ALMAS ART FOUNDATION
Financial health, per its FY2024 accounts
The accounts state that the charity reported a deficit of £66,591 for the year ended 31 December 2024, resulting in unrestricted reserves of £135,393. Per the trustees' report, this reserve level is comfortably above the stated policy target of approximately £70,000, representing three months of operating costs. The charity confirmed there are no material uncertainties regarding its ability to continue as a going concern.
What the accounts disclose
“No employee received remuneration of more than £60,000.” — page 19
“The Trustees believe that the charity should target to hold unrestricted financial reserves equivalent to a minimum of three months operating costs. This is in the region of £70,000.”
Year-over-year changes
- Reserves position vs the charity's own policy moved from "below" (FY2022) to "above" (FY2024).
Trustees
- Farah Jirdeh Fonkenellchair
- Olubola Adenike Ibidunni Mosuro
- Paul Bayliss
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £246k | £313k |
| 31/12/2023 | £454k | £277k |
| 31/12/2022 | £224k | £147k |
| 31/03/2022 | £50k | £111k |
Common questions
Is ALMAS ART FOUNDATION financially healthy?
The accounts state that the charity reported a deficit of £66,591 for the year ended 31 December 2024, resulting in unrestricted reserves of £135,393. Per the trustees' report, this reserve level is comfortably above the stated policy target of approximately £70,000, representing three months of operating costs. The charity confirmed there are no material uncertainties regarding its ability to continue as a going concern. Its FY2024 accounts were independently examined.
What does the highest-paid employee of ALMAS ART FOUNDATION earn?
Per its FY2024 accounts, the highest-paid employee was in the Under £60,000 band.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE FOYLE FOUNDATION | 1 | £798k |
| NESTA | 1 | £324k |
| THE MASTER CHARITABLE TRUST | 1 | £314k |
| MANCHESTER CITY GALLERIES TRUST | 1 | £36k |
| THE SIR JOHN RITBLAT FAMILY FOUNDATION | 1 | £5k |
| THE MCCORQUODALE CHARITABLE TRUST | 1 | £4k |
| THE ARDEOLA CHARITABLE TRUST | 1 | £2k |