THE FREELANDS FOUNDATION LIMITED
The aim of the Foundation is to broaden audiences for the visual arts and to enable everyone irrespective of circumstance to engage actively with the creation and enjoyment of art. The Foundation achieves this aim by supporting and empowering artists and cultural institutions though grant making, partnership and collaboration, and hosting and sponsoring events and exhibitions.
Financial health, per its FY2024 accounts
The accounts state that the charity holds unrestricted free reserves of £54,116,042, which significantly exceeds its stated policy target of three months' running costs and committed grants, totaling £1,500,000. The auditor confirmed that the use of the going concern basis is appropriate and identified no material uncertainties regarding the charity's ability to continue operating for at least twelve months.
What the accounts disclose
“No other employee earned more than £60,000 during the year (2023 - £nil).” — page 50
“The trustees are committed to ensuring minimum reserves needed to cover 3 months’ running costs plus committed grants for the same period, totalling £1,500,000.”
“Services, including senior-level staff support in finance, accounting, investments, strategy and communications, were donated to the Foundation by Freelands Group Ltd, which is ultimately owned by EM 2019 Trust. Elisabeth Murdoch is a beneficiary of EM 2019 Trust.” — page 31
“One of the Trustees of the Foundation is a partner at the law firm Farrer & Co. The Foundation incurred expenditure of £71,365 (2023 - £55,592) with Farrer & Co during the year.” — page 50
“Services, including senior-level staff support in finance, accounting, investments, strategy and communications, were donated to the Foundation by Freelands Group Ltd, which is ultimately owned by EM 2019 Trust. Elisabeth Murdoch is a beneficiary of EM 2019 Trust.” — page 31
“One of the Trustees of the Foundation is a partner at the law firm Farrer & Co. The Foundation incurred expenditure of £71,365 (2023 - £55,592) with Farrer & Co during the year.” — page 50
“Services, including senior-level staff support in finance, accounting, investments, strategy and communications, were donated to the Foundation by Freelands Group Ltd, which is ultimately owned by EM 2019 Trust. Elisabeth Murdoch is a beneficiary of EM 2019 Trust.” — page 31
“One of the Trustees of the Foundation is a partner at the law firm Farrer & Co. The Foundation incurred expenditure of £71,365 (2023 - £55,592) with Farrer & Co during the year.” — page 50
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/12/2020)
Trustees
- Elisabeth Murdochchair
- Keith Thomas Tyson
- MARK DEVEREUX
- Sarah Sue Von Schmidt Auf Altenstadt
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £298k | £4.5m |
| 31/12/2023 | £264k | £5.5m |
| 31/12/2022 | £409k | £5.2m |
| 31/12/2021 | £441k | £5.1m |
| 31/12/2020 | £870k | £6.6m |
Common questions
Is THE FREELANDS FOUNDATION LIMITED financially healthy?
Per its FY2024 accounts: The accounts state that the charity holds unrestricted free reserves of £54,116,042, which significantly exceeds its stated policy target of three months' running costs and committed grants, totaling £1,500,000. The auditor confirmed that the use of the going concern basis is appropriate and identified no material uncertainties regarding the charity's ability to continue operating for at least twelve months. Its FY2024 accounts were audited by Sayer Vincent LLP.
Who funds THE FREELANDS FOUNDATION LIMITED?
Funders whose own accounts filings name THE FREELANDS FOUNDATION LIMITED as a grant recipient include MANCHESTER CITY GALLERIES TRUST.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| MANCHESTER CITY GALLERIES TRUST | FY2024 | £25k | Collective of artist teachers for professional development |
| MANCHESTER CITY GALLERIES TRUST | FY2024 | £11k | Collective of artist teachers (expenditure portion) |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| JAPAN HOUSE LONDON TRUST | 1 | £35k |
| THE RORY AND ELIZABETH BROOKS FOUNDATION | 1 | £9k |
| THE RISMAN FOUNDATION | 1 | £8k |
| THE HULL AND EAST RIDING CHARITABLE TRUST | 1 | £3k |
Charities like this
- THE FOUNDATION FOR EDUCATION, ARTS AND CULTURE
- THE FOUNDATION FOUNDATION
- FREEDOM FESTIVAL ARTS TRUST
- NORFOLK MUSEUMS DEVELOPMENT FOUNDATION
- Autotelic Foundation
- DELFINA FOUNDATION
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| THE FREELANDS FOUNDATION LIMITED | £298k | — | 4 | unclear | — | no doubt |
| THE FOUNDATION FOR EDUCATION, ARTS AND CULTURE | £133k | — | 0 | above | — | no doubt |
| THE FOUNDATION FOUNDATION | £173k | — | 0 | above | — | no doubt |
| FREEDOM FESTIVAL ARTS TRUST | £747k | — | 0 | below | — | no doubt |
| NORFOLK MUSEUMS DEVELOPMENT FOUNDATION | £166k | — | 0 | unclear | — | no doubt |
| Autotelic Foundation | £502k | — | 0 | unclear | — | no doubt |