FESTIVAL OF LIFE
Bi-annual all night prayer meetings.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net expenditure of £478,262 for the year, resulting in a decrease in unrestricted reserves from £1,442,030 to £963,768. The trustees consider the current reserve level appropriate against a policy target of three to six months of core operating costs. The independent auditors confirmed that the financial statements give a true and fair view and identified no material uncertainties regarding the charity's ability to continue as a going concern.
What the accounts disclose
“The Trustees consider it prudent to maintain a level of free reserves equivalent to between three to six months of core operating costs, (currently estimated at £300,000)”
“Key Management Personnel - Official Travel Expenses - Accomodation 893” — page 28
“Key Management Personnel - Official Travel Expenses - Transportation 1,053” — page 28
“Key Management Personnel - Official Travel Expenses - Accomodation 893” — page 28
“Key Management Personnel - Official Travel Expenses - Transportation 1,053” — page 28
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Dr SOLA OLUDOYI
- PASTOR ADELEKE SANUSI
- PASTOR AGU IRUKWU
- Pastor KOLA BAMIGBADE
- Pastor Morola Opeoluwa HAYDEN
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.0m | £1.5m |
| 31/12/2023 | £893k | £1.3m |
| 31/12/2022 | £999k | £960k |
| 31/12/2021 | £934k | £397k |
| 31/12/2020 | £885k | £484k |
Common questions
Is FESTIVAL OF LIFE financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net expenditure of £478,262 for the year, resulting in a decrease in unrestricted reserves from £1,442,030 to £963,768. The trustees consider the current reserve level appropriate against a policy target of three to six months of core operating costs. The independent auditors confirmed that the financial statements give a true and fair view and identified no material uncertainties regarding the charity's ability to continue as a going concern. Its FY2024 accounts were audited by Blue Spire Limited.
Who funds FESTIVAL OF LIFE?
Funders whose own accounts filings name FESTIVAL OF LIFE as a grant recipient include REDEEMED CHRISTIAN CHURCH 0F GOD ("RCCG") AMAZING GRACE CHAPEL HULL, THE REDEEMED CHRISTIAN CHURCH OF GOD - SOLUTION ASSEMBLY, NEWCASTLE, REDEEMED CHRISTIAN CHURCH OF GOD ("RCCG") THE SANCTUARY, THE REDEEMED CHRISTIAN CHURCH OF GOD - GREAT GRACE ASSEMBLY, THE REDEEMED CHRISTIAN CHURCH OF GOD - CHRIST'S LOVE ASSEMBLY OXFORD.
Known funders
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| IMAGINE THE DAY LIMITED | 1 | £850k |
| UBS UK Donor-Advised Foundation | 1 | £50k |
| THE VARDY FOUNDATION | 1 | £25k |
| THE S M B TRUST | 1 | £3k |
Charities like this
- WORD OF LIFE MINISTRIES UK LIMITED
- COMMAND PRAYER CENTRE MINISTRIES INTERNATIONAL
- FOCUS INTERNATIONAL CHRISTIAN CENTRE
- BIG CHURCH FESTIVAL LIMITED
- THE PAROCHIAL CHURCH COUNCIL OF FAWKHAM AND HARTLEY
- ICHTHUS CHRISTIAN FELLOWSHIP
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| FESTIVAL OF LIFE | £1.0m | — | 0 | unclear | — | no doubt |
| WORD OF LIFE MINISTRIES UK LIMITED | £163k | — | 0 | unclear | — | no doubt |
| COMMAND PRAYER CENTRE MINISTRIES INTERNATIONAL | £209k | — | 0 | unclear | — | noted |
| FOCUS INTERNATIONAL CHRISTIAN CENTRE | £126k | up to £15,000 | 0 | unclear | — | no doubt |
| BIG CHURCH FESTIVAL LIMITED | £4.9m | £90,001 - £100,000 | — | below | — | no doubt |
| THE PAROCHIAL CHURCH COUNCIL OF FAWKHAM AND HARTLEY | £105k | — | 0 | above | — | no doubt |