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THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets Investments 14 15 101,697 25.559.924 109,373 21,926.712 25.661,621 22,036,085 ulnt assets Debtors Cash at bank and in hand 16 311.772 5.903.441 278.352 18,733,415 6,215.213 19,011,767 Creditors: amounts falling due within one year 17 (1.290.730) (1,987,656) Net current assets 4,924.483 17,024,111 Total assets less current liabilities 30.586,104 39,060,196 Net assets exGluding pension liablllty 30,586.104 39.060,196 The funds of the CharEty Endowment funds Restricted incorne funds Unrestricted funds 20 19 22,979,926 6.813,996 792,182 19,398,645 18,738.569 922,982 30,586.104 39.C60,196 The finan¢ial statements were approved by the Trustees on 27 September 2024 DrAdrian Johnston Trustee 13-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating actlvltles Cash absorbed by operations 27 (11,454.065) {9,730,880) Investlng activitles Purchase of tangible fixed assets Purchase of investments Proceeds from disposal of investments Investment incorne received {8.642) (3.163.821) 3,106.519 477.988 {29,319) (943,283) 8.667,271 462.386 Net cash generated from Investlng activities 412,044 8.157.055 Flnancing activllles (Decreasefincrease in investment cash (1,787,954) (3.612,939) Net cash used In flnanGlng activities (1.787.954) (3.612,939) Net decrease in cash and cash equlvalents (12.829.975> (5,186.764) Cash and cash equivalents at beginning of year 18.733.415 23,920.179 Cash and cash equFvalents at end of year 5,903.440 18,733,415 14-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charfty infonnation The Community Foundation for Northem Ireland is a registered charity in Northem Ireland. The registered office is Community House. Citylink Business Park. 6a Abert Street, Belfast. Co. Antrim, BT12 4HQ. 1.1 Accounting conventlon The financial statements have been prepared in accordance wth the Charity's goveming document, the Charities Act 2011, FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of Ireland. fFRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" {effecb've 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of RecommÈnded Practice which is referred to in the Regulations but which has Sin been withdrawn. The financial statements are prepared in sterfing, which is functional currency of the Charity. Monetary amounts in these financial ststements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified to include the revaluation of freehold properties and to indude investment properties and rtain financial instruments at fair value. The princtpal accounting poliaes adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitsble objectives. Reslricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial siaternents. Endowment funds are subject to specific condttions by donors that the capital must be maintained by the Charity. 1.4 Income Income is recognised when the Charity is legally entitled to it after any perfomance conditions have been met, the amounts Gan be measured reliably. and it is probable that income will be received. Cash donations are recognised on reipt. Other donations are recognised once the Charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations rece5ved under Gift Aid or deeds of venant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution. the amount is known. and recetpt is expected. If the amount is not known. the legacy is treated as a contingent asset. 15-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) 1.5 Expendlture Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit to a third paty. it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is dassified by aCtillty. The costs of each acbwty a made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributsble to a single activity are apportioned between those aGlivities on a basis consistent wth the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the of the a5seVs use. 1.6 Tangible fixèd assets Tangible fixed assets a initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impaient losses. Depreciation is recognised so as to vfflte off the cost or valuation of assets less their residual values over their useful lives on the following bases- Freehold land and buildings Fixtures and fittings Computers 2% straight line 20% straight line 330A straight line The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carying value of the asset. and is recognised in the statement of financial activities. 1.7 Fixed asset Investments Fixed asset investments are initially measured at transactton price excluding transaction costs, and are subsequently measured at fair value at each reporbng date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transa¢ts'on costs are expensed as inGurred. 1.8 Impalnnent of fixed assets At each reporting end date. the Charity reviews the carrying amounts of its tangible assets to detemiine whether there 15 any indication that those assets have suffered an impainnent loss. If any such indication exists, the recoverable amount of the asset is estimated in ¢yder to detemine the extent of the impaiment loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call wtth banks. other short-tem liquid investments with original maturtties of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowngs in Current liabilities. 1.10 Financlal Instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instwments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wth the net amounts presented in the financial ststements. when there is a legally enfortsable right to set off the recognised amounls and there is an intention to settle on a net basis or to realise the asset and settle the liabilty simultaneously. 16-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Baslc financial assets Basic financial assets. which include debtors arKI cash and bank balances, are initially measured at transaction price including transaction costs and are subsequenuy carried at amortised cost using the effective interest method unless the arrangement constitutes a ffinancing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial Ilabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitLrtes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a marf(et rate of interest. Financial liabiltknes dassified as payable within ¢)ne year are not amorti5ed. Debt instruments are subsequenly carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassthed as current liabilities rf payment is due wlthin one year or less. If not. they are presented as non<urrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of finan¢ial Ilabllities Finanaal liabilities are derecognised when the Charity's Contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday errtitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.12 Retirement benefrts Payments to defined contrilxrtion retirement benefft schemes are charged as an expense as they fall due. 17-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal acGountlng estlmates and Judgements In the application of the Charity's accounting policies. the Trustees are required to make judgements, estifflates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may drffer from these estimates. The estimates and underfying assumpb'ons are reviewed on an ongoing basis. Revisi¢Jns to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future peri¢)ds where the revision affects both current and future periods. Income from donations and legacies Unrestricted Restricted Endowment funds funds funds Total Total 2024 2024 2024 2024 2023 Donations and gifts 193,158 1.509,638 2,865.582 4,588.378 1,802,573 Income from charitsble aGtivltles Unrestricted Restrfcted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Charitable acllvlties Funding received 33,456 1,620.733 1.654.189 171.124 1.996,509 2,167,633 18-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from chafltable activities {Contlnued) Fundlng received: Charitable actfvitles 2024 Charitable actlvltles 2023 Acom Fami Programme Axa Parks Fund Bank of Ireland Cost of Living Fund Civic Innovation & Grassroots Leadership Empowering Change Programme Housing & Homeslessness Innovation & Voice Programme Human Rights Fund Micro Grant Fund National & Cultural Heritage Fund Nothing About Us 104lthout Us Programme Peace Impact Programme Queen's Platinum Jubilee Fund RTE Toy ShowAppeal Co-op Fund Red Cross FRIS Community Activity Fund Wesleyan Foundation Other 309,407 549 127,437 281,297 95,251 10,000 518.000 25,000 282,853 250,000 103.298 125,000 100.828 37,690 70.000 234,295 211,281 110,000 329,413 82,500 66,000 37,800 35,136 304.509 37,800 36,478 1.654.189 2,167.633 Income from Investments Endowment Endowment funds nds 2024 2D23 Investment income 477,988 462,386 Expenditure on raising funds Unrestrlcted Restrlcted Endowment funds funds funds 2024 2024 2024 Total Total 2024 2023 Fundralslng and publiclty Fundraising costs 107.954 6,302 72.289 186.545 280,575 19-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charitsble actlvltks Charitable actlvities 2024 Charitable activities 2023 Direct costs Grant funding of adivities (see note 8) 14.519,562 12.468,969 Share of support and governance costs (see note 9) Support Govemance 2.246.760 9,738 1,881,015 44,238 16,776,060 14,394.222 Anatysls by fund Unrestricted trjnds Restrtcted funds Endowment funds 984.053 15.695,574 96.430 1,286.610 13,106,962 650 16,776.057 14,394,222 The Community Foundation approved 651 grants totsllirg £4.921.072 (2023: 783 grants totalling £8,326.037) to tt%e voluntary and c(Nnmunity sector during the year. Grants payablo Charitable activities 2024 Charitable activities 2023 Grants 14.519,562 12,468,969
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to actlvftles Charitable activities 2024 Total 2023 Advertising Archiving and Shredding Assessment & verificakn.on Bad Debts Bank Interest & Charges Building SeNices Charge Childcare Vouchers Cleaning Communications & Marketing Conferences & Seminars Consultancy & Techical support Depreciab'on Charge Employee Leave Employels Social Security Equipment Hire Evaluation Facilitalion, Mentoring and Support Health and Safety Heat & Light Hospitality Insurance IT Support Loss on Disposal of Fixed Asset Memberships and Subscriptions Payroll Services Pension Postage Printing & Publications Professional & Legal Fees Recruitment Costs Rent and Rates Repairs & Maintenan Research Salaries Small Equipment Staff Developfflent, Training and Wellbeing Stationery Sundry Telephone Temporary Staff Training {Extemal) Travel & Subsistence Goveman¢e 2,606 748 11,476 2,698 1,382 43,915 1.951 2,570 16,233 1,172 34,173 2.052 52 13.536 41,069 37,977 13.292 5.076 76,035 2,399 76,028 243,081 5,444 209 929 34,686 33,680 12.152 55,223 8,775 16.674 (8.561) 105,303 2.043 103,584 307.383 1,116 37,190 59,056 (359) 20.349 1,075 123,770 1,262 1,039 5,582 970 27.939 694 16,509 1,033.060 940 12.529 3.342 792 18.501 23,950 1,051 50,566 1,663 1,172 7,595 26,799 2,203 46,625 889,963 1,072 13.968 4,715 450 25,201 3,199 109,484 31,646 44,238 191.283 22,763 9,738 2,256.498 1,925.253 -21
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities (Contlnued} 2024 2023 Governance costs comprise: Audit fees Conference and travel Costs Consultancy Training 6,500 2,404 420 414 6.420 9,799 28,019 9,738 44.238 10 Net movement in fund5 2024 2023 The net movement in fvrKls is stated after chargingl(crediting)". Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets 6.500 16,316 6.420 13,292 11 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Operations Fundraising and Communications Grants and Programmes 19 17 Total 30 28 Employment costs 2024 2023 Wages and salaries Social security costs other pension costs 1,102.248 112,338 131,894 1,013,426 98,788 60,908 1,346,480 1,173,122 The number of employees whose annual remuneration was more than £60,000 is as follows.. 2024 Number 2023 Number £60.000 to £69,999 -22-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employees (Continued) Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Aggregate compensation 388,849 363,767 The key management personnel of the charity comprise the Truste8S. the Chief Execthive Officer, Director of Op8rations, Director of Programmes, Director of Development and C¢)rnmunications, and Director of Grant- Making. The Chief Executive's salary is set following independent advice and a review of similar posts in the sector. The remaining staff salaries, induding key management personnel, are aligned to the NJC salary scales an(J are set using guidance provided by NICVA. The Foundation regularfy participates in benchmarking exercises to ensure our salary levels are in line v*ith other charities. 12 Galns and losses on Investments Endowment Endowment funds funds 2024 2023 Gainsl(losses) arising on: Sale of investments 1,787,955 (902.7341 13 Taxatlon The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. -23-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Tanglble fixed assets Fmhold land Flxturns arml Computars d Iwlbthni"s fittlngs Total Cost At 1 April 2023 Additions 148,619 204.422 1,524 229,433 7,118 582,474 8,642 At 31 March 2024 205,946 236.551 591,116 Depreciation and Impairment At 1 April 2023 Depreciation charged in the year 73,019 2.800 189.865 3,467 210,217 10,049 473,101 16.316 At 31 March 2024 75.819 193,333 220,267 489.419 Carrylng amount At 31 March 2024 72.800 12,613 16.284 101.697 At 31 March 2023 75.600 14,557 19.216 109,373 15 Flxed asset investments Listed Charity bank Investments Investment Deposlt accounts Cash Total Cost or valuation At 1 April 2023 Additions Net decrease in investrnents held as cash Net gain on investrnent assets Disposals 19,293.842 3.163,821 250.000 1,937,962 99,923 444,908 1.339,634 21,926,712 4,603.378 267.153 267,153 1,787.955 (3,025,274) 1,787,955 (3.025,274) At 31 March 2024 21,220.344 250.000 2,037.885 2,051,695 25.559,924 Carrylng amount At 31 March 2024 21,220.344 250.000 2,037,885 2,051,695 25,559,924 At 31 March 2023 19.293.842 250.000 1,937.962 444,908 21.926,712 -24-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Fixed asset Investments (Continued) 2024 2023 Investments at market value comprise.. UK unit and investment trusts UK equities Overseas Direct Equities GILTS UK Direct Corporate Bonds International Bonds Overseas Direct Fixed Income Property Altematives Investments held as cash Charity Bank Shares UK long term dep08it accounts 70,228 3,999,635 8.377,647 2,579,309 1.225,021 496,688 1,237,014 734,545 2,500.257 2.051,695 250.000 2,037,885 83.032 3,996,545 8,155.854 1,258,638 1,214,248 460,526 703,908 594,849 2,826,242 444.908 250,000 1,937.962 25,559,924 21,928,712 Charity Bank Shares 2024 2023 Historial cost at 31 March 2024 Shares Deposits Charity bank Cash 17,400,268 2,051.695 250,000 2,037.885 16,574,734 444,908 250.000 1.937,962 21,739.848 19,207,604 16 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and acwed income 265.892 45.880 259,002 19.350 311.772 278,352 -25-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Creditors: amounts falling due wlthln one year 2024 2023 Note5 Other taxation and social 5e¢)Jrity Government grants Trade creditors Other creditors Accruals and deferred income 27,224 13,400 97,864 26,465 1,480 163,624 250 1,795,837 1.152,242 1,290,730 1,987,656 18 Unrestricted funds The unrestricted funds of the charity compnse the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to h¢)w they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Trdnsfers At 31 March 2024 Community Foundation Designated Fund Other 33,886 889.096 17.067 717,526 50.953 741,229 226.614 (1.092,oon 922.982 226,614 (1.092,007) 734,593 792.182 Previous year: At 1 Aprll 2022 Incoming resources Resources expended Transfers At 31 March 2023 General funds 957.048 429.512 11.484.989) 1,021.411 922,982 Ternilnation of employment This fund is intended to provide for the redundancy costs which the Foundati¢)n would incur if there was significant decrease in the level of ts fijnding and as a result. any of the existing stsff who ar8 presently employed on time lirnited contracts were made redundant at or before the expiry of their contracts. -26-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2023 Incoming resources Resources expended Transfe At 31 March 2024 Acom Climate Action Fund Acom Fami Programme Axa Parks Bank of Ireland Cost of Living Fund Civic Innovation & Grassroots Leadership Programme Comic Relief Empowering Change Community Innovators DOH Cancer Support Fund DOH Carers Support Fund DOH Mental Health Support Fund Fibrus Fund Human Rights Revenue Fund Kingsbridge Foundati¢)n New Voices Programme Nothing About Us Imthout Us Programme Oak Housing & Homelessness Innovation & vol Programme Peace Impact Programme Red Cross FRIS Community Activity Fund RTE Toy Show Appeal Other funds 22,107 55.453 23.953 (24.710) (295,078) {45.575) 2,61)3 309,407 69,782 21.622 87,742 187.742) 132,680 {112.055) (7.007} 13.618 18.061 25,000 (91,454) 10,876 (3,527,278) {1,895.394) 54,298 (11.840) 5,905 5,408.301 2.674,543 1,881,023 779.149 6.983.140 28.557 591.063 78,194 128.448 {5,833,229) {58,669) {627.364) (116.250) 185,098) 1,149,911 30,112 250.300 56.800 22.500 91.010 305.009 18,744 65,850 70.000 (4.10n 30,000 95,893 208.494 (8,¢J42) 282.853 234.295 (374,525) (234.197) 116,822 11.000 420,293 1.873.618 (11,000) (374.949) (1,914,078) 289,284 1.559,821 334,628 1,977,663 458.302 18.738.569 3,130.371 115,701,876) 646,932 6,813,996 Prevlous year: At 1 April 2022 Incomlng resources Resources expended Transfers At 31 March 2023 26,944.700 3.537,575 (13.108,949) 1.365,243 18,738,569 -27-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Endowment funds Endowment funds represent assets which must be held pemianently by the Charity. In¢ome arising on the endowment funds can be used in accordance the objects of the Charity and is induded as unrestricted income. Any Gapital gains or losses arising on the assets fom part of the fund. At 1 April 2023 Incomlng resources Resources expended Transfers Gains and At 31 March losses 2024 Endowment funds Capitsl Endowment Fund Legacy Mat Fund 19,298,645 3,343,570 (168.719) (1.526,525) 1.787,955 22.734,926 100.000 145,000 245,000 19.398.645 3.343.570 {168.719) (1,381.525} 1,787.955 22.979,926 Previous year. At 1 Aprll 2022 Incoming resources Resources expended Transfers Gains and At 31 March losses 2023 Endowment funds Capital Endowment Fund Legacy Match Fund 22.203,387 465.505 (80.859) (2,386.654) (902.734) 19,298.645 100.000 100.000 22.303.387 465.505 (80.859) (2,386,654) 1902,734) 19,398.645 Legacy Match Fund This fijnd is intended to provide match funding for future gifts in wills to support the charitable activities of the Foundation in fijture years. 21 Relirement benofft schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 131.894 60,908 The Charity operates a defined conlribution pension stheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. In the finanal year ended 31 March 2024, the Community Foundation changed to a salary sacrifice pension scheme. thereby the pension contributions for the year indude employees, salary sacrifice contributions. -28-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Contingencles Under the ternis of rtain grants. a liabilty may arise to paY in ole or in part grants received if certain conditions in the grant agreement are not complied with. In the opinion of the Trustees the temis of all letters of offer have been complied with and a liability is not expected to arise. 23 Commitments The Foundation's contractual obligab'ons afising through offers of grants made in respect of which either the acceptance period has not lapsed or the conditions had not been fulfilled at the year end are as follows". March 2024 March 2023 5,102,077 14,201.354 Grant Offers Operating Leases- within one year Operating Leases - between two and five years 28.539 90.756 26,839 24 Trustees No fees are paid to Trustees for their senlices as board members. Direcdy incurred expenses are reimbursed, rf claimed. Four trustees were reimbursed for expenses amounting to £1,182 (2023: £2,145}. No other expenses were paid on behalf of any Trustee (2023: £Nil). 25 Post balance sheet events There were no post balan sheet events for the year ended 31 March 2024. -29-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Related party transactions Transactlons with related partles Related parties include the charitys Trustees arKI their close family rnembers and those entities which they control or in which they have a significant interest. Persons who are not Trustees but who have a significant influence over a charity's deasion-making are a150 treated as related parties. These include staff to whom the Board of Trustees have delegated deosion-making aLthority for some transactions. The interests below are all recorded in the Foundation's Register of Interests (2023.. £215,202). Name & Role Related Party nterest ature ansaction Paymen drian Johnston Chair atalyst Employee rant payments £37.000 iaran Moynagh Rainbow Project rustee rant Payments £145,813 rustee rla Black ICVA rustee raining Contract £176,644 Grants D1ctOr Rhyannon Blythe Ictim Support Nl rustee rant Payments £69,412 rustee Suzanne Lagan ueens University Employee rant Payments £22.50 rustee £451,369 None of these Trustses or staff were involved in the decision-making processes which resulted in the financial transactions above.
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 27 Cash generated from operations 2024 2023 Defictt for the year (8.474,092) (11,144.9391 Adjustments for. Investment income re¢ognised in ststement of finan¢ial activities (GainlAoss on disposal of investments Depreciation and impaiment of tsngible fixed assets {477,988) (1.787.955) 16.316 (462,3861 902.734 13,292 Movements in WOng capitsl: (Increase) in debtors (Decreaseifincrease in Creditors (33.420) (696,926) (48.936) 1,009,355 Cash absortd by operations (11.454.065) (9,730,880) 28 Analysls of changes in net funds The Charity had no material debt during the year. -31