Charfty registratlon numbor NIC105105 INorth8rn Ireland) THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND LEGAL AND ADMINISTRATIVE INFORMATION Trusteès Mary McKee DrAdrian Johnston Dr Jane Wilde Ciaran Moynagh John Gordon Dr Sophle Long Rhyannon Blythe Caolan Ward Justin Kouame Gerard Deane Sarah Andr8WS Adele Brown EJ Havlin Stephen Rusk (Appointed 27 March 2025) (Appointed 27 March 20251 (Appointed 27 Mar¢h 20251 (Appolnted 27 March 2025} Charlty number NIC105105 Roglstered offlce Communlty House Cilyllnk Buslness Park Alb8rt Streat Belfast BT12 4HQ Audltor HM Chartered Accountants 6th Floor East Tower Lanyon Plaza 8 Lanyon Place Belfast Co. Antrim BT13LP Bankers AIB Universlty Road Belfast BT7 1NH Sollcitors Edwards & Co Solicitors 3 Floor, Sessla House 61-67 Donegall Street B8lfasl BT12QH Investment advlsors Ralhbones 15th Floor, City Quays 3 92 Donegall Quay Belfast BT13FE
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND CONTENTS Page Trustees, report Ind8P8ndent auditorfs report 9-12 ststemenl of financlal activitles 13 Statement of financial posltlon 14 Statement of cash flows 15 Notes to the financlal staternents 16-33
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statemen15 have been prepared in accordance with the accouriling policies set out in note 1 lo the financial slatemenls and comply with the Charity's governing document. the Charities Act 2008 and "Accounllng and Reportlng by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounls Sn accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 1021" (effective 1 January 20191. Objectlves and activltles The Community Foundation for Nl is a local, Independent charitable trust that provides grants and support to local communilles in Northern Ireland. We help communities in need, drive social change and change Ilves, through mpactful grant-making, research, strategic partnerships and delivering innovative programmes. Supporting béspoke giving and providing philanthropic advice we arè a trusted, secure means through which donors choose how, when and where lo give and we provide a range of management and grant-making services for charitable funds. Vision Our vislon is a fair and 8qUitable soci8ty for everyone. The Communlty Foundation wants lo see a place where generoslty and falrness changes Ilves, Communities flourlsh, and everyone fee15 they belong. Mlsslon Our mission 58 working hand in hand wllh communities lo build a belter future. Working collaboratively to influence policy. advocating for communitie5. and using impact and knowledg8 to inform practice and policy, are our key drivers, enabling us to mak8 the changes we want to see. strategy and Key Objectives We have just completed year Iwo of our three-year strategy, covering the p8riod April 2023 to March 2026. We are commilled to being tru8 to our values of Ambition. Passion and Integrity and lo conlinually adapting to moet our community's needs. Wè believe that involves working on the following prlonties.. Engaglng and supporting communities and promoting community voice., Advancing div8rslty, equity and inclusion for our sector,. Improve well-being., Encouraging and securing div8rse fundlng streams, partlcularly Independent and Iransformalional funding Into the VCSE Sector. Grant4naklng Strategy As a grant-maklng charity, our focus is to make grants that help support important causes in Northern Ireland. We manage grant funds from a range of donors and funders, and we listen to their views on how they want their funds to be used. Our vision for our grant making is lo develop trust-based relationships that are strong, connected, lislen8d to, and seNed. Our grant making is underpinned by the following values.. Flexibility Agility Relational Risk taking Inclusion Influencing Our grant processes set out the decision-making authority for different funds and ensurg that all grant applicants are treated fairly and equitably.
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Public benefit The Communlly Foundatlon for Northern Ireland provides grants and community development support to local communities to enable them to address issues of social justice. All grants are awarded on the basis of evidence that the funding will have a positive Impact on the local community and the beneficiaries. Thè proventlon or rellef of poverty.. Grant5 lo disadvantaged communities will provide support and facilllies in these areas, providing local people with improved access to benefits advlce and support and training to develop their skills to gain employment. The advancement of education: Grants to individuals and organisations will enable them to accéss training and skills to develop their learning and improv8 Ihoir employment prospects. The advancement of health or the saving of Ilves: Grants lo organisalions will enable local people to ac¢88S activities such as physical activities and healthy 6aling awareness programmes that will improve Ihelr health and well-being. The advancement of cltizenshlp or communlty dèvelopment: Grants to communlties wlll brlng local people together to develop facilities and seNices in their local area that will improve their well-b8lng and social Inclusion. The advancement of the arts, culture, herltage or sclence: Grants to Individuals and organisations will enable people lo access the arts and take part in music, drama, crafl workshops and other actlvities that wlll improve their social inclusion. skills and well.belng. The advancement of human rlghts, confllct resolutlon or reconclllatlon or the promotlon of roliglous or racial harmony or equallty and diverslty: Grants lo organisations will @nable these organisations to address Issues of social justice and human rights in their communities and engage in capaclly building lo address conlenlious Issues in inlerfa¢è communities. This wlll improve the safety 8nd well-being of local people. Tho advancement of environmontal protection or Improvement.. Grants and support to organlsallons will enable Ih8se organisations to address issues relating to protecting or improving the environment and engage in cllmate action. The reliof of thvse In need by reason of youth, age, ill-hoalth, disabllity. flnancial hardshlp or other disadvantage.. Grants lo Individuals and organisalions will enable local people to access support and activit18S which address Iheir needs, thus reducing their isolallon, improving Iheir social inclusion and well-being. The above benefits are demonstrated through r8search, feedback and evaluations taken from our donors, funders and grantees and the g6neral community. Th6re is no haim or potential for harm as a result of our purpos8s. Network and other rélatlonships The Community Foundation is active in a number of local and internation81 networks. We believe that our m@mbership of these networks and organisalions provides important shared learning as well as reciprocating the support that Northern Ireland has gleaned from international intèrest and donors over past years.
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Rlsk Management The Trustees have a risk management strategy which cornprises.. identifi¢ation and regular review of the risks the Foundation may face., the establishment of systems and procedures to mitigat8 those risks identifiéd in the plan; th8 implementation of procedures designed to mlnlmisg any potential impact on the Foundation should those risks materialise. The Trustees have Idéntifled the followlng risks and have action plans in place to manag8 the risks.. Fallure to deliver community Impact through our grant-making and programmes., Abuse suffered by one of our staff or stakeholders; Engagement In, or support for activities Ihat damage our reputation., Fallure to relain and attract new donors., Failure to lislen lo communities and understand community needs., Inadequate or ineffective governance structures and slrategy., Fallure to comply wlth legislation., Ineffective or inefficient management of staff, systems and resources: The imp8Gt of exlernal factors such as the cosl-of-living crisis, the global economy, health pandemlcs, cybér threats and cllmale change. on our aclivlties and our ben8ficiaries. The task of monitoring the Foundation's financial control systems and procedures Is delegaled to the Finance and Resources Committee. Achlevements and pertormance We are a granl-making charity with a focus on making grants that help the most marginalised and vulnerable people in Northèrn Ireland. We provide support lo communilies in Northern Ireland through small and large revenue grants across a range of themes and issues, as well as providing grants and support lo communlly group5 through a range of different grant-making and support rnodels. Our Team We feel very fortunate to have a fantastic team of staff who are committed to making a diffèrence to local people In Northern Ireland and lo living our values of Ambition, Passion and Integrity. We are conlSnuing to develop award- winning workplace wellbeing and encourage our staff lo have a positive work-life balance and to priorlllse their health and wellbeing. Please cllck here for a link to our report on our aGh18vements and Impact for 2024125 Annual-Re 0rt-2024-25. df Financial revlow The Foundallon received income from various sources, Including other Foundations and Trusts, private donors and the slalulory and private sectors. In addition, the Foundation ulilises some of the income from its (invested) endowmenl funds to meet some of its core costs. In 2024125, the principa5 sources of income came from the Baring Foundation, Comic Relief, Department of He311h. Henry Smith Foundation, International Fund for Ireland, National Lollery Community Fund, Oak Foundation, RTE Toy Show Appeal, Sigrid Rausing Trusl, in addition to local companles and private individuals. The Statement of Financlal Activlties on Page 13 indlcates that the Foundation had income of £4,541,085 whlch was exceeded by expenditure of £8,365,355 by £3,824,270. Gains on investments were £17,221. The Balance Sheet on Page 14 shows that the Foundation had total funds of £26,779,055 at 31 March 2025 (2024.. £30,586,104}. Unrestricted funds available to the Foundation al the Balance Sheel dale totalled £834,060 12024., £792.1821. Unrestricted funds include £50,095 of designated funds. Restri¢ted funds amounted to £3.883,004 {2024.' £6,813,996). The Foundation's capital endowment funds weré £22,061,991 at the year-end 12024., £22,979.9261.
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ReseThies Policy The Trustees take a risk-based approach to selling our reseNes requirements for the following year. Income projectlons are considered in terms of value and certainty. Income that Is deemed high or medium rlsk is "uncertain. and Is therefore provided for in our reseNes. If we do not meet our Income targets for high and medium risk income for 2025-26, we have id8ntified the shortfall in funding that may exlst and d8sSgnaled £100,000 from our Communlty Foundation Endowment Funds as a general reserve to cover the next year's expenditure requlrements. The balance on unrastricted reseNes at Ihe year-end was £834,060. This includès a designated fund of £50,095 to meet the costs of redundancy payments in the èvenl of staff on fixed-lerm contracts b&ing mad6 redundant. The balance of unreslricled funds once this designated fund is deducted is £783,965. These funds have been earmark8d for unrestricted grant-maklng and a number of projects over the next year. Reserves Pollcy - r8strl¢ted funds It Is the policy of the Trust888 to hold any funds received for a speclflc purpose as restrScted funds. Reserves Pollcy- Capltal Endowment Fund It is th8 policy of th8 Trustees lo hold the capital fund as a restricted fund with the aim of ensurin9 a suitable income stream lo finance the ongoing work of the Foundation. The capital fund is represented by a portfolio of inv8Stments in equities, bonds, managed funds, property and cash products. During 2022123 we launched a match funding initiative to support legacy donations lo the Foundation. We have ring-fenced match funding of £600.000 from our 8ndowmenl for the legacy match funding initiative. To dale (March 2025), we have designated £295,000 of the malch funding towards £1,290.000 of future donations in wills. This is shown in the accounts as a designated endowment fund. The investment obje¢livé for the main portfollo is to ganerate a total return of 6.50/0 per annum over the long term, aftar investment management fees. In 2024-25, the total return after investment management fees was 1.8 /4 12024.. 11.8 % ). Trustees were disappointed with Ihe low relum, whlch was mainly due lo the impact of economic events in the US durfng the final quarter of 2024-25. The Trustees have wide Investment powers and retaln overall responsibility for the management of th8 Foundation'5 nvestm6nls. The Trustees have delegated authority to the Flnance and Resources sub-committee to,. Develop and propose an Investment and Expendlture Pollcy lo Trustees, Define an asset allocation policy for the inveslmenls. Overse8 and approve Investment decislons Concerning the Foundations capital reserves. Review th8 performance of the Foundation's investments and r8POrt to Trustees regularly. The Foundation utilises th8 services of suitably qualified and experi8nced Inveslm8nt Managers lo manage its investrnent portfolio and lo provide advice and administration services in relation to investments. However, the TTUS18es reGognise that we are ultimately responsible for the management of the Foundation's investments. The Foundation rgquires the Inveslment Managers to carry out negative screening and avoid investments in armaments, alcohol, fossil fuels. human rights abuses, tobacco and pornography. The Trustees also require the investment managers to cary out positive screening, i.e. investing in companies that show leadership in product design, 8mployee poliGies, environmental protection, human rights or other practices. The Investm8nt Managers are also required to consider the reputational risk in relation to the Foundation's ethos and mission and draw any such potential reputational risk to the Trustees. attention.
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods We are continuing to deliver our ambitious slralegy to help communllie5 in Northern Ireland to build a better future. Our plans for 2025126 include.. Further growth and davelopment of our Equity in Action Fund, whlch we established in 2024-25 to support grassroots organi5ations in building stronger. safer, and more informed communitles. We wlll build on an independènt scoping exercise on digital Incluslon undertaken In 2024-25. W8 will continue to grow and devalop our Inspiring Growth Fund a targeted initiatlve to equip local changemakers with the digltal resources they need to grow, conn8cI, and innovate. As a signatory lo the Funder Commitment on Climate Change, we will encourage and support local charitiés and community organisations to take action to avoid Climate Chaos. Continuing to supp)rt donors lo eslablish a donor-advised fund with us, lo support them to glve to causes that matter to them and make a r8al impact on the lives of local people. Encouraglng donors to make a gift in thelr wlll to the Communlty Foundallon, to shape thelr legacy, support the causés that are important to them and refléct their valu8s. We will conlSnue to provid8 some mat¢h fundlng for thès8 future charitable gifts through our Lègacy Match Fund. Our work around poll¢y will continue to grow and we will look lo further share the impact of our grantmaking around digital poverty, grassroots engagement, peace building, homelessness, wom8n's health and climate. We are committed to the promotion of Philanthropy and to supporting the producllon of a Philanthropy Pollcy for Northern Ireland. As a social justice organisation we will further develop our human rights work to support the evolving voices of those who wish to address Inequalities and support civic iniliallves within Northern Iroland. We will be celebratlng the len- year annlversary of the Human Rights Fund In 2025126. We will roll out bursaries to individuals as part of th6 Nothing About Us Wlthoul Us Programme. We will continue lo build strategic partnerships with other funders, not only within Northern Ireland bul In the UK and further afield. We have d8V8loped 8mbitious fund-raising targets to support this work. Thes8 are challenging limes in whlch to raise funding. but w8 hope that by working with our ambassadors, network, new and existing donors. corporat8 organisalions, statutory bodies and other foundations and trusts, we can generat8 new income to énable us to Continue to Support communities in Noth8rn Ireland. We would like to take this opportunity lo thank all OLJr donors, funders and partners for their continuing SUPPOrt in 2024-25. We also look foward to welcoming new donorslfunding partners, strategic partner5 and grant applicants over the coming year.
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 structurei governance and managemont The Trustees of the Foundation for the year ending 31 March 2025, who have all been trustees for the whole year endlng on that date, except as noted below, are lisled on page 1. The Trustees expressed their appreciation to David Mccurley and Suzanne Lagan who stepped down from the Board in 2024-25, after both serNing two terms as Trustees. The Foundation is admlnistered by a Board of up lo 14 Trustees who are assist8d in thelr work by three Standlng commlttees (the Finance and Resources Committee, the Grants and Impact Committee and the Pollcy Committee} which involve Trustees and external co-opted members, including those with lived experience. In addition, a number of selecllon panels are involved in the decision-making process with regard lo the award of grants. Advisory panels also meet regularly lo support our programmes. These panels normally comprise a significanl number of volunteers from other organisallons and backgrounds who bring speciflc knowledge to Ihe process, including thos8 wllh lived experience of the issues wo are trying lo address. EaGh of the sub-commitle6s reports dir6Ctly to the Board. which approves all major strategic decisions and has overall responsibility for all the Foundation's activities. All Trustegs and Advlsory Panel mernbers seNe In a voluntary capacity. The Chief Executlv8, Rolsln Wood, manages the day-to-day operatlons of the Foundation wlth support from the senior management team and wSder staff team. The Trustees who served during the yèar and up to the date of signature of the flnancial statements were.. David Mccurley {Resigned 27 S8Ptember 2024) Mary McKee DrAdrian Johnston Dr Jane Wllde Ciaran Moynagh John Gordon Suzanne Lagan Dr Sophle Long Rhyannon Blythe Caolan Ward Justin Kouame Gerard Deane Sarah Andrews Adele Brown EJ Havlin stephen Rusk (Resigned 27 March 20251 (Appolnled 27 March 20251 (Appointed 27 March 20251 (Appointed 27 March 20251 {Appointed 27 March 20251
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Recruitment and appointment of trustQ8S When Trustee vacancies arise, we advertise these on our website and via soclal medla. We also consider recommendations from existing Trustees. The Nominations Committee la small group of Trustees plus the CEO) is appointed by the Board to interrflew potential candldates for the role of Trustee and to brlng a shortlist of recommendations to the Board for decision. Candidates are considered in the context of skills. diversity, geographical and sectoral balance. Trustees are appointed for a term of 3 years (renewable for a further 3-year term). All Trustees participate in an annual appraisal with the Chairperson of the Board. Thls involves an annual review of the Trustee's own performance and the performance of the Chairpèrson and the Board. The Vice-chairperson carries out the appraisal of Ihe Chairperson. The Board conducts an annual reviow of skllls and diverslly needs and maintains the personal competence of Board members through relevant training. Trustee Induction and Trainlng New Trustees r6ceive a comprehensive Induction pack which includes the Foundalion's Governance Manual. The manual provldes details on policy and pra¢lic6: the Foundallon's strategy. aims and aclivilies-, managemenl and governance and what is expected of Trustees under charity law, wllh reference to the Charities Acts. New Trustees are also provided wlth opportunitles to meet staff and grantees lo learn about the work undertaken by the Foundation. Statement of Trustees, Responslbllltles The Trustees are responsible for preparing the Trustee5' Report and the financial stateménts in accordance with applicable law and Unlled Kingdom Ac¢ounllng Standards IUnit8d Kingdom Ggnerally Accepted Accounting Practice). The law applicable lo charities in Northern Ireland requires the Trustees to prepare flnancial Statements for each financial year which give a true and fair view of the state of affalrs of the Charity and of the incomlng resources and appllcation of resources of the Charity for that year. In preparlng these flnanclal statements, th8 Trustees are requlred to.. select suitable accounting policies and then apply them oonslstently., obseNe the methods and principles in the Charitles SORP., mak8 judgements and estlmates that are reasonable and prudent., state wh8ther appllcable accountlng Standards have been followed, subject to any mat8rlal departurès dis¢losed and explained in the financlal stat8menls-, and prepare the financial stalements on thg going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting CordS that disclose wlth reasonable accuracy at any lime the financial position of the Charity and enable Ih8Tn lo ensure that the linancial stal6ments comply with th@ Charity IAc¢ounts and Reports) Regulations 2008 and the provisions of the trust deed. They arfy also responsible for safeguardlng the assets of the Charily and hence for taking reasonable 5t8ps for the prevention and detection of fraud and other irregularlties.
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Th8 Trustees, report was approved by the Board of Trustees. DrAdrian Johnston Trustee 25 September 2025
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND Opinion We have audited the financial statements of The Community Foundation for Northern Ireland (the 'Charity'} for the year ended 31 March 2025 which cornprise the slalement of financial activities, the statement of financial posilion. the statement of cash flows and notes to Ihe financial slalemenls, includlng slgnificanl accounting policies. The rinancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5. including Financial Reportlng Standard 102 The Financial Reporting Standard applicable In the UK and R8public of Ireland (United Kingdom Genefally Accepted Accounting Practice). In our opinion, the financial stat8ments= give a true and falr view of the state of the charity's affairs as at 31 March 2025 and of its incoming resour¢8S and application of resources, for the year then ended., have been properly prepared in accordance with Unlled Kingdom Generally Accepted Ac¢ounling PraGll¢e: and have been pr8pared in accordance wlth the Charities Act {Northern Ir8landl 2008. Basls for oplnion We conducted our audlt in accordance with International Standards on Audlllng IUKI {ISAs {UK)) and applicable law. Our responsibilities under Ihose standards are further described in the Auditors responsibilities for the audit of the financial statements secllon of our rep¢)rt. We are inijependent of the Charity In accordance with the ethical requirements that are relevanl lo our audit of Ilie financial slalemenls in the UK, including the FRC'S Elhlcal Standard, and we have fu Ililled our other elhiGal responsibilities in accordance with these requirements. We believe that the audit evidenGe we have obtained is sufficlenl and appropriate lo provide a basis for our opinion. Concluslons relating to going concern In auditing the financlal statements, we have concluded Ihat the Trustees, use of the going concern basis of accounting In the preparation of the flnancial statements is approprlale. Based on the work we have performed, we have not Identified any materlal uncertainties relallng lo events or conditions that, Indlvidually or Collectively. may cast significant doubl on th8 Charity's abilily lo contlnue as a golng concern for a period of at least e1ve monlhs from when the financial slatem8nts arg aulhorised for issuè. Our responsibilities and the responsibililies of the Trustees with spect to going concern arè described In the relevant sections of this report. other Informatlon The other Information comprises the Information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial slalements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent wilh the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misslaled. If we identlfy such material inconsist8ncies or apparent material misstatements, we are required to determine whether Ihis gives rise to a malerlal misslalemenl in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstaternent of this other information, we are required to report that fact. We have nothlng lo report in this regard.
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND Matters on which we arè required to report by exception We have nothing lo report in respect of the followlng matters In relation to which the Charities Accounts and Reports Regulations (Northern Ireland) 2015 requlres us to report to you if, in our opinlon.. the information given in the financial stalements is Inconsistent in any material respect with the Trustees, report., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records- or we have not recelved all th8 information and explanations we require for our audit. Responsiblllties of Trustees As explained more fully in the statement of Trustèes, responsibilitles, the Trustees are responsible for the preparation of the financial slatemenls and for being salisfled Ihal they glve a true and fair vlew, and for such internal control as the Trustees delermlne is necessary to enable Ihe preparation of financial statements that are free from material mis5latemenl. whelher due to fraud or error. In preparing the financial slatemenls, the Trustees are responsible for assessing the Charity's ability to conllnue as a golng concern, disclosing, as applicable, rnallers relaled to going concern and using the golng concern basis of accountin9 unless the Trustees either intend to cease operations, or have no reallsllc alternallve bul lo do so. Audltor's responslbilitles for the audit of the financlal statgments Our objectives are lo obtain reasonable assurance about whether the financial slalement5 as a whole are free from material misslatement. whether due lo fraud or error, aiid to issue an auditor's report that includes our oplnlon. Reasonable assurance is a high level of assurance bul is not a guarantee that an audll conducted Sn accordance with ISAS (UK) will always delecl a material misstatement when il exlsls. Misslatemenls can arise from fraud or error and are considered materlal if, individuglly or in the aggregate, they could reasonably be expected to Influence tha economlc decisions of users taken on the basls of these financial statements. Irregularities, includlng fraud, are Inslances of non-compliance with laws and regulations. We deslgn procedures In line with our responsibilities, OLJtllr)ed abov6. to detect material misstatements in respect of irregularities, includlng fraud. The extènl to which our procedures are capable of delectlng irregularities, Including fraud. is detalled below. 10
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND Our approach to identifying and assessing the risks of malerial misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competen, capabililies and skills lo identify or recognise non-compliance with applicable laws and regulations., we identified the laws and regulations applicable lo the charily through discussions wilh trustees andlor senlor management, and from our commercial knowledge and experience of the sector,. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or th8 operations of the charity, including Charities Act INI) 2008, taxation leglslation, data protection, anli-bribery, employment, environmental and health and safety legislation we assassed the extent of compllance with the laws and ragulations Identified above through maklng enquiries of management and inspecting legal correspondènce., and identified laws and regulations wére communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the su$¢eptibillty of th8 charity's financlal statéments to material misstatement. In¢ludlng oblalning an understanding of how fraud mlght oc¢ur, by.. maklng 8nquiries of management as to where they consider8d there was susceptibility to fraud, th8ir knowlgdge of actual, suspected and alleged fraud., and considering the internal contro15 in place lo mitigat& risks of fraud and non-compliancg wllh laws and regulations- To address the risk of fraud through management bSas and overridg of controls. we.. performed analytical procedures lo identify any unusual or unexpected relatlonshlps. tested journal entries to identify unusual transactions- assessed whether judgements and assumptions made in determining the accounting esllmates set out in Not8 2 were indicative of potential bias., and Investigated the rationa18 behind significant or unusual transactions., In response to the rlsk of irr8gularilies and non-compliance with laws and regulations, we designed proc8dures which included, but W8r@ not limited lo: agreeing financial slalomenl disclosures to underlying supporting documentatlon; reading the minutes of meetings of those charged with gov8rnance', enquiring of management as lo actual and potential lillgation and claims. and reviewing correspondence with HMRC and the charity's legal advisors.. There are inherent limitations In our audit procedures described above. The more removed that laws and regulations are from fSnanclal transactions, the less likely it Is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to Identify non-compliance wlth laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and18gal correspondence. If any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate conc8alment or collusion. 11
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND Use of our report This report is made solely to the charity's members, as a body, in accordance with section 65 of the Charities Act INI) 2008. Our audit work has been undertaken so that we might stale lo the charity's members those matters we are required lo state to them in an auditor's report and for no other purpose. To (he fullest extent permilled by law, we do not accept or assume responsibilily lo anyone other than the charity and the charity's members as 8 body, for our audit work. for thi5 report, or for the opinions we have formed. Angela Cra an (Senior Statutory dltor) for and on behalf of HM Charterad Accountants Chartered AccounLint$ Statutory Auditor 6th Floor East Tow8r Lanyon Plaza Belfast Co. Antrtm BT13LP 12-
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THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND STATEMENT OF FINANCIAL POSITION ASAT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Investments 14 15 87,879 22,565,577 101,697 25,559.924 22,653,456 25.661,621 Current assèts Débtors Cash at bank and In hand 16 227,640 4,610,017 311,772 5,903,441 4,837,657 6,215,213 Crodltor$: amounts falling dua withln ono year 17 1712,0581 (1,290,730) Net current assets 4.125,599 4,924,483 Total assots less current Ilabilltigs 26,779.055 30,586,104 Net assets excludlng ponslon Ilabllity 26,779,055 30,586,104 The funds of the Charity Endowm8nt funds Restrlcted incom8 funds Unrestrlcled funds 22,061,991 3,883,004 834,060 22,979,926 6,813,996 792,182 20 19 26,779,055 30,586,104 The financlal statements were approved by the Trustees on 25 September 2025 DrAdrian Johnston Trusteo 14-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notès Cash flows from operating actlvitlas Cash absorbed by operations 27 14,858,449) {11,454,065} Invèstlng actlvltles Purchase of tangible flxed assets Purchase of Investments Proceeds from dlsposal af Investments Investment Income recgived 13,316) (5,088,849) 2,798,972 556,774 18,641) 13,163,821) 3,106,519 477,988 Net cash (used In)Iggnerated from Investlng actlvlt19$ 11,736,419) 412,045 Flnanclng activltles {Decr8a5811ncrease In investment cash 5,301,443 (1,787,954) Net cash generated froml{used In) Ilnanclng actlvltles 5,301,443 (1,787,954) Net decrease In cash and cash equlvalents (1,293,425) {12,829,974) Cash and cash equlvalents al beginnlng of year 5,903,441 18,733,415 Cash and cash equlvalonts at end of year 4,610,016 5,903,441 15
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles Charlty Informatlon The Community Foundation for Northern Ireland is a reglstered charity in Northern Ireland. The registered office is Community House, Cilylink Business Park, 6a Albert Street, Belfast, Co. Anlrim, BT12 4HQ. 1.1 Accountlng convontlon The financial statements have been prepared in accordance with Ihe Charity's governing document, Iho Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102") and the Charlties SORP "Accounting and Reporting by Charities- Statement of Recommended Practice applicable lo charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and RepubliG of Ireland IFRS 1021" (effective 1 January 20191. The Charity is a Publi Benefit Entity as defined by FRS 102, The financial slalemenls hav8 deparied from the Charities (Accounls and Reports) Regulations 2008 only lo the axlenl required lo provide a true and lalr view. This departure has involved following the Statement of Recommended Praclice for charities applying FRS 102 rather than the verslon of th& Statement of Recommended Practlce which is referred to in the Regulatlons bul whl¢h has slnce b8en withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Mon8lary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the hislorlcal cost conventlon, modifled to include the revaluation of freehold properties and lo include invostment properties and certain financial Instruments al falr V81uè. The principal accounting policies adopted are sat out below. 1.2 Golng concern Al Ihè lime of approving the fjnanclal statements, the Trustees hav8 a reasonable expectation that the Charily has adequate resources lo continue in operalional existence for the foreseeable future. Thus the Trustees contlnue to adopi the going concern basis of accounllng in preparing th8 financial stat8ments. 1.3 Charltablè funds Unrestricted funds are available for us& al the discretion of the Trustees In furtherance of their charilable objectives. Restricted funds are subjgct to speciflc 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 statements. Endowment funds are subject to specrfic conditions by donors that the capital must be mainlain8d by the Charily. 1.4 Income Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is prcibable that income will be received. Cash donatlons are recognised on recelpt. other donations are recognised once the Charity has been notifled of the donation. unless performance conditions require deferral of the amounl. Income lax recoverable in relation to donations recelved under Gift Aid or deeds of covenant is recagnised at the time of the donation. Legacies are recognised on receipt or olhemise if the Charlly has been notified of an impending dlstribution, the amount is known. and receipt 15 expected. If the amount is not known. the legacy is treated as a contingent asset. 16
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Icontlnued) 1.5 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit lo a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligallon can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, includlng support costs Involved in undertaking each activity. Direct costs attributable to a single activily are allocaled directly to thal activlty. Shared costs whlch contribute to more than one activity and support costs whlch are not attributable to a sing18 activity are apportioned beiween those aclivities on a basis consistent with Ihe use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible flxed assets Tangible fixed assets are Inltlally measured al cost and sub58quently mèasured at cost or valuallon, net of depreclation and any imp8lrm8nt losses. Deprecialion Is recognised so a5 to write off thè cost or valuatlon of assets less their residual values over their useful lives on the following basès: Freehold land and buildings Fixtures and fittings Computers 20/0 slrai9ht line 200/0 Straight line 330/p straight Iln8 The gain or loss arSslng on the dlsposal of an as$6t Is determlned as the differenc8 betwean the sale procéeds and the carylng value of the asset, and is recognised in thè slalement of flnanclal activitles. 1.7 Flxed asset Inv8stmonts Fixed asset investments arè Initially measur8d al transaction price excluding transaction costs, and are subsequently measured al fair value at each reporting date. Changes in fair valu8 are recognised in net incomel(expendilurel for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of flxed assets At each reporting end date, the Charity revlews the carrying amounts of its langlble assets to determine whether there is any indlcatian that those assets have suffered an impairment loss, If any such indScation exisls, the recoverable 8mount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.9 Cash and cash equlvalents Cash and cash equivalents inGlude cash in hand, d8posils held at Gall with banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts ar8 shown wlthln borrowlngs in current liabilit185. 1.10 Flnanclal instruments The Charity has elgcled to apply Ihe provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instrurnents. Financial instrurnenls are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabililie5 are offset, with the net amounts presented in the financial statomenls. when there is a legally enforceable right to sel off the recogni5ed amounts and there 15 an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 17
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcies {Continued) Basic financial assets Baslc financial assets, which include debtors and cash and bank balances, are inlllally measured at transaction price includlng transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constilules a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rate of Interest. Financlal assets classlfled as receivable withln on8 year are not amortised, Baslc financial Ilabllltles Baslc financial Ilabililies, including creditors and bank loans are initially r8cognised at transa¢tlon prfce unless the arrangement constitutes a financing transaction. where the debt Instrument Is measured at the present value of the fulure payments discounted at a market rate of Interest. Financial liabilltles classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using th8 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 classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabililies. Trade cr8ditors ar8 recognised initially at transaction price and subsequently measured at amortised cost using the effective inleresl method. Derecognitlon of Ilnancial Ilabilltlos FSnancial Ilabililies are derecognised when the Charity's contractual obligations explre or are dlscharged or cancelled. 1.11 Employee beneflts The cost of any unused hollday entillement is recognised in the period in which the employee's services are rec81ved. Terminatlon benefits 8re recognised immediately as an expenso wh8n the Charity is demonstrably committod to terminate the employment of an employee or to provide termination benefits. 1.12 Retlrement ben8flts Payments to defined Gontrlbutlon retlrem8nl beneflt schemes ar@ charged as an expense as they fall du8. 18
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltlcal accounting estlmatos and Judgements In the application of the Charlty's accounting policies. the Trustees are required to make judgements, estimates and assumptions about the carrying 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 considerad to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the perlod in which the estimate is revised where the revlsion affects only that period, or In th8 period of the revision and future periods where the revision affects both curr8nl and futLsre periods. Incomo from donatlons and legacles Unrestrlctèd Rostrlcted Endowment funds funds funds Total Total 2025 2025 2025 2025 2024 Don81ions and gifts 198.496 1,319,959 66,456 1,584,911 4,568,378 Incomo from charltablg actlvltles Unrestrlctod Restrlcted funds funds 2025 2025 Total Unr•strlctod R•8trlcted funds funds 2024 2024 Total 2025 2024 Charltable actlvltles Funding recelved 50,891 2,348,509 2,399,400 33,456 1,620,733 1,654,189
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 In¢ome from charltable actlvltl88 (Continued) Fundlng recelved: Charltable activitles 2025 Charltable actlvities 2024 Acorn Farm Programme Axa Parks Fund Comic Relief Nourish the Nation Comic Relief 2024-25 Empowering Change Programm8 Henry Smith Thriving Futurès Fund Housing & Homslessness Innovation & Voice Programme Human Rlghts Fund Micro Granl Fund Nallonal Lottery Nothing About Us Without Us Programm8 Peace Impact Programme RTE Toy Show Appeal Wesleyan Foundation Other 441,668 309,407 549 165,000 315,000 25,000 366.667 63,477 250,000 100,269 50,000 282,853 250.000 103,298 70,000 234,295 304,509 37,800 36,478 251,886 341,879 53,554 2,399,400 1,654,189 Income from Investmonts Unrestrlcted Endowment funds funds 2025 2025 Total Unrestrlcted Endovfflient funds funds 2024 2024 Total 2025 2024 Other income 23,350 533,424 556,774 477,988 477,988 Expenditure on raislng funds Unrestrlcted Restrlcted Endowment funds funds funds 2025 2025 2025 Total Total 2025 2024 Fundralslng and publiclty Fundraising costs Depreciation and impairment 167,820 1,205 600 82,454 250,874 1,205 186,545 169,025 600 82.454 252,079 186,545 -20-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditurè on charltable activlties Charitable actlvltles 2025 Charitable activltles 2024 Dlr6¢t costs Grant fundlng of actlvities (see note 8} 6,055,891 14.519,562 Share of support and governance co$ts (seg note 9) Support Governance 2.041.024 16,360 2,246,760 9,738 8,113,275 16,776.060 Analysls by fund Unrèstricted funds Restrlcted funds Endowment funds 916,119 7,195,657 1,500 984.053 15,695,574 96,430 8,113,276 16,776,057 Tha Community Foundation approved 576 grants totalling £3,815,219 {2024: 651 grants totalling £4,921,072) to tha volLJnlary and community sector during th8 year. Grants payable Charltablg actlvltles 2025 Charltabla actlvltles 2024 Grants 6,055,891 14,519,562 21
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activities Charitable activltles 2025 Total 2024 2.606 748 11,476 2,698 1.382 43.915 1,951 Advertising Archiving and Shreddin9 A8sessm8nt & Verification Bad Debts Bank Interest & Charg8s Buildlng Services Charge Child¢are Vouchers Cleanlng Communications & Marketing Conferences & Seminars Consultancy & Techical support Contractual Payments Depreciation Charge Employee Leave Employels Social Securily EquSpmenl Hlre Evaluation Facililalion, Mentoring and Support Hospitality Insurance Insurance - Private Medical Insurance Health Cashplan IT Support Loss on Disposal of Fixed Asset Memberships and Subs¢riptions Payroll Servlces P8nsion Postage Printing & Publications Professional & Legal Fées Recruitment Costs Rent and Rates Repairs & Maintenance Research Salaries Small Equipment Staff Development, Training and Wellbeing stationery Sundry Telephone Training (Externall Travel & Sub51stersce Governance 1.945 3,839 10,101 1,591 38,732 2,011 53 10,061 46,547 3,838 10,000 15,930 1,236 100,637 2,219 14,391 254,047 12,152 55,223 8,775 16,674 (8,5611 105,303 2,043 103.584 307,383 1,116 37,190 39,072 6,839 1,798 59,502 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 18,501 191,283 22,763 9,738 19,873 1,147 140,629 1,502 307 5,152 6,704 28,568 10 94,067 1,006,543 281 21,486 583 1,168 18,096 45,093 25.426 16,360 2,057,384 2,256,498 -22-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to actlvltles (Contlnued) 2025 2024 Governance costs comprlse: Audit fees Conference and travel costs Consultancy Trainlng 6,500 3,680 6,180 6,500 2,404 420 414 16,360 9,738 10 Net movement In funds 2025 2024 The nel movement In funds Is slated after chargingllcr8dllingl'. Fees payable for the audit of th8 charity's flnancial statements Depreclatlon of own8d langlblè flxed ass8ts 6,500 17,135 6,500 16,316 11 Employees The average monthly number of employees during the year was: 2025 Number 2024 Numbor Operations Fundraislng and Communicallons Grants and Programmes 18 19 Total 29 30 Employmenl costs 2025 2024 Wages and salaries Social security costs Other pension costs 1,129,580 114,637 149,210 1,102,248 112,338 131,894 1,393,427 1,346,480 Thé number of 8mployees whose annual remuneration was more than £80,000 is as follows.. 2025 Number 2024 Number £60,000 to £69,999 £70,000 to £79.999 -23-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Employe8S (Continued) Remuneration of key management personnel The rÈmuneration of key management personnel was as follows.. 2025 2024 Aggregat8 compensation 457,070 388,849 Tha k6y management personnel of the charlty ¢omprlse the Trustees, the Chlef Exe¢utlv8 Officer, Director of Operations, Director of Programmes, Dlrector of Fundraising and Phllanlhropy, Grants Dlrector and Dlreclor of Public Affairs, Poll¢y and Comrnunications. The Chief Exècutive's salary is sét following independent advice and a r8view of similar posts in the sector. The remaining staff salaries, including key management personnel, 8re aligned to the NJC salary scales and are set using guidance provided by NICVA. The Foundation re9ularly pariicipates in benchmarking exercises to ensur8 our salary levels are in line with other chanties. 12 Galns and losses on Investments Endowment Endowment funds funds 2025 2024 Gainslllossesl arlslng on.. Sale of Investments 17,221 1,787.955 13 Taxatlon The charity is exempt from taxation on its activities because all its inGome is applied for Charitable purposes. -24-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Tanglble fixed assets Freehgld land Flxtures and and bulldlngs flttlngs Comput•vJ Totsl Cost At 1 April 2024 Additions 148,619 205,946 236,551 3,316 591,116 3,316 At 31 March 2025 148,619 205,946 239,867 594,432 Depreclatlon and Impalrment At 1 April 2024 DepreGlatlon charged In the year 75,819 2,800 193,333 3,580 220,267 10,755 489,419 17.135 At 31 March 2025 78,619 196,913 231,021 506,553 Carrylng amount At 31 March 2025 70,000 9,033 8,846 87,879 At 31 March 2024 72,800 12,613 16,284 101,697 15 Flxed asset investment$ Llstad Charlty bank Investmonts investmont Daposlt Accounts Cash Tolal Cost or valuation At 1 April 2024 Additions Net decrease in Investments held as cash Net galn on investment assets Disposal 21,220.344 5,088,849 250,000 2,037,885 2,051.695 {1,424,6521 25.559,924 3,664,197 (2,037,885) 680,785 (1,357,100) 17,221 {5,318,665) 17,221 (5,318,665) At 31 March 2025 21,007,749 250,000 1,307,828 22,565,577 Carrylng amount At 31 March 2025 21,007,749 250,000 1,307,828 22,565,577 At 31 March 2024 21,220,344 250,000 2,037,885 2.051,695 25,559,924 25-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Flxed asset investments (Contlnued} 2025 2024 Investments at market value comprise: UK unit and investment trusts UK equSties Overseas Direct Equilles and Investment Trusts GILTS UK Direct Corporate Bonds Inlernatlonal Bonds Overseas Direct Fixed Income Property Alt8rnatives Investments held as cash Charity Bank Shares UK lon9 lerm deposit 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 3,167,374 8,017,087 4,959.701 943.932 529.088 1,052,105 407,181 1,931,280 1,307,829 250,000 22,565,577 25,559,924 Charity Bank Shares 2025 2024 Hislorial cost at 31 March 2024 Shares Deposits Charity bank Cash 16.902,691 1,307,828 250,000 17.400,268 2,051,695 250,000 2,037,885 18,460,519 21,739,848 16 Dabtors 2025 2024 Amounts falllng due wlthln one year: Tradé debtors Prepayments and accrued income 190,958 36,682 26S,892 45,880 227.640 311,772 -26-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Creditors: amounts falling due wlthin one year 2025 2024 Notes Other taxation and social security Government grants Trade creditors Accruals and daferred incorne 25,386 13,400 55,517 617,755 27,224 13,400 97,864 1,152,242 712,058 1,290,730 18 Unrestrlctod funds The unrestricted funds of th8 charlty comprise the unexpended balances of donallons and grants which are not subject to specific condltions by donors and grantor5 a5 to how Ihey may be used. These Include deslgnated funds which have been set asSde out of unrestricted funds by the trustees for speciflc purposes, Transfers At 31 March 2025 At 1 Aprll 2024 Incomlng resource3 Resources expended Communlty Foundation Designated Fund Other 50,953 741,229 (858) 855,143 50,095 783,965 272,737 {1,085,1441 792.182 272,737 {1,085,1441 854,285 834.060 Prevlous year: At 1 April 2023 Incoming resour¢es Resources expended Tran5feTS At 31 March 2024 Community Foundation Designated Fund other 33,886 889,096 17,067 717,528 50.953 741,229 226,614 (1,092,007) 922,982 226,614 {1,092,0071 734,593 792,182 Deslgnated Fund This fund 55 Intended to provide for the redundancy costs which the Foundation would incur If there was a significant decrease in the level ol ils funding and as a result, any of the existing staff who are presently employed on time Ilmited contracts were made redundant al or before the explry of their contracts. 27-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to speclfic conditions by donors as to how they may be used. At 1 April Resources 2024 expended Incoming resources Transfers At 31 March 2025 Acom Farm Programme Axa Parks Clvic Innovation & Grassroots Leadership Programme Comlc RelS8f Empowering Change Comic Relief Grants 2024-25 Comic Relief Nourish th8 Nation DOH Cancer Support Fund DOH Carers Support Fund DOH Mental Health Support Fund Henry Smith Thriving Futures Human Rights Revenue Fund Kingsbrldge Foundation New Voices Programme Nothing About Us Without Us Programme Oak Housing and Homelessness Innovation & Voice Programme Peace Impact Programme RTE Toy Show Appeal Other funds 69,782 441,668 (333,4941 3,850 177,956 (3,850) 13,618 (13,618) 5,905 1.246 1220,000) {7,151) (30,0001 315,000 65,000 150,000 {150,000) (1,319,753) {596.265) 1,881,023 779,149 561,270 182,884 1,149,911 {1,063,780) 86,131 366,667 171,580 172,804 502 366,667 250,300 383,880 305,009 18,744 65,850 {743,509) 1229,8201 145,703} 359,780 (19,845) 4,839 45,139 95.893 (55,593) 116,822 63,477 251,886 325,599 1.119,992 1235,5831 {251,857} 1293,529) {1,662,4691 155,284) 29 366,698 1,741,628 334,628 1,977,663 306,442 6,813,996 3.668,468 (7,196,257) 596,797 3,883,004 28-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restrlcted funds (Contlnued) Prevlous year: At 1 Aprll 2023 Incomlng r850urces Rosources expended Transfers At 31 March 2024 Acorn Climate Action Fund Acorn Farm Programme Axa Parks Bank of Irèland Cost of Llving Fund Clvic Innovation & Grassroots Leadership Programme Comlc Relief Empowerlng Change Community Innovators DOH Cancer Support Fund DOH Carers Support Fund DOH Mental Health Support Fund Fibrus Fund Human Rights Revenue Fund Kingsbridge Foundation New Voices Programme Nothing About Us Wilhoul U$ Programm8 Oak Housing & Homelessness Innovation & Voice Programm8 Peac8 Impact Programme Red Cross FRIS Community Activity Fund RTE Toy Show Appeal Other funds 22,107 55,453 23,953 (24,710) 1295,078) (45,5751 2,603 309,407 69,782 21,622 87,742 {87,7421 132,680 (112,055) (7,007) 13,618 18,061 964 5,408,301 2,674,543 25,000 191.454) 10,876 13,527,278) <1,895,394) 54,298 111,840) 5,905 1.881,023 779,149 6,983,140 28,557 591,063 78,194 128,448 15,833,229) (58,6691 {627,364) 1116,250) 185,098) 1,149,911 30,112 250,300 56,800 22,500 91,010 305,009 18,744 65,850 70,000 14,1071 30,000 95,893 208.494 (8,0421 282,853 234,295 1374.525) (234,197) 116,822 7,944 11,000 420,293 1.873,618 (11,0001 {374,949) 11,914,078) 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 29-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Endowment funds Endowment funds represent assats which must be held pèrmanently by th8 Charity. Income arising on the endowment funds can be used in accordance with the objects of the Charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. At 1 April 2024 Incoming resources Resources expanded Transfèrs Gains and At 31 March 1055es 2025 Endowment funds Capllal Endowment Fund Legacy Match Fund 22,734,926 599,880 183,9541 11,806,082) 17,221 21,461,991 245,000 355,000 600,000 22,979,926 599,880 (83,954} 11,451,082) 17,221 22,061,991 Prevlous year: At 1 Aprll 2023 Incomlng rnsourcas Resources expendod Transfers Gains and At 31 March losses 2024 Endowment funds Capital Endowment Fund Legacy Match Fund 19,298,645 3,343,570 1168,719) {1.526,525) 1,787,955 22,734,926 100,000 145,000 245,000 19,398,845 3,343,570 (168,7191 11,381,525) 1,787,955 22,979,926 Lagacy Match Fund This fund is intended to provide match funding for futur8 gifts in wills to 8UPPOrt the charitable activitles of th8 Foundation in future years. 21 Rotlroment beneflt Schemes 2025 2024 Dfrflned contrfbutlon Schemes Charge to profit or loss in respecl of defined contribution schemes 149,210 131,894 The Charity operates a defined contribution pension scheme for all quallfying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. In the flnanclal year ended 31 March 2024, the Communlty Foundation changed to a salary sacrifice pension scheme, thereby thg penslon contributions for the year inclvde employee5, salary sacrifice contributions. 30-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Contingoncies Under the tems of certain grants, a liability may arise to r8pay in whole or in part grants received if certain condllions in the grant agreemenl are not complied with. In the opinion of the Trustees the terms of all letters of offer have been complied with and a liabS1ily is not expected to arise. 23 Commltments The Foundation's contractual obligation5 arislng through offers of grants made in raspect of whlch either the acceptancé period has not lapsed or the conditlons had not been fulfilled at the year end are a5 follows.. March 2025 March 2024 2,052,764 5,102,077 Grant Offers Operating Leases- withln one year Operallng Leases - belmeen two and five years 27,171 64.017 28,539 90,756 24 Trusteos No fees are paid to Trustees for Iheir services as board members. Directly incurred exp8nses are reimbursed, If claimed. Four trustees wore reimbursed for expen<'es amounting lo £496 (2024: £1,182). No olher expenses were pald on behalf of any Trustee12024: £NIII. 25 Post balance sheet events There w8r8 no post balan sh88t events for th8 year endad 31 March 2025. 31
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 26 Related party transactlons Transactlons with related partles Related parties include the charity's Trustees and their close family m9mbers and those entities which they control or in which they havg a significant interest. Persons who are not Trustees but who have a significant influence over a charity'5 decision-making are also Irealed as related parties. These include staff lo whom the Board of Trustees have delegated decision-making authority for some transactions. The int8rest5 below are all recorded in th8 Foundation's Register of Interests {2024.' £451,369). Name & Role with the Communlty Foundatlon Ralated Party Interest Nature Flnanclal ransactlon Payment John Gordon- Trustee Ulster Society Historical ruste8 Grant Payments 6,000 John Gordon- Trustee NOW Group rustee Grant Payments 8,492.20 Suzanne Lagan -Trustee Qu88ns University Employee Grant Paym8nts £12,000 Ciaran Moynagh - Rainbow Project ruste8 Grant Payments £30,162.65 ru$lee Orla Black - NICVA rustee TrainSng Contract 49,943.01 Director of Grants and Fund Development Fiona O'Toole Operations Director o Wellbeing {Calherine Family M8mb8r Training Contract £1,310 Pathway Murninl 107,907.86 None of these Trustees or staff w8r8 Involved In the d8cision-maklng processes whlch resulted In the flnanclal transactlon5 above. -32-
THE COMMUNITY FOUNDATION FOR NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 27 Cash absorbed by operations 2025 2024 Deficit for the year {3,807,049) (8,474,092) Adjustments for: Investment income re¢ognls8d in statement of financlal activllies Gain on dlsposal of Investm8nts Depreciatlon and impaimient of tanglble fixed assets {556,774) 1477,988) {17,221) 11.787,955) 17,135 16,316 Movements In worklng capltal: Decreasel(increasel in debtors {D8crease) in credltors (Decreasellincrease in deferred Income 84,132 {578,672) 133,4201 1708.846) 11.920 Cash absorbed by operatlons {4,858,449} (11.454,065) 28 Analysls of chang88 In net funds The Charlty had no materlal debt during the year. -33-