Charity number: NIC101135
Company number Nl 073343
Global Fund for Community Foundations - The
(a company limited by guarantee)
Directors, report and financial statements
For the year ended 31 March 2023
Period of account: 1 April 2022 - 31 March 2023

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
Contents
item
Page
Reference and Administrative Details
Report of the Directors
Statement of Trustees, Responsibilities
22
Independent Auditor's Report on the Financial Statements
Consolidated Statement ot Financial Activities
(incorporating Income & Expenditure Account)
Gomparative Consolidated Statement ol Financial Activities
12
Charity Statement of Financial Activities
13
Comparative Charity statement of Financial Activities
14
Consolidated Balance Sheet
15
Charity Balance Sheet
16
Statement of Cash Flows
17
Notes to the Financial Statements, incorporating:
18
Statement of Accounting Policies
Other Notes to the Financial Statements

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2023
Company reglstered number
Nl 073343 (Northern Ireland)
Charily reglstered number
NIC101135 (Northern Ireland)
Dlrectors
Robert lan Bird
Amitabh Behar
Laura Garcia
Dr Barbara Jane Klugman
8haral Mehta
Clotilde Pere2-Bode Dedecker
Stephen Pittam - resigned 28 September 2022
Catherine Rodgers - appointed 24 June 2022
Tamas Scsaurszki - appointed 28 February 2023
Secreiary
Jenny Hodgson
Prlnclpal and reglstered office
The Mount
2 Woodstock Link
Belfast
BT6 8DD
Operaiional address
Workshop17 Firestation
11 th Floor
16 Baker Street
Johannesburg 2196
South Africa
Independeni audltors
Ross Brooke Limited
Chartered Accountants, Statutory Auditors
Suile I Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY
Bankers
HSBC
25 - 29 Royal Avenue
Belfast BTI IFB
Solicitors
Jennifer EA Ebbage
Edwards & Co Solicitors
28 Hill Street
Belfast BTI 2LA
Page 1

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE
(A Company Limlted by Guarantee)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2023
Structure, Governance and Management
The directors present their report and the audited financial statements for the year ended 31 March 2023.
The direclors of Global Fund for Community Foundations (GFCF) - for the purposes ol company law and
who served during the year and up to the date of this report - are sel out below:
Amitabh Behar
Robert lan Bird {Chair}
Laura Garcia
Barbara Jane Klugman
Bharat Mehta
Clotilde Perez-Bode Dedecker
Stephen Pittam - resigned 28 September 2022
Catherine Rodgers- appointed 24 June 2022
Tamas Scsaurszki - appointed 28 February 2023
The financial staiements comply with current statutory requirements, the Memorandum and Articles of
Association, applicable Accounting Standards in the United Kingdom and the Statement of Recommended
Practice {SORP) "Accounting and Reporting by Charities: Statement of Recommended Practice" SORP
{FRS102).
The charity is a charitable company limited by guarantee, incorporated on 29 July 2009 (company
registration number N1073343}, registered with the HM Revenue & Customs as a charity, No. XT18816 and
registered with the Charity Commission for Northern Ireland as a charity No. NIC101135.
The GFCF is registered in the UK and South Africa. The two legal entities are inextricably linked and
operale as a group. A full set of consolidated accounts of the group is available.
The narrative below rellects a brief overview of the group and the work it does, the Board of directors have
prepared a detailed Annual Report. This report is available upon request.
Appointment to the Board ol Directors
The composition, appointment and dismissal of directors is guided by the GFCF'S legal Statutes (U.K.
and South Africa) and principles of good governance. The Board appoints directors. At every board
meeting, GFCF directors are invited to recommend names of potential directors. The Nomination
Committee (a sub-set of current directors) retains a record of this. Occasionally. and at the discretion of the
directors. a global open call for applicanis is also used as a method for board recruitment.
Eligibility criteria applied in the seleclion of new directors include demonstrated track record in the fields of
community philanthropy, private philanthropy and / or international development aid, evidence of
commitment to the GFCF'S core values, purpose and vision and relevant specific expertise {in finance,
particular programme, policy and geographic priority areas etc.). Other considerations include ensuring the
diversiiy of the board as a whole in terms of age, gender, race l ethnicity, lived experience etc.
Short-listed candidates are invited to speak with the Nomination Committee and Executive Director, at
which time a decision will be made regarding whether to approach them to serve. The Nomination
Committee will consult, in conlidence, with other directors prior to meeling potential board members in order
to have all voices taken into consideration during the process. Should a candidate be approached to se￿e
as a director, this will be approvéd and formalized by serving directors. requiring a majority of two-thirds of
directors agree with the appointment.
Each new director receives an orientation package as part of their induction. This comprises organizational
statutes, governance manual, most recent strategic and operational Plans, latest annual report and audited
financial statements and a selection of key publications that will orient the director to the organization's
approach to community philanthropy and its ways of working. All new directors are required to review and
sign off on the Governance Manual, returning this to the Executive Director for record keeping.
Page 2

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE
(A Company Limited by Guarantee)
REPORT OF THE DIRECTORS (continued)
FOR THE YEAR ENDED 31 MARCH 2023
Responsibilities of the Board of Directors
The Board of Directors is responsible for approving the annual strategy. However, decisions regarding
allocation of grants, OP8rations and day-to-day allocation of resources lie with the GFCF management
personnel. The Board of Directors delegates day-to-day management of the charity to the Executive
Director. Jenny Hodgson. The Board of directors meets Mice annually to advise on high level strategy and
to provide oversight in terms of grant making, governance and finances. Decisions concerning the pay and
remuneration of the charity's key management personnel are taken by the Executive Direclor and Board of
Directors. In making these decisions, U.K. charitable sector benchmarks, as well as geographic location of
staff, are taken into consideration.
The directors are specifically responsible for preparing the financial statements in accordance with
applicable law and UK Accounting siandards (UK Generally Accepted Accounting Practice}. Company law
requires the directors to prepare financial statements for each financial year which give a true and fair view
of the stale of the affairs of the charity at the end of the financial year end and of the surplus or deficit for
that year.
In preparing Ih8se financial statements the directors are required to:
a} Observe methods and principles of the Charities SORP,.
b} State whether applicable UK accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements.
c) Select appropriate accounting policies and apply them consistently-
dl Make judgements and estimates that are reasonable and prudent"
e) Prepare the financial statements on an ongoing basis unless it is inappropriate to presume that the charity
will continue in business.
The directors are responsible for keeping proper accounting records which disclose with them reasonable
accuracy at any time the financial position of the charily and to enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding ihe assets of
Ihe charity and hence for taking reasonable steps for the prevention and delection of fraud and other
irregularities.
In accordance with company law, as the company's directors, we certify that so far as we are aware. there
is no relevant audit information (information needed by the charity's auditors in
connection with preparing their report} of which the charity's auditors are unaware, and the directors have
taken all the steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the charity's auditors are aware of that information.
Objeclives and Activities
The primary object of the charity Is to act as a grassroots grantmaker working to promote and support the
field and practice of communily philanthropy around the world.
The charity works with individual community foundations and other local grantmakers and their networks
around the world, with a particular focus on the Global South and the emerging economies of Central and
Eastern Europe. Through small grants, technical support and networking, the charity helps these local
institutions to strengthen and grow so that they can fulfil their potential as vehicles for local development
and as part of Ihe infrastructure for sustainable development, poverty alleviation and cilizen participation.
The three core objectives of the charity are listed in the table below, along with activities undertaken in line
with each objective, and how success is assessed with regards to each.
Page 3

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
REPORT OF THE DIRECTORS (continued)
FOR THE YEAR ENDED 31 MARCH 2023
Objective
To support the
building of
institutional
capacity among
community
foundations and
community
philanthropy
organizations at
the local level.
To strengthen
the field of
community
philanthropy
across the
world, focusing
on deepening
practice,
fostering
thought
leadership and
enhancing the
voice and
idenlity of the
field.
Aciivltles Undertaken
Grantmaking
programmes
Technical assistance
Peer exchanges
Assessing Success
Number of grants
Number of new partners
Connections between
partners
Local reSoUr￿S
mobilized by partners
Aims
Short-t8rm."
Locally-owned and
directed community
philanthropy
organizations,
building assets.
capacities and trust
in tne areas where
they work.
Convenings of
partners
Peer learnings
activities
Research reports
GFCF website and E-
Bulletin
Number of convenings /
number and range of
participants
Number of reports
produced I downloads
from GFCF website
Number of blogs I
thought pieces in E-
Bulletin
Increase in
subscriptions to E-
Bulletin
Increase in traffic to
GFCF website
Short-term..
Capacities,
conneclions,
networks, practice,
and visibility
between partners
are strengthened.
Evidence base for
community
philanthropy as an
eco-system of local
actors responding to
urgent and changing
community needs at
the local level is
expanded.
Long-term..
Profile of community
philanthropy
amongst a broader
range of
development actors
as an increasingly
theorized and
documented
development
practice, and a core
element of broader
efforts aimed at
building local
ownership and
shifting power - is
increased.
To inform and
influence the
relationship
between the
community
philanthropy
field and policy
makers,
international
development
agencies and
the broader
philanthropic
sector.
Giving for Change
programme
#ShiftThePower
Treehouse
#ShiftThePower
Fellowships
#ShiftThePower
Manifesto for Change
Building new
relationships with
INGOS and funders
Increase in traffic to
#ShiftThePower
Treehouse
Number of new donors
to GFCF and partners
Number of new
partnerships I new ways
of working demonstrated
with INGOS and funders
#ShiftThePower network
map
Plans for the Fulure
These objectives will continue to be advanced in the coming years by the charity. The Board of directors
holds formal meetings twice annually to review progress and strategy based on experiences and lessons
learned. For the foreseeable future, no significant changes to strategy or resource allocation are
foreseen.
Page 4

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
{A Company Limited by Guarantee)
REPORT OF THE DIRECTORS (continued)
FOR THE YEAR ENDED 31 MARCH 2023
Public Benefll
In setting our objectives and planning our activities for Ihe year the directors have given careful
consideration to the Charity Commission for Northern Ireland's guidance on public benefil to ensure that the
activities have helped to achieve the charity's purposes and provide a benefit to the beneficiaries. The
directors believe that all the work of the GFCF is for the public benefit. as defined in law.
Achlevements and Pertormance for the year ended 31st March 2023
For the year ended 31 st March 2023 the charity awarded small grants amounting to £ 1,162,121. The
primary purpose ol the grantmaking programme is to build the capacity of community philanthropy
institutions around the world. By fostering local cultures of giving, harnessing both local and external
resources and through the use of grants and other support mechanisms, community philanthropy
institutions are able to become trusted and effective changemakers able to empower communities to
address their own development needs. GFCF grants particularly ernphasize efforts to reach and support
those communilies most marginalized, whether by poverty, prejudice, or other forms of exclusion. For Ihe
year ended 31st March 2023, GFCF grants supported institutional development of individual partners,
research, #ShiftThePower Fellowships and response efforts to the war in Ukrain8.
A second programrne relates to learning and sharing of good practice. The charity organized various online
learning events. enabling practitioners in community philanthropy to exchange with and learn from
colleagues working in different country contexts. Several reports and thought pieces were also produced,
which aim to build the evidence-bas8 lor community philanthropy as a development practice.
A third programme of the charity's work focused on continuing to raise the profile of the glob81 community
philanthropy among policy makers, international development agencies and the broader philanthropic
sector. In particular, the GFCF is a member of the Giving for Change consortium, a five-year, eight-country
programme aimed at positioning community philanthropy, both nationally and globally, as a form of and
force for Ireedom of expression and claiming of rights.
Flnancial Review
Overview
GFCF ended the financial year in a strong position. one that will allow the organisation io move forward and
focus on implementing a new and sustainable operating model in 2023124 and hosiing a #ShiftThePower
Global Summit in December 2023. In total. the GFCF raised income of £ 7,197,424 in 2022123, a
substantial increase from the previous financial year funds raised of £ 1,317,493 {2021122}. During the
2022123 financial year the organization had been able to mobilize additional funds in response to the
humanitarian crisis caused by the war in Ukraine and a one-off of donation of US $ 5,000,000 (£4,257,493>.
Over this period, the GFCF spent £ 2,042,972 on charitable activities, which is higher than expenditure of
£1,752,373 in the previous year (2021122>. Expenditure on raising funds of £ 43,647 remained similar
against the previous year expenditure of £ 33,924 (2021122). Net expenditure amounts to £ 2,042,972 for
2022123 compared to expenditure of £ 1,752,373 against the 2021122 net income, The total funds carried
forward to the financial yoar 2022123 is £ 6,217,180 compared to £ 1,159,940 carried forward to the
financial year 202112022.
Principal Fundlng Sources
The GFCF'S income is derived from a variety of sources. These are largely in the form of grants from
institutional donors {including trusts, loundalions, multilateral and bilateral donors), and, occasionally,
voluntary income for particular appeals and campaigns.
The principal funding sources for the year ended 31 sl March 2023 have been: Charles Stewart Mott
Foundation, Choose Love, Davidson Trust, Dutch Minislry of Foreign Affairs via Wilde Ganzen. European
Union, Fondation Assistance Internationale, Foundation for a Just Society, GlobalGiving, Humanity United,
Open Society Foundations, Porticus, Flockefeller Brothers Fund and the National Philanthropic Trust.
Page 5

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
REPORT OF THE DIRECTORS (contlnued)
FOR THE YEAR ENDED 31 MARCH 2023
Reserves
For the year ending 31 st March 2024 the direthors will be developing and approving a GFCF reserve
policy.
Risk Pollcy
For the year ending 31$1 March 2024 the directors will be finalising the development and approving a GFCF
risk policy.
Audltors
UHY Ross Brooke, Chartered Accountants are deemed to be reappointed in accordance with Section
487{2) of the Companies Act 2006.
References and Admlnlstrative Detalls
Refer to page 1 of Ihe accounls.
The Report of the Directors was approved by order of the board of Directors and signed on the board's
behalf by:
lan Blrd
Trustee
Date.. 21 September 2023
Page 6

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limlted by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GLOBAL FUND FOR
COMMUNITY FOUNDATIONS - THE (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Opinlon
We have audited the financial statements of Global Fund for Community Foundations The {the 'parent charitable
company,) 2nd its subsidiaries (the'group,) for the year ended 31 March 2023 which comprise the consolidated and
charity statement of financial activities, the consolidated and charity balance sheet, the consolidated cashflow
statement and the related notes. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting
Practice) including FRS 102 'th8 Financial Reporting Standard applicable in the UK and Republic of Ireland,.
In our opinion the financial statements:
Give a true and fair view of the staled of the charitable company's affairs as at 31 March 2023, and of its
incoming resources and expenditure of resources, including its income and expenditure, for the year then
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinlon
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUK)} and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of
the financial statements section of our report. We are independent of the charitable company in accordance with
the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S
Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial stalements. we have concluded thal the directors, use of Ihe going concern basis of
accounting in the preparation of the financial staiements if appropriate.
Based on the work we have performed, we have not idenlified any material uncertainties relating to events or
conditions that. individually or Collectively, may cast significant doubt on the charitable company's ability to continue
as a going concern for the period of at least twelve months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the
relevant sections of this report.
Page 7

GLOBAL FUND FOR COMMUNITY FOUNDATIONS. THE
(A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GLOBAL FUND FOR
COMMUNITY FOUNDATIONS- THE (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Other Informalion
The directors are responsible for the other information. The olher information comprises the information included in
the directors, annual report, other than the financial statements and our auditor's report thereon. Our opinion on the
firiaiicial statements does not cover other information and, except to the extent othe￿iSe explicitly stated in our
report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial stalernents, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or othe￿iSe appears to be materially misstated. If we identify such material
inconsistencies or apparent malerial misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the work
we have perfomed, we conclude that Ihere is a material misstatement of this other information, we are required to
report that fact.
We have nolhing to report in this regard.
Oplnlon on other matters prescribed by the Companles Acl 2006
In our opinion based on the work undertaken in the course of the audit..
the information given in the Directors, Annual Report for the financial year for which the financial statements are
prepared is consistent with the financial statements. and
the Directors, Annual Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Directors Annual Report.
We have nothing io report in respect of the following matters where the Companies Act 2006 requires us to report
to you if, in our opinion-.
adequate accounting records have not been kept.
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures ol directors, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
the directors were not entitled to prepare the financial statements in accordance with the small companies,
regime and take advantage ol the small companies exemption from the requirement to prepare a strategic
report.
Responsibilities of the directors
As explained more fully in the Directors, Responsibilities Statement set out on pages 3 the directors (who are also
the trustees of the charitable company for the purposes of charity law) are responsible for the preparalion of the
financial statements and for being satisfied that they give a true and lair view, and for such internal conlrol as the
directors determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the charitable company's ability to
continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern
basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or
have no realistic alternative but to do so.
Page 8

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GLOBAL FUND FOR
COMMUNITY FOUNDATIONS- THE (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Auditor's responslbllltles for the audlt of the financial statements
We have been appointed auditor under the Companies Act 2006 and report in accordance with this Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists, Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected io influence
the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are inslances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to delect material misstatements in respect of irregularities, including
fraud.
The specific procedures for this engagement and the extent to which these are capable of deteciing irregularities,
including fraud is detailed below:
The engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations"
We identified the laws and regulations applicable to the company through discussions with management, and
from our cumulative audit and knowledge and experience of the charity and the sector.
We focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company and assessed the extent of compliance with laws and
regulations;
We assessed the susceptibility of the company's financial statements to material misstatement. including obtaining
an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility lo fraud, their knowledge
of actual, suspected, and alleged fraud;
considering the internal controls in placeto mitigate risks offraud and non-compliancewith laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation;
enquiring of management as to actual and potential litigation and claims" and
and analysing legal costs to ascertain if there have been instances of non-compliance with laws and regulations.
We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control thai we
idenlify during our audit.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases
the more that oompliance with a law or regulation is removed from the events and transactions reflected in the
financial statements. as we will be less likely to become aware of inslances of non-compliance. The risk is also
greater regarding irregularities occurring due to fraud rather Ihan error, as fraud involves intentional concealment,
forgery, collusion, omission or misrepresentalion.
Page 9

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Lirnited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GLOBAL FUND FOR
COMMUNITY FOUNDATIONS- THE (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
A further description of our responsibilities is available on the Financial Reporting Council's website at-
htt sJlwww.frc.or .uklauditorslaudil-assurance-ethicslaudilors-res
onsibilities-for-the-audit. This description forms
part of our auditor's report.
Use ot our report
This report is made solely to the charitable company's members, as 8 body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable
company's members those matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the
charitable company and the charitable company's members as a body, for our audit work, for this report, or for the
opinions we have formed.
line Websler FCA
For and on behalf of Ross Brooke Limited, Statutory Auditor
Chartered Accountants and Registered Auditors
IIILILS
Suite I Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire, OX14 1SY
Date
Page 10

GLOBAL FUND FORCOMMUNITY FOUNDATIONS-THE
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE
ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted
funds
Restrirted
funds
Total
Total
funds
2023
funds
2023
2023
2022
Note
Income from:
Donations and legacies
Investments
4.257.493
2,939.931
7,197,424
1.317,493
Other
2,306
2,306
23.802
Total Income
4,260,281
2,939.931
7,200,212
1,341,297
Expendfture on:
Charitable activitles
2,042,972
2,042,972
1,752,373
Total expenditure
2,042,972
2,042,972
1,752,373
Net {expenditure)/income
4.260.281
896,959
5,157,240
1411,0761
Transfers between funds
15
Net movement in funds
4,260.281
896,959
5,157,240
1411,076)
Reconciliation of funds:
Total funds brought forward
Net movement in fund5
20,362
4,260,281
1,039,578
896,959
1,059,940
5,157,240
1,471,016
1411,0761
Total funds carried forward
15
4.280.643
1,936,537
6.217,180
1,059,940
The Statement of Financial Activities includes all gains and losses recognised In the year.
All activities derived from continuing operations during the above two f inancial periods.
The notes on pages 18 to 31 form part of these financial statement5.
Page 11

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE
ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2022
COMPARATIVE YEAR INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
funds
Restrlcted
Total
fund5
funds
2022
2022
2022
Note
In￿Me from:
Donations and capital grants
Investments
1,317.493
1,317,493
Other
23,802
23,802
Total income
23,804
1,317,493
1,341,297
Expendlture on:
Charitable activities
(2,6611
1,755,034
1,752,373
Total Èxpendlture
{2,661)
1.755,034
1,752,373
Net (expenditure)/lncome
26,465
1437,541}
(411,0761
Transfers between funds
15
25,000
{25.000)
Net movernent In funds
51,465
1462,541)
(411.076)
Reconclllatlon of funds:
Total funds brought forward
Net movement in funds
131,103}
51,465
1,502,119
(462.541)
1,471,016
1411,076)
Total funds carrled fonvard
20,36Z
1,039,578
1,059,940
The Statement of Financial Activlties includes all gains and105ses recognised in the year.
The notes on pages 18 to 31 form part ofthese financial statements.
Page 12

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
CHARITY STATEMENT OF FINANCIAL AcfiviTIES (INCORPORATING INCOME AND EXPENDITURE
ACCOUNn
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted
funds
Restricted
funds
Total
Total
fund5
2023
funds
2023
2023
2022
Note
IT￿ome from:
Donations and legacies
Investments
4.257.493
482
2,939,931
7.197.424
1,317,493
Other
2,306
2,306
23.369
Total income
4,260,281
2,939,931
7.200,212
1,340,864
Expendi￿re on:
Charitable activitie5
2,035,852
2,035,852
1,756,643
Total expenditure
2.035,852
2,035,852
1,756,643
Net lexpendlture}/income
4.260.281
904,079
5,164,360
{415,7791
Transfers between funds
15
Net movement in funds
4.260.281
904.079
5,164,360
1415,7791
Reconciliation of funds:
Total funds brought forward
Net movement in funds
19,467
4,260.281
1.035,762
904,079
1,055,229
5,164,360
1,471,008
1415,779)
Total funds carrled forward
15
4.279.748
1,939,841
6.219,589
1,055,229
The Statement of Financial Activitie5 includes all gains and losses recognised in the year.
All activities derived from continulng operations during the above two financial periods,
The notes on pages 18 to 31 form part of these financial statement5.
Page 13

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
IA Company Limited by Guarantee}
CHARITY STATEMENT OF FINANCIAL ACTIVITIE5 IINCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2022
COMPARATIVE YEAR INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
funds
Restrirted
funds
Totsl
funds
2022
2022
2022
Note
Inci￿ne from:
Donations and capital grants
Investments
1,317,493
1.317,493
Other
23,369
23,369
Total income
23,371
1,317.493
1.340.864
Expenditure on:
Charitable activities
(2,6611
1,759,304
1,756.643
Total expendlture
(2,6611
1,759.304
1,756,643
Net lexpenditure)Ilncome
26,032
(441,811)
(415.779)
Transfers between funds
15
25,000
125.0001
Net movement in fund5
51,032
(466,8111
(415,779)
Reconcillation of funds:
Total funds brou8ht forward
Net movement in funds
{31,5651
51,032
1,502,573
1466,811)
IA71.008
1415,779)
Total funds carried forward
19,467
1,035,762
1,055,229
The Statement of Financial Activities includes all gains and losses recogni5ed in the year.
The notes on pages 18 to 31 form part of these financial statements.
Page 14

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NUMBER: N1073343
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2023
2023
2022
Note
Flxed assets
Tangible assets
12
3,211
1,089
3,211
1,089
Current assets
Debtors
Cash at bank and in hand
13
457.030
5,787,423
1,762
1,177,591
6,244,453
1,179,353
Liabllltles
Creditors.. amounts falling due within
one year
14
{30,484}
1120,5021
Net current assets
6.213,969
1,058.851
Total net assets
6.217,180
1,059,940
Funds
Restricted income funds
Unrestricted intome funds
1.936,537
4.280,643
1,039.578
20,362
Total funds
15
6,217,180
1,059,940
The financial statements on pages 11 to 31 were approved by the Trustees, and authorised for issue on
21 September 2023 and are signed on their behalf, by..
lan Bird
Trustee
The notes on page5 18 to 31 form part of these financial statements.
Page 15

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NUMBER: N1073343
COMPANY BALANCE SHE
AS AT 31 MARCH 2023
2023
2022
Note
Fixed assets
Tangible assets
12
3,211
1,089
3,211
1,089
Current assets
Debtors
Cash at bank and in hand
13
456,665
5.786,682
1,366
1.169.464
6,243,347
1,170,830
Liabilities
Creditors: amounts falling due within
one year
(26,969)
1116,690}
Net current assets
6.216,378
1,054,140
Total net assets
6,219,589
1,055,229
Funds
Restricted income funds
Unrestricted income funds
1.936,537
4.283,052
1.035.762
19,467
Total funds
15
6,219,589
1,055,229
The financial statements on pages 11 to 31 were approved by the Trustees, and authorised for issue on
21 September 2023 and are signed on their behalf, by..
lan Bird
Trustee
The notes on pages 18 to 31 form part of these financial statements.
Page 16

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE
(A Company Limited by Guarantee
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
Note
2023
2022
Cash flows from operating activities
Net cash provided by operating activities
17
4.612,115
1328,5621
Cash flows from investlng artivlties
18
{2,283)
14311
Change in cash and cash equivalents in the year
4,609,832
1328,9931
Cash and cash equivalent5 at the beginning of the year
1,177,591
1,506,584
Cash and cash equivalents at the end of the year
5,787,423
1,177,591
The notes on pages 18 to 31 form part of these financial statements.
Page 17

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
A¢¢ounting pollcles
Global Fund for Community Foundations- The is 3 Charitable Company limited by guarantee in Northern
Ireland. In the event of the charity being wound up, the liability of the guarantee is £1 per member of the
charity. The address of its princip31 place of business is given on page l and the nature of its operations are set
out in the trustees, report.
1.1 Basis of preparatlon of financial statements
The Charitable Company constitutes a public benefit entity as defined by FRS 102. The financial
statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their account5 in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021, the Companie5
Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention,
modified to include certain items at fair value. The financial statements are presented in sterling which is
the funrtional currenry of the charity and rounded to the nearest £.
A summary of the principal accounting policies adopted (which have been applied consistently. except
where noted), judgements and key sources of estimation uncertainty, is set out below.
1.2 Subsidiary
The Global Fund for Community Foundations (South Africa) NPC is a non profit company incorporated in
South Africa. The main object of the company is to undertake and facilitate the conduct of public benefit
activities within the Republic of South Africa and elsewhere on the continent of Africa in collaboration
with the founding member, the Global Fund for Community Foundations. Its results have been
consolidated.
1.3 Going concern
The financial statements have been prepared on a going concern basi5 35 the trustees believe that no
material uncertainties exist. The trustees have considered the level of fund5 held and the expected level
of income and expenditure for 12 months from authorising these financial statements. The budgeted
income and expenditure is sufficient with the level of reserves for the Charitable Company to be able to
continue as a going concern.
Page 18

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
1.4 Income
All incoming re50urce5 are included in the statement of Financial Activities ISOFAI when the charity is
legally entitled to the income after any performance conditions have been met, the amount can be
measured reliably and it 15 probable that the income will be received.
Grants received are recognised at fair value when the charity has entitlement after any performance
conditions have been met. it is probable that the income will be received and the amount can be
measured reliably. If entitlement is not met then these amounts are deferred.
For donations to be recognised the charity will have been notified of the amounts and the settlement
date in writing. If there are conditions attached to the donation and this requires a level of performance
before entitlement can be obtained then income is deferred until those conditions are f ully met or the
fulfilment of those conditions is within the control of the charity and it is probable that they will be
fulfilled
Investment income is earned through holding assets for investment purposes. Interest Income is
recognised using the effective interest method.
1.5 Expendlture
All expenditure is accounted for on an accruals basis and has been classified under heading5 that
aggregate all costs related to the cate80ry. Expenditure is recogni5ed where there 15 a legal or
constructive obli8ation to make payments to third parties. it is probable that the settlement will be
required and the amount of the obligation can be measured reliably.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and
services for its beneficiarie5. It includes both costs that can be allocated directly to such attivities and
those costs of an indirect nature necessary to support them.
Irrecoverable VAT is charged as an expense against the activity for which expenditure ar05e.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are
offered, this is accrued as soon as the recipient is notified of the grant, as this glves rise to a reasonable
expectation that the recipient will receive the grants. Where grants are conditional relating to
performance then the grant is only accrued when any unfulfilled conditions are outside of the control of
the charity.
Support costs are those that assist the work of the charity but do not directly represent charitable
activities and include office costs. governance costs, and administrative payroll costs. They are incurred
directly in support of expenditure on the objects of the charity and include project management. Where
5UPPOrt costs cannot be directly attributed to particular headin8S they have been allocated to
expenditure on charitable activities on a basis consistent with use of the resources.
The analysis of 5UPPOrt costs is included in note 7.
Page 19

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
1.6 Tangible fixed assets and depreciation
Assets costing £l.000 or more are capitalised as tangible fixed assets and are carried at cost, net of
depreciation and any provision for impairment.
Depreciation is provided on all tangible fixed asset5, at rates calculated to write off the cost of each asset
on a strai8ht-line basis over its expected useful life, a5 follows".
Computer equipment
20 percent per annum
1.7 Debtors
Debtors with no stated interest rate and receivable within one vear are recorded at transaction price. Anv
1055es arising from Impairment are retognised in expenditure.
1.8 Llablllties
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event,
it is probable that a transfer of economic benefit will be required In settlement, and the amount of the
Settlement can be estimated reliably. Liabilities are recognised at the amount that the Charitable
Company anticipates it will pay to settle the debt or the amount it has received as advanced payments
for the goods of services it must provide.
1.9 Foreign currencv
Foreign currenry transactions are initially recognised by applying to the forei8n currency amount the spot
exchange rate between the functional currency and the foreign currency at the date of the transaction.
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are
translated using the closing rate.
1.10 Taxation
The Charitable Company is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance
Act 2010 and therefore it meets the definition of a Charitable Company for corporation tax purposes.
Accordingly, the Charitable Company is potentially exempt from taxation in respect of income or capital
gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied
exclusively to charitable purposes.
1.11 Pensions benefits
When employees have rendered service to the charity. 5hort-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for
that service.
The charity operates a defined contribution plan for the benefit of its employees. Contributions are
expensed as they become payable.
Page 20

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
1.12 Fund accountlng
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for particular purposes. The c05t of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted fund is
set out in the notes to the financial statements
Judgements and key sources of estimation uncertainty
Accounting estimates and judgements are continually evaluated and are based on historical experience
and other factor5, including expectations of future events that are believed to be reasonable under the
circumstances.
There are no critical accountin8 estimate5 and assumptions or critical areas of judgement.
Page 21

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Income frorn donations and legacies
Unrestrirted
funds
Restricted
funds
Total
funds
Total
funds
2023
2023
2023
2022
Grants
4,257,493
2,939,931
7,197,4Z4
1,317,493
Unrestricted
funds
Restrlrted
funds
2023
Total
funds
Total
funds
2023
2023
2022
Adeso Africa
Charles Stewart Mott Foundation
Choose Love
114,800
423,111
247,756
230.015
247,756
230,015
Civicus
21,572
Davidson Trust
Dutch Ministry of Foreign Affairs (Wilde
Ganzenl
European Union
Ford Foundation
Fondation Assistance International
Foundation for a Just Society
GlobalGiving
Humanity United
Inter-American Foundation
National Philanthropic Trust
Open Society Foundations
PortlCUS
Rockefeller Brothers Fund
20,OtKJ
428,494
20,000
428,494
534,793
129.761
930,564
129,761
930,564
125,417
254,074
334,191
41,649
254,074
334,191
41,649
12,964
1,753
4,257.493
4.257,493
200,184
87,130
36,113
200,184
87,130
36.113
41,531
41,522
4,257,493
2,939.931
7,197,424
1,317,463
Page 22

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Investment income
Unrestricted
funds
2023
Restrlcted
funds
2023
Total
funds
2023
Total
funds
2022
Interest - deposits
482
Expenditure
Activities
undertaken
dlrertlv
2023
Grant
funding of
activities
2023
Support
Total
2023
2023
Grants to community philanthropy
organisations
Connectin8 the field and strengthening to
evidence base for people-led
development
Building a global #ShiftThePower
movement
Fundraising
105,625
1,096.889
206,529
1,409.043
225,348
16,524
45,897
287,769
225,109
48,708
28,696
302,513
37,918
5,729
43,647
594,000
1.162,121
286,851
2,042,972
Comparativesfor the previou5 year
Artivities
undertaken
dirertlv
2022
Grant
fundSn8 of
activities
Support
Total
2022
2022
2022
Grants to community philanthropy
organisations
Connetting the field and strengthening to
evidence base for people-led
development
Building a global #ShiftThePower
movement
Fundraising
91,135
1,105,448
69,938
1,266,521
187,362
75,293
15,541
278,196
164,014
9,718
173,732
31.984
1.940
33,924
474,495
1,180,741
97,137
1,752,373
Page 23

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Net income/lexpenditure)
2023
2022
Net incomel{expenditurel for the year includes..
Depreciation
Fees payable to auditor for..
2023 Statutory audit
2022 Statutory audit
2021 Statutory audit
2020 Statutory audit
Grant audits
Other services
643
586
11.202
4.306
5,294
5.759
877
3,299
5,400
1,080
Charitable activities
Analysis of support costs
Grants to Connecting the Building a global
community
field and #ShiftThePower
phllanthropy
strengthening
movement
organlsations
to evidence
base for
people-led
develoDment
2023
Fundralslng
2023
Total
2023
2023
2023
Support staff tosts
Finance
21,266
113,758
7,689
9,195
6,956
47,665
4,726
25,280
1,709
2,043
1,546
10.593
2,955
15,805
1,068
1,278
967
590
29,537
157,999
10,679
12,771
9,662
66,203
3,156
213
Information technology
Rental
255
Human resources
193
Governance costs
6,623
1,322
206,529
45￿97
28,696
5.729
286,851
Support COStS are allocated based on staff time.
Pa8e 24

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Charitable activitie5 (continued)
Analysis of support costs Icomparativel
Grants to Connecting the Building a global
community
field and #ShiftThePower
philanthropy
strengthening
movement
organisations
to evidence
base for
peopl&led
development
2022
Fundralslng
2022
Total
2022
2022
2022
Support staff costs
Finance
8,739
9,096
4,959
12,097
7,822
27,225
1,942
2,021
1,102
2,688
1,738
6.050
1,214
1,264
689
242
12,138
12,633
6,888
16,801
10,864
37,813
252
Information technology
Rental
138
1,681
1.087
3,783
336
Human resources
217
Governance costs
755
69.938
15,541
9.718
1,940
97,137
Grants to partner institutions- Charity and Group
Restricted
funds
Total
fund5
Total
funds
2023
2023
2022
Institutional Development
Research
Conferences & Convenings
COVID-19 response
#ShiftThePower Fellowships
Ukraine war response
711,931
16.524
5,264
{22.3561
48,708
402,050
711.931
16.524
5,264
(22.356)
48.708
402,050
613,206
75,293
2,223
353.006
137,013
1,162.121
1.162,121
1,180.741
Governance costs- Charity and Group
2023
2022
Staff costs
Board meeting costs
Auditorfs remuneration
Other
26,909
17,107
21,437
750
22.071
15.229
513
66,203
37,813
Page 25

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
io. Staff costs
Charlty
2023
Group
2023
2022
2022
Wages and salaries
Soci?1 security costs
Pension costs
160,968
14.551
9,571
171,795
8.902
10.068
196.571
14,551
9,571
186,967
8,902
10,068
185.090
144389
190,765
122,156
220,693
144,389
205,937
122.156
Other staff related costs/consultancy
329,479
312,921
365,082
328,093
Staff numbers
The average numbers of persons (including senior management team} employed by the Charitable Company
and group during the period was as follows..
Charlty
2023
No.
Group
2023
No.
2022
2022
Employment contract
Employer of record
The number of employees who received total employee benefits (excluding employer pension costs) of more
than £60,000 is as follows..
Charlty
2023
Group
2023
No.
2022
No.
2022
No.
£90.001- £100,000
£ioo,ooi- £iio,000
11. Trustee remuneration and expense5
The trustees neither received nor waived any remuneration during the year12022: £Nill.
Two trustee5 received expenses totalling £92412022: £nill.
Page 26

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
12. Tangible fixed assets
GROUP
Computer
equlpment
Total
Cost orvaluation
At l Apri! ?022
Additions
3,050
2,765
3.850
2.765
At 31 March 2023
6,615
6,615
Depreclatlon
At l April 2022
Charge forthe year
2,761
643
2,761
643
At 31 March 2023
3,404
3,404
Net book value
At 31 March 2023
3,211
3,211
At 31 March 2022
1,089
1,089
CHARITY
Computer
equlpment
Total
Cost or valuation
At l April 2022
Additions
3,179
2,765
3,179
2,765
At 31 March 2023
Depreciation
At l April 2022
Charge forthe year
2.090
643
2,090
643
At 31 March 2023
2,733
2,733
Net bookvalue
At 31 March 2023
3,211
3,211
At 31 March 2022
1,089
1,089
Page 27

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
IA Company Limited by Guafantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
13. Debtors
Charlty
2023
Group
2023
2022
2022
Prepayments and accrued income
Other debtors
455,299
1,366
455,664
1,366
396
1,366
1,366
456,665
1,366
457.030
1,762
Creditors: amounts falling due within one year
Charity
2023
Group
2023
2022
2022
Trade creditors
Accruals and deferred income
Other taxation and Social security
3,527
22324
1.1
101,080
12,539
3,071
3.527
25.839
1.118
102,579
14,852
3.071
26.969
116.690
30,484
120.502
15. Funds
Group
Balance at I
Apr 2022
Balance at 31
Mar 2023
Income
Expendlture
Transfers
General unrestricted funds
20.362
4,260,281
4,280,643
Restricted 8eneral fund5
Total fund5
1,039,578
2,939.931
12,042,972)
(2,042.972)
1,936.537
1,059,940
7,200,212
6.217,180
Comparative information In respett of the preceding period 15 as follows:
Balance at I
Apr2021
Balance at 31
Mar 2022
Income
Expenditure
Transfers
General unrestritted funds
131,103)
23,804
2,661
25,000
20,362
Restricted general funds
1,502,119
1,317,493
11.755,0341
125,0001
1,039,578
Total funds
1,471,016
1,341,297
11.752,3731
1.059.940
Page 28

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
15.
Funds (continued
Charity
Balance at I
Apr 2022
Balan￿ at 31
Mar 2023
Income
Expendlture
Transfers
General unrestritted fund5
19A67
4,260.281
4279,748
Restricted general funds
Total fund5
1.035,762
2,939.931
{2,035A52)
(2.035,8521
1,939,841
1.055,229
7.200.212
6,219,589
Comparative information in respect of the preceding period 15 as follows:
Balance at I
Apr 2021
Balance at 31
Mar 2022
Income
Expenditure
Transfers
General unrestricted funds
131.5651
23,371
2,661
25,000
19.467
Restricted general funds
Totsl funds
1,502.573
1,317,493
11.759,3041
11,756,643)
125,0001
1,035,762
1,471.008
1,340,864
1,055,229
Restricted funds comprise grants awarded to the charity to cover the core objects as explained in the
Report of the Directors
16. Analysls of net assets between funds
Group
Restricted
general
funds
2023
Unrestrirted
funds
2023
Total
funds
2023
Fixed assets
Current assets
Creditors due within one year
3,211
1,963.810
130,484
1,936,537
3.211
6.244A53
(30A84)
4,280,643
4,280,643
6.217,180
Analysis of net assets between funds- prlor year
Restrfrted
general
funds
2022
Unrestricted
funds
2022
Total
funds
2022
Fixed assets
Current assets
Creditors due within one year
1,089
1,159,704
{120,3201
1,089
1,179,353
1120,5021
19.649
11821
19,467
1,040,473
1,059,940
Page 29

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
16. Analysis ot net assets between funds (continued)
Charity
Restricted
general
funds
2023
Unrestricted
funds
2023
Total
funds
2023
Fixed assets
Current assets
Creditor5 due within one year
3.211
1.960.295
(26.969)
3,211
6.243.347
126,969)
4.283.052
4,283,052
1.936.537
6.219.589
Analysis of net assets between funds - prior year
Restrlrted
general
funds
2022
Unrestrlcted
funds
2022
Total
funds
2022
Fixed a55ets
Current assets
Creditors due within one year
1,089
1,151.181
1116,5081
1,089
1,170,830
1116.6901
19,649
{182)
19,467
1,035,762
1,055.229
17.
Reconclliation of net expendlture to net cash flow from operatlng activities
2023
2022
Net income / lexpenditurel for the reporting period {as
per the statement of financial activities
Adjusted for:
Interest receivable
Depreciation and impairment of tangible fixed assets
Unrealised exchange movement
Ilncrea5e} / decrease in debtors
Increase / {decreasel in creditors
5,157,240
(411,0761
14821
643
121
586
860
1455,268)
(90,018)
38,363
42,707
Net cash provlded by / (used in) Operating Artlvttles
4,612,115
1328,562
Page 30

GLOBAL FUND FOR COMMUNITY FOUNDATIONS- THE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
18.
Cash flows from inve5tin8 activities
2023
2022
Purchase of tangible fixed assets
Interest received
{2,765)
482
{4331
Net cash provided by / (used in) Operatln8 Actlvltles
(2,283)
14311
19. Analysis of cash and cash equivalents
2023
2022
Cash in hand and at bank
5.787.423
1,177,591
Total cash and cash equivalents
5.787,423
1,177,591
20. Analysis of changes in net debt
At l April
2022
Cashflows
At 31 March
2023
Cash
1,177,591
4.609.832
S,787,423
1,177,591
4,609,832
5,787,423
21. Related party transartlons
Unrestricted donations totalling £Nil1£550} were received from trustees.
Page 31