MIT FOUNDATION (UK) LIMITED
Financial health, per its FY2024 accounts
The accounts state that total unrestricted reserves decreased significantly from £6,060 to £14,020, while net income dropped sharply from £3,181 to £7,960 due to a massive reduction in donations. The trustees report no material uncertainties regarding going concern, citing continued financial support from the parent company, MIT International Inc.
What the accounts disclose
“The Trustees have resolved to commit as much of the charity’s resources as possible to expenditure grants, whilst retaining modest reserves to meet day to day administrative costs as they fall due.” — page 5
Structured financials (annual return, FY ending 30/06/2025)
Trustees
- Ashley Lester
- Katherine Ridgway Hammer
- RAMZI RISHANI
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 30/06/2025 | £7.3m | £7.3m |
| 30/06/2024 | £406k | £398k |
| 30/06/2023 | £5.4m | £5.4m |
| 30/06/2022 | £1.3m | £1.3m |
| 30/06/2021 | £1.7m | £1.8m |
Common questions
Is MIT FOUNDATION (UK) LIMITED financially healthy?
The accounts state that total unrestricted reserves decreased significantly from £6,060 to £14,020, while net income dropped sharply from £3,181 to £7,960 due to a massive reduction in donations. The trustees report no material uncertainties regarding going concern, citing continued financial support from the parent company, MIT International Inc. Its FY2024 accounts were independently examined.
Who funds MIT FOUNDATION (UK) LIMITED?
Funders whose own accounts filings name MIT FOUNDATION (UK) LIMITED as a grant recipient include Founders Pledge Ltd.
Known funders
| Funder | Year | Amount |
|---|---|---|
| Founders Pledge Ltd | FY2024 | £5.1m |
| Founders Pledge Ltd | FY2023 | £1.9m |