Finance Score: 2

Governance Score: -8

Support Score: 11

Strong growth: +2
No PartB

Only 3 Trustees: -2
Static board: -3
All male board: -3

Large volunteers +3
Grant maker support: +8

Overall GiG Score: 5

RELEASE FINANCIAL CHARITY

Release is a money education charity and home of Budget Buddies. Providing money education (financial capability) training, guidance & information to educate & equip people with the crucial life skill of managing their finances & making informed choices. Including practical help with budgeting & related support. Budget Buddies is a mentoring scheme supporting people manage their finances. .

Analysis by Giving is Great

Positives:

This charity has been successful in attracting volunteers relative to its size
There has been strong growth in spending over the last 5 years
There have been no material income shortfalls in recent years
A significant proportion of recent income was derived from major grant makers including the Government

Regulatory & Governance issues to consider:

One or more trustees receive benefits from the charity
There are only 3 trustees
The Board is completely male
The Board composition appears to be rather static

Financial issues to consider:

A PartB annual return has not been required and so detailed financial information is not available from the online data

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
31/03/23	£90	£85	£5	n/a	n/a	n/a	n/a	n/a	24
31/03/22	£90	£83	£7	n/a	n/a	n/a	n/a	n/a	19
31/03/21	£147	£80	£66	n/a	n/a	n/a	n/a	n/a	23
31/03/20	£37	£53	£-16	n/a	n/a	n/a	n/a	n/a	30
31/03/19	£50	£36	£14	n/a	n/a	n/a	n/a	n/a	30
31/03/18	£40	£40	£0	£0	£0	£0	n/a	0	0
31/03/17	£31	£30	£1	£0	£0	£0	n/a	0	0
31/03/16	£18	£32	£-14	£0	£0	£0	n/a	0	0
31/03/15	£87	£50	£36	£0	£0	£0	n/a	0	0

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Highest pay bracket: less than £60,000

Established: 10 years

www.releaseonline.org.uk

info@releaseonline.org.uk

01773 306289

Charity Commission for England and Wales

Tweets

Listed activities

General Charitable Purposes
The Prevention Or Relief Of Poverty

GiG Classification

Other individual and family services

How it operates

Provides advocacy/advice/information
Provides services

Where it operates

Derbyshire, Nottinghamshire,

Who it helps

The General Public/Mankind

Who works here?

Unknown number of employees
24 volunteers

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

National Lottery Community Fund	£375,375
Lloyds Bank Foundation	£52,250
CAF	£5,000

Specific Donations

Amount	When Months	To be used for
Lloyds Bank Foundation - One off gift towards cost of living crisis to Release Financial Charity
£2,250	14/12/2022	One off gift to support with the cost of living crisis
National Lottery Community Fund - Releasing
£375,375	26/05/2022	This funding will support Release Financial Charity (Release) to deliver money education and debt advice activities in areas of Derbyshire and Nottinghamshire through their Community Money Advice ....more This funding will support Release Financial Charity (Release) to deliver money education and debt advice activities in areas of Derbyshire and Nottinghamshire through their Community Money Advice Centre receiving £375375 over 3 and a half years. The ‘Releasing’ project will build grassroots capacity through the ‘Budget Buddies’ initiative which empowers and utilises friendship networks in the community enhanced and backed by Release’s specialist and professional support.
Lloyds Bank Foundation - Recovery grant to Release Financial Charity
£50,000	09/12/2020 24	Unrestricted grant over two years towards the core costs of Release Financial Charity, awarded under the Foundation's Mental Health funding stream. Part of the Covid Recovery Fund to support ....more Unrestricted grant over two years towards the core costs of Release Financial Charity, awarded under the Foundation's Mental Health funding stream. Part of the Covid Recovery Fund to support charities to emerge from the pandemic.
CAF - Grant to Release Financial Charity
£5,000	06/05/2020 3	Grant to Release Financial Charity to support the organisation through COVID19
National Lottery Community Fund - Budget Buddies Project
£10,000	26/04/2019 12	The funding will be used to provide budgeting advice and coaching sessions. The project aims to help people with access to practical support about debt management and accessing essential services.
Ministry of Defence - ALB - Armed forces Covenant Fund Trust- Covenent Fund
£20,000	01/04/2018	Armed Forces Covenant Local Grants for local projects that support community integration or local delivery of services.
Henry Smith Charity - Grant to Release (Financial) Charitable Trust
£87,300	13/06/2012 36	towards three years' running costs of an organisation providing support to people with severe debt problems in Derbyshire

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Data sourced from Donors via 360 Giving

How is it governed?

Trustees (3)

Current Trustees appointed

Gender Split

FRANCIS MICHAEL LAURENCE O'BRIEN Appointed: 2018

IAN REID GLOVER (Chair) Appointed: 2014, Other trusteeship: THE MIRACLE DESTINY TRUST,

PAUL JOHN STEARS Appointed: 2014, Other trusteeship: TRAFALGAR CHRISTIAN CONGREGATION,

Legal constitution

Charity registered in England & Wales on 10/01/2014, number: 1155290

Gift Aid

Registered with HMRC for Gift Aid

Policies in force

Bullying and harassment 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
Paying staff
Risk management
Safeguarding policy and procedures
Safeguarding vulnerable beneficiaries
Serious incident reporting policy and procedures
Trustee conflicts of interest policy and procedures
Trustee expenses policy and procedures
Volunteer management

Filing Record

9 returns made; all on time

Main office

Enterprise House
5 Newton Road
Tibshelf
Alfreton
Derbyshire
DE55 5PH

Objectives

THE TRUSTEES MUST APPLY THE INCOME OF THE CHARITY IN FURTHERING THE FOLLOWING OBJECTS FOR THE BENEFIT OF THE INHABITANTS OF THE EAST MIDLANDS OR OTHER PARTS OF ENGLAND AND WALES AS THE TRUSTEES SHALL FROM TIME TO TIME DETERMINE:(1) THE RELIEF OF POVERTY AND UNEMPLOYMENT FOR THE BENEFIT OF THE PUBLIC BY THE PROVISION OF DEBT ADVICE SERVICES, INFORMATION AND ASSISTANCE IN RELATION TO DEBT AND PERSONAL FINANCIAL MANAGEMENT; AND (2) THE ADVANCEMENT OF EDUCATION IN MONEY MATTERS AND DEBT MANAGEMENT.

Data Sources