Finance Score: -4

Governance Score: 9

Support Score: 1

Spending falling: -1
Volatile income: -3

Good trustee age range: +3
Dynamic board: +3
Gender balanced board: +3

Grant maker support: +1

Overall GiG Score: 6

THE VIRGIN MONEY FOUNDATION

Promoting the sustainable regeneration of socially or economically deprived communities in the UK, including by providing social investment in community housing and building projects, promoting opportunities for youth work, education, training and enterprise especially in such projects, relieving unemployment and the promotion of other community based projects.

Analysis by Giving is Great

Positives:

The charity has received backing from a grant maker
There have been no material income shortfalls in recent years
The Board appears to be well diversified in terms of age and gender and dynamic in terms of composition

Financial issues to consider:

There has been a change of accounting period recently, so trends may be hard to determine
Spending has fallen significantly over the last 5 years relative to the previous period
Income has been volatile recently

Established: 9 years

www.virginmoneyfoundation.org.uk

INFO@VIRGINMONEYFOUNDATION.ORG.UK

03301233624

Charity Commission for England and Wales

Financial Data ?

Income & Spending ?

N.B. data has been adjusted to reflect year end change

Sources of Income ?

Y/E		Income £k	Spending £k	Surplus/ Deficit	Fundraising Cost £k	Total Funds £k	Unrestricted Funds £k	Mths Rsrvs
30/09/22		£1,884	£1,725	£159	£0	£2,213	£1,930	13.4
30/09/21		£2,052	£1,976	£76	£0	£2,055	£1,627	9.9
30/09/20?		£1,602	£1,312	£290	£0	£1,979	£1,616	14.8
31/12/19		£1,571	£1,851	£-280	£0	£1,689	£1,586	10.3
31/12/18		£2,432	£2,447	£-15	£0	£1,969	£1,292	6.3
31/12/17		£3,310	£3,422	£-113	£0	£1,984	£802	2.8
31/12/16		£2,404	£1,264	£1,140	£0	£2,097	£2,037	19.3
31/12/15	*	£1,985	£1,028	£957	£37	£957	£853	10

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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: 24%
Liabilities/Income: 36%
Unrestricted Funds/Total Funds: 87%
Reserves/Spending: 13.4 months
Net Current Assets/Spending: 15 months
Quick Ratio: 4.2

Asset Split ?

Listed activities

General Charitable Purposes
Other Charitable Purposes

How it operates

Makes Grants to Individuals
Makes Grants to Organisations
Provides other finance
Provides services

Where it operates

Scotland, Throughout England And Wales,

Who it helps

Other Defined Groups
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
Esmee Fairbairn - Grant to Virgin Money Foundation
£15,000	05/07/2018 12	Towards supporting charitable organisations wishing to consider working in collaboration with others, to help drive social change across the North East region.
National Lottery Community Fund - iwill Fund
£850,000	22/02/2017 36	iwill Fund

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (8)

Current Trustees appointed

Gender Split

Based on 7/8 persons

Age Range of Trustees: 37-69

AMANDA JANET JORDAN Appointed: 2021, Occupation: Sustainability Management Consultant

EDWARD SPENCER YOUNGER Appointed: 2021, Occupation: Social Entrepreneur & Consultant

HANNAH ELIZABETH UNDERWOOD Appointed: 2020, Occupation: Company Director

JOANNE CURRY Appointed: 2015, Occupation: Chief Executive Of Voluntary Sector Organisation

KEITH MERRIN Appointed: 2021, Occupation: Director

KEITH RICHARD BURGE Appointed: 2020, Occupation: Economist

LORNA BENNIE Appointed: 2020, Occupation: Solicitor

MAZIN ALKIRWI Appointed: 2023, Occupation: Chartered Accountant

Legal constitution

Charitable company registered in England & Wales on 15/04/2015, number: 1161290
Registered at Companies House on 25/02/2015, number: 09457101

Gift Aid

Registered with HMRC for Gift Aid

Policies in force

Complaints handling
Conflicting interests
Investment
Risk management
Safeguarding vulnerable beneficiaries

Filing Record

8 returns made; AR15: 1 days late,

Main office

Jubilee House
Gosforth
NEWCASTLE UPON TYNE
NE3 4PL

Objectives

THE ONLY OBJECTS FOR WHICH THE CHARITY IS ESTABLISHED ARE FOR THE PUBLIC BENEFIT:1) TO PROMOTE THE SUSTAINABLE REGENERATION OF SOCIALLY OR ECONOMICALLY DEPRIVED COMMUNITIES IN THE UK BY WHATEVER CHARITABLE MEANS THE TRUSTEES THINK FIT INCLUDING (BUT NOT LIMITED TO) BY PROVIDING SOCIAL INVESTMENT IN COMMUNITY HOUSING AND BUILDING PROJECTS, PROMOTING OPPORTUNITIES FOR YOUTH WORK, EDUCATION, TRAINING AND ENTERPRISE ESPECIALLY IN SUCH PROJECTS, RELIEVING UNEMPLOYMENT AND THE PROMOTION OF OTHER COMMUNITY BASED PROJECTS; AND2) TO FURTHER SUCH OTHER EXCLUSIVELY CHARITABLE PURPOSES IN THE UK ACCORDING TO THE LAW OF ENGLAND & WALES AS THE TRUSTEES IN THEIR ABSOLUTE DISCRETION FROM TIME TO TIME DETERMINE (“THE OBJECTS”).

Data Sources