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THE VARKEY FOUNDATION

Registered charity 1145119 · accounts filings on the Charity Commission register · also known as THE VARKEY GEMS FOUNDATION, VGF

The Varkey Foundation exists to improve education for underprivileged children throughout the world. The Foundation's charitable activities include the delivery of programmes to build the capacity of teachers and school leaders and advocacy for the status of the teaching profession.

Causes: Education/training · The Prevention Or Relief Of Poverty · Grant history (this charity is a funder) · website · Get email alerts

Latest income
£4.4m
Latest spending
£4.4m
Registered
2011
Accounts read
FY2025

Financial health, per its FY2025 accounts

The accounts state that the charity reported a group surplus of £135,413 for the year ended 31 March 2025, resulting in total unrestricted reserves of £629,208. The trustees note that the foundation is dependent on funding from Varkey Group Limited and have disclosed a material uncertainty regarding going concern due to unpredictable cash contributions and reduced free reserves, although they conclude adequate resources exist for the foreseeable future.

Automated summary of the FY2025 accounts; the evidenced findings below carry the verbatim passages.

What the accounts disclose

Largest income source: Varkey Group Limited (63% of income)
“Of total income of £4,445,465 VGL funding amounted to £2,799,989 (2024: £1,655,283)” — page 41
Per its FY2025 accounts as filed with the Charity Commission.
Reserves policy: three months’ staff costs, notice payable to contractors, direct debit payments and the liability to GSP winners (held: £629k)
“The policy of the foundation, amended in October 2024, is that unrestricted funds should be at a level suitable to cover three months’ staff costs, notice payable to contractors, direct debit payments and the liability to GSP winners. This is calculated to be circa £202k.” — page 20
Per its FY2025 accounts as filed with the Charity Commission.
Going concern: material uncertainty disclosed
“After considering these factors, the Trustees have concluded that the foundation has a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future and have therefore prepared the accounts on a going concern basis but there are material uncertainties as discussed above.” — page 19
Per its FY2025 accounts as filed with the Charity Commission.
Payments to trustees: Marc Boxser received £3,264 of fees for judging the Jacobs Foundation Best Practices Prize and was reimbursed travel expenses of £13,891.
“None of the Trustees received any payments from the Foundation in the form of employment. Marc Boxser received £3,264 of fees for judging the Jacobs Foundation Best Practices Prize and was reimbursed travel expenses of £13,891.” — page 43
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Trustee fees and expenses
“Marc Boxser received £3,264 of fees for judging the Jacobs Foundation Best Practices Prize and was reimbursed travel expenses of £13,891.”
Per its FY2025 accounts as filed with the Charity Commission.
Governance: The board does not presently review its own performance nor that of individual trustees. Consideration will be given to the introduction of a formal review process as prescribed by the code.
“The board does not presently review its own performance nor that of individual trustees. Consideration will be given to the introduction of a formal review process as prescribed by the code.” — page 5
Per its FY2025 accounts as filed with the Charity Commission.
Trading subsidiary: VF Trading Varkey Limited
“VF Trading Varkey Limited was incorporated on 29th September 2016 as the 100% owned trading subsidiary of the Varkey Foundation. It is a company registered in England and Wales with company registration number 10402535. Its primary activity is generation of sponsorship for the Global Teacher Prize and Global Student Prize event.” — page 6
Per its FY2025 accounts as filed with the Charity Commission.

Accounts audited by Crowe U.K. LLP. Discloses 4 of 6 completeness components.

Year-over-year changes

Comparing this charity’s FY2024 and FY2025 accounts as analysed by this site.

Leadership, per the charity’s website

Listed on the charity’s own website when we last crawled it; roles may have changed. Pay-band disclosures above are anonymous statutory disclosures and are not attributed to any named individual.

Electoral Commission register entries

Entries on the Electoral Commission’s public register where this charity (or its company) appears as the source — typically sponsorship of an APPG or an overseas visit provided to an MP, which charities may lawfully do. Shown with the Commission’s own reference; this is a transparency record, not an allegation.

Public profiles (found on the charity’s own website): facebook · instagram

Structured financials (annual return, FY ending 31/03/2025)

Total income
£4.4m
Total spending
£4.4m
Reserves (reported)
£629k
Employees
29

Reported reserves equal ~1.7 months of spending — in the bottom quarter for charities its size (median 4.8 months; benchmarks).

Per its annual return, largest income source: Charitable activities (70% of income) — components as reported reconcile to the return’s total income; not from the accounts narrative.

Per its annual return, cost of raising funds: 0.0% of total income — below the median for charities its size (5.2%) (benchmarks).

Trustees · trustee networks

Trustee list from the Charity Commission register (current, not historical).

Operates in: Argentina · Ghana · Throughout England And Wales · Uganda · United Arab Emirates

Income and spending

Financial year endIncomeSpending
31/03/2025£4.4m£4.4m
31/03/2024£3.2m£3.5m
31/03/2023£1.7m£2.2m
31/03/2022£3.4m£3.8m
31/03/2021£2.4m£3.5m

Common questions

Is THE VARKEY FOUNDATION financially healthy?

Per its FY2025 accounts: The accounts state that the charity reported a group surplus of £135,413 for the year ended 31 March 2025, resulting in total unrestricted reserves of £629,208. The trustees note that the foundation is dependent on funding from Varkey Group Limited and have disclosed a material uncertainty regarding going concern due to unpredictable cash contributions and reduced free reserves, although they conclude adequate resources exist for the foreseeable future. Its FY2025 accounts were audited by Crowe U.K. LLP.

Funders of similar charities

Funders whose accounts show grants to charities similar to this one (and no recorded grant to this charity) — a starting list for fundraisers.

FunderSimilar charities fundedAmount to them
THE NUFFIELD FOUNDATION1£970k
SABEEL FOUNDATION1£424k
ZOUQ FOUNDATION1£269k
ROYAL COMMISSION FOR THE EXHIBITION OF 18511£128k
BAIG WELFARE FOUNDATION1£77k
EPSOM AND EWELL ISLAMIC SOCIETY1£52k
SIR HALLEY STEWART TRUST1£40k
MISSION441£34k

Charities like this

Semantically similar by activities and financial character, from our analysed corpus. Compare with AL-KHAIR FOUNDATION.

Side by side with its peers

CharityIncomeTop pay bandStaff >£60kReserves vs policyFundraising costGoing concern
THE VARKEY FOUNDATION£4.4m——above—material uncertainty
AL-KHAIR FOUNDATION FY2025£74.8m£57,6240unclear—no doubt
THE EDUCATION AND TRAINING FOUNDATION FY2025£20.4m——above—no doubt
THE VARDY FOUNDATION FY2025£1.7m—0unclear—no doubt
THE CHARITABLE FOUNDATION FOR EDUCATION DEVELOPMENT FY2025£259k—0unclear—no doubt
KEVICC Awards Foundation Trust FY2025£140k—0unclear—no doubt

Each row is that charity’s latest analysed filing; every value is quote-backed on its own page.