Charity registration number.. 258308
The Jerusalem Foundation
Annual Report and Financial Statements
for the Year Ended 31 December 2023
ocm
acmole

The Jerusalem Foundation
Contents {continuedl
Reference and Adminis1181ive Detsils
Trustee's Report
2to5
Independent Auditors. Report
6t08
Stslemenl of Financial Activities
Balan￿ Sheet
Cash Flow Statement
Notes to the Finanaal Statements
12to25

The Jerusalem Foundation
Reference and Administrative Details
Trust••
Jerusalem Foundation Trustees Limited
Charity Registration Number
258306
Principal Officè
20 Gloucester Place
London
W1U8HA
Auditor
A C Mole LLP
Slafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
Soli¢itor¥
Payne Hicks Beach
Lincoln's Inn
10 New Square
Holborn
London
WC2A 3QG
Page 1

The Jerusalem Foundation
Trustee's Report
The member presents the annual report together with the financial statements of the charity for the year ended
31 December 2023.
The TrLJStee confirms that the financi81 5tatetnents h8ve been prepared in accordance wth the accx)unting
policies set out In notes to the accounts and comply with the Charrty's governing document, the Chaiities Act
2011 and Accounting and Reporting by Charitie5." Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Stand8rd applicable In the UK and Republic
of Ireland published on 1 JanLJary 2019.
Reference and Administrative Details
The Foundation is registered as a Charity with the Charity Commission, registration number 2583(K.
Details of the Trustee and professional advisors are shown on page 1.
Note 17 lists the directors of the corporate Trustee.
The Trustee delegates day to day responsibility to the sole employee which is the National Director and to Prism
The Gift Fund who provide administrative support.
Objectives and activities
The objects of the Foundation are as follows..
To assist in and promote the preservation. repair. erllbellishment, and upkeep of the religious siles, temples and
monurnents of the Holy City of Jerusalem for the inspiration of people of all faith5.
To as51St in and prornote the excavation, repairs, preservation and upkeep of such historic sites and antiquit1fy5
of JetUS8lem as are of permanent educational value lo rnankind and whith will contribute lo the instruction and
enlighlenmenl of the peoples of 811 nations.
To assist In and support all such education 01 religious projects in Jerusalem as ale directed to purposes which
are exclusively charitable.
To assist in and SLJPPOrt the relief of poverty, sickness and distress in Jerusalem without regard to race, creed
or colour.
Grant moking policies
The granl-making policy of the Trustee is to support the objectives of The Jerusalem Foundation
Amuta in
Israel. The restricted funds are cornprised principally of donations re￿iVed for earmarked purposes. In addrfcion lo
the grants made from restricted funds, the Trustee also makes discretionary grants from Un￿striCted funds.
Details of all grants are shown in note 6 to the financial slalernents.
Publlc bgnoflt
The Iruslee confirm that they have complied with the requirernents of section 17 of the Charities Act 2011 to have
due reg8id lo the public benefit guidance published by the Charity Commission foi England and Wales.
Achievements and perfomianeè
During the year the Foundation received funds from both individuals and grant-making foundations. Grants
amounted to for specific charitable purposes induding Education, Arts & Gulture and Social WeWare we
remitted to The Jerusalem Foundation - Amuta on an earmarked basis. In the year gifts made from donors
included..
Jerusalem Bolanlical Gardens
Wohl Rose
George Pinto Fellowships
Emergenw Fund
The Trustee is giateful to all those who have tn8de donations.
Page 2

The Jerusalem Foundation
Trustee's Report {continued}
Investment policy and perfomiance
There ale no iestrictions on the Foundation's powers of investment. The management of the endowment funds,
portfolios continLJe to be administrated by Verita5 Investment Partner5 IUKI Ltd to whom fLJII discietion and
delegation ha5 been given. It is accordingly hoped that the portfo1105 of inve5ttnents held wll help tneet the
Trustee's objectives of maintaining a sufficient income stream for servicing the requirements of the restricted and
unrestricted income funds.
The fair value ofthe investments at 31 December 2023 was £2,648,92812022". £2,637,733).
Financial review
The Foundation raised total income in the year of 23,465,734 12022." £2,089,201) and incurred costs of raising
funds of £82,328 12022". 279,3011. In the year donations of £3,966,437 12022". 21,605,067) were rnade to The
JerLJsalem Foundation in Israel. Monies are held In the Foundation in the UK until they are approved by the
Trustee following the receipt of an approved proposal report.
At 31 December 2023 the Foundation had net assets of £4,646,901 12022. £5,100,498). Restricted funds totslled
£2,007,13512022." £2,513,2061, endowment funds £2,672,59012022". £2,6e3,1051 and unrestricted funds were in
a deficit of £32,82412022.' deficit of £75,813>.
Reserves policy
It Is the policy of the Foundation to maintain flee reserves at a level to meet its operating costs for a period (rf at
least one year.
At the end of the financial period, unrestricted funds were left in a defiat position of £32,82412022.' defiat of
£75,813). The trustee recognises that this deficit on unrestricied funds needs to be resolved. In December 2023
£121,439 was drawndown from the Kolleck expendable endowment to dear the prior year defiat position and
provide funds towards 2023. In October 2024 the Board approved a further drawdown from the Kollek
expendable endowment fund of £40,000 to clear the 2023 defiat position. A review of the current 2024 position is
being undertaken by the Trustee in order to ensure a defiat position does not arise as at 31 De￿mber 2024.
Plans for future periods
It is the Trustee's intention to continue seeking out and supporting suitable projects in Jerusalern in accordance
with and subjed lo the terms of the Foundation's objectives. The events of 7 October and the ongoing situation
have imp8¢ted on the entire country. including Jerusalem
and have again refocused our fundraising efforts
towards healing trauma as well as shared living.
In addition. Shai Doron, the pie51dent of the Jeiu58lem Foundation and directoi of the corporate trustee
Jerus8lern Foundation Trustees Limited. tragically died in July 2024. Al the IiTne of subtnitting these aocounls 8
ieciuitment process 15 undei way in Jeiu581em to select the next president. There Is a new focLJS on a young
leadership programrne and a new swimrning pool and cotntnunity centre in East Jerusalern - both will be done in
his memory.
The Foundation eontinLJes to iaise money for the new bLJilding project foi the Hassadna Music Consetvatory
(where building work has now started) among other key projects across the aty.
Structure, governance and management
Governing doeumènt
The charty is ctsntrolled by its goveming document, a deed of trust and constitutes an uninctsrporated charity.
Page 3

The Jerusalem Foundation
Trustee's Report {continued}
Principal term5 of the Trust
To apply the whole or any part of the trust fund, whether income or capital, in or towards the implementation of
any one or rnore objects of the Foundation, whether by way of investment. contribution. donation or otherwise.
To pay or apply the capital or incorne of the trust fvnd in or towards the payment of expenses to the Foundation.
Organisational structure
The Jerusalem Foundation was constituted under a decl8r81ion of trust d8led 17 March 1969.
The power of appointing new Trustees is vested in the Trustee. The current Trustee is responsible for the
indLJCtion of any new TrLJStees which involves aw8reness of the responsibility as Trustees. the goveming
docutnent, administiative proceduie5 and the history of the Foundation. A new Trustee would le￿1¥e copies of
the previous yearfs 8nnu818coounls.
Director5 of the corporate Trustee rneet regulady as an executive body to review the running and operations of
the Charity.
Prism The Gift Fund was appointed to eary out the administrative work of the Foundation. Consideration of
charitable donations is the responsibility of the Trustee.
Risk management
The Trustee has assessed the major risks to which the Foundation is exposed. There are regular meetings
between the officer in charge of administration and representatives of the Trustee to review the financial records.
The Trustee is satisfied the systems are in pla￿ to mitigate the risk.
Safeguarding poli¢y.' Working with beneficiarie8 0ver¥ea¥
The Foundation has a safeguarding policy in place as the safety and welfare of any children, young people or
vulnerable adults (collectively, 'vulnerable persons'l assisted or otherwise impacted by our work or the activities
and programrnes we support is of pararnount importance lo us. complian￿ with local legal and regulatory
standards and best practice are considered the absolute minimum requirement and the Foundation may seek
assurances that higher standards are imposed. Adherence to this policy is a condition of funding frorn the
Foundation.
Page 4

Th• J•ru•al•m Found•tlon
TN•l••'s R•port (conllnued)
slatWn￿ of TnMt••'• R••pM•lblllll
The trusteè is responsibk8 lor prgparirq th• tru8ts•'8 r•port and th8 fina￿la1 statsments in 8ccordan￿ vAth
appluble law aThJ Unlted Kingdom Accounling Stsnd8rd$ In¢￿dhYj Flnanc4al Reporting Slandard 102.. Tho
Financid Reporting Standard ap￿￿0b* In thg UK and Republ￿ of Ireland IUnit6d lQngdom Gener￿lY Accepted
AccountiryJ Practic•l.
The law appli¢8ble to th8ribeB In England & we￿ rnquk•s Ihe tsuslee to prepare financial statements for
flnancaal year %thich give a true and falr vlew of the 5ts10 91 affairs of Iha charity and of the Incomg and
expendituie of the Gharity for that P8rlod. In pr•parlng th660 financial slatements. the tru$t8o is r8quired to..
5eleet suitable accounting policies ond thèn apply them cons16tenty,'
observe the methods and princi￿￿ kn the Chadlb$ SORP..
mak8judg8rrYdnts and aecounling •stimat•8 that 8r• r88sonat4e an¢J Kwuden¢
stato whether appllcable accoundThJ stsndards ha¥0 t*en follo**d, subleGI lo any materfal departur¢s
dis(￿sed a￿1 eXplairt￿ in th8 Ilnan(Jal $tsl¢m¢nts.' 4nd
prepare th8 ffinanci81 statements on thg wlrg cw¢•m ba¥1¥ unbss it is in¥*propriat8 to W8sum8 that It
charity wll in t￿SineSs.
Th8 trus* is responsible for m*ntalnlrg proper accrjjnlty ￿cOrdS ¢JsL*Jse thlth reasonatle ￿rn¢Y a¢
any lime the finan{a￿ po$il*)n ol chthrty and onablt Ihem to ensure Ihat the financwl Statements CL¥￿ ￿*th
th8 Charities A£¢ 2011. Charity (Accounts aNJ Rep￿ts> Raguiations 2￿8 and thg prowsK)r£ of thè
OY￿titut￿jn. Tho trustee Is aL80 w8￿SIbl• hr ￿¢gUardIr@ the 055ets ol tho charity he￿? for tBhirwJ
sonatde steps fort￿ pr8￿110n and fraud and other irrg9ularilw&
The tsustee 1$ rest**)￿ble ts the maInte￿nCe and Inlegilty ol tha charfty and finanL¥al InfLYnth on
the charitys 7rt¢bsite. LegISlati￿ In th• Unhed KJr9dcffl g)¥gnMr¥J Ihe preparatKffi and ol fv18￿￿al
ststements rnay dtrf8r from le9islatth In othgrlurfsdlrjions.
Dlsejosurn of InforniJtion to audltor
Th8 trustee has taken steps that th•y ¢xffjht to h•v• t8k¢n 88 8 trjstgp In (xder to make Ilwselves aware ol any
levant audit Informati￿ and to 8Stabksh th81 the th)rity$ audltor ts awaro of Ihat information. Thè truste•
cortfim￿ Ihat there 1$ rK) rthant informa¢Kffj that Ihey knchv o18nd of %thich they know the auditor is urbawar?.
The ann¢Jal rep(rft was apwov•d by tt)• tru$tt• of Ihts ¢harity on .....
. and signed on its behalf by..
lJi14
JeNs&lem Foundakn'on Trustees Liml
Page 5

The Jerusalem Foundation
Independent Auditorfs Report to the Trustee of The Jerusalem Foundation
Opinion
We have audited the finanaal statements of The Jerusalem Foundation Ithe 'chariWI for the year ended 31
De￿mber 2023, which cotnprise the Statement of Financial Activities. Balance Sheet, Cash Flow Statement. and
Notes to the Financial Statements, induding a sutlltnary of significant accounting policies. The financial reporting
framewoik that has been applied in their pieparation is United Kingdom Accounting Standards, comprising
Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and
applicable law Iunited Kingdom Generally Accepted Accounting Piacticel.
In our opinion the financial statements..
give a true and fair view of the State of the chaiiws aflaiis as at 31 De￿mber 2023 and of its incotning
resources and application of resources. including ils inwme and expenditure. for the ye81 then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,
and
have been prepared in accordan￿ with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of
the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Stand8rd, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We
believe that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion.
Conclu¥ion¥ relating to going ¢on¢ern
In auditing the financial statements, we have conduded that the trustee's use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identrfied any rnateii81 uncertaintie5 relating to 8vent5 or
ndilions that. individually or collectively. may cast significant doubt on the charity's ability to continue as a going
ncein for a peiiod of at least twelve months from when the finan¢i81 statements were aulhorised foi issue.
Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the
relevant sections of this report.
Other infomiation
The trustee 15 responsible for the other infomation. The other inlomation comprises the information included in
the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the
financial statements does not cover the other infomation and, except to the extent otherwise explicitly stated in
our report, we do not express any fom OfassUran￿ condusion 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 rnaleri8lly inconsistent wlh the financial statements or our
knowledge obtained in the audit or otherwise appears to be rnaterially misstated. If we identify such rnaterial
inconsistencies or apparent rnaleri81 misst8temenls, we are required to delerrnine whether there is a Material
misslalement in the financi81 slalements or 8 rnalerial misstatement of the other infonnalion. If. based on the
work we have performed. we conclude that there is 8 rn8leiial missl8lemenl of this other information. we 8ie
required to report that f8Ct.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charity and its environtnent obtained in the course of the
audit, we have not identified rnateiial misstatements in the Trustee's Report.
We have nothing to report in respect of the following matters where the Charities (Accounts and Report)
Regulations 2008 requires us to report to you if, in our opinion..
Page 6

The Jerusalem Foundation
Independent Auditor's Report to the Trustee of The Jerusalem Foundation Icontinuedl
adequate accounting records have not been kept, or retums adequate for our audit have not been received
from branches not visited by us.. or
the finan¢i81 slalernenls ale not in agreement with the accounting records and returns,. or
certain disdosures of trustee remuneration specified by law are not made., or
we have not re￿iVed all the inforrnation and explanations we require for our audit.
Respon8ibilitie8 of the Trustee
As explained more fully in the Statement of Trustee's Responsibilities, the trustee is responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the trustee determines is necessary to enable the preparation of financial statements that are
free from material misstatement, whether due to fraud or error.
In preparing the fin8ncial statement5. the trustee is responsible for assessing the charitls ability to wntinue 88 8
going concern, disc105ing, as applicable. matter5 related to going concern and using the going concern basis of
accounting unless the trustee either Intends to liquidate the charity 01 to cease operab"ons, or has no realisb"c
alternative but to do so.
Audltor Responslbllltles for the audlt of the flnancSal statements
Qur objectives ale to obtain reasonable assurance about whether the finan¢ial statements as 8 whole are free
from materi81 Tnisstaternent, whether due to fraud or etror, and to issue an auditor'5 report that includes our
opinion. Reasonable assurance is 8 high level of assurance. bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a m8teri81 misst8tement when it exists. MIs5tatementS C8n 8rise
from fraud or etror and are considered rnaterial If, Individually or in the aggregate, they could ieasonably be
expected to influence the economic deasions of users taken on the basis of these financial statements.
Irregularities, induding fraud, are instances of nortrcomplianTr 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 irregularrties, including fraud is
detailed below..
Identifying and assessing potential risks of material misststement due to irregularitie5
We considered the following when identifying and assessing risks of material misstatement due to irregularities,
including fraud and non-compliance with laws and regulations..
the legal and regulatory framework in which the Charity operates
the nature of the sector in which the Charity operates
the control environment and controls established to mitigate such risks
the results of our enquiries of managernent about their identification and assessment of risks of irregularities
discussions with the audit engagement team aboLrt where the fraud might occur
the incentives for fraud
Laws and regulations which are considered to be significant indude those relating lo the requirernenls of financial
reporting framework FRS102. the Charities Act 2011 and UK lax legislation. In addition. we consider other laws
8nd regulation which may not directly impact the financial statements but rnay impact on operations.
As a result of these procedures we concluded, in accordance wth International Auditing Standaid5, that 8 risk in
ielation lo the polenli81 for management overiide of controls existed.
Audit responses to risks identified
We undertook audit prO￿dureS to respond lo the risks identified. and designed our audit testing to respond lo
these risks. The additional procedures we undertook induded the following..
gaining an understanding of the procedures for ensuring compliance with laws and regulations
testing the appropriateness of journal entries and other adjustments
onsidering whether accounting estirn8tes were indicative of polenli81 bi8S
considering whether any transactions arose outside the normal course of business
Page 7

The J•ru¥algm Foundaoon
Independent Audltorfs Report to the of The jer￿a10M Foundatlon {continu•d)
maing eTr4uiries of managemert
enquiriNJ 88 to cornpliw￿ *ryth key Chaiities Acl r4LMremerrt8 duFirYJ thè yiicKI
¢orroborating our enquirw throiuh revraw of Bowd Minuies and ¢m$p￿￿.
We also communicated rekvanl law5 and regulatW 8nd potenbaF tra￿ ri$k8 lo ajl engagement team members
and remain8(J alert to any indicatorn of fraud or rtX)-ctsmF4i8nce wilh la￿ and regulatKJrts throLghout the audit.
A fijrthw des¢riptKM ot our re¥w3nsibilTtse5 is avarfabb cffj FInar￿la1 R¢prytwN Coun¢il'$ website at..
.frc.¢xg.utrJaudrtorsTe8ponsl￿lts5. Ths de8cripbNI forrr4 ptyrt ot our audrtofs r•port.
U89 of our r•port
Th5$ report Is made soldy to the charity trustee in accordanc* sec1￿1 144 ot Ihe Charit￿ Act 2011 and
ulations made under sectTh 154 of ihal Ad. Our aurfrt WO￿ has been undertaken so that we mlghl slate to
th& trustee those matters we we requirèd lo stat8 lo trusta8 in an auditors. r•Fth end lor no olhgr purp08e. To
the fullest extent ￿rMitted by law, we do nol W or 8s$umè re8ponsibAty to anyofte other than the charlty
and 18 tru5188 as a bjdy, for our audil *t)rk. for this rem or lor ￿ opinicffis ha￿ fomied.
ACMdeLLP
Chartered Accountsnts & Statthory Audito
S¢afford House
818ckbrook P¥rk Avon
Taunton
SDmersel
TA12PX
25th October 2024
A C Mol¥ LLP is all91b￿ for 8ppolntrMnt 88 audrt￿ ol th& ¢h8nty by vwtu• of Its oligibilty for apwlntm•nt 88
audttoi ol a company und•r 8ection 1212 of lh• Compani88 Act 2￿.
Page 8

The Jerusalem Foundation
ststement of Financial Activities for the Year Ended 31 December 2023
Unrestricted
funds
Rèstricted
funds
Endowment
funds
Total
2023
Note
Income
Donations and legacie5
Other income
44.299
3.390.528
3.434,827
30,907
30,907
Total income
44,299
3,390,528
30,907
3,465,734
Exp•nditurè
Raising funds
Charitable activities
167,2451
155,504
19,8991
4,056,476
15,1841
{82,3281
14,111,980
Tot81 expenditure
Gains on investment assets
1122,7491
14,066,375)
15,1841
274,977
14,194,308)
274,977
Net lexpenditurellincome
Transfers belween funds
178,4501
121.439
1875,8471
1fj9.776
300,700
291,215
1453,5971
Nel movernenl in funds
42,989
1506,0711
9,485
1453,5971
Reconciliation of funds
Total funds brought forward
75,813
2,513,206
2,663,105
5,100,498
Total funds carried forward
15
32,824
2.007,135
2.672,590
4.646,901
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
2022
Note
Income
Donations and legacies
Other incorne
29,388
2,030,255
2,059,641
29,560
29,560
Total income
29,388
2,030,255
29,560
2,089,201
Expenditure
Raising funds
Charitable activities
175,5191
35,604
13,7821
179,3011
1,532,201
1,496,597
Total expenditure
(Losses) on inve5trnent assets
1111,1231
11,496,597)
13,7821
1314,199
11,611,502)
1314,199
Nel incomellexpenditurel
Transfers be￿een funds
181.737)
55,144
533.658
227,429
1288,4211
282,573
163.500
Net movement in funds
126,5931
761,087
1570,9941
163,500
Reconciliation of fund¥
Total fvnds brought forward
49,220
1,752,119
3,234,099
4,936,998
Total funds carried foNard
15
175,8131
2,513,206
2,663,105
5,100,498
The notes on pages 12 to 25 fom part ofthese finanaal statements.
P8ge 9

Tho Joru$al¢m Foundatlon
(Roglstratlon nUm￿r. 258306}
Balance Sheet as at 31 D•c•mber 2023
2023
2022
Fixed assets
Investments
12
2,648,928
2,637,733
Curr•nt assets
C8$h at bank and in hand
2.153,373
2,668.886
Cr•dttoYs: Amounts fallin9 du• within ono
14
155,400
2(h8,121
N•t ¢urr•nt ass•ts
1.997.973
2.462,785
N•t a$$•ts
4,646.901
5.1(KJ.498
Fund$ of thg charlty:
Unrestrlcted lund8
132.824)
(75.8131
Rg$tri¢ted funds
2.007.135
2.513.206
Endowm8nlffiJnd$
2,672,5￿}
2,663,105
Total fund$
15
4 648,901
5,1(K),498
ancial staternents on pages 9 to 2S were approv8d by thg Iwslee, aNI auth￿iSed for issue on
. and signed on bahall by..
Jgrusai8m Foundation Trugttès knmited
Trustee
Th8 WK)tes pages 12 to 25 fom) part of theso flnanod $tstgmgnts.
Page 10

The Jerusalem Foundation
Cash Flow Statement for the Year Ended 31 December 2023
2023
2022
Not*
Cash flows frorn operating activities
Net lexpenditurellincotne
1453,5971
163,500
Adjustments to cash flows from non-cash items
IProfillAoss on disposal of investments
Revaluation of investments
119,2181
255,759
26,287
287,912
12
1728,5741
477,699
Working capitsl adjustments
IDecre8sellincrease IN creditors
14
50,721
200,121
Net cash flows from operating activities
1779,2951
877,820
Cash flows from inve¥ting a¢tivitie¥
Sale of investments
256,000
252,000
Nel Idecreasellincrease in cash 8nd cash equiv8lenls
1523,2951
2,892,328
929,820
Cash and cash equivalents at 1 January
1,762,508
Cash and cash equivalents at 31 December
13
2.169,033
2.692,328
The notes on pages 12 to 25 form part of these finanaal statements.
Page11

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023
1 General information
The foundation is an unincorporated charity with Jerusalem Foundation Trustees Limited as the sole trustee.
The address of the charity is..
20 GIou￿Ster Place
London
W1U8HA
2 Aeeounting polieies
ststement of compliance and basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost
or transaction value unless stated othenvise within these notes. The financial statements have been prepared in
accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 lissued October 20191- (Charities SORP IFRS 10211, the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland IFRS1021, and the Charities Act 2011.
The Jerusalem Foundation meets the definition of a public benefit entity under FRS 102.
Going concern
The Trustee considers that there are no material uncertainties about the charity's ability to continue as a going
concern. The Trustee recognises that the defiat on unrestricted funds needs to be addressed and has arranged a
drawdown from endowment funds in October 2024 to clear the deficit balance. A review of the current
unrestricted funds position is being undertaken by the Trustee to ensure regular drawdowns provide sufficient
unrestricted reseNes to cover ongoing operating costs.
Income and endowments
All income is recognised when the charity has entitlement to the income, it is probable that the income will be
received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be
ieliably measured.
Investment Income
Investment Income 15 accounted for on 8 receivable b851S.
Funds recelved as agent
Where funds are received and the charity is acting in its cap8rily as agent. income is not recognised by the
Foundation as the Charity has no disoretion over the application of the funds received. A liability is recognised for
the the fvnds held as agent lo be distributed in fuluie periods.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure. it is probable
settlement is required and the 8mount can be measured reliably. All costs are allocated lo the applicable
expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly attributed lo
particular headings they have been allocated on a basis consistent with the use of reSoUr￿s.
All resour￿3 expended are indusive of irrecover8ble VAT.
Page 12

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
Raising funds
These are costs incurred in attracting voluntary income and the management of investments.
Charitable activities
haritable expenditure cornpiises those costs incuired by the Charity in the delivery of ils activities and services
for it5 beneficiaiies. It indudes both costs that be allocated directly to such a5 grant5 paid and those costs of
Sn indirect nature nece558ry to 5LJpport them.
Grants
Payment of donations to The Jerusalem Foundation - Amuta in Israel are made once 8pproved by the Trustee
following receipt of an approved proposal report.
Provisions for grants are made when the intention lo make 8 grant has been oommunicaled lo the recipient bul
Iheie is Un￿rtaIntY about either the timing of the grant or the amount of gr8nt payable.
Support costs
Unless otherwise agreed the Foundation levies a management change of between 1.5°/0 & 5.kn of all donations
8nd incorne generated by the endowment funds to fund ils overheads.
Taxation
The charity is a registered charity and is, therefore, exempt from liability to taxation on its income and capital
gains, to the extent that they are applied for charitable purposes.
Fixed asset investments
Listed investments
Listed investments are a fom of basic financial instrument and are initially recognised at their transaction value
and subsequently measured at fair value at the balance sheet date using the closing quoted market price. The
Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals
throughout the period.
Realised gains and losses
All gains and losses 8re taken to the Statement of Financial Activities as they arise. Re81ised g8ins and losses on
investments are calculated as the differen￿ between sales prO￿ed$ and their opening carrying value or their
purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are
calculated as the difference between the fair value al the period end and their carrying value. Realised and
unrealised investment gains and losses are combined IN the Slalement of Finanoial Activities.
Cash and cash equivalents
Cash and cash equivalents cornprise cash on hand and call deposits, and other short-terrn highly liquid
investments that are readily convertible to a known amount of cash and are subject lo an insignificant risk of
change in v8lue.
For•ign exchang•
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary
assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of
exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their
balance sheets at the rates ruling al the balan￿ sheet date. Exchange differences arising on translation of the
opening nel 85sels and results of overseas operations are reported in the statement of financial activities.
Fund structurè
Unrestricted income funds are general funds that are available for use at the trustee discretion in furtherance of
the objectives of the charity.
Page 13

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
Restricted incorne funds are those donated for use in a particular area or for specific purposes, the use of which
is restricted to that area or purpose.
The charty has expendable endowment funds where the capit81 can be drawn down 81 the Trustee's di￿retion.
Flnanelal Instruments
The charity only enters into basic finanaal instruments that result in the recognition of finanaal assets and
liabilities such as trade and other debtors and creditors together with loans to related parties.
Debt instruments, such as trade debtors and creditors, are initially measured at transaction price and
subsequently measured at amortised cost.
Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If
objective evidence of impairrnent is found, an impaiment loss is recognised in the staternent of financial
activities.
Critical Accounting Estimates and Judgement8
The preparation of the financial statements in conformity wth FRS 102 requires management to make
judgements, estimates and assumptions that affect the application of poliaes and reported amounts of assets
and liabilities, income, and expenses.
Estimates and judgements are continually evaluated and are based on historical experience and other factors,
including expectations of future events that are believed to be reasonable under the circurnstances.
The charity rnakes estimates and assurnptions concerning the future. The resulting accounting estimates wll. by
definition, seldom equal the related actual results. The Trustee considers that there are no critical accounting
estimates and judgerllents have a significant risk of causing a material adjustment to the carrying arnounls of
8ssels and li8bilities wlhin the next financial ye8r.
3 Income from donatlons and legacles
Unrestri¢ted
funds
Re5tri¢ted
fund¥
Endowment
funds
Totsl
funds
Donations
44.299
3,390,528
3.434,827
Total for 2023
44,299
3,390,528
3,434,827
Donations
29.386
2,030.255
2.059,641
Total for 2022
29,386
2,030,255
2,059,641
4 Other income
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
funds
Investment income
30,907
30,907
Total for 2023
30.907
30,907
Investment income
29,560
29,580
Total for 2022
29,560
29,560
Page 14

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
S Expenditure on raising funds
al Costs of generating donations and legacies
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
funds
Staff costs and other sundries
Fundraising
45.129
22,116
5,699
4,200
50,828
26,316
Total for 2023
87,245
9,899
77,144
Stsff costs and other sundries
75,519
75,519
Totsl for 2022
75,519
75,519
bl Investment management CO8t8
Unrestrlcted
funds
Restrlcted
funds
Endowment
funds
Total
funds
Investment management costs
5,184
5,184
Totsl for 2023
5,184
5,184
Investment management costs
3,782
3,782
Totsl for 2022
3,782
3,782
6 Expenditure on charitable activities
un￿tricted
funds
Re¥tricted
funds
Endowment
funds
Total
funds
Notè
Grant fLJnding of
activities
Support costs
7,500
48,004
3,958,937
97,539
3,966,437
145,543
Total for 2023
55,504
4,056,476
4,111,980
Grant funding of
8ctivilies
Support costs
1,605.067
108,470
1.605,067
72,866
35,604
Total for 2022
35,604
1,496,597
1.532,201
Page 15

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
7 Grant expenditure
2023
2022
Akit
Azrieli Jerusalem College of Engineering
Belt Alpert Musical Centre
Belt Arz
Belt Natan
Belt Schusteiman
Bezalel
B'nai Brith World Center
City a5 a school project
Climbing Wall
East Jerusalem special needs educational
East JetUS81em Social woiker5 prograrnrne
Elkyyn Israel
Emergency Fund
Emunah
Encore
Feuerstein
George Pinto Fellowship- training for doctoral students to establish
not-for-profit initiatives which will benefit Jerusalem's residents
Good Neighbours project
H8ssadn8
Hassadna Conservatory Building
Hebrew Uni
Hornat Shmuel
Homeless in Jerusalem (Etnahtal
Hut HaMeshula5h
Israel Free Loan Association Inow Ogenl
Israel Story
Jerusalern Botanic81 G8rdens
Jerusalem Cinematheque
Jerusalem College of Technology
Jerusalern costs
Jerusalem Intercultural Centre- non-political organisation involved in
making the city culturally representative of all residents
Jerusalem Piint Workshop
JMC
Judas Yard
Khan The*re
Kishoret
Leket
M8taN
Max Rayne Hand in Hand School
Meitaritn (R'melchiorl
Merkaz Rachel Centre
Michael Levin Lone Soldierfs Center
Museutn of Islamic Art
Naggar Musrara School of Photography
4,167
950
48,450
4,000
1,773
32,300
39.942
4,167
11,327
8,867
47,500
9,750
82.290
975
215,689
24,773
1,366
4,169
1,713
1,587
303.877
4,750
60,797
180.778
147,676
115,950
4,167
9,500
1,900
16,150
3,800
1,920
15,000
820,192
413,703
3,349
5,019
475
1,175
29,485
18,469
22,604
34,125
15,000
15,044
619
2,988
9,500
6,589
1,425
264
10,925
6,692
2,850
10,0(K)
173,312
181,713
Page 16

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
2023
2022
Nishmat
othei donations less than £1.￿0 each
Pardes
Presidents Fund (Misgav Lakashishl
Presidents Fund (Keren Lil
Science Lab
Seculai Yeshiva
Shalva
Shared living fund various projects addressing coexistence issues
amongst Jerusalem's different communities
Shared living Hub- Home of the Tolerance Coalition
Shirat Halev
Signs in Jewish Quarter
Educating towards a Shared City
Sports Basket
steins8ltz
Talking Peace
Tsad Kedema
UK Jewish Film
Ukraine Refugees
Vertigo Dance
Wohl Archaeological Museum
Wohl Rose Park
Wornan'5 Counseling Centre
Yad Sarah
835
2,713
8,365
8,238
19,950
7,125
4,750
7,515
49,999
56,164
186,614
30,139
27,725
25,755
48.750
23,750
7,021
1,970
50,210
2,000
4,432
63,926
2,510
9,850
8,769
1,691,OOS
8,235
1,970
8,365
3,940
3.￿6,437
1.605,067
Unrestricted
Restrided
7,500
3.958,937
1.605,067
3,966,437
1,805,067
8 AnalyBi8 of Bupport costs
2023
2022
Audit & Accounts
Payroll
Prisrn 8dminislration fee
Subscriptions
Foreign exchange movement- unrestricted
Foreign exchange movement- restricted
15,945
348
34,800
1,175
14,2641
97,539
10,380
34,800
19,5551
108,471
145.543
172,8661
9 Staff costs
There is one employee. 12022.. 11
The UK National Director is considered to be the key management personnel. Key management personnel
remuneration totalled £33,00012022'. £33,000).
Page 17

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
10 Auditorfs remuneration
2023
2022
Accounts
3,870
4,515
7,200
360
3,600
4,200
Audit
Other
Audrfc predecessor firm
2,560
15,945
10,360
11 Taxation
The charity is a registered charity and is therefore exempt from taxation on its income and gains, to the extent
that they are applied for charitable purposes.
12 Fixed asset investments
Listed investments
2023
Totsl
2022
Totsl
Valuation
At 1 January 2023
Disposals
Rev8lu8lion
2.614,291
1236,7821
255,759
3.180.490
1278,2871
287,912
2,633,268
2,614,291
ash held in investment portfolio
15,660
23,442
Nèt book valuè
At 31 December 2023
2,648,928
2,637,733
There were no investment assets outside the UK.
All fixed asset investments held are listed and are slated at fair value.
Verilas Investment Partners IUKI Ltd, currently manage The Jerusalem Found8lion'5 endowrnent funds.
13 Cash and cash •quival•nts
2023
2022
Cash at bank
Cash held in investment portft)lio
2.153,373
15.660
2,$68,88e
23,442
2,169,033
2,892,328
Page 18

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
14 Creditors: amounts falling due within one year
2023
2022
Acctuals
Grants P8yable
Funds held as agent
25,095
125,811
4,494
7,800
198,321
155,400
206,121
Funds received as agent
During the year the £198,321 of agent funds held at 31 st December 2022 were paid over in donations.
In addition, a further £40,920 of funds after admin fees were received as agent on behalf of Jerusalem
Foundation Israel. During the year. £38.426 of these funds were paid over in donations, leaving a balance held
as agent at 31 December 2023 of£4,494.
2023
2022
Funds held as agent at 1 st January
Funds received as agent
Funds paid out as agent
Foreign exchange translation
198,321
40,920
1230,4271
4,320
379,500
1194,8871
13,708
Funds held as agent at 31 December
4,494
198.321
Page 19

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The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
Khan Thèatr• Endowmènt Fund
The fund is held by the Trustee of the Foundation with the primary object of furthering the charitable purposes of
the Khan Theatre. the principal intention being that the income derived from investments of the funLI be applied
on an annual basis with the capital being accumulated as an endowment.
During the ye8r. £15.000 of accumulated income and capital was tr8nsferred to restricted funds.
The Teddy Kollek General Malntenance Fund
The Teddy Kollek General Maintenance Fund comprises the Tnerger of the two previously held fund5 on the 24
August 1998. The first of these funds, known as the Gener81 Maintenance Fund. wa5 originally established in
mmernor81ion of the 70th birthday of the late Mr Teddy Kollek. the former Mayor of Jerusalem. as 8 general
endowrnent fund for the promotion of the chaiitable activitie5 of the Foundation. The second of the funds, known
a5 the Teddy Kollek Fund, was established in honoLJr of the late Mr Teddy Kollek with a view to the Support of
charitable activrties piomoting welfaie, educational and arts-related projects in, and in the preservation of the
heritage of Jerusalem.
In view of the commonality of the objectives of the Iwo funds, for administrative convenience, it was decided to
merge these Iwo funds into a single fund in order to pursue the combined objectives set out above. The income
and where considered appropriate the capital is to be applied by the Trustee at its discretion of the furtherance of
the objedives set out above.
During the year £121,439 was transferred to unrestricted funds.
The Della and Fred S Worm¥ Endowrnent Fund
The fund was created in 2012. The Trustee of the Foundation holds the fund and will respond to suggestions
made by Della Worms for appropriate benefiaaries in Jerusalem. The income and where considered appropriate
the capital is to be applied by the Trustee at its discretion of the furtherance of the charities objectives. During the
year £154,776 was transferred to restricted funds in anticipation of future grants.
Page 22

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
16 Analysis of net assets between funds
Total funds at
31 December
2023
Unrestricted
funds
R8strict8d
funds
Endowment
funds
Fixed asset investments
Current assets
Current liabilities
2,648,928
25.371
1,709
2,$48,928
2.153,373
155,400
120.867
153,691
2,007,135
Total net a55ets
132,8241
2,007,135
2.672,590
4.646,901
Total funds at
31 December
2022
Unrestricted
funds
Restricted
funds
Endowment
funds
Fixed asset investments
Cuirent assets
2,637,733
25,372
2,637,733
2,668,886
1206,121
130,308
206,121
2,513,206
Total net assels
175,8131
2,513,206
2,663,105
5,100,498
17 Directors of the corporate Trustee
The Directors of Jerusalem Foundation Trustees Limited during the year were as follows..
Dame Vivien Duffield DBE
Lord Leigh of Hurley
Mrs Carolyn Mishon
Mr Guy Naggar
Mr Martin Paisner CBE
Mr Michael Rosenfeld
Mrs Joanne Tumer
Mr Jack Livingstone OBE (Resigned 20109120231
Mr Shai Doron (Resigned 29107120241
Page 23

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
18 Related party transactions
During the year the charity made the following related party transactions..
The Maurice and Vivienne Wohl Philanthropic Foundation
Martin Paisner. a director of the corporate trustee Jerusalem Foundation Trustees Lirnited, is also 8 trustee of the
Maurice and Vivienne Wohl Philanthropic Foundation. During the year the mauri￿ and Vivienne Wohl
Philanthropic Found8tion made restricted donations totslling £432.3fj5 12022 - £801.9121 to The Jerusaletn
Foundation. At the balance Sheet date the amount due tolfiotn The Maurice and Vivienne Wohl Philanthiopic
Foundation was £Nil12022- £Nill.
The Maurice Wohl Charitable Foundation
Martin Paisner, a director of the corporate trustee Jerusalem Foundation Trustees Limited, is also a trustee of the
mauri￿ Wohl Charitable Foundation. During the year the mauri￿ Wohl Charitable Foundation made restricted
donations totalling £432,365 12022 £422.4121 to The Jerusalem Foundation. At the balance sheet date the
amount due tolfrom The mauri￿ Wohl Charitable Foundation was £Nil12022- £Nill.
The Marcus Margulies Charitable Trust
Martin Paisner. a director of the corporate Iruslee Jerusalem Foundation Trustees Lirnited, is also 8 Iruslee of the
Marcus M8igulies Charitable Trust. During the year the Marcus Margulies Charitable Trust made restricted
donations tot811ing £1.167.415 to The Jeiu58lem Foundation12022- £382,932).
At the balance sheet d8te the amount due tolfrorn The Marcus Maigulies Charitable Trust was £Nil12022- £Nill.
Guy Anthony Naggar
Guy Naggar, a director of the corporate trustee Jerusalem Foundation Trustees Limited, has made donations to
The Jerusalem Foundation totalling £90,20012022- £184,483).
At the balan￿ sheet date the amount due tolfrom Guy Anthony Naggar was £Nil12022- £Nill.
The Rosenfeld CharStable Trust
Michael Rosenfeld. a director of the corporate Irvslee Jerusalem Foundation Trustees Limited. is also a Iruslee of
the Rosenfeld Ch8rit8ble Trust. During the year the Rosenfeld Ch81it8ble Trust made reslricled donations
lolalling £Nil12022- £50.0001 to The Jerusalern Foundation.
At the balance sheet date the amount due lolfrorn The Rosenfeld Charitable Trust was £Nil12022- £Nill.
Phillips and Rubens Charitable Trust
Martin Paisner, a director of the corporate trustee Jerusalem Foundation Trustees Limited, is also a trustee of the
Phillips and Rubens Charitable Trust. During the year the Phillips and Rubens Charitable Trust made restricted
donations totalling £Nil to The Jerusalem Foundation12022- £17,550). At the balance sheet date the amount due
tollrom Phillips and Rubens Charitable Trust was £Nil12022- £Nill.
The Jaek Livingstone Charitable Trust
Jack Livingstone was previously a director of the corporate Iruslee Jerusalem Foundation Trustees Limited. His
wife is a trustee of the Jack Livingslone Gharitable Trust. who made donations to The Jerusalem Foundation
1018lling £50.000 12022 - £100,000). Al the balan￿ sheet date the arnount due lolfrom The Jack Livingslone
Charitable Trust was £Nil12022- £Nill.
Lord Leigh of Hurley
Lord Leigh of Hurley, a director of the corporate trustee Jerusalem Foundation Trustees Limited, made donations
to The Jerusalem Foundation totalling £11,30012022- £Nill.
At the balance sheet date the amount due tolfrom Lord Leigh of Hurley was £Nil12022- £Nill.
Martin Paisner
Martin Paisner. a director of the corporate Iruslee Jerusalem Foundation Trustees Limited, made donations to
The Jerusalem Foundation totalling £500 {2022 £Nill. At the balance sheet date the amount due tolfrom Martin
Paisner was £Nil {2022- £Nill.
Morris Leigh Foundation
Martin Paisner and Lord Leigh of Hudey, diredors of the corporate trustee Jerusalem Foundation Trustees
Limited, are also trustees ol the Morris Leigh Foundation. During the year the Morris Leigh Foundation made
ie5tiicted donations totalling £50,000 12022 - £NILI to The Jerusalem Foundation. At the balance sheet date the
amount due tofftom Morris Leigh Foundation was £Nil12022- £Nill.
Joann8 Turner
Joanne Turner, a director of the corporate trustee Jerusalem Foundation Trustees Limited. made donations to
The Jerusalem Foundation totalling £24312022.. £Nill. At the balance sheet date the amount due tolfrom Joanne
Tumer was £Nil12022- £Nill.
Page 24

The Jerusalem Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 Icontinuedl
19 Post balance sheet events
As at 31 December 2023 the unrestricted funds stood at a defiat of £32,82412022'. deficit of £75,813). In October
2024 the board approved a draw down from the Kollek expendable endowment fund of £40,000 to clear the
deficit position. A review of the current 2024 position is also being undertaken by the trustees in order to ensure a
deficit position does not arise as at 31 December 2024.
Page 25