Finance Score: 3

Governance Score: 8

Support Score: 0

Liabilities <10%: +3
Excess reserves: -5
Strong growth: +2
Fundraising costs low: +3

No conflicts policy: -1
Good trustee age range: +3
Dynamic board: +3
Gender balanced board: +3

No supporters identified

Overall GiG Score: 11

MILLFIELD FOUNDATION

Provision of scholarships to underprivileged children.

Analysis by Giving is Great

Positives:

This charity has a robust balance sheet
There has been strong growth in spending over the last 5 years
There have been no material income shortfalls in recent years
Fundraising costs are unusually low relative to funds raised
The Board appears to be well diversified in terms of age and gender and dynamic in terms of composition

Regulatory & Governance issues to consider:

This charity does not have a Conflict of Interests policy

Financial issues to consider:

This charity has substantial assets and unrestricted reserves of £1,474,024 available, equivalent to 71 months of spending and so may not be able to utilise additional funding
There has been a change of accounting period recently, so trends may be hard to determine

Financial Data ?

Income & Spending ?

N.B. data has been adjusted to reflect year end change

Sources of Income ?

Y/E		Income £k	Spending £k	Surplus/ Deficit	Fundraising Cost £k	Total Funds £k	Unrestricted Funds £k	Mths Rsrvs	Staff
31/08/22		£678	£250	£429	£26	£4,825	£1,474	70.9	0
31/08/21?		£459	£182	£278	n/a	n/a	n/a	n/a	n/a
30/06/20?		£655	£165	£490	£0	£3,803	£885	64.5	0
31/07/19		£240	£66	£174	n/a	n/a	n/a	n/a	n/a
31/07/18		£173	£111	£62	£0	£0	£0	n/a	0
31/07/17		£123	£78	£45	£0	£0	£0	n/a	0
31/07/16		£203	£75	£128	£0	£0	£0	n/a	0
31/07/15		£634	£416	£218	£8	£2,195	£677	19.5	0
31/07/14		£136	£45	£92	£0	£0	£0	n/a	0
31/07/13		£151	£28	£123	£0	£0	£0	n/a	0
31/07/12	*	£422	£31	£391	£0	£0	£0	n/a	0
31/07/11		£1,209	£112	£1,097	£4	£1,099	£1,099	117.4	0
31/07/10		£0	£3	£-2	£0	£0	£0	n/a	0
31/07/09		£14	£1	£13	£0	£0	£0	n/a	0
31/07/08		£0	£0	£0	n/a	n/a	n/a	n/a	n/a

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Financial Ratios

Fundraising Costs/Relevant Income: 4.4%
Fundraising Costs/Total Spending: 10.5%
Highest pay band: Less than £60,000
Liabilities/Assets: 0%
Liabilities/Income: 3%
Unrestricted Funds/Total Funds: 31%
Reserves/Spending: 70.9 months
Net Current Assets/Spending: 26 months
Quick Ratio: 4.1

Asset Split ?

Established: 16 years

01458444596

Charity Commission for England and Wales

Listed activities

Education/Training

GiG Classification

Academic support

How it operates

Makes Grants to Individuals

Where it operates

Throughout England And Wales,

Who it helps

Children/Young People

Who's supporting them? ?

We have no records of donations from grant makers.

How is it governed?

Trustees (9)

Current Trustees appointed

Gender Split

Based on 8/9 persons

Age Range of Trustees: 39-76

ALEXANDRA WEST Appointed: 2022, Occupation: Bursar

BEHDAD ALIZADEH Appointed: 2017, Occupation: Company Director

DR ELEANOR SIAN DECAMP Appointed: 2024, Occupation: Stay At Home Mother

RACHAEL KNODELL BENNETT Appointed: 2022, Occupation: Stay At Home Mother

DOUGLAS BAZIL ANTHONY PINTO Appointed: 2018, Occupation: Retired / Chartered Accountant

MARC ALFRED LISTON SIMON Appointed: 2007, Occupation: Director

PETER MICHAEL JOHNSON Appointed: 2017, Occupation: Retired Headmaster

MR WILLIAM JOHN BUSHELL, Occupation: Deputy Chairman, Other trusteeships: BRITISH LIVER TRUST, MILLFIELD,

TIMOTHY PHILIP GRIFFITHS Appointed: 2008, Occupation: Chief Executive, Other trusteeship: MILLFIELD,

Legal constitution

Charitable company registered in England & Wales on 20/11/2007, number: 1121630
Registered at Companies House on 13/09/2007, number: 06370560

Gift Aid

Registered with HMRC for Gift Aid

Policies in force

Investment

Filing Record

15 returns made; AR12: 110 days late,

Main office

Millfield School
STREET
Somerset
BA16 0YD

Objectives

1 THE ADVANCEMENT OF EDUCATION THROUGH THE PROVISION OF SCHOLARSHIPS TO CURRENT AND PROSPECTIVE PUPILS OF MILLFIELD SCHOOL AND MILLFIELD PREPARATORY SCHOOL WHOSE PARENTS OR GUARDIANS ARE IN NEED OF FINANCIAL ASSISTANCE,2 THE PROMOTION OF SUCH OTHER PURPOSES BEING EXCLUSIVELY CHARITABLE ACCORDING TO THE LAW OF ENGLAND AND WALES AS THE TRUSTEES MAY FROM TIME TO TIME DETERMINE

Defined Area of Benefit:

UNDEFINED. IN PRACTICE NATIONAL

Data Sources