EDAID FOUNDATION
THE CHARITY'S OBJECTS ARE SPECIFICALLY RESTRICTED TO THE FOLLOWING: FOR THE PUBLIC BENEFIT, THE RELIEF OF FINANCIAL HARDSHIP OF STUDENTS/GRADUATES ATTENDING, OR WANTING TO ATTEND OR HAVING ATTENDED HIGHER EDUCATION BY THE PROVISION OF FUNDING, DEBT COUNSELLING AND SUPPORT IN OBTAINING FUNDING, TO ACCESS THE EDUCATION.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net deficit of £19,949 for the year ended 31 December 2024, resulting in total unrestricted funds of £284,769. The trustees confirm that current free reserves are sufficient to cover operating costs and have prepared the statements on a going concern basis. No staff costs were incurred, and the charity relies on grants and donations for income.
What the accounts disclose
“The Trustee has established a policy whereby the unrestricted funds, not committed or invested in tangible fixed assets (‘the free reserves’), held by the Charitable Company should cover resources expended over the next financial year.” — page 5
“The Charitable Company has an ongoing relationship with EdAid Limited, a company under the control of T J Woolf. EdAid Foundation is the lender in loan agreements between EdAid Ltd and a customer” — page 6
Structured financials (annual return, FY ending 31/12/2020)
Trustees
- Thomas Woolfchair
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £169k | £189k |
| 31/12/2023 | £220k | £162k |
| 31/12/2022 | £196k | £273k |
| 31/12/2021 | £158k | £371k |
| 31/12/2020 | £784k | £289k |
Common questions
Is EDAID FOUNDATION financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net deficit of £19,949 for the year ended 31 December 2024, resulting in total unrestricted funds of £284,769. The trustees confirm that current free reserves are sufficient to cover operating costs and have prepared the statements on a going concern basis. No staff costs were incurred, and the charity relies on grants and donations for income. Its FY2024 accounts were independently examined.