CHARITY REGISTRATION NUMBER: 1194895
Soroptimist International Foundation Unaudited Financial Statements
For the year ended
31 December 2022
Soroptimist International Foundation
Financial Statements
Year ended 31 December 2022
| Pages | |
|---|---|
| Trustee's Annual Report | 1 to 6 |
| Independent Examiner's Report to the Trustee | 7 |
| Statement of Financial Activities | 8 |
| Statement of Financial Position | 9 |
| Notes to the Financial Statements | 10 to 17 |
Soroptimist International Foundation
Trustee's Annual Report
Year ended 31 December 2022
The Trustee presents their Report and the unaudited Financial Statements of the Charity for the year ended 31 December 2022.
Reference and administrative details
| Registered Charity name | Soroptimist International Foundation |
|---|---|
| Charity registration number | 1194895 |
| Principal office | 8a Romsey Terrace |
| Cambridge | |
| CB1 3NH | |
| The Trustee | S I (Soroptimist International) |
| Limited | |
| Independent Examiner | Shane Tharby FCA |
| For and on behalf of | |
| Streets Chartered Accountants | |
| 3 Wellbrook Court | |
| Girton | |
| Cambridge | |
| CB3 0NA |
Structure, governance and management
Soroptimist International Foundation is an unincorporated Charity formed and governed by a Trust Deed dated 1 March 2021 and became a registered Charity on 22 June 2021 under Charity number 1194895.
The Trust Deed does not provide for the appointment of new Trustees as the Trustee is a Corporate Trustee, being S I (Soroptimist International) Limited, and the Articles of Association of S I (Soroptimist International) Limited provides for the appointment of Directors of that Company.
Day to day management is undertaken by Deborah Thomas, the Global Executive Director of S I (Soroptimist International) Limited.
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Soroptimist International Foundation
Trustee's Annual Report (continued)
Year ended 31 December 2022
Objectives and activities
The Objects of the Charity are to apply the income from the Trust Fund and at its absolute discretion the Trustee may also apply any part or parts of the capital of the Trust Fund for all or any exclusively charitable purpose or purposes (according to the laws of England) as fall within the Soroptimist International Objects ("The Charitable Objects") and not the wider Soroptimist International Objects themselves.
The Objects of Soroptimist International (as referred to above) are to promote either directly or by the encouragement and support of others:
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The advancement of education;
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The advancement of health and saving of lives;
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The relief and/or prevention of poverty;
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The advancement of good citizenship and community development; and
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The advancement of human rights, peace, equality and diversity;
in each case for the benefit of the public across the world and in particular for the benefit of women and girls to advance their status, position and role in society where currently unequal or disadvantaged (the 'Objects').
Soroptimist International, consists of five Federations: Soroptimist International Africa Federation, Soroptimist International of the Americas, Soroptimist International of Europe, Soroptimist International of Great Britain & Ireland and Soroptimist International of the South East Asia Pacific. A global volunteer movement, we work together to transform the lives of women and girls. Our network of over 3,000 clubs in 118 Countries across the world work at a local, national and international level to Educate, Empower and Enable opportunities for women and girls.
The activities undertaken are collecting Appeal donations from the five Federations and wider afield and making grants to providers that meet the objectives of the Charity.
The Trustee has had due regard to the guidance issued by the Charity Commission on public benefit.
Achievements and performance
The Charity was established on 1 March 2021 and then obtained charitable status. Appeal Funds previously received by S I (Soroptimist International) Limited from the five Federations before the Charity was formed were transferred to the Charity and further Appeal donations continued to be received from the five Federations.
The previous Appeals in operation have been reduced during the year with the majority of funds held for these separate Appeals now having been paid out during the year.
The Appeals that were running during the year are detailed below.
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Soroptimist International Foundation
Trustee's Annual Report (continued)
Year ended 31 December 2022
Achievements and performance (continued)
Opening Doors to a Bright Future Appeal
'Opening Doors to a Bright Future' is the Soroptimist International (SI) President's Appeal, 2021-2023, officially launched on 1 October 2021. Headed by SI President Maureen Maguire, 2022-23, the Appeal springs from the learnings and success of many of the SI Appeals that have gone before; uniting Soroptimists, Clubs, Regions, Unions and the five Federations, with the aim of delivering tangible benefits to some of the world's most marginalised women, girls, and their communities. With plans to establish Appeal projects in each of the five Soroptimist Federations, the launch project is taking place within the Federation of the South East Asia Pacific, in the South East Asia Nation of Cambodia.
The SI President's Appeal 2021-2023 applied to the SI Board (the Board of Directors of S I (Soroptimist International) Limited) for seed funding (by way of a short term loan) of £20,000 in order to commence a project on 1 January 2022. This was approved at the December SI Board meeting. This seed funding was paid back to SI (Soroptimist International) Limited at the end of November 2022.
The Appeal seeks to increase gender equality, women's empowerment and participation through education and training. It's aim is:
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To provide access to education and training for disadvantaged and marginalized women and girls;
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To provide education for women and girls in a safe, friendly and stimulating environment where there is equality of opportunity and support for all;
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To develop self-confidence, self- esteem and to feel valued through mentoring programmes;
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To enable women, particularly the most vulnerable and excluded in society to access information, resources and services they need to make positive life choices; and
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To breakdown barriers to learning and participation for women so that they become fully active citizens and are equipped to pass on their experience to benefit their families and broader communities.
Opening Doors to a Bright Future Appeal Projects undertaken during 2022 included:
(1) Cambodia Community Dream Organisation - Cambodia
This project in the Siem Reap Region of Cambodia, an area where girls are less likely to receive secondary education and women especially those widowed, or one parent families find it difficult to retain their land. This project worked with newly widowed women, female headed households and students to train them in the various aspects of making themselves financially independent, increasing the knowledge and professional life skills of women and girls to become leaders and benefit financially. The project had an estimated target of 2,000 women and it was pleasing at the end of year one of this two year project, 31 December 2022 there were 2,814 women and girls being trained. These women and girls have attended training in many things including gender equality, micro financing and budgeting, self-esteem and self-confidence, health, and small business enterprises. A team of SMART women has also been established to make the project sustainable and more importantly, they advocate on behalf of the women and girls to solve many issues including land rights, divorce, and domestic violence.
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Soroptimist International Foundation
Trustee's Annual Report (continued)
Year ended 31 December 2022
Achievements and performance (continued)
(2) World Vision - Georgia
This project in Georgia is training forty-five women and girls in digital technology skills; ten women are being supported in order that they can be lifted out of poverty; and five women are having intensive English language training so they can obtain higher paid employment. The digital technology course is mainly for girls and young women between the ages of 14 and 30 years of age. Women headed households are also receiving equipment and training to develop skills that will enable them to obtain work.
This project will be:
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To increase girls and women employability by equipping them with digital competencies and become productive members of society;
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To improve socio-economic inclusion, resilience and skills so that they are enabled to access social/financial services and markets - to take control of their lives;
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To be able to participate in community structures and networks;
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To be able to compete in the Georgian job-market;
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To improve the well-being of women and girls and have a better life; and
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To increase public awareness about issues faced by women and girls.
(3) Rose Academies - Uganda
This project is based in the Soroti Region, a remote improvised rural area located in Central/Eastern Uganda, providing education and other life skill training for thirty young girls on how to look after their health and wellbeing, development of skills to start small businesses and training on becoming a leader within their communities.
The Girls Scholarship Programme will specifically provide out of school girls the opportunity to:
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To learn and feel safe while they are in school;
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To expand the curriculum;
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To be more informed about nutrition and healthcare;
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To learn life skills;
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To discover what it means to be a parent;
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To understand the value of an education;
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To be inspired to stay in school;
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To make better informed decisions about their life;
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To promote behaviour changes in the community; and
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To seek to change mind-sets of the rural poor.
The start of this program has been delayed until February 2023 as the selection was a long process, due to permission being sought from their families. Eventually after meeting with 463 families, 30 girls were selected. The program will also involve the girls' families providing them with skills in cooking, hairdressing and sewing which will enable them to make a living and enable the girls to stay on at school to finish their education.
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Soroptimist International Foundation
Trustee's Annual Report (continued)
Year ended 31 December 2022
Achievements and performance (continued)
Road to Equality Appeal
'The Road to Equality' was the Soroptimist International (SI) President's Appeal, 2019-2021, headed by Past SI President Sharon Fisher, focused Awareness, Advocacy and Action on topics affecting women and girls, including Child Marriage, Female Genital Mutilation, Domestic Violence, Rights of Older Women, Migration, and Human Trafficking.
Road to Equality Projects undertaken during 2022 included:
(1) Willing Hearts International Society - Canada
This program funded up to 200 girls aged 13-17 to attend the Youth Leadership and Mentoring Training at the Lugari Community Resource Centre in Western Kenya. The program leader was Khayanga Wasike, CEO and President of the Willing Hearts International Society. Funding provided accommodation, meals, transportation and training materials for the girls to come from around Kenya. Upon returning to school the objective was for the girls to have skills in leadership, governance, human rights, sanitation education, project management skills and violence prevention. They are prepared to pass on their learning to others at their school through projects planned while attending the Youth Leadership and Mentoring Training.
(2) Shreeja India Charitable Trust
The Shreeja India - 'Beyond Football Program' empowers girls from indigenous rural populations through sportsbased out of school education working to:
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a. Stop school dropouts;
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b. Prevent child marriage, trafficking and abuse;
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c. Promote sports as a tool for social development;
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d. Impart life skills to make girls self-reliant;
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e. Increase girl's self-awareness and foster leadership; and
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f. Improve physical and mental health.
The project is in Purba Burdwan District, West Bengal and caters to 33 tribal villages. As of 31 December 2022, 300 girls were registered in this program.
(3) HelpAge International - Charitable Company limited by guarantee, England and Wales (Host of the Global Alliance for the Rights of Older People)
The funding is to support the Global Alliance for the Rights of Older People, (GAROP) 'Age with Rights Global Rally Campaign'. The Global Rally involved events and activities in 31 Countries in all Regions of the world. More than 800 people reported being engaged in some way organising events and activities, reaching an estimated 4.8 million people. GAROP developed advocacy tools including media materials, a global advocacy map platform, convened advocacy conversations for key dates of thematic focus and campaigns during 2022 and worked with SI to host a webinar at CSW66. The Global Alliance has a membership of over 400 civil society organisations globally.
(4) Committee on Aging
The funding supported an event with a theme of 'Older Women' on the International Day of Older Persons, 1 October 2022 at the United Nations.
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Soroptimist International Foundation
Trustee's Annual Report (continued)
Year ended 31 December 2022
Achievements and performance (continued)
Educate to Lead Nepal
'Educate to Lead Nepal' Past International President Yvonne Simpson's Appeal 2015-2017, supported projects in Nepal with a focus on improving the lives of women and girls through education, empowerment and enabling opportunities. 'Educate to Lead Nepal' impacted the lives of around 7,000 women and girls in Nepal who had been traumatised by the 2015 Earthquake. The funds that remain from this appeal will be used to complete the final report.
Donations and legacies
Donations and legacies can be given, either restricted for a particular project that complies with the Objects of the SI Foundation and approved by the SI Foundation Committee, or for unrestricted general SI Foundation funds. In addition to the donations from the five Federations, members, clubs and regions for the Presidents Appeal the following donations and legacies were received.
The Elynor Falk Legacy is a restricted permanent endowment fund with only the interest to be used for educational programs in Israel.
Soroptimist International of the Americas, Taiwan Region donation for the education of women and girls from/in war torn countries. Parameters for the project are in development with applications and funding of projects expected later in 2023 or 2024.
To assist with the administration donations were received from Soroptimist member Wei KangPan and from SI (Soroptimist International) Limited.
Financial review
No formal policy has been established for holding reserves as the Charity has little to no fixed overheads and therefore the Charity's policy is to pay out grants only from funds received.
Jun 1, 2023
The Trustee's Annual Report was approved on .............................. and signed on behalf of the Board of Trustees by:
Maureen Maguire Maureen Maguire (Jun 1, 2023 10:08 GMT+1)
Mrs M E Maguire Chair/Director of S I (Soroptimist International) Ltd
Sue Williams (Jun 1, 2023 10:45 GMT+1)
Mrs S A Williams Director of S I (Soroptimist International) Ltd
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Soroptimist International Foundation
Independent Examiner's Report to the Trustee of Soroptimist International Foundation
Year ended 31 December 2022
I report to the Trustee on my examination of the Financial Statements of Soroptimist International Foundation ('the Charity') for the year ended 31 December 2022.
Responsibilities and basis of report
As the Trustee of the Charity you are responsible for the preparation of the Financial Statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity's Financial Statements carried out under Section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in Section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the Financial Statements do not accord with those records; or
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the Financial Statements do 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 no concerns and 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.
Shane Tharby FCA Independent Examiner
For and on behalf of Streets Chartered Accountants 3 Wellbrook Court Girton Cambridge CB3 0NA
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Soroptimist International Foundation
Statement of Financial Activities
Year ended 31 December 2022
| Period from | ||||||
|---|---|---|---|---|---|---|
| 1 Mar 21 to | ||||||
| Year to 31 Dec 22 | 31 Dec 21 | |||||
| Unrestricted | Restricted | Endowment | ||||
| funds | funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | £ | |
| Income and endowments | ||||||
| Donations and legacies | 4 | 33,215 | 157,057 | 91,761 | 282,033 | 201,070 |
| ---------------------------- | --------------------------------- | ---------------------------- | --------------------------------- | --------------------------------- | ||
| Total income | 33,215 | 157,057 | 91,761 | 282,033 | 201,070 | |
| ============================ | ================================= | ============================ | ================================= | ================================= | ||
| Expenditure | ||||||
| Expenditure on charitable | ||||||
| activities | 5,6 | 8,489 | 87,863 | – | 96,352 | 142,822 |
| ---------------------------- | --------------------------------- | ---------------------------- | --------------------------------- | --------------------------------- | ||
| Total expenditure | 8,489 | 87,863 | – | 96,352 | 142,822 | |
| ============================ | ================================= | ============================ | ================================= | ================================= | ||
| ---------------------------- | --------------------------------- | ---------------------------- | --------------------------------- | --------------------------------- | ||
| Net income and net movement | ||||||
| in funds | 24,726 | 69,194 | 91,761 | 185,681 | 58,248 | |
| ============================ | ================================= | ============================ | ================================= | ================================= | ||
| Reconciliation of funds | ||||||
| Total funds brought forward | – | 58,248 | – | 58,248 | – | |
| ---------------------------- | --------------------------------- | ---------------------------- | --------------------------------- | --------------------------------- | ||
| Total funds carried forward | 24,726 ============================ |
127,442 ================================= |
91,761 ============================ |
243,929 ================================= |
58,248 ================================= |
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 17 form part of these Financial Statements.
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Soroptimist International Foundation
Statement of Financial Position
31 December 2022
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | ||
| Current assets | ||||||
| Cash at bank and in hand | 249,418 | 97,120 | ||||
| Creditors: amounts falling due within | ||||||
| one year | 14 | 5,489 | 38,872 | |||
| --------------------------------- | ---------------------------- | |||||
| Net current assets | 243,929 | 58,248 | ||||
| --------------------------------- | ---------------------------- | |||||
| Total assets less current liabilities | 243,929 | 58,248 | ||||
| --------------------------------- | ---------------------------- | |||||
| Net assets | 243,929 | 58,248 | ||||
| ================================= | ============================ | |||||
| Funds of the Charity | ||||||
| Endowment funds | 91,761 | – | ||||
| Restricted funds | 127,442 | 58,248 | ||||
| Unrestricted funds | 24,726 | – | ||||
| --------------------------------- | ---------------------------- | |||||
| Total Charity funds | 15 | 243,929 | 58,248 | |||
| ================================= | ============================ | |||||
Jun 1, 2023 |
These Financial Statements were approved by the Board of Trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Maureen Maguire Maureen Maguire (Jun 1, 2023 10:08 GMT+1) Sue Williams (Jun 1, 2023 10:45 GMT+1) Mrs M E Maguire Mrs S A Williams Chair/Director of S I (Soroptimist International) Ltd Director of S I (Soroptimist International) Ltd
The notes on pages 10 to 17 form part of these Financial Statements.
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Soroptimist International Foundation
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The Charity is a Public Benefit Entity and a registered Charity in England and Wales and is unincorporated. The address of the principal office is 8a Romsey Terrace, Cambridge, CB1 3NH.
2. Statement of compliance
These Financial Statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The Financial Statements have been prepared on the historical cost basis.
The Financial Statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the Charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the Financial Statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There are no significant judgements or estimations made on the amounts recognised in the Financial Statements.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the Statement of Financial Activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the Trustee to further any of the Charity's purposes.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.
The Charity also has a permanent endowment fund set up from a legacy donation.
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Soroptimist International Foundation
Notes to the Financial Statements (continued)
Year ended 31 December 2022
3. Accounting policies (continued)
Incoming resources
All income is included in the Statement of Financial Activities when entitlement has passed to the Charity, it is probable that the economic benefits associated with the transaction will flow to the Charity and the amount can be reliably measured.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the Statement of Financial Activities to which it relates.
All expenditure in the period was on charitable activities and include all costs incurred by the Charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries and includes grants made. The expenditure also includes those support costs and costs relating to the governance of the Charity apportioned to charitable activities.
4. Donations and legacies
| Unrestricted | Restricted | Endowment | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Soroptimist International of Europe | – | 12,353 | – | 12,353 |
| Soroptimist International of the Americas | – | 37,778 | – | 37,778 |
| Soroptimist International of Great Britain | ||||
| & Ireland | – | 15,887 | – | 15,887 |
| Soroptimist International of South East | ||||
| Asia Pacific (formerly Soroptimist | ||||
| International of the South West Pacific) | – | 7,810 | – | 7,810 |
| Soroptimist International of Taiwan | ||||
| Region | 4,050 | 81,038 | – | 85,088 |
| Legacy/Memorial Donations | 18,521 | – | 91,761 | 110,282 |
| Other | 644 | 2,191 | – | 2,835 |
| Donation from S I (Soroptimist | ||||
| International) Limited | 10,000 | – | – | 10,000 |
| Transfer from S I (Soroptimist | ||||
| International) Limited | – | – | – | – |
| ---------------------------- | --------------------------------- | ---------------------------- | --------------------------------- | |
| 33,215 | 157,057 | 91,761 | 282,033 | |
| ============================ | ================================= | ============================ | ================================= |
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Soroptimist International Foundation
Notes to the Financial Statements (continued)
Year ended 31 December 2022
4. Donations and legacies (continued)
| Unrestricted | Restricted | Endowment | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | Funds | 2021 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Soroptimist International of Europe | – | 32,099 | – | 32,099 |
| Soroptimist International of the Americas | – | 50,342 | – | 50,342 |
| Soroptimist International of Great Britain | ||||
| & Ireland | – | 8,391 | – | 8,391 |
| Soroptimist International of South East | ||||
| Asia Pacific (formerly Soroptimist | ||||
| International of the South West Pacific) | – | 2,713 | – | 2,713 |
| Soroptimist International of Taiwan | ||||
| Region | – | – | – | – |
| Legacy/Memorial Donations | – | – | – | – |
| Other | – | 3,713 | – | 3,713 |
| Donation from S I (Soroptimist | ||||
| International) Limited | – | – | – | – |
| Transfer from S I (Soroptimist | ||||
| International) Limited | – | 103,812 | – | 103,812 |
| -------------- | --------------------------------- | -------------- | --------------------------------- | |
| – | 201,070 | – | 201,070 | |
| ============== | ================================= | ============== | ================================= |
The transfer from S I (Soroptimist International) Limited were Federation donations received prior to 1 March 2021 and not spent at the time of creation of the Foundation.
5. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Direct charitable activities | 3,066 | 82,862 | 85,928 |
| Support costs | 5,423 | 5,000 | 10,423 |
| ------------------------ | ---------------------------- | ---------------------------- | |
| 8,489 | 87,863 | 96,352 | |
| ======================== | ============================ | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Direct charitable activities | – | 134,222 | 134,222 |
| Support costs | – | 8,600 | 8,600 |
| -------------- | --------------------------------- | --------------------------------- | |
| – | 142,822 | 142,822 | |
| ============== | ================================= | ================================= |
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Soroptimist International Foundation
Notes to the Financial Statements (continued)
Year ended 31 December 2022
6. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding | Total funds | Total fund | ||
| directly | of activities | Support costs | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Direct charitable activities | 3,121 | 82,807 | 10,425 | 96,353 | 142,822 |
| ======================== | ============================ | ============================ | ============================ | ================================= |
The £3,121 includes foreign exchange differences, staff training costs, bank charges and membership fees.
7. Analysis of support costs
| Total activities | Total 2022 | Total 2021 | ||
|---|---|---|---|---|
| £ | £ | £ | ||
| Governance costs | 5,425 | 5,425 | 3,600 | |
| Administration costs | 5,000 | 5,000 | 5,000 | |
| ---------------------------- | ---------------------------- | ------------------------ | ||
| 10,425 | 10,425 | 8,600 | ||
| ============================ | ============================ | ======================== | ||
| 8. | Analysis of grants | |||
| Period from | ||||
| Year to | 1 Mar 21 to | |||
| 31 Dec 22 | 31 Dec 21 | |||
| £ | £ | |||
| Grants to institutions | ||||
| Global Media Campaign Charity | – | 30,000 | ||
| Shreeja India Charitable Trust | 24,923 | 16,632 | ||
| Willing Hearts International Society - Canada | 18,077 | 18,087 | ||
| AIDRom | – | 31,966 | ||
| HelpAge International | – | 22,600 | ||
| NGO Committee on Ageing | – | 3,752 | ||
| SI Club Ancient Plovidiv | – | 8,070 | ||
| Cambodia Community Dream Organisation | 18,371 | – | ||
| Rose Academies | 9,500 | – | ||
| World Vision International | 11,936 | – | ||
| ---------------------------- | --------------------------------- | |||
| Total grants | 82,807 | 131,107 | ||
| ============================ | ================================= | |||
| 9. | Net income | |||
| Net income is stated after charging/(crediting): | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Foreign exchange differences | 1,613 | 2,282 | ||
| ======================== | ======================== |
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Soroptimist International Foundation
Notes to the Financial Statements (continued)
Year ended 31 December 2022
10. Independent examination fees
| Period from | ||
|---|---|---|
| Year to | 1 Mar 21 to | |
| 31 Dec 22 | 31 Dec 21 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent Examination of the Financial Statements | 1,800 | 1,800 |
| Preparation of the Financial Statements | 1,800 | 1,800 |
| Other services | 480 | - |
| ------------------------ | ---------------------------- | |
| 4,080 ======================== |
3,600 ============================ |
11. Staff costs
There were no employees during the current year and prior period.
12. Trustee remuneration and expenses
No remuneration, or other benefits from employment with the Charity or a related entity, were received by the Trustee and no Trustee expenses were charged.
An administrative charge of £5,000 (2021: £5,000) was charged during the year by S I (Soroptimist International) Limited but this was not in connection with being a Trustee.
13. Cash and cash equivalents
Included in the cash at bank and in hand amounts are £nil (2021: £72,588) of bank balances held by the Corporate Trustee, S I (Soroptimist International) Limited, on behalf of the Charity.
14. Creditors: amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 61 | 14,660 |
| Accruals and deferred income | 4,068 | 3,600 |
| Other creditors | 1,360 | 20,612 |
| ------------------------ | ---------------------------- | |
| 5,489 | 38,872 | |
| ======================== | ============================ |
Other creditors is a balance owed to the Corporate Trustee, S I (Soroptimist International) Limited.
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Soroptimist International Foundation
Notes to the Financial Statements (continued)
Year ended 31 December 2022
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 January 202 | 31 December | |||
| 2 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| General funds | – | 14,644 | (8,489) | 6,155 |
| Opening Doors to a Bright Future Appeal | – | 18,571 | – | 18,571 |
| -------------- | ---------------------------- | ------------------------ | ---------------------------- | |
| – | 33,215 | (8,489) | 24,726 | |
| ============== | ============================ | ======================== | ============================ | |
| At | ||||
| At | 31 December | |||
| 1 March 2021 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| General funds | – | – | – | – |
| Opening Doors to a Bright Future Appeal | – | – | – | – |
| -------------- | -------------- | -------------- | -------------- | |
| – | – | – | – | |
| ============== | ============== | ============== | ============== | |
| Restricted funds | ||||
| At | At | |||
| 1 January 202 | 31 December | |||
| 2 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| Opening Doors to a Bright Future Appeal | 3,920 | 73,828 | (44,827) | 32,921 |
| Road to Equality Appeal | 53,239 | 2,191 | (43,028) | 12,402 |
| Educate to Lead Nepal Appeal | 1,089 | – | (8) | 1,081 |
| Women Water and Leadership Appeal | – | – | – | – |
| Education Fund for War-Torn Countries | – | 81,038 | – | 81,038 |
| ---------------------------- | --------------------------------- | ---------------------------- | --------------------------------- | |
| 58,248 | 157,057 | (87,863) | 127,442 | |
| ============================ | ================================= | ============================ | ================================= | |
| At | ||||
| At | 31 December | |||
| 1 March 2021 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| Opening Doors to a Bright Future Appeal | – | 4,532 | (612) | 3,920 |
| Road to Equality Appeal | – | 187,241 | (134,002) | 53,239 |
| Educate to Lead Nepal Appeal | – | 1,156 | (67) | 1,089 |
| Women Water and Leadership Appeal | – | 8,141 | (8,141) | – |
| Education Fund for War-Torn Countries | – | – | – | – |
| -------------- | --------------------------------- | --------------------------------- | ---------------------------- | |
| – | 201,070 | (142,822) | 58,248 | |
| ============== | ================================= | ================================= | ============================ |
- 15 -
Soroptimist International Foundation
Notes to the Financial Statements (continued)
Year ended 31 December 2022
15. Analysis of charitable funds (continued)
Opening Doors to a Bright Future Appeal
'Opening Doors to a Bright Future' is the Soroptimist International (SI) President's Appeal, 2021-2023, officially launched on 1 October 2021. Headed by SI President Maureen Maguire, 2022-23, the appeal springs from the learnings and success of many of the SI Appeals that have gone before; uniting Soroptimists, Clubs, Regions Unions and the five Federations, with the aim of delivering tangible benefits to some of the world's most marginalised women, girls, and their communities with plans to establish Appeal projects in each of the five Soroptimist Federations.
Road to Equality Appeal
'The Road to Equality' was the Soroptimist International (SI) President's Appeal, 2019-2021, headed by Past SI President Sharon Fisher focusing on taking Action and Advocating on topics affecting women and girls, including Child Marriage, Female Genital Mutilation, Domestic Violence, Rights of Older Women, Migration, and Human Trafficking.
Women Water and Leadership Appeal
'Women Water and Leadership' International President Mariet Verhoef-Cohen's Appeal 2017-2019, supported projects that educate, empower and enable women and girls, ensuring they have the capacity, experience and education needed to manage water resources and gain careers in water related professions.
Educate to Lead Nepal Appeal
'Educate to Lead Nepal' Past International President Yvonne Simpson's Appeal 2015-2017, supported projects in Nepal with a focus on improving the lives of women and girls through education, empowerment and enabling opportunities.
Education Fund for War-Torn Countries
Soroptimist International of the Americas, Taiwan Region donation for the education of women and girls from/in war torn countries. Parameters for the project are in development with applications and funding of projects expected later in 2023 or 2024.
Endowment funds
| At | At | |||||
|---|---|---|---|---|---|---|
| 1 | January 202 | 31 December | ||||
| 2 | Income | Expenditure | 2022 | |||
| £ | £ | £ | £ | |||
| Elynor Falk | Legacy | – | 91,761 | – | 91,761 | |
| ============== | ============================ | ============== | ============================ | |||
| At | ||||||
| At | 31 December | |||||
| 1 | March 2021 | Income | Expenditure | 2021 | ||
| £ | £ | £ | £ | |||
| Elynor Falk | Legacy | – | – | – | – | |
| ============== | ============== | ============== | ============== | |||
| Elynor Falk | Legacy |
The Elynor Falk Legacy is a restricted permanent endowment fund with only the interest to be used for educational programs in Israel.
- 16 -
Soroptimist International Foundation
Notes to the Financial Statements (continued)
Year ended 31 December 2022
16. Analysis of net assets between funds
| Unrestricted | Restricted | Endowment | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | |
| £ | £ | £ | £ | |
| Current assets | 30,215 | 127,442 | 91,761 | 249,418 |
| Creditors less than 1 year | (5,489) | – | – | (5,489) |
| ---------------------------- | --------------------------------- | ---------------------------- | --------------------------------- | |
| Net assets | 24,726 | 127,442 | 91,761 | 243,929 |
| ============================ | ================================= | ============================ | ================================= | |
| Unrestricted | Restricted | Endowment | Total Funds | |
| Funds | Funds | Funds | 2021 | |
| £ | £ | £ | £ | |
| Current assets | – | 97,120 | – | 97,120 |
| Creditors less than 1 year | – | (38,872) | – | (38,872) |
| -------------- | ---------------------------- | -------------- | ---------------------------- | |
| Net assets | – ============== |
58,248 ============================ |
– ============== |
58,248 ============================ |
17. Related parties
During the period the Charity received donations of £10,000 from S I (Soroptimist International) Limited, the Corporate Trustee, to cover administrative costs incurred during the year (2021: £nil). In 2021, the Charity received £103,812 representing previous appeal donations received by S I (Soroptimist International) Limited from it's five member Federations.
As noted in Note 12, the Charity was charged £5,000 (2021: £5,000) during the year by S I (Soroptimist International) Limited for administration services.
As noted in Note 13, S I (Soroptimist International) Limited also held bank balances on behalf of the Charity during the prior period once the banking arrangements were set up for the Charity. In the prior period, startup funds were provided by way of a short term loan for £20,000 plus £612 was paid by S I (Soroptimist International) Limited on behalf of the Charity. These amounts were included in other creditors in Note 14 as at the prior balance sheet date.
18. Controlling party
The Charity is under the control of S I (Soroptimist International) Limited, being the sole Corporate Trustee. S I (Soroptimist International) Limited has no individual controlling party.
- 17 -
Soroptimist International Foundation_Financial Statements for the Year Ended 31 December 2022
Final Audit Report
2023-06-01
Created: 2023-06-01 By: Martyna Wykrota (admin@soroptimistinternational.org) Status: Signed Transaction ID: CBJCHBCAABAAiiHEomBjoBMyPOi50-1wJ5gEhn2Na_YK
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