Finance Score: -2

Governance Score: 4

Support Score: 7

Low unrestricted reserves: -2
Strong growth: +2
Multiple Deficits: -2

Narrow trustee age band: -2
Dynamic board: +3
Gender balanced board: +3

Grant maker support: +7

Overall GiG Score: 9

THE FARADAY INSTITUTION

Research, training and policy advice in the fields of energy capture, conversion and storage.

Analysis by Giving is Great

Positives:

There has been strong growth in spending over the last 5 years
A significant proportion of recent income was derived from major grant makers
The Board appears to be well diversified in terms of gender and dynamic in terms of composition

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

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	£34,542	£33,272	£1,270	£0	£4,433	£3,973	1.4	22
31/03/22	£30,223	£28,424	£1,799	£0	£3,163	£2,770	1.2	18
31/03/21	£24,330	£26,451	£-2,121	£0	£1,365	£1,196	0.5	13
31/03/20	£22,784	£23,988	£-1,204	£0	£3,486	£3,128	1.6	12
31/03/19	£15,577	£13,690	£1,887	£0	£4,690	£4,604	4	10
31/03/18	£14,852	£12,050	£2,803	£0	£2,803	£2,720	2.7	4

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Financial Ratios

Fundraising Costs/Relevant Income: 0%
Fundraising Costs/Total Spending: 0%
Senior Staff Costs/Total Spending: 4%
Highest pay band: £150,000-£200,000
Liabilities/Assets: 81%
Liabilities/Income: 55%
Unrestricted Funds/Total Funds: 90%
Reserves/Spending: 1.4 months
Net Current Assets/Spending: 2 months
Quick Ratio: 1.2

Asset Split ?

Established: 6 years

www.faraday.ac.uk

finance@faraday.ac.uk

01235425300

Charity Commission for England and Wales

Tweets

Listed activities

Arts/Culture/Heritage/Science
Education/Training
Environment/Conservation/Heritage

GiG Classification

Scientific research and testing services

How it operates

Makes Grants to Individuals
Makes Grants to Organisations
Provides advocacy/advice/information
Sponsors or undertakes research

Where it operates

Northern Ireland, Scotland, Throughout England And Wales,

Who it helps

The General Public/Mankind

Who works here?

22 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
Department for Business, Energy and Industrial Strategy - The Faraday Institution
£31,362,000	01/04/2022	Full Grant details (including summaries) can be found on the Gateway to Research website: https://gtr.ukri.org/projects?ref=EP/S003053/1
Department for Business, Energy and Industrial Strategy - SI Faraday Training
£1,814,235	01/04/2022	Full Grant details (including summaries) can be found on the Gateway to Research website: https://gtr.ukri.org/projects?ref=EP/S514901/1
Department for Business, Energy and Industrial Strategy - The Faraday Institution Phase 2 (107522) - F/Y2022-23 F/Y2024-25
£7,200,000	01/04/2022	Full Grant details (including summaries) can be found on the Gateway to Research website: https://gtr.ukri.org/projects?ref=107522
Foreign, Commonwealth & Development Office - 204867-111 TEA - Battery Challenge via Faraday Institution
£541,609	01/04/2022	TEA is the flagship FCDO research and innovation programme supporting early-stage testing and scale-up of innovative technologies and business models that accelerate access to affordable, clean, and ....more TEA is the flagship FCDO research and innovation programme supporting early-stage testing and scale-up of innovative technologies and business models that accelerate access to affordable, clean, and modern energy in developing countries, particularly in Sub-Sharan Africa, South Asia, and ASEAN region, enabling sustainable and inclusive growth. TEA has a budget of £225 million and seeks to improve clean energy access for 25 million people, create 170,000 long-term jobs in the clean energy market, and leverage £1.3 billion from private and public sources for clean energy technology research, innovation and scale-up. It contributes to International Climate Finance (ICF) objectives and is the main FCDO platform for the £1bn UK Ayrton Fund commitment for clean energy innovation between 2021 and 2026. TEA is being delivered by five lead FCDO partners - Carbon Trust, Innovate UK, Shell Foundation, and ESMAP and hundreds of downstream partners operating in the clean energy space.
Foreign, Commonwealth & Development Office - 204867-111 TEA - Battery Challenge via Faraday Institution
£531,763	01/04/2022	TEA is the flagship FCDO research and innovation programme supporting early-stage testing and scale-up of innovative technologies and business models that accelerate access to affordable, clean, and ....more TEA is the flagship FCDO research and innovation programme supporting early-stage testing and scale-up of innovative technologies and business models that accelerate access to affordable, clean, and modern energy in developing countries, particularly in Sub-Sharan Africa, South Asia, and ASEAN region, enabling sustainable and inclusive growth. TEA has a budget of £225 million and seeks to improve clean energy access for 25 million people, create 170,000 long-term jobs in the clean energy market, and leverage £1.3 billion from private and public sources for clean energy technology research, innovation and scale-up. It contributes to International Climate Finance (ICF) objectives and is the main FCDO platform for the £1bn UK Ayrton Fund commitment for clean energy innovation between 2021 and 2026. TEA is being delivered by five lead FCDO partners - Carbon Trust, Innovate UK, Shell Foundation, and ESMAP and hundreds of downstream partners operating in the clean energy space.
Foreign, Commonwealth & Development Office - 204867-111 TEA - Battery Challenge via Faraday Institution
£541,609	01/04/2022	TEA is the flagship FCDO research and innovation programme supporting early-stage testing and scale-up of innovative technologies and business models that accelerate access to affordable, clean, and ....more TEA is the flagship FCDO research and innovation programme supporting early-stage testing and scale-up of innovative technologies and business models that accelerate access to affordable, clean, and modern energy in developing countries, particularly in Sub-Sharan Africa, South Asia, and ASEAN region, enabling sustainable and inclusive growth. TEA has a budget of £225 million and seeks to improve clean energy access for 25 million people, create 170,000 long-term jobs in the clean energy market, and leverage £1.3 billion from private and public sources for clean energy technology research, innovation and scale-up. It contributes to International Climate Finance (ICF) objectives and is the main FCDO platform for the £1bn UK Ayrton Fund commitment for clean energy innovation between 2021 and 2026. TEA is being delivered by five lead FCDO partners - Carbon Trust, Innovate UK, Shell Foundation, and ESMAP and hundreds of downstream partners operating in the clean energy space.
Foreign, Commonwealth & Development Office - 204867-111 TEA - Battery Challenge via Faraday Institution
£531,763	01/04/2022	TEA is the flagship FCDO research and innovation programme supporting early-stage testing and scale-up of innovative technologies and business models that accelerate access to affordable, clean, and ....more TEA is the flagship FCDO research and innovation programme supporting early-stage testing and scale-up of innovative technologies and business models that accelerate access to affordable, clean, and modern energy in developing countries, particularly in Sub-Sharan Africa, South Asia, and ASEAN region, enabling sustainable and inclusive growth. TEA has a budget of £225 million and seeks to improve clean energy access for 25 million people, create 170,000 long-term jobs in the clean energy market, and leverage £1.3 billion from private and public sources for clean energy technology research, innovation and scale-up. It contributes to International Climate Finance (ICF) objectives and is the main FCDO platform for the £1bn UK Ayrton Fund commitment for clean energy innovation between 2021 and 2026. TEA is being delivered by five lead FCDO partners - Carbon Trust, Innovate UK, Shell Foundation, and ESMAP and hundreds of downstream partners operating in the clean energy space.

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Data sourced from Donors via 360 Giving

How is it governed?

Trustees (11)

Current Trustees appointed

Gender Split

Based on 10/11 persons

Age Range of Trustees: 47-64

CORDELIA O'HARA OBE Appointed: 2021

DR ESTHER TAYLOR Appointed: 2022, Occupation: Engineering Director

DR STEVEN CHARLES COWLEY Appointed: 2024, Occupation: Director Of Us National Laboratory And Professor

DR VENKAT SRINIVASAN Appointed: 2023, Occupation: Scientist

HANNO KIRNER Appointed: 2022, Occupation: Company Director

ISOBEL SHELDON OBE Appointed: 2021

MARK CHRISTOPHER NEWMAN Appointed: 2021, Occupation: Director

PROFESSOR PETER BRENT LITTLEWOOD FRS PHD BA (Chair) Appointed: 2017

PROFESSOR DAME LYNN GLADDEN Appointed: 2023, Occupation: University Professor

DR JORGE PIKUNIC Appointed: 2018, Occupation: Managing Director

PROFESSOR SIMON MARK SPEARING Appointed: 2018, Occupation: Pro Vice-Chancellor, Other trusteeship: SHERBORNE SCHOOL,

Legal constitution

Charitable company registered in England & Wales on 03/01/2018, number: 1176500
Registered at Companies House on 12/09/2017, number: 10959095

Gift Aid

NOT registered with HMRC for Gift Aid

Policies in force

Bullying and harassment policy and procedures
Complaints policy and procedures
Conflicting interests
Engaging external speakers at charity events policy and procedures
Financial reserves policy and procedures
Internal charity financial controls policy and procedures
Internal risk management policy and procedures
Investing charity funds policy and procedures
Risk management
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

6 returns made; all on time

Main office

QUAD ONE
BECQUEREL AVENUE
HARWELL CAMPUS
DIDCOT
OX11 0RA

Objectives

THE OBJECTS OF THE CHARITY ARE RESTRICTED TO THE ADVANCEMENT OF SCIENCE AND EDUCATION AND THE ADVANCEMENT OF ENVIRONMENTAL PROTECTION OR IMPROVEMENT FOR THE PUBLIC BENEFIT BY ENGAGING IN, ENCOURAGING, SUPPORTING AND EXPLOITING, BY WHATEVER MEANS, HIGH-QUALITY RESEARCH, AND RELATED TRAINING AND POLICY ADVICE, IN ENERGY CAPTURE, CONVERSION AND STORAGE, WITH A VIEW TO SECURING OUTCOMES WHICH WILL ADD TO SCIENTIFIC KNOWLEDGE, DELIVER ENVIRONMENTAL BENEFITS IN TERMS OF DECARBONISATION AND IMPROVED AIR QUALITY AND BENEFIT THE LIFE, HEALTH AND WELL-BEING OF HUMANKIND.

Data Sources