Community Foundation North East (formerly known as Community. Foundation serving Tyne & Wcar and Northumberland) (A company limited by guarantee) Annual financial statements for the year ended 31 March 2025
Community Foundation North East (A companj limited by guarantee) Annual financial statements for the year ended 31 March 2025 Contents Annual rcport for Ihc ycar ended 31 March 2025......................................-...........-.........................................-.... IndLpendent Auditor'% Rep(Irt t() the Members of c.ommunity F'oundation Nc)rth Last.. 13 Con.4(Ilidated statement of financial dLtivitiL% for the Jear ended 31 March 2025 . 17 Consolidatcd incomL and cxpcnditure account tnr the year ended 31 March 2025 ..........-..-..-...-.-...-..-.-...-...-... 18 BalancL shccts at 31 March 2025............................................................-..-......-..-.........-........................-...-.- 19 CunsolidatLd ch fluw statLmLnt for thc yLar cndcd 31 Mh 2025 -20 NlotL'S lu IhL rnLIa[ slalLmLnls for thL yLdf LndLd 31 2025.......-.........-.-.......-.-......-..-..........-....-.-..-.... 21
Community Foundation North East Annual report for the year ended 31 March 2025 Introduction l-he Board presents ils report and the audifrd ¢onsolidaled finanvial staten]ents for the year ended 31 March 202). The Charity's full name is Community FuLtndation North East changing ils name from Community Foundation Sc.1n& -ryne & Wear and Northumberland on 16 Slptember 2025. The Communil}' I'oundation Nc)rth P.asl's charity. regi.4tration number is 700510 and the limited company numbtr 1% 02?73708. 'Ihe printiipal offiLC and rLgistcrcd oftitye is I'hilanihropy FIuu5L, Woodbinc Road, Gosfvrth, Newcastle upon .1 yne, Tyne & Il'L"ar NE3 IDD. The Chariiy is inLorpoialed in thc UnitLd Kingdom. J'he Community Foundation North b.ast cnmpriqes four sepalC organisations Th'hose financial statements and aclivilies arc consolidatLd within the gr()up. They are as follows.. Community Foundation North I,. ast- a Iirnilcd CoMpY and main operating charily, alsu incorporating Cotnmunity Fir%t Trust. Tyne and Wear Foundaiic)n'l rust- a LharitdblL trust, which hold.q donaliiins ofpernianLnl LnduwmLnt to thc C()mmunity Foundation North Lasl (liroup). 'l-his has enabled se.eral hisloriL hlIabIL t515 to bc trsIlrrL.d to the C3roup. 'lyne & WLdr Foundation Limited - a trading company whosL profits. arL covenled to the C.'ommunily I'ounddlion Nurth I,"dst. I'hc trading company is mainly us¢d lur SPLiifiL largyc fui)drdi.%ing evenL8 but aS inautive during thL yLar. Joseph Brough c.haritable TrusÉ - an endowed trust making grants in the historic counties ol. Durham and NorthumbLrld, of which the Community l.ounddlion N()rth EdSt is .4ole tru.4tee. l-he Cummunity Foundation orth Easl also administers 'l'he bred Clay Tnjst, which has tis owi trnslee5 and rLporls' SepalL1Y lo Ihc Charity Commission and lis lindncial inforniation is not included wiihin these rinanLial statetnenls. I'he Communiiy boundalion Notih East is a member of LIK Community Foundation.8 IUKCTr), registered charity number 10046311, h]Ch 5UPPOrts and promotes good praLlice betw'een community foundations in the Uniied Kingdom. The Community F.oundation North F'ast manages certain funding programmes on contracts from UK Community Foundation5 but is not oiherwise subjeLt to any governance arrangements 1th LIK Communilj Foundations.
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Advisers Independent Auditors Aiels Audii Services Bulman House Regent Lentre Gosforth NLw'Lastle upon Tjne NF.3 31.S Main Bankers Barclays13ank PLC NLwLastlL Corporate Services Barclays I louse 5 St. Ann'.% %trcet Quavqide Newudstle upon Tyne NEI 3DX Investment Managers Raihbone Invesltnenl ManagemeT]t LimilLd Earl GrLy EIousL 75-S5 Cirey Street N¥wLdStlL upon -I'Jne NEI 6EF Cai.cnovL L'.dPital I l.(Jnd()n Wall l)lace Lundon EC2Y 3AB CCl.A Inveslmeni Management Limited OnL AngLI LdnL London EC4R 3AB Solicitors Muukle l.I,P Titne Central 32 Gallowgate NeH'castle uwn T}'ne Nbl 4BI-.
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Structurey governance and njanagemenl I'he Community Foundation North East is a limited company goN'erned b>, Memorandum and ArtILles of Association drawn up in 1988 and amended in 1990. 2000, 2007, 9017, 2018, 20? l and 202). The Memoralldum and Articles allow for four categories of members as follows= Calegor> A - voluntary organi5alions Category B - inditridua15 Cdteb)()ry C- slalut()ry' authorities Categi)ry D- companiesibusinesses Members have voting rights at thL Annual GLncral Mccting and reCeIe regular infomiation about Community Fi)undation North l..&st acliviliLs Ihrou¥houl thL year. MLmbLr.s ma). nominate L2ndidates f()r election to the Board. F.ach menibership ¢dtcgoFy eleLts Iwu mLmbLrs to thc Bi)ard cxLept li)r CateLiary C, where Board niembers are app()inied by mulual Lonsent. 'L'hL 13odrd may Lo-opt up tti fiN"e further member% and i_% rLquired to en.%ure adequate repre.qenlaliLin ihroughoul IhL arua ol bLnLfit. Board mcmbL"r.q.serve for a Ihree-year terni and may be elected/appi)inled for two further periods of thrLL yl5 cach. I"hLfL rang£MCnt£ fi)r inductii)n, training and suppcirt of Hc)ard metnbLrs. f,duh nLW 13udrd MLmbLr is ¥iN'Ln an induLtion Pdck and attend.4 induLrii)n 8essinns with the executive leam n]LL"ts' IhL Chair. 'I'hL Numindliuns CommittLL rLViCWS %kills and experienLe ol'the Flnard menibers dnd tll<ly arrange trdining rLquirLd. 'I"hL invulvLmLnt of BOa mLmbLrs is reIeWed by the Otlicers of the 18oard annually lu ensure thal skills limL providLd by mLmbLrs arc uscd t() best eflect. Additionally, Board skills are kept under review lo inlortR Eluard mLmbLr rLLruitsnLnL LngagLmLnl support. B(iard members also I'olunteer their serviues to assisl in C()mmunily I,uundation Nurth Last aclivitiLs, such grt panel%, donor devel()pment and public speaking during the year. The full Board m¢Lts four times a ycar. An additional mLLting is held lor refle¢Lion and forward planning as required within the strategy perioLI. Wiihin the annual L)'Llt, thc Board.. agrees an operating budgei; Teceives quarterly Magement aLCOUnts,' agrees annual objeLtives; rei'iews objectives- monitors pertornianie Thiihin agreeLI targets; considers risks and s to mitigale thcm. considers strategie issues. and rcLLiVCS reports and minutes from all sub-committees lisied below.
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Structure? governance and management {conlinu¢d) I'he Board appoints .8ub-Lommitlees and "OrkIng groups, hICh are responsible for more detailed oi'"ersight of straleg), and aLtii'ilies thithin their area ol responsibility.. The SLib-committccs and work.ing groups meeting during the }.¢ 'ere'. Finance and Resources C'ommittee (F&R} Infvesimenl C".ommiltee (In} Nominations C'.ommittcc (Nom} NorthL&stl 00 development group {NEI 00) Members (If the Board w,ho served during the Jear and up lo the Llalc of signing of Ihe financial 5talcmcnl including Committees on which they served during the y'ear, are as follows: Phil Moorhouse- c.hair LU-OPtLd OLtobLr 2021 Lvc), Nl'inskell OBE - I)eputy c.hair from OLlober 2022 elLLILd l)LLLmbLr 2016 Paul Farquhar - Treasurer co-opied March 2018 Jill Baker co-opied June 201 () l¥lichael Brodie CBE Co-opted F'ebruary 20211 SArdh Glelldilllling co-opted Clctober 2022 Andrew Haigh LILLILd DLLLmbLr 2016 Colin Hew'itt LILItLd OLlobLr 2021 Claire Malcolm IBE co-opled March 2019 Pam Smith appoinlLd Octobcr 2023 to rcpresent statutory authorities Laura Il'an*'ick apwinted Noi'ember 2018 Stella Simbo eleLled OLtober 202? Fiona Standfield co-opted October 2022 (I."&R, Inv. Nom, 4E.I 00) (I'&ll, Nl.-100, Nom) (I.&K Inv) (Nom, Inv) (NEIOO) (Inv) (F&R) (F&ii) (NE100} (N'om) (Inv) At the AGM in autumn 2025, Claire Malcolm, Stella 8imbo, Sarah CJlendinning, Jill Baker and Fiona StdndfiL.Id comL to thL Lnd ut'a IhrcL" _Jear term are eligible for re-eleLtionlre-co-oplion. Lucy W'inskell and Andrew Haigh NN'ill reiire at the AGNI having served their MlmuM term.
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Strueturey goi'ernance and management {eolltillued) The Board also appoints a President, Vice Presideni.8 and Patrons in recognition of their distinguished service to the ¥ummunit>' or contribution5 tu Ihc Community Foundation North F.¢1. 'J'hese are honorary p05ilions with rjo formal poM(ers or dulles. "I'he Board re.IL.cd appointments in September 2020. The current olrice holders e lisigd in the >edrix)ok and on the communit FciunLldliun North Last's ii"ebsite. Thc liability of the members tor the dcbls and liabilities ol Ihe CoTllpJY 15 limited and in the ei'ent of the company being wound up wiTruld not exceed £1 per member. Th¢ Board has a 4chcmc of delenation which details areas where the Board has, ill accordancL with the Memurandum and ArtiLILS ()f As_4()ciatii)n, delegatLd deknisilins to individual IrustCL"s, lo sub-Lun]mittLe% or task groupb or lo Ihc cxcLulivc tcam. T'hc_schLme ot delegiation also covers Ihlise matters always rLsLfvLd r()r thL lull m¥mbLrship and the full Board. Thc delcgaled dfL'aq are segmenled inio Ihe follol[t¥ LaLcgorics= govem9nc¥, audit & risk, opcrations and finCe, investment, and philanthrc)py and funding. At the year end Ihe ex¢cutivL tcam mcmbcrs rLswnsiblc for ddy-to-day managemenl of ihe C.harily delegated by the Iloard wLrL: liob Williamsun 0131.. C'.hiLf F.XLLuIivL ()fficcr Sonid Wdugh ChiLt' FinancL and C)per2ting (Il'licer John 14()Iling.qworth C'hiel-Philanihrupv dnd DLvLIupmLnl OIÈiLLr Adgun Lupdrdo ChiLFFunding) and Partner%hips Ot'licer AI thl ycar-end there was a total of 24 staff {full time equivalent 21.7). The Board h&8 a remuneration poliLy which covers Iht arrangements lor setting salaries Ihroughout the organisation including those stal'l-responsiblti fur day-lo-day managjcment. The Communitv Foundation North East has its own salary scale with gradub inlLndLd to be broadly LompatiblL' Thlth Lharities of a similar si7.e in thL' ni)rth of F.ngland, and ihose with similar funclions auross thL UK. BLcaust ol. ils leading PO.4ition in the hlty, sLLtor, thL Lommunit! Foundation NorEh Last'b eKeLuil¢ sialf must have signi11Lt cxpertise so it must be able to draw from thL best talLnt in a competitive mirkel. ExeLuliK'e staff roles arL iherctorL ungraded ,hiLh allows the Board lo be more fle.xiblc in setting Pdy iN'hen recruiting k]nd reviei¥'ing perfom]ance. All salaries are revieTh'ed annually by a sub-committee of Ihc Board with any recommendaiions tor pay increases presented to ihe full Board f()r approval H,hen it agrees the atmual budgct. ThL sub-L()mmittee takes a¢Lount of cust-of-living ri%L'S dnd inflation: external benchmarking dat<L and staff perlomanLe and Lontributions io the orgt¢nisaLion's 1)rk. 'fh¥ Board sub-LominitteL' re.ie'S the chief LxeLUtiv¢'S salar! and other benclits i4'ithout him prcsenl, taking aLLounl ol laclors relatillgF to perfornidnce, benchmarkinbi and internal saldry differL'iitials.
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Objectives and acti*ities Th¢ Communily Foundation LNorth East's c)bjeLts' are for ihe benefit <)f the publi¢ gL'nLrallJ, in partiLular. bul not exclusivel, in ihe Jrcd of l-Tr'ne and Wear and NorthuTnbL'rland.. to promote support the prevention or relicf of poverty or dis&dvantaoe- to pre%erTre and proiecl healih; to adi'"ance thL education of the public,. for the general purposcs of such charitable bodies or for such other exclusively charitable putP05Cs in eaLh case a5 the Directors may from timc to limL decide. The Community Foundation North Easl's operational mission is to build a thriving, generous and inclu5ivc North East today, and for gen¢rations lo come by inspiring phildnthropv. InlS[ln8 in communities and influcncing change. -Ihe.%trategiL l()cus is on fiv¢ impact areas: tackle poiierty", widen aCLess io uppi)rtunity.. imprO.e health communit) [ery, strengthen culiure and communit}, life. and sustain the enl'ironmenl. ThL Community Foundati()n North F.asl is a generalist gidnl-makur to a M'ide range of community groups. Somc fund5 have morc restriLted purpo.4&8- f()r example ihe Sir .1 om Colc l. und only Fndkc5 g)rants' to OrglSalinS to support disadvantaged or disabled children and young pLpIC in SundCrld. ThL C'.ommunily l.ounddlion North East aLL()mm()datLs d()nnrs' lShe$ in respeci ol-granl dWdrd5 hLrL.VLf p055iblL. -I"hL Board hds agrLLd LLrtain cxclii.4ion% f<)r grants with its general funds and ihLSL arL dLtdilLd in grant iypIiLation matLrials availdblc on rLquc%t. The pred()minant 2ciivity 1% granl-making. bul ihc community Founddlion Nurth I,asl also dLVOtc% rLsourLcs to non-financial sector support, reseaitih, dci'uluptnLnl Jnd donor cduLalion whiLh aim lo inLrLasL IoLal philanthropj. Public bellefit -riiL Lommunily Foundation Nortli F.ast exists and i)perates for the public bLnLfit. 'Ihrough ils grtmt-making il work5 10 itnprL)WL thL Lommunity, in particular, but not exLlu.£ively, in l >ne & Illl'bdf dnd NorthumbLrldnd. l-he Tru5tLLs Lonfirm Ihdt thLJ have rLtirred to the sudance produbed by th¥ Chdril). Cotnmi55ion on publiu bL'nLfil whLn rLviL Thing thL" Lhdrity'% dims and objectives and in pldnning futur¢ ailiviliLs LI grdnl-mdking and are Sdlibfivd Ihdl il mLLts' IhL fLquirLmLnts. Plans for future periods Plans for future periods are detsiled on page 9 of this report. Strategie report Achies'ements and performanee 2024-2) was the liiial %ear of the Community Foundation North Last's strategy lo 20•). ,4¢hievcmenls againsl the fiwe gi()alb sLt in that strateg). during the vtr arL fLt out bLloH". More detailed d&s¢riplions ol-a¥tifvitiLs and their impact are inLluded in the Community, F'oundation F%'orth East's )'"Larbook.
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Strategic report {continued) Achiei'ements and perfortllance (contlDued} Goal /.' endblg more andbeiierphilanihropy £4.4m in eno,ment gifts and £4.9m in revenue gifts were received. 9 new funds wcre cstablished. Donor el'cnt4 held in Newcastle, Northumberland and London Cvndu¥ted an anonj'mous donor satisfaLlion survcj Goal 2.. supporl our rggion s small local ¢harili¥5 undcommunity organisalions 1,224 g)rants (2024= 1253) totalling £8.93m (2024= £8.48m) were awded, exLe¢ding the baseline ol- £6.8m and thc five-year target of £7.5m.'I'he majority rontinued io be for amounts under £5,000. In total 601 organi.%ati()ns and i7 individuals were suppo)rted. Thc table below sh()ws the breakdown by fund type. Fund type r440 of grants Total award5 Indii'idudl fd. mil), funds C.'orpor2le funds Charity and Iru%l lund.q Ci)Ilective funds 4U7 2.184,873 8¥6,872 1,685.078 542,566 2,578,672 1,050,755 8,928,816 251 194 ProjLuls and partnLrship funds Aoency funds (benefiting a namLd UrglSatiOn} Total grants awarded by the full Group 15¥ 1.224 Ran proL)rammes Th'ith NewLasile and li¢Shl1 Louncils and took on the new Mayor's Opporltjniiy I,un for the Nurth East Combined Authority. 87 organisalions benefited Irom trustLc- and skills-matching, training and pro bono consultdncj.. Goal 3.. under.flandandacl c)n vilal £ssues uffeciing our communilies Published l O Vital Sign5 repK)rts. Ran our On ihe T able uotnmunily conkersdtions iniiiative engaging ncarly I,000 people. We dLliTrcred the Know Your Neighbourhood programmL in partnership with DCMS and UKCF. Goul 4." build and susiaip7 our endowmenl lo £IOOm and beyopld RcLcived b. £3m Icgucy from the estate of Steve and Christine Conwey RLLL"ivcd additional £ Im from Newcastle Building Soci¢t>' i'la dom]ant assets Published F.SG and net zero data against our responsible inwe51]nent Lommitments. Raiionalised our propert>. holdings. Goal 5.. be a shining example ofan effeciive chariiablefoundalion aLLounlable lo ihe people il.¥erves Undertook SErateg!' revie anLI dciwelopment ol. new goals bdsed on wide engagement of stakeholders. BL'gan enerby etficiLnLJ retrofil ol our i)ffiLe premises. Maintained e.xL'ellcnLc in thL BL'tter Healih at li'ork- acLreditalii)n. Inlroduecd unline booking s} stem to allow Community Org]alI0nS lo usc our mccting space for Iree.
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Strategic report (continued) Fulldraising I'he Community Foundation North Easl is reg?istered with the Fundrdising Regulator whiLh is the independent regulator of charitable fundraising. I'he approach ive take lo fundraising in the organisation mcets the requircmLTlts of ihc Charity Commission, Fundraising Rcgulator and Enformalion Cutllmissioner'5 Office. Almost all income generation aclivity is done b). Foundaiion staff directly or on our behalf ihmugh intr()duction8 made ambasdOrS and professional advi.sor%. We a150 cc)nneci Lo polential donor.q and partners thri)ugh neiThorking and by rdi8ing our profil¥ ihrough cummunicalion.%. Il'hen <md ifwe enter into comtnerLial p&rtÈcipation arrangements, we have fornial agreements in place ihat deal ¥wiih riqks to (he F()undaiion and ensure tran.8parency. We do nol= use direcl marketing, telephone, d(x)rstep (Fr nn-street fundraising; cmploy lor-profit agLncics to rdisL inLomL on our bLhall- or shdrc inlunnalion about donors or sUPPOrtcrs without ihcir cxprc55 pcrmission. Somc fundraising N¥ill u)ntilluc to bL donc for Ihc Foundation bv third pdrtiC5, for cxamplc with our I ligh ShLrifl- fundb, or funds htir a donor w'i5hL"s lo rai5c monLJ from friLnd5 or family in InL"mory ola lovud unL, ur Io 5UPPOrt a P<tiLU1ar Lausti. WL hdvc dLvelup guidLlinLs for ihosc undLrtaking suLh aLlivilies lo ensure we, and thury, drL uoTnplianl. I'hL Community Foundation North EdSt maintains rLLords ufdll Lompldinls fLLLivcd ad during IhL yLar rLUL1.Ld no Lomplaints on itb fundraising aLlivitiLs. 'l-hL L".L)mmunity l.uundation North Ldsl rLpoFls ihis infurmation nUallY lo IhL I,-undrdising KLgulalor ilrL4UL'Stu"d. Sociol investments (prei'iously shown as programme related investments) 'orthem Rock Foundatii)n (NRF) aS involved in the set up (Jf ihe North F.ast Social Investment Fund (NE%JF ) made l()an commitmcnts for 20 yLars L(} IhL primary vLhicle - the North East SoLial Invcstmcnl Community IntcrLst Company (NESIL). As part ol the winding up of NRF, its Board agreed to transfer the Loan E4und 01 £3m lo ihe Community FounLlation North Easi to ensurL conlinuily ofthc programme, with ix)Ih sides signing the novation of the I,oan F und on 12 April 2016. '1'he full value of Ihe novation of £3m was re¥vgnisLd within donations lo restriuted lunds at the lime ol the novaiion. Financial review Nei as%el% at .31 Klartyh 21125 were £103.60m (?0?4.. £1 Oi.20ml- £97. l9m of ihe assets relaled to endowment funds (2024.. £95.84m)- -I'he total unrLali%Ld dnd rea]ibLd 105ses on investmLnts ounted to £0.76m (2024.. gsains £7.61 ml. ThLrL IN"erc nLW' donations Lil the endc)¥¥Thenl fund5 duringJ Il)t year of£4.44m (2024.. £9.08m}, and fees and Iranslers out of cndi)M'menE of £fj..39m (211•4: £.1.08m). I he eYpendablL endL¥wThenl I bharity ()nl>'l is tr6ated bk thL Tru.slees &s long-lerni ¢apital to provide income fi)r future grant-maktng. Further deiails ol. perfom)anLe ol- subsidian, undertdkings dLtailed in note 21. The investments were managed ihroughout IhL year bw Lai.enowe Cdpital: Rathbone Investment Man<4emcnt and CCLA InvL'stmL"nt (gement to au'hieve maxin)um total returns <d prOldL. <igfLLd l()Unt annuall) for grdnt-makinLT C'.L'LA IiivLstmLnt Mani& gtmLnt also manaiyts funds donated to the C(Immuiiil}' l. irst-l rult a.% r¥quired bv the maich lunding agrgemeiiL. "l-here is separate profvision lor donors wish lo ini'LSi eihicallj.
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Strategie report {contitEued} Financial review (contittued) The Investment ComTnitlLe monilors the managers, performancc in rl'lation to benchmarks and other relevant indices al its quarterly meetings and meet5 With each of the managers at It annually, more Irequenily wilh Rathbone Invesimeni ManagemLnl Cazenove Capital. Clear guidL.lines hai'e been agreed in rclalion to inve4tment strale&v and these arc rcvicivcd bj Ihc Investmenl Committee. C)n the full year's perlomanLL, thL main t.und delii'ered a ioial relum avcragL cstimate uf 1.68'/0 (net of fees) which is behind the Iget return of 6 1 plus CPI {8.60/D). 'Fhe Board w'ere content wilh perforniance on the funds in lighi of th¥ difficult financial mdrket conditions. Total incomi and t'ndowmLnt for thc )Lar totalled £ 11.8 I m (2(124.. £9.40m). Thc main .£()Iirces of inLomc wtirL nLW donations and inLstMLnI incumL. Thc main resources expen(Jed WLre for Chitable grants o1-£8.82m nel (21124.. £8..32m nel). Financial review - reserves Tlic Statemenl of P in8ntyÈal ALlii'iliLs shuws IhL movement in the year ol- Ihe Q".ummunity l."oundation N'orth LL%t'% (CJr(iup} I Inre8iri¢led and KesiriLILd I,'und5. '1'hL year-end balances on ihe R¢slriLIL'd l-"und% arL' available in thLir entirety, les.q Éhe propertyy Philanthropy EIL)USL, for tulure grant-making and uLhLr dirLLI ChlIa)le xpLnditurL.. The Ilnrestricted b'unds balance dl 31 21125 ()f-£2,614,()63 in¢ludLb £1.572,062 sLt aside li)r dLsigndtLd fund.% which are solely for luluie grdnl-making, the balaiice of £1,042,001 (thL Administrative lundl IL55 fixLd lIS ot-£69,091, £972,910 S the gLnLral rLsLrvc available to nieet lulure administration and dLI'LlopmLnt LxpLnditure. The B()ard reIeWed ils risLrwL ILvLls in MarLh 21125 and deslgnaled £L)5,000 ()f IhL generdl rLsLrvLs lu support running cost.% during the 2025-26 finlia1 ycar. The B()ard sets a maximum ILvcl ofreseTh'es to alluw IhL C'.unununity F()undation North l..asi io opLfdlL fur up to 12 m()nths if. income strtiams werL bignificantly impaLtcd by market condilion.q and a tninimum levcl bed on the same scenario bui adjusting some Losts during thc 12 months and rLviews ils poliuy annually. Thc general reserve, atter adjusting for desi&)n2teA costs, amounicd lo £877,910 which is slightly above the rang¢ caleulalcd, minimum lewel of £4?6,000 and the MlMuM £8.38.OOU. "I'hL Board is cunfident that reseTh es and the overall assets of the Community Founddtiun North Lasl are sufficient 10 continue a going concem. Plans for future periods In March 2025 the Board agreed a new strate8v whivh scls out our i'ision f()r a North b.aqi ¥i,h¥re ek'ery'one can be pan of ihrii'ing, gLnerous and inLIu.%ii"L Ll)mmuniiies. T'he siratttgv desLribgs hoiv we will use our resoufLes towards our miqsi()n, based on ekidence, experienLL dnd listening w (L)mmunilies. It 1.9, subjL'LI lo rciwiew eavh year, designed to take up t(1 at least 2028 when we will mk ()ur 40th anniversary,. The slralegy alsi) S<lW the aduption ol. a rLfrcshed identily as Community. Foundation North East. INI)ile our roots are firnilj in Tjne and Mi'Lar and Ni Orthumberland, our new ne rebognises that our donors. fundingy and resedrLh cover a wider area.
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Strategic report (continued) Plans for future periods (continued) To achieve our mission and address our five impacl areas, the strategy has IhrcL pillar5 and d set ut-enablcrs with associated key perfomianLe indicators {KPls). Jnspir¢ philanthropy.. we wil I be the North F.ast's go-lo place for philanthropy, enoaging more people and busincss in g)iving) mone),, timL and expertise, and usino our knowledfte to ensure current and future donors have the mosl impact.
Be on track lo add at least £ IOM in new gifts lo end4)w'ment by 2030. Secure al Icdst £1.5m thruugh annuitl donor r¢enue funds Average 701)/o of aTUal gtanl-making from philanihropiL Lndowmcnl and rcvcnue funds (cxcluding third- party programmes) Invest in eommunities.. we will hamess more funJing and supporl to hdVL a long-tcrtn impaLI on thc challenges faLing our region's communities. CJrow annual grant-mak.ing io £ l Om by 2010 J.ever third-party programmes worth at least £3m annu211 minimuni lundinLi annually to %upport each impact area (Jruw L()relunrL'striLted %upp()rt to 650/0 Ot-t(Ital aarded annually lllflueDce change.. WL will shinL a lig)hi on our rLgion's challLng>e% dnd u.4e our knowledgL dnd nehN'I)rk.s to h1p10n aLtions whiLh bLLtLf dddrLS5 IhLm. IIOO/o uldunorSJ Pdrtners granlLLS fLFK)rting ihdt our policy and rLsLarLh initldlives importdnt. Enablers= gokernanue, people, operalions finance and Lotntnunications. IV salibfauti(In rdte dmung dunurs. ¥rdnlb¥s, sldrr dnd tFU5ILL5 6 /0 lotal return on investsnenls plus intlatic)n avera&Jed over 5 years Break-even operating budgets annually factoring in designated reserves Our priorities for 2025-26 arc as follows. Launch strategi. and rLfrLshed brdIn and nei4. communications plan. Introduce changies to unrestricted and discretianary funds lo bupp()rt strate&yiL tiinding gi)alq Delii'er a North East Roots I l(Ime¢oming series ()f events lo enbyagtr th¢ rtigion's diaspx)ra Dei'elop our policy and public affairs function Produce a ne plan to align pro bono Nvork and trainingj with the stratLgy Implement a legacy giIng campai(yn Rei"iew and implement changes to donor onboarding Complete rerroFIl ol-our oifice premi.ses ComplelL changc of our legal name rollo1ng adopiion of new operaling name RL"'7Lw risk dppetite and thL risk rL"gister RLLruit its Lrusteti 1'aLLIL'S and rLViLW appointmLnls Ot'1L-prLS]dLntS 10
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Strategic report {continued) PriDeipal risks and ullcertaillties Ihe Board rcveii'es an annual assessmcnt of risk prepared by Ihe execuiive leam and agrees steps to mandge ribk. In December 2022 the Board revIeed its risk policy for detennining, managing and reviewing the risks to hich the Community Foundaiion North Last is exposed. I'he Board has commitied lo continue to review the risk policy every three yeapi. Thi risk regisler is reviewed quarterly bv th¢. l.'inance and Resources Committee. and dny significant Lhanges reported io the Bogrd. Evcry year, the Board receives a report on risk and approves an upddled risk register. I'he highest risks idcntificd in the most recent register dated March 2025 'ere= Losin Significant asset value System brLaLh or failurc The Floard reviews Lonlro15 alrcady in placc fi)r mitigating risks and iLlenlifiLs furthcr Ircalmcnt or monilc)ring rLquirLd to mdnagc thc identified riqks. The first risk nolLd atx)vc is linkcd t() the pertorniance and drawdowii from IhL L"ommunity Foundali(In North I,.asl's endoThmLnt lunds. Thc InvestmLnt C.i)nimilt¥e m¥61s rLguldrly with thL invL%tment manager.q tli discusb and rLI'iLw PLrlornianLL l)f the tunds, which dre in.¥t¢d in linL with thL Community F'()undalion North I',dsI's InvLSlmLnl PLiliLy. 'fhc B()ard agreed a new Invesln]cni PoliLy in MLh ?023. 1.he B()ard agreed i() mainldill dn annual 60/0 Wlthdrawal from the mdin and eihiual lunds th p1 of it% 2020-2) .%trategy, deFEning Iri¥gtits ihal would prompt it t() rek'iew the wiihdrawal rate. Infldliun is slill a conLcrn tOL)ether with oiheF global issuLs and IhL Board will continue io keep these under LIu5c fL viLw. ThL sL'Lond risk 1.4 in recognition of the general risk of brLach or failure ot. %y£tems but also the overall incrL'dbLd risk faLcd by all c)rganisations ofcyber Criniti, both in IhL numblr and the £i)phi.qtlLation ofatldLk%. 'I'hL Q'.o)mEnunily Foundati()n North b.ast rebyularly [¥1¢w5 its protectii)n and other systems and hds vulnLrability' LLstS LriLd ()ut to help mitigaie this risk. 11 has rnaintained C.)"ber F.sseniial.q + accreditaiion. S) blLms drL baLkLd up regularly. Statejnent of trustees, responsibilities ThL irustees {who are also directors of Community l-.oundation EN'orth East for the purposes of companv law) are responsible for preparing the Tru51ees' Annual Report, Ihc strategic Report and the finanuial slements in aLcordance with applicable law and Llnited Kingdom Accouniing standds (United Kingdom Generally AcLepted AcLounling PraLtice). Company law requires Ihe trustees io prepare financial statements for each financial year. Under companv law Ihc Irustees must not approi'e ihe financial statements unless arL satisfied that the give a true and fair vicw of the state of affairs of the charitable Lompanv and rhe group and ot'the incoming resources and application of resoLtrLc& inLluding the income and expenditure. of the charilable group lor that period. In prLparing these financial statements, the trustees are required LO.. select suithble accounting p(Ilicies and then appli, them Lc)n%istently- obsLri.L IhL' Inethods and prinLiple% in the ('hatilies SOR[) 21119 (F'RS E02}. make judgements and estimates thdt arL rcasonable and prudenL
Community Foundation North East Annual report for the year ended 31 March 2025 (continued) Strategic report (eolltillued} Statement of trustees, responsibilities (continued) state ilhcther applicable LFK Accounting Standards comprising FRSI 02 have been followed, subjeLt to anj material departures diSLlosed and explainLd in the financial slalemenls,. and prepare the financial statemenis on the going Loncem basis unlcss IL is inappropriatc to pre5umc that the charitable company will continue in business. The Trustees are responsible for keeping adequate ULcounting records ihat disLlose with reasonable accuracy at any time the financial rK)sition nf the charitable Lompany and the group dE]Ll LnablL ihutn tu Lnsure that the finLIa1 Slements comply with the Companies Act 201)6. '1'hey are also responsible for Sareguarclng ihe dS5cI.s of the charitable Lomp! and thL giri)up dnd hence for taking reaqonable steps f()r ihe prevention and detection of fraud and other itTegularilie8. ThL TrustLL* arc restx)nsiblc for the maintendncL and integriiy of the charitable comp2ny'% webqiie. LLgisldtion in thc lJnitLd Kingd()m g)ovcrning the prepardti()n dnd dissemination ol- linancial statemenL8 may diifLr from ILg)islation in othLr jurisdiLtions. Statement as to disc105ure to our auditor5 In so fa. r ds IhL 'I-rustLiS arL awdru al IhL limL olapproving thL annudl rLport= there is no relevant audit inlomiatic)n of-which Ehe gmup's auditors are unaware- and the irusle¥s have eauh taken all sleps Ihal h¥lshL" is ubligLd lu Idkc a dirLclur ill ordLr lu mdkL themselves aware ot-any relevant audil infotmalion an¢J iu ¢siablibh Ihdi Iht audilors arL dwar¥ uL-Ihat intormation. Independent Auditors In dthurddnLL wilh sLtition 485 olihL Comp<miLS ALI 2006, a resolution for the rL-dPPI)intmLnt of AzLts Audit Sertri¥es a5 dudilor of lh¥ charity is lo b¥ prupc)seil at th¢ lorihcoming Annual Gen¢rdl Mccling. Thc Rtport of the TrustLes the StralegiL RLport were approv¢d bj the Board of I'ruste¢s. the B02rd Phil Chair oorhouse 24 September 2025 12
Community Foundation North East Independent Auditor's Report to the Members of Community Foundation North East hatre audilLd IhL financial slalements of Lommunitv Foundation Norih E,asl (Ihe 'LhdritablL Parent ompan),) and i(5 subsidiarieb (the 'group') for the .ar ended 31 MarLh 2025, whiLh comprise the Consolidated StatLmLnt of FinanLial ALtivitie.s: Consolidaied Income and Expendilure AcL'ouni Consolidated BdI<ce Sheet, Balance Sheet, Consolidaled Stsiemenl of L<h Flo5 and Notes to the Financial 8L21ements, including a summJry of significant aLcounling poliLies. Thc financial reporting framework that has been applied in thcir preparation is applicable law and United Kingdom AcLounting st<ind5, including E."inanci Reponin& 8tdndard 102 The Financial Reporling.Siundurd applicable in ihe L,K andRepubli¢ ofIrelund {bniied Kingd(Jm Generully Acccpted Accounting Practice). In our opinion ihe financial statement5-. give a true and fair view of the state c)f the gry)up'S parcnt charit)'s affairs as at 31 March 2Q25 and of the group's inLuming rLsourcLs and appliLatii)n of rcsource%, includinb? Its snclime and expendilurL lor thc ycar thcn cnd¢d- have been propLrly prepared in accordance wilh United Kingdom LtLnLrally AcLLPtcd ALLounting PraLtice' and have been prepared in a¢Lordanue with Ihc rLquirLmLnl.s of thc companie.s Act 2n06. Basis for opinion IN'L LonduLtLd our audit in aLLi)rdanLL With Internaiional Stsndards lin Audiling (LIK} (ISAs (UK)) applicable law. ()ur rg5ponsibililiLs undLr thosc sldndard.s are turther described in the Audilor's r¢spunsibililiLs for Ihc audit ()t IhL tinancial statements sectinn ol-our rewrt. 11 e dfL indLpLndLnt ut-thL group parent charilable comp(Iny in v[dLl wilh thL LihiLdl rLquirLments that arL relei'"ant tn our audil of the finanLial stalLmLnts in IhL IJK, including thc FRC'.% F.thical Standard, and we have luifillLxl our oihLf Ltl)iLal re,qtxinsibilitie.s in aL¢ordance wilh these requirgmLnt5. WL bLliLN'c that the audit e.idenCe 'e have obtsinLd i sutriLiLnl and appropriatL lo providc a ba%is for our opinion. CoJiclu5ions relating to goillg collcerD In auditing the financial Statements, we have ¢onLludLxl ihal thL trustLt's use of the going concern basis of aLLounling in ihL preparatiun of the findnuial 5tatcments is appropriate. Based on the work we have perfornied, we have noi identified any material uncertainties relaling to the events or conditions that, individually or Lolletili.elY.. Ma Last significani doubt on the ¢hariti s ability Io Lontinue ds a goino con¢em tor a period of at least tweli'e months from w'hen thtr financial slatcmcnls are authorisld for issues. Our responsibilities and the responsibilities of ihe trustL* with respccl to going Loneern art described in the relei'ant sectionb of this reporL Other information ThL CltlIL'r inlornidlic)n L(ImprisLS thL intorn]atioii included in the annual report. other than Ihe tinanLi statements. anL1 c)ur auditor's retK)rt thereon. -1 he Iru5tccs arL rL'sponsible for Lhe other infom]atii)n. Clur opinion on thL fiiidnLial statemL'nts dOL not colr the other informaii(In and, exlept io ihe exienl uihttTr¥lSL L'xpliciil}' staled in our reporL we do noi express any fonn of assurance conclusion Ihercon. 13
Community Foundation North East Independent Auditor's Report to the Members of Community Foundation North East (continued) Our rebpunsibilit). 15 to read thc other information and, in th)ing so, considLr ¥¥,hLther the oiher infomiaLi()n is malirially inconsislenl ii'iih the FinanLidl statements or our knoityledge obtained in ihe course ot'the audii, or otherwise appears Lo br m&tL'riallv misstated. If we identity such material inconsisiencies or apparent matLrial rnisstatements, we are required t() deterniinL whether ihis gives rise to a mat¥rial missldtemLnt in the finan¢ial slatemenis themseli'es. If, bastyd on the work we have perlomiLJ. we conlludc Ilial thcrc is a material missldlcment of this Other inforniation, we are requir¢d lo report that faci. Wc hai'e nothing lo report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, bd5ed on the work undertaken in the course of Ihe audil: the infomiatiuii given in the-l-rustee.4' Report for the financial year for which the finanuial Svdlemenlb ar prLparLd, whiLh includL'% the dirLclors' repcirt and Ihe stralegib report prLparcd for Ihc purFK)ses of company law, is Lonsislcnl with thL financial stalLcnI- and the Strategic Reporl and-l-ruslecs, RLporl havc bLLn prcparcd in aLCI)rdanLe with appliLablL legal rcquirLments. latter5 ou which we are required to report by exception In the light (If our knollgL undLr5ldnding ol- thL group and thL' parent charitable company and ils cnvir()ninent obtainLd in the ci)ursL' of. the audit, 'e have not idenlified maleridl misslal¥mLnls in IhL StrdtLgiu Ileport and the'l rustees, Kepurt. We have n()thingi tn rerK)rt in resp¢cl ofthe following mall¥TS "hLfl ihL' comp]l5 ALt 2006 rLquircs us to rLpurl lu yuu il, in uur vpinion.. adequale a¥L()unling records have nut be¢n k¥pl by thL parLnt Lharitablc Lompany. or returns adequate lor our audii havc not bLLn rcLcivLd fr()m branLhes not visited by us,. or the parent Lharitable company finanuial statemenis are not in agreement with the aLcouniing reLords and returns- or c¥rtain disclosures oftrusiees" rLm)uneration specified by law are not made. or we h<ive not rL.LeTred dll the information and explanations require for our audit. Responsibiltties of trustees As L'xplaiiiLd mure fully sL't out on pdges I I dnd 12, the trustees (whc) Jre a14() the dirLilors i)f the pareni hdrit&ble companj for the purp)%es ol. vnmpany la,) dre responsible lor the preparation of the finanLial statements and for being salisficd that Ihgy givL d trllL' and fair wiew, and for SULh iniernal Lonlrol tL% rh trustttes dclLrniinc is neLessarv to L'nablL IhL' preparation of financial staiemenls that are tree from material missiatement, w'hetl)Lr due lo fraud or error. Iii prepdring the financial stalcments, thL IrustLes arL rL'sponsible for assessing Ihe group's kmd th6 pareni chariLable Lompanv's ability to continue as a goingi tytJn¢em, di.%Llo%ingi. as applityable, mailers related lo goin concern and u.%ing thL &k()ing c()ncern basis L)[ accounting unless the trusteL% Llthcr intLI)d lo liquidalc the group or Llie Pdreni LharitablL companv or lo Cease operalions, or have no rLalibtlty aliLrnatiie bul lo do so. 14
Community Foundation North East Independent Auditor's Report to the Members of Community Foundation North East (continued) Auditor's responsibilities for the audit of the financial 5taten)¢nts Our objeclives are to obtain rLasonable assurance about whcther thc financial statements as a whole are free from mdt¢rial missutemenl, hethcr duc lo fraud or error, and to issue an audilor's retK)rt that includes our opinion. Reasonable assurance is a high lei'el ol assuranL'L, but is not a guarantee that an audit c()nduLled in acLordance 1th ISAS (LfK) will dlways detect a material misstatement i¥hen it exists. lIsslatementS Lan arisc from fraud or error and are considered material if, Indi.Idu&1IY or in the aggrcgate, theN' could reasonably be cxpecled lo influence the economic deuisions of users taken on the b&sis of these financial statements. A further desLriptiun of our responsibilities fi)r the audit ofthe financial blalemcn15 is located on the Financial RLporting L.ounLil's website al wmv.frc.org.uaud1tOTsrCbponSib]Iilie5. This description forms part of our Audiior's RLport. Extent to whieh the audit Ivas considered capable of deteeting irregularities, ineluding fraud. ILgUlarItie£, including fraud, are instance5 of non-compliance with laTh's and regulatinnq. We deqign procedures in linc with our rLspunsibilitics, outlined akne and on the l. inancial RLporting C'.ounLiI's wcbsilc: ti) delect material misslalemenls in rLSPLLI of irrLgularities, includinL fraud. WL obtain and update our understanding of the enlily, il5 actI.111L5, its control enironMet, and likely future Llevclcipmunls, inLluding in rclatii)n ti) ilie legial and regulatory frydmework appIlbIL and ho thL Lntity is compl12 with thal tramework. 14a%ed this UndLrsIdIng, wc idLntity' and assess the risks ol- malerial missldtemcnl of IhL findnuial stalLmLnL%, whether due t(} fraud or error, design pcrfurm dudil proLLdurLs rLspon.4iVL tt) th()se ri.qks, and ohiain audit evid¢nuL that is suifiLiLnt and appri)priale lo pr()vide a basis lor our opinion. .1 his illLlud¢s cunsidLralion ol"thL risk ol. act.s by the entity that were Lonlrary lo appliLdblu laws and rLgulalions, inLluding rdud. In rLspunsL lo thL' risk dnd irreguldrities and non-compliance with la5 and rLgulations, inLludin dLSi8llLd procedures which inLlud¢d.. traud, 'e Enquiries with management and those Lharged with governance arot]nd aLiual and poteniial liligalion dnd Lldims WLII <LS actudl, suspected and alleged IrauLI; Rcwiewing minutes ol- meetings ol-lhose chgl wilh go1'LrncL,. Assessing the exl¥nl of wmplianLL with thc la5 and regulations considered io have a direcl mdlerial effect on the financial stalements or the operations oftht entity through enquiry and inspeLlion- RLviGwing IinJJ]Cidl slatetnent disclosures and testing io supporting documentation to &8sess complianLe 11 applicable laws and regulations; anLI P¥rfOrMin audit w'otk ovL"r the risk of management bias and ()verrid¢ of controls, including testing ot'journdl entries and oiher adju.qtmenls for appropriatenes%, Iudting thL business raliondlc of SiDnificani trSactIOn% out%idL the normal Lourse of businLSS and rei'ieii'ing aucounling esiimales for indicators ol potential bias. Because ol- the field in whi¢h the Llient operates, we identified ihe following areas as those most likely to hdfve a maiurial impact on the finanLial sttLmentS-: Lumpliance with the Llk Companies Act anLI the Ch1t]e. ALt. BLuause c)f thL inhercnt limitations of an audit. there is a risk thai we will n()I deleLt all irregularities, inLluding Ihosc leddingJ to a material misslatemeni in lh¥ fsnancidl statements or non-LomplidncL' 14.ith r¢()ulati()n 'l'he risk inLreases Iht m()re thal lMPlIance with a la. or rLgulation is rem1)ed from Ihe ekcnts and tr]aLtIon. rellLLtLd in Ilic fin<iiicial statements, as ,111 be ltiss likely tu b¥Lume aarL. of iiistances of n<)n-L<)mpliaTice. lThe ri4k ol- n()I deleciing a tnaterial mi.gstalcment resulting Irom fraud is higher than f()r one re¥Liliing tri)m err()r, as fraud may ini'oli'e Lollusion, fur&JLfy', intentional omissions, misreprubLnlaiions, or the ow¥rride Lif intcrnal Lontrol. 15
ComEnunity Foundation North East Independent Auditor's Report to the Members ofcommunity Foundation North East (continued) Use of report This reporl is made solely lo the charitable parent Company'5 trustcLs. as a iK)dy, in accorddnce 1th Chapter 3 of Part 16 Of the Companics ALt 2006. Our audil work has been undertaken so thdt we might state to the group's Iruslees Ihose mallers we are required to statc to thLm in an auditor's rcpx)rt and for no othcr purposL. Tu th¢ fullc5L cxtent perniitted by law, The do nol acLepl or iissume responsibility to anl'one other than the charitable parent ¢ompany ils Iruslees as a bod>, for our audii worL for this report, or for the opinions we have fornied. Simun Brow] BA ACA DChA (Senior Statutory Auditi)r) For and on behallol- A7ets Audit gervices ChtLrCd ACc()unLtI and %tstut(iry Auditor Bulman House RLgLni Cltre liosforth Newcastle upon -lyne NE3 3LS Date....8. 1ts,..Z,i......... AzL'ts Audit SLrviLes is s trading ol'Azets. Audit SLrvices Limited 16
Community Foundation North East Consolidated statement of financial activities for the year ended 31 March 2025 Note Unrestricted Reslricled funds funds Enduwment tunds Total 2025 Total 2024 Income aJ)d endowments frotll: Donalions ILgacics 487,682 4,463,375 4,441,947 9?93,004 7,031,1144 ChatitablL" activities 62.554 4),991 Other trading autivitiL"S 29,000 2.0(K) 31,000 11,093 InvestmLnt inLome 1,295,n57 1,(Tr30,737 2J25,794 2,312,962 Total ineome and endoivtllelltS 1,874,293 5,496,112 4,441,947 11,812J52 9,401.SY) Expenditure oll: Raisin 343,457 343,457 321,82) Inveblment mandgL'mLnl LOSts 3 19,4U3 319,40J 266,-f li Chlb]l aLlivitiLs 3,22.3,308 6.766.179 9,989,487 9,401,643 Total cxpenditure 3,566,765 6,766,179 319,41)3 10.652,347 9,989,983 Net {losqes)/gains on invLStmbnls (49,000} {711,743) {760,743} 7,607,4i5 Net iDcome/(10ss) (K,692,472) (1,311),067) 3,410,801 399,262 7,019,362 Transfers between funds 1,771,24i 296,466 {2,067,711 } Net movement in funds 78,773 (1,022,601) 1,343,090 399,262 7,019,362 Reconeiliation of funds: Tolal funds broughi fonN'ard 2,i35.290 4.818,413 95,843,463 103,197,166 96,177,8114 Total funds carried fonTr'ard ?,614,1163 3.795,81? 97,186,ii3 103,596,428 103,197,166 All i)f the abui'e re,sult8 arL dLYived from ei)nlinuing orcrati()i)s. All gains and Ic)ssLs which w'erc inLurred in th¢ curreni year and prior ear are InLIude aboi'e. 'I'he LomparatiL figLJres lor eauh Lategory of funds are shokvn in ihe notes to the aLcounls (note 2).
Community Foundation North East Consolidated income and expenditure account for the year ended 31 March 2025 Note 2025 2024 Income - coutiuuiDg operations Donations and legacies 4,951,057 4,949,653 Charitable activities 62,554 45,991 OthLY trading actilI)eS 31,000 11.093 Investment income 2J25,794 2,312.962 7?70,405 7,319.699 Expenditure - contin}ng operations Grants 8.816,944 8,-322.614 Stsrt Lusts 1,121,564 1,074,263 Other Los 394,436 326,5l)I 10,332,944 9,7?3,468 Net loss on inve.8tments (49,000) (5,000) Net loss for the year before transfers and tsxation (3,011539) (2,408,769) Transler trom endowment fund 2,067,711 2,813,676 Taxation Is Ilet (deficit)Isurplus for the year (943,828) 4U4,907 The total income of £7,37U,405 ¢()mprises £1,874,293 for unresiricled Lunds and £5,496,112 for reslricted funds &s shown in ihe statement OF financial activities. The total expenditure of £10,337 944 comprises £3,566,765 for unrLstricted thunds dnd £6.766,179 for restricttd funds as shown in the st&temenl of financ?al activities. 18
Community Foundation North East Balance sheets as at 31 March 2025 Registered company number 02273708 Group 2025 (iroup 2024 Charity 2025 Charit Note 2024 Fixed assets Endowment fund investments li 96,125,181 94,836,862 92,993,304 91,571,022 Social and other investments 1,016,904 939,356 1,017,004 939,4)6 Tangible assets 12 665J41 63i,036 665J41 635,0.16 Total fixed assets 97,807,426 96,411,254 94,675,649 93,145,514 Current assets Debiois 13 ,778,9S2 718,524 1,755,723 695,445 Cash on short-tLrm dcp()sit 4,613,936 4,56n,155 4,613,9J6 4,560,155 Cash ai bank and in hd 1063,546 3,6U4,748 1,760,768 3,520,908 Total eurrent assets 8,2i6,434 8,88.3,427 8,130,427 ¥,776,508 Creditor5: amounts falling due Ivithill oue year 14 (2,467,432) (2,097,i15) (2,460,432) (2,086,960) Net curreDt assets less current liabilities 5,789,002 6,71¢5.912 5,669,995 6,689,548 Total assets 103,$96.428 103,197,166 100,345,644 99,835,06? The fuuds of the charity: End0ment funds 16 97,186,553 95,843,463 94,054,676 92,577,623 Rcstricled income lunds 17 3,795,812 4,818,413 3,676.905 4,722,149 Unrestricted income fiinds 18 2,614,063 2,535,290 2.614,063 2,535,290 Total charity fullds 103596,428 103,197,166 100,345,644 99,835,062 ThL finanLial statements on pages 17 50 were approed by the Board on 24 Scptembcr 2025 'Lre on th ir behall'bJ= oorhouse Pdul Farqu Treasurer Chair 19
Con]munity Foundation North East Consolidated cash flow statement for the year ended 31 March 2025 Note 2025 2024 Cash Ilows from operating activities: Net easb used in operatiDg actiN'ities (6,272,476) (5,617,874) Cash flows from investing iictivities: Dividends and intcrest From investments 2,325,794 2,312,962 Purchase or rixcd SCt5 {56,076) {4,423) Proceeds from the Sdlc of invcsltnents 20,975,464 45,035,581 PurLhasc of in'estmentS (22,975526) (43,264,659) SuLial invL51mcnts drawn do {126,548) {70,0471 Iyet cash provided by investing aelivities 143,108 4,OU9,414 Casb flows froffj fjndncing activities: KtiLLipL of Lndowment 4,441,947 2,082,191 Plet casb provided by financillg activities 4,441,947 2,082,191 Change in cash alld cash equivalents in the )'ear (1,687,421) 473,731 Cash and cash equivalents at the beginlling ofthe year 23 8,164,903 7,691,172 Cash and cash equivalents at the end oftbe year 23 6.477,482 8,164,903 20
Community Foundation North East
otes to the financial statements for the year ended 31 March 2025
Accounting policies
Basis of preparation
The financial statements have been prepared on a going concern basis under IhL" historical cost convention
as modified by the revaluation of listed investments and fri'ehold investmeni property. The financial
staLements have bcLn prepared in aCCordce with Accounting and Reporting bfv Charities.. Statement of
R¢commendi'LI PraLIiLe uppliLable tu charities preparing thLir accounts in aLci)rdanLe Thiih the Financial
Repi)rting Standard appliLable in the U'K and Rcpublic of Ireland (F'RS 102) {eftective l January, 2019) -
(C.hariiiis S()RP {FRS 102)), the F inancial Reporting St<U]ddrd applicable in the UK and Republio ol.
Ireland (FR% 102} and the Companies Act 2006 and the Charitics Act 2011.
The Communily Foundation Nurth Ed51 mLLls IhL dLfinition of a piiblic benefit entity under FRS 102.
The directors Lonsidei thai there arL nu mdlLfi<il unc£rtaintiL% db()ut the &)roup's ability. to Continue as a
g()ing concern.
-l-he findncial sldlLryncnts Lonsolidatc thc results ol'the Charity and ILS wholly-owned subsididFies, Joseph
iliuu¥h Charitdblc I'ru5t, l ync & Wcar b'oundation Limited and T'jne and Wear l.oundalion 'l'rusL on d
line by linu bdsis Using uon51sILnily appliLd dLcounting poliLies.
No separate S()FA has been presented foi Ihty ch11), alonL pLnnittLd by scction 408 of the Comp
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) Accounting policies (continued) d) Resources expellded All expenditure is accounted for on an accruals basis and has been classiFied under headings that aggregate all costs relaied to that calegotTr. Costs relaLing to raising funds and charitable aLtivilics have becn allocated direcl to th()se cost headings and support costs (including govemance costs) have been apportioned on the basis of staff time spenl on each area. Grant commitments (iranls paydblc are Charged in the year when ihc Liffcr is approved and conveyed to the recipient. Cancellcd grants are re-crediled at the point Ihe decision is made not to paj out the grant or when a refund has been rccLived. Fund accounting Fun8 held by the C.harily ate as follow5: lJnre8tricted genepal funL15-. thLSL funds which can u%ed in accordance with IhL LharitablL objLcts at the di.4cretion of the l)ireLiurs. Ilnrestricled dusigndlLd lund.s'. thLse are tund£ which ihe l)i16Ltors rLgd as unrLstricted becau.se thej are used lor general LhdrildblL grdnt-mdking purp()%es in the L.'ommunily E.'LiunLldliun Nurth L&%t's arLa Ot- benetil althi)ugh grdnis. mdy slill bL madL on rcLotnniendations Irom ihe dunur. Reslrityled funds= thcse funds that Lan only be used for PdrtiLuldr rLstrieted purpo.ses within the objects ot. the Lharily. Endown)enl funds are inTr'ested dnd the income from ihebe fvnds is applicd to the relevant restricted or unrestricted income funds. Ini'estment income is alloLated to the income funds on a'yolal rLlurn" basis for the Chdrity". Withdrawals Erom the end(1I4'meni fund have bLLn madc at a rate ot. 60/4, which th61)ircclors rci'iew dnnuall}' and consider lo be a reasonable total retum withdrawal rate. A total of £3 ?94,291 (2024.. £2,902,300) in exLess of investment income, a$ transferred from the main and ethiLal endowment funds io restriLted (£1,591,653) and unrestricted (£1,702,638) funds in the yedr. A separate agreement operates for Lommunily F irst lunds any gain aboi.'e indexed ddjuslLd value is withdrawn from the funds and nil as lthdrawn during the year {2024..£nil}- g) Listed and unlisted investments ListL.J inN'estments are stated at their quoted market kalue at the year end. lJnlisted In'e%[MentS are quoted at cost. FreLhold inwestment propert). is stated at the fair i'alue estimate as valued bj propertv Lonsultants. in fvlarL'h 2025 and the Directors Consider the kalualions to be reonable. Thc SC)F.4 includes the nel gains and losses arising i)n reva]uations and disposals thr()Iibihoul the l'ear. Realised gains aiid losses for the Jear are calculalcd baged on mark"Ll luL. brought fOr..ard plus anj additions in the year. bio dLpfLLiation is charsed on ink'eslmLnl properties. 22
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) Accounting policies (continued) Listed and ullli5ted investments (continued) Property Valuations Properties held within InN'cstments are held at an assessed valuation by a surveyor and are lormally 'aluLd every year. Investments are held al valudlions provided by the investment manager, whereas lislcd investments are held ai a closing value indiLaled by IhL" stock Cxchge. h) So¢i#l Investmenls SoLidl invLStmLntS Lonsist Lntircly of I0S madc to N'orth Ea.8t Si)cial Investment Communitj Interest (,.umpY {NI.-SIC'.). As Part uf Ihc winding up ot-NorthLrn Rock Fi)unddtii)n (NIIF) IL£ Bnard agreed to Irdnsfur IhL L.Odn I, und ul £3m lo Cumtnunilj Foundation North E&st 1th b()th side% .%igning ihe ni)vatinn of IhL Loan F und on 12 April 2016. At thc traiislir date £265,814 had been advanced to Nli.SIC.' and since thL transfLr, othlr £ 1.475,1190 has bLLll <idi'anLLd. NLS'I(" USL Iheqe l()ans tn invest direLII)' into I'he North I.-t SoLial InvLSIEnL'ni Fund (N'LSlTr')- 'fhc t()tdl ddvanced i)t-£1,740,()04 is qhown as a social invL"bimLnt. Thc inveslmenls are reLurLl¥d dl uust ILs5 any Lliininutioin in VdluL. Thc B()ard havc reviewed the reLciierabilily ofihe loan and in urd¥r lil bc prud¥nl, hd'l LILLidLd to pr()vidL lor diminution in valuc ot. the investmeni based on the share of ihe mosi reLenl uv¥rall fund baIlL shLLt dLtILil plus ambLr (at risk) loans not already provided lor. 'I'h¢ Iloard will conlinue Io F¢v1¥ rbLovLrdbility N'aludtion un an annual basis. At the year end a total provision of £724,000 has been provid¢LI agdinst the rccoi'urdbilily of th¢ Programme Related Investmeni. The loan agrecmcnl &llowLd for draii,down by NF.SIC of the fllnds for a period of l O Jears from the originiil agreLmLni datL of 10 DcLLmbLr 2014. Thc loans are unseLured and bear no interest. No Fepa)'ments wer¢ rLceiiLxI during Ihe 10-year loan fund pcriod as all funds were be retained in the loan tund wilh NILSII." during the invesiment period. At DeLember 2024 £1,2i9,096 remained in the loan tund. Ibe Board agreed to transfer the balance the Strategic unrestriLled Lndowment fvnLI. 23
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) Accounting policies (continued) Tangible red assets aDd depreeiation DepreLialion is calLulated to i*Tlte off the Lost of fixed assets over their estimated useful lives on a 5trai8ht line b&sis, at the followin¥ rates: Land and buildings Furniture and equipment Oftic¢ improvements Over 50 year5 20/0 and 25D/o per annum Ow"er 10 years i) Pensions l-hc c.ommunity Foundatii)n North East Me8 conlributionq on behall-c)f all staff into a defincd Luntribulion group pLnsion sLhcmL. Li)niributions are cl)arged in the period to whiih ihe). reldte. k) Liquid resources Liquid resources for cLqh flow purKK)ses con.qisl of cash held al banks in LUFrcnt short-tLrm dcposit aLLounts. i) Debtors TriidL other debtor.s are reLoL)nised at the seltlement amount duL dfi¢r dny IrddL" disLvunl oftLrLd. PrLpayments are valued at the amount prepaid sJ¥i ofany IraLte di5Luun15 duL. Casb at bK aud in hAnd Cash at14ank and In I land and Cash on Short-term l)eposil includes cash short tcrni highly liquid investments with a short Mati1rtY ofiwelwe tnointh5 or IL55 from thL ddlL of quIsItion or opLning ot.the dL'posiL or similar aLcount. Creditors and provisions Crcdit()rs and proTr'isions are recognised where the charity has a presLnt ubligatic)n rcsuliing from a pt LwLnt that will probablj rcsult in the trster ot funds to a third part! and the amount Jue to settlL thc obligatiun Can be measured or eslimatcd reliabl!. This illLludLS g)ranls payable when ihe of-ler is appr()ved and conveyed lo the reLipienL. Lrellitors and pro&isions are noni]dlly rtLo&ynised at their settlement amount. 24
Community Foundation North East Iyotes to the financial statements for the year ended 31 March 2025 (continued) Accounting policies (continued) Judgements and key sources of estimation uncertainty The prepardiion of the financial stalements rcquircs management to make judg)ements, estimate5 and assumption£ Ihat affe¢l Ihe amounts reported. I'he5e estiEnatCS dnd judgemenls are continually review.ed d are based on experienLe oih¢r Fd¢tors, including expeulalions uf tUre C"ent3 ihat are beliewed to be reaso)nable under the circumstances. Any key judgements have been detailed in the separdtc aLGounting policies applied, including notably.. Social Ini'cstmcnls- the Board amortise the &s£et balance at each year end babed on their vicw of the recovtirdbilily of IhL 5Lt. This is an cstimati()n ieLhnique applied eatyh year, based on unubscrvdblc faLtor.s, "hICh rcsulLs in the &%8et being adju%led, nomially wilh a LhaFgc bcing made to thL SOFA, and Ihc Rcslriclcd Rcserk'e balance, held in respeci olthe SuLial InvcslmLnl fund, bLing rcduLCd.
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 2 Statement of Financial Activities prior year fund comparatives UnrLslricted funds Restricted funds Endowment funds Total 2024 Income alld endo}vent5 from". Donations and Icgacies 1,599,706 3,349,947 2,082,191 7,031,844 Charitdblc activities 45,991 45,991 Other (rading aclivitiL'S 8,iO0 2,593 11,093 InN'cstmcnl incumL' 1,245.829 ,067.133 2,312,962 Total illcome and endowments 2,900,026 4,419,673 2,082,19 ),401.890 Expenditure on: Rdising) funds 321,82) 321,825 Inv¥slmLnl agLMcnI costs 266,515 266,515 CharilablL aLlivitics 3,443,038 5,958,60i 9,401,643 Total expenditure 3.764,863 5,9i8,6115 266,51 i 9,989.983 Net {losses)/gain on investmunls {5.0110) 7,612,455 7,607,455 Net incomel(Ioss) (864,837) (1,543,932) 9,428,131 7,019,362 Transfers between funds 1,335,022 1,478,654 {2,813,676} "et movetllellt ill funds 470,185 {65,278) 6,614,455 7,019,362 Re¢onciliation of funds: Toial lunds brought forward 2,065,105 4,883,691 89,229,008 96,177,804 Totgl funds earried forw'ard 2,53i,290 4,818.413 9i,843,463 103,197.166
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) Donations and legacies 2025 2024 Donations 6,644,791 5,607,666 Legacies 2,748,213 1,424,178 9J93,004 7.031,844 4 Charitable activities 2024 Other ¢harilable dLlivilies 62,554 45,991 Other trading activities 2025 2024 Othcr trading aCtItieS 31,000 11,093 Investment income 2025 2024 Dividends inlcrcst from Lndi)wnent fund assets 2,034,125 2,049.198 Interest recLivable on cash deposits 291,669 263,764 2J25,794 2.312,962 27
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) Allocation of support costs, overheads and governance Support costs and overheads have been apportioned using the basi5 of stafl. time spenl on the various activities. Raising funds Chariiablc aLlii'ilics Total Totsl 2025 2024 Support staff costs 36.336 177,251 213,587 94,45) tiovLrnance staff costs 10,217 49,841 60,058 61,198 Overhead costs. 54,920 192,561 247,481 241,964 tiOvcrnCe dirLCt costs 8,065 28,595 36.660 32,259 I n9,5.38 448,248 557,786 529,876 InLludLd in ()verhd Lo.8ts are the following= 2024 Audilurs, rLllnunLration- dudil sLrvices 16.740 15,500 DepreLiation 25,771 27,272 Costs of raising funds 2025 2024 Staff costs E97,417 19i,983 Direci costs 36,502 15,442 Support costs (Note 7} 109,538 110,400 343,4>7 321,825 28
Community Foundation North East Notes to the financial statements for the year ended 31 March 2024 (continued) 9 Charitable activities The community Founoldtion North East und¢rtak¢s its charlble activilies through grant-making. 2025 2024 Grants payable 8,816,944 8,322,614 Staff costs 650502 622,627 DirL"ct costs 73,793 36,926 Support costs (Note 7) 448,248 419,476 9,989,487 9.401,643 CJranl.£ ivere awarded in the year lo other hItiLs. voluntary organisations and individuals as follows- 2025 2025 Nuber 2024 NumbLr Other charities and voluntary organisalions 8,876,880 1,167 8.369,478 1,212 Individuals 51,936 48,2)0 41 Total new graRts aWd in thL yLar 8,928,816 1,224 8.417.728 1,253 Grants cancelled (111,872) {95,114} I'otal grant expen(liture 8016,944 ]S,322,614 A brcdkduwn of granls aivarded is shown on page 7. A lull listing of grants awarded in thc fInLIa] year can be lound on our webbiie w.COMMUnitvfOUddton.0r 29
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 10 Staff costs Slatt'cos comprise the fulluwing.. 2025 2024 Waoes and salaries 963,996 926,102 Social security costs 98,239 92,192 Other pension costs 59.329 55,969 1,121,561 1.074,263 The average number of ernployecs, excluding TrusteesOard Direllors, employLd bj the Group during the year 24 (2024: 24), full limL cquivalLnt 21.7 (2024.. 21.8)- J'he raiio ofihe high¥st salary lo the mLdian saldry 2..32..1 {2024.. 2.34=1). -Ihc uross salary in the year relating to the exeLulivc mLYnbcrs of sLrfI rL%p()nsible fnr the day-io-day managemunt of thL chltY £3n1,300 {2024: £287,299) plus £19.473 (2Q24.. £18,475) paid in employer peTr5iun Lonlributions. The Communil), I,oundaliun Nurth Last is not rLquired to report on gender Pdj gdp it 15 bLlow thc threshold for reporting. I low¢v¥r, thu BU tiled ()ul a review ol-gender Pdy in linu with thL ILgislation and has set out some of ihe inloFIlldlion for 5 April 2024 and 5 April 2U25 below= 5 April 202) 5 April 2024 MLan gender pay gap 22°/ Median gender pay gap 20°/0 None of the TrusteeslBoard Directors received dny remuneralion during the year (2024.. Nil)- 2 of the Directors received reimbursemenis for expenses during the year of £387 in iotal (2024: £1,302). During the )'ear employees '1th emoluments ovLr £60,000 Mere in the following bands.. 2025 2024 Triumber NumbLr £60,000 10 £70,000 £70,000 10 £80,000 £90.000 10 £100,000 30
Community Foundation North East otes to the financial statements for the year ended 31 March 2025 (continued) I I Investments EndolellI fund iDvestmenls- Group Deposit & other cash balances Listed illvestments Freehold property Total At valuatio At l April 2024 90,782,945 3,478,917 575,000 94036,862 Additions/movetnenl in the year 21,360,239 1,615,287 22,975,526 Disposals in the yL'ar (20.823.091) (152,373) (20,975,464) Realised {losse5}/gains in the year (1.19,518} 27,373 (112,145 UnrLalisLd (losscs)/gain% in the year (749,598) liO,000 (i99598) At 31 March 2025 90.430.977 5,094,204 600,000 96,12.S,181 At cost At 31 March 2025 81,287,409 5,094,204 1 54,1100 86,535,613 At 31 March 2024 75.207,i17 3,478,917 254,000 78,9411.434 2024 Mket VdluL Listed investments are detailed as follows: Lllarket "alue UK tr'ixed Inl¢re5l 4J91,725 4.433,557 UK bquilies IOJ81,696 13,534,446 Property 1,474,333 1,455,341 Oversekis iKed Interest 3,182,944 2,452,158 Overseas Equities 47J69,751 44,656,871 ColleCtie Inveslmenl Schemes 18,906,622 19,819,033 Other 4,723,906 4,431,539 90,430,977 90,782,945
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) I I Investments (continued) Social Investments- Charity. and Group Loaned amounts At l April 2024 .614.3i6 Advan¢es during? the year 126,548 Repayments At 31 lArCh 2025 ,740,904 Provisions At l April 2024 675,000 Provided Liiainst during the year 49,1100 Pr(Ivi%i(In released during the year At 31 March 202.5 724,000 Net loaned amounts At 31 March 2025 1,016,904 At 31 March 2024 939,356 Endowment fund investments- Charlty Deposit & ther cash balanees Listed investments Freehold propertv Total At valuation At l April 2024 87,517, I05 3,478,917 575,(1)O 91,571,022 AdditionS/moeMenI in the }'ear 21,360,239 1,615,287 22,975,526 Disposdls in the year (20,823,091) (152.373) (20,975,464) Realised gains (losses} in the ye (139,518} 27,373 (112,145) Unrcalised gains (losses) in the Jear (615,635) 150,000 (465,635) At 31 Illarch 2025 87.299,100 5.094,204 600,000 92,993J04 At ¢ost At 31 larCh 2025 78,5J7,692 5.094.204 154,000 83,785,896 At 31 March 2024 72,4i7,8011 -3,478.917 2.i4,000 76.190,717 32
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) I I Investments (continued) 2024 NqarkL't Value Ivlarket Value Lisied investments arc detailed as folloiis: UK Fixed Interest 4,391,725 4,433,557 UK Equities IOJ81,696 13,534,446 Piopety 1,474,333 1,455,341 overse Fixed lnlere.st 3,182,944 2,452,158 Over5ea5 Equities 47,369,751 44,656,871 CollLctive IneStment ,Schemes 15,774,745 16,553.193 oihLr 4,723,906 4,431,539 87.299,100 87,517.IOi OthLr invcstmcnts - Charity" Llnlisied inveslmenls At C05t and valuation Al l April 2024 loo At 31 MarLb 202) loo lJnlisted investments hcld b!. the charit)w rclate to a £100 (2024.. £100) ine$1Cnt in the subsidiaTh' company Tjne &. Wear I'oundation LimitLd at cost. At 31 Mar¥h 20?) ihc Lharity ow'ncd all of. the ordinary share Lapital, consisiing of l 00 ordinary shares, of'l'jne & Wear Foundalion Limilcd, a Cotnpany registercd in England and Wales whiLh raises funds through fundraising ei'ents. The total funds made awailable to be dra'n down by NESIC were £3,000,000 for a period of 10 years to December 20?4. At DeLembLr 2024 there a5 an undrawn balantie ol'£] ?59,096 on the loan fund and the Board abTrreed lo transler these fund% lo the Strategic unrestricted Lndom'mcnl lund. At the i'ear end ihe restriLted reseTh'e balance a5 £1,016,904 (note 17112024= £2,3?5,1)00) which is the iotal amount of funds adi.cL.d of £1,740,904 less the aggregate amortis&tion to date charged against the restrietcd fund. Reali_qed gains and Ic).qse,8 are LalLulated based on the market i'alue brought lonvard plus additions in thL }'eiir. Totd] net realised gains calculated using hisloriLdl Lost ii"'as £1,798,707 for the lull gri)up (2024.. £4.196.740). Nu singlL inTr'Lstsnenl a¢¥ounts' lor mole than 50/0 of thL' endowment fund ini'esthients. 33
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 12 Tangible fixed assets Croup alld Charity Land & Buildings Furniture & equipment OIYILe improi'e- ments Total Cost At l April 2024 7iO,000 81.044 49,890 880,934 Additions 9,355 46,721 56,076 Dispi)sals (6,417} {6,417) At 31 Nlareh 2025 750,000 83,982 96,611 930,593 Accumulated Depreeiation At l April 2024 138,750 73,50) 33,643 245,898 Cliarge tor the year li,000 4,61) 6,li6 25,771 Di.spa8al.q (6,417) {6,417) At 31 March 2U25 153,750 71.703 39,799 265,252 Net book value At31 March 2025 596,2iO 12,279 56,812 665,341 At 31 MarLh 2024 611,250 7,539 16,247 635,036 13 Debtors Group 202) tiroup 2024 Charity 2025 Charity 2024 Other debtors 1,707,521 651,232 1,707,521 651,244 Dii'idcnds interest receivable 71,431 67,292 48,202 44,201 1,778,952 718,524 1,755,723 695,445
Community Foundation North East Iyotes to the financial statements for the year ended 31 March 2025 (continued) 14 Creditors: amounts falling due within one year Group Group 2024 Cbarit). 2025 Charity 2024 Other Lreditors and dc¢ruals 514,024 433,071 514,024 433,071 Tation and Social security cosls 26,177 24,646 26,177 24.646 Grants payable 1,927,231 1,639,798 1,920,231 1.629.243 2,467,432 2,097,5 li 2,460,432 2,086,960 15 Taxation A.8 registered charilius, IhL Q.ommunity FoLtndalion Nurth East, JosLph Brough ChIld61c Trust and Tyne and Wear l.oundalion I'rust are entitled iii th¥ LxLmption.s tri)m taxation in rLspcLI ol inL()me dnd capital gain% retyeivLd lihin LdtL¥oric% cai'ered by 5505 InLomL dnd Corporation 'I't5 Act 1988 and %256 Tdxatic)n ulC.'hargblL (Jains Act 1992, lo the ¥xlLnl that the inLI)melgains reL¥iVLd arL applied for chariiable purpobLS only. 'fhc}' are tlieretore nol nunndlly liable tu UK Income .1 , CoryK)ration T&x, or Capitsl (Tains'l 2025 2024 Corporatii)n tu payabl 35
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 16 Endowment funds The expendable endowment fund is treated by the Directors as a long-lern7 capital fund to provide income for future grani-making. L.ndowment dunations received are allocated between unrestricted and restricted funds in aL¢orddnce with the polic). for each inLome fund. Joseph Brough Charitable Trust Tyne and Wear Foundation Trust both hold pemianently endowed funds. Group Charity At l April 2024 95.843,463 92,577,623 I'ransfers between funds: 'I'ol&l rLlurns cndoMqnLnl withdrawal (3,294,291) (3,294,29 E) -l-ranslcrs lo LndLiwmcnt Irom income fi]nds 1,285,517 1,285,517 LxLcptiunal withdrawal from tindoTnCnt tunds (58,937) (.f 8,937) NLt inLumc bcforL trferS 3,410.801 3,544,764 At 31 Tr1Arch 2025 97,186553 94,054,676 I'hu Cummunity Foundation North East (Charity) operates a total returns invLslmLnl slrdiL'gy and %'iihdrdWS inLumL from thL Lnd0mlnt funds at a rate ot- AO/o per annum 10 Lrcdit inuomu lunds tu pay for grdnls and running Lusls. '11]L diffLrLnLL bL"tween the actual endowment income received on lh¢ inveslments and the lolal withdyawdl figurL £3,294,291 is Sha'n as a transfer from the endowment lund. A withdrawal of £6",120 was made from thc Jercmy Beechdm Schools Fund, £41,873 from The En]d Blyton b'und for Sefven Stories &nd £10:944 from the IY and Gilbert PuTh'is Fund, all of which were used to cover granl-making commiimL"nis during the year. 36
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 17 Income funds - restricted Thc Communiiy Foundation North East rcceiNes inLome and donations boih for general charitable purwses and also for more specific areas and issues. All grant5 are approved by the Board in consultation ith indii'iduals and Companies ,hO ha&'e set up funds ii'ithin the Communill Foundation North F.ast for grant-making. Funds are deemed Lo be restricied either il- they havL' been donated for a speLifi¢ purpose or appeal, oir if the donor ha.% made a requesi that ihey are applied in one area or field. Since ihe year end the funds in deficit al 31 March 202) have received sufiicienl funds to return them to credit. Oiher outgoings & transfers At l April Income 2024 & transferi At 31 LTrlarcb 2025 Grant,4 Frank ALfielol Abbot Memorial Grants Ak7.0 Nobel InlLrnaliunal Pdint Ak£u N()bLI Iniemational Paint Community l.irsl Amcc LeL)ac)' and F utures Asian Stuart Ayre Nancy Barbour Awar JLrLmy BcLchatn SLhools Bellingham LILrwiLk ALddcmy Endowment BlackL'tt Family C;ommunily 946 946 1,100 641 1,100 (6) 4,053 4,700 3,256 618 7,085 5,612 1,8115 5.387 6,35R 8,OOU 4,000 I,X05 2,341 2,230 2.633 447 (1116) 7,-341 8,020 855 (70) (263) 2.500 16,316 8,712 278 3.631 2.500 1,410 EDF Energi. Blyth orrshi)rtt DetnonstraluF Wind Farm Community Benelit Lnid Blylon P und for seven StoriLs Bowey c.ommunit> F. irsi Ilon & LouisL BowLy Grassroots Carulyn and-l-ony Brookes BurnLII Comtnunity First LawrenLe Campbell Community First Canford Audio Chapman Chronicle Sunshin Community ALLeleralor Fund for Northumberland Community, Aeeelerator l.-und for TynL'side CommuniN Accelerator Fund for LSIde Corninunity. c.hest (IlK£I)F ) The Community Infrasiruciure Ltik? (L'IL) Sir Tom C.'owie Abigail &, qtephen Crdmpton CrcLheMobile Carried tOrard IU,629 76,740 78,635 6,976 1,758 87,925 87,925 564 2.484 11.871 3,387 12,434 5,700 171 2,649 5?8 24,189 2,414 3,881 {1,232) 1,213 10,391 2,414 685 5,647 100,000 7,755 loo,000 11,690 15,000 15,0(10 20,400 20,400 15,000 5,000 (io,01)o) io,uoo { l O,(K)O) 56.972 2,119 756 10,166 256,630 258,149 70,224 2,285 5,098 581,584 274.977 7,500 27,670 141 264 168,6iO li,01)O 638,424 31,140 37
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 17 Income funds - restricted (continued) Other oulgoings & transfer5 At l April InLome 2024 & transfers At 31 Mareb 2025 Grants Brou ht fonvard The I,ouise Dalion Dunc & Sarah Dav idson Pamela and Di)roth>' Denham Pamcla Denham Community F'irst Pamela l)enham Grassroots David DoLkra>'s Wcst Lnd Young Peliple's Drl Jar AndrLW and Charlotte l)ixon 'I'he Sir Cseorge Larle BLnLvolent 'I"he l.'dwin JLihn LdS)'dorchik TravLlling SLholarship b".'vangelical Expre%% Enterpri.8e FARNF. Ddvid &- Gitta FdulknLr Fausta and Ro8eniary Cunimunity First FerL)uson8 ol. Rlyth l'ogo Cummunity F'irst 'l-hL GalLshLad VCSL l)ai'id tsuldn]an AwarLIs Allison GrLLnlLLs Continuation The EDF F.nergy (ireen Iligg Wind I'artn Cummunily BLnLfit ThL ÈDF Encr&N' RcneI4'ables Barmoor Illindlann Community 13en¥lil Jdckie l4aq Fund for Scotswood Ilenderson Family Ho'man -Iraiwelling Scholarships Joy &ligginson Fund for Children North East Hukey Cokcy Conimunity First Iloult Famil) Community. Firsi Hoult Family Cir&%.qrools The HunlerPemberton Community. First JesDesStat-f RIIF. Ren¢ab]eS LIK Kiln Pit Hill Wind Farm Comniuni Joyle Trust JosLphs F'dmily JPMJr¥an kellett arried foN'ard 256,630 1,626 2,272 {7) 581,584 2,828 5,846 2,930 638,424 3.750 8,165 31.140 168 650 704 (47) 629 484 484 8,181 405 1,13 43,938 1,974 1,289 34,050 1,85U i.ono 18,069 529 1,420 28,OtK) 2,800 25,200 13,502 19,734 ,621 72,770 2.038 5.456 7,973 1,118 22,938 2,041 12,000 24,618 6,9)8 3,089 2,739 59,685 1,079 30,023 3,000 486 7,359 7,000 84) 651,000 28,267 5,833 612.129 28,267 3.0(X) 3X.871 2,833 40,545 40,806 24,934 3,600 52.817 95,023 3,209 3,155 7,408 89,728 2,252 1,412 9,710 92,2i8 8,157 84,336 5,461 4,567 7,285 9,833 2,295 2,29) 665 2,479 3,100 44 3.306 2,204 2,574 5,499 2,574 26,107 12,602 1,262 4,258 2.317 129.794 -li9.793 710,820 1,9i6.399 23,052 4,000 1,000 2,373 39,757 261 6,575 40,971 58J,lUI 448.616 2,033,215 3¥
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 17 Income funds - restricted (continued) Other outgoing% & transfers At l April Income 2024 & transfers At 31 l¥larch 2025 Qwrants Brou ht forward Kerry Communit>. E4irsi Endokvment Kert). GrSr0()tS June King Latlerford Lendrum C'ommunity First Capi. C.1). LLyland Lindcn Community First l.ocal I.n1r0Mental ALtion GLDrg)c L<)Lgie The l.ady B¢llj and Sir I,awrLnLL Martin The Mayor's Opportunity Gri¥Lir MLClelland Community 710,820 1,956,399 2,033,215 50,903 583,101 280 118 ,188 3,105 3,780 690 15,014 3,884 1,468 3.223 3,781 1,763 749 9,722 3,073 1.073 6,838 2,1100 13,000 1.000 2.338 3,048 2,100 15,702 1.206 14,960 2,250 3,790 1,056 5,349 13,04) 234,678 9,915 234,678 8,479 804 804 luor Alan Morse {irrOOtS Ndddra SislLrs Nurth .%ld5 Wind Farn) Community L4enefil N&sh NF.F CJrassrooLs NL'I. C'.OFulldvirus Appeal Newcastle Culture IneStMent NeTh'castle l)i.qpeT]sary RLliLf in SiLknLSS NFIS North r'.asl antj North Cumbrid NorthLrn Cancer Alliance orth I',1 Culiurdl LLarnin&' North Last Endow'ment lor fu.SiLal 'fradilions North East l.'und for thc Arts The North Easi R(x)1s North El Roots Homec4)ming North F.ast Souial Invcstment NorthL'rn Angel Fund for BeNiLk hlorth 'I-yneside Northumberland CJroup Northumberland FI] Sheriff Awards. Northumberland Village Homcs Trust 'orthumberland 11-' ildlife Trusi Out & Ab()ur llJ¥ PgIler-l-ruSI Aniic &. David Parker Carried fOr'ard ,643 ,200 ,643 1,200 164,069 {695) 3,124 190,324 9,769 I,614 1112,697 9,074 3,740 17,142 154,5)4 9l)8 10.42) 622,620 611,310 22,500 (765) 723 3,980 2,000 2,703 102.7) I 8,920 29,556 8,000 9,341 63,8)4 64 {856) 7,624 5,331 99,274 6,273 6,632 74,734 iu,000 R2,213 6,000 61,336 1,684 5,963 107.297 io,(x)o 1,016,904 5,375 2,325.000 1,308,096 9,954 25,189 1,833 32,362 20,598 ,833 39,699 14.545 95,425 88,088 30,608 Illi,006 71,OIM) 29,346 3),268 2,6) I 113,240 1,776 6,813 54.3,101 9,750 80,0011 6,058 8,3)5 3,508,784 4,200,013 106,074 10,000 (183} 72.200 81,7iO 15.125 8,1100 462,589 5,413 2,588,112 3,64? 517 1,478,168 39
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 17 Income funds - restricted (continued) Oiher A¢ l April Income 2024 & tran5ters ouluoinos At 31 l¥1arch 2025 Grants & transfers Brou hi Forward PartiLipalorv Grant-making Fund- BldLk, Asian and minurilised ethnic communities PartiLiPdlory Grant-making F und - Sunderland Patch PLa CJreen B()at Community First Pen & Palette C'lub Fund 1th1 the North l.a511.und lor the Arts Pcrcy Fdmily Philanthri)py House PlaysLhLmLs Platien Familk C.i)mmunity F'irst Purt OI-L j'nc Prudhi)e l.eague i)f Friends GLolfrLy Ann Purvcs Ivy CJilberl PuTh'is liay Wind I,arni Small Ciianls PrLigrdmmL RLadTn&n L'.ommunily I,irsl RLad Family CJrassrooLs c.arrie Ileay CTrassrc)ols lii..l.'l)S C'.ommunily I. irst RF.F.DS (Ir&£sronLs Riddell l.dEnily C.'ommunitv F irst Riding Cirange (JrSrOUtS Ringlons Communitv F'irst Rivurbdnk Je R()bertson Alnwick Brian Roycroft Small Family Spriggs Family Communii 3 508,784 4,200,013 3,642,517 1,478,168 2,588,112 100,000 4,OtN) 5),500 6,000 42.500 (27,520) 5,035 39,107 14.657 5,000 19.000 6,587 692 1,003 27,528 34,000 (5,469} 1,556 4,881 749,893 7,495 4,634 8.881 2,8iO 14.300 3,340 (538) 749,893 2,269 103.575 107,801 ,000 29,391 6,839 40,1100 -3.54) 2,667 1(1,945 28,293 4,000 37,098 2,667 (52} 473 10,997 473 106,648 3,393 67,361 3.786 57,1)02 10,000 4.OUO 107,007 3.179 20.321 158 169 30,9)2 14,368 3,129 20,000 13,719 3,000 28,273 807 3,298 760 6,676 12,847 69 18,965 7,919 IU,312 4,3 18 17.906 7,500 13,376 4,387 ,500 319 7.095 9,783 ShL)hba & 'frikoli Sri8-.aslava Community, birst Sunderland Industrial & Reformator School Suz Grassroots Taylor The Glasshouse Iniernational CcntrL for Music The south Ti"neside Know Your Neighbourhood Third Sector I'rends 'rhi)mton family Grassroois 'I'in} l.,ifv'es T)'nL & Wear Flieh ShLYiff Awards ClLd foTh'ard 511 198 500 209 3,056 2,061 6,680 1,370 1,600 19,404 1,390 3,661 22,500 3,036 3,584 678.953 678,953 16,382 44,473 2,6)4 576,628 10,11110 3,858 1 %3,834 577,337 4),1100 31,953 (16.?80) 9,473 1,567 153,834 4.849 51,338 4,619.538 6,117,84i 51,000 5.592.768 2,652 3,594,899 40 I,i49.716
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 17 Income funds - restricted (continued) Other outgoing5 & transfers At l April Income 2024 & transfers At 31 Trlarch 2025 Grants Brou ht forward Tyne & Nl ear Fligh Sheriff Community First Tyne & Wear (irassroot5 vick F Cirassroots Virgin Montiy Vildl Gateshead Vital Newcastle Vital N(irth l ynLside Vital Northumberland Vilal Suuth TynLsidc Vital Sunderland Wairing W'ell/Preparing Wcll l'cd Weekes The Well¥slLy "I'rusl ThL Wclle8ley Tru.ql Communily I, irst ThL 1989 Willan C'.hariiable 4,619,538 6,117,845 5 592 768 1,549,716 3.594,899 279 1,207 4,119 6,6)( 2 5,132 ,990 15,993 1.287 1.975 244 11,863 (1,723) 809 1,342 3,460 7,396 5,232 481 607 2,549 1,418 13,582 7,788 2,300 28,162 2,600 6,161 506 2,576 ],-383 10,924 23,093 1,3 lu 6,303 3,)32 4,747 244 18,976 24,195 12,813 279.930 5.690 234,012 io 20,000 9,500 2.985 3,482 -3i,-157 733.233 2,241 4,890 33,982 702,817 I,o(10 4,5011 68,5nll 39,916 Mdrk Idn Wilson Family CH li"'i)od WomLn's Women's CotnTnunity I, irsl Yuun Mu%iLidn's Total Community Foundation North East JosLph Brough Charitable Trust lyne and ity'ear I'oundation l-rust Tyne & Wear boundation 4.226 3,872 8311 6,925 6,400 2,754 4,722,149 7,242,497 55,597 62,295 6,674,0116 43,933 1,613,65S 30 3,676,905 73,929 40,697 19,783 15,424 48 45,008 (30 Total Grou 4,818,413 7,324.575 6,733.443 1,613,733 InLnme and tran.sfers includu LY¥dils L)f £1,591,653 trstirred linm the main and Vthical Lnd0.ent runds ILI dislribute as inLome on a l()tal retums basis and £2J6,8 IU of other tr¥J]sler.4. OthL'r outgJoings include transfL'rs between funds ol'£1,531,997, amortisaiion of Social Investments ot'£41),000 and other fund expenses of £32,7.36 The Womcn's I'"und includes inLome Irom F.'ausia and Rosemarv Community First fund, Pamela and Durothw Dcnham fund and pz. fund. Brian Roj'croft fund inbludL'S inLome from thc TLssa Hide fund. l.ocal b.ni'ironmenlal fund includes inLome Irom and Gilbert Purn'is fund. PZ fund and Sandra King Rainy Dal. funLt. Eligh Sheriff of Northumberland l-outh fund inLludes inLome from thc Burnell Family and C'.ommunity First funds. 3.795,812 18 Income funds - llnrestricted As 'ell as a general administraliNe unrestricied fiind lineludcd bLlI)w for compleiene.%s} Ihe Communil> Foundati()n N"ilrth FASI hi)Ids ihe 1.ollol.Ing dLsignated funds iihich the Directors regard as unr¢strictcd beLdU%L ihLy arL usLd for gLiieral Lharitable pur)se% in the Community F-.oiindalion N'orth F.ast's area of benefit althi)ugh grants. ma}. Slill be made on reL4)mmLndation_q Irom the di)n()r. .1 he lunds are lo be used for gr¢Lnt-Inaking grants awarded throughout the }'Lar M'hen eon]tnittees InLL't and Inake r¢LomtnLndati(Ins to the Board. Sinie the year end the ndS iii dcfsL'it at 31 MarLh 2025 hai'e receiied sullilieni funds to return them io creLlil. 41
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 18 Income funds - unrestricted (continued) Other oulgoings & transters At l April 2024 Income & trSfe At 31 March 2025 Grants Adder5tone 11,877 1,223 3,187 25,001 11,500 377 2.346 4,135 (102) AJM 1,123 7,368 (405) Anon)'mous ApplLtrec A.qhington Communily Dcw"L"lopmeni Tru5l Bdrley Hill Barne5 Chrislopher Beadle Charles Robert Hell John BLII Bellway Sara Allxdr8 Bcrn%tonc Bon&8 Machine C()mpany Ron and l.uuise 13owLJ' Dawn Brown SLephen L4yLr5 The Muriel C.ainpbell Carr-l.'Ili8c)n C'.harilable-I rusl Carroll %dvauc Caru Lllly"salis CommuniEJ Investmenc StLWL & ChrislinL C()nk'cy Daphne & Martin Cookson Iloland C.'ookson I'und for the CharloltL StrakLr ProjLLI Iloland 0k5vn Cummunily LuquLI Co.st-ol'_living Cro/.ier Curtain PAIiP John D F.ndowment Dickon 'frust Elgon Fogo George and Pebgy Adrian and Ingrid GiiTord ThL Gii'ing Network mgaret dnd Dorothy Gordun Memorial Groi'es Family Michael and Christine HeppLII Cynthia Hoare Bill and May Flc)dg5()n I'he Flokcy coke {Ihdl's 'hai it's all about) I'Anb(>n Famil>, If onl Larried forward 6,420 24,698 io 1.945 3,696 3,805 8,714 5,225 14.597 64,417 2,944 5,053 1.844 37.474 1,421 8,044 1,572 21,755 6,11)4 iuo,ouo ,8911 2.780 3.851 8,616 4,000 26,435 40,180 926 1,899 107 1,288 (280) 15.868 2,944 63 2,700 63 24.727 33,096 3,810 2,656 14,639 8,100 1,800 52,113 1,42 12,880 4,764 22,500 700 10,725 3,980 2,500 3,389 7¥8 484 (225) 66,000 1,900 l50,UOO 11,000 23.000 (15) 601,915 21,543 194 {5) 763,321 11,406 21,543 5,321 4,773 9,900 69,653 2U,832 69,653 17,8iO 4,211 1,556 (452) 4,211 3,375 3,-37i 5,289 5,289 47,041 13,233 73,627 1,104 34,108 5,697 1,214 22,654 1.995 1,451 {1,233) 1,496 1,709 3,538 290 9,165 55,311 15.400 69,675 (6,275) (716) (2,?81 } 2,600 6,180 4,235 1,504 10,699 5,000 29,637 5,000 20.146 974 497 226 1,254 5,467 1,800 5,1100 (49) 693 5,629 3,265 28,512 16,829 3,000 111.798 12.000 5,894 17.714 3,372 543 2,000 3,481 2,568 4,007 2,761 1,520 714.864 4,000 2.700 1.520 793,5)9 2,629 888,364 76,896 732,773 42
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 18 Income funds - unrestricted (continued) Other oulgc)ings & transt-ers At l April Income & trunsfe A¢ 31 Mareh 2025 tiranls Brou ht forward Sir Jdmes Knott John Laing il liam I,eech Charity LLLLh ChallLnge Brian Lewis LindLn Family FB & PFB Li)ugh Grigor MLC.lelland Dais) Mr Maudsldy l llY G.% May Family Mclntnsh Milburn Bricl Muckle l.l.P Naj lurs Gavin BlaLk N'ewca%tle Building Sucieiy Community F.mma Newton Nurth Ldst BrLwLrs N()rthLm p()erEr1d Northumbrian W<lter openca.st Charilable Pdllinsun EstatL AgLnts PldttLn Fdmil). PriLewat¥FhousuCoopers PrimL Proudfoot l.amily P&G Guy RLadnian endowmeni mailhe Ridley Ringtons Rolls-Ro)'ce St CuthbLrt-'s John & Barbara Sadler & Jeanette Henderson Jolmnie & Tricia Smiih and Famil Barrv & Faga Speker Spriggs Famil), Squires Foundation Shi)bhkt and I'riloki Srivastava Grassroots Star The Temple Tess Bri<m & Margaret Thompson Tre¢line N'aux 'ard Hada"a CarriLd forw'drd 888,i64 714,864 2,172 5,165 21,298 3,134 793 559 2,172 732,773 4,896 17,256 2,226 82 295 9,240 34.966 2.080 1,1157 1,975 1,554 10,061 35,554 2.360 3,000 3,000 82 106,993 102,662 14,210 29,?29 2,363 6,811 1.686 19,884 65,712 5,032 107.326 86,951 17,729 27.479 (38) 14,951 24,971 3,830 4,220 286 1,740 10,(K)O 6,476 6,250 2,2iO 1,500 18,090 51,-lYO 4,750 19.140 2,743 14,401 19,061 3,025 28,189 5,182 975 13,981 8,026 141,059 5,028 6,270 K5,904 1411,866 6,000 9)9 27,423 4.210 3,128 1,177 12,862 4.117 28,708 1,500 1,611 199,588 2,561 (1,746) 2,172 (422) 105 C)74 3,224 14,500 162,1139 1,500 145.771 3,000 $6.933 104,299 1,450 172,088 2,924 23,214 626 (794) 130,037 4,483 512 2,315 (i) 148,277 1,863 170,731 1,454 56,561 128,362 1,259 58,832 2,594 2,099 12,938 58,321 (279) 2,100 2,312 5,826 7,400 738 83 662 192 (2,028) 4,478 1,240 I,298 [7,115 2,000 5nll 2,000 i u,000 2,561 1,402 (510) 3,611 1,476 1,463 2,843 9,832 3,500 6,000 806 7,771 500 8,334 3,086 1,563 3,419 6.000 1.563 3.500 3,000 2,420 1,3?3 218 1,487 1.382,335 1,242 4,157 4.393 7211 145,712 14.798 1,936,013 l 5,700 1,900,196 1,272,440 43
Community Foundation North East Notes to the financial statements for the year ended 31 March 2024 (continued) 18 Income funds - unrestricted (continued) ()ther outg()ings & transfers At l April 2024 Inuome At31 March 2025 Grants transfers Brou hi forward laikin Family 1,3142,335 6.297 1,532 322 44 6,306 1,936.013 28.889 1,334 1.386 13,463 10,776 4,101 1,150 16,0311 4,513 1.900,196 35,186 3,000 14i.712 1,272,440 (134) 1,708 6,507 4.582 4,101 Ml'elch l.amily Wide ()pen Road Willis C'.hdFitable mlan Winship The Lucy Win.%kell Ml'intcr FaMlY Robert Wood Trust oihcr gLnLrdl grant-tnaking rund5 Total deqi8nated funds Administratil""L fund Total C.ommuDity 14 oundation North East Total Cyro 7,000 12,500 I,liO 16,030 2,496 5,757 7,774 233,027 24i,253 1,6.15,620 2.262.908 899,670 1,6ll3,917 l Oi,94_3 2,0143.501 27i,084 1,572,062 1,042,001 242.965 1,461,i86 2,53i,290 3,863,82i 2,535,2l)O 3.8().3.825 2,083,501 2,08.3.501 1,701,5il 1.701,551 2,614.n63 2,614,U63 IIiLome dnd transters include £1,702,638 transferred Irom ihe main and eihiual endL)wmenl funJs to distributL as incomc on a total returns basis and £286,894 of other transfer8. Other oulgoings and iransfers consist of £218,2X7 transterred bctween tund.s, £1,121,564 .sta*l' costs, £34,553 designaled lund expenses d othLr nLI a(Iministrative cusls of £327,147. A number ol- funds ¢onlribuie to the C.'ommunity Foundatioin North East's guneral unrestriLled grant tunds, including CrosshatLh, Crozier, .1 ony F'ollows Legauy, lan and Jane (iregg, tireggs plu, Sir James Knott Trust, Miifor(L Esmee Slattery, Templeton, Three Valleys, I'olent, 'I'yne Tees'felevision, and two anonymous funds. -I'hrec funds c()ntribute directlj to the administratie fund, Ronald Edard William Murray. 13rian l,Lils dllLI Hadriaii Trust. In addition tu the funds listLd in rcstriLled and unrestriLted funds there are 5 acom type funds dl the }'edr end. a number ol- w'hiLh LurrLnily donatL thLir inLomc to other funds and they ,111 appear in the above anal)'si5 onie the) reaLh malurity". 19 Analysis of net assets between funds Group Unrestricied tiinLIs ResEricled EndO'men[ funds funds 2025 Total Investments 1,016,904 96,1?5,181 97,142,085 l-angible lixed assel.% 69,U91 596,250 665,341 Current assets 3,0lf 599 4.1 i9,463 -061,372 8,2$6,434 Curreni liabilities 1490,627) (1.976,805} 12,467,432) Toial nel assetb 2.614,OC)3 3.79i.812 97,186.553 103.596,428
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 19 Analysis of net assets between funds (continued) Charity UnrcslriLted funds RestriLled F.ndowment funds nds 2025 Total Investments 1,017,004 92,993,304 94,010,308 T<mgible fixed assets 69,091 596,250 665,341 Current assets 3,035,599 4,033,456 1,061,372 8,130,427 Current liabililies (490,627) (1,96)I,805) (2,460,432) TntELI nel ass¢ls 2,614,063 3.676,9U5 94.054,676 IOOJ45,644 20 Pensions The c.ommunity Foundalic)n North I,ast Lu)nlributcs tc) a defined ciintributiL)n group pension SLhLmL lor all %taff-. The as.sets ol- the suhemes arL hbld SLPdfdlLly from thnse ol- the Communily I,ouiiddlion N'orih Lt in independently administered fundb. 'I'hL pLiision LhargL repre%ents coniributilins by IhL Coinmunitj Foundation Xi '"orth b.ast to the fund5 and DuntLd ti) £59,329 (2024.. £55.96)( ). 'I'h¥ dmount Outstding) in contribution.8 at.3 l March 2025 nil (2024= £974). 21 Subsidiary company and charities lknese linancial slai¢m¢nts aru cot7solidated to include the financial iransaclions of thL following as required under the %laiemenl ofR¥LumrnLndcd Practicc= lyne & Wear Foundation Limited - wholly owned subsidiary Joscph Brough Charitable Trust - sole trustee lyne and Foundation Trust - SOIL trustee As Pcrnliited by seciion 408 01 Ihe Companies Act 2006, and by paragraph 422 of the Statement of RL'commcnLled PractiLe 2005, no scparate Lompany Statement of Financial Activities ha.s been prL'sented for ihe Ci)mmunily Foundation NL Orth F.ast MJiLhin these financial 8Lqtements. The Company's gross income for the year w'&£ £11,730:274 (2024.. £9,304,923) its nel income for ihe year £510,582 (2024.. £6,683,309) after the dLduLtion of losse5 on ini'estments of £i77:780 and bad debL proi'ision of £49,000 (2024- gains £7,318:410 and bad debt proi ision of£5,000). T'he Communit)" Foundation North F.ast 0MS the whi)le of the issued share L<lPltdl i)f Tyne & Wear F'oundation LimiteLI, a LUmP¥ny rLgistL'red in b.ngland (Compan}. number 3971646). ThL subsidiary is USLd to Larry c)uz larger fundraising events i)n behalf ot the charity. The Lompany N'as inaCtiL during the yedr and iherelore the amouni gift aided the Comniuiiity bow)daLion North Edsi nil {?U24.' nil). 45
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 21 Subsidiary company and charities (continued) A summ(Y (}( r¢sults of th¢ subsidiary. company is shown beluw": Total Total 2025 2024 I'urnover Cost of sales Operating profit Adminisliatil'c Losts P4et profjt I'hL agg)rLgdLL of the &4.%ets and liabilities was- Total Total 2025 2024 Assets 70 82 l.iabililieb (12) Net assets 70 70 The Community Foundation North East is sole trustee ol-Joseph Brough Charitsble .1 rust, a registcred Lharily (Ch11Y number 227332). All dclivities ut'the charily hak'e been Lons()lldaiL on a linti by line basis in IhL SOFA. A summary ol the res'ults. of Juseph Brough Charitsble'l rust is shown below: Total 2025 2024 IneStment inLome 67,295 78,812 Charitablc dctii'ilies (48,963} {49,457) Inkestmenl management LM)sts (2,811) Gains/(losses) on InestmentS {97,198) 214,591 let movement in funds (78,866) 241,135
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 21 Subsidiary company and charities (continued) aggregate ol Ihe assets, liabiliLic5 funds was= Total 1.otal 2025 2024 Asscts 2,353,179 2,432,045 LiabilitiLs {7,000) {7,1100) Funds 2,346,179 2,425,n45 R¥presenied b),= Total otal 2025 2024 Permanent endowment fund 2,272,250 2.361),448 Re,%tricted funds 73,929 55,597 Funds 2,346,179 2,425,045 The L.ummunity Foundati()n North F.a8t is also sole Iru.%iee ofiyne and Wear Foundation TrusL a TLgistL'fLd chIlY (hltY number 1031)800). All actifvitÈes of the chIlV haN'L bLL'n Lonsolidatcd on a line by linL basis in ihL SUF'A. A summary of. thL rLsults of. I'yne and Wew I'ounddliun 'l'rusl is below= Total 2025 2024 InwLstment inLome 2S,4S8 28,726 Investtnenl management costs {1,790) Charitable act]ltieS {21,147} (11,472) Gainslllosses) on inwLstmL'nts (36,765) 79,4)4 Net movement in fuDds (32,454) 94,918 47
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 21 Subsidiary company and charities (continued) lthe aggrggate of the assLls, liabilities and funds WdS= Total Total 2025 2024 Assets 904,365 940,644 Liabilities (3,555) Funds 904J65 937,089 RLprLscnled b},= Total 'lotal 2025 2024 Permanent endowmeni fund 859.627 896,392 Ilesiriuted lunds 40.697 Fullds 904,635 937,089 22 Related party transactions In the ordinary cuurse of the Communitv Foundqtion North F.ast's aciivilies, il has aw8rded grants to oiher uharilies i)r organi5dtions that havc Lommon TrustLLwDirectors, or whose empluyee5 are DircLlors ot. the Community l.()undalion North East or where members ot'thc ExcLutive Team are I rustees,.'DireLlors. All grants have beLn Narded using the samL guidelinLs as any other grant. DirLctors and staft'are iilwdi's required to declare Iheir interest in any organisation bcingj ci)nsidered for a grant and do not lake part in any such deLisions. During thc edr DireLlors and their associaled companils d()naied a loial of£ 1.776,773 (2024= £274,452) tu Communit>, Foundation North Last named endown]ent and revenue lunds, and £570 {2074.. £945) donaied bj, member% of the F.XCCUlii'e Staff Team. ThL. Commuiiits. Foundation North East is a member of Ihe Associati(In ofc".harildble Foundations {.4CF'), Th"hiLh John 14ollin8SIN'Orth is a trustee ot-, and paid £4,439 during the finanuial }'ear tor membership. 48
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 22 Related party transactions (continued) ull deiails are gii'en below of grants awarded during the )'ear to related charities and organisalions. OrgaDlS2tion Director/enJployee involved Relationship Total grants Derwcnthaugh Boat Strdtion Lucv Winskell OBF Ilonorary PrcsidLnt 2,000 Connected Voice Stella Simbo Lmployee 10,000 Newcasile City C,ounLiI- Care l.eafver .1 eam Pam Smith Employee 13,102 NLW Writing North Claire Malciilm MBF. I,.mployee -1 rustuu 23,000 North Theatre Trust l.ucy Winskell 0141.. 11,150 Northllmbria ljniversity Sarah GILndinning Lmpliiyee 3.000 SuLCLss4AII C'.1() Stella simtx) Volunl¢er 16,030 Sunderland'l-healru 'l'rus1 Adam Lopardo Trustee 2,000 Tyne Rive Trust John I I()Ilingsorth l-rustLL 32,577 During the year, the tollowing transactions were made between ihu main Lhdrily its subsididrics. Subsidiary 'ature of transaction JosLph Broug)h Charitable I'rust lyne & li'ear boundation Trust Tyne & Wtrar Foundation rust Paid Communitv Foundation North Last for administrativL serviLes l)aid L.'ommunit> l.'oundation North East for administratiN'e service5 Paid Community Foundation Nonh Easl a grant for the Kelleti I,-und 5,OUU 5,084 591 49
Community Foundation North East Notes to the financial statements for the year ended 31 March 2025 (continued) 23 Cash floiv information for the Group Reconciliation of net income to nel ¢asb now from operating actii'ities 2025 2024 Net incon)e for Ibe year 399262 7,019,J62 Adjustments for: Receipt of endow'"mcnt (4,441,947) (2,082,191 } DepreLialion charges 25,771 27,272 (Gains)/losses on cndowmer)t inve.stments 711,743 (7:612.4i5) Lus5cs on programmc rLlatcd invcstmcnLs 49,000 5,000 DividLnds intLrcsl trom invc%tments (2,323,794) {2,312,962) InLfcdSC in debtors (1,060.428) (608,426) InurLa5LI(dLLrLc} in LrLditors 369,917 {53,474) Net cash used in operating activities (6,272,476) (5,617.874) Analysis of caskn and eash equivalents 2025 2024 Cash ai bank atid in hand ,863,$46 3.604,748 Short-term deposits 4,613,936 4,560,155 Total cash and easb equivalents 6,477,482 8,164,903 24 Ultimate controlling party The Direu'tors do not Lonsider that the Comn]unity Foundation North F,ast (Chariryi ha5 an ultimate conirolling parl! bccause the Community I.-OLdati0n Ni orth F.ast has a large and wide-ranging mLmb¢r8hip who eleLI the B()ard and M'ould be required tLS aurce any changes to the Memorandum and Anicles. Due tc) the struLturL ()f ihe Community Troundation North East (Charity) the group also does not hai'e ultimaL¢ conirolling pan},. 50