Finance Score: -3

Governance Score: 3

Support Score: 5

Liabilities <10%: +3
Excess reserves: -5
Spending falling: -1

Dynamic board: +3

Overall weighted support: +5

Overall GiG Score: 5

THE NATIONAL GALLERY TRUST

The objects of the Trust are the advancement of education and the charitable objects of the National Gallery. The Trust achieves this by making grants to organisations.

Analysis by Giving is Great

Positives:

This charity has a robust balance sheet
A significant proportion of recent income was derived from major grant makers
The Board appears to be dynamic in terms of composition

Regulatory & Governance issues to consider:

This charity only provides its support via other charities

Financial issues to consider:

This charity has substantial assets and unrestricted reserves of £49,102,943 available, equivalent to 146 months of spending and so may not be able to utilise additional funding
Spending has fallen significantly over the last 5 years relative to the previous period

Financial Data ?

Income & Spending ?

Sources of Income ?

Y/E		Income £k	Spending £k	Surplus/ Deficit £k	Fundraising Cost £k	Total Funds £k	Unrestricted Funds £k	Mths Rsrvs	Staff	Volun- teers
31/03/23		£6,261	£4,042	£2,219	£423	£112,584	£49,103	145.8	0	0
31/03/22		£7,126	£7,461	£-335	£429	£115,235	£49,865	80.2	0	0
31/03/21		£9,171	£5,593	£3,578	£4,364	£109,607	£46,682	100.2	63	0
31/03/20		£14,323	£23,966	£-9,644	£10,270	£83,821	£37,392	18.7	95	0
31/03/19		£14,406	£12,952	£1,454	£9,556	£96,624	£38,856	36	94	0
31/03/18		£17,616	£16,278	£1,339	£8,484	£90,039	£36,138	26.6	90	0
31/03/17		£14,310	£9,921	£4,389	£8,020	£87,086	£35,211	42.6	86	0
31/03/16	*	£14,570	£8,628	£5,942	£7,477	£80,253	£33,543	46.7	82	0
31/03/15		£17,772	£11,416	£6,355	£7,583	£75,565	£33,957	35.7	83	0
31/03/14	*	£15,806	£8,411	£7,395	£6,486	£67,831	£33,509	47.8	82	0
31/03/13		£16,348	£6,704	£9,643	£5,977	£58,917	£30,260	54.2	0	0
31/03/12		£21,098	£15,580	£5,518	£7,476	£47,908	£28,224	21.7	0	0
31/03/11		£13,061	£11,641	£1,420	£6,286	£42,603	£25,568	26.4	0	0
31/03/10		£12,288	£6,620	£5,668	£6,465	£39,403	£23,077	41.8	83	0
31/03/09		£8,759	£6,133	£2,626	£5,994	£30,196	£19,685	38.5	81	0
31/03/08		£9,861	£6,107	£3,753	£5,958	£30,029	£20,062	39.4	83	0
31/03/07		£11,630	£11,482	£149	£6,836	£25,958	£18,429	19.3	85	0
31/03/06		£9,493	£579	£8,915	n/a	n/a	n/a	n/a	n/a	n/a
31/03/05		£2,591	£2,545	£46	n/a	n/a	n/a	n/a	n/a	n/a
31/03/04		£4,151	£6,121	£-1,969	n/a	n/a	n/a	n/a	n/a	n/a

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Financial Ratios

Fundraising Costs/Relevant Income: 14.9%
Fundraising Costs/Total Spending: 18.6%
Highest pay band: Less than £60,000
Liabilities/Assets: 3%
Liabilities/Income: 50%
Unrestricted Funds/Total Funds: 44%
Reserves/Spending: 145.8 months
Net Current Assets/Spending: 44 months
Quick Ratio: 4.5

Asset Split ?

Balance Sheet History

Established: 36 years

victoria.hayes@ng-london.org.uk

02077472436

Charity Commission for England and Wales

Listed activities

Arts/Culture/Heritage/Science

GiG Classification

Performing and visual arts

How it operates

Makes grants to organisations

Where it operates

Throughout England And Wales,

Who it helps

Other Charities Or Voluntary Bodies

Who supports them? ?

Donations from Grant Makers ?

We have details on the following donations. Multi-year donations are allocated to the years for which they are earmarked.

Specific Donations

Amount	When Months	To be used for
Garfield Weston Foundation - Main Grants award
£4,500	02/05/2023	6x Tickets to the 2023 National Gallery Summer Party
Rothschild Foundation - Grant to National Gallery Trust
£10,000	01/03/2023	Cost of living supplementary grant
Garfield Weston Foundation - Major Grants award
£10,000,000	20/02/2023	NG200 Project
Rothschild Foundation - Grant to National Gallery
£25,000	11/01/2023	The reframing of Piero della Francesca’s ‘The Nativity’, following the painting’s extensive conservation treatment.
Rothschild Foundation - Grant to National Gallery
£5,000	09/01/2023	Support for the delivery of an Articulation Prize 2023 event at Waddesdon Manor

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (7)

Current Trustees appointed

Gender Split

ANDREW ROSS Appointed: 2019

CAROLINE THOMSON Appointed: 2019

CHARLES SEBAG-MONTEFIORE CBE Appointed: 2022

DAVID SYMONDSON Appointed: 2024

ISABEL EMO CAPODILISTA Appointed: 2021

JOHN FREDERICK NELSON (Chair) Appointed: 2018

JOHN BOOTH Appointed: 2021

Legal constitution

Charity registered in England & Wales on 21/06/1988, number: 299509

Gift Aid

Registered with HMRC for Gift Aid

Policies in force

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
Investment
Risk management
Trustee conflicts of interest policy and procedures
Trustee expenses policy and procedures

Filing Record

20 returns made; AR16: 1 days late, AR14: 1 days late,

Main office

C/O THE NATIONAL GALLERY
TRAFALGAR SQUARE
LONDON
WC2N 5DN

Objectives

THE ADVANCEMENT OF EDUCATION AND THE CHARITABLE OBJECTS OF THE NATIONAL GALLERY.

Defined Area of Benefit:

NOT DEFINED

Data Sources

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