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:
- Amitabh Behar (Resigned 31 August 2024)
- Robert Ian Bird (Chair)
- Shubha Chacko
- Kamala Chandrakirana
- Laura Garcia (Resigned 31 December 2024)
- Barbara Jane Klugman
- Felecia Lucky
- Bharat Mehta
- Catherine Rodgers
- Tamás Scsaurszki
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:
- 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;
- d) 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 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:
- Give a true and fair view of the state of the charitable company's affairs as at 31 March 2025, and of their incoming resources and expenditure of resources, including their income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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:
- 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
## **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:
- adequate accounting records have not been kept;
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
- take advantage of 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 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:
- 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;
understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected, and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with 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 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**
Page 31
**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|
|---|---|---|
Page 33
**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