Pharo Foundation
Our Vision is an inclusive and economically vibrant Africa. Our Mission is to achieve our vision by investing in Africa's human and physical capital, with a strong focus on job creation. Our Values are passion and respect, creativity and entrepreneurship, trust and accountability.
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
In the news
- FEATURED: Pharo Foundation empowers Rwanda schools to teach through play| The New Times
- FEATURED: Pharo Foundation empowers Rwanda schools to teach through play| The New Times
- Pharo Foundation expands its education offering to Kenya after partnering with Tender Care Junior Academy
- FEATURED: Pharo Foundation unveils first school in Rwanda| The New Times
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?
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. Its FY2024 accounts were audited by Buzzacott Audit LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| The Squire Patton Boggs Charitable Trust | 2 | £700 |
| THE THOMPSON FAMILY CHARITABLE TRUST | 1 | £1.2m |
| THE ROSELINE FOUNDATION | 1 | £1.0m |
| THE VARDY FOUNDATION | 1 | £615k |
| THE RIVER FARM FOUNDATION | 1 | £400k |
| CRODA FOUNDATION | 1 | £399k |
| THE HARRISON FOUNDATION | 1 | £228k |
| PERSONAL ASSURANCE CHARITABLE TRUST | 1 | £227k |
Charities like this
- THE PHAROS FOUNDATION
- THE PA FOUNDATION
- FOUNDATION OF LIGHT
- AFRICAN FOUNDATION FOR DEVELOPMENT AFFORD
- gold-youth Africa Foundation UK
- MEMUSI FOUNDATION
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| Pharo Foundation | £40.8m | — | — | unclear | — | no doubt |
| THE PHAROS FOUNDATION | £1.4m | unclear | 2 | below | — | no doubt |
| THE PA FOUNDATION | £2.0m | — | 0 | unclear | — | no doubt |
| FOUNDATION OF LIGHT | £5.6m | — | — | above | — | no doubt |
| AFRICAN FOUNDATION FOR DEVELOPMENT AFFORD | £386k | — | 0 | below | — | no doubt |
| gold-youth Africa Foundation UK | £304k | — | 0 | unclear | — | no doubt |