THE OPENWORK FOUNDATION
We provide support to vulnerable people to improve their quality of life through our grant programmes. Our national and local programmes are selected from a nomination process and not open to application.
Financial health, per its FY2023 accounts
The accounts state that unrestricted reserves decreased to £1,081,859 from £1,233,990 in the prior year, resulting in a net movement in funds of (£152,131). The Trustees maintain that these reserves are sufficient to cover core funding commitments and adhere to a policy of maintaining approximately twelve months of grant budget and fundraising expenses. The charity reports adequate resources to continue operating for the foreseeable future with no material uncertainties identified.
What the accounts disclose
“The Trustees require that a general reserve equating to approximately twelve months grant budget (to support new applications and partner grants) and fundraising expenses should be maintained to achieve this.”
“Employee, other administration support and audit costs are donated services received from Openwork Services Limited ( OSL ). They are accounted for as Donated services within Note 3 and as Support costs within Note 6. The valuation basis is the actual costs that are incurred by OSL.” — page 17
“Company matching represents income from Openwork Holdings Limited which matches 50% of all income including regular donations, fundraising activities (less associated costs) and donations.”
“Employee, other administration support and audit costs are donated services received from Openwork Services Limited ( OSL ). They are accounted for as Donated services within Note 3 and as Support costs within Note 6. The valuation basis is the actual costs that are incurred by OSL.” — page 17
“Company matching represents income from Openwork Holdings Limited which matches 50% of all income including regular donations, fundraising activities (less associated costs) and donations.”
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Paul Mitchenerchair
- Adam Roberts
- CLIFFORD GRAY
- Erica Mandryko
- Gautam Mehra
- Ian Lovett
- Jennifer Close
- John Roberts
- Michael Simon Jukes
- Philip Hodkinson
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.1m | £1.1m |
| 31/12/2023 | £972k | £1.1m |
| 31/12/2022 | £977k | £953k |
| 31/12/2021 | £983k | £784k |
| 31/12/2020 | £1.6m | £608k |
Common questions
Is THE OPENWORK FOUNDATION financially healthy?
Per its FY2023 accounts: The accounts state that unrestricted reserves decreased to £1,081,859 from £1,233,990 in the prior year, resulting in a net movement in funds of (£152,131). The Trustees maintain that these reserves are sufficient to cover core funding commitments and adhere to a policy of maintaining approximately twelve months of grant budget and fundraising expenses. The charity reports adequate resources to continue operating for the foreseeable future with no material uncertainties identified. Its FY2023 accounts were audited by Critchleys Audit LLP.
Who funds THE OPENWORK FOUNDATION?
Funders whose own accounts filings name THE OPENWORK FOUNDATION as a grant recipient include ZURICH COMMUNITY TRUST (UK) LIMITED.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| ZURICH COMMUNITY TRUST (UK) LIMITED | FY2022 | £16k | Historical deed of covenants |
| ZURICH COMMUNITY TRUST (UK) LIMITED | FY2021 | £16k | Grant payable to Openwork Foundation |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| PRISM THE GIFT FUND | 1 | £1.9m |
| THE GENERATIONAL FOUNDATION | 1 | £500k |
| UNSEEN (UK) | 1 | £173k |
| JOHN LYON'S CHARITY | 1 | £60k |
| REDR UK | 1 | £51k |
| SUICIDE & CO | 1 | £22k |
| THE MARCHUS TRUST | 1 | £5k |
| EAST END COMMUNITY FOUNDATION | 1 | £5k |
Charities like this
- GIVINGWORKS
- Open City
- DISRUPT FOUNDATION
- THE CLOTHWORKERS' FOUNDATION
- THE ROBERT MCALPINE FOUNDATION
- THE GENERATIONAL FOUNDATION
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| THE OPENWORK FOUNDATION | £1.1m | — | 0 | unclear | — | no doubt |
| GIVINGWORKS | £1.4m | — | 0 | unclear | — | no doubt |
| Open City | £1.1m | — | 0 | below | — | no doubt |
| DISRUPT FOUNDATION | £2.9m | £100,000 - £110,000 | 1 | unclear | — | no doubt |
| THE CLOTHWORKERS' FOUNDATION | £10.7m | — | 0 | above | — | no doubt |
| THE ROBERT MCALPINE FOUNDATION | £1.1m | — | 0 | above | — | no doubt |