Pharo Foundation
Financial health, per its FY2024 accounts
The accounts state that the Group recorded total income of US$ 52.1 million in 2024, with unrestricted funds totaling US$ 65.2 million as of year-end. The Trustees have designated US$ 48.4 million for future programme activities and maintain an operational reserve of US$ 15 million to cover 12 months of operating cash needs. Per the trustees' report, the Foundation remains in a strong financial position with sufficient reserves to meet ongoing commitments.
What the accounts disclose
“The target level of reserves is set at 12 months of operating expenses and covers staff salaries, administration costs, and ongoing project expenses.”
“Pharo Foundation is funded in part by a share of profits generated by Pharo Management (UK) LLP, from which it received US$ 7.1 million in 2024 (2023: US$ 22 million). Mr Guillaume Fonkenell, a Trustee of the Foundation, is a Managing Member of Pharo Management (UK) LLP. In addition to this, Mr Fonkenell made a direct personal donation of US$ 30 million to the Foundation during the year.” — page 68
“A trustee, Ms. Farah Jirdeh Fonkenell, entered into a land lease agreement with Pharo Foundation Somaliland, granting a 99-year lease term starting 1 July 2023, at an annual rent of US$ 1.” — page 68
“Pharo Foundation is funded in part by a share of profits generated by Pharo Management (UK) LLP, from which it received US$ 7.1 million in 2024 (2023: US$ 22 million). Mr Guillaume Fonkenell, a Trustee of the Foundation, is a Managing Member of Pharo Management (UK) LLP. In addition to this, Mr Fonkenell made a direct personal donation of US$ 30 million to the Foundation during the year.” — page 68
“A trustee, Ms. Farah Jirdeh Fonkenell, entered into a land lease agreement with Pharo Foundation Somaliland, granting a 99-year lease term starting 1 July 2023, at an annual rent of US$ 1.” — page 68
Leadership, per the charity’s website
- Tom Mason — Chief Executive Officer
- Kudzai Munyavi — Chief Financial Officer
- Tim Kasperidus — Chief Operating Officer
- Dr Edward Rukwaro — Kenya Country Director and Global Director of Health
- Faith Mbutu — Global Director of Human Resources
- Jannek Hagen — Rwanda Country Director
- Mohamed Muse Elmi — Somaliland Country Director
- Ken Lee — Chief Research and Evaluation Officer
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Farah Fonkenell
- Folorunso Olugbemiga ALLU
- GUILLAUME HENRI ANDRE FONKENELL
- MATTHIEU BAUMGARTNER
- Papa Mbor Nicolas Sagna
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £40.8m | £15.8m |
| 31/12/2023 | £20.7m | £14.7m |
| 31/12/2022 | £18.0m | £12.3m |
| 31/12/2021 | £15.0m | £8.2m |
| 31/12/2020 | £7.2m | £5.4m |
Common questions
Is Pharo Foundation financially healthy?
The accounts state that the Group recorded total income of US$ 52.1 million in 2024, with unrestricted funds totaling US$ 65.2 million as of year-end. The Trustees have designated US$ 48.4 million for future programme activities and maintain an operational reserve of US$ 15 million to cover 12 months of operating cash needs. Per the trustees' report, the Foundation remains in a strong financial position with sufficient reserves to meet ongoing commitments. Its FY2024 accounts were audited by Buzzacott Audit LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE THOMPSON FAMILY CHARITABLE TRUST | 1 | £700k |
| PERSONAL ASSURANCE CHARITABLE TRUST | 1 | £160k |
| THE NEIGHBOURLY FOUNDATION | 1 | £100k |
| THE DAVID AND CLAUDIA HARDING FOUNDATION | 1 | £100k |
| Moto Foundation | 1 | £9k |
| THE PUBLIC INTEREST FOUNDATION | 1 | £5k |
| THE CARMELA & RONNIE PIGNATELLI FOUNDATION | 1 | £3k |
| THE LOWER GREEN FOUNDATION | 1 | £2k |