Finance Score: 0
Governance Score: 1
Support Score: 2
  • Low unrestricted reserves: -2
  • Strong growth: +2
  • Only 3 Trustees: -2
  • Good trustee age range: +3
  • Grant maker support: +2
Overall GiG Score: 3 ?

MIT FOUNDATION (UK) LIMITED 

The advancement of learning and education in particular at Massachusetts Institute of Technology; and such other exclusively charitable purposes as the Trustees may in their absolute discretion determine.
Analysis by Giving is Great

Positives:

  • The charity has received backing from a grant maker
  • There has been strong growth in spending over the last 5 years
  • There have been no material income shortfalls in recent years

Regulatory & Governance issues to consider:

  • There are only 3 trustees

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
30/06/23£5,434£5,431£3£0£6£6000
30/06/22£1,338£1,340£-2£0£3£3000
30/06/21£1,732£1,792£-60£0£5£5001
30/06/20£547£496£50£0£65£651.600
30/06/19£1,256£1,251£5£0£14£140.100
30/06/18£627£619£8£0£9£90.200
30/06/17£516£532£-15£0£1£1000
30/06/16£389£389£0£0£0£0n/a00
30/06/15£61£44£16£0£0£0n/a00

Financial Ratios
Fundraising Costs/Relevant Income: 0%
Fundraising Costs/Total Spending: 0%
Highest pay band: Less than £60,000
Liabilities/Assets: 100%
Liabilities/Income: 30%
Unrestricted Funds/Total Funds: 100%
Reserves/Spending: 0 months
Net Current Assets/Spending: 0 months
Quick Ratio: 1
Asset Split ?
Established: 10 years

02075022813

Charity Commission for England and WalesCompanies House
UN SDGs
?
Listed activities
  • Education/Training
  • General Charitable Purposes
GiG Classification
  • Grant-making foundations
How it operates
  • Makes Grants to Organisations
  • Sponsors or undertakes research
Where it operates
  • Throughout England And Wales, United States,
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
Tuixen Foundation - Core grant to MIT Foundation (UK)
£17,500 31/07/2020
MIT Foundation provides scholarships for British individuals to attend MIT.
Tuixen Foundation - Core grant to MIT Foundation (UK)
£17,500 09/07/2019
MIT Foundation provides scholarships for British individuals to attend MIT.
Tuixen Foundation - Core grant to MIT Foundation (UK)
£17,500 10/08/2018
MIT Foundation provides scholarships for British individuals to attend MIT.
Tuixen Foundation - Core grant to MIT Foundation (UK)
£17,500 12/07/2017
MIT Foundation provides scholarships for British individuals to attend MIT.
Tuixen Foundation - Core grant to MIT Foundation (UK)
£17,500 23/06/2016
MIT Foundation provides scholarships for British individuals to attend MIT.

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (3)
Current Trustees appointed

Age Range of Trustees: 39-59
Legal constitution
  • Charitable company registered in England & Wales on 07/10/2014, number: 1158803
  • Registered at Companies House on 25/06/2014, number: 09102473
Gift Aid
  • Registered with HMRC for Gift Aid
Policies in force
  • Complaints handling
  • Conflicting interests
  • Risk management
  • Safeguarding vulnerable beneficiaries
Filing Record
9 returns made; all on time
Main office

19 NORCOTT ROAD
LONDON
N16 7EJ

Objectives

THE OBJECTS OF THE CHARITY ARE: (A) THE ADVANCEMENT OF LEARNING AND EDUCATION IN PARTICULAR AT MASSACHUSETTS INSTITUTE OF TECHNOLOGY; AND (B) SUCH OTHER EXCLUSIVELY CHARITABLE PURPOSES AS THE TRUSTEES MAY IN THEIR ABSOLUTE DISCRETION DETERMINE.

Data Sources

Charity Commission for England and Wales
360 Giving
CharityBase
Authorised officials of this charity can add information to this page (including a Donate Now button) for no cost

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