UNIVERSITY OF ILLINOIS FOUNDATION UK LIMITED
Financial health, per its FY2023 accounts
The accounts state that the charity reported a surplus of £5,095 for the year ended 30 June 2023, carrying forward unrestricted funds of £15,924. The trustees' report notes that the parent undertaking has committed to providing financial support to meet obligations for at least 12 months. The charity maintains a reserves policy of three to six months' expenditure, with current free reserves of £15,924.
What the accounts disclose
“The Foundation has a policy that its unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months' expenditure.” — page 3
“During the year the Foundation received an unrestricted donation in kind of £34,874 (2022: unrestricted donation in kind of £32,588) from their parent to cover professional fees of £32,030 (2022: £32,588) and event costs of £2,844 (2022: £nil). During the year the Foundation paid a cash grant of £5,850 (2022: £2,990). The Foundation received a donation of £600 (2022: £5,026) during the year which was paid directly to their parent. As at the reporting date £22,769 (2022: £15,240) was owed from the parent.” — page 16
“During the year four (2022: one) trustees made donations to the Foundation of £9,750 (2022: £5,626).” — page 16
“During the year the Foundation received an unrestricted donation in kind of £34,874 (2022: unrestricted donation in kind of £32,588) from their parent to cover professional fees of £32,030 (2022: £32,588) and event costs of £2,844 (2022: £nil). During the year the Foundation paid a cash grant of £5,850 (2022: £2,990). The Foundation received a donation of £600 (2022: £5,026) during the year which was paid directly to their parent. As at the reporting date £22,769 (2022: £15,240) was owed from the parent.” — page 16
“During the year four (2022: one) trustees made donations to the Foundation of £9,750 (2022: £5,626).” — page 16
Trustees
- CHRISTINE C DEVOCELLE
- CHRISTOPHER MATHEWS
- DALTON GERARD DWYER
- David Meinhart
- Geert GLAS
- JAMES H MOORE
- KEITH VIVERITO
- MARKUS KAISER BAUMAN
- Nell Axelrod
- Pavlina Akritas
- Usama Hajj
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 30/06/2025 | £118k | £73k |
| 30/06/2024 | £79k | £76k |
| 30/06/2023 | £47k | £42k |
| 30/06/2022 | £40k | £41k |
| 30/06/2021 | £23k | £25k |
Common questions
Is UNIVERSITY OF ILLINOIS FOUNDATION UK LIMITED financially healthy?
The accounts state that the charity reported a surplus of £5,095 for the year ended 30 June 2023, carrying forward unrestricted funds of £15,924. The trustees' report notes that the parent undertaking has committed to providing financial support to meet obligations for at least 12 months. The charity maintains a reserves policy of three to six months' expenditure, with current free reserves of £15,924. Its FY2023 accounts were audited by RSM UK Audit LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| NNS FOUNDATION | 1 | £21.2m |
| Founders Pledge Ltd | 1 | £3.4m |
| THE ADDERSTONE FOUNDATION | 1 | £1.2m |
| 4 CHARITY FOUNDATION | 1 | £500k |
| THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST | 1 | £40k |
| MAYFAIR CHARITIES LIMITED | 1 | £21k |