## Esmée Fairbairn Foundation **Annual Report and Accounts 2023** Esmée Fairbairn Foundation Annual Report and Accounts 2023 2 - Esmée Fairbairn Foundation aims to improve our natural world, secure a fairer future, and strengthen the bonds in communities in the UK. We do this by contributing all that we can to unlock change by people and organisations with brilliant ideas who share our goals. A Fairer Creative, Our Natural Future World Confident Communities The Foundation is one of the largest independent funders in the UK. In 2023, we provided £58.4 million in funding towards a wide range of work in support of our aims: A Fairer Future; Creative, Confident Communities; and Our Natural World. We also provide social and impact investments for organisations with the aim of creating social and environmental impact. Our funds are generated by our investment portfolio, which achieved a total return of 2.8% in 2023, bringing our main investment portfolio to £1.286bn. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future Cost of Living Governance Awards A Fairer Future Change Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation Annual Report and Accounts 2023 3 ## Contents ## **Auditors’ Report and Financial Statements** ## **Trustees’ Report** Independent auditors’ report to the Trustees of Esmée Fairbairn Foundation 79 Statement of Financial Activities 82 Balance Sheet 82 Cash Flow Statement 83 Notes to the Accounts 84 ## **Overview of Activities** Chair’s Statement 4 Funding in Partnership 56 Chief Executive’s Report 5 Cost of Living Awards 58 Funding Overview 7 TASK Fund 67 Using all our Tools 12 **Governance and** Our Investments 15 **Administration** 70 Diversity Equity and Inclusion 17 Structure, Governance Climate Change 18 and Management 72 Financial Policies 73 **Impact by Aim and Funding** Trustees, Senior Management A Fairer Future 19 Team, Committees and Advisers 74 32 Creative Confident Communities Statement of Trustees’ Responsibilities 75 Our Natural World 40 Our History 77 A Sector Fit for the Future 51 New Connections 54 Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future Cost of Living Awards A Fairer Future Investments Change ~~**“In 2023, The Advocacy Academy saw a signifcant increase in youth engagement, with over 80% of our latest cohort reporting feeling empowered to advocate for social change. This achievement refects our commitment to nurturing the next generation of activists and equipping them with the skills and confdence to drive meaningful progress in their communities.”**~~ ~~**The Advocacy Academy**~~ Governance Auditors’ Accounts Report Home Overview Diversity, Equity and Inclusion **Esmée Fairbairn Foundation: Trustees’ Report 2023** **4** ## Chair’s Statement 2023 was a year of significant activity with a record level of grant-making and social investment. In addition, the main investment portfolio continued to hold up well despite the ongoing challenging conditions globally. There were substantial changes on the Trustee Board during the year. We said a huge thank you and goodbye to four Trustees and we welcomed four new members to the Board. Our three longest-serving Trustees departed after serving a collective 53 years with the Foundation, including two former Chairs. Tom Chandos spent seven years as the Foundation’s Chair followed by five years’ chairing the Investment Committee. His immense contribution to our work and our investment approach leaves a legacy that will stretch well into the future. Sir Jonathan Phillips’ 12-year term as Trustee included three years as Chair, taking over at a difficult time following the death of James Hughes-Hallett. Jonathan’s wisdom helped guide us and was critical in the development and launch of our new strategic plan. Baroness Kate Lampard played many roles across the Foundation during her long tenure of 22 years including chairing both our Environment Sector Group and Audit and Risk Committee, and her sound counsel will be much missed. Flora Fairbairn, who had been a Trustee for three years’ also stepped down following a tragic accident that left her unable to continue in her role. We are incredibly grateful for her contribution to our work, and the thoughts of everyone at the Foundation remain with Flora and her family. They all leave us having left a lasting mark on the work of the Foundation and the thousands of organisations we have been privileged to support during their terms of office. Following a rigorous recruitment process, we are delighted to have been able to appoint three new Trustees namely Elspeth Jones, Dame Clare Moriarty and Mary Ann Sieghart, whose collective experience spans the civil service, the environment, charity, media and legal sectors. Gautham Radhakrishnan was also invited to join the Board after a number of years on the Foundation’s Investment Committee. We look forward to all of them having a positive impact on the Foundation’s work in coming years. Finally, I would like to thank my fellow Trustees and our staff team for all their hard work over the last year; with the continued environmental, social and financial challenges of the wider world, the need for the work of independent foundations remains as high as ever. **Beatrice Hollond** Chair Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home OverviewOverview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 5 ## Chief Executive’s Report **2023 was a year of rising costs and increasing challenges, so I’m pleased to be able to report that it was the year of Esmée Fairbairn Foundation’s highest ever funding spend. We also extended our strategy to 2027, making a longerterm commitment to the systemic change needed for our funding priorities. We recognise the sectors that we work with continue to face acute and multiple stresses. We have tried to use all our resources including our networks and partners, our risk appetite, our independence and flexibility, alongside our money to unlock as much positive change as we can.** We provided £57.3m[1] (2022: £36.2m) in grant funding. This includes £48.3m (2022: £34.0) in main grants to 222[2] (2022: 180) remarkable organisations and initiatives in the UK, and £7.4m for a Cost of Living Award to many of the organisations we support, with no application process. Our work in using social investment as a mechanism to support new impact-first business and investment models has grown to £12.9m (2022: £2.7m), the most we have ever approved in one year since our first investment in 1999. – In Our Natural World, our Blue Spaces Wales initiative supports people and organisations to take imaginative approaches to looking after their freshwater environments. We have also funded the RACE Report, a collaboration to speed up diversity and inclusion within the environmental sector. And using our social investment, we are supporting Woodland Savers, who work with local communities to buy British woodland, restore their ecological health, and protect them into perpetuity. Through our Creative, Confident Communities aim, we have focused on community-led change by supporting and working with organisations such as We’re Right Here, Place Matters and the funder collaboration, LocalMotion. We are also learning from organisations like Kindred LCR CIC and Plunkett Foundation about the role of circular economy models and co-operative ownership in the regeneration of places. For A Fairer Future, we are supporting organisations and collaborations dedicated to challenging and addressing inequity. For instance, we are working with other funders and key partners on supporting migrant justice through initiatives such as Justice Together, hosted by Justice Collaborations. We’re excited to be working with Baobab Foundation, a foundation led by and resourcing Black and Global Majority communities across the UK; and to provide equity to EasyPeasy, an app for parents/carers and early years professionals with personalised and accredited content and activities for pre-school children most likely to fall into the school readiness gap. 1 Includes all grants: main grants, Cost of Living Awards, Funding Plus, and TASK grants. 2 Excludes organisations awarded a Cost of Living Awards, Funding Plus or TASK grant. Home Overview Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Accounts Report Esmée Fairbairn Foundation: Trustees’ Report 2023 6 ## Chief Executive’s Report _continued_ Across all of this, we have been able to use our Tools budget for smaller but, sometimes, critical interventions such as commissioning research, and resources for convening and collaborating. As always, we remain committed to open and trusting funding practice through our long-term, unrestricted grants and flexible approach to reporting. Of our main grants last year, 70% were for core or unrestricted costs, and 66% were for three years or longer. Our investment portfolio performed well in a very difficult economic context. Performance overall for 2023 was 2.8% bringing our endowment to £1.286bn. In 2023, we changed the Terms of Reference and our Investment Policy Statement to create dual objectives for our portfolio going forward: financial return and sustainability. This recognises both the future risks of unsustainable investments but also the future opportunities in emerging and sustainable business models. support, we can absorb some of the risk and we can help in amplifying their work, but the expertise, bravery and commitment is theirs. It is likely that 2024 will also be a challenging year but we see the very best of people and our job will be to do everything that we can to support them. We are increasingly working with our Involving Young People Collective in assessments as well as our diversity, equity and inclusion work. And in response to applicant feedback, we introduced Access Payments for applicants needing accessibility-related support to apply, and pre-application Q&A webinars for people interested in our support. One of the main privileges as a Foundation is our ability to learn from and work alongside the very best of people, communities and organisations dedicated to economic, social and environmental justice. We can provide enabling or catalytic Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future Cost of Living Awards A Fairer Future Investments Diversity, Equity and Inclusion Change **Dame Caroline Mason CBE** Chief Executive Governance Auditors’ Accounts Report Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 7 Funding Overview 2023 Total grant funding Total number of main grants[4] **During 2023, the Foundation spent £58.4m[3] on work towards a wide range of work in support of our strategic aims to: secure a fairer future; strengthen the bonds of communities in the UK; and improve our natural world. This includes £604k through our Funding Plus support and £1.1m approved for Tools to support activities where we are taking a more active role.** **£57.3m 227** Social investment approved: **£12.9m** Main investment portfolio total **£1.286bn** The majority of our funding in 2023 was distributed through grants. We also approved £12.9m in social investments, and £2m in impact investments. Impact investment approved: 3 Includes all grant funding (main grants, Cost of Living Awards, Funding Plus, and TASK grants) and Tools spend. **----- Start of picture text -----**
£2.0m
**----- End of picture text -----**
4 Excludes Cost of Living Awards, Funding Plus, and TASK grants. 4 Excludes Funding Plus, TASK grants and exceptional grants. Our Natural World Climate Change Creative, Confident Communities A Sector Fit for the Future Cost of Living Governance Awards A Fairer Future Diversity, Equity and Inclusion Auditors’ Report Accounts Home OverviewOverview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 8 ## Funding Framework ## **How our funding fits our strategy** Some of our funding supports work across more than one aim, impact goal and priority. We have chosen to reflect grants and social investments in line with the aim and priority that is the closest fit. In some cases, a priority under a different aim may be the best fit. For example, in Our Natural World, we have three grants under our racial justice priority. We also support key infrastructure organisations and new ideas that contribute to our impact goals across our aims by enabling a stronger, inclusive and innovative sector. Work that meets this description is shown A Sector Fit for the Future. **----- Start of picture text -----**
A Sector Fit for
the Future
**----- End of picture text -----**
## **Impact goals by 2030** **----- Start of picture text -----**
Improved systems, policy and practice
Priorities to 2027
Arts and creativity making change
Organisations are strengthened to use their power
Children and young people’s rights
to tackle systemic injustice and inequity
Gender justice
Organisations work together and build movements
to tackle systemic injustice and inequity Migrant justice
Racial justice
Communities use their power
to make change happen
Culture and creativity build
Community-led art and creativity
thriving communities
Local economies work better
for the people who live there
Freshwater
Clean and healthy freshwater
Peat
Preserved and improved species
health and habitats Space for nature
Fishing in tandem with nature
Nature friendly farming
Sustainable and ethical food
**----- End of picture text -----**
## **Aims** **----- Start of picture text -----**
A Fairer Future
**----- End of picture text -----**
**----- Start of picture text -----**
Arts and creativity making change
Children and young people’s rights
Gender justice
Migrant justice
Racial justice
Communities working together for change
Community-led art and creativity
Community driven enterprise and regeneration
Freshwater
Peat
Space for nature
Fishing in tandem with nature
Nature friendly farming
**----- End of picture text -----**
**----- Start of picture text -----**
Creative, Confident Communities
**----- End of picture text -----**
**----- Start of picture text -----**
Our Natural World
is protected, restored,
and improved
**----- End of picture text -----**
Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Accounts Report A Fairer Future Change Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 9 **Grants** We make unrestricted, core, project, and delegated grants for charitable work in the UK. Our main grants are listed under our three main aims as well as A Sector Fit for the Future on pages 19 to 53. Core and unrestricted grants are used for an organisation’s running costs to enable them to meet their needs and priorities on their own terms. Unrestricted grants are only given to registered charities, and core grants have some restrictions on use. Project and delegated grants can only be used for the specific project the funding was awarded for. See page 10 for a split of the type of grants awarded in 2023. In 2023, we launched New Connections, a new programme to find and support organisations that could not, or would not, usually apply to Esmée due to our eligibility criteria. Organisations funded through New Connections are listed on pages 54 to 55. In addition to our main grants, Trustees also approved an additional £7.4m to many of the organisations we support in response to the rising cost of living. These are reflected as Cost of Living Awards and are listed on pages 58 to 66. ## **Social Investment[5]** We provide social investment in the form of repayable finance to charities and other social purpose organisations with the aim of creating social and environmental impact. We do this through a £60m social investment fund, whereby returns from investments made are recycled to make further social investments. As of December 2023, we had a total of £41.1m committed in in our active social investment portfolio. Investments approved during 2023 are listed under our three main aims as well as A Sector Fit for the Future on pages 31, 39, 50, and 52. Learn more about how we use social investment and the different types of investment made on pages 13 and 14. ## **Impact Investment[6]** We invest into impact funds, which align with our impact goals and aim to generate a measurable social or environmental impact as well as a financial return. Approved investments are listed under our main aims as well as A Sector Fit for the Future on pages 19 to 53. Learn more about how we use impact investment on page 14. ## **Active Portfolio** Our Active Portfolio includes all active funding relationships at 31 December 2023. Grant funding relationships are closed at the end of the agreement term. Social and impact investment relationships are closed when the financing has been repaid. ## **Funding in partnership** We want to be at the forefront of new approaches to funding – working in partnership with other funders and organisations to increase our reach, reduce duplication, and make more of a difference. In 2023, we worked with a range of partners on funds that focus on particular parts of the country as well as specific interest areas or to help tackle a specific issue. Grants are listed under our three main aims as well as A Sector Fit for the Future on pages 56 to 57. **TASK Fund** (Trustees’ Areas of Special Knowledge) **£1.0m** Total **111** – No. of grants Each Trustee has an annual TASK budget of £90k to be used for small grants within the charitable purposes of the Foundation. Grants are listed on pages 67 to 69. Learn more about the TASK Fund. |**Grants by aim7**
**2023**
**Active portfolio8**
Value (£)
Number
Value (£)
Number|**Grants by aim7**
**2023**
**Active portfolio8**
Value (£)
Number
Value (£)
Number| |---|---| ||Number| |A Fairer Future
**£17.7m**
**88**
**£69.9m**|**364**| |Creative, Confdent Communities
**£14.5m**
**46**
**£41.9m**|**144**| |Our Natural World
**£14.8m**
**82**
**£59.1m**|**251**| |A Sector Fit for the Future
**£1.3m**
**11**
**£4.0m**|**30**| |Previous strategy (2015–2019)
**£2.6m**|**10**| |**Total**
**£48.3m**
**227**
**£177.5m**|**799**| |**Cost of Living Awards**|| ||| |Cost of Living Awards
**£7.4m**
**508**|| |**Social Investments approved by aim:**|| ||| |A Fairer Future
**£3.1m**
**5**
**£8.2m**|**16**| |Creative, Confdent Communities
**£3.5m**
**6**
**£8.3m**|**14**| |Our Natural World
**£5.4m**
**9**
**£9.8m**|**17**| |A Sector Fit for the Future
**£900k**
**2**
**£2.3m**|**8**| |Previous strategy (2015–2019)
**£12.5m**|**24**| |**Total**
**£12.9m**
**22**
**£41.1m**|**79**| |**Impact Investments approved by aim:**|| ||| |Our Natural World
**£1.0m**
**1**
**£2.0m**|**2**| |A Sector Fit for the Future
**£1.0m**
**1**
**£1.0m**|**1**| |**Total**
**£2.0m**
**2**
**£3.0m**|**3**| 5 Social investments are referred to as ‘programme related investments’ in the Financial Statements. 6 Impact investments are referred to as ‘mixed motive investments’ in the Financial Statements. 7 Excludes Funding Plus and TASK grants 8 Active Portfolio as of 31 December 2023 as ‘programme related investments’ Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Governance Awards Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 10 **Grant applications[9] Grants awarded[10] Type of support Applications through Core costs Unrestricted Project costs Delegated funding our website** 227 Total expressions of interest decided: **1030** grants to 222 organisations. £18.2m Expressions of interest invited £17.1m to full proposal: **7%** 82 Success rate for applications after grants (36%) were to submitting a full proposal: **93%** organisations we haven’t funded previously **Applications for follow-on grants and those we invited** £8.9m Total expressions of interest 63 decided: **188** grants (28%) were from Expressions of interest invited applications through our website £4.0m to full proposal: **89%** Success rate for applications after submitting a full proposal: **97%** 799 active grants as of **Operations** 31 December 2023 80 78 66 3 grants grants grants grants Number of staff at Esmée: **41 Grants by size 2023** Staff Cost: **£3.1m** - 9 Doesn’t include ineligible or withdrawn applications. 3 grants - 10 Excludes Funding Plus, Cost of Living Awards, and TASK grants. - Home Overview Investments **£1,000,001+** Diversity, Equity and Inclusion 58 116 grants grants **£200,001-£1,000,0000 £60,001-£200,000** Our Natural World Climate Change Creative, Confident Communities A Fairer Future A Sector Fit for the Future 45 grants 45 5 grants grants Cost of Living Governance Auditors’ Accounts Awards Report **£20,001-£60,000 £20,000 or less** Esmée Fairbairn Foundation: Trustees’ Report 2023 11 ## **Where our funding[11] went** Most of our grants and social investments support work spanning multiple regions and countries. Funding awarded to a specific region is shown on the map. ## **UK whole** £23.3m **84** grants **7** social investments ## **More than one UK country** £7.2m **22** grants **England** £4.6m **29** grants **More than one England region** £945k **6** grants 11 Excludes Funding Plus, Cost of Living Awards, and TASK grants. Investments ## **Scotland** £3.5m **18** grants **North West** £4.5m **10** grants **6** social investments **Northern Ireland** £2.2m **6** grants **1** social investment **West Midlands** £2.5m **4** grants **2** social investments **Wales** £1.8m **13** grants **South West** £2.5m **10** grants **1** social investment Climate Diversity, Equity and Inclusion Change Our Natural World Creative, Confident Communities A Sector Fit for the Future A Fairer Future Cost of Living Awards **North East** £696k **4** grants **Yorkshire and Humber** £610k **3** grants **East Midlands** £1.2m **2** grants **1** social investment **Greater London** £4.4m **11** grants **3** social investments **East Of England** £140k **1** grant **South East** £970k **4** grants **1** social investment Governance Auditors’ Accounts Report Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 12 ## Using all our Tools ## **Tools** ## **Funding Plus** ## **£1.1m** Total 2023 In addition to providing funding, we have a Tools budget to support specific pieces of work across our aims where Esmée is playing a more proactive role by brokering alliances, convening and connecting, influencing, and removing barriers. We use it to cover a wide range of costs including commissioning research, co-design work, and convening organisations. In 2023, we approved £1.1m on Tools. Influencing and co-design work continues to be a priority, accounting for 44% of the Tools spend. Support in this area spans our aims, ranging from a pilot programme in the environment sector to increase leadership capacity and capability (£60k), to backing collective action to change the narrative around school exclusions and lost learning, influencing national policy and practice (£60k). Our work with the Involving Young People Collective (£96k) continues to develop and evolve, highlighted by the critical role of the Collective in funding assessments for Blue – Spaces Wales, and co-designing our - Youth Led Creativity programme. The largest Tools spend on connecting and convening work (£50k) supported our focus on communities experiencing racial inequity, social justice, and place, funding a series of Racial Justice Public Assemblies in UK cities to build our knowledge and improve how we resource this work in future. Tools have also been used to support our diversity, equity and inclusion (DEI) commitments. A significant research commission in 2023 (£60k) was for work to improve diversity, equity and inclusion in the marine and coastal sector, which included providing a bursary for young people from underrepresented communities to attend the Coastal Futures Conference. **----- Start of picture text -----**
6.8%
Tools spend by aim
A Fairer Future 37.6%
£421k
Creative, Confident Communities
33.7%
£246k
Our Natural World
£378k
A Sector Fit for the Future
£76k
21.9%
**----- End of picture text -----**
**£604k** Total 2023 **73** – No. of grants Funding Plus is the capacity building support we provide to organisations we fund to help them achieve greater impact. Organisations can apply for a Funding Plus grant of up to £8,500 for a range of support including strategic support and communications, training, digital, and wellbeing. Learn more about our Funding Plus support. In 2023, we spent £604k through Funding Plus. Most of this was in response to individual consultancy support requests from organisations we fund (69 grants totalling £503k), with the remainder in tailored training and peer learning opportunities. Business planning, strategic and organisational development continues to be a priority for organisations, accounting for 40% of consultancy spend. Funding Plus supported projects including the development of a net zero strategy and action plan, staff coaching and mentoring, business model research, and away day facilitation. A highlight of Funding Plus training in 2023, was the creation of a peer learning group on employing staff with lived experience. The learning journey was instigated by Peer Power and co-designed with Place Matters, both are organisations we fund. Key learning and recommendations from the group will be shared with the charity sector and funders in a report due to be published in Autumn 2024. Developing diversity, equity and inclusion policy and practice, and the mental health and wellbeing of teams, are growing areas of focus for organisations. 14 Funding Plus consultancy awards were made towards this work ranging from becoming trauma informed, to training on autism awareness and anti-racist practice and allyship. ~~**“Funding Plus has been amazing. It is extremely rare to be able to request funding part way through a funding relationship, particularly for “routine” or “unexciting” work. These are the kinds of projects that charities really struggle to fund and we are extremely grateful to be able to develop our staff team in this way.”**~~ ~~**Funding Plus recipient**~~ Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 13 ## **Social Investment** Our approach to social investment focuses on three objectives: This has resulted in an investment portfolio containing many different investment types, including a Land Purchase Facility, Equity and Community Shares. In 2023, we issued our first Guarantee Facility to support the Enterprising Communities Fund, a collaborative initiative between credit unions, social investors and local government to lend money to social businesses in Greater Manchester. **We believe that social** Our approach to social investment **investment is a powerful** focuses on three objectives: **and financially sustainable • Investing for impact: tool, which, when used** we start with the social need **alongside grants and our** and reverse engineer our **own actions can help** investment approach. **achieve our impact goals, whilst also supporting the • Influencing:** to enable **development of the social** a broader, more accessible **investment market and** and innovative social **increasing the total amount** investment market. **of funding available. Last • Learning and sharing:** for **year, we developed our** a more strategic portfolio and to **social investment strategy,** establish greater collective impact. **identifying opportunities it offers to support our mission.** ~~**“The launch of the Enterprising Communities Fund represents a milestone for the development of the social economy of our city region; another solid step in Greater Manchester becoming the social enterprise capital of the UK. For the frst time, the community wealth deposited in local credit unions will be invested in growing local social enterprises. Credit unions are natural investment partners as we also exist to serve local people and improve their life chances.”**~~ ~~**Sheenagh Young, Chair of GMCU, GM Consortium of Credit Unions and CEO of South Manchester Credit Union**~~ **Community Shares** £180k Total AP **Community Shares Convertible Note** £180k £300k Total AP Total AP **3** No. of SI’s AP **1** No. of SI’s AP **£60k** – Total 2023 **£300k** – Total 2023 **1** – No. of SI’s 2023 **1** – No. of SI’s 2023 **Bond Guarantee Facility** £930k Total AP £675k **Social Investment (SI)** Total AP **2** No. of SI’s AP **by type 1** No. of SI’s AP £41.1m **1 £675k** – No. of SI’s 2023 – Total 2023 Total Active Portfolio (AP) **79** No. of SI’s AP **Equity Quasi Equity** Commitments £2.8m **£12.9m** – Total 2023 £1.0m Total AP **22** – No. of SI’s 2023 Total AP **8** No. of SI’s AP **5** No. of SI’s AP **£600k** – Total 2023 **2** – No. of SI’s 2023 **Land Purchase Facility Loan – Secured Loan – Unsecured Fund** £5.8m £6.4m £5.6m £17.4m Total AP Total AP Total AP Total AP **7** No. of SI’s AP **11** No. of SI’s AP **18** No. of SI’s AP **23** No. of SI’s AP **£3.9m** – Total 2023 **£2.4m** – Total 2023 **£2.5m** – Total 2023 **£2.4m** – Total 2023 **5** – No. of SI’s 2023 **2** – No. of SI’s 2023 **8** – No. of SI’s 2023 **2** – No. of SI’s 2023 Investments Climate Diversity, Climate Equity and Change Inclusion A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Accounts Report Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 14 ## **Sustainable Investing** **We invest in order to finance our charitable work. We aim to grow our investments by UK inflation plus 4% to support our charitable work and to ensure we can continue contributing towards our aims for decades to come.** We use a range of sustainable investment approaches with different financial and impact goals to support our work. ||**Investments**|**Investments**|**Investments**|**Investments**| |---|---|---|---|---| |**Grant funding**|**Social investment**|**Impact investing**|**Main investment portfolio**
**£1.286bn**|| |High impact towards
our aims and priorities|High impact towards
our aims and priorities|Impact driven to support
our aims|Enhanced sustainability funds
targeting leaders in ESG
and sustainability|Focus on sustainability and minimising
conficts with our charitable objectives| |No fnancial return
**£40m to £50m**
**per year**
Spent towards our impact
goals. This includes funding
organisations advocating for
systemic change in the
investment system.
Our Board of Trustees
regularly review our funding
budget – balancing the need
now with the likely need in
future. Our budget is linked
to the value of our main
investment portfolio: we
spend around 4% on grants
and operational costs. To
account for volatility in the
market, we calculate the 4%
based on the performance
of our investments over the
previous fve years.|Low fnancial returns to
recycle for impact
**£60m**
Allocation towards our impact
goals, whilst also supporting
the development of the social
investment market. Our
approach is impact-frst,
fnancial returns are secondary.
In 2023, we approved
22 investments including:
Lighthouse Children’s Homes
to set up a not-for-proft
care home for young people,
grounded in social pedagogy;
and Woodland Savers, who
work with local communities
to buy British woodland,
restore their ecological health,
return it into community
hands and protect them
into perpetuity.
In 2024, we increased our
allocation to social investment
by £15m to £60m.|Market rate returns|Market rate returns|Market rate returns| |||**£10m**
Allocation to test the potential
to achieve market-like returns
by investing into impact funds
which align with our impact
goals, and which generate a
measurable impact.
In 2023, we approved two
investments: Blume Equity, a
climate-tech growth investor;
and Palatine Private Equity LLP,
a partner-led frm that sees
investment as a force for good
– for both planet and society.|**5%**
Allocation for funds looking
to achieve enhanced
environmental, social and
governance impact alongside
fnancial return. It supports
funds which wouldn’t normally
make it into our main portfolio
due to their small size, focus
or risk profle.
Funds added in 2023
include one focused on
new, potentially disruptive
technologies to tackle climate
change and another looking
to use litigation tools to
achieve measurable social
and environmental impact.|**95%**
We work with our advisors to identify
funds which focus on sustainable
investing and have steadily increased
the proportion we would classify as
best-in-class managers. We also made
a commitment that our investment
portfolio will be net zero in terms of
carbon emissions by 2040 at the latest.
In 2023, we updated our Investment
Policy Statement, to better refect the
fact that we want to take sustainability
considerations into account in every
investment decision.
We are members of various collaborative
engagements with other investors looking
to change company behaviour in line
with our mission. Examples include one
engaging some of Europe’s largest banks
to stop fnancing new oil and gas felds
and another encouraging global food
producers to manage biodiversity and
pollution risks within their supply chains.| Home Overview Investments Diversity, Equity and Inclusion Climate Change A Fairer Creative, Our Natural A Sector Fit Cost of Living Governance Auditors’ Accounts Future Confident World for the Future Awards Report Communities Esmée Fairbairn Foundation: Trustees’ Report 2023 15 ## Our Investments **The market value of the Foundation’s main investment portfolio at the end of 2023 was £1.286 billion (2022: £1.303 billion), a decrease of £17 million after spending. The portfolio’s total return of 2.8% in 2023 (2022: -9.6%) compared to the Foundation’s long-term investment objective (RPI+4%) which was up 9.4% during the year (versus 17.9% in 2022).** The most significant driver of our financial position is the performance of the investment portfolio which is linked to that of global financial markets. We manage the portfolio with a long term time horizon in mind, typically ten years, and falls in stock markets are likely to be times when we are looking to buy assets at depressed prices. Similarly, when valuations are high, we aim to take profits in holdings and our cash balances may rise temporarily. The key parts of our investment policy are available on our website. We monitor funds by liquidity across the portfolio and a high proportion of our assets (over 30%) are in holdings which could be sold within a very short time frame if required. This is a key area of focus for our investment committee given that a third of our assets are also in illiquid private investments. The portfolio is also very diversified – which helps to mitigate a number of the other possible risks, such as geographic or sector exposure. We engage an investment consultant to help with all aspects of asset allocation and fund selection. Results in any one year need to be seen in the context of progress over longer time horizons and we continue to look for managers with a strong team, a clear approach to stock selection and a thoughtful, longterm approach to investment. Looking back over one-year, three years, five years and since inception, the performance on an annualised basis of the portfolio against our longterm investment objectives is as per table on right. The negative forecasts highlighted by a number of commentators at the start of 2023 did not come to pass. Stock markets remained relatively resilient, especially the US, and falling inflation and renewed growth led to an improved outlook particularly in Q4. Equities were one of the best performing assets classes in 2023. expectations remain high for the largest technology companies. performance and has the effect the strong gains seen in prior years. Despite performance trailing benchmarks in the short term, the portfolio is managed with a long term time horizon in mind and contains some excellent investment funds that are well positioned to capitalise on future trends. of lifting the investment portfolio’s effective exposure to sterling. Looking ahead, central banks may come under pressure to reduce interest rates. However any recovery is likely to be fragile – geopolitical tensions are high and a particularly divisive US election in November is likely to cause significant uncertainty. We have struggled to own fixed income for a number of years due to high valuations but yields are now much more attractive and we are continually evaluating opportunities. The Foundation’s grant funding and operational costs are in sterling. However, the majority of our investments are not, and the fund benefitted from the relative strength of USD versus GBP. We run a passive currency hedging programme which reduces the impact of currency fluctuations on The portfolio’s asset allocation at the end of the year was as per table below. However, returns were driven by the performance of a small number of very large technology companies in the US – fewer than ten stocks were responsible for nearly half of the return of global markets. For a number of large global indices, the majority of stocks did not perform better than the underlying benchmark – making it a very difficult for investors focused on active stock picking. Valuations and growth Our main global equity funds were up 15.2% during the year, versus their benchmark which was up 16.8%. Our non-core global funds were up 16.3% versus their benchmark which was rose by 3.6%. Our smaller hedge fund allocation was flat over the year and our private investments, which represent around a third of the fund, were down 11.0% reversing some of |
For a number of large global indices,
the majority of stocks did not
perform better than the underlying

16.3% versus their benchmark which
was rose by 3.6%. Our smaller hedge
fund allocation was fat over the year
and our rivate investments which|
programme which reduces the
impact of currency fuctuations on| |---|---| |benchmark – making it a very diffcult
for investors focused on active stock
picking. Valuations and growth
p ,
represent around a third of the fund,
were down 11.0% reversing some of
Annualised
performance over
Actual
return %
Target return
(UK RPI+4%) %
Over/(under)
performance %
1 year
**2.8**
**9.4**
**(6.6)**
3 years
**7.3**
**13.0**
**(5.7)**
5 years
**8.9**
**10.0**
**(1.1)**
10 years
**8.9**
**8.3**
**0.6**
since inception (2000)
**7.1**
**7.6**
**(0.5)**|2023 %
2022 %
Change +/-%| ||Return Drivers| ||Global equities
**39.3**
**33.3**
**6.0**| ||Emerging equities
**3.7**
**3.5**
**0.2**| ||Private investments
**32.3**
**36.7**
**(4.4)**| ||Hedge funds
**6.2**
**8.7**
**(2.5)**| ||Diversifers| ||Low volatility funds
**11.9**
**12.5**
**(0.6)**| ||Cash| ||Investment cash
**6.1**
**4.6**
**1.5**| ||Currency hedge
**0.5**
**0.7**
**(0.2)**| Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 16 ## Our Investments During 2023, we rewrote our Since 2017, we have had a specific investment policy statement to allocation for funds which we hope emphasise the importance of will achieve enhanced ESG impact sustainability in the way that we alongside financial return but invest. This was a chance to formalise which may not naturally fit within some of our existing practices and a portfolio like ours due to their also to be more explicit about smaller size, focus or risk profile. which investments we favour. During 2023, we added funds specialising in disruptive climate Areas where there is likely to solutions technology and be good alignment with our strategic litigation. Within our investment portfolio we aim to be proactive asset owners by engaging with companies on issues that are aligned with our funding priorities. We work with other foundations and investors through the Charities Responsible Investment Network and look for opportunities to promote corporate behaviour which is in the interests of long term shareholders and we join various collaborative investor engagement initiatives where they align with our strategic aims. Recent examples have included an initiative encouraging UK companies to pay the Living Wage and another focused on engaging the banks sector to end their funding of fossil fuel projects. We have made a commitment that our investment portfolio will be net zero in terms of carbon emissions by 2040 at the latest. We are working with our investment advisors to achieve this and have four priorities: 1) To invest in “climate solutions” which enable emissions to be avoided or reduced. Areas where there is likely to be good alignment with our strategy include renewable energy, biodiversity preservation and restoration, decarbonisation, social justice and thematic funds focusing on water, food and communities. 2) To be a supportive shareholder to higher emissions businesses which have set a plausible path to Paris alignment for their own activities and holding them to account for delivery. In 2023, we continued to make investments into a relatively new £10m allocation for Impact Investing, managed by our social investment team and working in conjunction with our investment consultants. We are using this pilot to inform our longer-term investment strategy. The starting point for our impact investing decisions is the intent to generate positive, measurable social and environmental outcomes (the impact) alongside the achievement of financial returns. Investments to date have included a fund focusing on innovation in the food sector and another tacking issues such as job inequalities across the UK. Funds that don’t align with our strategy include those with high exposure to long-lived fossil fuel production, those with a significant holdings in heavy CO2 emitters, funds contributing to biodiversity loss and funds with holdings classified as breaches of the UN Global Compact. - 3) To actively use proxy voting and engagement to encourage businesses to adopt appropriate plans to decarbonise, where these are absent, as in most cases today. The Foundation is a signatory to the United Nations’ Principles for Responsible Investment (UNPRI) and to the UK Funder Commitment on Climate Change. We are one of a growing number of foundations who recognize that the growing climate emergency is a serious risk to the pursuit of our charitable aims. - 4) To support efficient capital allocation in each of the preceding activities. We continue to transition our portfolio to managers who place ESG (environmental, social and governance) considerations and sustainability at the centre of their investment process. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Investments Diversity, Equity and Inclusion Change The evidence continues to build that there is no path to a prosperous and sustainable economy without tackling climate change. A paper produced in July 2023 by the UK’s Institute and Faculty for Actuaries in partnership with the University of Exeter wrote that there was “…a compelling logic for net zero becoming part of fiduciary duty, as if we do not mitigate climate change, it will be exceptionally challenging to provide financial returns.” Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 17 ## Diversity, Equity and Inclusion **Social justice is core to our work and we believe that understanding and making progress towards diversity, equity, and inclusion (DEI) is critical for delivering our mission.** **Who is our funding reaching** The following chart reflects data about the communities our funding supports and the leadership[1] of the organisations we funded in 2023. The chart focuses on population groups that face structural inequity because of their identity or lived experience, and are most relevant to our strategy. To help us understand who our funding is reaching, we use the DEI Data Standard. Since 2021, we have asked organisations we fund and those applying to us to complete a DEI monitoring form. We want to use the information we gather to help us identify structural inequity in our funding practice and inform our funding strategy. We have a DEI action plan to help because of their identity or lived in our funding practice and inform us track our progress, which we experience, and are most relevant our funding strategy. regularly review, committing to to our strategy. further actions and sharing them We also carry out an annual survey The data includes information on on our website alongside our actions of Trustees and staff to help us 202 (89%) main grants approved so far. Key actions in 2023 included track progress on the diversity of in 2023[13] . The data is also appointing a DEI Coordinator our people. In 2023, we also asked intersectional so our funding may to support activities across the a question on salary to help us appear in more than one category. organisation, the launch of our understand our gender and ethnicity New Connections programme, pay gaps. See our Who is our funding reaching and offering Access Payments report for more information. - See the diversity data of Esmée towards accessibility related support Trustees and staff. for applicants. We want to build on this work and welcome feedback, which you can email to: communications@ esmeefairbairn.org.uk. We’re also keen to encourage other funders to collect and share their funding data. Learn more about our commitments and our progress towards DEI. 12 To classify our data, we define an organisation as being ‘led by’ a particular population group when 75% or more of the Board/Management Committee AND 50% of senior staff share a particular identity or experience, where staff exist. 13 The data doesn’t include Funding Plus, Cost of Living Awards, and TASK grants. **Communities Leadership supported** |||||| |---|---|---|---|---| ||Number
of grants|**Total (£)**|**Leadership**|**Communities**
**supported**| |Communities|38|**£9.6m**||| |experiencing
racial inequity|47|**£11.5m**||| |Disabled people|17|**£3.1m**||| ||17|**£3.1m**||| |Educationally|9|**£1.8m**||| |or economically||||| |disadvantaged|34|**£7.4m**||| |LGBT+ people|7|**£1.3m**||| ||12|**£1.9m**||| |Migrants|27|**£5.0m**||| ||28|**£5.8m**||| |Older/Younger|5|**£783k**||| |people|22|**£4.4m**||| |Women and girls|42|**£7.5m**||| ||26|**£5.0m**||| |No specifc group|104|**£20.3m**||| ||113|**£21.6m**||| Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Accounts Report Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 18 ## Climate Change ## **In everything we do, we are committed to addressing the causes and impacts of Climate Change.** In 2023, our funding towards our goals in Our Natural World as well as work to address climate change totalled £25.9m[14] . This includes all related grant funding, social and impact investments, as well as spending using our Tools budget. In addition to funding in our priorities for Our Natural World, this includes work that contributes to our priorities in Creative, Confident Communities and our support for infrastructure. We continue to look for opportunities to support a fairer and just environment movement. During the year, we focused on a range of activities including: - Together with the Environmental Funders Network, we hosted another year of learning workshops for 15 Environmental Finance and Learning Fund participants. Our mid-term review of the programme shows promising results – 58% of participants report that they have already increased their environmental investing as a result of their participation, and 75% report increased confidence. - We supported the Climate Coalition, a network of over 130 organisations including the National Trust, Oxfam and the Women’s Institute to mobilise their members and demand more ambitious action on Climate Change. - As well as being a signatory and funder of the RACE Report, we ask all environment and conservation organisations awarded funding from Esmée to engage with the initiative. - We are proactively finding and supporting environment organisations led by, and for, communities experiencing racial inequity, as well as organisations whose work links both environmental and sustainability issues with those from economically and culturally marginalised communities. For example, in 2023, we supported All the Elements Outdoors, Radical Ecology, Black Girls Hike, and Granville Community Kitchen. - A key focus in our Creative, Confident Communities work is local circular economies. Examples of work we supported include Action on Empty Homes, Kindred LCR CIC, and Greater Manchester Community Renewables Ltd. - We updated our Investment Policy Statement to better reflect the fact that we want to take sustainability considerations into account in every investment decision and have specified funds we are looking to avoid such as those with high exposure to longlived fossil fuel production. We also specify areas where there is likely to be good alignment with our strategy such as biodiversity preservation and decarbonisation. Learn more about the actions we have taken over the last year. ## **Funder Commitment on Climate Change** We are a founder signatory to the Funder Commitment on Climate Change. As such, we commit to: **1.** Educate and learn **2.** Commit resources **3.** Integrate **4.** Steward our investments for a post-carbon future **5.** Decarbonise our operations **6.** Report on progress 14 This total includes relevant funding listed in our aim for Creative, Confident Communities, Funding Plus, Cost of Living Awards, and TASK grants. Home Overview Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Esmée Fairbairn Foundation: Trustees’ Report 2023 19 ## A Fairer Future **We want to provide the support and space to enable others we work alongside to create lasting change, and to challenge systems that stand in the way. We want to contribute to a socially just and anti-racist society, where people have their rights protected, as well as the opportunity to speak and be heard, and the freedom to express their creativity. And across all our work in A Fairer Future, we are keen to support organisations led by the people they serve.** and connect lived experience, frontline delivery, and influencing strategies. Using our Tools budget, we supported collaborative campaigns around child outcomes in the early years and to reduce lost learning for young people being suspended or excluded from school. We also supported the development of a blueprint for change to tackle the increasing number of women in the criminal justice system, as well as the sixth year of our Young People Leaving Care Learning Programme. This included specific work with the Department for Education around employability, work with local authorities on care experience as a protected characteristic, and work to support the learning from Staying Close for young people leaving children’s homes. 2023 was the first full year of funding under our updated strategy for A Fairer Future, resourcing brilliant organisations tackling deeply entrenched social justice issues. Under our Racial Justice priority[15] , we awarded £4.9m to organisations including Baobab Foundation, Ubele Initiative, Black Equity Organisation, Enact Equality, Do it Now Now, and Action for Race Equality. We know we have a lot to learn as we fund more intentionally in this space, and look forward to working with funded partners to think about what more Esmée can do to challenge racial inequity. 76% of the organisations we have funded this year in A Fairer Future are led by the people they serve, something we are keen to prioritise. We are also keen to build movements and collaborations to create change. This year, we funded the Child Law Network and the Alliance of Youth Organising, as well as contributing to Justice Together, a funder collaboration to build access to justice Our Natural World Climate Change Creative, Confident Communities Diversity, Equity and Inclusion ~~**“In 2023, Action for Race Equality hosted two events in collaboration with one of our partners, Wipers CIC and their Youth Advisory Board, as part of our Criminal Justice programme. We discussed the gang’s violence matrix as part of our ongoing campaign about the discriminatory database, which we are glad has now been shut down. The insight and experiences of young Black, Asian, and Mixed Heritage people from forums like this are crucial in informing the conversations we have had with decision makers.”**~~ ## ~~**Action for Race Equality**~~ - 15 In addition to our funding in A Fairer Future, we also made three grants under Racial Justice as part of our work towards Our Natural World, which are detailed on page 49. A Sector Fit for the Future Cost of Living Governance Awards Auditors’ Report Home Overview A Fairer Future Accounts Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 20 ## A Fairer Future ## **Grants and social investments[16]** ## Total funding approved in 2023 **£21.2m** ## ~~**Main grants**~~ Total No. of grants **£17.7m 88** ## ~~**Social Investments**~~ Total No. of investments **£3.1m 5** ~~**Tools**~~ Total **£421k** ## **Priority** Arts and creativity making change Children and young people’s rights Gender justice Migrant justice Racial justice[17] **----- Start of picture text -----**
No.
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20 32 15 15 **----- Start of picture text -----**
11
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£
£3.0m
including 1 social investment
£7.0m
including 3 social investments
£2.5m
£3.4m
£4.9m
including 1 social investment
**----- End of picture text -----**
16 Includes relevant New Connections grants and partnership funds listed on pages 54 to 57. 17 In addition to our funding in A Fairer Future, we also made three grants under our Racial Justice priority as part of our work towards Our Natural World. These grants are detailed on page 49. Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Esmée Fairbairn Foundation: Trustees Report 2023 **21** ## A Fairer Future **grants** Arts and creativity making change **Alphabetti Theatre £60,000 over 2 years** Towards project costs to support development of the organisation’s model of diverse artist development in the North East. ## **Black Curatorial** **£60,000 over 2 years** Towards project costs of postproduction of a documentary film in year one and supporting core costs for the organisation in year two. ## **Chineke Foundation** **Disability Arts in Shropshire £150,0000 over 3 years** Towards unrestricted core costs for The Future Curators Programme 2023 to 2026, a residency programme for Disabled curators within visual arts institutions. **£177,000 over 3 years** Towards unrestricted core costs to offer placements to aspiring Black and ethnically minoritised arts professionals, helping to build more inclusive classical music. **Clore Leadership £200,000 over 3 years** Towards core costs for increasing diversity in cultural leadership, with a focus on developing the potential of D/deaf, disabled leaders and those from communities experiencing racial inequity. **Hackney Empire Ltd £120,0000 over 3 years** Towards core costs to support the role of Head of Learning and Participation. **New Diorama £78,8130 over 3 years** Towards core costs supporting a programme elevating a generation of talented, historically underrepresented theatre artists and companies. ## **Culture&** **£20,645 over 1 year** Towards project costs for a partnership project with the University of Leicester to increase the number of early career heritage professionals from minoritised backgrounds with postgraduate qualifications. **New Earth Theatre Limited £90,0000 over 3 years** Towards core costs to make sustainable creative pathways for British East and South East Asians in the North of England. Climate Creative, Confident Communities A Fairer Future Diversity, Equity and Inclusion Change ~~**“Poetic Unity is a safe haven for me, its become a place where I can always be my authentic self.”**~~ ~~**Young Person**~~ **Watch a short f ’s lm about Poetic Unity collaboration with Save the Children, which brings together a group of young Black people to write and perform a poem about the impact of the cost of living crisis.** Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 22 ## A Fairer Future **grants** ## **New Writing North** **£138,0000 over 3 years** Towards core costs to create a new way of enabling meaningful, co-produced, and sustained change in equal access for working-class and other marginalised writers into the professional writing industries. ## **Open Up Music** **£262,2480 over 3 years** Towards unrestricted core costs to support expansion of orchestral opportunities and progression routes in the music industry for young disabled musicians. ## **Poetic Unity** **£180,0000 over 3 years** Towards unrestricted core costs of an organisation working to give a voice to the voiceless, using poetry as a tool to support mental health, education and personal development. ## **Sheffield Theatres** ## **The Paraorchestra** ## **Urban Development** **£280,000 over 2 years** **and Friends** ## **Music Foundation** **£300,000 over 3 years** Towards unrestricted core costs to drive transformational change for D/deaf, disabled and neurodivergent professional musicians and music makers. **£132,000 over 3 years** Towards core costs of a national youth music organisation for Black music, offering a pathway from school or youth access to professional careers for young people experiencing racial inequity or socio-economic disadvantage. Towards project costs for continuation of Ramps on the Moon to mainstream anti-ableist practice in the performing arts sector. ## **Tamasha Theatre** **Company Limited** **£150,0000 over 3 years** Towards unrestricted core costs to grow and enhance Developing Artists and creative programming initiatives, alongside organisational growth, to advance equitable practice across the sector nationally. ## **The Samosa Media** **£118,000 over 2 years** Towards project costs supporting the development of a cohort of young creative leaders from communities experiencing racial inequity. ## **We Are Impact CIC** **£180,000 over 3 years** Towards core costs of influencing the design of vocational training and the delivery of national music education policy whilst working with the commercial music industry on accessible career pathways. ## **Tara Arts Group Ltd** **£60,000 over 1.5 years** Towards unrestricted core costs to support the Company through a transitionary period while supporting the work of South Asian theatre practitioners and developing work within Tara’s local community. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Investments Diversity, Equity and Inclusion Change Children and young people’s rights **Alliance for Youth Justice** **£195,000 over 3 years** Towards core costs for working to reimagining justice for children and young people, supporting the salary of the Chief Executive to lead its collaboration of organisations to influence change in policy and practice. ## **Become** ## **£225,000 over 3 years** Towards unrestricted core costs to support an end to the care cliff and influence positive changes to the care system. Cost of Living Governance Awards **Catch 22 (National Leaving Care Benchmarking Forum) £148,879 over 3 years** Towards core costs to increase capacity of the National Leaving Care Benchmarking Forum to co-design leaving care support with care experienced young people. **Children and Families Across Borders CFAB £200,000 over 3 years** Towards unrestricted core costs to support CFAB’s policy and public affairs work. **Children England** **£20,000 over 6 months** Towards unrestricted core costs to support Children England to close well, sharing its learning and that of the young leaders of the ChildFair State Inquiry with the sector. Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 23 ## A Fairer Future **grants** **Children’s Law Centre (Northern Ireland) £252,000 over 3 years** Towards unrestricted core costs for an organisation using the law to protect children’s rights with a particular focus on migrant children, disabled children and children experiencing socio-economic disadvantage. **Civic Power Fund £200,000 over 2 years** Towards core costs to support the development of the Alliance for Youth Organising, to act as an intergenerational collective working together to strengthen youth organising infrastructure. ~~**“The Alliance for Youth Organising is an intergenerational collective, which will invest to build and grow youth organising infrastructure. The hard work is still to come, but we have selected the nine-members of the Alliance and hosted their frst team-building retreat. We are in awe of the skills, talent and passion of the collective and the vision they are starting to develop.”**~~ ~~**Alliance for Youth Organising (Civic Power Fund)**~~ Our Natural World Climate Creative, Confident Communities A Fairer Future Investments Diversity, Equity and Inclusion Change A Sector Fit for the Future ## **Communities** **Empowerment Network £60,000 over 1 year** Towards unrestricted core costs to help stablise an organisation addressing issues of exclusion through empowering parents and advocacy support. **Community Law Advice Network £400,000 over 4 years** Towards unrestricted core costs to provide specialist legal support to children and young people in Scotland, improving systems and practice, and build movements to tackle systemic injustices across the UK. **Coram Family and Childcare Ltd £160,000 over 2 years** Towards unrestricted core costs of an organisation supporting parents seeking better childcare and early education for children with special educational needs and disabilities (SEND). Cost of Living Awards Governance **Drive Forward Foundation £200,000 over 3 years** Towards unrestricted core costs of an organisation empowering care-experienced young people to achieve their full potential through sustainable and fulfilling employment, and use their experiences to influence policy change. **Ecpat UK** **£60,000 over 1 year** Towards unrestricted core costs to boost collaborative efforts to challenge the practice of housing migrant children without appropriate support in Home Office-run hotels. **Football Beyond Borders** **£150,000 over 3 years** Towards unrestricted core costs to support us with the development of a national training programme for school-based, culturally competent, relational practitioners. Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 24 ## A Fairer Future **grants** **Greater Manchester Immigration Aid Unit £199,912 over 3 years** Towards unrestricted core costs to support children in, and leaving care, with unresolved immigration status and to influence Local Authority practice. ## **Include Youth** **£200,000 over 3 years** Towards unrestricted core costs to promote best practice for careexperienced young people and unaccompanied minors moving into employment and education, using their voices and experiences to create change. **Independent Provider of Special Education Advice (IPSEA) £195,000 over 3 years** Towards unrestricted core costs to strengthen IPSEA’s capacity to protect, promote and uphold the rights and entitlements of children with special educational needs and disabilities (SEND), and drive forward its work to reach the groups most in need. ## **Intercultural Youth Scotland** **£196,736 over 3 years** Towards unrestricted core costs for creative, advocacy, and influencing work with young Black people and young People of Colour. **JustRight Scotland £300,000 over 3 years** Towards unrestricted core costs to defend and extend the rights of marginalised communities in Scotland. ## **Kinship** **£230,000 over 3 years** Towards unrestricted core costs of Changing the System, Changing Lives: Working hand in hand with kinship carers to influence Government and create a fairer future for children in kinship care. ~~**“JustRight Scotland changed my life, because what I’m now and what I have today is because of them: my status, my family, my future. JustRight Scotland had a life changing impact on me.”**~~ ~~**Muhammad, a client of JustRight Scotland**~~ **Watch a short flm about JustRight Scotland and their work.** ~~**“We’re proud of infuencing the development of the frst National Kinship Care Strategy in England, which was launched December 2023. This strategy marks a step change in the recognition of kinship families. Over 400 kinship carers – almost half of respondents – responded to the Government’s consultation and we’re proud to have supported so many of them to shape the Strategy.”**~~ ~~**Kinship**~~ Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 25 ## A Fairer Future **grants** ~~**“For Baby’s Sake [Trust] works because trauma-informed practitioners give families the support to turn their lives around.”**~~ ~~**Baroness Hilary Armstrong**~~ **Watch a short flm about the impact of For Baby’s Sake Trust’s work.** Home Overview Investments Diversity, Equity and Inclusion ## **Parent-Infant Foundation** ## **Leaders Unlocked** **£254,381 over 3 years** ## **£230,000 over 3 years** Towards project costs to support leadership opportunities for young people with lived experience of the youth justice system, and to equip them with the skills and tools to create and lead change. Towards unrestricted core costs to transform the mental and physical health and life chances of disadvantaged babies. ## **Rekindle School Ltd** **£195,000 over 3 years** Towards unrestricted core costs of the Rekindle School, supporting expansion and developing a Rekindle Foundation to develop youth-led research, training and support spaces regarding UK education. ## **My Life My Say £180,000 over 3 years** Towards unrestricted core costs for the Squad Leadership Programme: a comprehensive capacity-building and leadership programme to equip socially-excluded youth with the tools to lead change in society. **S.M.I.L.E-ing Boys CIC £150,000 over 3 years** Towards core costs to address the mental health needs of Black boys, challenge their negative portrayal in the media and undertake strategic work to tackle policies and practices which impact them disproportionately. **National Network for the Education of Care Leavers £120,000 over 3 years** Towards unrestricted core costs to contribute to core costs while the Network continues to grow its strategic programme and build longer-term sustainability for the organisation. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Change ## **The For Baby’s Sake Trust** ## **£200,000 over 3 years** Towards unrestricted core costs to create and share the evidence of what it takes to empower lasting change for the most disadvantaged babies, children and families; and drive wider practice, system and policy change. ## **We Belong** **£195,000 over 3 years** Towards unrestricted core costs of a young migrant-led campaigning and support organisation. ## **Who Cares? Scotland** ## **£210,000 over 3 years** Towards unrestricted core costs to implement its new strategy in pursuit of a lifetime of equality, respect and love for care-experienced people. Cost of Living Awards Governance **YMCA George Williams Company £180,000 over 3 years** Towards unrestricted core costs of an organisation working to strengthen the youth sector by building capacity, leading collaboration and providing accessible resources to improve impact and quality evaluation a nd youth voice. Auditors’ Report Accounts Esmée Fairbairn Foundation: Trustees’ Report 2023 26 ## A Fairer Future **grants** **IKWRO – Women’s Rights Organisation** Gender justice **£180,000 over 3 years** Towards unrestricted core costs for communications and campaigning work to protect the rights of Middle Eastern and North African women who are experiencing violence and abuse in the UK. **Centre for Women’s Justice £200,000 over 3 years** Towards unrestricted core costs to challenge discrimination in the criminal justice system around male violence against women and girls. **Killed Women £150,000 over 3 years** Towards core costs for work led by bereaved families towards prevention, justice and better support. ## **Latin American** ## **FiveXMore** **Women’s Rights Service £165,000 over 3 years** Towards unrestricted core costs so migrant women can lead systemic work to address abuse and exploitation. ## **£60,000 over 2 years** Towards core costs to increase staff capacity and elevate the impact of current projects and activities to improve Black maternal health outcomes in the UK. **Muslim Women’s Network UK £198,000 over 3 years** Towards unrestricted core costs to advance equality for Muslim women and girls through advocacy. **One Small Thing £150,000 over 3 years** Towards unrestricted core costs to deliver systemic change for women and their children in contact with the criminal justice system. ## **Safelives** **£180,000 over 3 years** Towards project costs to develop pilot programmes of culturally specific and LGBTQ+ specific domestic abuse perpetrator services. **Standing Together Against Domestic Abuse** **£10,000 over 6 months** Towards project costs to support the development of the Faith & Violence Against Women and Girls (VAWG) coalition. ~~**“We challenge deep rooted power dynamics in the VAWG (Violence Against Women and Girls) sector by modelling equitable working and co-production between a White-led organisation and a Black and minoritised ‘by and for’ agency. As part of this work, we bring together statutory, non-statutory and ‘by and for’ organisations to support partnership working through a more equitable framework.”**~~ ~~**Standing Together Against Domestic Abuse**~~ Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 27 ## A Fairer Future **grants** ## **The Kite Trust** ## **Welsh Women’s Aid** **Asylum Matters £180,000 over 3 years** Towards unrestricted core costs to support local and national campaigning to improve asylum in the UK. ## Migrant justice **£189,150 over 3 years £165,000 over 3 years** Towards unrestricted core costs Towards unrestricted core costs to to establish an advocacy and policy deliver preventative community strand to tackle the inequalities interventions and influencing work experienced by trans and non-binary that will help to reduce gender-based youth and affect positive change. violence, while also centring work to better support deaf survivors. **Bail for Immigration Detainees (BID)** **The Women’s Budget Group £198,000 over 3 years** Towards core costs to increase progress towards a gender equal, green and caring economy. ## **AFRUCA –** **£200,000 over 4 years** Towards unrestricted core costs for legal advice and self-help legal advice provision on bail and deportation for people detained under the Immigration Act. ## **Women in Prison** **Safeguarding Children £198,000 over 3 years** Towards unrestricted core costs of the UK BME Anti-Slavery Network who support community organisations working on human trafficking and modern slavery to improve outcomes for survivors. **£300,000 over 3 years** Towards unrestricted core costs to amplify the voice, power, agency and lived experience of diverse women to influence change in the criminal justice system. ## **The Women’s Centre Cornwall LTD** **£150,000 over 3 years** Towards project costs for The DIVAS, group of women with learning disabilities and autism fighting for their rights against discrimination and abuse; and get their voices heard, to campaign against sexual and domestic abuse. ## **Committee on the** **Administration of Justice** **Women’s Equality Network Wales** **£175,447 over 3 years** Towards project costs for partnership work between Committee on the Administration of Justice and North West Migrants Forum, to protect the rights of migrants and people experiencing racial inequity in Northern Ireland. **Anti Trafficking and Labour Exploitation Unit (ATLEU) £190,000 over 3 years** Towards unrestricted core costs to partner with migrant and refugee survivors of trafficking to tackle systemic injustice and build a more just legislative framework through strategic litigation and collaborative policy work. **£192,900 over 3 years** Towards unrestricted core costs to strengthen capacity to deliver strategic priorities of diverse and equal leadership, stronger protection for women’s human rights and making care fair. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Diversity, Equity and Inclusion Change ~~**“We are proud of the collaborative work that North West Migrants Forum and Committee on the Administration of Justice have carried out during 2023. Our innovative partnership project on the UK-Ireland ‘Common Travel Area’ is working to tackle little understood systemic racial injustice issues, in the context of the land border on the island of Ireland.”**~~ ~~**Committee on the Administration of Justice**~~ Cost of Living Awards Governance Auditors’ Accounts Report Home Overview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 28 ## A Fairer Future **grants** ~~**“The Justice Together Initiative (JTI) is a unique collaboration launched in 2020 with a decade-long vision to ensure that people who use the UK immigration system can access justice fairly and equally.”**~~ ~~**Justice Collaborations**~~ Diversity, Equity and Inclusion ## **Counterpoint Arts** **£190,000 over 3 years** Towards unrestricted core costs to enable work on diversifying and mainstreaming experiences of displacement and migration through ambitious arts-centred and collaborative approaches. **Global Dialogue £200,000 over 4 years** Towards core costs for Migration Exchange (MEX) which cultivates insight, connection and action across the UK migration and refugee field, working together with civil society to achieve positive change. ~~**“JTI (Justice Together Initiative) funding enabled the launch of a new fagship campaign which has expanded signifcantly and supported the creation of decentralised campaigns led by people who have experienced the immigration system.”**~~ ~~**Grantee Partner for the Justice Together Initiative**~~ Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Change ## **Hope Not Hate Charitable Trust** ## **£174,000 over 3 years** Towards project costs for responding to far-right attacks, anti-migrant hate, extreme misogyny, and Trans hate. ## **Justice Collaborations** **£750,000 over 3 years** Towards delegated grant-making and costs of the Justice Together Initiative, a collaboration to improve access to legal advice to those using the UK immigration system. Cost of Living Awards Governance **Kanlungan Filipino Consortium** **£150,000 over 3 years** Towards unrestricted core costs to support the Filipino and East and Southeast Asian community, and for advocacy work to push for systems which better protect them from abuse and exploitation. ## **POMOC** **£189,150 over 3 years** Towards core costs to build Eastern European migrant power in the UK through a local-to-national organising approach. Auditors’ Report Accounts Home Overview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 29 ## A Fairer Future **grants** **Praxis Community Projects £222,850 over 3 years** Towards unrestricted core costs to work in partnership with people with lived experience of the migration system to influence long-term, effective policy change that reduces discrimination of people who have migrated. **Scottish Refugee Council £300,000 over 3 years** Towards unrestricted core costs to support refugees and those seeking asylum in Scotland, and to influence policy and practice and strengthen the voice of lived experience within its work. **The Voice of Domestic Workers £135,000 over 3 years** Towards unrestricted core costs to support migrant domestic workers campaign for better policy and protection. **Rainbow Migration £150,000 over 3 years** Towards unrestricted core costs to support LGBTQI+ people through the asylum system and immigration system, and to influence policy and practice. ~~**“Rainbow Migration has saved my life! They offer more than help and guidance. They give you love, compassion, and respect.”**~~ ~~**Hiba, a trans woman from Pakistan, granted asylum in 2023**~~ **Watch a short film looking back at Rainbow Migration’s year.** Overview Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Diversity, Equity and Inclusion Change ~~**“The best thing about the Voice of Domestic Workers activities I have attended is that I am gaining the confdence to speak in public not only for myself but also on behalf of all migrant domestic workers in the United Kingdom.”**~~ ~~**Voice of Domestic Workers member**~~ Cost of Living Awards Governance Auditors’ Report Accounts Home Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 30 ## A Fairer Future **grants** ## Racial justice ## **Action for Race Equality £300,000 over 3 years** Towards unrestricted core costs to support policy work in tackling systemic racism in the criminal justice system. ## **Baobab Foundation** ## **£1,500,000 over 3 years** Towards core costs for a new type of foundation that aims to support, grow, and strengthen groups and organisations led by and serving Black and Global Majority people across the UK. ## **Black Equity Organisation** ## **Enact Equality** **£300,000 over 4 years** **£240,000 over 4 years** Towards unrestricted core costs to improve the lives of Black communities in the UK, by tackling systemic injustice and inequity as it pertains to racial justice. Towards core costs to support Enact Equality’s national campaign, policy and advocacy work to advance racial justice and equality in the UK. ## **Friends Families and Travellers** **£199,500 over 3 years** Towards unrestricted core costs to support and build capacity within specialist Gypsy, Roma and Traveller organisations and ensure that their voice and evidence is represented at a strategic level informing wider change. ## **Do It Now Now** ## **£225,000 over 3 years** Towards project costs for charitable programmes in the UK to support Black entrepreneurship, leadership with increased and diversified income streams for Black-led organisations. ~~**“We’ve built the capability to distribute grants, making us one of the largest redistributors of wealth to Black-led organisations in the UK. Membership grew from 300 to 700 members in under a year and we continue to build out our operaional infrastructure, establishing fnancial management, administrative systems, and reporting procedures.”**~~ ## ~~**Baobab Foundation**~~ ## **Race Equality Network (REN)** ## **£200,000 over 3 years** Towards unrestricted core costs for REN, an infrastructure organisation and the strategic lead for ethnic minorit- led voluntary and community sector organisations. ## **The Coalition for Racial** **Equality and Rights £150,000 over 3 years** Towards unrestricted core costs to secure racial justice for school pupils facing racism through provision of advocacy and advice to parents and carers raising complaints, and through local and national policy interventions to improve practice. ## **£150,000 over 3 years** ## **UNJUST CIC** ## **£180,000 over 3 years** Towards core costs to address discrimination in policing and the criminal legal system. **Voice4Change England Limited £200,000 over 1.5 years** Towards core costs for the Pathway Social Investment Fund Development Phase. ~~**“...mission-driven organisations across the country are ready and willing yet unable to achieve their missions due to the continuation of systemic underfunding and targeted underresourcing patterns that Black and Global Majority communities have faced… Through this funding, and others that Pathway will empower, our communities will begin to bridge the gap and deliver equitable outcomes for underserved populations locally and nationally.”**~~ ~~**Bayo Adelaja, CEO, Do it Now Now (deployment partner for Voice4Change’s Pathway Fund)**~~ Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 31 ## A Fairer Future **social investments** ~~**“Over the last year we’ve been fortunate to work with organisations such as the BBC and Channel 4 in training, supporting and developing the early careers of a large amount of young people far beyond our case in Manchester. We’re very enthusiastic about building on this success, expanding as a social enterprise, and continuing to make a positive impact for everyone we work with.”**~~ ~~**Lee Stanley, CEO, SharpFutures**~~ Climate A Fairer Future Diversity, Equity and Inclusion Change Arts and creativity Children making change and young people’s rights ## **SharpFutures** ## **Character Counts Ltd** **£250,000 over 6 years** An investment to support the sustainability and growth of SharpFutures, enabling them to **£200,000 over 10 years** An equity investment in early y ears digital innovation EasyPeasy to help build the required capacity expand and deepen their work supporting disadvantaged young people in Manchester. to maximise growth opportunities. **The Advocacy Academy** **£250,000 over 1.5 years** A bridging loan to help The Advocacy Academy refurbish their new youth and community centre in Brixton. **Catch 22 Charity Limited (Lighthouse Children’s Homes) £1,000,000 over 10 years** An investment into an innovative notfor-profit children’s home looking to purchase and refurbish a second property to expand and prove out their model and share learnings. Our Natural World Creative, Confident Communities A Sector Fit for the Future Cost of Living Awards Governance ## Racial justice ## **Commonweal Housing Ltd** **£1,400,000 over 7 years** Towards project costs as an investment in the provision of social housing for youth affected by violence and the criminal justice system in North London. Auditors’ Report Accounts Home Overview Investments 32 # Esmée Fairbairn Foundation: Trustees’ Report 2023 Creative, Confident Communities **We want to strengthen the bonds in communities, helping local people to build vibrant, confident places where they can fulfil their creative, human, and economic potential.** which will enhance our understanding of how community organising and collective care is vital to long-term change led by communities with lived experience. We also explored connections between our social investment allocation, grants and our place-based focus. Our relationships in the Liverpool City Region, namely with Kindred, HomeBaked and Squash, are a demonstration of how these and other organisations can benefit from the unique support Esmée can offer. 2023 has been a year where changes impacting communities continue to be part of the local and national conversation. From Levelling Up to plans for further devolution; the fiscal challenges faced by local authorities and a General Election on the horizon, a question being asked is ‘what will be the future for communities across the UK?’ Access to the history of a community in a digital age is also important, and our support for the British Film Institute’s screen heritage programme will enable communities to access material that will help reimagine its future. At Esmée, this question represents the context of Creative, Confident Communities, and community-led change is at its heart. This is reflected in the organisations we have resourced – from We’re Right Here, a coalition of community leaders campaigning for a community power act for England and placing diversity in leadership at the heart of community-led change; to the Civic Power Fund Our portfolio offers an exciting vision for what our communities could be and how, when trusted and resourced, they can lead the change the UK is looking for. Our Natural World Climate Change Creative, Confident Communities Diversity, Equity and Inclusion ~~**“We have built a thriving community of grantee partners in Manchester. From a local women’s cooperative providing community care and building community power. To a housing justice group standing with tenants to tackle poor conditions. We’re so excited to be working with all these partners to build lasting civic power in Manchester.” Civic Power Fund**~~ A Sector Fit for the Future Cost of Living Governance Auditors’ Accounts Awards Report Home Overview A Fairer Future Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 33 ## Creative, Confident Communities ## **Grants and social investments[18]** **----- Start of picture text -----**
No. £
**----- End of picture text -----**
Total funding approved in 2023 **£18.2m** ~~**Main grants**~~ Total No. of grants **£14.5m 46** ~~**Social Investments**~~ Total No. of investments **£3.5m 6** ~~**Tools**~~ Total **£246k** **----- Start of picture text -----**
Priority
19 £9.1m
Communities working
together for change
16 £2.9m
Community-led
art and creativity
£6.0m
17
Community driven enterprise including 6 social investments
and regeneration
18 Includes relevant New Connections grants and
partnership funds also listed on pages 54 to 57.
**----- End of picture text -----**
Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Overview Home Esmée Fairbairn Foundation: Trustees’ Report 2023 34 ## **grants** Creative, Confident Communities **CIVIC SQUARE Birmingham CIC £625,000 over 3 years** Towards core costs for the next phase of Civic Square, a community driven development. ## **LocalMotion** ## Communities working together for change **3,000,000 over 8 years** Towards delegated grant-making to a funder collaboration to catalyse long-term community-led change. See page (Funding Partnership page) for more information. ## **Clean Air Fund** **£200,000 over 2 years** ## **OPEN Shetland** ## **ACORN** Towards project costs catalysing and coordinating community-led action on air pollution in underserved neighbourhoods in Birmingham. **£200,000 over 4 years** Towards unrestricted core costs for the first youth-led organisation in Shetland, which will pioneer new ways to improve systems and influence change in the community. **£160,000 over 3 years** Towards project costs for a community organising project in the West Midlands, building the collective power of low-income, marginalised groups to shape the decisions that affect their lives. ## **East Marsh United** **£247,434 over 3 years** Towards core costs to support a three-year programme of community-led creative engagement. **Opus Independents Ltd £60,000 over 1 year** Towards project costs to develop the listening and sense-making capabilities of the civic sector in Sheffield to ensure mass participation and resource a deep democratic transition. **Civic Power Fund £1,500,000 over 5 years** Towards unrestricted core costs to build power in place through grassroots community organising. ## **Locality** **£345,000 over 3 years** Towards core costs for “We’re Right Here – the campaign for community power” to broaden its base in communities. Climate Creative, Confident Communities A Fairer Future Investments Diversity, Equity and Inclusion Change ~~**“We are the frst youth-led organisation in Shetland, and to our knowledge, only the second in Scotland. Achieving this landmark moment is testament the hard work and dedication of the OPEN team and its young people.”**~~ ## ~~**OPEN Shetland**~~ Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 35 ## **grants** Creative, Confident Communities ~~**“2023 was a formative year for Place Matters. We became the Learning Partner to the trailblazing Liverpool Cradle to Career programme. We convened 20 place-based funders to look at how to fund communities better. We developed the capacity to lead change in 3 community groups across Nottinghamshire and established a global network to share learning and develop practice.”**~~ ~~**Place Matters**~~ Climate Change A Fairer Future **Place Matters (Right to Succeed CIO) £300,000 over 3 years** Towards core costs of a partnership to support UK funders’ place-based initiatives. **Plymouth VCSE** **£990,000 over 5 years** Towards unrestricted core costs to support infrastructure, connection and collaboration with grassroots groups, charities, Local Authorities, business and other community stakeholders in Plymouth. **Rural Media Charity £248,000 over 3 years** Towards unrestricted core costs to empower rural young people to harness their creativity in ways that will amplify and embed their voices; giving them the power, confidence, skills and pathways to drive local change. Our Natural World Creative, Confident Communities A Sector Fit for the Future ## **Squash CIC** **£200,000 over 4 years** Towards core costs to support our co-created arts programme, more ambitious plans for supporting enterprise and social trading, and to influence and share learning more widely. **Streets of Growth £200,000 over 4 years** Towards unrestricted core costs developing career mentoring (led by volunteer Pathfinder mentors from the creative and tech sectors); and creating a new focal point for youth employment, enterprise and community development. **The Community Action Groups Project Oxfordshire Limited £200,000 over 4 years** Towards unrestricted core costs to build grassroots power from the bottom up via the Owned by Oxford community wealth building project. Cost of Living Awards Governance **The Stove Network £177,000 over 2 years** Towards project costs to establish What We Do Now as a network for Dumfries and Galloway and a wider resource for communities, supporting them to lead change from within their places through creative collaboration. **The Winchester Project £197,400 over 3 years** Towards project costs for the Good Neighbour Project, aiming to make Kilburn and Swiss Cottage a fairer and greener place, with strong community bonds. **Young Asian Voices £150,000 over 3 years** Towards core costs for the further development of youth voice across Sunderland. **Young Manchester £110,000 over 3 years** Towards project costs to develop Youth Alliance Greater Manchester’s collaboration with #BeeWell, to raise youth voice in policy making and commissioning and improve outcomes for young people across the city region. Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 36 ## **grants** Creative, Confident Communities ## Community-led art and creativity **Anansi Theatre Company £60,000 over 2 years** Towards core costs ore costs including the outreach programmes of a company run by and for Women of Colour, which incorporates issues of importance in our current culture and society. **Community in Partnership Knowle West** **£180,000 over 3 years** Towards core costs to grow a community cultural hub of creativity, wellbeing, and learning; providing access to space and co-creating activities responding to the needs, talents, ideas and aspirations of the community. **Eden Court Highlands £157,000 over 1.5 years** Towards project costs of In on the Act, enabling four Highland communities to take centre stage in a co-creation project, celebrating local life and presenting their hopes for change through live performance. **Entelechy Arts Limited £266,000 over 4 years** Towards unrestricted core costs of an ambitious programme of change in Lewisham, led by members with a profound and multiple learning disability (PMLD), through public and creative interventions, responding to local issues and elevating their visibility and contribution. ~~**“Our Everybody Dance Now group with Movema Dance continues to grow. As part of this, the Support Artist role (supporting the lead artist to run the group) evolved to support a local single parent back into employment; a role which has seen her re-build confdence and develop facilitation skills, highlighting to us the need to keep doing what we do.”**~~ ## **Fuel Productions LTD** **£200,000 over 4 years** Towards core costs for Fuel to embed and disseminate its placebased audience development and engagement strategy, and its embedded co-creation model, in key areas across the UK. **Greater Manchester Arts Centre Limited** **£250,000 over 3 years** Towards project costs to empower communties in Moss Side, Hulme, and Gorton to have a greater say in how arts and creativity in Manchester is developed using a co-created approach. **Heart of Glass St Helens Limited** **£400,000 over 4 years** Towards unrestricted core costs of growing practice and methodologies of community art as a transformational model to create effective change at a local and national level focused on people, place, and possibility. ## **Luminate** **£50,000 over 2 years** Towards unrestricted core costs to support Luminate’s role as a leadership and development organisation in creative ageing in Scotland. ## **Migration Museum Project** **£240,000 over 4 years** Towards core costs to support work which promotes a better understanding of our shared migration stories and creates inclusive cultural spaces. ## **Northern Heartlands** **£185,500 over 3 years** Towards unrestricted core costs for co-creating change with communities in County Durham. ~~**Filwood Community Centre (Community in Partnership Knowle West)**~~ Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 37 ## **grants** Creative, Confident Communities ~~**“It’s been a watershed year for us. Not only have we been able to bring our members with profound and multiple learning disabilities into the heart of our organisation, but they in turn have changed everything we do, from our team meetings to our programme and long-term strategy.”**~~ **Queen’s Theatre Hornchurch £132,400 over 3 years** Towards core costs to support the theatre’s role as a co-creative community hub, including community engagement staff and programmes. ## **Restoke** **£150,000 over 3 years** Towards core costs for Restoke’s programme of free creative activities, co-created performances and events in Stoke-on-Trent. ## **Sadler’s Wells Trust Limited** **£200,000 over 4 years** Towards project costs to extend and diversify the What Next? movement, creating more inclusive and equitable opportunities for local Chapters to take on leadership responsibilities in their communities. ## **Take A Part CIO** **£124,600 over 3 years** Towards core costs to support Sustainable and Successful Futures to ensure Take A Part can support more grassroots communities and share best practice. ## **The British Film Institute** **£192,422 over 3 years** Towards core costs for the salary, overheads, and travel costs of a new BFI Replay Engagement Officer role to support libraries and communities using the BFI Replay digitised screen heritage platform across the UK. ## **Zoo Co Creative LTD** **£120,000 over 3 years** Towards unrestricted core costs to apply a highly co-produced model of creative engagement in Croydon to develop greater disabled and young creative leadership in Croydon as well as nationally. ~~**Entelechy Arts Limited**~~ Climate A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Change Esmée Fairbairn Foundation: Trustees’ Report 2023 38 ## **grants** Creative, Confident Communities ## Community driven enterprise and regeneration **Arts & Culture Finance £300,000 over 2 years** Towards core costs to establish a new entity for the creative and cultural sectors, incorporating the work of Arts & Culture Finance. **Empty Homes Agency £180,000 over 3 years** Towards project costs for Retrofit Empty Homes Action Partnerships (REHAPs) in four areas over three years, empowering communities to drive their transition to a more equitable lower carbon future. ## **Homebaked** **Cooperative Anfield Lt £90,000 over 3 years** Towards core costs to support the growth of a community owned bakery to enable it to deliver further social value, train and employ more people from the community, and deliver more affordable food. ## **Kindred LCR CIC** **£160,000 over 3 years** Towards core costs for a data and social impact post to enable Kindred to evidence the social and economic impact of socially trading organisations, building investment in pioneering models for local economies. **Middlesbrough Environment City Trust £300,000 over 3 years** Towards project costs to create a blueprint for long-term food system change, making sustainable and healthy food readily accessible. **Nudge Community Builders £250,000 over 3 years** Towards core costs to cover a period of building developments and enable the organisation to scale in a way that will leave it more resilient and able to make lasting change in the community. ## **Onion Collective CIC** **£60,000 over 1 year** Towards core costs to support the Onion Collective’s work across culture, social and environmental justice. ~~**“This space keeps me going, I know I can come here and be myself.”**~~ ~~**Local resident about Nudge Community Builders**~~ ~~**“Our spaces are really well used and loved by lots of local people. We hosted our frst young people summer programme, music nights at Millennium and started to put more strategic plans in place to get more empty buildings into use and creating opportunities for local people.”**~~ ~~**Nudge Community Builders**~~ Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards **Watch a short flm about Nudge Community Builders’ work to create a long-term plan for change on Union Street.** Governance Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 39 ## **grants** Creative, Confident Communities ## **Participate Projects** ## **Shared Assets** ## **£60,000 over 1 year** ## **£350,000 over 5 years** Towards core costs for Manningham Ideas Mill, a community-led and owned enterprise that drives change in the local economy by unlocking the potential of local people to transform their community. Towards core costs of organisational transformation work leading to a scaled down and rebuilt organisation that is fit for the future. ## **The Community Farm** ## **£200,000 over 3 years** Towards core costs for a communityowned farm. ## **Plunkett Foundation** ## **£500,000 over 4 years** Towards core costs strengthening the Rural Community Business Sector throughout the UK. ## **social investments** Creative, Confident Communities **Peoples Parkfield CIC £130,000 over 8 years** An investment towards working capital to assist the start-up phase. **Greater Manchester Community Renewables Ltd £60,000 over 10 years** An investment towards the installation of solar panels. Community driven enterprise and regeneration ## **Kindred LCR CIC** **£400,000 over 10 years** An investment towards building a resilient Social Enterprise Sector in Liverpool City Region. **Arts & Culture Finance** **£250,000 over 10 years** An investment towards establishing a new intermediary organisation for the arts and culture sector. ## **LocalMotion** **£2,000,000 over 10 years** A £2m social investment facility ringfenced to LocalMotion, working alongside the £3m grant funding proposal. The grant funding provides the budget to catalyse long-term community-led change, and the social investment funding works to get the long-term community physical infrastructure in place to support and sustain that community-led change. **Greater Manchester Centre for Voluntary Organisation £675,000 over 8 years** An investment to underwrite loan losses incurred by credit unions as they begin to lend to social enterprises and charities through the Enterprising Communities Fund. See pages 56 to 57 for more information Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 40 ## Our Natural World **We want to ensure that our natural world is restored and protected, and that people benefit from that recovery.** will help to inform future work. We are also developing a new proactive roadmap for our marine and fisheries work, building on new funding for Open Seas and The Wildlife Trusts. In 2023, we continued to make progress towards our strategy for Our Natural World. We launched our Blue Spaces programme to support communities to improve their local freshwaters, which has included funding 10 development projects in Wales. We’re also pleased to have increased our funding to Northern Ireland with three grants supporting freshwater, peatland restoration and species recovery. On peat, we are supporting three coordinated interventions to accelerate phase out of peat in horticulture. This includes a new campaign convened by Plantlife, in partnership with the RSPB, The Wildlife Trusts, National Trust, Soil Association and a range of gardening campaign groups. We are also supporting work with the Royal Horticulture Society and an innovative new start up called Sizzle, who are working with business, local government and communities to source peat alternatives from food and garden waste. We continue to focus on improving diversity, equity and inclusion in the environment sector. In 2023, this included a second grant to the RACE Report and a new grant to All the Elements, who work with leaders improving diversity across conservation, environment, sustainability, and sport. - In Nature Friendly Farming, we commissioned a mid strategy review, to explore the changing context for this area along with the drivers and blockers of progress, which Home Overview Investments Finally, our work last year to unlock new models of financing nature recovery includes significant grants to the Green Finance Institute and the Ecosystem Knowledge Network. Both focus on ensuring that finance is high integrity and designed around the needs of people and nature. Our Natural World Climate Change Creative, Confident Communities A Fairer Future Diversity, Equity and Inclusion ~~**“In 2023, Sizzle launched Enrich the Earth, a new circular economy collaboration of diverse organisations seeking to deliver a just transition from peat to more sustainable alternatives. This includes creating a peat replacement which includes green waste, identifying legislative changes that are required, reducing contamination in green waste and sparking a composting revolution by working with Community Gardens in the North East of England.” Sizzle**~~ **Watch a short video about Enrich the Earth.** A Sector Fit Cost of Living Governance Auditors’ Accounts for the Future Awards Report Esmée Fairbairn Foundation: Trustees’ Report 2023 41 ## Our Natural World **----- Start of picture text -----**
Grants and social investments [19]
No. £
Priority
Total funding approved in 2023 23 3.5m
Freshwater
£21.5m 4 £1.3m
Peat
Main grants
31 £9.4m
Total No. of grants Space for nature
including 7 social investments
£14.8m
82
3 £496k
Fishing in tandem with nature
Social Investments
Nature friendly farming
Total No. of investments
23 £4.6m
Nature friendly farming
£5.4m 9 including 2 social investments
Impact Investments
3 £359k
Racial justice
Total No. of investments
£1.0m 1 1 £152k
Community-led art and creativity
Tools
Total 3 £320k
A sector fit for the future
£378k
19 Includes relevant New Connections grants
and partnership funds listed pages 54 to 57.
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19 Includes relevant New Connections grants and partnership funds listed pages 54 to 57. Investments Climate Diversity, Climate Equity and Change Inclusion A Fairer Future Creative, Confident Communities Our Natural A Sector Fit World for the Future Cost of Living Awards Governance Auditors’ Accounts Report Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 42 ## Our Natural World **grants** ## Fishing in tandem with nature ~~**“In 2023, the Courts ruled in favour of our judicial review of the Scottish Government’s approach to licensing scallop dredging and bottom trawling – a win for environmental justice and those who have campaigned to protect our seas.” The Open Seas Trust**~~ **Marine Conservation Society £193,378 over 2.5 years** Towards project costs related to shaping the environmental future of UK aquaculture at a critical juncture, when the industry is poised for significant growth. **Plymouth Fishing and Seafood Association £198,000 over 26 months** Towards core costs to enable Plymouth and other local fishing communities served by Plymouth to thrive whilst protecting the marine environment for all. **The Open Seas Trust £105,000 over 3 years** Towards core costs in support of work to end damaging fisheries and promote low impact alternatives in Scottish coastal waters. **Watch a short flm from The Open Seas Trust talking about the outcome of the judicial review.** Home Overview Climate Creative, Confident Communities A Fairer Future Investments Diversity, Equity and Inclusion Change Our Natural World A Sector Fit for the Future ## Freshwater **Action for Conservation £41,383 over 1 year** Towards project costs to understand how intergenerational mapping methodologies could support holistic bio-cultural recovery in the Upper Usk River catchment. **Angling Trust £323,404 over 3 years** Towards core costs to ensure greater environmental protection, pollution prevention, and sustainable management of the freshwater and marine environment. ## **Beaver Trust** **£60,000 over 2 years** Towards core costs for the longterm, large-scale restoration of beavers to Britain to improve freshwater habitats, increase biodiversity and reduce flood risk. Cost of Living Awards Governance **Bioregioning Tayside £125,000 over 1.5 years** Towards project costs of the Riverwoods Pioneer – The River Ericht Catchment Restoration Initiative. **Cwm Arian** **Renewable Energy £59,916 over 1 year** Towards project costs to engage communities in best practice catchment management encompassing: land, water, and nutrient resources; and to protect the Afon Nyfer, an ecologically significant river of refuge. ## **Groundwork Wales** **£58,020 over 1 year** Towards project costs for Healthy Rivers South East Wales working with communities and partners across the South East Valleys catchment region to conserve the health of regional rivers. Auditors’ Accounts Report Esmée Fairbairn Foundation: Trustees’ Report 2023 43 ## Our Natural World **grants** ## **NI Environment Link** **£250,000 over 3 years** Towards core costs for a dedicated Freshwater Development Officer, to provide critical expertise and assistance to focus on improving freshwater habitats through cross sectoral working. ## **North Wales Rivers Trust Ltd** **£58,000 over 1 year** Towards project costs for saving Salmon & Sewin: a pilot to improve freshwater input to the Menai Strait. ## **North Wales Wildlife Trust** **£60,000 over 14 months** Towards project costs to collaborate with a diverse range of communities and partners to co-create genuinely community-owned plans to deliver clean and healthy freshwaters. **Pembrokeshire Coastal Forum** **£59,863 over 1 year** Towards project costs for the Ecosystem Enterprise Partnership developing investable action for river restoration. ## **Perth and Kinross** **Countryside Trust £124,190 over 1.5 years** Towards project costs of the Riverwoods Investment Readiness Pioneer – Upper Tay Catchment Communities – Upper Almond Riverwoods project. ## **Rent-A-Role Drama Service** ## **£59,750 over 8 months** Towards project costs to explore the concept of rivers as citizens, working to unite communities with the river on equal terms. **Royal Society For The Protection of Birds** **(Tir Canol) £400,000 over 4 years** Towards core costs of Tir Canol (middle ground) ensuring a naturerich and connected ecosystem from land to sea, delivering benefits to wildlife and people. **Spey Catchment Initiative (SCIO)** **£200,000 over 3 years** Towards core costs of a sustainable, climate resilient and thriving natural environment for wildlife and communities throughout the Spey Catchment. ~~**“We have made signifcant progress in securing the core costs to fund our staff and equip them to scope and develop the Nature-based Solutions projects we are planning to deliver at landscape-scale. These will restore natural form and function in modifed watercourses and enhance river corridor habitats, beneftting biodiversity and improving the resilience of the Spey catchment to climate change.”**~~ ~~**Spey Catchment Initiative**~~ Climate Change A Fairer Future Creative, Confident Communities Our Natural World **Watch a short flm about Spey Catchment Initiative’s work to re-naturalise the Calder in Scotland.** A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 44 ## Our Natural World **grants** ~~**“A Fresh Water Future brought together a mix of stakeholders who have never engaged in that way, constructively, before. It demonstrated consensus on a way forward for cleaner water, backed by the public.”**~~ ~~**The Chartered Institute of Water and Environmental Management**~~ Climate A Fairer Future **The Chartered Institute of Water and Environmental Management £191,750 over 1 year** Towards project costs of A Fresh Water Future, an independent review of water sector performance and governance and a co-created expert, stakeholder and public vision for future water management in the UK. **The Froglife Trust £300,000 over 3 years** Towards unrestricted core costs of Froglife’s work to restore amphibian and reptile populations through improving habitats, engaging communities, and promoting learning. ## **The Rivers Trust** **£240,000 over 3 years** Towards core costs to employ a Chalk Streams Programme Manager to drive delivery of the Implementation Plan of the Chalkstream Restoration Strategy. Our Natural World Creative, Confident Communities A Sector Fit for the Future **The Zoological Society of London** ## **West Wales Rivers Trust** **£58,500 over 1 year** **£186,834 over 2 years** Towards project costs to bring together citizen science, arts and activism to create a powerful new movement for social change which can be replicated across other rivers in the UK. Towards core costs integrating community action and restoration finance into strategic plans for rivers in Greater London. ## **UK Youth 4 Nature** **£200,000 over 3 years WRAP** Towards core costs to upskill young **£300,000 over 3 years** people, strengthen and grow their Towards project costs of scaling up movement, and campaign around food and drink industry engagement nature-related issues in the UK, with in the Water Roadmap, to address a particular focus on agricultural the challenges in protecting critical pollution in freshwater. water resources for food supply, for nature, and for local communities. ## **Welsh Dee Trust** **£54,000 over 1 year** Towards project costs for a future plan for the River Gwenfro. **West Cumbria Rivers Trust Limited** **£59,922 over 6 months** Towards project costs of developing a business plan, linking buyers, sellers and investors to reduce flood risk, restore nature and mitigate against climate change in the Glenderamackin catchment of the Lake District. Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Change Esmée Fairbairn Foundation: Trustees’ Report 2023 45 ## Our Natural World **grants** ## **FFCC Ltd** Nature friendly **FFCC Ltd £9,785 over 6 months** Towards project costs Bridging farming funding for staff team as development and transition to new host for the Cumbria Land and Nature Skills Service. ## **FFCC Ltd** ## **Cumbria Wildlife Trust LTD** **£59,435 over 3 years** Towards project costs for a five-day residential course (and follow up programme of eight one-day events) for 20-25 young innovators in regenerative agriculture and agroecology in Northern Ireland. ## **£150,000 over 3 years** Towards project costs to establish a Land and Nature Skills Service for Cumbria. ## **Farming and Wildlife Advisory Group South West (FWAG SW)** **Food Sense Wales (Cardiff and Vale Health Charity) £396,453 over 4 years** Towards core costs to influence and impact on how food is produced and consumed in Wales. ## **£110,000 over 2 years** Towards project costs associated with The GREAT Zerodig Project at the Royal Agricultural University. ## **Feedback Global Limited** **£402,000 over 3 years** Towards unrestricted core costs to campaign for a food system that is better for people and planet. ## **Foundation For** ## **Common Land** **£197,000 over 4 years** Towards unrestricted core costs to enhance the natural and cultural heritage of farmed Common Land. **GM Freeze £60,000 over 2 years** Towards core costs allowing GM Freeze to continue working nimbly and collaboratively to raise public awareness and support the establishment of effective regulation of Genetic Modification in UK food and farming. ## **Granville Community Kitchen** ## **£90,000 over 2 years** Towards project costs for the development of Good Food Farm Hub. ## **Impatience Ltd** ## **£198,000 over 2 years** Towards project costs to strategically map and then advocate for a move from a waste-based approach to chicken feed in the UK to a circular model in a way that drives government, retail, NGO and farmer action. ~~**“Last year marked a year of signifcant breakthroughs for Feedback’s work on food, nature, and climate. We successfully infuenced the government to reconsider the issue of mandatory food waste reporting, a crucial step in preventing food waste which could help signifcantly reduce emissions, spare land for nature recovery, and enhance farmer livelihoods. We are delighted that our research on UK sugar beet is gaining attention from policymakers, following the parliamentary launch of our latest research, Sugar Pollution. The case for an integrated approach to tackle sugar pollution, for our soils, biodiversity, food security and public health, is now irrefutable.”**~~ ## ~~**Feedback Global Limited**~~ **Download Feedback Global’s research on Sugar Pollution.** Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 46 ## Our Natural World **grants** **Innovation For Agriculture £180,000 over 3 years** Towards unrestricted core costs to enable Innovation for Agriculture to continue to deliver impactful knowledge exchange programmes supporting UK farmers in their journey to Nature and Climate friendly farming. ## **Pasture-Fed Livestock Association CIC** **£60,000 over 2 years** Towards project costs to develop a pilot regenerative agriculture internship programme in Scotland. **Progressive Farming Trust Limited** ## **£50,000 over 2 years** Towards project costs to reduce nitrogen fertiliser use on intensively managed grasslands in the UK by engaging with multiple stakeholders to co-create innovative and integrated solutions to the challenge. **Ullswater Catchment Management CIC £60,000 over 2 years** Towards core costs for habitat improvements within the farmed landscape to increase biodiversity, combined with the provision of nature friendly farming support and guidance to help build sustainable farms. **Real Farming Trust £100,000 over 2 years** Towards project costs as a contribution to the revenue and mentoring costs associated with the delivery of social investment in the Loans for Enlightened Agriculture Fund. **Sustain: The Alliance for Better Food and Farming £700,000 over 4 years** Towards unrestricted core costs for the Alliance to enable policy, support and economic conditions for accelerated transition to nature friendly farming and land use, and champion diversity in all forms. ## **Royal Agricultural University** **£234,527 over 3 years** Towards delegated grant-making for a series of Innovation Challenges which will award financial prizes to support small and medium-sized enterprises (SMEs) working on environmental sustainability in the food and farming sector. **The Kindling Farm Limited £180,000 over 3 years** Towards core costs to support the establishment of a pioneering community-owned agroforestry farm, demonstrating the potential for a fairer and more sustainable food and farming system. ## **Urban Biodiversity CIC** **£180,000 over 3 years** Towards core costs to aid the implementation of a model to influence systemic change in farming practices and community access to land. ## **The Soil Association Limited** **Scottish Crofting Federation £152,823 over 3 years** Towards core costs to accelerate the development of nature friendly and agroecological crofting systems and local food systems in the Scottish Highlands and Islands. **£350,000 over 3 years** Towards core costs allowing the Soil Association to provide support and advice to farmers seeking to produce more sustainably, to increase demand for sustainable food and to positively influence food and farming policy. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Investments Diversity, Equity and Inclusion Change Peat **Plantlife – The Wild Plant Conservation Charity** **£463,359 over 28 months** Towards project costs towards securing a ban on peat in horticulture across the UK by 2024. **RSPB (The Royal Society for the Protection of Birds) £499,999 over 5 years** Towards project costs accelerating the restoration of lowland raised peatlands in Northern Ireland. Cost of Living Awards Governance **Sizzle** **£320,000 over 2 years** Towards project costs for a collaborative campaign that will replace peat with promoting the use of sustainable alternatives to peat in horticulture. **The Royal Horticultural Society (RHS) £60,000 over 2 years** Towards project costs for the RHS to support and accelerate the transition to peat-free gardening in the UK. Auditors’ Accounts Report Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 47 ## Our Natural World **grants** ## Space for nature **Adur and Worthing District Councils £150,000 over 1 year** Towards project costs for establishing a blue natural capital initiative off the Sussex coast. **Breckland Farmers Wildlife Network Ltd £140,000 over 3 years** Towards core costs of a farmer-led group collaborating to create a landscape scale wildlife network. ## **Broadway Initiative Ltd** **£60,000 over 1.5 years** Towards project costs of financing nature recovery to create consensus between the business and environmental NGO communities on what government needs to do to accelerate the development of markets to achieve nature recovery. **CEE Bill Alliance Ltd (Zero Hour) £60,000 over 1 year** Towards core costs for a campaign for a Climate and Ecology Bill. ## **Coetir Anian** **£60,000 over 2 years** Towards unrestricted core costs for landscape scale restoration of habitats and species with education and wellbeing activities in the northern Cambrian Mountains of Mid Wales. **Conservation Evidence, University of Cambridge £300,000 over 3 years** Towards project costs of Conservation Evidence, working with partners to develop tools, processes and approaches to create, collate and embed evidence in conservation. ## **Ecosystems Knowledge Network** **£380,000 over 4 years** Towards core costs to achieving people-centred nature recovery by harnessing the Ecosystems Knowledge Network’s UK-wide capability. Climate Change ~~**“In November, we appointed a Head of Blue Natural Capital to lead the design and implementation of the UK’s frst Blue Natural Capital Lab alongside running operations and programmes. Over the years ahead, Sussex Bay will develop national practitioner, research and funding networks. And collaboration will continue amongst Coastal Councils and business as we develop fresh approaches, funding models, partnership bids, and tool-kits that can be replicated nationally.”**~~ ~~**Sussex Bay hosted by Ardur and Worthing District Councils**~~ **Learn more about the Sussex Bay initiative.** Our Natural World Creative, Confident Communities A Sector Fit for the Future Cost of Living Awards A Fairer Future Governance ## **Environmental Rights Centre for Scotland** **£387,000 over 5 years** Towards unrestricted core costs of providing free legal expertise in public interest environmental law so that everyone is enabled to exercise their rights and protect the environment. ## **Finance Earth** **£15,000 over 3 months** Towards project costs of developing High Integrity Marine Natural Capital Markets in the UK. ## **Green Finance Institute** **£700,000 over 4 years** Towards core costs for the Green Finance Institute’s nature finance programme. ## **Heal Rewilding** **£198,685 over 2 years** Towards core costs to bring individuals and organisations from diverse backgrounds together to support UK nature recovery, climate change action and wellbeing through practical action at new rewilding sites in England. Auditors’ Accounts Report Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 48 ## Our Natural World **grants** ~~**“We convened our frst in-person Environmental Rights Summit in September with over 130 attendees rom across Scotland and with the UN special rapporteur on Human Rights and Environment joining us online. This included a presentation from members of our Environmental Justice Network – comprising of clients from our Advice Service who come together for peer support and joint action.”**~~ **Knepp Wildland Foundation £138,000 over 2 years** Towards core costs to create Weald to Waves, a nationally significant 100-mile nature recovery corridor across Sussex, from Ashdown Forest, through Knepp, down three river catchments to restored kelp forests. ## **NBN Trust** **£180,000 over 3 years** Towards unrestricted core costs to grow the sustainability, reach and impact of the NBN Trust to advance the mission of ‘making data work for nature’. **Plantlife – The Wild Plant Conservation Charity £60,000 over 1 year** Towards core costs to protect the excellent work of The Woodmeadow Trust to date and enhance future delivery of key aspects of it through its assimilation into Plantlife. **Plantlife – The Wild Plant Conservation Charity £280,185 over 3 years** Towards core costs to bring about systemic change in the way grasslands are valued, legislated for and managed across the UK. ## **Radical Ecology** **£60,000 over 2 years** Towards core costs for Radical Ecology’s work across culture, research and policy to advance environmental justice. **Royal Society For The Protection of Birds – Cymru £199,520 over 4 years** Towards project costs of ‘Natur am Byth!’ (Nature Forever!) a partnership uniting nine charities to deliver Wales’ largest natural heritage and outreach programme to save species from extinction. **Royal Society of Wildlife Trusts £697,000 over 5 years** Towards core costs to transform The Wildlife Trusts’ impact for marine wildlife. **The Lancashire Wildlife Trust £60,000 over 1 year** Towards core costs of the development of Nature North’s Green Northern Connections proposition; to refine their ecological vision, identify and prioritise a project pipeline, and ways to renature adjacent land. **SCOTLAND: The Big Picture** **£210,000 over 3 years** nature adjacent land. Towards core costs of supporting the Northwoods Rewilding Network 2023 to 2026. **The National Trust** **£60,000 over 2 years** Towards project costs protecting globally rare Atlantic temperate rainforest in the UK through the formation of a new national network of leading environmental NGOs to support local rainforest alliances. **The Climate Movement** **(The Climate Coalition) £137,000 over 1 year** Towards core costs of The Climate Coalition’s work to respond to the climate crisis through political impact and systems change. **University of Cambridge £200,000 over 3 years** Towards core costs for the Finance for Systemic Change Centre, University of Cambridge. **The Game and Wildlife Conservation Trust £20,021 over 1 year** Towards project costs to the Environmental Farmers Groups (EFGs) by funding the creation of a standard on-boarding process to help other EFGs to start up. ~~**Environmental Rights Centre for Scotland**~~ Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 49 ## Our Natural World **grants** ## Racial justice ~~**“It’s encouraging to see how much the sector’s engagement with racial diversity has grown in just one year. However, it’s clear that much more time and resource needs to be spent to bring the sector in line with the rest of the UK. The more data we have at our disposal, the better equipped we are to shape best practice and ensure we are amplifying underrepresented voices in the fght for social and environmental justice.”**~~ ~~**“We worked on our second annual RACE Report with data gathered from over 140 other organisations working in the environment sector – a 50% increase in organisation participation and a 52% increase in the number of employees represented.”**~~ **All the Elements Outdoors CIC** **£60,000 over 1 year** Towards core costs to create a more diverse, equitable, accessible and representative UK outdoors through support and capacity building from the grassroots to established sector organisations. **Black Girls Hike UK CIC £60,000 over 2 years** Towards core costs to support Black Girls Hike’s operational development and organisational growth. ~~**Manu Maunganidze, Students Organising for Sustainability**~~ ~~**Students Organising for Sustainability**~~ **Students Organising for Sustainability £239,000 over 5 years** Towards project costs of the RACE Report: transparency and accountability reporting for the UK environment sector, creating the impetus to go further and faster on diversity and inclusion. **Learn more about the RACE Report and watch the launch webinar.** Home Overview Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Investments Diversity, Equity and Inclusion Change ## Community-led A Sector Fit for art and the Future creativity ## **Green Alliance Trust** ## **Southern Uplands Partnership £152,000 over 4 years** **£200,000 over 2 years** Towards core costs to protect and enhance environmental governance and secure green trade policy in the UK. Towards project costs of Connecting Threads: a five-year creative placemaking project based on a river, working with communities and creative practitioners along the River Tweed. **Movements Trust Limited** **£60,000 over 1 year** Towards unrestricted core costs to strengthen communities working to protect the natural world and achieve systemic change, networking them and helping them access support to make real impact. **The Climate Movement (The Climate Coalition £60,000 over 3 months** Towards core costs securing The Climate Coalition’s immediate financial future. Cost of Living Governance Awards Auditors’ Report Accounts Esmée Fairbairn Foundation: Trustees’ Report 2023 50 ## Our Natural World **social investments** **----- Start of picture text -----**
Nature friendly Space for nature
farming
**----- End of picture text -----**
**Ooooby £300,000 over 6 years** An investment providing bridging finance to help Ooooby build its core team and platform to reach sufficient scale for profitability, restructure its ownership model and achieve a successful equity raise, which can either be used to pay back investors or convert loan notes to shares. **Cumbria Wildlife Trust Ltd £950,000 over 2 years** An investment towards a land purchase for Skiddaw Forest in the Lake District, Cumbria. **Derbyshire Wildlife Trust £900,000 over 2 years** An investment towards a land purchase for a Common Farm. ## **Kent Wildlife Trust** **The Kindling Farm Limited £400,000 over 1 year** An investment towards project costs for a bridging loan to assist Kindling in the purchase of a 77 acre farm. **£350,000 over 1 year** An investment towards a £1.158m for the construction of bison bridges. **RSPB (The Royal Society for the Protection of Birds) £750,000 over 2 years** An investment towards the purchase of 61 hectares of farmland at Inishcreenry, on the shores of Upper Lough Erne, County Fermanagh. ## **Woodland Savers** **£400,000 over 10 years** An investment to enable Woodland Savers to purchase woodland with communities. This is a seed round. **Worcestershire Wildlife Trust £870,000 over 2 years** An investment towards a land purchase for Trenchwood. **Worcestershire Wildlife Trust £430,100 over 2 years** An investment towards a land purchase for Dovetree Farm. ~~**“We’ve made tremendous strides over the last year in fulflling our mission to put ‘small-scale’ back at the heart of our food systems. Organic and ecological food sales on the Ooooby platform have doubled and there are now over 90 regional food**~~ ~~**hubs serving good food to more than 12,000 households. We’re super proud of our dedicated team.”**~~ ## Our Natural World **impact investments** ## Space for nature **Blume Equity £1,000,000 over 10 years** Limited Partner position in Blume Equity, a climate-tech growth investor transforming the health of planet and people. ~~**Ooooby**~~ Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview **51** **Esmée Fairbairn Foundation: Trustees’ Report 2023** # A Sector Fit for the Future **----- Start of picture text -----**
Total funding approved in 2023
£3.2m
Main grants
Total No. of grants
£1.3m 11
Social Investments
Total No. of investments
£900k 2
Impact investments
Total No. of investments
£1.0m 1
Home Overview Investments Diversity,
Equity and
Inclusion
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**In addition to our three main aims, we support work that contributes to our impact goals across our aims by enabling a stronger, inclusive and innovative sector. This includes key infrastructure organisations and new ideas that unblock barriers, test new approaches or build movements for change.** Applications towards A Sector Fit for the Future are by invitation only. Our priorities in 2023 include: • Data and digital - Enabling campaigning or movement building - • Funder collaboration and accountability - Social and impact investing Climate A Fairer Change Future Creative, Confident Communities **No. of grants £ Priority** 2 £400k **Data and digital** 2 £205k **Enabling campaigning or movement building** 3 £319k **Funder collaboration and accountability** 6 £1.3m **Social and impact** including 2 social investments **investing** 20 Includes Impact Investments and Tools Our Natural **A Sector Fit** Cost of Living Governance Auditors’ Accounts World **for the Future** Awards Report Our Natural World Esmée Fairbairn Foundation: Trustees’ Report 2023 52 ## A Sector Fit for the Future **grants** ## **Association of Charitable Foundations** ## **DataKind UK** ## **Investing for Good** **£360,000 over 3 years** Towards unrestricted core costs to transform the use of data and data science in the social sector, through direct support, community building and effective communications. **£60,000 over 1 year** Towards project costs to hire an Innovative Finance lead on a 12-month contract to develop new impact-first investment products and continue the design of a blended capital issuance platform for social purpose organisations (SPOs). **£77,557 over 2 years** Towards project costs for the transition of the Funders Collaborative Hub to a sustainable and effective long-term delivery model. **Centre for Cultural Value, University of Leeds £40,000 over 1.5 years** Towards project costs for development of an online cultural evaluation platform – a library of evaluations and research on grantfunded cultural projects. ## **Environmental Funders Network** **£225,000 over 3 years** Towards unrestricted core costs of work to improve the resourcing and effectiveness of the environment sector. **Make My Money Matter £50,000 over 1 year** Towards project costs for a campaign to move pensions and banks away from harmful investment practices. ## **Good Ancestor Movement** ## **New Constellations Ltd** **Charity Finance Group £25,000 over 2 years** Towards core costs for dedicated Civil Society Group communications resource to strengthen the collaboration of infrastructure. The Civil Society Group is a network of over 80 infrastructure bodies which emerged in the pandemic to encourage collaboration and a united voice for the charity sector. **£200,000 over 3 years** Towards core costs to develop infrastructure designed to leverage private capital to accelerate the just transition to a regenerative economy. **£16,720 over 1 year** Towards project costs to Stewarding Loss for the Decelerator, an initiative to build the infrastructure needed to support better endings in civil society. **Impact Investing Institute £101,179 over 1 year** Towards project costs for endowments with impact: enabling partnerships between foundations and their investment advisors to deliver impact investing. **Public Interest Research Centre £180,000 over 3 years** Towards unrestricted core costs for Future Stories: a pioneering lived experience-led narrative change project: focused on cross-issue, root-cause, movement-building approaches to narrative work. Climate Creative, Confident Communities A Fairer Future Investments Diversity, Equity and Inclusion Change Our Natural World ~~**“We are the frst dedicated space for civil society to turn to for support with endings! And we’re proud to have supported over 60 civil society organisations to consider, anticipate or design better endings – from closures to mergers to CEO succession planning. We’re overwhelmed by the positive response to our work and grateful to the organisations and leaders who are inviting us in and trusting us with questions, ideas and concerns that are all too often pushed to one side until it’s too late to do anything about and the possibilities for good endings are much slimmer.”**~~ ~~**The Decelerator (New Constellations Ltd)**~~ A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 53 ## **A Sector Fit for the Future social investments** _Social investment new models and market support_ ## **Ascension Ventures** **£400,000 over 10 years** An investment in a managed fund: Ascension Fund III. a follow-on fund from Ascension’s Fair by Design fund and Good Food Fund. ## **Sumerian Foundation** **£500,000 over 12 years** An investment towards inclusive social investment and mentoring support for social enterprises led by minoritised communities in partnership with the Sumerian Foundation, the MariaMarina Foundation and the Access Foundation. ~~**“We are delighted to have commenced a collaborative partnership with the MariaMarina Foundation and Esmée Fairbairn Foundation. This funding partnership will enable us to continue supporting early-stage social enterprises that tackle inequality in the UK, focusing on those led by or serving people from minoritised communities. It will also provide an active learning platform to develop our collective understanding of the skills support needs and types of patient and lexible capital that social enterprises require to succeed.”**~~ ## A Sector Fit for the Future **impact investments** **Palatine Private Equity LLP £1,000,000 over 10 years** Limited Partner position in Palatine Private Equity, a partner-led private equity firm that sees investment as a force for good – for both planet and society. ## ~~**Sumerian Foundation**~~ Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 54 ## New Connections **In 2023, we launched our New Connections programme to find and support organisations that could not, or would not, usually apply to Esmée due to our eligibility criteria. Over 2023 and 2024, we expect to support around 20 organisations who are led by, and for, communities experiencing racial inequity.** Diversity, Equity and Inclusion We will provide them with grant funding of up to £60,000 over two years. In addition to grant funding, we are giving additional capacity building support and setting up a peer network, which will be co-designed with funded organisations, to enable peer support and learning as well as help shape Esmée’s future funding practice. To support their participation in this, we will provide an additional £10k over the two years for peer network members. Learn more about New Connections. Our Natural World Climate Change Creative, Confident Communities A Fairer Future A Sector Fit for the Future Cost of Living Governance Awards Auditors’ Report Accounts Home Overview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 55 ## New Connections The following organisations were supported through New Connections in 2023. Please note these grants are also listed under the relevant aim on pages 19 to 53. Creative, Confident Communities _Community-led art and creativity_ A Fairer Future Our Natural World _Arts and creativity making change_ _Racial justice_ ## Conduits When organisations have not yet developed rigorous financial and other processes we sometimes use a conduit to oversee the management of our funding or where we feel a grantee can benefit substantially from the additional resources that are available because of the relationship. ## Creative, Confident Communities _Community-led art and creativity_ The following organisations received **Anansi Theatre Company £60,000 over 2 years** Towards core costs ore costs including the outreach programmes of a company run by and for Women of Colour, which incorporates issues of importance in our current culture and society. ## **Black Curatorial** **£60,000 over 2 years** Towards project costs of postproduction of a documentary film in year one and supporting core costs for the organisation in year two. _Gender justice_ ## **FiveXMore** **£60,000 over 2 years** Towards core costs to increase staff capacity and elevate the impact of current projects and activities to improve Black maternal health outcomes in the UK. **Black Girls Hike UK CIC** **£60,000 over 2 years** Towards core costs to support Black Girls Hike’s operational development and organisational growth. _Space for nature_ **Radical Ecology** **£60,000 over 2 years** Towards core costs for Radical Ecology’s work across culture, research and policy to advance environmental justice. a grant via a conduit in 2023. Please note these grants are also listed on pages 37 and 52. **Sadler’s Wells Trust Limited** **£200,000 over 4 years** Acting as conduit for What Next? A Sector Fit for the Future _Funder collaboration and accountability_ **New Constellations Ltd** **£16,720 over 1 year** Acting as conduit for Stewarding Loss and The Decelerator. Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 56 ## Funding in Partnership **We increasingly work in partnership with many different organisations across sectors; charities, investors, regulators, social enterprises and academia, trying to pull together unusual alliances that are willing to work together to effect real and long-lasting positive change. This includes exploring new approaches to funding to increase our reach and share learning, examples of which are shared throughout this report.** ~~**“LocalMotion is not about traditional grant making, it’s about changing people’s mindsets so they can shift power dynamics, more honestly learn from mistakes, and change deep-rooted structural challenges. Funders’ continued involvement recognises the power of working together and using strong community ties to help drive change. It’s an opportunity to celebrate how much we’ve learnt and to continue the steps each Place has taken towards realising their vision. I’m looking forward excitedly to the next phase of work and how our plans develop.” Kathleen Kelly, Director of Collaboration, LocalMotion**~~ **Watch a video sharing the LocalMotion story.** Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Governance Auditors’ Accounts Awards Auditors’ Report Home Overview Climate Change A Fairer Future Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 57 ## Funding in Partnership: Delegated funds In 2023, we also worked with partners on a range of delegated funds focusing on areas including migrant justice, community-led change, and environmental sustainability in the food and farming sector. Please note these grants are also listed under the relevant aim on pages 19 to 53. **Museums Association** We also give grants to the Museum sector through the Esmée Fairbairn Collections Fund, managed by Museums Association. A Fairer Future Creative, Confident Communities In 2023, 13 grants were made totalling £1,169,498 _Communities working together for change_ _Migrant justice_ **Beamish, The Living Museum of the North** £70,000 **Ceredigion Museum** £91,697 **Mansfield Museum** £99,213 **National Paralympic Heritage Trust (NPHT)** £98,493 **Paisley Museum & Art Gallery** £100,000 Museums **Sheffield** £100,000 **Justice Collaborations £750,000 over 3 years** In 2023, the Justice Together Initiative, hosted by Justice Collaborations, made 114 grants totalling £4.6m. **LocalMotion** **£5,000,000 over 8 years** Esmée’s contribution for LocalMotion includes £3m towards delegated grant-making and a £2m social investment facility. Collectively, the investment from the funder collaboration totals £18.4m (in grant and social investment funding) for six places in the UK: Carmarthen, Enfield, Lincoln, Middlesborough, Oldham, and Torbay. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Investments Diversity, Equity and Inclusion Change **Timespan** £41,725 **Bowes Museum** £95,545 **Lakeland Arts** £80,000 **The Lightbox** £94,000 **Museum of English Rural Life** £99,381 **National Museum of the Royal Navy** £99,444 **The Box** £100,000 Cost of Living Awards Governance ## Our Natural World _Nature friendly farming_ **Royal Agricultural University** **£234,527 over 2 years** The funding will be awarded through a series of co-designed Innovation Challenges from 2024. Auditors’ Accounts Report Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 58 ## Cost of Living Awards **In 2023, we provided an extra £7.4m to most of the organisations we fund in response to the rising cost of living. In total, 508 organisations received a 10% uplift to their grant. For this support, we prioritised organisations that are:** - Smaller and where the impact of rising costs is likely to be felt more keenly. - Increasing their services in response to increased demand. - Read our blog about our response to the rising cost of living. Climate Change Diversity, Equity and Inclusion A Fairer Future Creative, Our Natural World Confident Communities A Sector Fit for the Future Cost of Living Governance Auditors’ Accounts Awards Report Home Overview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 59 ## Cost of Living Awards |**174 Trust The Duncairn**
**£5,000**
**360 Giving**
**£49,500**
**42nd Street**
**£20,000**
**64 Million Artists**
**£10,000**
**Abianda**
**£32,000**
**Absolutely Cultured Limited**
**£13,200**
**Access All Areas**
**£19,000**
**Access Social Care**
**£20,000**
**ACORN**
**£5,000**
**Action for Conservation**
**£22,500**
**Action for Race Equality**
**£3,400**
**Action with Communities i**
**n Cumbria**
**£13,945**
**Advocacy After Fatal**
**Domestic Abuse (AAFDA)**
**£11,000**
**Afonydd Cymru**
**£18,000**
**African Cultural Exchange**
**Ltd (ACE dance and music)**
**£4,000**
**Age UK Oxfordshire**
**£19,987**
**Agenda**
**£20,000**
**Alexandra Park and**
**Palace Charitable Trust**
**£15,000**
**Alliance For Inclusive**
**Education**
**£18,700**
**Alliance for Youth Justice**
**£4,000**
**Alternative Theatre**
**Company**
**£12,000**
**Amal**
**£10,000**
**Ambitious About Autism**
**£16,810**
**Angling Trust**
**£7,335**
**Anna Freud Centre**
**£6,000**
**Anti Racist Cumbria**
**£20,000**
**Anti-Slavery International**
**£6,000**
**Aquarius Action Projects**
**£17,667**
**Argyll and the Isles Coast**
**and Countryside Trust (ACT)**
**£20,000**
**Art Gene Limited**
**£12,000**
**Article 39**
**£8,000**
**Articulate Cultural Trust**
**£14,400**
**Arts & Business Cymru**
**£10,000**
**Arts & Business NI**
**£20,000**
**Arts at the Mill CIC T/A**
**The Old Courts**
**£47,937**
**Arts At The Old Fire Station**
**£24,000**
**Ashden Climate Solutions**
**£8,300**
**Asian Women’s Resource**
**Centre**
**£19,310**
**Association for Charitable**
**Foundations**
**£13,402**
**Association for Real**
**Change (ARC)**
**£13,000**
**Association of Camerados**
**£4,900**
**Asylum Support Appeals**
**Project**
**£20,000**
**Attitude is Everything**
**£8,000**
**Audioactive**
**£11,200**
**Auditory Verbal UK**
**£20,000**
**Back to Ours Arts Limited**
**£9,500**
**Barrow Cadbury Trust**
**£1,000**
**Bawso**
**£5,000**
**Beavers Arts Limited**
**£30,000**
**Become**
**£6,500**
**Beyond the Streets**
**£5,000**
**Birmingham Education**
**Partnership (BEP)**
**£10,000**
**Birmingham Open Spaces**
**Forum**
**£10,214**
**Birmingham Repertory**
**Theatre Ltd**
**£10,000**
**Birmingham Settlement**
**£16,000**
**Birth Companions**
**£10,000**
**Birthrights**
**£22,500**
**Bite Back 2030**
**£12,500**
Creative,
Confdent
Communities
Our Natural
World
A Sector Fit
for the Future
Governance
Overview
Home
A Fairer
Future
Diversity,
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Inclusion
Investments
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Change
Cost of Living
Awards|**Advocacy After Fatal**
**Domestic Abuse (AAFDA)**
**£11,000**
**Afonydd Cymru**
**£18,000**
**African Cultural Exchange**
**Ltd (ACE dance and music)**
**£4,000**
**Age UK Oxfordshire**
**£19,987**
**Agenda**
**£20,000**
**Alexandra Park and**
**Palace Charitable Trust**
**£15,000**
**Alliance For Inclusive**
**Education**
**£18,700**
**Alliance for Youth Justice**
**£4,000**
**Alternative Theatre**
**Company**
**£12,000**
**Amal**
**£10,000**
**Ambitious About Autism**
**£16,810**|**Angling Trust**
**£7,335**
**Anna Freud Centre**
**£6,000**
**Anti Racist Cumbria**
**£20,000**
**Anti-Slavery International**
**£6,000**
**Aquarius Action Projects**
**£17,667**
**Argyll and the Isles Coast**
**and Countryside Trust (ACT)**
**£20,000**
**Art Gene Limited**
**£12,000**
**Article 39**
**£8,000**
**Articulate Cultural Trust**
**£14,400**
**Arts & Business Cymru**
**£10,000**
**Arts & Business NI**
**£20,000**
**Arts at the Mill CIC T/A**
**The Old Courts**
**£47,937**|**Arts At The Old Fire Station**
**£24,000**
**Ashden Climate Solutions**
**£8,300**
**Asian Women’s Resource**
**Centre**
**£19,310**
**Association for Charitable**
**Foundations**
**£13,402**
**Association for Real**
**Change (ARC)**
**£13,000**
**Association of Camerados**
**£4,900**
**Asylum Support Appeals**
**Project**
**£20,000**
**Attitude is Everything**
**£8,000**
**Audioactive**
**£11,200**
**Auditory Verbal UK**
**£20,000**
**Back to Ours Arts Limited**
**£9,500**|**Barrow Cadbury Trust**
**£1,000**
**Bawso**
**£5,000**
**Beavers Arts Limited**
**£30,000**
**Become**
**£6,500**
**Beyond the Streets**
**£5,000**
**Birmingham Education**
**Partnership (BEP)**
**£10,000**
**Birmingham Open Spaces**
**Forum**
**£10,214**
**Birmingham Repertory**
**Theatre Ltd**
**£10,000**
**Birmingham Settlement**
**£16,000**
**Birth Companions**
**£10,000**
**Birthrights**
**£22,500**
**Bite Back 2030**
**£12,500**|**Black Country Touring**
**£4,000**| |---|---|---|---|---|---| ||||||**Black Cultural Archives**
**£8,398**| ||||||**Black Lives in Music**
**£20,000**| ||||||**Black2Nature**
**£22,500**| ||||||**Blackpool Museum Trust &**
**Blackpool Council**
**£11,963**| ||||||**Blue Cabin CIO**
**£12,500**| ||||||**Break**
**£17,021**| ||||||**Bright Futures Ne**
**£15,000**| ||||||**Brighter Sound**
**£6,000**| ||||||**Brighton & Hove Food**
**Partnership**
**£17,000**| ||||||**British Trust for Ornithology**
**£60,000**| ||||||**Broadway Initiative Ltd**
**£22,000**| ||||||Auditors’
Report
Accounts| Esmée Fairbairn Foundation: Trustees’ Report 2023 60 ## Cost of Living Awards |**Bumblebee Conservation**
**Trust**
**£25,000**
**Carefree Fostering**
**Independence Cornwall**
**£15,000**
**CDP Worldwide**
**£40,000**
**CEMVO Scotland**
**£30,400**
**Central England Law**
**Centre Limited**
**£50,000**
**Centre for Countering**
**Digital Hate**
**£13,333**
**Centre for Sustainable**
**Energy**
**£6,000**
**Centre For The Acceleration**
**Of Social Technology**
**£20,000**
**Centre for Women’s Justice**
**£5,000**
**Chance UK**
**£7,000**
**Charity Finance Group**
**£2,000**
**CHEM Trust**
**£56,000**
**Child Poverty Action Group**
**£32,000**
**Children and Families**
**Across Borders CFAB**
**£4,500**
**Children Heard and Seen**
**£8,000**
**Chwarae Teg**
**£33,300**
**Circles South East**
**£5,000**
**Circles UK**
**£6,000**
**Circusful**
**£10,002**
**Citizens UK**
**£16,000**
**Citizens UK**
**£8,000**
**City Of Birmingham**
**Symphony Orchestra**
**£18,000**
**City of Sanctuary UK**
**£4,000**
**CIVIC SQUARE**
**Birmingham CIC**
**£6,103**
**ClientEarth**
**£25,000**
**Climate 2025 Limited**
**(hosting RE-PEAT)**
**£6,000**
**Clore Leadership**
**£8,000**
**Comic Relief**
**£20,000**
**Community Forest Trust**
**£12,000**
**Community Law**
**Advice Network**
**£3,000**
**Community Law**
**Advice Network**
**£1,500**
**Community Law**
**Advice Network**
**£23,690**
**Company Three (‘Islington**
**Community Theatre’)**
**£6,000**
**Compass Collective**
**£6,000**
**Compassion in**
**World Farming**
**£14,877**
**Compassion in**
**World Farming**
**£4,014**
**Contact A Family**
**£26,000**
**Contemporary Dance**
**Trust Limited**
**£40,000**
**Coram Children’s**
**Legal Centre**
**£10,000**
**Coram Shakespeare**
**Schools Foundation.**
**£2,000**
**Coventry City Of**
**Culture Trust**
**£20,000**
**Create Gloucestershire**
**Limited**
**£29,206**
**Create London**
**£3,000**
**Creative Lives**
**£6,000**
**Creative Youth Network**
**£7,411**
**Crichton Carbon Centre**
**£2,000**
**Culture&**
**£16,517**
**Cumbria Wildlife Trust Ltd**
**£18,000**
**Cumbria Wildlife Trust Ltd**
**£30,000**
**Cumbria Wildlife Trust Ltd**
**£25,000**
**Curious Monkey**
**£3,500**
**Dance Umbrella Ltd**
**£10,000**
**DataKind (UK) LIMITED**
**£8,050**
**DataKind (UK) LIMITED**
**£2,754**
**Deafnitely Theatre**
**£4,000**
**Detention Action**
**£12,000**
**Devon Wildlife Trust**
**£16,667**
Creative,
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Overview
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Diversity,
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Change
Cost of Living
Awards|**CHEM Trust**
**£56,000**
**Child Poverty Action Group**
**£32,000**
**Children and Families**
**Across Borders CFAB**
**£4,500**
**Children Heard and Seen**
**£8,000**
**Chwarae Teg**
**£33,300**
**Circles South East**
**£5,000**
**Circles UK**
**£6,000**
**Circusful**
**£10,002**
**Citizens UK**
**£16,000**
**Citizens UK**
**£8,000**
**City Of Birmingham**
**Symphony Orchestra**
**£18,000**
**City of Sanctuary UK**
**£4,000**|**CIVIC SQUARE**
**Birmingham CIC**
**£6,103**
**ClientEarth**
**£25,000**
**Climate 2025 Limited**
**(hosting RE-PEAT)**
**£6,000**
**Clore Leadership**
**£8,000**
**Comic Relief**
**£20,000**
**Community Forest Trust**
**£12,000**
**Community Law**
**Advice Network**
**£3,000**
**Community Law**
**Advice Network**
**£1,500**
**Community Law**
**Advice Network**
**£23,690**
**Company Three (‘Islington**
**Community Theatre’)**
**£6,000**
**Compass Collective**
**£6,000**|**Compassion in**
**World Farming**
**£14,877**
**Compassion in**
**World Farming**
**£4,014**
**Contact A Family**
**£26,000**
**Contemporary Dance**
**Trust Limited**
**£40,000**
**Coram Children’s**
**Legal Centre**
**£10,000**
**Coram Shakespeare**
**Schools Foundation.**
**£2,000**
**Coventry City Of**
**Culture Trust**
**£20,000**
**Create Gloucestershire**
**Limited**
**£29,206**
**Create London**
**£3,000**
**Creative Lives**
**£6,000**|**Creative Youth Network**
**£7,411**
**Crichton Carbon Centre**
**£2,000**
**Culture&**
**£16,517**
**Cumbria Wildlife Trust Ltd**
**£18,000**
**Cumbria Wildlife Trust Ltd**
**£30,000**
**Cumbria Wildlife Trust Ltd**
**£25,000**
**Curious Monkey**
**£3,500**
**Dance Umbrella Ltd**
**£10,000**
**DataKind (UK) LIMITED**
**£8,050**
**DataKind (UK) LIMITED**
**£2,754**
**Deafnitely Theatre**
**£4,000**
**Detention Action**
**£12,000**
**Devon Wildlife Trust**
**£16,667**|**Disability Arts Online**
**£2,500**| |---|---|---|---|---|---| ||||||**Disability Law Service**
**£10,000**| ||||||**Drake Music**
**£4,620**| ||||||**Drake Music Scotland**
**£15,000**| ||||||**Dumfries High Street**
**Limited (t/a Midsteeple**
**Quarter)**
**£8,266**| ||||||**Durham University,**
**Research and Innovation**
**Services**
**£16,690**| ||||||**Earth in Common**
**£12,000**| ||||||**EcoBirmingham**
**£3,000**| ||||||**Ecosystems Knowledge**
**Network**
**£17,351**| ||||||**Ecpat UK**
**£10,000**| ||||||**Education Skills**
**Development Group**
**(ESDEG)**
**£23,783**| ||||||Auditors’
Report
Accounts| Esmée Fairbairn Foundation: Trustees’ Report 2023 61 ## Cost of Living Awards |**Effervescent Social Alchemy**
**£5,000**
**Ego Performance**
**Company Ltd.**
**£16,500**
**Element Creative**
**Projects CIO**
**£18,500**
**End Violence Against**
**Women Coalition (EVAW)**
**£10,000**
**Environmental Funders**
**Network**
**£6,000**
**Environmental Rights**
**Centre for Scotland**
**£8,000**
**Equally Ours**
**£25,000**
**Ethnic Youth Support**
**Team (EYST)**
**£19,500**
**Extant**
**£6,000**
**Fair for You CIC**
**£6,303**
**Family Lives**
**£12,873**
**FareShare**
**£37,500**
**Farnham Maltings**
**Association Ltd**
**£6,410**
**Fauna & Flora International**
**£19,476**
**Feile an Phobail**
**£22,667**
**FFCC Ltd**
**£60,000**
**Fio**
**£9,194**
**Fish Legal**
**£6,000**
**Focus on Labour**
**Exploitation (FLEX)**
**£5,000**
**Food Ethics Council**
**£5,000**
**Food Foundation**
**£6,667**
**Food Sense Wales (Cardiff**
**and Vale Health Charity)**
**£8,020**
**Foothold Cymru**
**£18,000**
**Forth Rivers Trust**
**£16,406**
**Foundation For**
**Common Land**
**£13,300**
**Freshwater Biological**
**Association**
**£29,000**
**FRG Ltd**
**£20,000**
**FRG Ltd**
**£14,345**
**Friends Of The Earth**
**Charitable Trust**
**£20,000**
**Frozen Light**
**£3,000**
**Future First Alumni Limited**
**£20,000**
**Fylde Coast Women’s Aid**
**£4,000**
**GATE Herts**
**£6,000**
**Gateway Studio CIO**
**£11,667**
**Gendered Intelligence**
**£20,000**
**Generation Rent**
**£17,054**
**GirlDreamer Ltd**
**£12,000**
**Global Action Plan**
**£20,000**
**Global Feedback Limited**
**£3,000**
**Global Feedback Limited**
**£10,000**
**GM Freeze**
**£3,000**
**Good Ancestor Movement**
**£6,000**
**Good Chance**
**£5,000**
**Graeae Theatre Company**
**£20,000**
**Grapevine (Coventry**
**And Warwickshire) Ltd**
**£12,000**
**Greater Manchester**
**Immigration Aid Unity**
**£6,300**
**Greater Manchester**
**Youth Network (GMYN)**
**£15,000**
**Green Alliance Trust**
**£6,600**
**Green Finance Institute**
**£9,998**
**Green Future Associates CIC**
**£5,900**
**Greenpeace Environmental**
**Trust**
**£6,000**
**Greenwich Dance Agency**
**£3,350**
**Growing Communities/**
**Better Food Traders**
**£24,058**
**Growing2gether**
**£13,000**
**Hackney Empire Ltd**
**£2,300**
**Heads Together Productions**
**£3,000**
**Heal Rewilding**
**£3,000**
**Heard Organisation Limited**
**£6,000**
**Heart of Glass St Helens**
**Limited**
**£5,800**
Creative,
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Overview
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A Fairer
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Diversity,
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Inclusion
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Cost of Living
Awards
A Fairer Future|**FareShare**
**£37,500**
**Farnham Maltings**
**Association Ltd**
**£6,410**
**Fauna & Flora International**
**£19,476**
**Feile an Phobail**
**£22,667**
**FFCC Ltd**
**£60,000**
**Fio**
**£9,194**
**Fish Legal**
**£6,000**
**Focus on Labour**
**Exploitation (FLEX)**
**£5,000**
**Food Ethics Council**
**£5,000**
**Food Foundation**
**£6,667**
**Food Sense Wales (Cardiff**
**and Vale Health Charity)**
**£8,020**
**Foothold Cymru**
**£18,000**|**Forth Rivers Trust**
**£16,406**
**Foundation For**
**Common Land**
**£13,300**
**Freshwater Biological**
**Association**
**£29,000**
**FRG Ltd**
**£20,000**
**FRG Ltd**
**£14,345**
**Friends Of The Earth**
**Charitable Trust**
**£20,000**
**Frozen Light**
**£3,000**
**Future First Alumni Limited**
**£20,000**
**Fylde Coast Women’s Aid**
**£4,000**
**GATE Herts**
**£6,000**
**Gateway Studio CIO**
**£11,667**
**Gendered Intelligence**
**£20,000**|**Generation Rent**
**£17,054**
**GirlDreamer Ltd**
**£12,000**
**Global Action Plan**
**£20,000**
**Global Feedback Limited**
**£3,000**
**Global Feedback Limited**
**£10,000**
**GM Freeze**
**£3,000**
**Good Ancestor Movement**
**£6,000**
**Good Chance**
**£5,000**
**Graeae Theatre Company**
**£20,000**
**Grapevine (Coventry**
**And Warwickshire) Ltd**
**£12,000**
**Greater Manchester**
**Immigration Aid Unity**
**£6,300**
**Greater Manchester**
**Youth Network (GMYN)**
**£15,000**|**Green Alliance Trust**
**£6,600**
**Green Finance Institute**
**£9,998**
**Green Future Associates CIC**
**£5,900**
**Greenpeace Environmental**
**Trust**
**£6,000**
**Greenwich Dance Agency**
**£3,350**
**Growing Communities/**
**Better Food Traders**
**£24,058**
**Growing2gether**
**£13,000**
**Hackney Empire Ltd**
**£2,300**
**Heads Together Productions**
**£3,000**
**Heal Rewilding**
**£3,000**
**Heard Organisation Limited**
**£6,000**
**Heart of Glass St Helens**
**Limited**
**£5,800**|**Hibiscus Initiatives**
**£20,000**| |---|---|---|---|---|---| ||||||**High Trees Community**
**Development Trust**
**£18,025**| ||||||**HighTide**
**£6,000**| ||||||**Hijinx Theatre**
**£5,000**| ||||||**Hope For The Future**
**£11,667**| ||||||**Howard League for Penal**
**Reform**
**£24,000**| ||||||**Hubbub Foundation UK**
**£20,000**| ||||||**Ideas Test**
**£14,270**| ||||||**IKWRO – Women’s**
**Rights Organisation**
**£5,462**| ||||||**Imkaan**
**£6,000**| ||||||**Immigration Law**
**Practitioners’ Association**
**£15,000**| ||||||Auditors’
Report
Accounts| Esmée Fairbairn Foundation: Trustees’ Report 2023 62 ## Cost of Living Awards |**In Your Space Circus Ltd**
**£6,673**
**Innovation Unit**
**£20,000**
**INQUEST Charitable Trust**
**£36,000**
**Institute for Voluntary**
**Action Research**
**£18,000**
**Institute of International**
**Visual Arts**
**£5,000**
**International Curators**
**Forum**
**£4,000**
**IntoUniversity**
**£30,000**
**Investing for Good**
**£6,000**
**Islington Law Centre**
**(The Migrants’ Law Project)**
**£3,000**
**JAGS Foundation**
**£8,000**
**Joint Council for the**
**Welfare of Immigrants**
**£15,000**
**Just For Kids Law Limited**
**£48,000**
**Just Like Us**
**£8,000**
**JustRight Scotland**
**£3,000**
**Kala Sangam**
**£15,000**
**Kalayaan**
**£10,000**
**Karma Nirvana**
**£15,000**
**Kent Refugee Action**
**Network**
**£32,500**
**Khulisa**
**£10,000**
**Kids Kabin**
**£20,000**
**Kiln Theatre**
**£8,000**
**Kinship**
**£6,000**
**Land Workers’ Alliance**
**£13,260**
**Latin American Women’s**
**Rights Service**
**£5,000**
**Law Centres Federation**
**£13,000**
**Leap Confronting**
**Confict (Leap)**
**£12,000**
**Leap Confronting**
**Confict (Leap)**
**£12,000**
**LEAP Sports Scotland**
**£9,523**
**Learning Disability England**
**£2,500**
**Leeds Culture Trust**
**£28,885**
**Leeds Playhouse**
**£13,232**
**Leicestershire Cares**
**£24,087**
**Level Up**
**£11,800**
**LGBT + Consortium**
**£4,000**
**Liberdade Community**
**Development Trust**
**£12,000**
**Llamau**
**£3,000**
**Locality**
**£3,000**
**London International**
**Festival of Theatre**
**£4,000**
**Luminate**
**£2,500**
**Lyric Theatre Hammersmith**
**£15,500**
**Made In Hackney**
**£3,639**
**Mae Murray Foundation**
**£3,000**
**MAIA**
**£18,000**
**Manchester Innovation**
**Activities Hub Ltd**
**£6,000**
**Manchester International**
**Festival**
**£40,000**
**Manchester Metropolitan**
**University**
**£18,000**
**Marlborough Theatre**
**Productions Ltd**
**£12,000**
**Maslaha**
**£15,000**
**Maternal Mental Health**
**Alliance**
**£5,000**
**Maternity Action**
**£6,000**
**May Project Gardens CIC**
**£6,000**
**Metropolitan Arts Centre**
**£10,000**
**Migrant Voice**
**£24,000**
**Migrants Organise Ltd**
**£5,000**
**Migrants’ Rights Network**
**£4,000**
**Movements Trust Limited**
**£6,000**
**Museums Association**
**£31,379**
**Muslim Women’s**
**Network UK**
**£4,800**
Creative,
Confdent
Communities
Our Natural
World
A Sector Fit
for the Future
Governance
Overview
Home
A Fairer
Future
Diversity,
Equity and
Inclusion
Investments
Climate
Change
Cost of Living
Awards|**Just For Kids Law Limited**
**£48,000**
**Just Like Us**
**£8,000**
**JustRight Scotland**
**£3,000**
**Kala Sangam**
**£15,000**
**Kalayaan**
**£10,000**
**Karma Nirvana**
**£15,000**
**Kent Refugee Action**
**Network**
**£32,500**
**Khulisa**
**£10,000**
**Kids Kabin**
**£20,000**
**Kiln Theatre**
**£8,000**
**Kinship**
**£6,000**
**Land Workers’ Alliance**
**£13,260**|**Latin American Women’s**
**Rights Service**
**£5,000**
**Law Centres Federation**
**£13,000**
**Leap Confronting**
**Confict (Leap)**
**£12,000**
**Leap Confronting**
**Confict (Leap)**
**£12,000**
**LEAP Sports Scotland**
**£9,523**
**Learning Disability England**
**£2,500**
**Leeds Culture Trust**
**£28,885**
**Leeds Playhouse**
**£13,232**
**Leicestershire Cares**
**£24,087**
**Level Up**
**£11,800**
**LGBT + Consortium**
**£4,000**
**Liberdade Community**
**Development Trust**
**£12,000**|**Llamau**
**£3,000**
**Locality**
**£3,000**
**London International**
**Festival of Theatre**
**£4,000**
**Luminate**
**£2,500**
**Lyric Theatre Hammersmith**
**£15,500**
**Made In Hackney**
**£3,639**
**Mae Murray Foundation**
**£3,000**
**MAIA**
**£18,000**
**Manchester Innovation**
**Activities Hub Ltd**
**£6,000**
**Manchester International**
**Festival**
**£40,000**
**Manchester Metropolitan**
**University**
**£18,000**|**Marlborough Theatre**
**Productions Ltd**
**£12,000**
**Maslaha**
**£15,000**
**Maternal Mental Health**
**Alliance**
**£5,000**
**Maternity Action**
**£6,000**
**May Project Gardens CIC**
**£6,000**
**Metropolitan Arts Centre**
**£10,000**
**Migrant Voice**
**£24,000**
**Migrants Organise Ltd**
**£5,000**
**Migrants’ Rights Network**
**£4,000**
**Movements Trust Limited**
**£6,000**
**Museums Association**
**£31,379**
**Muslim Women’s**
**Network UK**
**£4,800**|**My Life Films**
**£12,000**| |---|---|---|---|---|---| ||||||**NACCOM**
**£5,000**| ||||||**National Appropriate**
**Adult Network**
**£7,000**| ||||||**National Community**
**Land Trust Network**
**£29,000**| ||||||**National Energy Action**
**(NEA)**
**£9,129**| ||||||**National Theatre (NT)**
**£32,600**| ||||||**National Theatre of Scotland**
**£5,000**| ||||||**National Ugly Mugs (NUM)**
**£2,000**| ||||||**National Ugly Mugs (NUM)**
**£13,200**| ||||||**National Youth Choirs of**
**Great Britain**
**£13,500**| ||||||**Nature Friendly Farming**
**Network (NFFN)**
**£47,327**| ||||||Auditors’
Report
Accounts| Esmée Fairbairn Foundation: Trustees’ Report 2023 63 ## Cost of Living Awards |**NBN Trust**
**£8,000**
**NI Environment Link**
**£28,000**
**NI Environment Link**
**£16,694**
**NL Cares Ltd**
**£1,250**
**Norfolk Rivers Trust**
**£3,650**
**North East Young Dads**
**and Lads Project**
**£4,000**
**North Pennines AONB**
**Partnership**
**£60,000**
**North Wales Wildlife Trust**
**£11,250**
**Northern Ireland Youth**
**Forum**
**£10,000**
**Northern Roots (Oldham)**
**£60,000**
**Northumberland Wildlife**
**Trust**
**£40,500**
**Nourish Scotland**
**£20,000**
**NWG Network**
**£19,050**
**Off the Record (Bristol)**
**£6,000**
**One25 Limited**
**£4,000**
**Onion Collective CIC**
**£15,000**
**Open Up Music**
**£3,000**
**Orchestras Live**
**£6,000**
**OrganicLea C.I.C.**
**£15,000**
**Ovalhouse Theatre Limited**
**£3,000**
**Oxford University,**
**Centre on Migration,**
**Policy and Society**
**£15,000**
**Parent-Infant Foundation**
**£4,000**
**Parents In Performing**
**Arts (PiPA)**
**£6,000**
**Pasture-Fed Livestock**
**Association CIC**
**£15,000**
**Pasture-Fed Livestock**
**Association CIC**
**£6,000**
**Paul Hamlyn Foundation**
**£8,000**
**Pause Creating Space**
**for Change**
**£19,886**
**Peak – Art in the Black**
**Mountains**
**£6,000**
**Peak District National**
**Park Authority**
**£44,000**
**Peckham Platform**
**£8,000**
**Peer Power Youth**
**£9,200**
**People First (Self Advocacy)**
**£5,000**
**People’s Palace Projects**
**£5,500**
**Pesticide Action**
**Network UK**
**£50,000**
**PHOTOVOICE**
**£6,000**
**Plantlife – The Wild Plant**
**Conservation Charity**
**£15,000**
**Platform**
**£18,000**
**Playing Out C.I.C**
**£12,000**
**Plunkett Foundation**
**£12,500**
**Plymouth Fishing and**
**Seafood Association**
**£6,000**
**Plymouth VCSE**
**£48,500**
**Positive Action In**
**Housing Ltd**
**£20,000**
**Power The Fight**
**£10,000**
**Powered By CAN Ltd**
**£10,000**
**Prison Reform Trust (PRT)**
**£24,000**
**Progressive Farming**
**Trust Limited**
**£20,000**
**Project Art Works**
**£15,000**
**Public Law Project**
**£5,528**
**Queen Mary University**
**of London**
**£5,500**
**RECLAIM Project**
**£13,333**
**Refugee Action**
**£6,000**
**Refugee Women Connect**
**£5,250**
**Release**
**£15,000**
**Rent-A-Role Drama Service**
**£16,000**
**Resonance**
**£5,000**
**Respect**
**£15,000**
**Restoke**
**£4,000**
**Rethinking Confict**
**£10,000**
**Revoluton Arts**
**£9,000**
**Rewilding Britain**
**£20,000**
Creative,
Confdent
Communities
Our Natural
World
A Sector Fit
for the Future
Governance
Overview
Home
A Fairer
Future
Diversity,
Equity and
Inclusion
Investments
Climate
Change
Cost of Living
Awards|**NWG Network**
**£19,050**
**Off the Record (Bristol)**
**£6,000**
**One25 Limited**
**£4,000**
**Onion Collective CIC**
**£15,000**
**Open Up Music**
**£3,000**
**Orchestras Live**
**£6,000**
**OrganicLea C.I.C.**
**£15,000**
**Ovalhouse Theatre Limited**
**£3,000**
**Oxford University,**
**Centre on Migration,**
**Policy and Society**
**£15,000**
**Parent-Infant Foundation**
**£4,000**
**Parents In Performing**
**Arts (PiPA)**
**£6,000**
**Pasture-Fed Livestock**
**Association CIC**
**£15,000**|**Pasture-Fed Livestock**
**Association CIC**
**£6,000**
**Paul Hamlyn Foundation**
**£8,000**
**Pause Creating Space**
**for Change**
**£19,886**
**Peak – Art in the Black**
**Mountains**
**£6,000**
**Peak District National**
**Park Authority**
**£44,000**
**Peckham Platform**
**£8,000**
**Peer Power Youth**
**£9,200**
**People First (Self Advocacy)**
**£5,000**
**People’s Palace Projects**
**£5,500**
**Pesticide Action**
**Network UK**
**£50,000**
**PHOTOVOICE**
**£6,000**|**Plantlife – The Wild Plant**
**Conservation Charity**
**£15,000**
**Platform**
**£18,000**
**Playing Out C.I.C**
**£12,000**
**Plunkett Foundation**
**£12,500**
**Plymouth Fishing and**
**Seafood Association**
**£6,000**
**Plymouth VCSE**
**£48,500**
**Positive Action In**
**Housing Ltd**
**£20,000**
**Power The Fight**
**£10,000**
**Powered By CAN Ltd**
**£10,000**
**Prison Reform Trust (PRT)**
**£24,000**
**Progressive Farming**
**Trust Limited**
**£20,000**
**Project Art Works**
**£15,000**|**Public Law Project**
**£5,528**
**Queen Mary University**
**of London**
**£5,500**
**RECLAIM Project**
**£13,333**
**Refugee Action**
**£6,000**
**Refugee Women Connect**
**£5,250**
**Release**
**£15,000**
**Rent-A-Role Drama Service**
**£16,000**
**Resonance**
**£5,000**
**Respect**
**£15,000**
**Restoke**
**£4,000**
**Rethinking Confict**
**£10,000**
**Revoluton Arts**
**£9,000**
**Rewilding Britain**
**£20,000**|**Rich Mix Cultural**
**Foundation**
**£13,333**| |---|---|---|---|---|---| ||||||**Right To Remain**
**£12,800**| ||||||**Right to Succeed CIO**
**£6,000**| ||||||**Right to Succeed CIO**
**£30,000**| ||||||**Rights Of Women**
**£16,000**| ||||||**River Action**
**£20,000**| ||||||**River Restoration Centre**
**£16,000**| ||||||**Roots of Empathy**
**£6,500**| ||||||**Royal Agricultural Society**
**of England**
**£20,000**| ||||||**Royal Exchange Theatre**
**Company Limited**
**£12,050**| ||||||**Royal Liverpool**
**Philharmonic Orchestra**
**£30,000**| ||||||Auditors’
Report
Accounts| Esmée Fairbairn Foundation: Trustees’ Report 2023 64 ## Cost of Living Awards |**Royal Shakespeare**
**Company (RSC)**
**£19,995**
**Royal Society for the**
**Protection of Birds**
**(RSPB) Scotland**
**£13,314**
**Royal Society of**
**Wildlife Trusts**
**£60,000**
**Royal Society of**
**Wildlife Trusts**
**£30,000**
**Royal Society of**
**Wildlife Trusts**
**£6,600**
**RSA**
**£12,000**
**RSPB (The Royal Society**
**for the Protection of Birds)**
**£30,000**
**Rural Housing Scotland**
**£5,000**
**Rural Media Charity**
**£6,628**
**Sadler’s Wells Trust Limited**
**£3,000**
**Safe and Sound Group**
**£4,000**
**SafeLives**
**£40,000**
**Safer London**
**£13,200**
**Sage Gateshead**
**£32,000**
**Saheliya**
**£14,000**
**Sandwell Council for**
**Voluntary Organisations**
**£6,230**
**School-Home Support**
**£6,000**
**SCOTLAND: The Big Picture**
**£7,000**
**Scottish Council for**
**Voluntary Organisations**
**£3,000**
**Scottish Creel**
**Fishermen’s Federation**
**£6,000**
**Scottish Environment LINK**
**£36,000**
**Scottish Wildlife Trust**
**£19,857**
**Scottish Wildlife Trust**
**£14,481**
**Scottish Wildlife Trust**
**£6,000**
**Seawilding**
**£5,238**
**Sense, The National**
**Deafblind And Rubella**
**Association**
**£17,600**
**ShareAction**
**£60,000**
**Sheffeld and Rotherham**
**Wildlife Trust**
**£5,000**
**Sheffeld Environmental**
**Movement (SEM)**
**£35,274**
**Signal Film & Media Limited**
**£8,000**
**Sistema Scotland**
**£30,000**
**Social Farms and Gardens**
**£2,550**
**South London Refugee**
**Association**
**£19,800**
**Southall Black Sisters**
**£14,950**
**Spark and Co BAME Hub**
**CIC**
**£6,000**
**Spark Inside**
**£24,000**
**Spectra**
**£25,018**
**Speech and Language UK**
**£5,000**
**St Christopher’s Fellowship**
**£12,960**
**Stand Alone**
**£4,650**
**Standing Together**
**Against Domestic Abuse**
**£27,330**
**Star (Student Action**
**For Refugees)**
**£12,000**
**Stay Up Late**
**£2,000**
**Stop The Traffk**
**£10,000**
**StopWatch**
**£25,859**
**Streetwise Opera**
**£12,000**
**Strike A Light (Gloucester)**
**£18,674**
**Stuart Hall Foundation**
**£19,544**
**Students Organising**
**for Sustainability**
**£13,216**
**Students Organising**
**for Sustainability**
**£5,923**
**Surfers Against Sewage**
**£29,000**
**Surviving Economic Abuse**
**£10,000**
**Sustain: The Alliance for**
**Better Food & Farming**
**£10,000**
**Sustainable Food Trust**
**£50,000**
**Swansea University**
**£10,000**
**Talking Birds Theatre**
**Company Ltd**
**£3,500**
**Tamar Grow Local CIC**
**£11,964**
Creative,
Confdent
Communities
Our Natural
World
A Sector Fit
for the Future
Governance
Overview
Home
A Fairer
Future
Diversity,
Equity and
Inclusion
Investments
Climate
Change
Cost of Living
Awards|**Safe and Sound Group**
**£4,000**
**SafeLives**
**£40,000**
**Safer London**
**£13,200**
**Sage Gateshead**
**£32,000**
**Saheliya**
**£14,000**
**Sandwell Council for**
**Voluntary Organisations**
**£6,230**
**School-Home Support**
**£6,000**
**SCOTLAND: The Big Picture**
**£7,000**
**Scottish Council for**
**Voluntary Organisations**
**£3,000**
**Scottish Creel**
**Fishermen’s Federation**
**£6,000**
**Scottish Environment LINK**
**£36,000**
**Scottish Wildlife Trust**
**£19,857**|**Scottish Wildlife Trust**
**£14,481**
**Scottish Wildlife Trust**
**£6,000**
**Seawilding**
**£5,238**
**Sense, The National**
**Deafblind And Rubella**
**Association**
**£17,600**
**ShareAction**
**£60,000**
**Sheffeld and Rotherham**
**Wildlife Trust**
**£5,000**
**Sheffeld Environmental**
**Movement (SEM)**
**£35,274**
**Signal Film & Media Limited**
**£8,000**
**Sistema Scotland**
**£30,000**
**Social Farms and Gardens**
**£2,550**
**South London Refugee**
**Association**
**£19,800**|**Southall Black Sisters**
**£14,950**
**Spark and Co BAME Hub**
**CIC**
**£6,000**
**Spark Inside**
**£24,000**
**Spectra**
**£25,018**
**Speech and Language UK**
**£5,000**
**St Christopher’s Fellowship**
**£12,960**
**Stand Alone**
**£4,650**
**Standing Together**
**Against Domestic Abuse**
**£27,330**
**Star (Student Action**
**For Refugees)**
**£12,000**
**Stay Up Late**
**£2,000**
**Stop The Traffk**
**£10,000**
**StopWatch**
**£25,859**|**Streetwise Opera**
**£12,000**
**Strike A Light (Gloucester)**
**£18,674**
**Stuart Hall Foundation**
**£19,544**
**Students Organising**
**for Sustainability**
**£13,216**
**Students Organising**
**for Sustainability**
**£5,923**
**Surfers Against Sewage**
**£29,000**
**Surviving Economic Abuse**
**£10,000**
**Sustain: The Alliance for**
**Better Food & Farming**
**£10,000**
**Sustainable Food Trust**
**£50,000**
**Swansea University**
**£10,000**
**Talking Birds Theatre**
**Company Ltd**
**£3,500**
**Tamar Grow Local CIC**
**£11,964**|**Tangled Feet Ltd**
**£2,000**| |---|---|---|---|---|---| ||||||**Tara Arts Group Ltd**
**£13,000**| ||||||**Tempo Time Credits Ltd**
**£3,000**| ||||||**Tender Education And Arts**
**£12,000**| ||||||**The 4Front Project Ltd**
**£24,000**| ||||||**The Advocacy Academy**
**£20,000**| ||||||**The AIRE Centre**
**£8,000**| ||||||**The Anthony Walker**
**Foundation**
**£35,000**| ||||||**The Bat Conservation Trust**
**£3,750**| ||||||**The Big House Theatre**
**Company**
**£11,962**| ||||||**The Blagrave Trust**
**£20,000**| ||||||**The Bluecoat**
**£9,200**| ||||||Auditors’
Report
Accounts| Esmée Fairbairn Foundation: Trustees’ Report 2023 65 ## Cost of Living Awards |**The Borders Forest Trust**
**£15,000**
**The British Federation**
**of Film Societies**
**£2,800**
**The British Film Institute**
**£9,851**
**The British Red Cross**
**Society**
**£12,000**
**The British Youth Council**
**£5,000**
**The Centre for Justice**
**Innovation**
**£30,000**
**The Challenging Behaviour**
**Foundation (CBF)**
**£3,000**
**The Community Supported**
**Agriculture Network UK**
**£10,000**
**The Dartington Hall Trust**
**£5,000**
**The Difference Education Ltd**
**£24,000**
**The Fawcett Society**
**£6,000**
**The Froglife Trust**
**£10,000**
**The Involve Foundation**
**£10,000**
**The Jericho Foundation**
**£6,981**
**The Jo Cox Foundation**
**£4,000**
**The Key (Registered as**
**Keyfund Federation Ltd)**
**£6,500**
**The Lancashire Wildlife**
**Trust**
**£31,500**
**The Langholm Initiative**
**£8,200**
**The Mix**
**£20,000**
**The Motherhood Plan**
**£4,300**
**The Music Works (Charity)**
**£10,000**
**The National Federation**
**Of Music Societies**
**£19,988**
**The National House Project**
**£12,000**
**The National Theatre**
**Of Wales**
**£10,000**
**The Open University**
**£15,000**
**The Orchard Project**
**£5,383**
**The Other Room**
**£6,000**
**The Paraorchestra and**
**Friends**
**£4,000**
**The Rivers Trust**
**£60,000**
**The Robertson Trust**
**£13,000**
**The Roundhouse Trust**
**£9,500**
**The Runnymede Trust**
**£12,000**
**The Social Change Nest CIC**
**£12,000**
**The Soil Association Limited**
**£21,018**
**The Soil Association Limited**
**£60,000**
**The Sporting Memories**
**Foundation**
**£5,291**
**The Student View**
**£12,000**
**The Sustainable Soils**
**Alliance Community**
**Interest Company**
**£30,000**
**The Switchback Initiative**
**£29,758**
**The Warren of Hull**
**£19,500**
**The Wildlife Trust for**
**Birmingham and the**
**Black Country**
**£10,000**
**The Women’s Budget Group**
**£6,000**
**The Woodmeadow Trust**
**£5,450**
**The World Reimagined Ltd**
**£35,500**
**The Young Vic**
**£20,000**
**The Youth Sport Trust**
**£6,000**
**the3million**
**£10,133**
**Theatr Clwyd Trust Ltd**
**£30,000**
**Theatre Absolute**
**£7,750**
**Theatre Orchard Projects**
**Limited**
**£10,000**
**Theatre Royal Stratford East**
**£6,000**
**Transform Drug Policy**
**Foundation**
**£5,000**
**Transform Theatre Projects**
**£7,000**
**Transport for All**
**£9,000**
**Trees for Life**
**£7,500**
**Tyne & Wear Archives &**
**Museums Development**
**Trust**
**£13,334**
**UK Feminista**
**£25,000**
Creative,
Confdent
Communities
Our Natural
World
A Sector Fit
for the Future
Governance
Overview
Home
A Fairer
Future
Diversity,
Equity and
Inclusion
Investments
Climate
Change
Cost of Living
Awards|**The Froglife Trust**
**£10,000**
**The Involve Foundation**
**£10,000**
**The Jericho Foundation**
**£6,981**
**The Jo Cox Foundation**
**£4,000**
**The Key (Registered as**
**Keyfund Federation Ltd)**
**£6,500**
**The Lancashire Wildlife**
**Trust**
**£31,500**
**The Langholm Initiative**
**£8,200**
**The Mix**
**£20,000**
**The Motherhood Plan**
**£4,300**
**The Music Works (Charity)**
**£10,000**
**The National Federation**
**Of Music Societies**
**£19,988**
**The National House Project**
**£12,000**|**The National Theatre**
**Of Wales**
**£10,000**
**The Open University**
**£15,000**
**The Orchard Project**
**£5,383**
**The Other Room**
**£6,000**
**The Paraorchestra and**
**Friends**
**£4,000**
**The Rivers Trust**
**£60,000**
**The Robertson Trust**
**£13,000**
**The Roundhouse Trust**
**£9,500**
**The Runnymede Trust**
**£12,000**
**The Social Change Nest CIC**
**£12,000**
**The Soil Association Limited**
**£21,018**
**The Soil Association Limited**
**£60,000**|**The Sporting Memories**
**Foundation**
**£5,291**
**The Student View**
**£12,000**
**The Sustainable Soils**
**Alliance Community**
**Interest Company**
**£30,000**
**The Switchback Initiative**
**£29,758**
**The Warren of Hull**
**£19,500**
**The Wildlife Trust for**
**Birmingham and the**
**Black Country**
**£10,000**
**The Women’s Budget Group**
**£6,000**
**The Woodmeadow Trust**
**£5,450**
**The World Reimagined Ltd**
**£35,500**
**The Young Vic**
**£20,000**
**The Youth Sport Trust**
**£6,000**|**the3million**
**£10,133**
**Theatr Clwyd Trust Ltd**
**£30,000**
**Theatre Absolute**
**£7,750**
**Theatre Orchard Projects**
**Limited**
**£10,000**
**Theatre Royal Stratford East**
**£6,000**
**Transform Drug Policy**
**Foundation**
**£5,000**
**Transform Theatre Projects**
**£7,000**
**Transport for All**
**£9,000**
**Trees for Life**
**£7,500**
**Tyne & Wear Archives &**
**Museums Development**
**Trust**
**£13,334**
**UK Feminista**
**£25,000**|**UK Youth**
**£40,000**| |---|---|---|---|---|---| ||||||**Ullswater Catchment**
**Management CIC**
**£3,000**| ||||||**Ulster Wildlife Trust**
**£29,500**| ||||||**Ulster Wildlife Trust**
**£35,000**| ||||||**Unity Theatre**
**£3,750**| ||||||**University Of Derby**
**Theatre Limited**
**£16,000**| ||||||**University of Lincoln**
**£5,500**| ||||||**Unlock**
**£15,000**| ||||||**Urban Development**
**Music Foundation**
**£6,000**| ||||||**Utopia Theatre**
**£6,000**| ||||||**Venture Arts**
**£10,000**| ||||||Auditors’
Report
Accounts| Esmée Fairbairn Foundation: Trustees’ Report 2023 66 ## Cost of Living Awards |**Voice of Young People**
**in Care**
**£12,000**
**Voluntary Action Orkney**
**£20,000**
**Voluntary Action Sheffeld**
**£25,000**
**Voyage**
**£5,253**
**Wales Environment Link**
**£22,000**
**We Belong**
**£4,200**
**Westway Trust**
**£18,000**
**Who Cares? Scotland**
**£6,000**
**Wilderculture CIC**
**£6,000**
**WildFish**
**£29,500**
**Wildlife and Countryside**
**Link**
**£5,500**
**Wildlife and Countryside**
**Link**
**£49,765**|**With One Voice –**
**international arts and**
**homelessness movement**
**£3,500**| |---|---| ||**WWF – UK**
**£36,500**| ||**Wysing Arts Centre**
**£2,000**| ||**YMCA George**
**Williams College**
**£6,000**| ||**Yorkshire Dales National**
**Park Authority**
**£24,000**| ||**Yorkshire Wildlife Trust**
**£22,000**| ||**Yorkshire Wildlife Trust**
**£55,000**| ||**Young Scot**
**£5,000**| ||**YWCA Scotland – The**
**Young Women’s Movement**
**£12,533**| ||**Zahid Mubarek Trust**
**£30,000**| ||**ZoieLogic Dance Theatre**
**£6,764**| Home Overview Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural A Sector Fit World for the Future Cost of Living Awards Governance Auditors’ Report Accounts Esmée Fairbairn Foundation: Trustees’ Report 2023 67 ## TASK Fund **Each Trustee at Esmée Fairbairn Foundation has an annual TASK budget of £90,000 to be used for donations within the charitable purposes of the Foundation at the individual Trustee’s discretion. TASK donations may sit outside our current funding priorities. As donations, they are not managed in the same way as Esmée’s main grant funding.** Home Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Governance Awards Auditors’ Report Accounts Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 68 ## TASK Fund |**Anne Frank Trust UK**
**£5,000**
**At The Bus**
**£15,000**
**Beating Time**
**£14,000**
**BLKOUT**
**£10,000**
**British Trust for Ornithology**
**£15,000**
**Britten Pears Arts**
**£10,000**
**Camden Arts Centre**
**£5,500**
**Camden United CIC**
**£15,000**
**Campaign for the Arts**
**£5,000**
**Canine Partners for**
**Independence**
**£10,000**
**Carefree**
**£20,000**
**Charlbury Museum**
**and Heritage Centre**
**£3,000**
**Chess in Schools**
**and Communities**
**£5,000**
**Classics for All**
**£10,000**
**Coffee Afrik CIC**
**£5,000**
**Community Foundation**
**for Leeds**
**£10,000**
**Continuo Foundation**
**£20,000**
**County Durham**
**Community Foundation**
**£2,000**
**Curlew Action**
**£15,000**
**Dartmoor National**
**Park Authority**
**£5,000**
**David Rattray**
**Memorial Trust**
**£5,000**
**DEC**
**£10,000**
**Durrell Wildlife**
**Conservation Trust – UK**
**£15,000**
**East London Music Group**
**£15,000**
**East Neuk Festival**
**£5,000**
**Empty Kitchens Full**
**Hearts SCIO**
**£10,000**
**English Touring Opera**
**£5,000**
**Etchingham Parochial**
**Church Council**
**£8,000**
**Father 2 Father CIC**
**£10,000**
**FFCC Ltd**
**£10,000**
**Florence Nightingale**
**Foundation**
**£5,000**
**Gerry’s Pompeii Charity**
**£7,000**
**Great Dixter**
**Charitable Trust**
**£7,000**
**Greenhouse Sports**
**£10,000**
**GROW Foundation**
**£15,000**
**Growing Against Violence**
**£5,000**
**Handicap International UK**
**£10,000**
**Handicap International UK**
**£10,000**
**Herriot Hospice Homecare**
**£2,000**
**Impact 100 London**
**(via Prism the Gift Fund)**
**£10,000**
**Institute for the future**
**of work**
**£12,000**
**Jewish Book Council**
**£5,000**
**Jigsaw4u**
**£10,000**
**Kaa Intrepidus Trust**
**£5,000**
**KOKO Foundation**
**£10,000**
**Lifeshare Ltd**
**£6,000**
**Lincolnshire Wildlife Trust**
**£15,000**
**London Handel Society**
**Limited**
**£15,000**
**Longborough Festival Opera**
**£5,000**
**MAMASUZE C.I.C.**
**£15,000**
**Medecins Sans**
**Frontieres UK**
**£5,000**
**Mental Disability**
**Advocacy Centre**
**£10,000**
**Migration Museum Project**
**£10,000**
**Museum of the Troubles**
**and Peace**
**£15,000**
**National Library of Scotland**
**£5,000**
**Norfolk Wildlife Trust**
**£8,000**
Creative,
Confdent
Communities
Our Natural
World
A Sector Fit
for the Future
Governance
Overview
Home
A Fairer
Future
Diversity,
Equity and
Inclusion
Climate
Change
Cost of Living
Awards
Investments|**Chess in Schools**
**and Communities**
**£5,000**
**Classics for All**
**£10,000**
**Coffee Afrik CIC**
**£5,000**
**Community Foundation**
**for Leeds**
**£10,000**
**Continuo Foundation**
**£20,000**
**County Durham**
**Community Foundation**
**£2,000**
**Curlew Action**
**£15,000**
**Dartmoor National**
**Park Authority**
**£5,000**
**David Rattray**
**Memorial Trust**
**£5,000**
**DEC**
**£10,000**|**Durrell Wildlife**
**Conservation Trust – UK**
**£15,000**
**East London Music Group**
**£15,000**
**East Neuk Festival**
**£5,000**
**Empty Kitchens Full**
**Hearts SCIO**
**£10,000**
**English Touring Opera**
**£5,000**
**Etchingham Parochial**
**Church Council**
**£8,000**
**Father 2 Father CIC**
**£10,000**
**FFCC Ltd**
**£10,000**
**Florence Nightingale**
**Foundation**
**£5,000**
**Gerry’s Pompeii Charity**
**£7,000**
**Great Dixter**
**Charitable Trust**
**£7,000**|**Greenhouse Sports**
**£10,000**
**GROW Foundation**
**£15,000**
**Growing Against Violence**
**£5,000**
**Handicap International UK**
**£10,000**
**Handicap International UK**
**£10,000**
**Herriot Hospice Homecare**
**£2,000**
**Impact 100 London**
**(via Prism the Gift Fund)**
**£10,000**
**Institute for the future**
**of work**
**£12,000**
**Jewish Book Council**
**£5,000**
**Jigsaw4u**
**£10,000**
**Kaa Intrepidus Trust**
**£5,000**
**KOKO Foundation**
**£10,000**|**Lifeshare Ltd**
**£6,000**
**Lincolnshire Wildlife Trust**
**£15,000**
**London Handel Society**
**Limited**
**£15,000**
**Longborough Festival Opera**
**£5,000**
**MAMASUZE C.I.C.**
**£15,000**
**Medecins Sans**
**Frontieres UK**
**£5,000**
**Mental Disability**
**Advocacy Centre**
**£10,000**
**Migration Museum Project**
**£10,000**
**Museum of the Troubles**
**and Peace**
**£15,000**
**National Library of Scotland**
**£5,000**
**Norfolk Wildlife Trust**
**£8,000**|**O.N.E. (Our Needed**
**Education) CIC**
**£15,000**| |---|---|---|---|---|---| ||||||**OaKley ASN LTD**
**£10,000**| ||||||**Olympias Music Foundation**
**£12,000**| ||||||**Orchestra of the Age**
**of Enlightenment**
**£10,000**| ||||||**Outside In**
**£10,000**| ||||||**Ovingham Middle School**
**£6,000**| ||||||**Oxford Bach Soloists**
**£7,500**| ||||||**Oxford Hospitals Charity**
**£10,000**| ||||||**Oxford Lieder**
**£5,000**| ||||||**Oxford Philharmonic**
**Orchestra Trust**
**£10,000**
| ||||||**Parham Airfeld Museum**
**£2,000**| ||||||Auditors’
Report
Accounts| Esmée Fairbairn Foundation: Trustees’ Report 2023 69 ## TASK Fund |**Paul Canoville Foundation**
**£10,000**
**People Know How**
**£10,000**
**Picture Hooks**
**£5,000**
**Pro Bono Economics**
**£5,000**
**Project for the Registration**
**of Children as British Citizens**
**£10,000**
**Rekindle School Ltd**
**£15,000**
**Royal Opera House Covent**
**Garden Foundation**
**£5,000**
**Rukhshana Media**
**£20,000**
**Salusbury World**
**£8,000**
**Samantha’s Legacy CIC**
**£5,000**
**Schola Cantorum of Oxford**
**£15,000**
**Shelter, National Campaign**
**for Homeless People Limited**
**£5,000**|**Shine for Dementia CIO**
**£10,000**
**South Downs National**
**Park Trust**
**£10,000**
**St Clement And St James**
**Community Development**
**Project**
**£15,000**
**St John’s College, Cambridge**
**£10,000**
**Studio Wayne McGregor**
**£10,000**
**Support and Action for**
**Women’s Network (SAWN)**
**£5,000**
**The Avenues Youth Project**
**£7,500**
**The Balsam Centre**
**£5,000**
**The British Film Institute**
**£5,000**
**The Charlybury Corner**
**House and Memorial**
**Hall Trust**
**£5,000**
**The Egmont Trust**
**£5,000**|**The English Concert**
**£10,000**
**The Forward Trust**
**£5,000**
**The Foundling Museum**
**£20,000**
**The Handlebards CIO**
**£10,000**
**The Line Art Walk**
**£12,000**
**The Literature Prize**
**Foundation**
**£15,000**
**The Marian Consort**
**£20,000**
**The Open Door**
**£10,000**
**The Oxford Parent Infant**
**Project (OXPIP)**
**£2,500**
**The Paul Cottingham Trust**
**£20,000**
**The Queens Reading Room**
**£5,000**
**The Town Moor Charity**
**£20,000**|**The Zoological Society**
**of London**
**£5,000**| |---|---|---|---| ||||**Tribe Arts**
**£12,000**| ||||**Tutor the Nation**
**£5,000**
| ||||**University of Sheffeld**
**£10,000**| ||||**University of the Arts**
**London**
**£5,000**| ||||**Wood Street Mission**
**£5,000**| ||||**Worcester College**
**£10,000**| ||||**Works Plus**
**£10,000**| ||||**Zion Arts Centre Limited**
**(trading as Z-arts)**
**£15,000**| Home Overview Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Accounts Report Esmée Fairbairn Foundation: Trustees’ Report 2023 70 # Governance and Administration Home Diversity, Equity and Inclusion Climate Change Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Overview A Fairer Future Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 71 ## Objectives and Activities ## Values **----- Start of picture text -----**
Equity Ambition
Kindness Working
together
Integrity
**----- End of picture text -----**
Pages 5 to 13 give an overview of funding, a list of all grants and social investments made in 2023 is on pages 19 to 69. The public benefit created by the Foundation’s grant-making and social investment is demonstrated in this report through listing of grants and social investments that we have made. Our values act as a guide for staff and Trustees about how we work at Esmée. They are intended to provide a frame of reference for taking actions and making decisions at every level. Esmée Fairbairn Foundation exists and operates for the public benefit. Through setting its strategy and through its funding the Foundation has focused on creating social and environmental impact to improve our natural world, secure a fairer future and strengthen the bonds between communities in the UK. In determining its strategy and in the administration of the Foundation generally, the Trustees have paid due regard to the guidance published by the Charity Commission under section 4 of the Charities Act 2011. In October 2020, the Foundation launched its Strategic Plan 2020 to 2025. In 2023, the Board decided to extend the strategy until 2027. See Esmée Fairbairn Foundation’s strategy. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future Cost of Living Awards Governance A Fairer Future Investments Diversity, Equity and Inclusion Change Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 72 ## Structure, Governance and Management The operation of Esmée Fairbairn Foundation is governed by a Charity Commission Scheme, dated 14 January 2002, which enables the assets to be applied by the Trustees at their discretion for general charitable purposes. The Charity Commission approved an incorporation of the Trustee body on 16 June 2008 in the name of The Trustees of Esmée Fairbairn Foundation. The Foundation is a charity registered in England and Wales, number 200051. ## Audit and Risk Committee ## Trustee Board The Foundation has a clear organisational structure with documented lines of authority and delegation, which is reviewed regularly by the Audit and Risk Committee and the Trustee Board. The Foundation also has segregation of duties with regard to governance, management, grant-making, social investments, finance and investment. Procedures are in place for documenting decisions, actions and issues. The Audit and Risk Committee reviews and recommends to the Trustee Board systems of internal control on financial and governance issues and oversees risk management. It also reviews the draft Annual Report and Accounts and meets with the Foundation’s external auditors. The Foundation’s Trustees are listed on page 74 of this report. The Trustee Board meets six times each year to set and oversee the delivery of the Foundation’s strategy. A number of Trustee committees support the work of the Foundation throughout the year. Finance and Administration Committee Trustees are recruited through a professionally supported open recruitment with vacancies widely advertised. When recruiting new Trustees, the Board consider the current make-up of the Board and where skills gaps exist alongside the current diversity of the Board. Trustees serve an initial term of five years and may then serve up to an additional two further terms of office. In exceptional circumstances, the Board may agree to extend a Trustee’s period of office for a stated time period beyond fifteen years. An induction programme is put in place for new trustees alongside ongoing professional support for all board members. The Finance and Administration Committee reviews and recommends to the Trustee Board annual budgets, staff remuneration and benefits. It also oversees major property, IT, governance and other projects. The salaries of the senior management team are set by the Finance and Administration Committee and includes reference to peers and other comparators. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Investments Diversity, Equity and Inclusion Change ## Investment Committee The Investment Committee formulates investment policy, oversees its implementation, manages overall asset allocation, monitors investment performance and reports to the Trustee Board. ## Nominations Committee The Nominations Committee makes recommendations to the Trustee Board on the appointment of new Trustees. ## Funding decisions An Executive Committee takes decisions on grants up to £90,000. An Approvals Committee, comprising Trustee and Executive members, takes decisions on grants and awards up to £250,000 and social investments up to £500,000. All decisions on grants and awards over £250,000 and social investments over £500,000 go to the Trustee Board. Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 73 ## Financial Policies The Foundation’s finance and Funding targets are arrived at with investment policies are intended consideration given to the average to provide long-term stability and value of the investment portfolio, liquidity sufficient for the financing but may be adjusted to take account of the Foundation’s grants and of need and operational capacity. social investments while maintaining Funding targets may be over or the real value of the main under-spent in an individual year. investment portfolio. The Foundation’s support and governance spend is set by The Foundation has an Investment reference to total spend levels Policy Statement that sets out the to ensure it remains reasonable long-term investment objective, and proportionate. The levels of manager concentration, currency exposure, leverage and liquidity are also key factors in managing the risks of the investment portfolio. Policies and restrictions to help manage these risks are included in the Investment Policy Statement. The Foundation has a riskmanagement process designed to identify the major risks that could impact on the aims in the Foundation’s Strategic Plan. This process identifies the major risks the Foundation faces, the likelihood of occurrence, the significance of the risk, and any mitigating controls that are in place. It also seeks to identify any actions and resources required to manage these risks further. ## Reserves The Foundation has an Investment Policy Statement that sets out the long-term investment objective, risk-profile, strategic asset allocation and investment restrictions. This is reviewed annually. The Foundation’s strategic asset allocation reflects a total-return objective without specific focus on income-generating investments. This approach means that we consider all sources of return, including interest, dividends, capital distributions from funds, and realised and unrealised gains and losses. Income alone would not usually meet all of our future spending needs. All funds held by the Foundation are unrestricted and available to the Foundation to apply for the general purposes of the Foundation as set out in its governing document. The Foundation aims to achieve a total return of RPI +4% in order to meet its spending requirements. At the year-end the value of reserves held was £1.242 billion. The Foundation’s investment activities are its main financial risk. This risk is managed, with the support of investment advisers, through: regular review of our investment policy; management of strategic asset allocation; risk measurement and reporting; independent valuation and performance reporting; diversification across a broad range of asset classes, geographies, investment managers and investment strategies; and ongoing market and manager updates and due diligence. The Trustee Board is responsible for the oversight of the risks faced by the Foundation. The Trustee Board and Audit and Risk Committee regularly review the Foundation’s risk position, internal controls assessment and compliance with relevant statutory and finance regulations. The Trustees are satisfied that the Foundation has sufficient reserves to continue as a going concern please refer to note 1 for further details. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Investments Diversity, Equity and Inclusion Change Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 74 ## Trustees, Senior Management Team, Committees and Advisers ## Trustees ## Beatrice Hollond Professor Claire Alexander Edward Bonham Carter Tom Chandos (retired: 31.12.23) Joe Docherty Flora Fairbairn (retired: 04.09.23) John Fairbairn Professor David Hill CBE Elspeth Jones (from 04.09.23) Baroness Kate Lampard CBE (retired: 30.09.23) Dame Clare Moriarty (from 04.09.23) Sir Jonathan Phillips (retired: 31.12.23) ## Gautham Radhakrishnan (from 01.01.24) Mary Ann Sieghart (from 04.09.23) Eleanor Updale Dr Wanda Wyporska ## Senior Management Team Dame Caroline Mason CBE Chief Executive James Wragg Chief Operating Officer Matt Cox Investment Director Gina Crane Director of Communications and Learning Veda Harrison Director – Creative, Confident Communities Catherine Hillis Director – A Fairer Future ## Liam McAleese Director – Our Natural World See a full list of staff. Investments Diversity, Equity and Inclusion ## Committees Audit and Risk Committee Professor David Hill CBE Chair Professor Claire Alexander John Fairbairn Elspeth Jones (from 04.09.23) Finance and Administration Committee Beatrice Hollond Chair Edward Bonham Carter Tom Chandos (to 31.12.23) Professor David Hill Sir Jonathan Phillips (to 31.12.23) Investment Committee Edward Bonham Carter Chair ## Beatrice Hollond Tom Chandos (to 31.12.23) Climate A Fairer Future Change Joe Docherty Dame Caroline Mason CBE Jason Mitchell (Co-opted member) ## Gautham Radhakrishnan Nominations Committee Beatrice Hollond Chair Professor Claire Alexander (from 01.01.24) ## Edward Bonham Carter John Fairbairn Baroness Kate Lampard CBE (to 30.09.23) Sir Jonathan Phillips (to 31.12.23) Our Natural World Creative, Confident Communities A Sector Fit for the Future ## Advisers Independent Auditors PricewaterhouseCoopers LLP 1 Embankment Place London WC2N 6RH Solicitors Berwin Leighton Paisner Adelaide House London Bridge London EC4R 9HA Veale Wasbrough Vizards LLP 24 King William Street London EC4R 9AT Bankers Royal Bank of Scotland plc London Victoria (A) Branch 119/121 Victoria Street London SW1E 6RA Cost of Living Awards Governance Investment Advisers Cambridge Associates Ltd Cardinal Place 80 Victoria Street London SW1E 5JL Custodian JPMorgan Chase Bank, N.A. 25 Bank Street Canary Wharf London E14 5JP ## Esmée Fairbairn Foundation 210 Pentonville Rd London N1 9JY 020 7812 3700 info@Esméefairbairn.org.uk @EsmeeFairbairn www.esmeefairbairn.org.uk Registered charity 200051 Auditors’ Accounts Report Home Overview Esmée Fairbairn Foundation: Trustees’ Report 2023 75 ## Statement of Trustees’ Responsibilities Home Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Overview Investments Esmée Fairbairn Foundation: Trustees’ Report 2023 76 ## 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 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 these financial statements, the trustees are required to: The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Signed in the name and on behalf of The Trustees of Esmée Fairbairn Foundation: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and estimates that are reasonable and prudent; The trustees’ report on pages 4 to 76 were approved and authorised for issue by the Trustee Board on 2 July 2024. Beatrice Hollond Chair 2 July 2024 - state whether applicable accounting standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future Cost of Living Awards Governance A Fairer Future Auditors’ Report Accounts Home Overview Investments Diversity, Climate Equity and Change Inclusion Esmée Fairbairn Foundation: Trustees’ Report 2023 77 ## Our History In 1961 Ian Fairbairn, a leading City figure, decided to endow a charitable foundation with the bulk of his holdings in M&G, the company he had joined some 30 years before. M&G was a pioneer of the unit trust industry in the UK. It grew out of Ian Fairbairn’s determination that investments in equities, previously the preserve of the affluent, should be available to all – giving everyone the potential to own a stake in the nation’s economy. His purpose in establishing the Foundation was two-fold. In the interests of wider prosperity, he aimed to promote a greater understanding of economic and financial issues through education. He also wanted to establish a memorial to his wife, Esmée, who had played a prominent role in developing the Women’s Royal Voluntary Service and the Citizens Advice Bureau. She was killed in an air-raid during the Second World War. Prior to Ian’s death in 1968 he indicated that the Foundation should support a broad range of charitable purposes. Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Change Esmée Fairbairn’s sons, Paul and Oliver Stobart, also contributed generously to the Foundation established in their mother’s memory. In 1999 the Foundation sold its holding in M&G as part of the company’s takeover by the Prudential Corporation plc. As a result, the Foundation’s endowment grew significantly in value as did the size and scope of the grants it was able to make. Today, Esmée Fairbairn Foundation is one of the largest independent funders in the UK. Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 78 ## Auditors’ Report and Financial Statements Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Governance Awards Auditors’ Report Home Overview Accounts Investments Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 79 ## Independent auditors’ report to the trustees of Esmée Fairbairn Foundation Report on the audit of the financial statements ## Opinion In our opinion, Esmée Fairbairn Foundation’s financial statements (the financial statements”): - give a true and fair view of the state of the charity’s affairs as at 31 December 2023 and of its incoming resources and application of resources, and cash flows, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law); and - have been prepared in accordance with the requirements of the Charities Act 2011 and Regulation 8 of The Charities (Accounts and Reports) Regulations 2008. We have audited the financial statements, included within the Annual Report and Accounts (the “Annual Report”), which comprise: the balance sheet as at 31 December 2023; the statement of financial activities and cash flow statement for the year then ended; and the notes to the financial statements, which include a description of the significant accounting policies. ## Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## _Independence_ We remained independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. Conclusions relating to going concern ## Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from the date on which the financial statements are authorised for issue. In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the charity’s ability to continue as a going concern. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## Reporting on other information The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities. Based on our work undertaken in the course of the audit, the Charities Act 2011 requires us also to report certain opinions and matters as described below. ## _Trustees’ Report_ Under the Charities Act 2011 we are required to report to you if, in our opinion the information given in the Trustees’ Annual Report is inconsistent in any material respect with the financial statements. We have no exceptions to report arising from this responsibility. information. If, based on the work Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 80 ## Independent auditors’ report to the trustees of Esmée Fairbairn Foundation _continued_ Responsibilities for the financial statements and the audit _Responsibilities of the Trustees for the financial statements_ As explained more fully in the Statement of Trustees’ Responsibilities, the trustees are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The trustees are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. _Auditors’ responsibilities for the audit of the financial statements_ We are eligible to act and have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Based on our understanding of the charity, we identified that the principal risks of non-compliance with laws and regulations related to the Charities Act 2011 and relevant regulations made or having an effect thereunder including the Charities (Accounts and Reports) Regulations 2008, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered these laws and regulations as having a direct impact on the financial statements. We evaluated the incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) by the trustees and those responsible for, or involved in, the preparation of the financial statements, and determined that the principal risks were related to the posting of inappropriate journals to manipulate financial results or conceal the misappropriation of assets and potential management bias in accounting estimates. Audit procedures performed included: - identifying and testing journal entries, in particular journal entries posted with unusual account combinations to expenditure accounts; - obtaining independent confirmations of cash balances and investment valuations as at 31 December 2023; - assessing the reasonableness of key accounting judgements and estimates including the fair value of investments; - enquiring of management and A further description of our the Audit and Risk Committee, responsibilities for the audit of the including consideration of known financial statements is located on or suspected instances of nonthe FRC’s website at: www.frc.org.uk/ compliance with laws and auditorsresponsibilities. This regulations and fraud; description forms part of our auditors’ report. - reading minutes of meetings including the Board of Trustees, Investment Committee and the Audit and Risk Committee; - assessing financial statement disclosures, and testing to supporting documentation, for compliance with applicable laws and regulations. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 81 Independent auditors’ report to the trustees of Esmée Fairbairn Foundation _continued_ ## _Use of this report_ This report, including the opinions, has been prepared for and only for the charity’s trustees as a body in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act (Part 4 of The Charities (Accounts and Reports) Regulations 2008) and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing. ## Other required reporting Charities Act 2011 ## exception reporting Under the Charities Act 2011 we are required to report to you if, in our opinion: • we have not received all the information and explanations we require for our audit; or - sufficient accounting records have not been kept by the charity; or • the financial statements are not in agreement with the accounting records. PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors London 11 July 2024 We have no exceptions to report arising from this responsibility. Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 82 ## Statement of Financial Activities ## Balance Sheet ## For the year ended 31 December 2023 ## At 31 December 2023 **----- Start of picture text -----**
Notes 2023 2023 2023 2022 2022 2022 Notes 2023 2022
£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Unrestricted Restricted Total Funds Unrestricted Restricted Total Funds Unrestricted and total Unrestricted and total
Income and endowments from: Fixed assets
Investments 2 7,785 - 7,785 6,207 - 6,207 Tangible assets 8 274 187
Other 2 456 175 631 427 575 1,002 Investments 9 1,285,910 1,303,259
Total 8,241 175 8,416 6,634 575 7,209 Programme related investments 10 17,393 17,832
Mixed motive investments 11 394 205
Expenditure on:
Raising funds 3,5 3,290 - 3,290 3,305 - 3,305 Total fixed assets 1,303,971 1,321,483
Charitable activities 4,5 63,235 - 63,235 41,117 - 41,117
Current assets
Total 66,525 - 66,525 44,422 - 44,422 Debtors 12 431 545
Cash at bank and in hand 3,144 3,378
Net gains/(losses) on investments 9 32,027 - 32,027 (140,310) - (140,310)
Total current assets 3,575 3,923
Net (expenditure)/income (26,257) 175 (26,082) (178,098) 575 (177,523)
Creditors: Amounts falling due within one year 13 (35,617) (32,790)
Transfer between funds 175 (175) - 575 (575) -
Net current liabilities (32,042) (28,867)
Net movement in funds (26,082) - (26,082) (177,523) - (177,523)
Funds at 1 January 1,268,306 - 1,268,306 1,445,829 - 1,445,829 Total assets less current liabilities 1,271,929 1,292,616
Funds at 31 December 17 1,242,224 - 1,242,224 1,268,306 - 1,268,306 Creditors: Amounts falling due after more than one year 14 (29,705) (24,240)
Provisions: for liabilities 16 - (70)
Total funds 17 1,242,224 1,268,306
**----- End of picture text -----**
The notes on pages 84 to 93 form part of these accounts. The Foundation has no recognised gains or losses other than the net movement in funds for the year. The net (expenditure)/income and resulting net movement in funds in each of the financial years are from continuing operations. The notes on pages 84 to 93 form part of these accounts. The accounts were approved and authorised for issue by the Trustee Board on 2 July 2024. Signed in the name and on behalf of The Trustees of Esmée Fairbairn Foundation: Beatrice Hollond Chair Home Overview Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Accounts Report Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 83 ## Cash Flow Statement ## For the year ended 31 December 2023 |Notes
2023
2022
£’000
£’0000
Net cash used in operating activities
20
(57,210)
(43,204)
Cash fows from investing activities
Income from investments
7,785
6,207
Sale of investments
111,566
121,656
Purchase of investments
(59,015)
(116,189)
(Increase)/decrease in investment cash
(11,867)
51,356
(Increase)/decrease in other investment balances
(7,342)
16,571
Cash infow/(outfow) on derivative fnancial instruments
16,034
(35,382)
Purchase of tangible fxed assets
(182)
(56)
Net cash provided by investing activities
56,979
44,163
Cash fows from fnancing activities
Cash outfow to fnance lease commitments
(3)
(3)
Net cash used in fnancing activities
(3)
(3)
Change in cash in the year
(234)
956
Cash brought forward
3,378
2,422
Cash carried forward
3,144
3,378|Analysis of changes in net debt
As at
1 January
2023
£’000
Cash Flows
£’000
As at
31 December
2023
£’000| |---|---| ||Cash at bank and in hand
3,378
(234)
3,144
Finance leases
12
(3)
9| ||Total
3,390
(237)
3,153| ||The notes on pages 84 to 93 form part of these accounts.| Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Governance Awards Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 84 ## Notes to the accounts 1. Basis of accounting and accounting policies ## Legal status The Foundation is a charity registered in England and Wales, number 200051. The Foundation’s registered address is 210 Pentonville Rd, London, N1 9JY. The operation of Esmée Fairbairn Foundation is governed by a Charity Commission Scheme, dated 14 January 2002, which enables the assets to be applied by the Trustees at their discretion for general charitable purposes. The Charity Commission approved an incorporation of the Trustee body on 16 June 2008 in the name of The Trustees of Esmée Fairbairn Foundation. ## Basis of accounting The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the relevant version of 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) issued in October 2019, rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Foundation meets the definition of a public benefit entity under FRS 102. The presentation currency of these financial statements is sterling. All amounts in the financial statements have been rounded to the nearest £1,000. Judgements made by the Trustees, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the valuation of investments and are discussed below. The Trustees are satisfied that the Foundation has sufficient reserves and liquidity within the investment portfolio to continue as a going concern for the next 12 months from the date of approval of these financial statements. Cash flow forecasts are regularly prepared; assets within the investment portfolio can be liquidated to meet short term requirements. ## Income Income is recognised in the Statement of Financial Activities in the period in which the Foundation becomes entitled to receipt. With respect to income from Equity, Alternative, and Fixed income investments, dividend income and related tax credits are recognised from the ex-dividend date when they become receivable and interest income from funds and investment cash is recognised when received. With respect to Other income, interest income from cash held in bank accounts is recognised when received, income from Programme Related Investments and Mixed Motive Investments is recognised when received, and grant income is recognised when earned. ## Expenditure Direct costs of generating funds, charitable activities and support costs are charged to the relevant category or activity according to the area to which the expenditure relates. Support costs incurred that relate to more than one cost category are apportioned based on the number of full-time equivalent staff allocated to that activity. ## Grant funding Grants are recognised as expenditure in the year in which they are approved and such approval has been communicated to the recipients. ## Pension The Foundation operates a defined contribution group personal pension scheme for employees. The assets of the scheme are held separately from those of the Foundation. The annual contributions are charged to the Statement of Financial Activities. Employee benefits include all costs incurred by the charity in exchange for the services of its employees. Expenditure is recognised for all employee benefits resulting from their service to the charity during the reporting period unless the staff costs have been capitalised as part of the cost of an asset. ## Irrecoverable VAT Irrecoverable Value Added Tax (VAT) is included in the Statement of Financial Activities within the ## Leased assets expenditure to which it relates. Assets obtained under finance leases are capitalised as tangible fixed assets and depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Foundation. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payments is charged to the Statement of Financial Activities over the period of the lease. ## Taxation The Foundation is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable trust for UK income tax purposes. Accordingly, the charity is potentially exempt from UK taxation in respect of income or capital gains received within categories covered by Part 10 Income Tax Act 2007 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. All other leases are operating leases. Operating lease annual rentals are charged to the Statement of Financial Activities on a straight-line basis over the term of the lease. To the extent that the Foundation basis over the term of the lease. engages in overseas activity, or derives income from overseas, it may Cash and cash equivalents incur a foreign tax liability depending Cash and cash equivalents comprise on the application of the tax cash held at bank. legislation in the relevant jurisdiction. ## Investments ## Tangible fixed assets Tangible fixed assets are included in the balance sheet at cost less accumulated depreciation. Leasehold improvements are depreciated over the term of the lease. Office and computer equipment is depreciated at between 20% and 33% per annum. Depreciation is charged on a straightline basis over the assets’ useful lives. ## _Alternative investments_ Alternative investments are valued at the Foundation’s best estimate of fair value as follows: Hedge funds and collective investment schemes are valued by reference to the market value of their underlying investments. These valuations are provided by the third Home Overview Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 85 ## 1. Basis of accounting and accounting policies _continued_ investment funds and partnerships, and similar programme related investments are held at cost, less any provision for diminution in value, unless the Foundation is able to obtain a reliable estimate of fair value. Quoted investments are stated at market value at the balance sheet date. party fund administrators and are subject either to independent valuation or annual audit. ‘charitable activities’ within the Statement of Financial Activities. and are subject either to independent valuation or annual audit. _Derivative financial instruments_ Derivatives are recognised in the Balance Sheet at fair value. Where the Foundation uses forward currency contracts to reduce currency exposure in its investment portfolio the fair value of these forward exchange contracts is estimated by using the gain or loss that would arise from closing the contract at the balance sheet date. Managers of segregated funds may enter into derivatives as part of their portfolio risk management, fair values of these derivatives are provided by the fund managers. Realised and unrealised gains and losses on all other investment assets are shown net of transaction costs and are included in ‘Net gains on investments’ within the Statement of Financial Activities. Private equity investments are held through funds managed by private equity groups. As there is no identifiable market price for private equity funds, these funds are included at the most recent valuations from the private equity groups where: ## Mixed motive Investments Realised and unrealised gains and losses on foreign exchange A mixed motive investment is an asset held by a charity that provides funding to organisations in order to generate a financial return for the investing charity and contribute to the investing charity’s purposes through the activities funded by the investment. transactions i. the private equity group provides a fair value that complies with the International Private Equity and Venture Capital Valuation Guidelines; or Transactions denominated in foreign currency are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currency are translated at the exchange rate ruling at the balance sheet date. All gains and losses on exchange, realised and unrealised, are included in the appropriate income or expenditure category in the Statement of Financial Activities. ii. the private equity group provides valuations that comply with International Financial Reporting Standards or US GAAP. Mixed motive investments are recognised in the balance sheet at the point the first drawdown is paid out. Mixed motive investments that are private equity investments are held through funds managed by private equity groups. As there is no identifiable market price for private equity funds, these funds are included at the most recent valuations from the private equity groups. ## Programme related Investments A programme related investment is an asset held by a charity that provides investment funding to organisations in order to directly further the charitable purposes of the investing charity; any financial return obtained is not a primary reason for making the investment. Where a valuation is not available at the balance sheet date, the most recent valuation from the private equity group is used, adjusted for cashflows and foreign exchange movements and any impairment between the most recent valuation and the balance sheet date. ## Provisions A provision is recognised in the balance sheet when the entity has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate Programme related investments are recognised in the balance sheet at the point the first drawdown is paid out. Programme related investments that are loans are accounted for at the outstanding amount of the loan less any provision for unrecoverable amounts. Unquoted equity, social ## _Other investments_ Realised and unrealised gains and losses on investments Other investments are stated at fair value, the basis of fair value being the market value of the underlying investments held. These valuations are provided by the fund managers Realised and unrealised gains and losses on progamme-related investments are included in Our Natural World Climate Creative, Confident Communities A Sector Fit for the Future A Fairer Future Investments Diversity, Equity and Inclusion Change of the amount required to settle the obligation at the reporting date. ## Related party transactions Transactions with related parties are disclosed in the notes to these financial statements. The Foundation’s policy is for Trustees, Executive and advisers to declare their interest and recuse themselves from all relevant discussions and decisions which may involve a transaction with a related party or in which they may have a conflict of interest. ## Financial instruments Basic financial assets, including debtors and cash at bank are carried at amortised cost. Programme related investments are held at cost less impairment, an impairment loss is the difference between the carrying amount and the present value of the estimated cash flows, if there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. Impairment losses and reversals are recognised in profit and loss. Investments and mixed motive investments are initially measured at fair value, which is normally the transaction price, such assets are subsequently carried at fair value and the changes in fair Cost of Living Awards Governance value are recognised in profit or loss. All financial liabilities including grant commitments and trade creditors are basic financial instruments which are valued at amortised cost. ## Key accounting estimates, assumptions, and judgements In the preparation of the accounts the trustees are required to make estimates, assumptions, and judgements that have an impact on figures reported in the financial statements. Other than investments, the valuation of which has been discussed, the trustees do not consider there to be any other significant estimates, assumptions, or judgments within the financial statements. Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 86 ## 2. Income and endowments |2. Income and endowments||||||| |---|---|---|---|---|---|---| |Income from investments|2023|2023|2023|2022|2022|2022| ||£’000|£’000|£’000|£’000|£’000|£’000| ||Unrestricted|Restricted|Total Funds|Unrestricted|Restricted|Total Funds| |Equity investments|147|-|
147|104|
-|
104| |Alternative investments|2,620|
-|
2,620|
3,866|
-|
3,866| |Fixed income investments|1,498|
-|
1,498|
1,279|
-|
1,279| |Investment cash and other investment balances|3,520|-|
3,520|
958|
-|
958| |Total income from investments|7,785|
-|
7,785|
6,207|
-|
6,207| |Other income|2023
£’000
Unrestricted|2023
£’000
Restricted|2023
£’000
Total Funds|2022
£’000
Unrestricted|2022
£’000
Restricted|2022
£’000
Total Funds| |Bank interest|30|
-|
30|
4|
-|
4| |Income from programme related investments|453|
-|
453|
435|
-|
435| |Investment loss from mixed motive investments|(27)|-|
(27)|(12)|-|
(12)| |Grant Income|-|
175|
175|
-|
575|
575| |Total other income|456|
175|
631|
427|
575|
1,002| ## 3. Expenditure on raising funds |3. Expenditure on raising funds||| |---|---|---| ||2023
£’000|2022
£’000| |Advisers’ and custodian fees and borrowing costs|2,662|
2,718| |Direct staff and other costs|250|
253| |Support cost allocation|378|
334| |Total expenditure on raisingfunds|3,290|
3,305| ## 4. Expenditure on charitable activities |4. Expenditure on charitable activities||| |---|---|---| ||2023
£’000|2022
£’000| |Grant funding|58,037|36,862| |Investment loss from programme related investments|896|
689| |Direct staff and other costs|1,755|
1,346| |Support cost allocation|2,547|
2,220| |Total expenditure on charitable activities|63,235|
41,117| Grants, Programme Related Investments, and Mixed Motive Investments approved in the year are listed on pages 84 to 93 in the Annual Report accompanying these accounts. In the Annual Report, Programme Related Investments are referred to as Social Investments and Mixed Motive Investments are referred to as Impact Investments. All funding approved is to organisations. ## 5. Support cost allocation |5. Support cost allocation|||| |---|---|---|---| ||Raising|Charitable|| ||funds|activities|2023
2022| ||£’000|£’000|£’000
£’000| |Support staff costs|161|966|
1,127
980| |Premises,technologyand other costs|217|1,581|
1,798
1,574| |Total support costs|378|2,547|
2,925
2,554| |Total support costs for theprioryear|334|2,220|| Total Trustees’ expenses of £21,133 (2022: £17,737) are included in support costs and in costs of generating funds. Expenses were reimbursed to 10 (2022: 7) Trustees during the year and were related to travel. The Trustees received no remuneration for their role as Trustee during this or the preceding year. Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 87 ## 6. Staff costs |6. Staff costs||| |---|---|---| ||2023
£’000|2022
£’000| |Salaries|2,364|
1,941| |Social security costs|257|
219| |Pension contributions|281|
242| |Other staff related costs|213|
154| |Total staff costs|3,115|
2,556| The Foundation operates a defined contribution group personal pension scheme and makes employer contributions of 12.5% when matched by a 5% employee contribution. Redundancy and ex gratia payments of £175,000 (2022: £0) are included within total staff costs. The Foundation considers its key management personnel comprise the trustees and the senior management team. The senior management team consists of 7 (2022: 7) employees, 6.8 (2022: 6.8) on a full-time basis. The total employment benefits including employer pension contributions of the senior management team were £721,169 (2022: £659,913). The Trustees are not remunerated. ## The average number of employees during the year calculated on a full-time basis was as follows: ||2023|2022| |---|---|---| |Investment management and oversight|3|
3| |Funding|34|
31| |Governance|2|
2| |Total number of employees|39|
36| The number of employees who received remuneration of more than £60,000 in the year was as follows: |The number of employees who received remuneration of more than
£60,000 in the year was as follows:||| |---|---|---| ||2023|2022| |£60,000 – £69,999|4|
1| |£70,000 – £79,999|1|
3| |£80,000 – £89,999|2|
1| |£90,000 – £99,999|1|
1| |£100,000 – £109,999|1|
-| |£110,000 – £119,999|-|
-| |£120,000 – £129,999|-|
1| |£130,000 – £139,999|-|
-| |£140,000 – £149,999|1|
-| All the employees paid over £60,000 had employer contributions, equal to 12.5% of salary, made under the group personal pension scheme, this is consistent with the approach for all employees. ## 7. Auditors’ Remuneration The current year auditors are PwC, their remuneration constituted an audit fee of £98,000. The prior year auditors were KPMG, their remuneration constituted of an audit fee of £111,000 and non audit services; tax advisory fee of £12,000. The average number of employees during the year calculated on a head count basis was 41 (2022: 38). Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 88 ## 8. Tangible assets ## 9. Investments |8. Tangible assets|||||| |---|---|---|---|---|---| |||||Offce and|| |||Leasehold||
computer|| |||improvements||equipment|Total| |||£’000||£’000|£’000| |Cost|||||| |At 1 January 2023||527||746|
1,273| |Additions in the year||-||
182|
182| |Disposals in theyear||(527)||(99)|(626)| |At 31 December 2023||-||829|
829| |Accumulated depreciation|||||| |At 1 January 2023||527||559|
1,086| |Depreciation charge for year||-||
95|
95| |Accumulated depreciation on disposals||(527)||(99)|(626)| |At 31 December 2023||-||
555|
555| |Net book value|||||| |At 31 December 2023||-||
274|
274| |At 1January2023||-||
187|
187| |9. Investments||| |---|---|---| |i)Market value|2023
£’000|2022
£’000| |Equity investments
Fixed income investments
Alternative investments
Money market investments
Investment cash
Other investment balances
Derivative fnancial instruments|521,079
70,560
585,888
23,875
73,180
5,370
5,958|448,660
48,773
690,677
45,594
61,770
(1,972)
9,757| |Total market value of investments|1,285,910|1,303,259| Alternative Investments comprise private equity funds of £414.9m (2022: £488.9m), hedge funds of £140.5m (2022: £171.9m), and collective investment schemes of £30.5m (2022: £29.8m) Investment cash includes all cash balances managed as part of the investment portfolio. Other investment balances include collateral related to the forward currency contracts, accrued income, amounts receivable on investment sales and accrued investment costs. The Foundation has entered into commitments to invest in private equity funds. At the balance sheet date outstanding commitments totalled £128.8m (2022: £113.2m). The Foundation models its cashflows based upon the original commitment. The net book value of assets held under finance leases included above is £9,100 (2022: £12,220) and the depreciation charge on these assets for the year was £3,120 (2022: £3,120). Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 89 ## 9. Investments _continued_ |9. Investments_continued_||||||| |---|---|---|---|---|---|---| ||Market value|||||Market value at| ||at 1 January|||Sale|
Investment|
31 December| ||2023|Purchases||proceeds|gain/(loss)|2023| |ii) Purchases, sales, gains
and (losses)|£’000||£’000|£’000|£’000|£’000| |Market value||||||| |Equity investments|448,660||7,650|(7,536)|72,305|521,079| |Fixed income investments|48,773||20,051|-|1,736|70,560| |Alternative investments|690,677||31,314|(80,625)|(55,478)|585,888| |Moneymarket investments|45,594||-|(23,405)|1,686|23,875| |Total|1,233,704||59,015|(111,566)|20,249|1,201,402| |||Book cost at||||Book cost at| |||1|January||Sale|
31 December| ||||2023|Purchases|proceeds|2023| |iii) Reconciliation to book cost|||£’000|£’000|£’000|£’000| |Book cost and realised gains/(losses)||||||| |Equity investments||336,402||7,650|(7,517)|336,535| |Fixed income investments|||51,380|20,051|-|71,431| |Alternative investments|||414,431|31,314|(45,039)|400,706| |Moneymarket investments|||45,000|-|(22,500)|22,500| |Total book cost|||847,213|59,015|(75,056)|831,172| |Market value adjustment||||||| |Unrealisedgains/(losses)||386,491||-|(16,261)|370,230| |Total||1,233,704||59,015|(91,317)|1,201,402| ||||2023|
2022| |---|---|---|---|---| |iv) Derivative fnancial instruments|||£'000|
£'000| |Derivativeposition atyear end|||5,958|
9,757| |Derivative fnancial instruments total netpositions|||5,958|
9,757| ||Realised|
Unrealised||| |v) Realised and unrealised gains/|gain/(loss)|
gain/(loss)|2023|
2022| |(losses) on investments|£'000|
£'000|
£'000|
£'000| |Equity investments|19|
72,286|
72,305|
(88,909)| |Fixed income investments|-|
1,736|
1,736|
(3,701)| |Alternative investments|35,586|
(91,064)|(55,478)|(25,331)| |Moneymarket investments|905|
781|
1,686|
589| ||36,510|
(16,261)|20,249|
(117,352)| |Investment cash and other investment balances
Derivative fnancial instruments|(1,134)
16,034|677

(3,799)|
(457)
12,235|1,175

(24,133)| |Totalgains/(losses)on investments|51,410|
(19,383)|32,027|
(140,310)| |Gains/(losses)in theprioryear|18,887|
(159,197)|(140,310)|| Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 90 ## 9. Investments _continued_ |9. Investments_continued_||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |vi) UK and overseas holdings|||||||||2023
£'000|
2022

£'000| |Equity investments||||||||||| |Overseas listed|||||||||119,816|107,985| |Overseas unlisted|||||||||301,497|252,681| |UK listed|||||||||45,722|42,410| |UK Unlisted|||||||||54,044|45,584| |Fixed income investments|||||||||521,079|
448,660| |Overseas listed|||||||||48,553|
48,773| |Overseas unlisted|||||||||22,007|-| |Alternative investments|||||||||70,560|
48,773| |Overseas unlisted|||||||||575,350|680,843| |UK unlisted|||||||||10,538|9,834| |Money market investments|||||||||585,888|
690,677| |Overseas listed|||||||||23,875|45,594| ||||||||||23,875|
45,594| |Total|||||||||1,201,402|
1,233,704| ## 10. Programme Related Investments |||||Market value|||||||Market value at| |---|---|---|---|---|---|---|---|---|---|---|---| |||||at 1 January||||||Investment|
31 December| |||||2023||Drawn||Repaid||gain/(loss)|2023| |||||£'000||£'000||£'000||£'000|
£'000| |Market value|||||||||||| |Equity investments||||1,893||250||-||-|
2,143| |Fixed income investments||||5,144||1,520||(433)||(644)|
5,587| |Alternative investments||||10,795||1,897||(2,777)||(252)|9,663| |||||17,832||3,667||(3,210)||(896)|17,393| Reconciliation of book cost to market value has not been disclosed as the market value of the portfolio is not materially different from cost. Alternative investments comprise land, social investment funds, convertible notes, and quasiequity investments. At the year end £5.0m (2022 £5.0m) of programme related investment had been committed but remained undrawn, and a further £9.5m (2022 £1.7m) was approved subject to agreement of terms, making a total promised of £14.5m (2022: £6.7million). Programme Related Investments approved in the year are listed on pages 31, 39, and 50 in the Annual Report accompanying these accounts. In the Annual Report, Programme Related Investments are referred to as Social Investments. Domicile of investment holdings is determined by the place of listing of the fund vehicle not of the underlying securities held therein. Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 91 ## 11. Mixed Motive Investments |.|||Market value|||||||Market value at| |---|---|---|---|---|---|---|---|---|---|---| ||||at 1 January||||Sale||Investment|
31 December| ||||2023||Purchases||Proceeds||(loss)|2023| ||||£'000||£'000||£'000||£'000|
£'000| |Market value|||205||216||-||(27)|394| ||||205||216||-||(27)|394| ## 14. Creditors: amounts falling due after one year |14. Creditors: amounts falling due after one year||| |---|---|---| ||2023|2022| ||£’000|£’000| |Grant commitments|29,699|
24,009| |Commitments due under fnance leases
Deferredgrant income|6
-|
9

222| |As at 31 December|29,705|
24,240| At the year end a total of £2.6m (2022 £0.8m) of mixed motive investments had been committed but remained undrawn. Mixed motive investments approved in the year are listed on page 50 in the Annual Report accompanying these accounts. In the Annual Report, Mixed Motive Investments are referred to as Impact Investments. Deferred grant income relates to donations received associated with Programme Related Investments to be made by the Foundation. The income is earned when drawdown payments are made on the associated Programme Related Investments. The programme began in the prior year. No grant income was received in the current year, £175,000 (2022: £0) was released from prior year’s deferral. |12. Debtors|||||||2023
£'000|2022

£'000| |---|---|---|---|---|---|---|---|---| |Accrued grant income|||||||250|
340| |Prepayments and other debtors|||||||181|
205| |As at 31 December|||||||431|
545| 13. Creditors: amounts falling due within one year |13 Creditors: amounts fallin due within one ear||| |---|---|---| |. g y|2023|2022| ||£’000|£’000| |Grant commitments|34,240|
31,226| |Accruals|480|
268| |Trade and other creditors|77|
63| |Commitments due under fnance leases
Commitments due under joint funder initiative|3
548|
3

1,008| |Deferredgrant income|269|
222| |As at 31 December|35,617|
32,790| ## 15. Grant commitments |||| |---|---|---| |15. Grant commitments|2023|2022| ||£’000|£’000| |Grant commitments at 1 January|55,235|
58,531| |Grants approved|58,477|
37,052| |Grants cancelled|(388)|(162)| |Grantpayments|(49,385)|(40,186)| |Grant commitments at 31 December|63,939|
55,235| |16. Provisions for liabilities|2023|2022| ||£’000|£’000| |As at 1 January|70|
70| |Credit for theyear|(70)|-| |As at 31 December|-|
70| The provision relates to possible future liabilities arising from contracts entered into by the Foundation. All grants are made to organisations, grants approved in the year are listed on pages 19 to 69 in the Trustees’ Report accompanying these accounts. Three grants over £1m were awarded in the year: £3m was awarded to LocalMotion, £1.5m was awarded to Baobab Foundation, and £1.5m was awarded to Civic Power Fund. Climate A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Governance Awards Auditors’ Report Accounts Home Overview Investments Diversity, Climate Equity and Change Inclusion Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 92 ## 17. Reserves |17. Reserves|||| |---|---|---|---| ||2023
2023
2023
2022|2022|2022| ||£’000
£’000
£’000
£’000|£’000|£’000| ||Unrestricted
Restricted
Total Funds
Unrestricted|Restricted|Total Funds| |As at 1 January|1,268,306
-
1,268,306
1,445,829|
-|
1,445,829| |Net (expenditure)/income|(26,257)
175
(26,082)
(178,098)|575|
(177,523)| |Other recognised losses|-
-
-
-|
-|
-| |Transfer between funds|175
(175)
-
575|
(575)|-| |Net movement in funds in theyear|(26,082)
-
(26,082)
(177,523)|-|
(177,523)| |As at 31 December|1,242,224
-
1,242,224
1,268,306|
-|
1,268,306| All unrestricted funds held by the Foundation are available to the Foundation to apply for the general purposes of the Foundation as set out in its governing document. ## 18. Operating leases At year end the Foundation had lease agreements in respect of property for which payments extend over a number of years. |Total future minimum lease payments under non-cancellable operating leases for|2023|2022| |---|---|---| |each of the following periods:|£’000|£’000| |Not later than one year;
Later than oneyear and not later than fveyears|596
2,384|
248

-| |Total future minimum lease payments under||| |non-cancellable operating leases|2,980|
248| Rent expense of £577,440 (2022: £660,699) regarding the leased property is included in support costs. ## 19. Related party transactions Professor Claire Alexander is Trustee of Stuart Hall Foundation which was awarded a grant of £195,444 in February 2022 which was paid £64,548 in April 2022, was awarded and paid £19,544 in February 2023, awarded £65,148 in April 2023 and £65,748 in April 2024, and was awarded a further grant of £7,470 in March 2023 which was paid in March 2023. Professor David Hill is Trustee of The Food, Farming and Countryside Commission Ltd which was awarded a grant of £9,785 in October 2023, was awarded a further grant of £10,000 in September 2023 which was paid in September 2023, was awarded a further grant of £59,435 in July 2023 and was paid £28,075 of this in October 2023, was awarded a further grant of £10,000 in April 2023 which was paid in April 2023, was awarded a further grant of £1,250,000 in December 2022 and paid £800,000 of this in April 2023, and was awarded a further grant of £30,000 in September 2022 which was paid in April 2023. The Food, Farming and Countryside Commission Ltd was also awarded a grant of £60,000 in July 2022 which was paid in August 2022, was awarded a further grant of £33,650 in December 2021 which was paid in January 2022, and was awarded a further grant of £2,454,972 in April 2020 the final payment of £748,852 on this award was made in August 2022. Professor David Hill is Chair of Plantlife International The Wild Plant Conservation Charity which was awarded and paid a grant of £15,000 in February 2023, was awarded a grant of £60,000 in July 2023 which was paid in August 2023, was awarded a further grant of £280,185 in July 2023 and paid £93,395 of this in August 2023, and was awarded a further grant of £463,359 in April 2023 and was paid £134,453 of this in August 2023. A close family member of Baroness Kate Lampard is the President of Kent Wildlife Trust which the Foundation committed £350,000 to as a Social Investment which was fully drawn in August 2023. Baroness Kate Lampard is Trustee of The Royal Horticultural Society which was awarded a grant of £60,000 in June 2023 which was paid £30,000 in October 2023. Sir Johnathan Phillips is Trustee of Oxford Philharmonic Orchestra Trust which was awarded a grant of £10,000 in February 2023 which was paid in August 2023. Wanda Wyporska was Chief Executive of Black Equity Organisation (BEO) which was awarded a grant of £300,000 in November 2023. She left the organisation in November 2023. Wanda Wyporska is Trustee and Vice Chair of Equally Ours which was awarded a grant of £250,000 in November 2021 which was paid £50,000 in May 2023 and was awarded and paid a further grant of £25,000 in February 2023. Joe Docherty is Chair of The University of Durham which was awarded a grant of £166,900 in February 2022 which was paid £103,100 in July 2022, and was awarded a further grant of £16,690 in January 2023 and paid in February 2023. Dame Clare Moriarty is Chair of South Downs National Park Trust which was awarded and paid a grant of £10,000 in October 2023. Dame Caroline Mason was a board member of Impact Investing Institute which was awarded a grant of £101,179 in January 2023 which was paid in April 2023. She left the organisation in March 2023. The Foundation’s approach to related party transactions is outlined on page 85. Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Investments Diversity, Equity and Inclusion Esmée Fairbairn Foundation: Auditors’ Report and Financial Statements 2023 93 ## 20. Net cash used in operating activities |20. Net cash used in operating activities||| |---|---|---| ||2023
£’000|2022
£’000| |Net (loss) for reporting period|(26,082)|(177,523)| |Adjustments for:||| |Depreciation charge for the year|95|
86| |Decrease in provisions|(70)|-| |(Gains)/losses on investments|(32,027)|140,310| |Income from investments|(7,785)|(6,207)| |Decrease/(increase) in debtors|114|
(346)| |Increase/(decrease) in creditors
Cash outfow to programme related investments
Cash infow from programme related investments|8,295
(3,667)
3,210|
(1,691)
(4,324)

6,007| |Increase in programme related investments provisions
Cash outfow to mixed motive investments|896
(216)|
689
(217)| |Losses on mixed motive investments|27|
12| |Net cash used in operatingactivities|(57,210)|(43,204)| Income from investments includes both dividend and interest income, please refer to note 2 for further detail. ## 21. Financial instruments At 31 December the Foundation held the following financial instruments |21. Financial instruments
At 31 December the Foundation held the following fnancial instruments||| |---|---|---| ||2023|2022| ||£’000|£’000| |Financial assets measured at fair value:||| |Investments|1,285,910|
1,303,259| |Mixed motive investments|394|
205| |Financial assets measured at cost less impairment:|1,286,304|
1,303,464| |Programme related investments|17,393|
17,832| |Financial assets measured at amortised cost:|17,393|
17,832| |Debtors|431|
545| |Cash at bank and in hand|3,144|
3,378| |Financial liabilities measured at amortised cost:|3,575|
3,923| |Grant commitments|(63,939)|(55,235)| |Trade and other creditors
Commitments due under fnance leases|(77)
(9)|(63)
(12)| |Commitments due underjoint funder initiative|(548)|(1,008)| ||(64,573)|(56,318)| |Total|1,242,699|
1,268,901| Investments Climate A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview Diversity, Climate Equity and Change Inclusion Esmée Fairbairn Foundation: Annual Report and Accounts 2023 94 ## Photo credits ## Esmée Fairbairn Foundation 210 Pentonville Rd London N1 9JY 020 7812 3700 info@Esméefairbairn.org.uk @EsmeeFairbairn Esmee Fairbairn Foundation @esmeefairbairn www.esmeefairbairn.org.uk Registered charity 200051 Cover © Filwood Community Centre © Spey Catchment Initiative © Voice of Domestic Workers © Feedback Global Limited © Sussex Bay Initiative Nudge Community Builders © Hanna Collins Poetic Unity © Ruma Film Page 3 © The Advocacy Academy Page 18 © The Rivers Trust Page 21 Poetic Unity © Ruma Film Page 23 © Civic Power Fund Page 28 Justice Collaborations © Illustration by Aleesha Nandhra Page 29 © Rainbow Migration © The Voice of Domestic Workers Page 30 © Voice4Change England Limited Page 31 © SharpFutures Page 34 © OPEN Shetland Page 35 © Place Matters Page 36 © Filwood Community Centre Page 37 Entelechy Arts Limited © Roswitha Cheshire Page 45 © Feedback Global Limited Page 47 © Sussex Bay Initiative Page 48 Environmental Rights Centre for Scotland © Open Aye Page 50 © Ooooby Page 56 © LocalMotion Page 24 © JustRight Scotland Page 38 Nudge Community Builders © Kinship © Hanna Collins Page 25 © For Baby’s Sake Trust Page 42 © The Open Seas Trust Page 26 © Standing Together Against Page 43 © Spey Catchment Initiative Domestic Abuse Page 44 © The Chartered Institute of Page 27 © Committee on the Water and Environmental Administration of Justice Management Design: Steers McGillan Eves Investments Diversity, Equity and Inclusion Climate Change A Fairer Future Creative, Confident Communities Our Natural World A Sector Fit for the Future Cost of Living Awards Governance Auditors’ Report Accounts Home Overview