Overall GiG Score: -2 ?
Finance Score: -3
Governance Score: -2
Support Score: 3
  • Low unrestricted reserves: -2
  • Reasonable growth: +1
  • Multiple Deficits: -2
  • Narrow trustee age band: -2
  • Grant maker support: +3

THE PENNIES FOUNDATION 

PROMOTING THE VOLUNTARY SECTOR BY ENCOURAGING AND FACILITATING CHARITABLE GIVING THROUGH THE USE OF TECHNOLOGY (IN PARTICULAR USING PENNIES THE DIGITAL CHARITY BOX (PENNIES) DESIGNED TO MAKE IT EASIER TO GIVE TO CHARITY, AND MONITORING THE USE OF THE FUNDS BY CHARITABLE ORGANISATIONS.
Analysis by Giving is Great

Positives:

  • The charity has received backing from a grant maker
  • There has been reasonable growth in spending over the last 3 years relative to the previous period

Regulatory & Governance issues to consider:

  • The Board has little diversity in terms of age

Financial issues to consider:

  • Unrestricted reserves appear to be dangerously low at the latest year end
  • On several occasions in recent years income has been less than spending
Established: 16 years

www.pennies.org.uk

info@pennies.org.uk

02076009286

Charity Commission for England and WalesCompanies HouseFacebookInstagramX

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
31/12/22£7,435£7,558£-124£0£1,388£1,3882.2172
31/12/21£6,475£6,537£-62£0£1,511£1,4652.7155
31/12/20£5,651£6,154£-502£0£1,573£1,5163154
31/12/19£6,158£6,397£-240£0£2,076£1,9433.6152
31/12/18£5,572£5,224£348£0£2,315£2,3155.3143
31/12/17£4,229£3,811£418£0£1,967£1,9676.2130
31/12/16£2,986£3,425£-439£0£1,549£1,5285.4120
31/12/15£3,271£2,971£300£37£1,988£1,9738110
31/12/14£2,784£2,279£505£35£1,688£1,6448.7100
31/12/13£2,033£1,642£390£44£1,183£1,0988110
31/12/12£1,424£1,513£-89£39£793£7756.1110
31/12/11?£1,425£1,220£205£90£882£7997.9100
30/11/10£1,147£580£567£71£677£6771470
30/11/09£264£154£110£0£0£0n/a00
30/11/08£0£0£0n/an/an/an/an/a0

Financial Ratios
Fundraising Costs/Relevant Income: 0%
Fundraising Costs/Total Spending: 0%
Senior Staff Costs/Total Spending: 5%
Highest pay band: £80,000-£90,000
Liabilities/Assets: 57%
Liabilities/Income: 25%
Unrestricted Funds/Total Funds: 100%
Reserves/Spending: 2.2 months
Net Current Assets/Spending: 2 months
Quick Ratio: 1.1
Asset Split ?
What it does
  • General Charitable Purposes
  • Other Charitable Purposes
Who works here?
  • 17 employees
  • 2 volunteers
Who it helps
  • Other Charities Or Voluntary Bodies
  • The General Public/Mankind
How it operates
  • Makes Grants to Organisations
  • Other charitable activities
Where it operates
  • Ireland, Jersey, Northern Ireland, Scotland, Throughout England And Wales,

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
Pears Foundation - Grant to The Pennies Foundation
£300,000 22/03/2021
Core Funding
Garfield Weston Foundation - Major Grants award
£100,000 17/10/2018
Core Costs
Pears Foundation - Grant to The Pennies Foundation
£300,000 19/04/2018
36
Core funding
Pears Foundation - Grant to The Pennies Foundation
£200,000 03/05/2016
24
Core funding
Nesta - AC00296
£150,000 06/03/2013
Innovation in Giving programme grant to The Pennies Foundation Grant Ref AC00296
Barrow Cadbury Trust - Pennies
£20,000 25/05/2012
Pennies
Nesta - AC00245
£50,000 27/04/2012
Innovation in Giving programme grant to The Pennies Foundation Grant Ref AC00245
Show more rows

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (7)
Current Trustees appointed
Gender Split

Age Range of Trustees: 53-70
Legal constitution
  • Charitable company registered in England & Wales on 28/01/2008, number: 1122489
  • Registered at Companies House on 06/11/2007, number: 06418982
Gift Aid
  • Registered with HMRC for Gift Aid
Policies in force
  • Complaints handling
  • Conflicting interests
  • Investment
  • Paying staff
  • Risk management
  • Volunteer management
Filing Record
15 returns made; all on time
Main office

1st Floor
64 London Wall
London
EC2M 5TP

Objectives

1 THE PROMOTION OF THE VOLUNTARY SECTOR IN PARTICULAR (BUT NOT EXCLUSIVELY) BY ENCOURAGING AND FACILITATING CHARITABLE GIVING, ASSISTING IN THE APPLICATION OF FUNDS FOR CHARITABLE PURPOSES AND MONITORING THE USE OF SUCH FUNDS BY CHARITABLE ORGANISATIONS;2 THE PROMOTION OF THE EFFICIENCY AND EFFECTIVENESS OF CHARITIES AND THE EFFECTIVE USE OF CHARITABLE RESOURCES IN PARTICULAR (BUT NOT EXCLUSIVELY) BY PROVIDING ADVICE TO CHARITIES AND ORGANISATIONS SEEKING TO MAXIMISE CHARITABLE GIVING, EXCHANGING INFORMATION WITH SUCH CHARITIES AND ORGANISATIONS AND PROVIDING TECHNOLOGY AND INFRASTRUCTURE DESIGNED TO MAKE IT EASIER TO GIVE TO CHARITY; AND3 SUCH OTHER PURPOSES THAT ARE EXCLUSIVELY CHARITABLE AS THE TRUSTEES FROM TIME TOTIME THINK FIT (“THE OBJECTS”).

Defined Area of Benefit:

IN THE UK AND IN ANY OTHER COUNTRY; ANY PART OF THE WORLD; THROUGHOUT THE WORLD.

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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