Finance Score: -6

Governance Score: -6

Support Score: 0

Deficit on unrestricted reserves: -2
Spending falling: -1
Volatile income: -3

Only 3 Trustees: -2
Narrow trustee age band: -2
Very static board: -5
Gender balanced board: +3

No supporters identified

Overall GiG Score: -12

PARABOLA FOUNDATION

To further charitable and cultural projects that will bring benefit to the public

Analysis by Giving is Great

Positives:

The charity has received modest backing from a grant maker recently
This charity has an endowment fund which generates most of its income

Regulatory & Governance issues to consider:

This charity is not recognised by HMRC for Gift Aid according to its latest published return
There are only 3 trustees
The Board composition appears to be very static and has little diversity in terms of age

Financial issues to consider:

There was a deficit on unrestricted reserves of £724,664 at the last year end after deducting the value of own use assets
Spending has fallen significantly over the last 5 years relative to the previous period
Income has been volatile recently

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
31/03/23		£514	£441	£73	£0	£-725	£-725	-19.7
31/03/22		£500	£620	£-120	£0	£-798	£-798	-15.4
31/03/21		£863	£621	£242	£0	£-678	£-678	-13.1
31/03/20		£613	£881	£-268	£0	£-920	£-920	-12.5
31/03/19		£726	£1,005	£-278	£0	£-652	£-652	-7.8
31/03/18		£2,060	£2,237	£-176	£0	£-374	£-374	-2
31/03/17		£11	£775	£-764	£0	£0	£0	n/a
31/03/16		£1,418	£882	£536	£0	£576	£576	7.8
31/03/15	*	£105	£65	£40	£0	£0	£0	n/a

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Financial Ratios

Fundraising Costs/Relevant Income: 0%
Fundraising Costs/Total Spending: 0%
Highest pay band: Less than £60,000
Liabilities/Assets: 688%
Liabilities/Income: 165%
Unrestricted Funds/Total Funds: 100%
Reserves/Spending: -19.7 months
Net Current Assets/Spending: -2 months
Quick Ratio: 0.2

Asset Split ?

Established: 10 years

0191 500 8571

Charity Commission for England and Wales

Listed activities

Arts/Culture/Heritage/Science
Education/Training
Environment/Conservation/Heritage
General Charitable Purposes
The Prevention Or Relief Of Poverty

GiG Classification

Grant-making foundations

How it operates

Makes Grants to Organisations

Where it operates

Throughout England,

Who it helps

The General Public/Mankind

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.

Specific Donations

Amount	When Months	To be used for
Co-Operative Group - Grant to Early Nourishment
£1,212	21/10/2023	We would like to combat loneliness and isolation in new parents by offering more free support and activities in Barnstaple. This helps to improve parental mental health, which in turn benefits babies.
Devon Community Foundation - Grant to Early Nourishment Community Interest Company
£2,000	13/12/2022	COST OF LIVING - activities and classes for new parents and young children in North Devon
Devon Community Foundation - Flourish
£2,000	07/07/2021	Delivery of regular support groups for parents of children up to 5 years of age, helping to reduce loneliness, encouraging peer support and encouraging positive mental health

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (3)

Current Trustees appointed

Gender Split

Age Range of Trustees: 62-75

ANNE DEBORAH MILLICAN Appointed: 2014, Occupation: Company Director, Other trusteeship: KINGS PLACE MUSIC FOUNDATION,

DEBORAH JUDE Appointed: 2016, Occupation: Lawyer, Other trusteeship: KINGS PLACE MUSIC FOUNDATION,

PETER JOHN MILLICAN (Chair) Appointed: 2014, Occupation: Company Director, Other trusteeships: POVERTY RELIEF FOUNDATION LIMITED, KINGS PLACE MUSIC FOUNDATION,

Legal constitution

Charitable company registered in England & Wales on 04/03/2014, number: 1156008
Registered at Companies House on 12/12/2013, number: 08812870

Gift Aid

NOT registered with HMRC for Gift Aid

Policies in force

Complaints policy and procedures
Financial reserves policy and procedures
Internal charity financial controls policy and procedures
Internal risk management policy and procedures
Safeguarding policy and procedures
Serious incident reporting policy and procedures
Trustee conflicts of interest policy and procedures

Filing Record

9 returns made; AR15: 32 days late,

Main office

Level 4
Dashwood House
69 Old Broad Street
LONDON
EC2M 1QS

Objectives

THE CHARITY'S OBJECTS ARE SPECIFICALLY RESTRICTED TO SUCH PURPOSES AS SHALL BE EXCLUSIVELY CHARITABLE AS THE TRUSTEES IN THEIR ABSOLUTE DISCRETION FROM TIME TO TIME THINK FIT.

Data Sources