THE FOUNTAIN OF LIVING WATER
Christian worship, christian counselling, propagating the Gospel of Jesus Christ based on Biblical doctrine
Financial health, per its FY2025 accounts
The accounts state that the charity ended the year with a net asset deficit of £10,692, an improvement from the previous year's deficit of £13,790. The trustees report a net increase in funds of £3,098 for the year, primarily driven by voluntary income of £77,664 against total expenditures of £74,566. The charity's reserves policy aims to maintain unrestricted funds equivalent to approximately three months of unrestricted expenditure, though the current unrestricted fund balance is negative.
What the accounts disclose
“The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.” — page 6
Trustees
- Frank Olumide Oshodi
- ISRAEL LANUMI ADEBAJO
- Pastor Olaoluwa Stephen Otegbola
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £78k | £75k |
| 31/03/2024 | £82k | £81k |
| 31/03/2023 | £63k | £65k |
| 31/03/2022 | £67k | £72k |
| 31/03/2021 | £62k | £58k |
Common questions
Is THE FOUNTAIN OF LIVING WATER financially healthy?
Per its FY2025 accounts: The accounts state that the charity ended the year with a net asset deficit of £10,692, an improvement from the previous year's deficit of £13,790. The trustees report a net increase in funds of £3,098 for the year, primarily driven by voluntary income of £77,664 against total expenditures of £74,566. The charity's reserves policy aims to maintain unrestricted funds equivalent to approximately three months of unrestricted expenditure, though the current unrestricted fund balance is negative. Its FY2025 accounts were independently examined.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| UK government | 12/10/2020 | £10k | Coronavirus Community Support Fund |