HQI FOUNDATION
HQI FOUNDATION is dedicated to supporting emerging visual, performance and musical artists who are being priced out of the opportunity to build sustainable arts careers in our capital, due to excessively high costs of living, and a failure of creative industries to provide supportive networks for its creatives, by providing supportive and enriching community and studio residencies.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net expenditure of £76,522 against income of £60,549, resulting in a net movement in funds of £15,973. Per the trustees' report, current unrestricted reserves of £16,334 are below the stated policy target of approximately £9,000, although the total net assets are negative at £13,457. The trustees maintain that the charity has adequate resources to continue in operational existence for the foreseeable future.
What the accounts disclose
“The trustees are aware that the current reserves are less than the target figure” — page 4
Trustees
- Mostafa Abdichair
- Richard Wilkins
- William Bagnall
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/10/2024 | £61k | £77k |
| 31/10/2023 | £145k | £143k |
| 31/10/2022 | £115k | £120k |
| 31/10/2021 | £45k | £76k |
Common questions
Is HQI FOUNDATION financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net expenditure of £76,522 against income of £60,549, resulting in a net movement in funds of £15,973. Per the trustees' report, current unrestricted reserves of £16,334 are below the stated policy target of approximately £9,000, although the total net assets are negative at £13,457. The trustees maintain that the charity has adequate resources to continue in operational existence for the foreseeable future. Its FY2024 accounts were independently examined.