the top of this report (the “Period” ), BHF fundraised for its nominated organisation (The African Pot Project (“ T.A.P ”)) through each of the trustee’s networks. T.A.P is a Manchester-based initiative which seeks to promote social inclusion for people of African origin. T.A.P is a company limited by guarantee with social aims.

• c. BHF nominated this organisation on the basis of research into a number of organisations against the BHF partnership criteria, which is detailed below in Section 1(g) ( BHF’s Policy on Nominating the Partner Organisation ).

• d. As well as fundraising, BHF also facilitated contact between Bank of America Merrill Lynch and T.A.P for the purpose of providing data protection compliance training to T.A.P.

• e. BHF incurred the following costs in relation to the fundraising in the Period: (i) £264 on Stripe fees on donations; (ii) £201 in respect of insurance for the period 22 June 2021 - 21 June 2022. £600 was incurred in respect of accountancy fees for the period but was not paid in the period.

• f. In shaping BHF’s objectives for the year and planning its activities, the trustees have considered and had regard to the Charity Commission’s guidance on public benefit. The BHF trustees consider that they have taken such guidance into account when making decisions during the Period in relation to the nominated organisation as well as the approach to fundraising, such that the purpose as detailed above continues to be for the ‘public benefit’, within the meaning of the Charities Act 2011.

BHF’s Policy on Nominating the Partner Organisation

• g. The criteria BHF used to decide who the charity supports is as follows:

• i. BHF will focus its resources on projects seeking to diminish racial inequality and a lack of diversity in respect of those groups which BHF considers are suffering the most severely as a result of this inequality in England and Wales.

• ii. In determining what work BHF carries out, or supports, BHF will consider (i) the extent to which the work furthers BHF’s mission (i.e. to promote racial harmony and equality), (ii) the resources BHF is able to apply towards this work, and (iii) the impact those resources will have on this work.

• iii. Some projects, initiatives or programmes (“ Projects ”) will be originated by the Black Heritage Fund, whereas others are delivered by a third party (a “ Partner ”). Where a Project is delivered by a Partner, the BHF

trustees will have discretion in deciding how our assistance is applied in the pursuit of BHF’s purposes.

• iv. BHF will consider a selection of specific, core questions in relation to the Project, which BHF has set out in a project support criteria document, when determining which Projects to work on or support.

Selecting T.A.P

• h. BHF selected T.A.P as its nominated beneficiary on the basis of: (i) desktop research into dozens of charities and organisations that appeared to fit with BHF’s goals, values and objectives; (ii) trustees’ shortlisting of the charities; (iii) discussions with shortlisted charitable organisations in order to find out more about them and answer any questions they may have; and (iv) compiling information received and trustees selecting the nominated beneficiary for one year’s fundraising activities and non-financial assistance on the basis of BHF’s criteria.

• i. During this process for the Period, the trustees were particularly keen on T.A.P’s grass roots nature, its proximity to the community it exists to help, the two specific projects BHF agreed to fundraise for, and the way in which it works directly with its beneficiaries.

2. Achievements and Performance

• a. BHF exceeded its initial fundraising target by over 100%, primarily through fundraising from trustee networks. The initial fundraising target was £5000 for T.A.P. BHF received £12,006 total funds and donated £10,000 to the nominated beneficiary.

• b. BHF agreed with T.A.P that T.A.P would use the fundraised sum for two specific projects it is running:

• i. Youth Hikes: Hikes aimed at young Black people from in and around Manchester.

  1. The programme aims to encourage the Black youth (primarily 13 - 19 year olds) of central Manchester to do more outdoor activities on a regular basis, primarily during school holidays. T.A.P carried out a consultation with this group, which identified that the lack of youth services and outdoor and fun activities, particularly during lockdown, had an adverse impact on their mental and emotional health.

  2. The project aims to work with up to 150 young people to work towards: (a) increasing resilience and confidence; (b) improving wellbeing and mental health; (c) increasing community cultural awareness; and (d) improving economic wellbeing practices.

• As T.A.P is focussing on running the hikes with young Black people from areas in Manchester with higher concentrations of young people and higher rates of child poverty, BHF is confident that this work fits squarely with its aims and objectives detailed above in this report.

ii. MOBB TV: A project to create a series of films which celebrate and advertise Black businesses in Manchester.

  1. MOBB TV will provide product review videos, interviews and engaging advertisements for Black-owned businesses in Manchester as they seek to recover from the impact of the

pandemic. MOBB TV will assist them in creating clearer branding, imagery and clear communication of their business aims.

1. The expected outcome of MOBB TV is an increased awareness in Manchester of Black businesses leading to increased consumer spending.

2. Again, BHF is confident that this work fits with our aims and objectives.

3. c. The trustees were particularly pleased with the sum BHF raised given that the trustees held back from organising fundraising events during our fundraising season due to the uncertainty around events due to the pandemic. We therefore focussed on fundraising within trustee networks.

4. d. BHF is still in touch with T.A.P, who will continue to send us updates in relation to the two projects detailed above until their completion.

3. Financial Review

• a. We raised £12,006 in the Period, (£5,381 unrestricted and £6,625 restricted). £201 was spent on insurance and £264 on Stripe fees as detailed above. BHF ended the year with cash funds of £1541. This was retained by BHF for BHF’s operational costs, which we expect to include accountancy fees of £600 and travel expenses incurred in relation to BHF meetings and visiting beneficiaries.

• b. We donated £10,000 to the nominated beneficiary (T.A.P).

4. Structure, Governance and Management

• a. BHF’s governing document is a CIO constitution. BHF is a CIO.

• b. BHF’s trustee selection methods are as follows: apart from the first charity trustees (detailed below in this report), every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

5. Reference and Administrative details

• a. Charity Name : Black Heritage Fund

b. Registered Charity Number : 1194332

• c. Charity’s principal address : First & Second Floor, 91 Great Titchfield Street, London, W1W 6RW

• d. Names of the trustees who manage the Charity :

	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
1	Daniel Stone	N/A	Whole year	N/A
2	Leonie Campbell-King	N/A	Wholeyear	N/A
3	Rosanna Barry	N/A	Whole year	N/A
4	SamySamandjeu	N/A	Wholeyear	N/A
5	Tanisha Onyenaoha	N/A	Whole year	N/A

6. Declarations

The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees

Full name Rosanna Barry Tanisha Onyenaoha Position Chair Trustee Date of approval 27 October 2022 27 October 2022

Receipts and Payments accounts

Black Heritage Fund (1194332) For the period 4 May 2021 to 31 December 2021

Section A Receipts and Payments

	Unrestricted	Restricted	Total funds
	funds	funds
	to the nearest £	to the nearest £	to the nearest £
Receipts
Donations	5,381	6,625	12,006
Total receipts	5,381	6,625	12,006
Payments
Grants and donations paid	3,375	6,625	10,000
Insurance	201	-	201
Payment provider charges	264	-	264
Total payments	3,840	6,625	10,465
Net of receipts/(payments)	1,541	-	1,541
Cash funds this year end	1,541	-	1,541

Section B Statement of assets and liabilities at the end of the period

	Unrestricted funds to nearest £ Restricted funds to nearest £
Cash funds	Metro Bank Current Account 1,522 -
	Stripe Payment Account 19 -
Total cash funds	1,541 -
Other monetary assets	Tax reclaims due (anticipated Gift Aid for the period) - 1,090
Liabilities	Accounting fees for the period 600 -

Notes to the accounts:

1. These accounts are prepared on a receipts and payments basis.

2. These accounts cover the period between the organisation's registration as a CIO and the period end date. No payments or receipts were made or due prior to the organisation's registration as a CIO.

3. The CIO has two funds: an unrestricted general fund and a beneficiary specific restricted fund. The latter covers donations raised for a specific beneficiary organisation. The beneficiary organisation of the restricted funds for this accounting period was T.A.P The African Pot Project Ltd. Additional funds were paid to this beneficiary from the CIO's unrestricted fund.

4. The CIO has no outstanding guarantees to third parties nor any debts secured on the assets of the CIO.

5. No remuneration was paid to any trustee, nor were there any personal expenses paid during this period.

Signed on behalf of the charity’s trustees

Full name	Rosanna Barry	Tanisha Onyenaoha
Position	Chair	Trustee
Date of approval	27 October 2022	27 October 2022