THE POTANIN FOUNDATION

Registered charity 1112813 · accounts filings on the Charity Commission register

The objectives of the charity are to develop education and culture in Russia by supporting talent, initiative and innovation among students and arts professionals. The charity carries out its objectives by awarding grants to support the programmes of the Vladimir Potanin Foundation (VPF): its sister charity in Russia

Causes: General Charitable Purposes · Education/training · Environment/conservation/heritage · Grant history (this charity is a funder) · Get email alerts

Latest income

£2.2m

Latest spending

£619k

Registered

2006

Accounts read

FY2025

Financial health, per its FY2025 accounts

The accounts state that unrestricted reserves stood at $154m, an increase from $138m in the prior year, driven by investment gains and foreign exchange movements. The Interim Manager confirms the charity has adequate resources to continue in operation for at least twelve months, with no borrowings and substantial liquid assets. However, grant-making activities remain suspended pending the outcome of regulatory proceedings and potential further appeals by the Founder.

Automated summary of the FY2025 accounts; the evidenced findings below carry the verbatim passages.

What the accounts disclose

Reserves policy: an adequate level of resources to support its future activities, such as grantmaking, capital investment and the financing of its operations (held: £193.3m)

“The Charity's policy is to maintain an adequate level of resources to support its future activities, such as grantmaking, capital investment and the financing of its operations.” — page 6

Per its FY2025 accounts as filed with the Charity Commission.

Accounts audited by SCB (Accountants) Ltd. Discloses 4 of 6 completeness components.

Charity Commission inquiry

The Charity Commission opened a statutory inquiry after the charity's founder was sanctioned under UK regulations, leading to the appointment of an interim manager to exclude the trustees. The inquiry remains ongoing, and no final regulatory outcome has been published.

The report states the inquiry was opened after the founder was sanctioned.

“The Commission opened a statutory inquiry into the Potanin Foundation on 29 June 2022, after the charity’s founder and member, Vladimir Potanin, was sanctioned under the UK’s Russia (Sanctions) (EU Exit) Regulations 2019.”

The report states an interim manager was appointed to exclude trustees.

“The Charity Commission has appointed an interim manager to the Potanin Foundation (1112813) to the exclusion of its trustees.”

The report states the interim manager's role includes managing assets and assessing viability.

“He has taken over the management and administration of the charity and will fulfil a number of tasks, including managing the charity’s assets and assessing the future viability of the charity.”

Per the Commission’s published report. Summary is automated; the official report is authoritative.

Regulator actions

Fundraising Regulator: Commission appoints interim manager to The Potanin Foundation (15/08/2022)

press release: The Charity Commission has appointed an interim manager to the Potanin Foundation (1112813) to the exclusion of its trustees.

Official record

Fundraising Regulator: Commission opens inquiry into The Potanin Foundation as founder sanctioned (29/06/2022)

inquiry report: The Charity Commission has opened a statutory inquiry into The Potanin Foundation, after the charity’s founder Mr Vladimir Potanin was sanctioned by the UK government.

Official record

Corporate structure

Registered company of the charity Companies House 05514908

Company officers (Companies House)

Current officers of the charity’s own company per the Companies House register, cross-checked against the Charity Commission trustee list by name. A director not on the trustee list is usually a timing or naming difference between the two registers — check both records before drawing conclusions.

FULLERLOVE, Michael Reame — director, appointed 13/10/2021on trustee list
GREENE, David Michael — director, appointed 13/10/2021on trustee list
PISIARAS, Demetris — director, appointed 13/10/2021on trustee list
LOW, John Menzies, Sir — director, appointed 21/10/2013on trustee list
HOLLANDER, Guy — receiver and manager, appointed 26/05/2023

Official officers record.

Structured financials (annual return, FY ending 31/12/2025)

Total income

£2.2m

Total spending

£619k

Cost of raising funds

£356k

Reserves (reported)

£117.1m

Employees

Per its annual return, largest income source: Investments (100% of income) — components as reported reconcile to the return’s total income; not from the accounts narrative.

Per its annual return, cost of raising funds: 15.9% of total income — above the median for charities its size (5.2%) (benchmarks).

Trustees · trustee networks

David Michael Greene
Demetris Pisiaras
MICHAEL REAME FULLERLOVE
Sir John Menzies Low · trustee of 2 other charities

Trustee list from the Charity Commission register (current, not historical).

Operates in: Russia

Income and spending

Financial year end	Income	Spending
31/12/2025	£2.2m	£619k
31/12/2024	£2.5m	£441k
31/12/2023	£1.9m	£400k
31/12/2022	£729k	£509k
31/12/2021	£766k	£798k

Common questions

Is THE POTANIN FOUNDATION financially healthy?

Per its FY2025 accounts: The accounts state that unrestricted reserves stood at $154m, an increase from $138m in the prior year, driven by investment gains and foreign exchange movements. The Interim Manager confirms the charity has adequate resources to continue in operation for at least twelve months, with no borrowings and substantial liquid assets. However, grant-making activities remain suspended pending the outcome of regulatory proceedings and potential further appeals by the Founder. Its FY2025 accounts were audited by SCB (Accountants) Ltd.

Funders of similar charities

Funders whose accounts show grants to charities similar to this one (and no recorded grant to this charity) — a starting list for fundraisers.

Funder	Similar charities funded	Amount to them
THE PA FOUNDATION	1	£57k
THE PERMIRA FOUNDATION	1	£53k

Charities like this

Semantically similar by activities and financial character, from our analysed corpus. Compare with THE FOUNDATION FOR EDUCATION, ARTS AND CULTURE.

THE FOUNDATION FOR EDUCATION, ARTS AND CULTURE income £133k
KHODORKOVSKY FOUNDATION income £9.7m
THE POINT FOUNDATION income £102k
THE RUMI FOUNDATION income £8.0m
THE POLONSKY FOUNDATION income £380k
THE ALPINE FELLOWSHIP FOUNDATION income £199k

Side by side with its peers

Charity	Income	Top pay band	Reserves vs policy	Fundraising cost	Going concern
THE POTANIN FOUNDATION	£2.2m	—	unclear	—	no doubt
THE FOUNDATION FOR EDUCATION, ARTS AND CULTURE FY2025	£133k	—	above	—	no doubt
KHODORKOVSKY FOUNDATION FY2025	£9.7m	—	below	—	no doubt
THE POINT FOUNDATION FY2025	£102k	—	unclear	—	no doubt
THE RUMI FOUNDATION FY2025	£8.0m	—	above	—	no doubt
THE POLONSKY FOUNDATION FY2025	£380k	—	unclear	—	no doubt

Each row is that charity’s latest analysed filing; every value is quote-backed on its own page.