THE PENNIES FOUNDATION
Financial health, per its FY2024 accounts
The accounts state that unrestricted reserves stood at £1,496,202, which is within the trustees' stated target of maintaining at least nine months' operational expenditure (£1.2m). The charity reported a net income surplus of £98,246 for the year, with total incoming resources increasing by 22% to £11,450,284, driven largely by a first-year rise in micro-donations exceeding £10 million.
What the accounts disclose
Leadership, per the charity’s website
- Alison Hutchinson CBE — Chief Executive Officer
- Peter Nugent — Finance Director
- Marian Duxbury — Chief Finance Officer
- Jim Dolan — Chief Transformation and Technology Officer
- Ann Tomsett — Commercial Director (Volunteer)
- Holly Clawson — Head of Product and Technology
- Jo Wadham — Head of Legal & Governance
- Rozi Collier — Head of Marketing and Charities
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- ROBERT LEITAOchair
- Angela Luger
- Graham Edwards
- JULIAN TAYLOR
- Leigh Thomas
- PENNY LOVELL
- Paul Michael Bain
- Peter George Edwin Ayliffe
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £11.5m | £11.4m |
| 31/12/2023 | £9.4m | £9.4m |
| 31/12/2022 | £7.4m | £7.6m |
| 31/12/2021 | £6.5m | £6.5m |
| 31/12/2020 | £5.7m | £6.2m |
Common questions
Is THE PENNIES FOUNDATION financially healthy?
The accounts state that unrestricted reserves stood at £1,496,202, which is within the trustees' stated target of maintaining at least nine months' operational expenditure (£1.2m). The charity reported a net income surplus of £98,246 for the year, with total incoming resources increasing by 22% to £11,450,284, driven largely by a first-year rise in micro-donations exceeding £10 million. Its FY2024 accounts were audited by RSM UK Audit LLP.
Who funds THE PENNIES FOUNDATION?
Funders whose own accounts filings name THE PENNIES FOUNDATION as a grant recipient include THE PEARS FAMILY CHARITABLE FOUNDATION.
Known funders
| Funder | Year | Amount |
|---|---|---|
| THE PEARS FAMILY CHARITABLE FOUNDATION | FY2025 | £300k |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| EFFECTIVE VENTURES FOUNDATION | 1 | £1.2m |
| JOFFE CHARITABLE TRUST CIO | 1 | £95k |
| MUSLIM COMMUNITY & EDUCATION CENTRE (MCEC) | 1 | £5k |
| MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED | 1 | £5k |
| PONOSI FOUNDATION | 1 | £5k |
| THE LAUFFER FAMILY CHARITABLE TRUST | 1 | £1k |