## **Trustees’ Annual Report for the period**
**From 11 April 2022 Period start date To 31 March 2023 Period end date**
## **Charity name: AKAMA**
## **Charity registration number: 1198572**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|Akama works with aspiring funders and
providers of higher education scholarships to
set eligibility criteria through AI analysed
data on societal need, identified specific
gaps, for example, students from poorer
backgrounds or industries where there is
under-representation and helps find the
talent to take advantage of these
scholarships.
Each scholarship relates to a profession
rather than a subject and students at any UK
university that match the criteria may apply.|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.|Para 1.17 and
1.19|
Akama is a philanthropy platform as a
service, documenting available scholarships,
helping funders structure and get the best
results for their funds, and building a student
ecosystem that are made aware of funds
and assisted in applying.|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|
The main activities conducted by Akama are
to raise awareness of available scholarships
to a wide student base and population via its
educational and network based platform;
work with donor companies and individuals
to efficiently set up their funds and ensure
disbursement, and raise money for its own
operations and uses.
We believe this is a public benefit as it helps
provide access to funds that are typically
underutilised or unavailable to certain
demographics of the society, it bridges the
gap between talent and access particularly in
underfunded communities that provide future
talent for under-supported industries, high
risk communities and new age industries.|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|In its first year Akama has
1.
registered as an official charity
2.
registered over 500 students
interested in applying for
scholarships
3.
completed registration for gift aid
4.
received our first donation of $10k for
scaling the platform and
5.
set up our community platform
As a result Akama was able to amplify and
publicise several reports on the barriers to
further education affecting students in the
UK.
Help several companies to understand how
to better structure and represent their
scholarships
Foster a community of over 500 students
actively seeking and applying for
sponsorship or funded internships.
Interviewed over 100 students on their
challenges obtaining funding and tested
some micro awards through the platform|
**Additional information (optional)** You may choose to include further statements where relevant about:
||||||
|---|---|---|---|---|
||Achievements against|Para 1.41|||
||objectives set||||
||Performance of fundraising||||
||activities against objectives|Para 1.41|||
||set||||
||Investment performance|Para 1.41|||
||against objectives||||
||Other||||
||||||
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of the period|Para 1.21|**Income: £7,241**
**Spending: £5,879**|
|
Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|Current draft proposed policy is to have
donors stipulate what proportion of their
donation is purely for disbursement and what
proportion is for charity administration. We
are currently evaluating charity running costs
to understand if a policy of at least 5%
donation retention is for reserves.
The Charity Commission’s guidance on this
would be invaluable.|
|Amount of reserves held|Para 1.22|**N/A**|
|Reasons for holding zero
reserves|Para 1.22|Low funds raised, self funding by founders|
|Details of fund materially in
deficit|Para 1.24|None|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|None|
## **Additional information (optional)** You may choose to include further statements where relevant about:
||||
|---|---|---|
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47||
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46||
|A description of the principal
risks facing the charity|Para 1.46||
|Other|||
||||
## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|**Constitution**|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**CIO**|
|
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**Evaluation by Board of Trustees**|
|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|
|---|---|---|
|
Policies and procedures
adopted for the induction and
training of trustees|
Para 1.51||
|The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51||
|Relationship with any related
parties|Para 1.51||
|Other|||
## **Reference and Administrative details**
|Charity name|Akama|
|---|---|
|
Other name the charity uses|Akama Fund|
|Registered charity number|1198672|
|
Charity’s principal address|Principal office: 167-169 Great Portland Street, 5th Floor,
London W1W 5PF|
|||
## **Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**
**Name of**
**person (or**
**body)**
**entitled to**
**appoint**
**trustee (if**
**any)**|
|---|---|---|---|
||Mrs Edith Ngozi
David||8 Aug 2022 - Present|
||Thelma Onyinye
Onyeka||11 Apr 2022 - Present|
||Jinmi Oluanuiga||1 July2022 - Present|
||Dr Louise
Maynard-Atem||26 Sep 2022 - Present|
|||||
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– Corporate trustees names of the directors at the date the report was approved **Director name** N/A
## Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
## **Funds held as custodian trustees on behalf of others**
|Description of the assets
held in this capacity|None|
|---|---|
|Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|N/A|
|Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets|N/A|
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|
|---|---|---|---|
|**Type of**
**adviser**
**Name**
**Address**||||
|||||
|||||
|||||
|||||
|**Name of chief executive or names of senior staff members (Optional information)**||||
|||||
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **N/A**
## **Other optional information**
## **Declarations**
## **The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s)**
**Full name(s)** Thelma Onyeka
**Position (eg Secretary,** Chair **Chair, etc)**
**Date** 30/01/2024
## **Charity Commission**
## Charity Commission Annual Return 2023
## **AKAMA**
Charity registration number: 1198572
**Most of the information you give in this form will become publicly available on the Register of Charities. Any field that the Charity Commission will not display will be clearly marked. This document is a record of the information provided in the Annual Return 2023.**
## **Financial period**
## **Financial period start date**
11/04/2022
## **Financial period end date**
31/03/2023
## **Income and spending**
## **Income £**
£7,241
## **Spending £**
£5,879
**Number of contracts from government**
**How many contracts (other than grant agreements) did your charity receive from central government or a local authority during the financial period for this return?**
0
## **Number of grants from government**
**How many grants did your charity receive from central government or a local authority during the financial period for this return?**
0
## **Income breakdown**
## **Donations and legacies (excluding Endowments Received)**
£7,241
## **Charitable activities**
£0
## **Other trading activities**
£0
## **Investments**
£0
## **Other**
£0
## **Grantmaking**
## **Is grant making the main way your charity carries out its purposes?**
No
**Recipients of grants**
## **Please round all figures to the nearest pound (do not enter decimal points or commas).Individuals**
£0
## **Other charities**
£0
## **Other organisations that are not charities**
£0
## **Trustee payments**
## **Excluding out of pocket expenses, for what were any of the trustees paid during the financial period for this return?**
5
## **Did any of the trustees resign and take up employment with your charity in the financial period of this return?**
No
## **Income from outside the UK**
## **Did your charity receive income from outside of the United Kingdom in the financial period of this return?**
Yes
## **Bahrain**
Governments or quasi government bodies outside of the United Kingdom (including European Union)
£ 0
Charities, Non-Government Organisations or Not for Profits outside of the United Kingdom
£ 0
Private Companies outside of the United Kingdom
£ 0
Individual donors resident outside of the United Kingdom
£ 6199
Unknown
£ 0
## **United States**
Governments or quasi government bodies outside of the United Kingdom (including European Union)
£ 0
Charities, Non-Government Organisations or Not for Profits outside of the United Kingdom
£ 0
Private Companies outside of the United Kingdom
£ 0
Individual donors resident outside of the United Kingdom
£ 477
Unknown
£ 0
## **Methods of overseas funding**
**How was income from outside of the United Kingdom received by your charity in the financial period of this return?(Tick all that apply)**
Businesses authorised to provide 'Payment services'
## **Delivering activities outside the United Kingdom**
**Did your charity deliver charitable activities outside of the United Kingdom in the financial period of this return?**
No
## **Spending outside England & Wales**
**Did your charity spend funds outside of the United Kingdom in the financial period of this return?**
No
## **Trading subsidiaries**
## **Does the charity have any trading subsidiaries?**
No
## **Charity contact details correct**
## **Is the contact address displayed from the Register of Charities, correct?**
Yes
## **Charity headquarters details correct**
## **Is this the same address that you use as your charity's administrative headquarters?**
Yes **Charity contact address** London Office 167-169 GREAT PORTLAND STREET 5th Floor W1W 5PF
## **Charity contact address**
## **Charity Headquarters address**
London Office 167-169 GREAT PORTLAND STREET 5th Floor W1W 5PF
## **Membership type**
## **Is the charity part of a wider group structure with a parent body and subsidiary bodies?**
no, the charity is not part of a wider group structure
## **Employment contract types**
## **People were permanently employed by your charity**
0
## **People were on fixed-terms contracts with your charity**
0
## **Self-employed people were working for your charity**
0
## **Governance policies**
## **Internal charity financial controls policy and procedures**
No
## **Safeguarding policy and procedures**
No
## **Financial reserves policy and procedures**
No
## **Complaints policy and procedures**
No
## **Serious incident reporting policy and procedures**
No
## **Internal risk management policy and procedures**
Yes
**Trustee expenses policy and procedures**
Not applicable
## **Trustee conflicts of interest policy and procedures**
Yes
## **Investing charity funds policy and procedures**
Not applicable
## **Campaigns and political activity policy and procedures**
Not applicable
## **Bullying and harassment policy and procedures**
No
## **Social media policy and procedures**
No
## **Engaging external speakers at charity events policy and procedures**
Not applicable
## **Safeguarding**
## **Has your charity provided services to children and/or adults at risk in the financial period of the return?**
No
## **External risk and impact**
## **Donations,**
Negative
## **Other income - grants**
Negative
## **Other income - contracts**
Unknown
**Other income - investment**
Unknown
## **Expenditure on charitable activities**
Unknown
## **Expenditure on overheads**
Negative
## **Number of volunteers**
Negative
## **Number of employees**
Unknown
## **Number of trustees**
Unknown
## **Fundraising activities**
Negative
## **Capacity to deliver services**
Negative
## **Total service demand**
Positive
## **Volunteers**
**Excluding trustees, provide an estimate of the number of volunteers who carried out charitable activities on behalf of your charity in the United Kingdom during the financial period of this return?**
6
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## **unconnected to the Charity Commission unless:**
- **you have consented to their release; or**
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**Declaration**
|**Your role at the charity (select one):**|**Your role at the charity (select one):**|
|---|---|
|⊠Trustee||
|**Given names**|Thelma|
|||
|**Family name**|Onyeka|
|||
|**Telephone**|07983595111|
|**number**||
|||
|**Email**|thelma@akamafund.org|
|||
|**Date submitted**|07/11/2023|
**It is a criminal offence under section 60 of the Charities Act 2011 for anyone to knowingly or recklessly provide false or misleading information to the commission; this includes suppressing, concealing or destroying documents.**