Finance Score: 3
Governance Score: 5
Support Score: 11
  • Low unrestricted reserves: -2
  • Strong growth: +2
  • Fundraising costs low: +3
  • No conflicts policy: -1
  • Good trustee age range: +3
  • Dynamic board: +3
  • Grant maker support: +11
Overall GiG Score: 19 ?

MYBNK 

MyBnk brings financial education and enterprise to life in UK schools and youth groups. We provide workshops and business experiences using real money covering a rage topics from budgeting and student finance to debt and social enterprise.
Analysis by Giving is Great

Positives:

  • The charity has received backing from multiple prominent grant makers recently
  • 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 low relative to funds raised
  • The Board appears to be well diversified in terms of age and dynamic in terms of composition

Regulatory & Governance issues to consider:

  • This charity does not have a Conflict of Interests policy
  • Over half the Board have joined recently

Financial issues to consider:

  • Unrestricted reserves appear to be dangerously low at the latest year end

Financial Data ?

Income & Spending ?
Sources of Income ?
Y/E Income
£k
Spending
£k
Surplus/
Deficit
Fundraising
Cost £k
Total
Funds £k
Unrestricted
Funds £k
Mths
Rsrvs
Staff Volun-
teers
31/08/23£3,254£3,365£-111£318£1,052£6822.460150
31/08/22£2,565£2,338£227£243£1,162£785442250
31/08/21£2,121£2,024£97£161£936£49934025
31/08/20£2,088£1,949£139£0£839£3882.43950
31/08/19£1,828£1,652£176£0£700£2161.631150
31/08/18£1,584£1,535£49£0£524£2151.7310
31/08/17£1,552£1,243£309£0£476£1771.7220
31/08/16£1,101£1,143£-42£0£167£800.8220
31/08/15£1,065£1,040£24£7£216£1271.5210
31/08/14£960£1,039£-79£6£192£1451.7220
31/08/13£929£766£163£7£271£881.4180
31/08/12£684£682£1£5£108£811.4160
31/08/11£609£518£91£7£107£200.5120
31/08/10£320£326£-6£0£0£0n/a00
31/08/09£215£197£17£0£0£0n/a00

Financial Ratios
Fundraising Costs/Relevant Income: 9.8%
Fundraising Costs/Total Spending: 9.5%
Senior Staff Costs/Total Spending: 11%
Highest pay band: £90,000-£100,000
Liabilities/Assets: 25%
Liabilities/Income: 11%
Unrestricted Funds/Total Funds: 65%
Reserves/Spending: 2.4 months
Net Current Assets/Spending: 4 months
Quick Ratio: 3.3
Asset Split ?
Established: 16 years

www.mybnk.org

info@mybnk.org

020 3581 9920

Charity Commission for England and WalesCompanies HouseXYouTube
UN SDGs
?
Listed activities
  • Education/Training
GiG Classification
  • Social youth organisations
How it operates
  • Makes Grants to Individuals
  • Provides services
Where it operates
  • Scotland, Throughout England,
Who it helps
  • Children/Young People

Who's supporting them? ?

Donations from Grant Makers ?

We have details on the following significant donations. Multi-year donations are allocated to the years for which they are earmarked.

Major supporters in last 5 years
The Berkeley Foundation£1,088,794
Garfield Weston Foundation£175,000
John Lyon's Charity£90,000
Trust for London£86,000
City Bridge Trust£65,000
Robertson Trust£46,500
Specific Donations
Amount When
Months
To be used for
The Berkeley Foundation - Match funding payment
£438 31/10/2023
Unrestricted match funding payment to October 2023
The Berkeley Foundation - Match funding payment
£362 31/07/2023
Unrestricted match funding payment to July 2023
The Berkeley Foundation - Match funding payment
£340 30/04/2023
Unrestricted match funding payment to to April 2023
The Berkeley Foundation - Cost of Living Grant
£10,000 26/04/2023
One-off, unrestricted grant
The Berkeley Foundation - Match funding payment
£315 31/01/2023
Unrestricted match funding payment to to January 2023
City Bridge Trust - Grant to MyBnk
£65,000 24/11/2022
24
£65,000 over two years (£35,000; £30,000) to contribute to MyBnk’s Money Works programme for care leavers in London.
John Lyon's Charity - Main grant to MyBnk
£90,000 17/11/2022
Financial Literacy for Primary School Age
The Berkeley Foundation - Match funding payment
£5,715 31/10/2022
Unrestricted match funding payment to October 2022
Trust for London - MyBnk
£6,000 29/09/2022
This is a cost of living uplift for grant reference 360G-trustforlondon-MAIN-S2-05.10.2021-9322
The Berkeley Foundation - Match funding payment
£15 31/07/2022
Unrestricted match funding payment to July 2022
The Berkeley Foundation - Match Funding payment
£15 30/04/2022
Unrestricted match funding payment to April 2022
The Berkeley Foundation - Foundation award grants
£1,000 29/03/2022
Unrestricted 2022 Foundation Awards grant
Trust for London - MyBnk
£80,000 09/02/2022
The funding is for furthering work with disadvantaged young people at risk of homelessness through a Thought Leadership campaign. The campaign will utilise the voices of London care leavers to ....more
The Berkeley Foundation - Match funding payment
£15 31/01/2022
Unrestricted match funding payment to January 2022
Garfield Weston Foundation - Multi-Year Grant (3 Years) award
£100,000 03/12/2021
36
Money Works +
The Berkeley Foundation - Match funding payment
£10 31/10/2021
Unrestricted match funding payment to October 2021
The Berkeley Foundation - Strategic Partnership
£1,040,469 10/08/2021
Strategic Partnership over 3 years, supporting the delivery of the Money House programme - Year 1 of 3
The Berkeley Foundation - Focus group attendance donation
£100 15/03/2021
Unrestricted donation to a charity in thanks for attending a focus group session
David & Elaine Potter Foundation - Core funding
£25,000 16/12/2020
12
Core funding
The Berkeley Foundation - Emergency Covid-19 grant
£15,000 13/11/2020
One off unrestricted grant to help the charity with the impact of Covid-19 on its fundraising
Garfield Weston Foundation - Main Grants award - COVID19 response
£75,000 19/06/2020
MyBnk Unrestricted Support
Robertson Trust - Salary costs of the FT Regional Education Officer (Scotland)
£46,500 10/09/2019
Salary costs of the FT Regional Education Officer (Scotland)
The Berkeley Foundation - Salesforce: A route to organisational growth
£15,000 30/07/2019
Capacity building grant supporting the Salesforce consultancy costs and the implementation of a new CRM across the organisation.
Department for Work and Pensions - ALB - MaPS - Working Age Financial Capability Youth Checkpoints (Under 25s) - England
£100,227 01/04/2019
Support for Youth Checkpoints Model – support for under-25s at key transition points – as part of the wider working-age commissioning plan.
City Bridge Trust - Grant to MyBnk
£135,000 21/03/2019
36
£135,000 over three years (£50,000; £45,000; £40,000) to contribute to MyBnk’s specialist support services for disabled young people or care leavers in London.
Paul Hamlyn Foundation - Furthering Youth Engagement and Evaluation
£60,000 11/03/2019
24
Follow-on funding to create a new Youth Engagement Team to develop and strengthen programme participation and support further evaluation.
John Ellerman Foundation - to establish a hub in the North West
£120,000 26/07/2018
36
Towards the costs of establishing a new hub in Liverpool to work with disadvantaged young people across the North West to empower them to be more in control of their finances
Garfield Weston Foundation - Main Grants award
£75,000 05/07/2018
Programme Development and Delivery
Paul Hamlyn Foundation - MyBnk's Impact Centre: Creating a Financially Resilient Generation
£60,000 21/03/2016
24
MyBnk designs and delivers financial and enterprise workshops to young people aged 11-25 in schools and youth organisations. The grant is to fund the Quality and Training Director who leads on ....more
City Bridge Trust - Grant to MyBnk
£60,000 13/05/2015
£60,000 for one year towards the costs of the Money Works programme specifically for young care leavers. The sum includes a 15% contribution to core costs.
National Lottery Community Fund - MyBnk North East
£10,000 10/09/2014
12
Not Available
Esmee Fairbairn - Grant to MyBnk
£125,078 24/06/2014
Towards core costs of an organisation that delivers financial and enterprise education.
Dulverton Trust - MyBnk Expansion in the South-West
£72,000 25/02/2014
MyBnk Expansion in the South-West
Tudor Trust - Grant to MyBnk
£35,000 30/01/2014
over one year as continuation funding for personal finance and enterprise education work with young people across the UK
National Lottery Community Fund - MyBnk - Building a nation of young entrepreneurs
£287,644 03/09/2013
36
This project is an expansion of an existing service run by MyBnk which aims to build the knowledge, skills and attitudes of young people (YP), through the delivery of interactive enterprise education ....more
Walcot Foundation - Financial literacy and enterprise education
£60,000 20/11/2012
Financial literacy and enterprise education
Dulverton Trust - national partnerships to expand MyBnk's reach
£25,000 15/02/2012
national partnerships to expand MyBnk's reach
Esmee Fairbairn - Grant to MyBnk
£145,000 29/01/2009
36
Towards Unrestricted core costs Towards the costs of expanding financial education work in London and the South East.
Show more rows

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (8)
Current Trustees appointed

Age Range of Trustees: 26-62
  • ASESH SARKAR (Chair) Appointed: 2020, Occupation: Chief Executive
Legal constitution
  • Charitable company registered in England & Wales on 21/04/2008, number: 1123791
  • Registered at Companies House on 17/04/2007, number: 06215005
Gift Aid
  • Registered with HMRC for Gift Aid
Policies in force
  • Bullying and harassment policy and procedures
  • Complaints handling
  • Complaints policy and procedures
  • Financial reserves policy and procedures
  • Internal charity financial controls policy and procedures
  • Internal risk management policy and procedures
  • Investing charity funds policy and procedures
  • Paying staff
  • Risk management
  • Safeguarding policy and procedures
  • Safeguarding vulnerable beneficiaries
  • Serious incident reporting policy and procedures
  • Social media policy and procedures
  • Volunteer management
Filing Record
15 returns made; all on time
Main office

MyBnk
3 Bath Place
LONDON
EC2A 3DR

Objectives

ALL PURPOSES WHICH ARE CHARITABLE UNDER THE LAWS OF ENGLAND AND WALES INCLUDING, TO ACT AS A RESOURCE FOR YOUNG PEOPLE BY PROVIDING ADVICE AND ASSISTANCE AND ORGANISING PROGRAMMES OF EDUCATIONAL AND OTHER ACTIVITIES AS A MEANS OF:1 ADVANCING IN LIFE AND HELPING YOUNG PEOPLE BY DEVELOPING THEIR SKILLS, CAPACITIES AND CAPABILITIES TO ENABLE THEM TO PARTICIPATE IN SOCIETY AS INDEPENDENT, MATURE AND RESPONSIBLE INDIVIDUALS; OR2 ADVANCING EDUCATION; OR3 RELIEVING FINANCIAL HARDSHIP.

Defined Area of Benefit:

UNDEFINED. IN PRACTICE NATIONAL

Data Sources

Charity Commission for England and Wales
360 Giving
CharityBase

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