ALMAS ART FOUNDATION
Under the guidance of its Board of Directors, the foundation will enhance the in-depth understanding, cultural value and global enjoyment of art from Africa by undertaking the following: - preserve, collect and document art works and scholarly writings; - facilitate the public exhibitions of Modern Contemporary African Art; - nurture innovation and substance in art historical research;
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 main source of income is donations and related gift aid. During the period, the Charity received donations totalling of £231,375” — page 10
“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.”
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?
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. 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 |
|---|---|---|
| GARFIELD WESTON FOUNDATION | 1 | £2.0m |
| THE FOYLE FOUNDATION | 1 | £798k |
| THE YOUTH ENDOWMENT FUND CHARITABLE TRUST | 1 | £543k |
| NESTA | 1 | £324k |
| THE MASTER CHARITABLE TRUST | 1 | £314k |
| IMPETUS - THE PRIVATE EQUITY FOUNDATION | 1 | £111k |
| THE PILGRIM TRUST | 1 | £42k |
| JOHN JAMES BRISTOL FOUNDATION | 1 | £30k |
Charities like this
- ART MONTHLY FOUNDATION
- NEW CURATORS
- NATIONAL ART COLLECTIONS FUND
- The African People's Historical Monument Foundation (Black Cultural Archives) Limited
- THE ALPINE FELLOWSHIP FOUNDATION
- SPIKE ISLAND ARTSPACE LIMITED
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| ALMAS ART FOUNDATION | £246k | Under £60,000 | 0 | above | — | no doubt |
| ART MONTHLY FOUNDATION | £202k | — | 0 | unclear | — | no doubt |
| NEW CURATORS | £711k | — | — | below | — | no doubt |
| NATIONAL ART COLLECTIONS FUND | £17.7m | £150,001 - £160,000 | — | within | — | no doubt |
| The African People's Historical Monument Foundation (Black Cultural Archives) Limited | £545k | more than £60,000 | 1 | above | 4.2% | no doubt |
| THE ALPINE FELLOWSHIP FOUNDATION | £199k | — | 0 | below | — | no doubt |