THE GSR FOUNDATION
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net movement in funds of $(1,011,110) for the year ended 31 December 2024, resulting in unrestricted reserves of $93,017. The trustees acknowledge that this level of unrestricted reserves is currently below the target set out in their reserves policy, which was established to maintain liquidity given the single source of funding. Per the trustees' report, restoring unrestricted reserves to policy-compliant levels is a key priority for the forthcoming financial year.
What the accounts disclose
“The trustees acknowledge that the charity’s level of unrestricted reserves is currently below the target set out in our reserves policy.” — page 7
“GSR Resources Limited is a related party due to the existence of a shared Trustee. It provided GSR Foundation with an Executive Director and invoiced the Foundation $180,612 (2023: $177,154) in the form of a management recharge. It also invoiced an additional $51,600 (2023: $51,600) as part of a shared service agreement.” — page 23
“GSR International Limited is a related party due to the existence of a shared Trustee. It donated $2,551,660 (2023: $2,551,660) to the Foundation within the year.” — page 23
“GSR Resources Limited is a related party due to the existence of a shared Trustee. It provided GSR Foundation with an Executive Director and invoiced the Foundation $180,612 (2023: $177,154) in the form of a management recharge. It also invoiced an additional $51,600 (2023: $51,600) as part of a shared service agreement.” — page 23
“GSR International Limited is a related party due to the existence of a shared Trustee. It donated $2,551,660 (2023: $2,551,660) to the Foundation within the year.” — page 23
“GSR Resources Limited is a related party due to the existence of a shared Trustee. It provided GSR Foundation with an Executive Director and invoiced the Foundation $180,612 (2023: $177,154) in the form of a management recharge. It also invoiced an additional $51,600 (2023: $51,600) as part of a shared service agreement.” — page 23
“GSR International Limited is a related party due to the existence of a shared Trustee. It donated $2,551,660 (2023: $2,551,660) to the Foundation within the year.” — page 23
Leadership, per the charity’s website
- Nadia Gil — Chair of Trustees
- James Newell — Executive Director
Structured financials (annual return, FY ending 31/12/2025)
Trustees
- Nadia Gilchair
- Ciaran Neilan
- Dayna Louise Bordin
- Jhumar Johnson
- Michael Oliver Whitehead
- Qasim Iqbal
- Roxane Tiana Ballew
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £3.1m | £1.6m |
| 31/12/2024 | £1.9m | £2.7m |
| 31/12/2023 | £2.0m | £1.1m |
| 31/12/2022 | £0 | £0 |
Common questions
Is THE GSR FOUNDATION financially healthy?
The accounts state that the charity reported a net movement in funds of $(1,011,110) for the year ended 31 December 2024, resulting in unrestricted reserves of $93,017. The trustees acknowledge that this level of unrestricted reserves is currently below the target set out in their reserves policy, which was established to maintain liquidity given the single source of funding. Per the trustees' report, restoring unrestricted reserves to policy-compliant levels is a key priority for the forthcoming financial year. Its FY2024 accounts were audited by Moore Kingston Smith LLP.