THE V&A FOUNDATION
Financial health, per its FY2023 accounts
The accounts state that unrestricted reserves were £6.7m, which is below the stated policy target of £10,000, with the excess intended for distribution as grant requests are received. The charity received a significant £20m donation in April 2022, which the trustees say strengthens the financial position and provides confidence to continue operations despite investment losses. The auditor confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified.
What the accounts disclose
Structured financials (annual return, FY ending 31/03/2023)
Register events
- Received assets from another charity (14/02/2025)
Trustees
- Andrew Hochhauser KC
- Baroness Nemat Shafik
- Bruce Hardy McLain
- Caroline Louise Silver
- Dr Catherine Colburn Hogel
- Heather Jane Acton
- Helle Elisabeth Skov McLain
- Lady Deborah Si Yin Buffini
- Peter John Marsden Williams
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £251k | £1.3m |
| 31/03/2024 | £93k | £827k |
| 31/03/2023 | £20.2m | £1.0m |
| 31/03/2022 | £1.1m | £903k |
| 31/03/2021 | £137k | £459k |
Common questions
Is THE V&A FOUNDATION financially healthy?
The accounts state that unrestricted reserves were £6.7m, which is below the stated policy target of £10,000, with the excess intended for distribution as grant requests are received. The charity received a significant £20m donation in April 2022, which the trustees say strengthens the financial position and provides confidence to continue operations despite investment losses. The auditor confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified. Its FY2023 accounts were audited by Moore Kingston Smith LLP.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 13/06/2012 | £5.0m | "Catalyst: Endowment - Victoria and Albert Museum" |