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← Global Fund for Community Foundations

2025-04-01-accounts

Charity number: NIC101135 Company number NI 073343

Global Fund for Community Foundations - The (a company limited by guarantee)

For the year ended 31 March 2025

Period of account: 1 April 2024 31 March 2025

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

Contents

Item Page
Reference and Administrative Details 1
Report of the Directors 2
Independent Auditor
s Report on the Financial Statements		 7
Consolidated Statement of Financial Activities 11
(incorporating Income & Expenditure Account)
Comparative Consolidated Statement of 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 2025

Company registered number NI 073343 (Northern Ireland)
Charity registered number NIC101135 (Northern Ireland)
Directors Robert Ian Bird
Shubha Chacko
appointed 11 April 2024
Kamala Chandrakirana
appointed 1 August 2024
Barbara Jane Klugman
Felecia Lucky
Bharat Mehta
Catherine Rodgers
Tamás Scsaurszki
Secretary Jenny Hodgson
Principal and registered office The Mount
2 Woodstock Link
Belfast
BT6 8DD
Operational address 50 Oxford Road
Parktown
Johannesburg 2196
South Africa
Independent auditors Ross Brooke Limited
Chartered Accountants, Statutory Auditors
Suite I Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY
Bankers HSBC
25 - 29 Royal Avenue
Belfast BTl lFB
Solicitors Jennifer EA Ebbage
Edwards & Co Solicitors
28 Hill Street
Belfast BTl 2LA

Page 1

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025

Structure, Governance and Management

The directors present their report and the audited financial statements for the year ended 31 March 2025. The directors of Global Fund for Community Foundations (GFCF) for the purposes of company law and who served during the year and up to the date of this report are set out below:

The financial statements 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 NI073343), 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 operate as a group. A full set of consolidated accounts of the group is available.

The narrative below reflects 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 of Directors

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 applicants is also used as a method for board recruitment.

Eligibility criteria applied in the selection of new directors include demonstrated track record in the fields of community philanthropy, private philanthropy and / or international development aid, evidence of commitment to and vision and relevant specific expertise (in finance, particular programme, policy and geographic priority areas etc.). Other considerations include ensuring the diversity of the board as a whole in terms of age, gender, race / 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 confidence, with other directors prior to meeting potential board members in order to have all voices taken into consideration during the process. Should a candidate be approached to serve as a director, this will be approved 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 k

Page 2

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 MARCH 2025

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.

Responsibilities of the Board of Directors

The Board of Directors is responsible for approving the annual strategy. However, decisions regarding allocation of grants, operations 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 twice annually to advise on high level strategy and to provide oversight in terms of grant making, personnel are taken by the Executive Director 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 Standards (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 state 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 these financial statements the directors are required to:

The directors are responsible for keeping proper accounting records which disclose with them reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection 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.

Objectives and Activities

The GFCF is a grassroots grantmaker working to promote and support institutions of community philanthropy around the world. Its long-term goal is to embed the practice and paradigm of community philanthropy as a cornerstone of a new architecture for effective, locally-owned and locally-driven development that shifts power and voice to the community level.

The GFCF works with individual community philanthropy organizations and other local grantmakers and civil society organizations and their networks around the world, with a particular focus on the Global South and Central and Eastern Europe. Through small grants, technical support and networking, the GFCF helps these local institutions to strengthen and grow so that they can fulfil their potential as vehicles for local development and as part of the infrastructure for sustainable development, poverty alleviation and citizen participation.

Page 3

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 MARCH 2025

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.

----- Start of picture text -----
Objective Activities Undertaken Assessing Success Aims
To support the Grantmaking programmes Number of grants Short-term:
building of Technical assistance Number of new partners Locally-owned and
institutional Connections between directed community
capacity among partners philanthropy
community organizations, building
Local resources
foundations and assets, capacities and trust
mobilized by partners
community in the areas where they
philanthropy work.
organizations at
the local level.
To strengthen the Convenings of likeminded Number of convenings / Short-term:
field of organizations around specific number and range of Capacities, connections,
community issues, themes and participants networks, practice, and
philanthropy geographies Number of reports visibility between partners
across the world, GFCF website and produced / downloads are strengthened.
focusing on communications from GFCF website Evidence base for
deepening
Strengthening the evidence Increase in traffic to community philanthropy
practice, fostering
base for, and documenting GFCF website as an eco-system of local
thought
the practice of, community Number of blogs / actors responding to
leadership and
philanthropy thought pieces in E- urgent and changing
enhancing the
Bulletin community needs at the
voice and identity
local level is expanded.
of the field. Increase in subscriptions
to E-Bulletin
To inform and #ShiftThePower Treehouse Increase in traffic to Long-term:
influence the #ShiftThePower Global #ShiftThePower Profile of community
relationship Treehouse philanthropy amongst a
between the #ShiftThePower Fellowships Number of new donors broader range of
community to GFCF and partners development actors as
Advocacy and Influencing
philanthropy field Possible Now Number of new an increasingly theorized
and policy partnerships / new ways and documented
makers, Advocacy and influencing of working development practice, and
international Giving for Change demonstrated with a core element of broader
development Advocacy and influencing INGOs and funders efforts aimed at building
agencies and the Ukraine local ownership and
Number of events held
broader Building new partnerships or attended online and shifting power is
philanthropic with funders increased.
sector. in person
Representing the GFCF,
community philanthropy and
#ShiftThePower amongst a
range of different actors
----- End of picture text -----

Page 4

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 MARCH 2025

Plans for the Future

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.

Public Benefit

In setting our objectives and planning our activities for the year the directors have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit 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.

Achievements and Performance for the year ended 31[st] March 2025

For the year ended 31 March 2025 the charity awarded 67 small grants amounting to £1,113,094 to community 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 supports to grassroots partners, community philanthropy institutions are able to become trusted and effective change-makers able to empower communities to address their own development needs. GFCF grants particularly emphasize efforts to reach and support those communities most marginalized, whether by poverty, prejudice or other forms of exclusion. For the year ended 31 March 2025, GFCF grants supported the institutional development of individual partners, #ShiftThePower Fellowships, conferences and convenings, climate justice and response efforts to the war in Ukraine.

A second GFCF objective relates to learning and sharing of good practice. The charity organized various in-person and 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-base for community philanthropy as a development practice.

among policymakers, 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 freedom of expression and claiming of rights. The #ShiftThePower Fellowship programme also falls under this third objective.

Financial Review

Overview

The GFCF ended the financial year in a favorable position, one that will allow the organization to move forward and focus on implementing a sustainable operating model in 2025/26. In total, the GFCF raised income of £1,039,378 in 2024/25, compared to the previous financial year of funds raised of £2,131,858. The income was higher in the 2023/24 financial year as a number of donations were received for the one-off event, the #ShiftThePower Global Summit held in December 2023. During the 2024/25 financial year the organization has been able to mobilize new funds towards climate justice. For the period 2024/25 the GFCF spent £2,107,882 on charitable activities. This is lower than expenditure of £3,114,670 in the previous year, 2023/24. The hosting of the #ShiftThePower Global Summit accounted for the higher value of expenditure in the previous financial year. Funds from the one-off donation received in the 2022/23 financial year were spent towards the allocation of grants to the value of £202,232. Expenditure on raising funds amounting to £54,942 in 2024/25. This expense is lower than the previous year, 2023/24, where expenditure in this regard was £62,438. The higher value of fundraising expenditure in the previous financial year was due to the increase in fundraising activity for the #ShiftThePower Global Summit. The total funds carried forward to the financial year 2025/26 are £4,621,511 compared to £5,542,288 carried forward to the financial year 2024/25.

Page 5

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 MARCH 2025

Principal Funding Sources

institutional donors (including trusts, foundations, multilateral and bilateral donors), and, occasionally, voluntary income for appeals and campaigns. The principal funding sources for the year ended 31 March 2025 were the Charles Stewart Mott Foundation, Conrad N. Hilton Foundation, H&S Davidson Trust, Dutch Ministry of Foreign Affairs via Wilde Ganzen, Fondation Hans Wilsdorf, Foundation for a Just Society, Fund for Shared Insight, GlobalGiving, Humanity United, Porticus, Robert Bosch Stiftung and the Rockefeller Brothers Fund.

Reserves

The organization will have no designated reserves at this time given the value of the unrestricted funds held by the organization, and the Finance Group will review this quarterly.

Risk Policy

The risk policy and risk register are reviewed at each board meeting to identify any risks that have arisen and to record steps to mitigate these risks in the risk register.

Auditors

UHY Ross Brooke, Chartered Accountants are deemed to be reappointed in accordance with Section 487(2) of the Companies Act 2006.

References and Administrative Details

Refer to page 1 of the accounts.

The Report of the Directors was approved by order of the Board of Directors

Robert Ian Bird

Trustee

Date:

Page 6

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

GLOBAL FUND FOR COMMUNITY

FOUNDATIONS - THE FOR THE YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of Global Fund for Community Foundations - The and its subsidiaries (the 'group') for the year ended 31 March 2025 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 Financial Reporting Standard

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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 statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements if appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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)

GLOBAL FUND FOR COMMUNITY

FOUNDATIONS - THE FOR THE YEAR ENDED 31 MARCH 2025

Other information

The directors are responsible for the other information. The other 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 financial statements does not cover other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors Annual Report.

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

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 preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control 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 to 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)

GLOBAL FUND FOR COMMUNITY

FOUNDATIONS - THE FOR THE YEAR ENDED 31 MARCH 2025

Auditor's responsibilities for the audit 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 to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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 that we identify 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 compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Page 9

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

GLOBAL FUND FOR COMMUNITY

FOUNDATIONS - THE FOR THE YEAR ENDED 31 MARCH 2025

https://www.frc.org.uk/auditors/audit-assurance-ethics/auditors-responsibilities-for-the-audit. This description forms part

Use of our report

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 o ur audit work, for this report, or for the opinions we have formed.

Caroline Webster FCA

For and on behalf of Ross Brooke Limited, Statutory Auditor Chartered Accountants and Registered Auditors

Suite I Windrush Court Abingdon Business Park Abingdon Oxfordshire, OX14 1SY

Date 18/09/2025

Page 10

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 2025

Note
Income from:
Donations and legacies
3
Investments
4
Other
0
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net (expenditure)/income
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
15
-
-
-
-
-
funds
2025
£
-
-
-
-
-
-
-		 3,698,508
(238,406)
(238,406)
3,936,914
-
375,671
(238,406)
Unrestricted
funds
-
137,265
137,265
2025
£
-
375,671		 (682,371)
923,003
(682,371)
1,605,374
-
1,049,840
1,732,211
1,732,211
(682,371)
10,462
2025
£
Restricted
funds
1,039,378
-		 Total
funds
2025
£
1,039,378
137,265
10,462
1,187,105
2,107,882
2,107,882
(920,777)
-
(920,777)
5,542,288
(920,777)
4,621,511		 Total
funds
2024
£
2,131,858
194,715
113,205
2,439,778
3,114,670
3,114,670
(674,892)
-
(674,892)
6,217,180
(674,892)
5,542,288

The Statement of Financial Activities includes all gains and losses recognised in the year.

All activities derived from continuing operations during the above two financial periods.

The notes on pages 18 to 34 form part of these financial statements.

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 2024

COMPARATIVE YEAR INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024
Note
Income from:
Donations and capital grants
3
Investments
4
Other
0
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net (expenditure)/income
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
-
-
-
-
-
-
-
-
-
-
-
-
2024
funds
£		 Unrestricted
funds
1,018
3,936,914
(343,729)
4,280,643
(343,729)
539,462
(343,729)
-
539,462
195,733
194,715
-
2024
£		 112,187
(331,163)
1,605,374
(331,163)
1,936,537
-
2,575,208
(331,163)
2,244,045
2,575,208
-
£
2,131,858
Restricted
funds
2024		 Total
funds
2024
£
2,131,858
194,715
113,205
2,439,778
3,114,670
3,114,670
(674,892)
-
(674,892)
6,217,180
(674,892)
5,542,288

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 18 to 34 form part of these financial statements.

Page 12

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Investments
4
Other
0
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net (expenditure)/income
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
15
funds
2025
£
-
-
-
-
-
-
-
-
-
-
-
-		 Unrestricted
funds
2025
£
-
137,265
-
137,265
375,671
375,671
(238,406)
-
3,701,421
3,939,827
(238,406)
(238,406)		 Restricted
funds
2025
£
1,039,378
-
10,462
1,049,840
1,732,210
1,732,210
(682,370)
-
920,091
1,602,461
(682,370)
(682,370)		 Total
funds
2025
£
1,039,378
137,265
10,462
1,187,105
2,107,881
2,107,881
(920,776)
-
(920,776)
5,542,288
(920,776)
4,621,512		 Total
funds
2024
£
2,131,858
194,715
112,564
2,439,137
3,116,438
3,116,438
(677,301)
-
(677,301)
6,219,589
(677,301)
5,542,288

The Statement of Financial Activities includes all gains and losses recognised in the year.

All activities derived from continuing operations during the above two financial periods.

The notes on pages 18 to 34 form part of these financial statements.

Page 13

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

COMPARATIVE YEAR INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024
Note
Income from:
Donations and capital grants
3
Investments
4
Other
0
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net (expenditure)/income
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
2024
funds
£
-
-
-
-
-
-
-
-
-
-
-
-		 Unrestricted
funds
2024
£
-
194,715
1,018
195,733
535,654
535,654
(339,921)
-
3,939,827
4,279,748
(339,921)
(339,921)		 2024
Restricted
funds
£
2,131,858
-
111,546
2,243,404
2,580,784
2,580,784
(337,380)
-
1,602,461
1,939,841
(337,380)
(337,380)		 Total
funds
2024
£
2,131,858
194,715
112,564
2,439,137
3,116,438
3,116,438
(677,301)
-
(677,301)
6,219,589
(677,301)
5,542,288

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 18 to 34 form part of these financial statements.

Page 14

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee) NUMBER: NI073343

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

2025 2024
Note £ £
Fixed assets
Tangible assets 12 3,154 2,002
3,154 2,002
Current assets
Debtors 13 502,888 857,485
Cash at bank and in hand 4,222,930 4,896,362
4,725,818 5,753,847
Liabilities
Creditors: amounts falling due within
one year 14 (107,461) (213,561)
Net current assets 4,618,357 5,540,286
Total net assets 4,621,511 5,542,288
Funds
Restricted income funds 923,003 1,605,374
Unrestricted income funds 3,698,508 3,936,914
Total funds 15 4,621,511 5,542,288

The financial statements on pages 11 to 34 were approved by the Trustees, and authorised for issue on

GOXSIGIGn Robert Ian Bird pira

Trustee

Page 15

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee) NUMBER: NI073343

COMPANY BALANCE SHEET AS AT 31 MARCH 2025

2025 2024
Note £ £
Fixed assets
Tangible assets 12 2,632 2,002
2,632 2,002
Current assets
Debtors 13 502,888 856,815
Cash at bank and in hand 4,217,829 4,889,317
4,720,717 5,746,132
Liabilities
Creditors: amounts falling due within
one year 14 (101,837) (205,844)
Net current assets 4,618,880 5,540,288
Total net assets 4,621,512 5,542,290
Funds
Restricted income funds 920,091 1,602,461
Unrestricted income funds 3,701,421 3,939,829
Total funds 15 4,621,512 5,542,290

The financial statements on pages 11 to 34 were approved by the Trustees, and authorised for issue on

bexkeaNan Robert Ian Bird Bird 427WRXYY-19JV937L

Trustee

Page 16

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Net cash provided by operating activities
17
Cash flows from investing activities
18
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
(808,802)
135,370
(673,432)
4,896,362
4,222,930		 2024
(1,085,776)
194,715
(891,061)
5,787,423
4,896,362

The notes on pages 18 to 34 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 2025

1. Accounting policies

Global Fund for Community Foundations - The is a 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 principal place of business is given on page 1 and the nature of its operations are set out in the trustees' report.

1.1 Basis of preparation 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 accounts 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 102), the Companies 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 functional currency 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 basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds 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

(A Company Limited by Guarantee)

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1.4 Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is 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 fully 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 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation 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 beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

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 gives 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 support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources.

The analysis of support 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 2025

1.6 Tangible fixed assets and depreciation

Assets costing £1,000 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 assets, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment

20 percent per annum

1.7 Debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

1.8 Liabilities

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 currency

Foreign currency transactions are initially recognised by applying to the foreign 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 1 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.

Page 20

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1.11 Pensions benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

GFCF employees are contracted for employment in the country in which the live. Specific details for pension schemes are worked out depending on the relevant national regulations of the country in question. Contributions are expensed as they become payable.

1.12 Fund accounting

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 cost 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.

2 Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no critical accounting estimates 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 2025

3. Income from donations and legacies

##
2025
Grants
##
2025
Charles Stewart Mott Foundation
Conrad N. Hilton Foundation
European Union
Fondation Hans Wilsdorf
Fund for Shared Insight
Global Greengrants Fund
GlobalGiving
H&S Davidson Trust
Humanity United
Porticus
Robert Bosch Stiftung
Rockefeller Brothers Fund
0
funds
-
Dutch Ministry of Foreign Affairs (Wilde
Ganzen)
funds
-		 Unrestricted
Restricted		 Total
funds
2025
£
1,039,378
Total
funds
2025
£
-
-
495,721
-
245,000
-
-
197,874
20,000
38,547
42,236
-
-
1,039,378		 Total
funds
2024
£
2,131,858
Total
funds
2024
£
399,494
332,428
880,962
6,868
-
161,616
48,848
-
20,000
59,792
-
151,131
70,719
2,131,858
funds
funds
2025
2025
£
£
-
1,039,378
Unrestricted
Restricted
funds
funds
2025
2025
£
£
-
-
-
-
-
495,721
-
-
-
245,000
-
-
-
-
-
197,874
-
20,000
-
38,547
-
42,236
-
-
-
-
-
1,039,378

Page 22

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Investment income

£
Interest - deposits
5.
Expenditure
Comparatives for the previous year
funds
2025
-
not used
2025
-
375,671
not used
Grants to community philanthropy
organisations
Connecting the field and strengthening
the evidence base for people-led
development
Building a global #ShiftThePower
movement
Fundraising
Building a global #ShiftThePower
movement
2024
-
539,462
Grants to community philanthropy
organisations
Connecting the field and strengthening
the evidence base for people-led
development
Fundraising		 Unrestricted
Restricted
funds
funds
2025
2025
£
£
137,265
-
Activities
undertaken
directly
Grant funding
of activities
2025
2025
238,520
887,275
332,242
114,950
229,625
110,869
52,099
-
852,486
1,113,094
Activities
undertaken
directly
Grant funding
of activities
2024
2024
200,717
1,184,075
278,016
-
993,100
235,728
59,167
-
1,531,000
1,419,803		 Total
funds
2025
£
137,265
Support
2025
102,455
22,769
14,235
2,843
142,302
Support
2024
117,982
26,219
16,395
3,271
163,867		 Total
funds
2024
£
194,715
Total
2025
1,228,250
469,961
354,729
54,942
2,107,882
Total
2024
1,502,774
304,235
1,245,223
62,438
3,114,670

Page 23

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Net income/(expenditure)

2025 2024
£ £
Net income/(expenditure) for the year includes:
Depreciation 743 1,209
Net (gains) / losses on foreign exchange 160,737 116,677
Fees payable to auditor for:
2025 Statutory audit 16,200 13,302
Grant audits 6,660 5,280
2025
2024
£
£
Net income/(expenditure) for the year includes:
Depreciation
743
1,209
Net (gains) / losses on foreign exchange
160,737
116,677
Fees payable to auditor for:
2025 Statutory audit
16,200
13,302
Grant audits
6,660
5,280		 2025
2024
£
£
Net income/(expenditure) for the year includes:
Depreciation
743
1,209
Net (gains) / losses on foreign exchange
160,737
116,677
Fees payable to auditor for:
2025 Statutory audit
16,200
13,302
Grant audits
6,660
5,280		 2025
2024
£
£
Net income/(expenditure) for the year includes:
Depreciation
743
1,209
Net (gains) / losses on foreign exchange
160,737
116,677
Fees payable to auditor for:
2025 Statutory audit
16,200
13,302
Grant audits
6,660
5,280		 2025
2024
£
£
Net income/(expenditure) for the year includes:
Depreciation
743
1,209
Net (gains) / losses on foreign exchange
160,737
116,677
Fees payable to auditor for:
2025 Statutory audit
16,200
13,302
Grant audits
6,660
5,280
Charitable activities
Analysis of support costs
Support staff costs
Finance
Information technology
Rental
Human resources
Governance costs		 Grants to
community
philanthropy
organisations
2025
£
57,633
102,455
18,585
3,475
11,059
1,432
10,271		 Connecting
the field and
strengthening
the evidence
base for
people-led
development
Fundraising
2025
2025
2025
£
£
£
4,130
2,582
516
772
483
97
2,458
1,537
306
318
199
40
2,283
1,427
285
12,808
8,007
1,599
22,769
14,235
2,843
Building a global
#ShiftThePower
movement		 Total
2025
£
25,813
4,827
15,360
1,989
14,266
80,047
142,302

7. Charitable activities

Support costs are allocated based on staff time.

Page 24

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Charitable activities (continued)

Analysis of support costs (comparative)

Support staff costs
Finance
Information technology
Rental
Human resources
Governance costs		 Grants to
community
philanthropy
organisations
2024
£
27,055
4,113
8,867
60,667
117,982
11,786
5,494		 Connecting
the field and
strengthening
the evidence
base for
people-led
development
Fundraising
2024
2024
2024
£
£
£
6,012
3,759
751
914
571
114
2,619
1,638
326
1,221
763
151
1,971
1,232
246
13,482
8,429
1,683
26,219
16,392
3,271
Building a global
#ShiftThePower
movement		 Total
2024
£
37,577
5,713
16,370
7,630
12,316
84,261
163,867

8. Grants to partner institutions - Charity and Group

Unrestricted
Restricted
funds
funds
##
2025
2025
2025
£
£
Institutional Development
-
437,698
Conferences & Convenings
-
7,643
#ShiftThePower Fellowships
77,004
Ukraine war response
-
138,496
-
#ShiftThePower Global Summit
15,381
RRAN
97,679
Giving for Change
327,632
Climate Justice
11,561
-
1,113,094
Governance costs - Charity and Group
Staff costs
Board meeting costs
Other
funds
-
0
Emergency response		 Total
funds
2025
£
437,698
7,643
77,004
138,496
-
15,381
97,679
327,632
11,561
1,113,094
2025
£
35,708
9,007
23,396
11,936
80,047		 Total
funds
2024
£
940,746
-
130,844
215,265
28,065
104,883
-
-
-
1,419,803
2024
£
33,023
22,027
18,582
10,629
84,261

9. Governance costs - Charity and Group

Page 25

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Staff costs

Charity Group
2025 2024 2025 2024
£ £ £ £
Wages and salaries 115,299 113,383 156,562 161,980
Social security costs 14,848 9,392 14,848 9,392
Pension costs 7,251 6,803 7,251 6,803
Other staff/Employer of Record costs 137,398
261,376		 129,578
233,832		 178,661
261,376		 178,175
233,832
398,774 363,410 440,037 412,007
Staff numbers
Employment contract
Employer of record
The average numbers of persons (including senior
and group during the period was as follows:		 2025
No.
2024
No.
2025
No.
2024
No.
1
1
2
2
3
3
3
3
management team) employed by the Charitable Company
Group
Charity
4 4 5 5

GFCF has an international staff team. Staff are employed by employment contract in the countries in which GFCF has registered operations (United Kingdom & Northern Ireland and South Africa). Employees living in other countries are contracted through Employer of Record services to ensure that employees are employed under the national employment regulations of the country in which they live.

Employees employed by employment contract:

Executive Director United Kingdom Full time employee
Finance Director South Africa Part time employee
Employees contracted by Employer of Record services:
Director of Operations and Communications Belgium Full time employee
Knowledge Weaver & Influencing Manager Uganda Full time employee
Global Network Weaver Nigeria Full time employee

Page 26

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10 Staff costs (continued)

The number of employees who received total employee benefits (excluding employer pension costs) of more than £60,000 is as follows:

than £60,000 is as follows:
Charity Group
2025 2024 2025 2024
No. No. No. No.
£60,001 - £70,000 1 - 1 -
£110,001 - £120,000 - 1 - 1
£120,001 - £130,000 2 1 2 1

The key management personnel of GFCF is comprised of one individual. The total employee benefits of key management personnel including pensions were £128,094 (2024: £120,186).

11. Trustee remuneration and expenses

The trustees neither received nor waived any remuneration during the year (2024: £Nil).

Four trustees received expenses totalling £3,152 (2024: Nine trustees received expenses totalling £13,688).

Page 27

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. Tangible fixed assets

GROUP
Land and
buildings
Land and
buildings
Furniture and
equipment
£
£
£
Cost or valuation
At 1 April 2024
-
-
-
Additions
-
-
-
Disposals
-
-
-
At 31 March 2025
-
-
-
Depreciation
At 1 April 2024
-
-
-
Charge for the year
-
-
-
On disposals
-
-
-
At 31 March 2025
-
-
-
Net book value
At 31 March 2025
-
-
-
At 31 March 2024
-
-
-
CHARITY
Land and
buildings
Land and
buildings
Furniture and
equipment
£
£
£
Cost or valuation
At 1 April 2024
-
-
-
Additions
-
-
-
Disposals
-
-
-
At 31 March 2025
-
-
-
Depreciation
At 1 April 2024
-
-
-
Charge for the year
-
-
-
On disposals
-
-
-
At 31 March 2025
-
-
-
Net book value
At 31 March 2025
-
-
-
At 31 March 2024
-
-
-		 Computer
equipment
£
6,183
1,895
(671)
7,407
4,181
743
(671)
4,253
3,154
2,002
Computer
equipment
£
5,512
1,315
-
6,827
3,510
685
-
4,195
2,632
2,002		 Total
£
6,183
1,895
(671)
7,407
4,181
743
(671)
4,253
3,154
2,002
Total
£
5,512
1,315
-
6,827
3,510
685
-
4,195
2,632
2,002

Page 28

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Debtors

Prepayments and accrued income
Other debtors		 2025
2024
£
£
502,888
856,815
-
-
502,888
856,815
Charity		 2025
2024
£
£
502,888
856,815
-
670
502,888
857,485
Group

14. Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Other creditors
Other taxation and social security		 2025
2024
£
£
-
-
97,202
193,510
-
6,865
4,635
5,469
101,837
205,844
Charity		 2025
2024
£
£
-
-
103,014
201,227
-
6,865
4,447
5,469
107,461
213,561
Group

Page 29

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Funds

Group

General unrestricted funds
Ukraine response
Total funds
15
Funds (continued)
Climate Justice
Revitalizing Rainfed Agriculture in
India
Giving For Change Programme
Other Restricted funds
Inclusive financial eco-systems,
Tanzania
Investing in community
philanthropy as a development
strategy
Advancing Practice in Meaningful
Participation
Strengthening #ShiftThePower
movement		 £
3,936,914
447,314
7,387
216,671
219,516
435,025
214,993
39,100
25,368
-
1,605,374
5,542,288
Balance at 1
Apr 2024		 Income
£
137,265
69,008
-
-
-
495,722
-
42,236
197,874
245,000
1,049,840
1,187,105		 Expenditure
£
(375,671)
(435,159)
(7,387)
(161,853)
(161,776)
(706,256)
(5,297)
(52,663)
(182,761)
(19,059)
(1,732,211)
(2,107,882)		 £
-
-
-
-
-
-
-
-
-
-
-
-
Transfers		 £
3,698,508
81,163
-
54,818
57,740
224,491
209,696
28,673
40,481
225,941
923,003
4,621,511
Balance at 31
Mar 2025
.
Comparative information in respect of the preceding period is as follows:
Income
Expenditure
£
£
£
General unrestricted funds
4,280,643
195,733
(539,462)
403,842
640,216
(596,744)
9,093
80,276
(81,982)
-
316,681
(100,010)
644,514
-
(424,998)
133,275
880,962
(579,212)
431,167
-
(216,174)
87,130
-
(48,030)
Ukraine response
227,516
64,030
(266,178)
-
261,880
(261,880)
1,936,537
2,244,045
(2,575,208)
Total funds
6,217,180
2,439,778
(3,114,670)
#ShiftThePower Summit
Strengthening #ShiftThePower
movement
Revitalizing Rainfed Agriculture in
India
Giving For Change Programme
Investing in community
philanthropy as a development
strategy
Advancing Practice in Meaningful
Participation
Balance at 1
Apr 2023
Other Restricted funds
Inclusive financial eco-systems,
Tanzania		 £
-
-
-
-
-
-
-
-
-
-
-
-
Transfers		 £
3,936,914
447,314
7,387
216,671
219,516
435,025
214,993
39,100
25,368
-
1,605,374
5,542,288
Balance at 31
Mar 2024

Page 30

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Funds (continued)

Charity
Income
Expenditure
£
£
£
General unrestricted funds
3,939,827
137,265
(375,671)
Restricted general funds
1,602,461
1,049,840
(1,732,210)
Total funds
5,542,288
1,187,105
(2,107,881)
Comparative information in respect of the preceding period is as follows:
Income
Expenditure
£
£
£
General unrestricted funds
4,279,748
195,733
(535,654)
Restricted general funds
1,939,841
2,243,404
(2,580,784)
Total funds
6,219,589
2,439,137
(3,116,438)
Balance at 1
Apr 2024
Balance at 1
Apr 2023		 £
-
-
-
£
-
-
-
Transfers
Transfers		 £
3,701,421
920,091
4,621,512
£
3,939,827
1,602,461
5,542,288
Balance at 31
Mar 2025
Balance at 31
Mar 2024

General unrestricted funds are the net proceeds of a one off donation of £4,260,281 received in November 2022.

Other Restricted funds - Funds are restricted for the core activities of the Charity within specified funding periods between 12 and 24 months, set out in the donors agreement documents.

Inclusive financial eco-systems, Tanzania - Funds restricted to activities specified by the donor agreement and identified in the appeal documents to the donor, to be implemented in a specific time period and country.

Strengthening #ShiftThePower movement - Funds are restricted to activities that are specified by the donor agreements and identified in the appeal documents to the donors, to be implemented within specified funding periods.

Revitalizing Rainfed Agriculture in India - Funds restricted to activities specified by the donor agreement and identified in the appeal documents to the donor. To be implemented in a specific time period and country.

Giving For Change Programme - Funds are restricted to activities specified by the donor agreement for the Giving For Change programme and identified in the appeal documents to the donor, to be implemented in a specified funding period and in specified countries.

Investing in community philanthropy as a development strategy - Funds are restricted to activities that are specific to the strategy outlined in the appeal documents to the donors and to the agreed activities, funding periods and countries stipulated in the donors agreement

Advancing Practice in Meaningful Participation - Funds are restricted for the activities specified by the donor and identified in the appeal documents to the donor, to be implemented in a specified funding period.

Ukraine response - Funds are restricted for the activities specified by the donors agreements to support community foundations in Ukraine and surrounding countries, to be implement within a specified funding periods.

Climate Justice

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GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Analysis of net assets between funds

Group

Unrestricted
funds
2025
£
Fixed assets
Current assets
Creditors due within one year
-
Analysis of net assets between funds - prior year
Unrestricted
funds
2024
£
Fixed assets
Current assets
Creditors due within one year
-
Charity
Unrestricted
funds
2025
£
Fixed assets
Current assets
Creditors due within one year
-
Analysis of net assets between funds - prior year
Unrestricted
funds
2024
£
Fixed assets
Current assets
Creditors due within one year
-		 Unrestricted
funds
2025
£
-
3,698,508
-
3,698,508
Unrestricted
funds
2024
£
-
3,936,914
3,936,914
Unrestricted
funds
2025
£
-
3,701,421
-
3,701,421
Unrestricted
funds
2024
£
-
3,939,829
-
3,939,829		 Restricted
general
funds
2025
£
3,154
1,027,310
(107,461)
923,003
Restricted
general
funds
2024
£
2,002
1,816,933
(213,561)
1,605,374
Restricted
general
funds
2025
£
2,632
1,019,296
(101,837)
920,091
Restricted
general
funds
2024
£
2,002
1,806,303
(205,844)
1,602,461		 Total
funds
2025
£
3,154
4,725,818
(107,461)
4,621,511
Total
funds
2024
£
2,002
5,753,847
(213,561)
5,542,288
Total
funds
2025
£
2,632
4,720,717
(101,837)
4,621,512
Total
funds
2024
£
2,002
5,746,132
(205,844)
5,542,290

Page 32

GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Reconciliation of net expenditure to net cash flow from operating activities

Adjusted for:
Interest receivable
Depreciation and impairment of tangible fixed assets
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash provided by / (used in) Operating Activities
18.
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by / (used in) Operating Activities
19.
Analysis of cash and cash equivalents
Cash in hand and at bank
Total cash and cash equivalents
Net income / (expenditure) for the reporting period (as per the
statement of financial activities		 2025
£
(920,777)
(137,265)
743
354,597
(106,100)
(808,802)
2025
£
(1,895)
137,265
135,370
2025
£
4,222,930
4,222,930		 2024
£
(674,892)
(194,715)
1,209
(400,455)
183,077
(1,085,776)
2024
£
-
194,715
194,715
2024
£
4,896,362
4,896,362

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GLOBAL FUND FOR COMMUNITY FOUNDATIONS - THE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. Analysis of changes in net debt

Cash At 1 April
2024
£
4,896,362
4,896,362		 Cashflows
£
(673,432)
(673,432)		 At 31 March
2025
£
4,222,930
4,222,930

21. Related party transactions

Unrestricted donations totalling £Nil (2023: £Nil) were received from trustees.

Grants totalling £20,301 and expenses of £12,882 were paid to Indonesia for Humanity, a charity to which K Chandrakirana is also a trustee.

Grants totalling £15,381 and expenses of £1,788 were paid to Community Foundations of Australia, a charity to which R Bird is a Executive Director.

Grants totalling £19,299 were paid to Solidarity Foundation, a charity to which S Chacko is also a trustee.

Expenses of £884 were paid to Urgent Action Fund South Asia, a charity to which S Chacko is also an advisor.

Page 34