THE VIRGIN MONEY FOUNDATION
Financial health, per its FY2023 accounts
The accounts state that unrestricted reserves stood at £1,715,600, which is below the stated policy target of covering 3-6 months of non-grant expenditure. The charity relies on significant donations from its benefactor, Virgin Money, to cover operating costs and charitable grants, with the funding settlement agreed until at least December 2026.
What the accounts disclose
“In addition, the Trustees have agreed that it is prudent to hold sufficient reserves to cover 3-6 months non-grant expenditure for contingency purposes.” — page 9
“In the period, the Foundation also made payments to Power to Change, GLT Partners Limited and Northern Soul, who are led by former Trustees of the Foundation who stepped down from the Board in previous financial years, details of which were disclosed in the 2020 and 2021 Annual Reports.”
Leadership, per the charity’s website
- Nancy Doyle-Hall — Executive Director
Structured financials (annual return, FY ending 31/03/2025)
Trustees
- Amanda Janet Jordan
- Edward Spencer Younger
- Emma Isaac
- Hannah Elizabeth Underwood
- KEITH MERRIN
- Keith Richard Burge
- Lynsey Wilson
- Mazin Alkirwi
- Tamara Dewhirst
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £3.3m | £3.2m |
| 30/09/2023 | £1.8m | £2.2m |
| 30/09/2022 | £1.9m | £1.7m |
| 30/09/2021 | £2.1m | £2.0m |
| 30/09/2020 | £1.6m | £1.3m |
Common questions
Is THE VIRGIN MONEY FOUNDATION financially healthy?
The accounts state that unrestricted reserves stood at £1,715,600, which is below the stated policy target of covering 3-6 months of non-grant expenditure. The charity relies on significant donations from its benefactor, Virgin Money, to cover operating costs and charitable grants, with the funding settlement agreed until at least December 2026. Its FY2023 accounts were audited by Ernst & Young LLP.
Who funds THE VIRGIN MONEY FOUNDATION?
Funders whose own accounts filings name THE VIRGIN MONEY FOUNDATION as a grant recipient include POWER TO CHANGE TRUST, BACK ON THE MAP LIMITED.
Known funders
| Funder | Year | Amount |
|---|---|---|
| POWER TO CHANGE TRUST | FY2022 | £129k |
| BACK ON THE MAP LIMITED | FY2025 | £33k |
| BACK ON THE MAP LIMITED | FY2024 | £12k |
| BACK ON THE MAP LIMITED | FY2022 | £8k |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE NEIGHBOURLY FOUNDATION | 1 | £1.6m |
| THE WESTMINSTER FOUNDATION | 1 | £200k |
| THE AMATEURS TRUST | 1 | £90k |
| ROYAL DEVON UNIVERSITY HEALTHCARE NHS FOUNDATION TRUST CHARITY | 1 | £5k |
| HABITAT FOR HUMANITY GREAT BRITAIN | 1 | £4k |