EduSpots
Financial health, per its FY2023 accounts
The accounts state that total receipts increased significantly to £171,415 from £76,673 in the prior year, resulting in a net receipt of £29,338. However, unrestricted funds decreased to £19,420, which is below the trustees' stated policy target of holding three months of direct charitable expenditure. The trustees aim to improve the reserves level by the end of 2024.
What the accounts disclose
“The trustees aim to hold 3 months of direct charitable expenditure as reserves”
“During the year, a board member who was a trustee until 13 December 2023, made a restricted donation of £5000 (2022: trustees made unrestricted donations of £16,000) to the charity.” — page 45
“Due to severe banking challenges in UK, funds totaling £95,794 have been transferred to Eduspots Ghana using personal bank accounts of the Chief Executive Officer and one trustee.” — page 45
“During the year, a board member who was a trustee until 13 December 2023, made a restricted donation of £5000 (2022: trustees made unrestricted donations of £16,000) to the charity.” — page 45
“Due to severe banking challenges in UK, funds totaling £95,794 have been transferred to Eduspots Ghana using personal bank accounts of the Chief Executive Officer and one trustee.” — page 45
Trustees
- Gloria Mary Agyemangchair
- Adam Khanbhai
- Gayle Clifford
- Katie Allen-East
- Mark Bernard Goodrich
- Sally Yeboah
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £269k | £244k |
| 31/12/2023 | £171k | £142k |
| 31/12/2022 | £77k | £70k |
| 31/12/2021 | £91k | £75k |
| 31/12/2020 | £76k | £68k |
Common questions
Is EduSpots financially healthy?
The accounts state that total receipts increased significantly to £171,415 from £76,673 in the prior year, resulting in a net receipt of £29,338. However, unrestricted funds decreased to £19,420, which is below the trustees' stated policy target of holding three months of direct charitable expenditure. The trustees aim to improve the reserves level by the end of 2024. Its FY2023 accounts were independently examined.
Who funds EduSpots?
Funders whose own accounts filings name EduSpots as a grant recipient include GOWER STREET, EDUCATIONAL OPPORTUNITY FOUNDATION, THE EVAN CORNISH FOUNDATION, ALLAN AND NESTA FERGUSON CHARITABLE SETTLEMENT, THE COLES-MEDLOCK FOUNDATION.
Known funders
| Funder | Year | Amount |
|---|---|---|
| GOWER STREET | FY2024 | £34k |
| EDUCATIONAL OPPORTUNITY FOUNDATION | FY2023 | £30k |
| GOWER STREET | FY2022 | £25k |
| EDUCATIONAL OPPORTUNITY FOUNDATION | FY2024 | £18k |
| THE EVAN CORNISH FOUNDATION | FY2025 | £10k |
| ALLAN AND NESTA FERGUSON CHARITABLE SETTLEMENT | FY2024 | £10k |
| THE COLES-MEDLOCK FOUNDATION | FY2025 | £10k |
| W F SOUTHALL TRUST | FY2022 | £3k |
| THE CARMELA & RONNIE PIGNATELLI FOUNDATION | FY2024 | £3k |
| THE EVAN CORNISH FOUNDATION | FY2023 | £3k |
| WORLD DAY OF PRAYER NATIONAL COMMITTEE FOR ENGLAND, WALES AND NORTHERN IRELAND | FY2025 | £2k |
| GILCHRIST EDUCATIONAL TRUST | FY2023 | £1k |
| THE MIRIANOG TRUST | FY2025 | £1k |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE YOUTH ENDOWMENT FUND CHARITABLE TRUST | 1 | £2.2m |
| IMPETUS - THE PRIVATE EQUITY FOUNDATION | 1 | £674k |
| KUSUMA TRUST UK | 1 | £77k |
| CORAM LIFE EDUCATION | 1 | £22k |