PRAISE TABERNACLE
The principal activity of the charity is the advancement of the Christian religion and the relief of poverty.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net deficit of £43,412 for the year, resulting in unrestricted net assets falling to £27,840 from £71,252 the previous year. The trustees have established a reserves policy target of three months of annual expenditure, which the current free reserves of £27,840 appear to be below given the annual expenditure of £490,095. The charity is dependent on voluntary tithes and offerings for funding and has no stated reserves policy target other than the three-month expenditure benchmark.
What the accounts disclose
“The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the church should be 3 months of annual expenditure.” — page 6
“The church supports other charities and missionary that shares its objects in advancement of Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in need.” — page 3
Trustees
- Moronfola Adeshakinchair
- Ayodolapo Ogunmoyero
- Boaz Adedamilola Adelekan
- Delphine Adamu
- Dr Ayodele Awe
- Susanna Oluwatamilore Fadeyi
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £447k | £490k |
| 31/12/2023 | £398k | £347k |
| 31/12/2022 | £305k | £312k |
| 31/12/2021 | £281k | £262k |
| 31/12/2020 | £222k | £223k |
Common questions
Is PRAISE TABERNACLE financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net deficit of £43,412 for the year, resulting in unrestricted net assets falling to £27,840 from £71,252 the previous year. The trustees have established a reserves policy target of three months of annual expenditure, which the current free reserves of £27,840 appear to be below given the annual expenditure of £490,095. The charity is dependent on voluntary tithes and offerings for funding and has no stated reserves policy target other than the three-month expenditure benchmark. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| SANTANDER UK FOUNDATION LIMITED | 1 | £124k |
| THE FYRISH FOUNDATION | 1 | £14k |
| THE HOBSON CHARITY LIMITED | 1 | £5k |
| THE COLE CHARITABLE TRUST | 1 | £2k |
Charities like this
- CHRIST FAITH TABERNACLE INTERNATIONAL
- HOUSE OF PRAISE TRUST
- THE REDEEMED CHRISTIAN CHURCH OF GOD ARK OF GOD PARISH
- THE C3 CHURCH
- TABERNACLE BAPTIST CHURCH, PENARTH
- KINGDOM FAITH CHURCH LONDON
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| PRAISE TABERNACLE | £447k | — | 0 | unclear | — | no doubt |
| CHRIST FAITH TABERNACLE INTERNATIONAL | £2.4m | — | 1 | above | — | no doubt |
| HOUSE OF PRAISE TRUST | £1.7m | — | — | below | — | no doubt |
| THE REDEEMED CHRISTIAN CHURCH OF GOD ARK OF GOD PARISH | £102k | — | 0 | above | — | no doubt |
| THE C3 CHURCH | £2.4m | — | 0 | unclear | — | no doubt |
| TABERNACLE BAPTIST CHURCH, PENARTH | £240k | — | 0 | unclear | — | no doubt |