Finance Score: -6

Governance Score: 5

Support Score: 4

Poor Liquidity: -1
Multiple Deficits: -2
Fundraising costs high: -3

12+ Trustees: -1
Good trustee age range: +3
Gender balanced board: +3

Grant maker support: +4

Overall GiG Score: 3

THE SERPENTINE TRUST

The Serpentine Trust's vision is to open up art, for everyone, for free. It is responsible for running the Serpentine Gallery and the Serpentine Sackler Gallery, whose mission is to exhibit, commission and promote the understanding of art, architecture and design through varied Exhibition, Education and Public Programmes.

Analysis by Giving is Great

Positives:

Spending has increased over the last 3 years relative to the previous period
A significant proportion of recent income was derived from major grant makers including the Government
The Board appears to be well diversified in terms of age and gender

Regulatory & Governance issues to consider:

There are 14 trustees whereas the Charities Commission recommends a maximum of 12

Financial issues to consider:

Liquidity appears to have been slender at the latest year end
On several occasions in recent years income has been less than spending
Fundraising costs are extremely high relative to funds raised

Established: 36 years

www.serpentinegalleries.org

information@serpentinegalleries.org

0207402 6075

Charity Commission for England and Wales

Tweets

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
31/03/23		£11,951	£13,549	£-1,598	£3,001	£12,226	£2,592	2.3	83
31/03/22		£10,428	£11,452	£-1,024	£2,993	£13,825	£2,674	2.8	75
31/03/21		£5,950	£6,761	£-810	£1,927	£13,848	£2,892	5.1	65
31/03/20		£11,145	£10,504	£641	£2,555	£13,659	£3,034	3.5	76
31/03/19		£9,618	£10,117	£-500	£2,900	£11,957	£1,687	2	92
31/03/18		£8,789	£9,112	£-324	£2,807	£12,427	£1,441	1.9	79
31/03/17		£9,395	£9,557	£-162	£2,391	£12,641	£582	0.7	76
31/03/16		£8,093	£8,378	£-285	£2,272	£12,302	£13	0	77
31/03/15		£7,005	£8,348	£-1,343	£2,058	£12,369	£-364	-0.5	76
31/03/14	*	£7,050	£6,817	£233	£1,487	£13,158	£198	0.3	64
31/03/13	*	£5,791	£6,090	£-299	£1,735	£10,807	£304	0.6	57
31/03/12	*	£9,962	£5,070	£4,892	£1,456	£10,192	£603	1.4	48
31/03/11		£9,707	£5,431	£4,277	£1,402	£5,300	£570	1.3	46
31/03/10		£4,991	£4,928	£63	£1,160	£1,023	£562	1.4	40
31/03/09		£5,538	£5,810	£-272	£1,407	£960	£744	1.5	51
31/03/08		£4,869	£5,170	£-301	£1,276	£1,232	£695	1.6	48
31/03/07		£5,359	£5,552	£-193	£1,250	£1,533	£668	1.4	45
31/03/06	*	£3,129	£3,452	£-322	£0	£0	£0	n/a	0
31/03/05		£2,455	£2,706	£-251	£0	£0	£0	n/a	0
31/03/04	*	£2,725	£3,017	£-293	£0	£0	£0	n/a	0

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Financial Ratios

Fundraising Costs/Relevant Income: 30.4%
Fundraising Costs/Total Spending: 22.1%
Senior Staff Costs/Total Spending: 7%
Highest pay band: £120,000-£130,000
Liabilities/Assets: 21%
Liabilities/Income: 27%
Unrestricted Funds/Total Funds: 21%
Reserves/Spending: 2.3 months
Net Current Assets/Spending: 2 months
Quick Ratio: 1

Asset Split ?

Listed activities

Arts/Culture/Heritage/Science
Education/Training

How it operates

Provides advocacy/advice/information
Provides services

Where it operates

Throughout England,

Who it helps

Children/Young People
Elderly/Old People
People Of A Particular Ethnic Or Racial Origin
People With Disabilities
The General Public/Mankind

Who works here?

83 employees

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
Wolfson Foundation - Grant to Serpentine
£150,000	07/12/2022	Air handling units in the South Gallery

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (14)

Current Trustees appointed

Gender Split

Based on 12/14 persons

Age Range of Trustees: 46-81

AMANDA MIRIAM SHARP Appointed: 2016, Occupation: Director

ANDREW COHEN Appointed: 2017, Occupation: Banker

BARRY TOWNSLEY CBE Appointed: 2012, Occupation: Stockbroker

JONATHAN PAUL WOOD Appointed: 2015, Occupation: Solicitor, Other trusteeship: COUNCIL FOR DANCE, DRAMA AND MUSICAL THEATRE,

LADY ELENA FOSTER OF THAMES BANK Appointed: 2022

LYNETTE YIADOM-BOAKYE Appointed: 2016, Occupation: Artist

MARCUS JARLATH BOYLE Appointed: 1993, Occupation: Accountant

MAJA HOFFMAN Appointed: 2018, Occupation: Producer, Founder Of Luma Foundation

MEGHA MITTAL Appointed: 2024, Occupation: Entrepreneur / Philanthropist

NICOLETTA FIORUCCI Appointed: 2019, Occupation: Founder Of The Fiorucci Art Trust

ROBERT ROSENKRANZ Appointed: 2019, Occupation: Financier And Philanthropist

RUTH MACKENZIE Appointed: 2017, Occupation: Artistic Director

THE HON MICHAEL R BLOOMBERG (Chair) Appointed: 2014, Occupation: Founder, Bloomberg L.P. & Former Mayor Of Nyc

THE HONORABLE MRS FELICITY WALEY-COHEN

Legal constitution

Charitable company registered in England & Wales on 21/03/1988, number: 298809
Registered at Companies House on 24/07/1987, number: 02150221

Gift Aid

Registered with HMRC for Gift Aid

Policies in force

Bullying and harassment policy and procedures
Campaigns and political activity policy and procedures
Complaints handling
Complaints policy and procedures
Conflicting interests
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
Trustee conflicts of interest policy and procedures
Trustee expenses policy and procedures

Filing Record

20 returns made; AR14: 1 days late, AR13: 2 days late, AR12: 1 days late, AR06: 1 days late, AR04: 1 days late,

Main office

Serpentine Gallery
Kensington Gardens
LONDON
W2 3XA

Objectives

TO PROMOTE, IMPROVE, DEVELOP AND MAINTAIN PUBLIC EDUCATION IN ALL FORMS OF ART AND MUSIC.

Defined Area of Benefit:

NOT DEFINED

Data Sources