2025-12-31-accounts

international alert Annual report and accounts 2025

~~Contents~~

~~Contents~~
Foreword	1
~~Annual report~~	~~2~~
About us	3
Our annual report and accounts	3
Locations	4
Our year in numbers	6
Our work in 2025	7
Goal 1:Building peace	7
Goal 2:Transforming our peacebuilding partnerships	11
Goal 3:Integrating peace	14
Goal 4:Making connections to advocate for global change	18
Goal 5:An international, equitable, inclusive, sustainable and
effective organisation: progress against our organisational priorities	20
Organisational details	23
Strategic report	24
Financial review	25
Acknowledgements	29
Donors	29
Partners	30
~~Accounts~~	~~33~~
Independent auditor’s report to International Alert	34
Financial statements	38
Notes to the fnancial statements	40

~~Foreword~~

International Alert’s last annual report was published amid sharply rising levels of violent conflict and growing turmoil in the international aid system. Over the past year, these trends have only intensified.

As we approach Alert’s 40th anniversary in 2026, we remember the words of Archbishop Desmond Tutu, one of our founders and, until his death in 2021, our organisation’s patron: “There comes a point where we need to stop just pulling people out of the river. We need to go upstream and find out why they’re falling in.”

As a flood of violence threatens the world, these words are even more poignant. It is vital that they are heard and acted upon.

International Alert’s core conviction is that peace is possible. This report shows why that matters.

Amid fragile situations around the world peacebuilders are working to prevent or end violence, so that people can build lives of dignity and purpose for themselves and their communities. We are privileged at International Alert to work with and support many of them. We dedicate this report to peacebuilders everywhere, working with courage and commitment across what can seem like widening divides.

While International Alert’s mission and core beliefs are unchanged, we must as an organisation continue to adapt to the world in which we work. This has meant further evolution in our programmes and priorities, including plans to withdraw from a small number of our current operating contexts during 2026, while strengthening our work in others. By making the changes necessary, we are making sure we remain robust and sustainable as an organisation both now and for the future. Meanwhile, we are deepening our collaborations with others in a common cause, and building new relationships to support our mission.

We are deeply grateful to all who support Alert and, through that, the work of thousands of peacebuilders around the world. We hope you enjoy reading this report.

David Nussbaum Chair

Nic Hailey Executive Director

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Annual report

~~About us~~

Our vision is a world where conflicts can be resolved without violence and people work together to support and sustain peace.

Our purpose is to support a sustainable and inclusive end to violence.

To fulfil this purpose, we:

• work with people directly affected by violence to support lasting solutions;

• advocate with them for the changes to policies, practices and behaviours that are required for peace to be inclusive and sustainable; and

• collaborate openly and in solidarity with all those striving for peace to strengthen our common cause.

We base all our work on a deep understanding of the root causes of violence in each context, developed through long-term engagement. Our work draws on what we and others have learned from decades of peacebuilding efforts.

We value progress, fairness, respect, inclusion and openness.

Annual report and accounts

The trustees present their report and audited financial statements for the year ended 31 December 2025. Legal and administrative information set out on page 23 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice – Accounting and Reporting by Charities (SORP 2019).

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Locations

Where we worked in 2025.

----- Start of picture text -----
UK Netherlands
Ukraine
Uzbekistan
Georgia
Kyrgyzstan
Armenia Azerbaijan
Tajikistan
Tunisia Lebanon Syria
Morocco
Pakistan Nepal
Myanmar
Mauritania
Mali Chad
Niger
Yemen
Burkina Faso
Nigeria
South Sudan Ethiopia
Somalia
Uganda Kenya
DRC Rwanda
Burundi
Country offices - Burundi, DRC, Kenya,
Kyrgyzstan (closed during 2025),
Lebanon, Mali, Myanmar, Nepal,
Mozambique
Netherlands, Niger, Nigeria, Rwanda,
Tajikistan (closed during 2025), Tunisia,
UK, Ukraine.
Working remotely through partnerships
- Armenia, Azerbaijan, Burkina Faso,
Chad, Ethiopia, Georgia, Syria, Uganda,
Uzbekistan.
----- End of picture text -----

Short-term presence - Mauritania, Morocco, Mozambique, Pakistan, Somalia, South Sudan, Yemen.

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In 2025, International Alert implemented 55 projects across 32 countries and territories with offices in 16 countries, working through partnerships in a further nine countries and delivering research and training in a further seven countries.

Asia

In Myanmar, our projects monitored conflict incidents and local responses, and supported the creation and consolidation of locally led protection and response mechanisms. In Nepal, we supported transitional justice processes, promoted the right to information, strengthened the role of journalists in promoting free speech, and facilitated better community relationships with police and local government. In both countries, we provided conflict sensitivity support to various stakeholders.

for peace through conflict-sensitive coverage, cross-border dialogue and intergenerational engagement. Across the region, we conducted research on gendered disinformation to better understand and address its impact.

Horn of Africa

With an office in Kenya, and partners across Kenya, Uganda and Ethiopia, our Horn of Africa team led projects that build peace through water management, climate action, gender equality, and business and human rights.

Central Asia

With offices in Kyrgyzstan and Tajikistan, and working through partners in Uzbekistan, our team delivered projects that prevented violence against women and girls, supported equitable management of natural resources such as water to reduce conflict escalation, and prevented violent extremism. We closed our programmes in Central Asia during 2025.

Middle East and North Africa (MENA)

In Lebanon and Tunisia, our MENA team worked to strengthen the capacities of women’s networks and civil society organisations (CSO), reduce gender-based violence, improve social cohesion methods in education settings, strengthen youth inclusion in communities, and embed conflict sensitivity in partners’ activities.

Nigeria

Democratic Republic of Congo (DRC)

Our team in DRC worked to build social cohesion, reduce conflict and improve security around mining sites. We created spaces for understanding and joint action across the region around common interests such as trade and access to justice. We promoted the rights and inclusion of indigenous peoples in conflict resolution processes. We provided conflict-sensitivity training and capacitybuilding support to other peace, humanitarian and development actors.

Alert worked to address climate-related conflicts, supported access to justice and accountability processes, and worked with police forces to improve community security.

Rwanda and Burundi

Our team delivered projects that build social cohesion and sustainable trade across borders, supported the reconciliation process in Rwanda, strengthened access to justice, and supported women and youth peacebuilders.

Europe

Our Europe team worked in Ukraine to strengthen conflict-sensitive approaches across humanitarian, recovery and reconstruction efforts, while advancing social cohesion. In the South Caucasus, we partnered with media and civil society actors to promote societal readiness

Sahel

In Mali and Niger, our team addressed the root causes of conflict through interventions on natural resource management and climate change, and through targeted support to communities and state representatives to tackle the drivers of violent extremism.

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Our year in numbers

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Organisational
We worked in We implemented
32 55
countries projects
We worked with We trained More
more than more than than
160 600 29%
partner organisations of expenditure
organisations in conflict sensitivity went to partners
----- End of picture text -----

Project highlights

In DRC, 33 community groups established by Alert to manage conflict resolved 167 conflicts.

In Lebanon, 32 civil society organisations supported by us reached more than 50,000 people affected by conflict as part of an emergency response. Of 1,600 people who were involved in community initiatives, 95.5% reported improved relationships between different social groups following these initiatives.

In Armenia and Azerbaijan, a team of local journalists, editors, photographers, videographers and experts produced 150 conflict-sensitive stories, which reached at least two million people on social media with more than 200,000 engagements.

In Nigeria, we supported eight local government councils to set up community-police accountability mechanisms in a process that engaged more than 35,000 people.

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~~Our work in 2025~~

Goal 1: Building peace

The year 2025 brought growing instability to the world and new challenges for our work globally and in specific countries. We have had to adapt to new and changing conflicts (including the M23 occupation of eastern DRC and the conflict in Lebanon) and to donors’ funding cuts. In this ever more challenging context, Alert has remained impactful, relevant and robust, able to continue our work with communities affected by conflict.

The escalation of conflict around the world continues, with limited ceasefire ‘deals’ doing little to reverse the trend. This only emphasises the need for our long-term work addressing the root causes of violence, with approaches that come from deep partnerships and contextual understanding. We work with all those affected by, and involved in, conflicts; we ensure that we are engaging youth, women and marginalised groups within communities, as well as working with civil society and media, local and national government, and security actors. Engaging everyone in building peace ensures that peace is more sustainable.

Our dialogue approach creates inclusive platforms for diverse groups to jointly identify shared challenges and agree on locally owned solutions for peaceful coexistence. For example, in central and southern Mali, we conducted dialogue forums between communities and defence and security forces that help to break down barriers of mistrust and foster constructive communication. These have led to concrete actions, such as plans to establish community focal points composed of trusted representatives from local communities, including youth leaders and civil society actors, to serve as intermediaries with defence and security forces. These focal points aim to improve the regular exchange of information on local security concerns, population movements, and potential risks, while also helping to raise awareness of rights and responsibilities and to prevent abuses through early communication and feedback mechanisms.

We bring together communities and security actors to negotiate disarmament measures. In Nigeria, we convened a regional consultation on the National Disarmament, Demobilization and Reintegration (DDR) Framework, bringing together a broad coalition to forge connections between government actors, security agencies, traditional authorities, civil society, women, youth, and development partners to agree practical ways to deliver this together.

These approaches work. In Kenya’s North Rift region, during a multistakeholder meeting, it was agreed that our project team and partner, the Catholic Justice and Peace Department (CJPD), would lead community engagement for the state-led disarmament exercise. This built on the recognition that CJPD is seen as a trusted intermediary for local communities. Rates of weapon surrender were significantly higher in areas where they held community dialogues on the government amnesty for voluntary firearm surrender. Conversely, in areas where disarmament was tried with force and intimidation, there was little progress and increased community resentment. Through our dialogue processes, communities came to understand the value of surrendering firearms, which set the stage for reconciliation with their neighbours.

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Dialogue can also be a means of connecting peacebuilding initiatives at different levels. In the KenyaEthiopia borderlands, fighting over access to water in February 2025 led to the killing of more than 20 fisherfolk. In response to the violence, authorities closed the border. While intended to prevent further escalation, the closure disrupted the livelihoods of local people who depend on cross-border trade. Drawing on longstanding conflict resolution networks, which Alert has supported alongside local actors, a series of engagements culminated in a high-level meeting in June, during which stakeholders agreed to reopen the border and hold a series of dialogues to address underlying tensions. Local peace committees established by Alert’s project cascaded the agreements reached to their communities, ensuring they were well understood by all. These agreements are bearing fruit, including facilitating the peaceful restitution of cattle stolen in raids, thereby preventing violent escalation through revenge attacks.

We run initiatives focusing specifically on young people, to ensure that their voices are heard and to provide them with the skills, confidence and experience to take an active role in building peace. In DRC, Rwanda and Burundi, we continued our efforts to support young people’s engagement in peace; with the region’s worsening conflict, this work has become more important than ever. Together with our partner Pole Institute, we have identified and engaged a diverse range of youth organisations in Rwanda and DRC reflecting different social and political sensitivities. Youth peace ambassadors have strengthened their capacities for peacebuilding, developed a nuanced understanding of the local conflict dynamics, and actively mobilised their peers around peace initiatives. This has led to a significant reduction in tensions and conflict between groups of young people from different communities and across borders, increased participation by young people in community meetings and local conflict management mechanisms, and improved dialogue between young people, local authorities and other members of different communities.

Peace ambassadors gathered for Youth Day celebrations in Ituri, eastern DRC. © International Alert

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Virginie’s story: young people leading peace in DRC

In Ituri, eastern DRC, the challenges of conflict are never far away, but for 27-year-old Virginie, her story is no longer only about violence and instability – it is about courage, pride and change. Virginie became a youth peace ambassador through the Nashiriki project.

“It allowed me to develop my self-confidence, to better understand my rights and duties, and to speak out on issues that are important to me,” she said. “For my family, my participation is a source of pride. And for my community, the project is starting to make a difference.”

Virginie is not alone. Alongside other young leaders, she is facilitating dialogue between local authorities, raising awareness on peaceful coexistence, and showing her peers that there are alternatives to violence. Each activity strengthens trust and chips away at stereotypes that portray young people as troublemakers. Instead, these young people are stepping into their roles as partners, leaders and peacebuilders.

We work extensively with women affected by conflict, supporting their ability to build peace. In Lebanon, we work with women mediators across the country, strengthening their skills, supporting them to work together and within their communities. This includes work mediating within families. This year Alert developed the Transforming Family Dynamics Handbook in Arabic and English and worked alongside women mediators to train community members, providing them with practical tools to resolve domestic and community disputes. Families reported that these tools had improved cooperation at home, resolved conflicts more calmly, and enabled family members to better understand each other’s needs. Our mediators resolved disputes around issues such as inheritance and child custody, facilitated training on active listening and communication, facilitated dialogue initiatives, and ensured that women and girls facing crises received essential psychological and medical assistance.

Women’s networks respond to gender-based violence (GBV) in Myanmar

Alert Myanmar provided a microgrant to local women’s networks, which included providing GBV awareness sessions to village leaders. Through these sessions, the village leaders gained a better understanding of GBV, recognised previously unnoticed forms of violence, and began to take more effective action to prevent and respond to GBV cases.

During awareness activities in one village, a women’s network learned that a 50-year-old man had committed sexual violence against a 19-year-old girl with a disability. The network was able to help the survivor’s family in reporting the case and ensure it was followed up properly, leading to legal action being taken. With their support, the survivor was able to access healthcare and recover physically and mentally. Local authorities now take GBV cases more seriously and have become more systematic in their response.

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Akuru Ekeno is widely known in her community as “Mama Peace”. © International Alert / Dorina Prech

Women peace champions in the Horn of Africa

Women peace champions in the Horn of Africa – supported through Alert’s training and ongoing accompaniment – now regularly intervene to resolve disputes before they turn violent. One woman, now known in her community as “Mama Peace”, describes the transformation in her community: “Peace is now seen like food and milk, essential for daily life.” She says that families now talk of their preference for their daughters to marry men who have not been involved in cattle raids or killings – a sign that peace has become a shared community value, with young people and elders working together to sustain it.

In Nepal, we have worked to reduce violence against women and girls with our partner Forum for Women, Law and Development (FWLD). This led to the establishment of the Policy Advocacy Network Against Violence Against Women and Girls (PANAV), an inclusive national CSO network, representing diverse groups, and advocating for policy reform and systemic change to prevent violence against women and girls in Nepal. The project also achieved systematic improvements to how two municipalities support women survivors of violence, with the potential for these approaches to be replicated elsewhere.

Media is a key tool for peacebuilding across a range of country programmes. In Nepal, Alert is working in partnership with Sancharika Samuha Nepal (SASN) to support women and marginalised groups by training journalists and advocating for the adoption of gender equality and social inclusion (GESI) and safeguarding policies within media houses. These efforts have led to concrete actions to enhance the safety of women journalists, as well as the development of mentorship and support schemes. Journalists who have participated in the training are increasingly applying GESI principles in their work, fostering a deeper understanding of how the issues they report on affect women and minority communities. More broadly, we are also working with the Nepali media sector to promote peace in collaboration with the Federation of Nepali Journalists (FNJ), which represents nearly 9,000 journalists. FNJ has published a pocketbook to address the growing challenges of misinformation and disinformation in the digital era. The book has already demonstrated positive results in enhancing journalists’ ability to identify and verify false information, thereby promoting ethical and fact-based reporting.

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A GESI training session in Karnali, Nepal. © International Alert / Pratistha Thapa

We have worked with civil society media partners in the South Caucasus for many years, supporting them to address misinformation that fuels violence and to increase their peace-related coverage. Over time, this has contributed to a shift in how peace-related developments are interpreted and communicated in both Armenia and Azerbaijan. Although these trends cannot be attributed to any single intervention, the work of Alert and our partners has contributed to the availability and visibility of an alternative, non-confrontational public discourse. For example, the Line of Contact programme (AMAZ TV programmes produced by the Press Clubs) has had over 1.3 million views on YouTube, with at least 50 experts from Armenia and Azerbaijan participating on the programme. Previously, cooperation between media institutions across the divide was extremely limited, so this new commitment represents an important move towards constructive, conflict-sensitive media engagement.

Goal 2: Transforming our peacebuilding partnerships

Alert works with a wide range of international, national and local partners; these partnerships are fundamental to how we build peace. As set out in our 2024-2030 strategy[1] and 2023 partnership position,[2] we aim for partnerships that are equitable, effective, deep and diverse. We see this as ever more urgent in today’s context of shrinking funding and reduced support for local civil society.

To this end, Alert undertook extensive internal work in 2025 to ensure that we have the systems in place to deliver these commitments. We conducted a full review of our partnership tools, updating processes and language to ensure that they support equitable relationships. Alert also contributed to the development of a locally-led peacebuilding self-assessment tool designed by the Dutch Ministry of Foreign Affairs, PeaceNexus, Humanity United and Robert Bosch Stiftung. Alert’s input included leading consultations with peer international peacebuilding organisations, and engaging one of our local partners, Mobaderoon, to join discussions in the Hague. Alert has adapted a version of the tool to be used for our annual partnership reflections.

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Illustration by Victoria Ford

Annual partnership reflections results

The first of Alert’s annual partnership reflection sessions took place in 2025. Nineteen partners from seven countries participated in piloting this tool. We received much positive feedback from our partners. Overall, the main areas praised were also those in which our partners requested that we do more. These areas included:

• participatory project design and budget development;

• tailored capacity building for partners;

• planning activities together and involving partners in project decision-making;

• flexibility in adapting project plans when contexts change;

• open communication and dialogue; and

• mutual learning between Alert and our partners.

We understand from this that our partners feel that Alert’s approach to partnerships is on the right course, and that the policies and procedures we are putting in place are the correct ones. The fact that these areas also showed up as recommendations, however, demonstrates that these are not yet uniformly implemented across our country programmes and projects, and there may be places where we can go further as an organisation. Our partners also raised financial processes that can cause project delays as an area for improvement. This is something that Alert will seek to address.

We will continue our reflection sessions next year and publish the feedback from our partners each year in the annual report.

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Alert is changing how we partner with other organisations. In the South Caucasus, for example, we are focusing not just on supporting our project consortium, but also on the wider network of local civil society across the region, working less hierarchically to accompany partners as they work for peace. In practice, this has involved closer joint planning and adaptive decision-making with partners, particularly in response to recent reductions in donor funding. Alert worked alongside partners to assess how remaining resources could be used most effectively and to collectively communicate emerging needs to other donors. This approach reflects a shift towards more partnerled, flexible and context-responsive programming, in line with our strategy to strengthen locally grounded peacebuilding ecosystems and shared accountability. More broadly, as we have adapted to reductions in funding globally, we have sought to keep the needs of partners, and how we want to work together, at the forefront of discussions and planning.

In DRC, we are transitioning towards a more inclusive and locally led model. We are making changes to how we build partnerships, particularly with regard to joint analysis of contexts, joint project design, increased participation by national partners in governance mechanisms, and shared responsibility for management and accountability to communities, authorities and donors. In our work on mineral governance, we have provided technical assistance to national non-governmental organisations (NGO) – Observatoire Gouvernance et Paix, Justice Plus and Bureau d’Etudes Scientifiques et Techniques – to enable them to play a leading role in coordinating and implementing peacebuilding activities, strengthening their visibility and legitimacy. Flexibility and diversity in how we partner is important for helping us to reach all those affected by conflict. Partnerships with local micro-level organisations, such as Umoja wa Mbuti, have promoted inclusion and reached often marginalised groups such as the Twa (an indigenous group), demonstrating that localisation is also a matter of equity, inclusion and access.

Alert seeks to support and strengthen our partners in ways that they themselves identify. In Rwanda, we gave practical support to an informal platform of cross-border women traders, with whom we had been working, to become the Association of Cross-border Traders of Rwanda (ACTR), a legally registered, independent organisation. In Burundi, with the Association des Commerçants TransFrontaliers (ACTF), we have supported the strengthening of internal management systems and control mechanisms to ensure the organisation is robust and accountable. Across both countries, our support is designed to help these organisations to expand their reach, including covering additional border points, strengthening membership systems and representation, and enhancing their ability to conduct advocacy. This positions them as credible, member-driven actors capable of influencing cross-border trade policies and practices at both national and regional levels.

In Lebanon, our team have worked with local organisations to strengthen their institutional systems and processes, as well as their organisational understanding of conflict sensitivity and how it can be integrated into their humanitarian and development work. These local organisations delivered more impactful community projects: 95.5% of participants reported improved relationships with different social groups following these initiatives, showing how effective peacebuilding can be when delivered by local organisations with the right skills. We support partners to design as well as deliver projects, with long-term benefits: 17 of the 32 organisations with which we have worked now receive direct funding from donors rather than through an intermediary organisation, supporting the sustainability of their local peacebuilding work.

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Supporting local peacebuilding organisations in Lebanon

Local organisation SPHERE, initially a volunteer group working on education, used the coaching and financial training that Alert provided to become a fully registered NGO with professional human resources systems, safeguarding policies, and strategic plans. The organisation’s social stability initiative, funded through Alert’s project, combined theatre, dialogue and interfaith storytelling, and reached hundreds of young people and adults.

SPHERE’s most lasting contribution may, however, be within other organisations: SPHERE now trains other CSOs on compliance, preventing sexual exploitation and abuses, and operational planning. “We became a source, not just a recipient,” one board member commented. This evolution from implementer to institutional actor is a key indicator of the project’s long-term success in fostering sustainable, locally led civil society.

Goal 3: Integrating peace

Extreme poverty, humanitarian need and climate vulnerabilities are increasingly concentrated in conflict-affected contexts, where violence and instability continue to hold back progress and stifle people’s opportunities to build better lives. All actors in such contexts, not just peacebuilders, must think about and respond to conflict if their goals are to be achieved. In 2025, Alert published papers on integrating peace outcomes into humanitarian assistance, development finance and climate adaptation, drawing on our experience of working with others on these issues.[3] Our conflict sensitivity hubs provide context analysis, training and support to humanitarian, development and peace actors working amid complex conflict dynamics.

In Ukraine, we launched the Context Sensitivity Hub. Its resources are increasingly recognised as a platform for ongoing collaboration, rather than one-off technical input. We work with international and local partners to embed context sensitivity and a peacebuilding lens across all stages of programme cycles, so that humanitarian, recovery and reconstruction efforts are responsive to Ukraine’s rapidly evolving dynamics. The hub provides a safe space for Ukrainian civil society to engage in dialogue and plan joint social cohesion initiatives; it also offers practical guidance on local conflict dynamics. Early results indicate increased understanding and uptake of conflict-sensitive approaches among civil society and local authorities, alongside growing demand for continued engagement through the hub.

In DRC, where we have a well-established Conflict Sensitivity Hub, crisis prompted the significant acceleration of our groundbreaking work. We worked with 400 humanitarian, development and peace actors in 2025 and worked closely with the United Nations (UN) Resident Coordinator’s Office to deliver conflict-sensitivity training and analysis for UN agencies working on the humanitarian response. Alert’s Conflict Sensitivity Hub has become an invaluable resource on conflict sensitivity and peacebuilding for the International NGO Forum and other coordination bodies, and we have been invited to provide conflict sensitivity and local peacebuilding support to the UN Peacebuilding Fund.

Working in a conflict-sensitive manner, Alert closely monitors the contexts in which we operate and continuously adapts our interventions to evolving dynamics. At the beginning of 2025, the escalation of the crisis in eastern DRC, combined with the continued closure of the borders with Rwanda and Burundi, significantly disrupted cross-border livelihoods. Women cross-border traders, with whom Alert has worked for many years, faced sharp income losses, increased uncertainty, and heightened

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Alert supports networks of women cross-border traders in the Great Lakes region. © International Alert / Charles Bongwa.

exposure to regional tensions. These dynamics were accompanied by a rise in hate speech at the political level and across social media, further deepening mistrust between communities.

In response, Alert facilitated hundreds of community dialogue spaces, including tribunes d’expression populaire (people’s forums), which enabled women to voice their grievances directly – even across borders – and in the presence of authorities from neighbouring countries. These dialogues, often held alongside savings group meetings, created trusted and structured spaces where women, their husbands and young people could openly discuss the impacts of insecurity, displacement and economic disruption.

Evidence from participants in these dialogues shows that these spaces contributed to concrete changes: a reduction in rumours and hostile narratives circulating at the community level, increased mutual understanding between different groups, and the emergence of collective coping strategies. In contrast to the polarisation observed at national and online levels, communities who were engaged in these dialogues demonstrated sustained interdependence. In several cases, acts of solidarity were also seen during periods of heightened insecurity such as hosting displaced traders, sharing market information, and maintaining cross-border social ties, despite restrictions.

Conflict sensitivity in DRC

Central Kasai in DRC is experiencing complex and evolving tensions between communities. Following a request from UN Development Programme (UNDP), Alert’s Conflict Sensitivity Hub organised a series of training sessions on conflict sensitivity and in-depth conflict analysis for actors involved in alternative dispute resolution mechanisms and UNDP partners.

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In November 2024, a team from a participating NGO, Travail des Droits de l’Homme, began a process of identifying key actors who had been involved in previous conflicts between the Bakua Ndaye of Kasangidi and the Bena Kamboke of Tshishilu in Dibaya. To fully understand the roots of the conflict, separate meetings were organised with each community. Through open and respectful dialogue, participants were able to express their concerns and their desire for peace.

In early March 2025, the two communities first came together around a table, ready to discuss and find peaceful solutions. The discussions helped build bridges between the different parties, facilitating better mutual understanding. Not only were tensions eased, but a joint commitment to build a peaceful future was also signed by the leaders of both communities.

Djibril’s story: building stability through poultry farming in Mali

Before joining Alert’s project, Djibril had no stable source of income. Like many young men in his community, he faced economic hardship and social frustration, factors that can make young people vulnerable to extremist narratives. He dreamed of starting a poultry business but lacked capital, training, and market access. With a small grant, Djibril developed a poultry farming operation. With regular support and guidance from the project team, he quickly became a reliable supplier in his local market and his business has grown. He has since hired one full-time employee, is able to support his household, and says the work gives him direction and dignity:

“This project gave me hope and independence. I no longer have to think about leaving or joining risky networks. I’m building something real.”

Djibril plans to expand his poultry unit, diversify into feed production, and formalise his small enterprise. He also wants to train other young people interested in agriculture as a peacebuilding tool and to recruit more people.

When young people are given the means to succeed, they become agents of change: economically empowered, socially engaged, and resilient to extremist pressures.

Djibril launched his own small business, a poultry farm that transformed his life and his community. © Arc-en-ciel

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Integrating livelihoods initiatives within our peacebuilding work can be an effective strategy for addressing conflict risks. In Mali, our teams have been addressing the economic exclusion of young people, supporting them with technical assistance and seed funding to start businesses that can grow to hire other young people in the community and thus provide economic avenues other than joining armed groups or irregular migration.

Alert works to integrate peace into development financing at a global level. In 2025, we supported the European Investment Bank (EIB) through a Conflict Sensitivity Helpdesk. Alert supported the EIB to identify fragility risks and resilience opportunities informing projects in three contexts, alongside lessons that shaped the EIB’s future thinking on scaling up conflict sensitivity. A project that Alert had previously informed through conflict analysis was approved by the EIB board, including a conflictsensitive project design.

Business and human rights (BHR) in the Horn of Africa

For several years, we have supported constructive engagement between the private sector, government and local communities across the Horn of Africa to build trust and reduce grievances. Although the BHR project ended in March 2025, an external evaluation found strong evidence of lasting impact, including:

• Reduced rights violations: Multi-stakeholder dialogues, sustained over the life of the project, contributed to a significant reduction in reported rights violations. By creating consistent platforms for collective action, communities and companies addressed issues iteratively rather than allowing grievances to accumulate and potentially escalate.

• Influence on key policy processes: The project influenced several policy milestones, including the development of a National Action Plan on BHR in Ethiopia and the implementation of such plans in Kenya and Uganda, as well as amendments to mining legislation in Kenya and the inclusion of civil society voices in decision-making structures.

• Institutional uptake by companies: Companies that engaged with the project demonstrated increased awareness and willingness to engage on human rights issues. Some established internal BHR desks or formed community-led committees to address emerging community concerns linked to business operations.

• Improved trust and accountability: In areas where dialogue mechanisms were sustained, communities reported greater access to information, improved complaint handling, and increased responsiveness from companies. The multi-stakeholder engagements helped bridge the mistrust and promote a mutual understanding of human rights concerns associated with investments.

• Strengthened community agency: Through rights education and sensitisation facilitated by CSOs and project partners, communities became more informed and confident in asserting their rights. They began questioning procedures, demanding explanations, and requesting translators before signing agreements. This demonstrates a lasting shift in the power dynamics between communities and investors.

• Reduced tensions and strengthened collaboration: Multi-stakeholder dialogue platforms and conflict-sensitive advocacy strategies played a vital role in rebuilding trust and fostering collaboration among companies, communities and CSOs. Tensions reduced significantly in project areas, with stakeholders reporting more constructive relationships with communities.

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We work to integrate climate action and natural resource governance into our work on peacebuilding, since these can be major drivers of community conflicts. For example, in Mali, 300 representatives from local communities – from the fishing, agriculture and livestock sectors – co-constructed a new mechanism for regulating land conflicts. This system, designed to address issues relating to access to agricultural land, fishing zones and water resources, enables various stakeholders to manage tensions in a sustainable manner. This mechanism has already prevented recurring clashes between farmers and herders by establishing universally recognised rules for resource sharing.

We have used a similar approach in Nigeria. In Benue state, we brought together fishing and farming communities who had regularly fought over the forest, river and land that each relied on for their livelihood. A process of trust-building and dialogue between them led to the agreement of a peace charter that set out how these resources would be shared and used sustainably. This, in turn, unlocked a series of economic projects, such as fish-farming and sustainable charcoal manufacture, which communities now jointly undertake with our support – a peace dividend that benefits both sides. Work with the state authorities has seen this formalised through a new cooperative agreement, while donors have mobilised climate finance to support the new initiatives.

Goal 4: Making connections to advocate for global change

As an international NGO, our advocacy happens at various levels. From discussing natural resource governance and conflict transformation at the Paris Peace Forum to supporting community members to advocate at a village level, we have the flexibility and networks to engage different actors in making the case for policies and practices that support peace. We seek to bridge the divides between local and global decision-making, bringing local voices to global forums.

Much of our in-country work seeks to influence and inform the work of national and local governments. In Nigeria, Alert provided learning opportunities and other technical and strategic support to the Zamfara State Ministry of Justice and House of Assembly, which led to the passing of a bill that significantly expands alternative dispute resolution mechanisms. This will reduce the burden on conventional courts, thereby improving access to justice for citizens and reducing the risk that unresolved disputes escalate into violence.

Participants exchanging ideas at a policy and peer learning event in Nigeria. © Bolington Media

International Alert | Annual report and accounts 2025 | Annual report | 18

In Rwanda, Alert continued to support the Ministry of National Unity and Civic Engagement in strengthening the coordination of actors working on peacebuilding, healing, reintegration and social cohesion. We helped to develop a centralised platform and database to improve the tracking of such initiatives, reducing duplication and supporting a more balanced geographical distribution of interventions. In Burundi, Alert’s engagement with the Ministry of Commerce, formalised through a memorandum of understanding, focused on identifying gaps in the implementation of regional and cross-border trade mechanisms.

With our partners Pole Institute and IPeace, we work regionally and with non-governmental bodies. Our teams have been working with lawyers from the Great Lakes region, which led to the presidents of the bar associations of Rwanda, DRC and Burundi formally deciding to share learning and best practice via a joint ‘Access to Justice for Border Users’ platform. This platform enables ongoing relationship-building and exchange between technical actors, despite regional conflict.

Influencing the peacekeeping mandate in DRC

In 2024, the world’s longest running peacekeeping mission – the UN Organisation Stabilisation Mission to the Democratic Republic of Congo (MONUSCO) – officially withdrew from South Kivu province in the latest phase of its ongoing drawdown. To inform international NGO and government programming, Alert worked with an expert team of researchers to monitor protection and conflict dynamics in the areas where the mission had withdrawn.

Over a nine-month tracking period, the analysis demonstrated the importance of embedding local technical capacities within local government services early on, because institutional capacities take years to develop and sustain. It is critical that local humanitarian, development and peace actors are brought into transition planning from the start so that they can support the government to continue delivering these essential services.

The wider conflict context deteriorated severely in 2025, but thanks to advocacy carried out by the DRC Conflict Sensitivity Hub, our research has been influential in setting the direction for the next set of provinces where drawdown planning is underway. This was reflected in the 2026 MONUSCO mandate, which dedicates several paragraphs to inclusive drawdown planning. Alert and our partners are keen to continue supporting the DRC government during this transition and maximising opportunities to build on positive and sustainable peace capacities as part of, and adjacent to, MONUSCO’s work.

We support country teams and partners to access and influence international forums. Our Horn of Africa team, for example, shared insights from their work at the Potsdam Africa Dialogue Series in a high-level Civil Society Roundtable leading up to the 2nd Africa Climate Summit (ACS 2025) and at the Business Fights Poverty Community Forum. In addition, Alert participated in closed-door conversations on critical minerals, which supported the UK Critical Minerals Strategy. We provided lessons from community-level programming with companies in Kenya to inform new UN guidance to investors on community engagement.

Alert works to integrate peacebuilding into climate finance at an international level. We worked with the Green Climate Fund, including developing a messaging framework for the Coalition on Climate Action in fragile and conflict-affected states (FCAS), chaired by the UN Refugee Agency (UNHCR) and the Green Climate Fund. The framework identified key arguments used against greater climate investment in FCAS and evidence-based ways to counter these arguments.

International Alert | Annual report and accounts 2025 | Annual report | 19

Working with donor governments and parliamentarians to make the case for peacebuilding and conflict prevention remains a key component of Alert’s advocacy work. For example, as the UK considered its aid priorities amid further cuts, Alert’s Executive Director gave evidence to the UK Parliament’s International Development Committee and briefed new members of parliament.

Goal 5: An international, equitable, inclusive, sustainable and effective organisation

Alert continued to strengthen the organisation’s operating framework, policies and systems. We responded to conflict and crises affecting our staff and programmes; invested in staff learning and wellbeing; and took the necessary decisions to remain resilient and sustainable amid donor funding cuts (notably from the United States (US) government).

Stronger operating framework, policies and systems

Following significant restructuring of our global and country teams in 2024 – to implement a new operating model flowing from our 2024-30 strategy, 2025 was a year of consolidation and harmonisation across Alert. We achieved greater efficiency and cooperation among our global teams, while strengthening our ability to work on cross-border and regional conflict dynamics in our country teams.

We continued the full-scale review of our operational policies, begun in 2024, to ensure all are aligned with our strategy and the new operating model, and to reflect developments in best practice and the legal and regulatory environment. We completed the full review of our human resources policies and agreed updated policies on safeguarding, data protection, risk management, IT and reserves. We advanced the review of our comprehensive Global Finance Manual, with this being completed in Q1 2026.

We rolled out our updated Procurement Policy, providing training to all staff to ensure we continue to access value for money across our work. We delivered comprehensive cybersecurity awareness training programmes in our country offices, enhancing their understanding of potential threats and mitigations. We completed the development and dissemination of a new compliance toolkit to support managers and staff at all levels of Alert in managing compliance risks and requirements in a cohesive and structured way, and rolled out refreshed induction procedures.

Responding to conflict and crises affecting our staff and programmes

In late January 2025, we were notified of the US administration’s freeze on all funding, affecting 24% of our budgeted 2025 income. These projects were then formally terminated some months later, bringing a sudden and damaging end to years of impactful and transformative work. We worked hard to minimise the impacts on the communities we serve, on local partners, and on our own organisation by carefully managing our cashflow, concerted (and ultimately successful) efforts to recoup funds owed for activities delivered, restructuring impacted teams, reprioritising our overall budget, and close engagement with other key donors. We were grateful to be supported by one of our long-term core funders, Sida, who awarded us additional unrestricted funds to weather this challenging time. These actions ensured that Alert remained robust throughout the year and enabled some further planned restructuring of our programme portfolio in 2026 to reflect the changed donor environment.

International Alert | Annual report and accounts 2025 | Annual report | 20

Illustration by Victoria Ford

Also in January, the M23 rebel group in DRC occupied Goma and then Bukavu, significant bases for Alert’s staff and programming in the Great Lakes region. In Lebanon and Myanmar, active conflict throughout the year presented risks to our programming and to the safety and wellbeing of our staff and partners. We responded by working closely with our partners, external advisors, donors and the UN to adjust our operations in eastern DRC (including to ensure compliance with the sanctions regime under M23 occupation) as well as in Lebanon and Myanmar; strengthening our security plans; and mobilising our crisis management arrangements to provide financial, wellbeing and other support to staff.

Investing in staff learning and wellbeing

We invested in learning and exchange between staff and with our partners throughout the year, including through communities of practice on key peacebuilding themes, twice-yearly reflection sessions on our impact and learning in each programming team, and a new programme of crossorganisational learning (piloting a range of approaches) that will continue in 2026.

We developed a new Learning and Development Policy, applicable to all staff and accompanied by a guide to support people to meet their learning and development needs. We invested in our Learning Management System to ensure this functions as a full learning system for our staff. We trained our communications teams to equip them to run a wide range of training sessions for all staff on topics from key messaging to social media.

With conflict and the challenging funding situation affecting the wellbeing of many of our staff, we launched a new Wellbeing Policy and delivered wellbeing training for all staff. The policy outlines

International Alert | Annual report and accounts 2025 | Annual report | 21

Alert’s commitment to supporting employees and preserving their wellbeing in the workplace, and seeks to create a workplace culture that promotes and supports the health and wellbeing of everyone.

During the year, all staff completed mandatory safeguarding training and signed a revised and updated Code of Conduct. This ensures staff can recognise signs of abuse or harm, understand appropriate behaviour, and uphold their responsibility to keep programme participants safe. The training promotes a respectful and safe workplace by clarifying boundaries and expected conduct, and by helping staff identify and challenge harassment, bullying, discrimination or misuse of power, as well as report concerns safely and confidentially.

International Alert | Annual report and accounts 2025 | Annual report | 22

~~Organisational details~~

Trustees	Mouna Ben Garga
(also directors of the	Nina Fallentin Caspersen Rosemary Carr*
company)	Jane Cotton
	Emma Hillyard* – Treasurer
	Azza Karam
	David Nussbaum* – Chair
	William van Niekerk*
	Rafael Velasquez*
	* Denotes a member of the Risk and Audit Committee
Principal offcers	Nic Hailey, Executive Director Natalie Hogg, interim Chief Operating Offcer (until 3 June 2025)
	Carrie Brownlee, Chief Operating Offcer (from 2 June 2025)
Auditors	HaysMac LLP, 10 Queen Street Place, London, EC4R 1AG, UK
Bankers	National Westminster Bank Plc, London Bridge Branch, PO Box 35, 10 Southwark Street,
	London SE1 1TT, UK
Solicitors	Bates Wells, 10 Queen Street Place, London, EC4R 1BE, UK
	Briddge Legal and Finance, Coen Building, Kabelweg 37, 1014 BA Amsterdam, Netherlands
	UK YESS Law, New Wing, Somerset House, London, WC2R 1LA, UK
	Rradar, 6 Beacon Way, Hull, HU3 4AE, UK
Status	Company limited by guarantee without share capital (registration number 2153193) in
	England and Wales, governed by Memorandum and Articles of Association, incorporated
	on 6 August 1987, registered as a charity in England and Wales on 24 September 1987
	(registration number 327553).
Registered offce	10 Salamanca Place, London, SE1 7HB, UK

International Alert | Annual report and accounts 2025 | Annual report | 23

~~Strategic report~~

Organisational structure

International Alert is a UK-based NGO, registered with both Companies House and the Charity Commission. As a company limited by guarantee with no share capital, our governance is overseen by a Board of Trustees (the Board), who are the directors of the company. Our Board is composed of nine trustees from a range of backgrounds, nationalities and locations. Trustee roles are recruited openly and competitively before appointment by the Board. Trustees serve an initial three-year term, with the opportunity for re-election for a further three years.

Potential new trustees undergo a due-diligence process, including the Disclosure and Barring Service (or equivalent) and sanctions checks. On appointment, new trustees are afforded an induction that covers core organisational policies, the Articles of Association, Alert’s strategy, annual plans and management accounts. All trustees sign the Code of Conduct and undergo a safeguarding induction.

The Risk and Audit Committee operates as a committee of the Board, providing guidance and oversight on financial performance and risk management. The committee is chaired by the treasurer and currently has four other trustees as members, including the chair of the Board.

Our peacebuilding programming, research and advocacy are delivered by our dynamic workforce of 169 staff members based in our offices in 16 countries. International Alert (UK) works alongside Stichting International Alert (‘International Alert Europe’), a foundation registered in The Hague, Netherlands. A collaboration agreement describes the relationship between the two entities and our accounts are consolidated. The chair of Alert Europe’s Board serves as a trustee of International Alert (UK); the Alert (UK) Executive Director and Chief Operating Officer sit on the Board of Alert Europe.

Decision-making

Meeting around four times a year, Alert’s Board is responsible for governance, defining the organisation’s strategic framework and annual objectives, and approving the annual budget. The trustees oversee financial reporting, which provides financial statements for each fiscal year, reflecting the organisation’s financial activities and position at year’s end. The Board reviews financial performance quarterly, preceded by a review by the Risk and Audit Committee.

The Executive Director is appointed by the Board and is accountable for all operational matters. Alert’s Executive Team, responsible for strategic and operational decisions at the staff level, is composed of the senior staff reporting directly to the Executive Director and rotating representatives from our country directors, the Gender, Diversity, Equity and Inclusion Committee and the Global Staff Forum.

The Board has three designated safeguarding leads (one male and two female). The Chief Operating Officer acts as safeguarding lead within the staff team, working with a cross-organisational group to promote good safeguarding practice and training for staff and partners.

International Alert | Annual report and accounts 2025 | Annual report | 24

Financial review

Trustees’ responsibilities

The Board is responsible for the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practices).

Company law requires the Board to prepare financial statements for each financial year that give a true and fair view of the charity and group’s situation and of its income and expenditure for that period. In preparing these financial statements, the Board is required to:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles in the Charities Statement of Recommended Practice (SORP);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards, including the Financial Reporting Standard (FRS 102), have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on a going-concern basis, unless it is inappropriate to presume that the charity will continue on that basis.

The Board is responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the charity and that enable the Board to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps to prevent and detect fraud, as well as other irregularities.

Insofar as the Board is aware:

• there is no relevant audit information of which the charity’s auditors are unaware; and

• the trustees have taken all steps they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The Board is responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. UK legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Public benefit statement

In accordance with section 17 of the Charities Act 2011, the Board has considered the guidance on public benefit provided by the Charity Commission. Specifically, as a peacebuilding organisation with a global reach, Alert’s work contributes to fostering peace, stability and social cohesion in conflictaffected areas. The Board has assessed the positive impact achieved in 2025 and determined that the planned activities and objectives established for 2026 continue to promote peace and contribute significantly to public benefit internationally.

International Alert | Annual report and accounts 2025 | Annual report | 25

Income and expenditure

Along with much of the international aid sector, Alert faced a challenging year in terms of financial and peacebuilding impact. In 2025 our total income was £15.6 million, down 22% from £20 million in 2024, largely as a result of the loss of funding from the US government. As noted above under Goal 5, we have worked hard to minimise the impacts of these funding cuts on the communities we serve, on local partners, and on our own organisation by carefully managing our cashflow, concerted (and ultimately successful) efforts to recoup funds owed for activities delivered, restructuring impacted teams, reprioritising our overall budget, and close engagement with other key donors.

We continue to be a largely restricted-funded organisation, a trend that we expect to continue in the coming years. In 2025, our restricted funding amounted to £13.2 million, compared with £18.7 million in 2024. Our unrestricted income was £2.4 million, compared with £1.3 million in 2024.

Alert is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice. Alert does not employ third-party fundraisers, ensuring direct oversight and control over all fundraising activities. We have a clear and accessible mechanism for making complaints available on our website. We did not receive any complaints during 2025.

We are immensely grateful to our core strategic donors, the governments of Sweden and Ireland and the Pears Foundation, who provided unrestricted funding in 2025 and thus flexibly supported our peacebuilding efforts.

Total expenditure in 2025

Expenditure on peacebuilding programming, research and advocacy continues to be our highest priority and focus for the vast majority of our expenditure.

----- Start of picture text -----
Raising funds 1% Charitable activities 99%
----- End of picture text -----

• Charitable activities: £16.0 million (99%), compared with £19.2 million in 2024.

• Raising funds: £0.2 million (1%), compared with £0.2 million in 2024.

Remuneration

Alert has a clear Salary Policy that applies to all Alert entities. All salaries including key management personnel are based on national pay scales with consideration for increases in the cost of living. The salary, and any salary increase, of the Executive Director is agreed by the Board.

International Alert | Annual report and accounts 2025 | Annual report | 26

Reserves

We carried forward a total of £10.0 million into 2026 (compared with £10.7 million into 2025), comprising £2.3 million in unrestricted funds and £7.7 million in restricted funds. Of our unrestricted funds, £0.8 million was designated as detailed below, with the remaining £1.5 million being free reserves.

Our designated reserves comprise:

• funding diversification fund of £0.1 million;

• programme transition fund of £0.5 million; and

• country programme operations fund of £0.2 million.

In line with Charity Commission guidance and to maintain smooth operations, Alert needs to hold back some funds as unrestricted general fund reserves in case of:

• non-renewal of a source of income, e.g. a core grant: funds might be needed to give the trustees and management time to act if income falls below expectations;

• a major unforeseen event (such as a pandemic or significant security incident) requiring deployment of funds;

• unforeseen day-to-day operational costs, e.g. restructure of organisation, employing temporary staff to cover a long-term sick absence, or cost of repairs or upgrades to infrastructure;

• short-term deficits in a budget, e.g. money needing to be spent before a funding grant is received;

• unforeseen project wind-up costs if not covered by donors in a worst-case scenario; and

• the need to invest in new strategic initiatives (with Board approval).

We revised our Reserves Policy in 2025, adopting a policy that states that the organisation will maintain reserves at a level informed by the financial impact of its top strategic, operational and contextual risks, weighted by their likelihood. This risk-based approach ensures that reserves are proportionate to the organisation’s exposure and responsive to the dynamic environments in which we operate.

Trustees monitor reserves during the year as part of the normal monitoring and budgetary reporting processes and as an indicator of the underlying financial health of the charity. This monitoring takes place alongside organisational risk assessment and management oversight.

The Executive Team will review the level of reserve range as part of the financial reporting for Board meetings in quarters three and four of each calendar year, as well as part of the submission and approval process for the annual report and audited accounts during the Board’s annual general meeting.

At the end of 2025, we calculated an unrestricted reserves target of £1.2 million, with a lower limit of £1.1 million and an upper limit of £1.4 million. As noted above, our unrestricted reserves at the end of 2025 were £2.3 million including designated reserves of £0.8 million. Our general free reserves were therefore £1.5 million, £0.1 million above our upper limit. The trustees are comfortable that this level of reserves is appropriate for the organisation given the risk landscape it faces.

International Alert | Annual report and accounts 2025 | Annual report | 27

Risk management

Achieving our strategic objectives and goals would be unattainable without embracing and managing risks within acceptable limits. Risk management is crucial for Alert at every level, enabling the Board and the Executive Team to make informed decisions and maximise opportunities, while ensuring that the residual risk carried by the organisation remains at an acceptable level.

We have a clear, single system for identifying, prioritising and managing our risks, ensuring this is done at the right levels. The Executive Team reviews risks across the organisation and escalates programme, project and operational risks to the Risk and Audit Committee and the Board, which regularly review the top organisational risks register. Our trustees provide valued external challenge and advice.

The top risks identified and mitigated by the organisation in 2025, and still faced by the organisation into 2026, are as follows:

• Security of our staff and partners operating in fragile contexts: with a number of surges in violent conflict during 2025, including in eastern DRC, we increased mitigating actions during 2025, as described in Goal 5 above.

• Financial sustainability, in a context of significantly shrinking donor funding: as noted above, we were grateful to secure additional funding from the Swedish government, which helped us navigate the challenging donor environment and we have plans to invest in diversifying our unrestricted income portfolio in 2026.

• Volatile operating environments due to political and security risks in countries where we work, which may cause delays in our programming, impacting on our ability to achieve our peacebuilding objectives and strategy: our country and regional directors track the political and security situation in the countries in which we operate. This information is shared weekly at management team meetings and is used to inform Country Security Plans.

• Cybersecurity: during 2025 we invested further in the mitigation of cyber risks, again securing Cyber Essentials Plus certification.

• Regulatory compliance in an increasingly complex and challenging context for civil society: following the introduction in 2024 of tools to allow each Alert office to assess compliance with national legislation and regulatory requirements, and the inclusion of these issues alongside financial controls in our rolling internal audit programme, we built on this work in 2025 as described in Goal 5 above.

Conclusion

The Board of Trustees of International Alert present this report for the year ended 31 December 2025 for the purposes of section 162 of the Charities Act 2011 and section 415 of the Companies Act 2006. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Financial Reporting Standard (FRS 102). The Board has also complied with section 17 of the Charities Act 2011 to have due regard to the guidance on public benefit published by the Charity Commission. In particular, the Board considers how planned activities will contribute to the aims and objectives set for 2026. The report was approved by the Board on 22 June 2026 and signed by the Chair on its behalf.

David Nussbaum

Chair, Board of Trustees

International Alert | Annual report and accounts 2025 | Annual report | 28

~~Acknowledgements~~

Donors

We would like to thank our strategic donors:

We would also like to thank our project donors:

Agence Française de Dévelopment Austrian Development Agency Bezos Earth Fund Cleen Foundation Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) European Centre For Development Policy Management European Commission European External Action Service European Investment Bank Federal Department of Foreign Affairs, Switzerland Foreign, Commonwealth & Development Office (FCDO) Global Affairs Canada Green Climate Fund International Climate Initiative

Kreditanstalt für Wiederaufbau (KfW) Ministry of Foreign Affairs, Finland Ministry of Foreign Affairs, Netherlands Open Society Foundations Peacenexus Foundation Sport Global Charitable Foundation - administered by Prism the Gift Fund Swedish Postcode Lottery Foundation The Hague Academy for Local Governance UN Women United Nations Development Programme (UNDP) United Nations International Organization for Migration United Nations Office for Project Services (UNOPS) United States Agency for International Development (USAID) United States Department of State

International Alert | Annual report and accounts 2025 | Annual report | 29

Partners

We would like to thank our project partners*:

Action pour la Formation et l’Autopromotion Rurale (AFAR)

Accountability Lab Nepal Action des Communautés Unies pour le Développement Integral (ACUDI) Act for Change Adam Smith International Al Jalil Association

Appui à la Communication Interculturelle et à l’Autopromotion Rurale (ACIAR)

Association des Commerçants TransFrontaliers au Burundi (ACTF-Bu)

Association des Commerçants Transfrontaliers au Rwanda (ACTR)

Association des Femmes pour la Nutrition à Assise Communautaire (AFNAC)

Association des Femmes Repatriates du Burundi (AFRABU)

Association Nabad for Development Association pour la Défense, Développement et Assistance des Veuves et Orphelins (ADLVOR)

Association pour la Promotion et l’Éveil de la Femme (APEF) Bageshwori Asal Sashan Nepal Banin Association Beam Bikalpa-An Alternative Bilozerka Center for Regional Development Bureau d’Etudes Scientifiques et Techniques (BEST)

Caritas Suisse Catholic Justice and Peace Department (CJPD) Célébrons le Courage des Femmes (CCF) Centre de Résilience Psychologique (CRP) CercleDev Charitable Intellectual Development Association Chouhah El Nour Chouf – Association for Development Citizens Centre for Integrated Development and Social Rights (CCIDESOR)

Commission Episcopale Justice et Paix Rwanda (CEJP)

Concern Worldwide Conflict Sensitivity Community Hub (CSC-Hub) CoWater International CrossBoundary Advisory DanChurchAid (DCA) Danish Refugee Council Deltares Digital Media Foundation Ethiopia Institute of Peace (EIP) Family Rights Forum Farah Social Foundation Fédération des Entreprises du Congo (FEC) North Kivu Fédération des Entreprises du Congo (FEC) South Kivu Federation of Nepali Journalists Fleuve d’Eau Vive coule aux Autre (FLEVICA) Forum des Mamans de l’Ituri (FOMI) Forum for Women Law and Development (FWLD) Fund for Peace Geneva Call GFA Consulting Group Hague Centre for Strategic Studies HALO Trust Haqi Awrath Heritier du Développement au Congo (HDC) Houdoue Association Humanity and Inclusion Initiative’s Development and Support Center “Nihol” International Livestock Research Institute (ILRI) International Peace Information Service (IPIS) International Public Foundation “Roza Otunbayeva Initiative”

iPEACE Jireh Doo Foundation (JDF) Justice Plus

International Alert | Annual report and accounts 2025 | Annual report | 30

Karama Humanitarian Kayapalat Keen International Koloob Min Noor Association for Handicapped Kopila Nepal Learning Through Action Legal Aid and Consultancy Centre (LACC) Masar Association Media Initiatives Center Mercy Corps Mershon Centre, Ohio State University Midal Mines Advisory Group (MAG) Mobaderoon Monatada Tanmiya Lebnani Mwangaza Peace National Center for Socio-Economic Development “Sabr” National Organization of Professional Trauma Counselors in Rwanda (ARCT) National Wellness Network Norwegian Refugee Council (NRC) Nusroto Al-Anashid Association Observatory for Governance and Peace (OGP) One Girl, One Leader (OGOL) Open Knowledge Nepal

Oxfam

Oxfam Novib Oxford Policy Management Plateforme des Associations et Coopératives des Commerçants Transfrontaliers (PACT) Bukavu Plateforme des Associations et Coopératives des Commerçants Transfrontaliers (PACT) Goma Plateforme des Associations et Coopératives des Commerçants Transfrontaliers (PACT) Kamanyola

Pole Institute Private Sector Federation (PSF) Programme Amkeni wa Mama (PAMA) Public Foundation “DIA” Public Journalism Club Public Organization Dunei Sabz Public Organization Peshsaf

Rachaya Environmental Committee Organization Rapti Sanchar Sewa Republican Social Information Center “Istiqbolli Avlod”

Réseau des Femmes Engagées dans la Mine pour la Paix et Développement (REFEEMIPAD) Réseau des Institutions de Microfinance (RIM) RIM (Réseau interdiocésain de microfinance) Rwanda

Sada Bekaa Safal Nepal SaferWorld Salam LADC Samarra Jan Utthan Kendra Sambandha Nepal Sancharika Samuha Nepal Save The Child Initiative Save the Children International (SCI) Shekari Samaj Social Development Centre Nepal Solidarité des Femmes de Fizi (SOFIBEF) SPHERE Building Tomorrow (SBT) Stepanakert Media Club Stichting IHE Delft Institute for Water Education Sunaulo Sisaut Nepal Tafaol Association The LEE Experience Transcultural Psychosocial Organization Nepal (TPO Nepal) Trauma Healing and Reconciliation Services (THARS) Trocaire Turkana Pastoralists Development Organization (TUPADO) Ukrainian Community of Dialogue Practitioners Uspeak Voices of Women Media Nepal (VOW) Voluntary Aid Initiative (VAI) Wajeb Bashar Wehdat Al Mojtamaa Wetlands International Women Council of Donetsk Region Women of Future

International Alert | Annual report and accounts 2025 | Annual report | 31

Women Platform Lead Women Service Institute World Resources Institute Yerevan Press Club Youth Development Organization Zati Lebanon Zinc Network

• Due to sensitivities around naming peacebuilding organisations in some contexts, this list is not exhaustive.

International Alert | Annual report and accounts 2025 | Annual report | 32

Accounts

~~Independent auditor’s report to International Alert~~

Opinion

We have audited the financial statements of International Alert for the year ended 31 December 2025, which comprise Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the group’s charitable and company’s affairs as at 31 December 2025 and of the group’s charitable company’s net movement in funds, including the income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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.

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 group’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

International Alert | Annual report and accounts 2025 | Accounts | 34

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report and the Chair’s statement. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion 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 such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work 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 in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees’ annual report (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors’ report included within the trustees’ annual report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the charitable company; or

• the charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement on page 25, the trustees (who are also the directors of the charitable company for the purposes of company law) are 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 trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

International Alert | Annual report and accounts 2025 | Accounts | 35

In preparing the financial statements, the trustees are responsible for assessing the group’s charitable company’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 group charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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 auditor’s 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 group and the environment in which it operates, we identified that the principal risks of non-compliance related to charity and company law applicable in England and Wales, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and the Charities Act 2011, payroll tax and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries and management bias in certain accounting estimates and judgements such as the recognition of income and expenditure at the year end. Audit procedures performed by the engagement team included:

• inspecting correspondence with regulators and tax authorities;

• discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

• evaluating management’s controls designed to prevent and detect irregularities;

• identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and

• challenging assumptions and judgements made by management in their critical accounting estimates

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

International Alert | Annual report and accounts 2025 | Accounts | 36

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Harper (Senior Statutory Auditor) For and on behalf of HaysMac LLP, Statutory Auditors

10 Queen Street Place London EC4R 1AG

International Alert | Annual report and accounts 2025 | Accounts | 37

~~Financial statements~~

Statement of financial activities for the year ended 31 December 2025

Unrestricted Restricted 2025 funds funds total Notes £’000 £’000 £’000 Income and endowments from: Donations and legacies Donations 4 - 4 Income from charitable activities 2,323 13,182 15,505 Income from investments 26 - 26 Other income 9 - 9 Total income 2 2,362 13,182 15,544 Expenditure on: Raising funds 3 239 - 239 Charitable activities 3 817 15,190 16,007 Total expenditure 1,056 15,190 16,246 Net income/(expenditure) 1,306 (2,008) (702) Transfers between funds (365) 365 Net movement in funds 941 (1,643) (702) Reconciliation of funds: Total funds brought forward 1,357 9,377 10,734 Total funds carried forward 15 2,298 7,734 10,032 Being: Restricted funds - 7,734 7,734 Designated funds: Designated fund for income diversifcation 100 - 100 Designated fund for country programme operations 200 - 200 Designated fund for programme transition 500 - 500 General funds 1,498 - 1,498	Unrestricted Restricted 2025 funds funds total Notes £’000 £’000 £’000 Income and endowments from: Donations and legacies Donations 4 - 4 Income from charitable activities 2,323 13,182 15,505 Income from investments 26 - 26 Other income 9 - 9 Total income 2 2,362 13,182 15,544 Expenditure on: Raising funds 3 239 - 239 Charitable activities 3 817 15,190 16,007 Total expenditure 1,056 15,190 16,246 Net income/(expenditure) 1,306 (2,008) (702) Transfers between funds (365) 365 Net movement in funds 941 (1,643) (702) Reconciliation of funds: Total funds brought forward 1,357 9,377 10,734 Total funds carried forward 15 2,298 7,734 10,032 Being: Restricted funds - 7,734 7,734 Designated funds: Designated fund for income diversifcation 100 - 100 Designated fund for country programme operations 200 - 200 Designated fund for programme transition 500 - 500 General funds 1,498 - 1,498	Unrestricted Restricted 2024 funds funds total £’000 £’000 £’000	Unrestricted Restricted 2024 funds funds total £’000 £’000 £’000	Unrestricted Restricted 2024 funds funds total £’000 £’000 £’000
		6 - 6
		1,288 18,653 19,941
		32 - 32
		16 1 17
		1,342 18,654 19,996
		239 - 239
		1,389 17,832 19,221
		1,628 17,832 19,460
		(286) 822 536
		(30) 30
		(316) 852 536
	1,357 9,377 10,734
		1,673 8,526 10,199
		1,357 9,378 10,735
			- 9,378 9,378
			- - -
			- - -
			- - -
		1,357 - 1,357

International Alert | Annual report and accounts 2025 | Accounts | 38

Balance sheet at 31 December 2025

Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors Amounts falling due within one year 11 Net current assets Provisions for liabilities 12 Total net assets 14 Funds Unrestricted General funds Designated funds: Designated fund for income diversifcation Designated fund for programme transition Designated fund for country programme operations Total unrestricted reserves Restricted 15	2025 Group £’000 18 1,162 10,186 11,348 1,163 1,163 10,185 171 10,032 - 1,498 100 500 200 2,298 7,734 10,032	2025 Charity £’000 18 1,251 10,065 11,316 1,153 1,153 10,163 171 10,010 - 1,498 100 500 200 2,298 7,712 10,010	2024 Group £’000 3 3,733 7,967 11,700 801	2024 Charity £’000
				3
				3,824
				7,846
				11,670
				795
			801 10,899 168 10,734 - 1,357 - - - 1,357 9,377 10,734	795
				10,875
				168
				10,710
				-
				1,357
				-
				-
				-
				1,357
				9,353
				10,710

The net income / (expenditure) of the parent charity before consolidation was (£714k) (2024: £546k).

Approved by the Board of Trustees and authorised to issue on 22 June 2026 and signed on its behalf by:

David Nussbaum

Chair

Emma Hillyard Treasurer

Company Registration Number 2153193

The notes on pages 40 to 54 form part of these financial statements.

International Alert | Annual report and accounts 2025 | Accounts | 39

Statement of cash flow for the year ended 31 December 2025

Notes Cash fows from operating activities: Net cash provided by operating activities 16 Cash fows from investing activities: Interest from deposits Purchase of tangible fxed assets 9 Net cash provided by investing activities Change in cash and cash equivalents in reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	2025 £’000 2,212 26 (19) 7 2,219 7,967 10,186	2024 £’000
		27
		32
		-
		32
		59
		7,908
		7,967

Notes to the financial statements

1. Accounting policies

Accounting basis

These financial statements are prepared on a going concern basis, under the historical cost convention, modified to include certain financial instruments at fair value. The financial statements are prepared in sterling, which is the functional currency of the Group. Monetary amounts in these financial statements are rounded to the nearest pound. The principal accounting policies adopted are set out below.

The financial statements have been prepared in accordance with the Financial Reporting Standard Applicable in the UK and the Republic of Ireland (FRS 102). The charitable company is a public benefit company for the purposes of FRS 102, and the Group has also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (The FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011.

Going concern

The trustees have considered the charity’s ability to continue as a going concern, taking into account its financial position, forecasts, and principal risks. They have reviewed cash flow projections and budgets for a period of at least 12 months from the date of approval of the financial statements. Alert has a diversified funding base, comprising institutional grant income, restricted and unrestricted funds, and other voluntary income. At the balance sheet date, the charity held sufficient unrestricted reserves and cash balances to meet its current obligations. The trustees have also considered the timing of committed grant income and expenditure, including the phasing of restricted project funding.

International Alert | Annual report and accounts 2025 | Accounts | 40

The trustees have assessed the potential impact of key uncertainties, including funding volatility, foreign exchange movements, and geopolitical or operational risks affecting programmes. Mitigating actions include active cashflow management, regular financial monitoring, scenario planning, and engagement with existing and prospective funders.

Based on this assessment, the trustees have a reasonable expectation that International Alert has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the trustees continue to adopt the going concern basis in preparing these financial statements.

Critical accounting estimates and judgements

In accordance with FRS 102, the trustees are required to make certain estimates and judgements that have an impact on the policies and amounts reported in the financial statements. These estimates and judgements are based on historical experience and other factors including expectations of future events that are believed to be reasonable at the time such estimates and judgements are made.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

The significant estimates and judgements are:

• accrued income (see Income Policy below) ;

• accruals: costs not yet invoiced (see Expenditure Policy below); and

• allocation of support costs (see Expenditure Policy below).

In the view of the trustees no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

Income

All income is recognised in the Statement of Financial Activities when the charity is legally entitled to the income, receipt is probable, and the amount can be measured reliably. Where income is subject to performance-related conditions, it is recognised as the charity satisfies those conditions, typically as services are delivered or milestones are achieved. Where such conditions are not yet met, income is deferred. For contracts and grants that span multiple accounting periods, income is recognised over time on a systematic basis that reflects the delivery of services or fulfilment of obligations. Income received in advance of performance is recognised as deferred income within creditors. Where there are no performance-related conditions attached to the income, it is recognised when the charity has entitlement, receipt is probable, and the amount can be measured reliably. If not yet received or invoiced, this income is accrued.

Funds

Restricted funds are grants received for specific purposes as laid down by the donor. Expenditure that meets these criteria is charged to these funds. Funds unspent at the year end that will be spent in future accounting periods are carried forward as restricted funds.

Unrestricted funds are funds that can be freely used in accordance with International Alert’s charitable objectives at the discretion of the trustees. Organisational investment funds are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.

International Alert | Annual report and accounts 2025 | Accounts | 41

Tangible fixed assets

Depreciation is provided in order to write off the cost of the assets over their estimated useful lives on a straight-line basis as follows:

• office equipment and computers over three years;

• property improvements over seven to 10 years; and

• motor vehicles over three to five years depending on local legislation.

Assets over a capitalisation limit of £1,500 are treated as fixed assets. Those not over £1,500 are written off to expenditure. Assets purchased from donor funding are written off to expenditure when acquired.

Expenditure

Expenditure is classified under the two principal categories of raising funds and charitable activities. Costs of raising funds comprise salaries, direct costs and overheads of staff engaged in fundraising.

Grants to partner organisations are included in the Statement of Financial Activities when payment is incurred.

Charitable activities are all the resources expended on programme and project work that is directed at the achievement of its charitable aims and objectives. Such costs include the direct costs of the charitable activities together with those support costs incurred that enable these activities to be undertaken. Direct project costs have been allocated in accordance to resources expended against the stated activities.

Support costs have been apportioned on a reasonable, justifiable and consistent basis to each of the activity cost categories being supported. Support costs have been allocated either on the basis of time spent on the activity or on the basis of usage – that is, on the same basis as expenditure incurred directly in undertaking the activity.

Expenditure is accounted for on an accruals basis. Irrecoverable VAT is included with the item of expense to which it relates.

Foreign currency

Transactions in foreign currencies are translated into sterling (GBP) at the rates of exchange published on a monthly basis. Assets and liabilities at the year end are translated into sterling at the rate of exchange ruling at the balance sheet date. Exchange differences are accounted for in the Statement of Financial Activities.

Taxation

The charity falls within the meaning of Part 1, Schedule 6 of the Finance Act 2010. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 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. No tax charges arose in the period.

Irrecoverable VAT is not separately analysed and is charged to the Statement of Financial Activities when the expenditure to which it relates is incurred, and is allocated as part of the expenditure to which it relates.

International Alert | Annual report and accounts 2025 | Accounts | 42

No provision has been made for corporation tax since all income is charitable and charitable status was obtained following incorporation.

Pension costs

The charity provides a defined contribution scheme, which is available to all UK employees. The funds are independently held from those of the charity. The pension costs comprise the costs of the charity’s contribution to its employees’ pension schemes.

Financial instruments

The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Financial assets comprise cash at bank and in hand, trade and other debtors. Financial liabilities include trade and other creditors. Basic financial instruments are recognised at transaction value. Details of these financial assets and liabilities and their carrying value are given in the notes to the accounts.

International Alert | Annual report and accounts 2025 | Accounts | 43

2. Total incoming resources

Institutional funding Agence Française de Dévelopment Austrian Development Agency Deutsche Gesellschaft für Internationale Zusammenarbeit European Commission European External Action Service European Investment Bank Federal Department of Foreign Affairs, Switzerland Foreign, Commonwealth & Development Offce (FCDO) Global Affairs Canada Green Climate Fund International Climate Initiative Irish Aid – Peace and Stability Fund – Core grant Irish Aid – Project funding Kreditanstalt für Wiederaufbau (KfW) Ministry of Foreign Affairs, Finland Ministry of Foreign Affairs, Netherlands Swedish International Development Corporation Agency (Sida) – Core grant Swedish International Development Corporation Agency (Sida) – Project funding UN Women United Nations Development Programme (UNDP) United Nations International Children's Emergency Fund (UNICEF) United Nations International Organization for Migration United Nations Offce for Project Services (UNOPS) United Nations World Food Programme United States Agency for International Development (USAID) United States Department of State World Bank Group Foundations, trusts and other organisations Act For Change Adam Smith International Association Rwandaise Des Conseillers En Traumatisme Bezos Earth Fund Caritas Suisse Cleen Foundation Cowater International Crown Agents European Centre For Development Policy Management	2025 £’000 17 524 468 2,155 170 61 798 761 812 64 8 138 665 - - 3,890 1,948 789 219 138 - 257 250 - 437 214 -	2024 £’000
		-
		529
		225
		1,394
		-
		148
		443
		1,242
		564
		-
		-
		203
		42
		(4)
		529
		7,228
		1,017
		445
		243
		104
		59
		9
		92
		54
		3,442
		542
		45
	14,783 12 33 - 50 9 23 4 - 2	18,595
		87
		-
		(58)
		342
		-
		39
		-
		80
		-

International Alert | Annual report and accounts 2025 | Accounts | 44

European Peacebuilding Liaison Offce (EPLO) Family Health International (FHI 360) Federation Of Nepali Journalists (FNJ) Forum For Women Law And Development International Livestock Research Institute Legal Aid & Consultancy Center Mines Advisory Group Open Society Foundations Oxfam Oxford Policy Management Pact Peacenexus Foundation Pears Foundation Sport Global Charitable Foundation – administered by Prism the Gift Fund Stichting IHE Delft Institute for Water Education Swedish Postcode Lottery Foundation The German Center for International Peace Operations (ZIF) The Hague Academy for Local Governance The Hague Centre For Strategic Studies The Mershon Center Transition International University Of Birmingham Zinc Network Corporate and private individuals, bank interest and other donations/income Bank Interest Other donations/income Gifts from individuals Total income	- - - - 15 (3) 49 2 2 5 - 25 50 124 169 (3) - 1 - 15 - - 115	5
		(15)
		220
		(3)
		-
		6
		46
		-
		3
		-
		50
		45
		50
		-
		132
		74
		1
		-
		9
		-
		4
		58
		165
	699 26 27 8	1,340
		32
		8
		21
	61	61
	15,544	19,996

International Alert | Annual report and accounts 2025 | Accounts | 45

3. Total resources expended

Activities undertaken directly Direct staff costs Grant funding of activities Foreign exchange (gains) / losses Total Support & governance costs 2025 total resources expended Activities undertaken directly Direct staff costs Grant funding of activities Foreign exchange (gains) / losses Total Support & governance costs 2024 total resources expended	Raising funds £’000	Charitable activities £’000	Support costs £’000	Governance £’000	2025 total £’000
	8	4,996	481	50	5,535
	217	5,366	570	156	6,309
	-	4,714	-	-	4,714
	-	-	(312)	-	(312)
	225	15,076	739	206	16,246
	14	931	(739)	(206)	-
	239	16,007	-	-	16,246
	Raising funds £’000	Charitable activities £’000	Support costs £’000	Governance £’000	2024 total £’000
	8	5,453	806	83	6,350
	198	5,695	780	198	6,871
	-	5,407	-	-	5,407
	-	-	836	-	836
	206	16,555	2,422	281	19,464
	33	2,670	(2,422)	(281)	-
	239	19,225	-	-	19,464

International Alert | Annual report and accounts 2025 | Accounts | 46

4. Staff numbers and costs

The average numbers of employees during the year were as follows:

The average numbers of employees during the year were as follows:
Raising funds Charitable activities – direct Charitable activities – support Overseas staff	2025 No. 5 14 10 132 161	2024 No.
		6
		8
		17
		174
		205

Staff costs during the year were as follows: Salaries Employer’s National Insurance contributions Pension costs Overseas staff cost	2025 £’000 1,537 178 156 4,438 6,309	2024 £’000
		1,890
		189
		186
		4,607
		6,872

During the year redundancy payments made amounted to £3,241 (2024: £64,797).

The numbers of employees receiving emoluments in the following ranges were:

The numbers of employees receiving emoluments in the following ranges were:
	2025	2024
	No.	No.
Between £60,001 and £70,000	5	7
Between £70,001 and £80,000	2	2
Between £80,001 and £90,000	1	-
Between £90,001 and £100,000	-	-
Between £100,001 and £110,000	1	-
Between £110,001 and £120,000	-	-
Between £120,001 and £130,000	-	1

Pension contributions amounting to £71,841 were made during the reporting period for employees whose emoluments for the year exceeded £60,000 (2024: £72,928).

Key management personnel include the Executive Director and Principal Officers reporting directly to the Executive Director. The total employee remuneration of the charity during the reporting period for key management personnel was £410,336 (2024: £466,251) and pension was £38,854 (2024: £37,245).

International Alert | Annual report and accounts 2025 | Accounts | 47

5. Grants funding of activities – grants to partners

5. Grants funding of activities – grants to partners
	2025	2024
	£’000	£’000
Accountability Lab Nepal	40	31
Action Des Communautés Unies Pour le Developpement	16	6
Action Pour La Formation Et L’Autopromotion Rurale	21	57
Africa Youth Growth Foundation	-	6
Angel Support Foundation	-	6
Antenna Foundation Nepal	-	1
Appui À La Communication Interculturelle Et À L'Autopromotion Rurale	61	8
Association Cross Border Traders of Rwanda (ACTR)	35	16
Association Des Commerçants Transfrontaliers Du Burundi	21	22
Association des Femmes Repatriates du Burundi (AFRABU)	74	68
Association pour la Promotion et l'Eveil de la Femme	1	-
Association Rwandaise Des Conseillers En Traumatisme (ARCT)	41	264
Bapeneco Uganda	66	141
Beam	-	7
Bikalpa-An Alerternative	6	-
Bilozerka Center For Regional Development	4	26
Bureau D'Etudes Scientifques Et Techniques	144	65
Catholic Diocese of Eldoret- CJP	8	-
Cehro Ethiopia	13	59
Célébrons Le Courage Des Femmes (CCF)	36	60
Cercle De Réfexion Et D'Action Pour Un Développement	1	17
Charitable Intellectual Development Association (CIDA)	13	-
Citizens Centre For Integrated Development And Social Rights (CCIDESOR)	14	3
Civil Society Development Association Argo	-	-
Cleen Foundation Nigeria	-	51
Commission Diocésaine Pour La Justice Et La Paix	2	25
Commission Épiscopale Justice Et Paix Du Rwanda (CEJP)	143	86
Digital Media Foundation	4	-
Family Rights Forum	-	7
Farah Social Foundation	38	-
Federation Des Entreprises Du Congo – Nord Kivu	3	13
Federation Des Entreprises Du Congo – Sud Kivu	3	14
Federation Of Nepali Journalists (FNJ)	31	39
Femme Congolaise Pour Le Développement (Feconde)	(10)	16
Fleuve D’Eau Vive Coule Aux Autres	59	9
Fondation Panzi	0	72
Forum Des Mamans De L’Ituri	48	8
Fund For Peace	22	26
Global Peace Development Initiative	-	28
Heritier du Developpement du Congo (HDC)	8	-
Institute Of Human Rights Communication Nepal	-	4
International Peace Information Service (IPIS)	382	25
Interpeace – DRC	-	166
iPEACE DRC	265	622
iPEACE Rwanda	509	452
International Public Foundation "Roza Otunbayeva Initiative"	18	44
Istiqbolli Avlod	-	37
Jireh Doo Foundation (JDF)	16	3
Justice Plus	280	397
Justicia	84	14
Kayapalat	4	-
Keen International	-	7
Kopila Nepal	4	-
Learning Through Action	38	-
Media Initiatives Center	116	61
Media Step	32	46
Midal	-	7

International Alert | Annual report and accounts 2025 | Accounts | 48

Mobaderoon (Mbdn) Mwangaza Peace (M-PEACE) Nusroto Al-Anashid Association Observatoire Gouvernance Et Paix (OGP) PACT – Bukavu PACT – Kamanyola Pokot Youth Bunge Pole Institute Programme Amkeni Wa Mama Public Foundation "DIA" Public Journalism Club Rachaya Environmental Committee Organization Rapti Sanchar Sewa Reseau des Femmes Engagees dans les Mines Reseau Interdiocessain de Microfnance (RIM) Reseaux Des Institutions De Microfnance Sabr Republican Center Socio-Economic Development Sada Bekaa Samarra Jan Utthan Kendra Sancharika Samuha Nepal Social Development Centre Nepal Solidarité De Femmes De Fize Pour Le Bien Être Familial Solidarité Féminine Pour La Paix Et Le Développement Sphere Building Tomorrow Stepanakert Media Club Ngo Sunaulo Sisaut Nepal Tenke Zoltani The LEE Experience Transcultural Psychosocial Organization Nepal (TPO) Transparency International Kenya Turkana Pastoralist Development Organisation (TUPADO) Union Association For Human Development Voices Of Women Media Voluntary Aid Initiative (VAI) Woman Of The Future Women's Platform To Lead Yerevan Press Club Other partners Total	9 39 3 108 4 3 - 595 1 7 142 3 2 1 37 32 6 40 (1) 11 5 18 (8) 3 48 6 - 34 0 - 25 7 2 14 4 - 104 693	22
		-
		3
		130
		-
		11
		25
		609
		-
		47
		117
		3
		-
		-
		-
		-
		15
		4
		66
		31
		-
		42
		169
		3
		63
		-
		5
		4
		46
		67
		30
		7
		31
		18
		26
		7
		101
		538
	4,714	5,386

International Alert | Annual report and accounts 2025 | Accounts | 49

6. Trustees’ renumeration

Trustees received no remuneration during the year ended 2025 (2024: £nil). During 2025, travel, accommodation and related expenses reimbursed to, or paid on behalf of, nine trustees amounted to £6,538 (2024: £7,221 in respect of 11 trustees).

7. Trustees’ liability insurance

The cost of trustees’ liability insurance for 2025 was £12,187 (2024: £13,710).

8. Included in the income and expenditure are:

Statutory audit fees Audit fees – other services Project audit fees Governance Depreciation Defned pension scheme contributions	2025 £’000 (32) (6) (107) (119) (3) (156)	2024 £’000
		(31)
		(6)
		(85)
		(243)
		(4)
		(186)

9. Tangible fixed assets

Cost At 1 Jan. 2025 Additions At 31 Dec. 2025 Accumulated depreciation At 1 Jan. 2025 Charge for the year At 31 Dec. 2025 Net book values At 31 December 2025 Net book values At 31 December 2024	Offce equipment and computers £’000	Motor vehicles £’000 93 - 93 93 - 93	Total £’000
	190		283
	19		19
	209		302
	187		280
	3		3
	190		283
	18	- -	18
	3		3

International Alert | Annual report and accounts 2025 | Accounts | 50

10. Debtors

0. Debtors
Accrued income Prepayments Sundry debtors Intercompany	Group Group 2025 2024 £’000 £’000 1,017 3,518 88 132 54 83 - - 1,159 3,733	Charity Charity 2025 2024 £’000 £’000
		978 3,232
		88 132
		54 82
		27 378
		1,147 3,824

11. Creditors

Creditors Taxation and social security Accrued expenditure Deferred income Note 11.a Pension creditors Sundry creditors	Group Group Charity Charity 2025 2024 2025 2024 £’000 £’000 £’000 £’000 14 69 14 69 632 318 628 313 391 244 391 244 64 74 64 74 2 1 - - 59 95 53 95
	1,162 801 1,150 795

11.a. Deferred income

Deferred income Opening balance Less: Realised during the year Add: Deferred income during the year	Group 2025 74 (74) 64 64	Group 2024
		881
		(881)
		74
		74

Deferred income relates to grants received in 2025 for 2026 projects.

12. Provision

2. Provision
Opening balance Less: Realised during the year Add: Provision for liability during the year	Group Group 2025 2024 £’000 £’000 168 454 - (286) 3 - 171 168	Charity Charity 2025 2024 £’000 £’000
		168 454
		- (286)
		3 -
		171 168

International Alert | Annual report and accounts 2025 | Accounts | 51

13. Commitment

At 31 December 2025, International Alert was committed to making the following payment under non-cancellable operating leases.

non-cancellable operating leases.
Operating leases which expire Within one year Within two to fve years Over fve years	Other 2025 2024 £’000 £’000
	12 12
	18 30
	- -
	30 42

14. Analysis of net assets between funds

Fixed assets Current assets Less: Creditors Less: Provision for liability	Unrestricted funds Restricted funds Total funds 2025 2025 2025 £’000 £’000 £’000 18 - 18 3,614 7,734 11,348 3,632 7,734 11,366 1,163 - 1,163 171 - 171 2,298 7,734 10,032	Unrestricted funds Restricted funds Total funds 2024 2024 2024 £’000 £’000 £’000
		3 - 3
		2,323 9,377 11,700
		2,326 9,377 11,703
		801 - 801
		168 - 168
		1,357 9,377 10,734

International Alert | Annual report and accounts 2025 | Accounts | 52

15. Movement on funds

The overall movement on funds is shown below. The restricted funds comprise unexpended balances of grants held on trust to be applied for specific purposes.

	At 1 January	Incoming	Outgoing	Other	At 31 December
	2025	resources	resources	transfers	2025
	£’000	£’000	£’000	£’000	£’000
Restricted funds*
Africa	7,799	10,380	(11,203)	-	6,976
AMECA region	1,958	1,740	(3,461)	-	237
Global Peacebuilding Unit	261	854	(617)	(25)	473
Alert Europe projects	24	189	(176)	-	37
Other	37	19	(45)	-	11
Exchange rate revaluation**	(702)	-	312	390	-
Unrestricted funds	9,377	13,182	(15,190)	365	7,734
General funds	1,357	2,362	(1,056)	(1,165)	1,498
Designated fund for income diversification	-	-	-	100	100
Designated fund for programme transition	-	-	-	500	500
Designated fund for country programme
operations	-	-	-	200	200
Total Unrestricted Funds	1,357	2,362	(1,056)	(365)	2,298
Total funds	10,734	15,544	(16,246)		10,032

• Restricted funds: The restricted balance of £7.7 million includes expenditure totalling £0.96 million that has not been reimbursed by donors. This is in line with project activities and the funds in this regard will be forthcoming from donors in 2026.

** In prior years, the impact of exchange rate revaluation was recognised in restricted funds. In 2025 we took a different approach and revalued each individual restricted fund that is held in foreign currency so the balance of the exchange rate revaluation fund has been moved to unrestricted funds.

each individual restricted fund that is held unrestricted funds.	in foreign curren	cy so the bal	ance of the ex	change rate rev	aluation fund	has been moved to
	At	1 January	Incoming	Outgoing	Other	At 31 December
		2024	resources	resources	transfers	2024
		£’000	£’000	£’000	£’000	£’000
Restricted funds*
Africa		5,764	14,196	(12,128)	(33)	7,799
AMECA region		2,276	3,831	(4,151)	2	1,958
Global Peacebuilding Unit		317	326	(382)	-	261
Alert Europe projects		37	254	(299)	32	24
Earmarked projects		-	-	3	(3)	-
Other		-	45	(40)	32	37
Exchange rate revaluation		132	2	(836)	-	(702)
Unrestricted funds		8,526	18,654	(17,833)	(30)	9,377
Unrestricted funds		1,673	1,342	(1,628)	(30)	1,357
Total funds		1,673 10,199	1,342 19,996	(1,628) (19,461)	(30) -	1,357 10,734

• Restricted funds: The restricted balance of £9.38 million included expenditure totalling £3.48 million that has not been reimbursed by donors.This is in line with project activities and the funds in this regard were forthcoming from donors in 2025.

Movements and transfers between funds relate to reallocation of projects between regions but also the clearing of old closed projects balances.

International Alert | Annual report and accounts 2025 | Accounts | 53

16. Notes to the cash flow statement

Reconciliation of net income to net cash fow from operating activities Net income for the period Interest from deposits Depreciation (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash infow/(outfow) from operating activities Analysis of changes in net debt Cash and cash equivalents Cash at bank Total	At 1 Jan 2025 £’000		2025 £’000	2024 £’000
			(702)	535
			(26)	(32)
			3	5
			2,572	484
			365	(965)
			2,212	27
			Cash fows £’000	At 31 Dec 2025 £’000
	7,967		2,219	10,186
	7,967		2,219	10,186

17. Related party transactions

• (i) A trustee and members of key management personnel are on the board of Stichting International Alert in the Netherlands.

• (ii) During the reporting period, International Alert donated to its affiliate Stichting International Alert £4,615 (2024: £95,598).

18. Subsidiary entity included in the group consolidated result

Stichting International Alert is a foundation incorporated under the laws of the Netherlands having its corporate seat in The Hague, the Netherlands and its address at Fluwelen Burgwal 58, 2511CJ The Hague, the Netherlands, registered with the Dutch Chamber of Commerce under number 69358621 (the “Foundation”). It is controlled by International Alert through Stichting International Alert’s Board composition.

composition.
	2025	2024
	£’000	£’000
Total net assets at 31 December	23	23
Project income for the year	189	254
Donation from International Alert	5	96
Expenditure for the year	181	363
Surplus / (defcit) for the year	13	(13)

International Alert | Annual report and accounts 2025 | Accounts | 54

Endnotes

• 1 International Alert, Partners for peace: International Alert’s strategy 2024-2030, 2024, https://www.international-alert.org/ app/uploads/2024/01/International-Alert-Strategy-2024-30-EN-2023.pdf

• 2 International Alert, International Alert’s partnership position, 2023, https://www.international-alert.org/publications/ international-alerts-partnership-position/

• 3 International Alert, Integrating peace: Responding to the realities of working in fragile and conflict-affected settings, 2025, https://www.international-alert.org/publications/peace-integration/

International Alert | Annual report and accounts 2025 | Annual report | 55

International Alert works with people directly affected by conflict to build lasting peace. We focus on solving the root causes of conflict with people from across divides. From the grassroots to policy level, we bring people together to build sustainable peace.

www.international-alert.org

International Alert /international-alert [e-mail] www.international-alert.org /InternationalAlert Registered charity no. 327553

Published June 2026

© International Alert 2026. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without full attribution. Layout: Marc Rechdane

Cover: Hanan Saleh is part of a network of over 130 women mediators in Lebanon, supported by International Alert in partnership with UN Women. © UN Women / Rita Kabalan