KHODORKOVSKY FOUNDATION
Financial health, per its FY2025 accounts
The accounts state that the charity holds a significant expendable endowment with a fund balance of $927,408,000 at year-end, derived from an initial $500 million endowment. The trustees report no unrestricted reserves, noting that the endowment is drawn upon to cover charitable activities exceeding investment income. The auditor confirmed the appropriateness of the going concern basis with no material uncertainties identified.
What the accounts disclose
“There are no unrestricted reserves but there is a significant expendable endowment which can be drawn upon to cover the costs of charitable activities in excess of the investment income earned.” — page 5
“A solicitor’s practice of which A Tulloch (a Trustee) is the principal provided professional services in connection with the charity’s administration. For this work TGW Law charged the charity a VAT inclusive amount of $186,625 (£138,703)” — page 19
“A solicitor’s practice of which A Tulloch (a Trustee) is the principal provided professional services in connection with the charity’s administration. For this work TGW Law charged the charity a VAT inclusive amount of $186,625 (£138,703) (2024: $174,674 (£139,521)) of which disbursements and VAT amounted to £23,703 (2024: £23,865). Some of the disbursements are travel expenses for Trustees.” — page 19
“The charity is related to New Eurasian Strategic Centre as the organisations have Trustees in common directly and as connected persons. Funding was provided to the New Eurasian Strategic Centre of $292k (2024: nil) during the year. In addition an expense/liability of $336k (2024: nil) has been included in these financial statements for future payments.” — page 22
“A solicitor’s practice of which A Tulloch (a Trustee) is the principal provided professional services in connection with the charity’s administration. For this work TGW Law charged the charity a VAT inclusive amount of $186,625 (£138,703) (2024: $174,674 (£139,521)) of which disbursements and VAT amounted to £23,703 (2024: £23,865). Some of the disbursements are travel expenses for Trustees.” — page 19
“The charity is related to New Eurasian Strategic Centre as the organisations have Trustees in common directly and as connected persons. Funding was provided to the New Eurasian Strategic Centre of $292k (2024: nil) during the year. In addition an expense/liability of $336k (2024: nil) has been included in these financial statements for future payments.” — page 22
Structured financials (annual return, FY ending 31/12/2025)
Trustees
- ALASTAIR ROBERT CLIFFORD TULLOCH
- Anton Drel
- Maria Petina Logan
- Pavel Khodorkovskiy
- RUPERT MARK CALDECOTT
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £9.7m | £11.0m |
| 31/12/2024 | £12.2m | £13.5m |
| 31/12/2023 | £13.1m | £14.3m |
| 31/12/2022 | £3.6m | £14.9m |
| 31/12/2021 | £2.9m | £5.1m |
Common questions
Is KHODORKOVSKY FOUNDATION financially healthy?
The accounts state that the charity holds a significant expendable endowment with a fund balance of $927,408,000 at year-end, derived from an initial $500 million endowment. The trustees report no unrestricted reserves, noting that the endowment is drawn upon to cover charitable activities exceeding investment income. The auditor confirmed the appropriateness of the going concern basis with no material uncertainties identified. Its FY2025 accounts were audited by Gravita Audit Oxford LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| DANDIA CHARITABLE TRUST | 1 | £2k |
| The Parish of Christ the King, Bradley Stoke | 1 | £2k |