THE NUFFIELD FOUNDATION
Financial health, per its FY2025 accounts
The accounts state that total funds increased to £565 million, with investments valued at £596 million, significantly exceeding long-term targets. The Trustees confirm that cash and gilt holdings are double the requirement to meet forecast outflows, ensuring sufficient reserves to continue as a going concern. The unrestricted general fund is reported as £9.6 million, though the charity's policy is not to maintain a general unrestricted reserve.
What the accounts disclose
“As such it is the Foundation’s policy not to maintain an unrestricted general reserve and so we expect the unrestricted general fund to be negative at times.”
“During the year, Trustees received £11,000 (2024: £11,000) and the chairman received £17,703 (2024: £17,703), with the total paid to active Trustees during 2025 of £84,000. In addition, Trustee Indemnity Insurance was purchased during the year.”
“The company has made a Gift Aid donation to the Foundation of £94k (2024: £215k). This payment is outstanding at the year end.”
“During 2025, costs associated with the Fellowship came to £9k (2024: £2k), and income was received of £16k (2024: £18k). These are included in the SOFA and the expenses are included in the table above.”
“The company has made a Gift Aid donation to the Foundation of £94k (2024: £215k). This payment is outstanding at the year end.”
“During 2025, costs associated with the Fellowship came to £9k (2024: £2k), and income was received of £16k (2024: £18k). These are included in the SOFA and the expenses are included in the table above.”
“In 2021 we set up a wholly owned subsidiary, Nuffield Foundation Education Ltd, as a ‘special purpose vehicle’ for the management of the grant from the Department for Education to roll out the Nuffield Early Language Intervention.”
Year-over-year changes
- Reserves position vs the charity's own policy moved from "below" (FY2024) to "above" (FY2025).
Leadership, per the charity’s website
- Professor Sir Keith Burnett CBE, FRS, FInstPhys, FLSW — Chair
- Gavin Kelly — Chief Executive
- Nicola Webb — Executive Director, Strategy, Governance and Engagement
- Josh Hillman — Director, Education
- Rob Street — Director, Justice
- Mark Franks — Director, Welfare
- Deirdre Carty — Director, HR and Office Services
- Natalie Leon — Director, Finance and Information Systems
Structured financials (annual return, FY ending 31/12/2025)
Trustees
- Professor Keith Burnettchair
- Dame Clare Tickell
- John James Pullinger CB
- Professor Ann Alison Phoenix
- Professor Ash Amin CBE
- Professor Brian David Bell
- Professor Lorraine Margaret Dearden
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £14.3m | £33.7m |
| 31/12/2024 | £12.4m | £29.8m |
| 31/12/2023 | £8.5m | £23.1m |
| 31/12/2022 | £5.4m | £24.9m |
| 31/12/2021 | £11.7m | £30.1m |
Common questions
Is THE NUFFIELD FOUNDATION financially healthy?
The accounts state that total funds increased to £565 million, with investments valued at £596 million, significantly exceeding long-term targets. The Trustees confirm that cash and gilt holdings are double the requirement to meet forecast outflows, ensuring sufficient reserves to continue as a going concern. The unrestricted general fund is reported as £9.6 million, though the charity's policy is not to maintain a general unrestricted reserve. Its FY2025 accounts were audited by Crowe U.K. LLP.
Who funds THE NUFFIELD FOUNDATION?
Funders whose own accounts filings name THE NUFFIELD FOUNDATION as a grant recipient include THE HEALTH FOUNDATION.
Known funders
| Funder | Year | Amount |
|---|---|---|
| THE HEALTH FOUNDATION | FY2023 | £13k |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE YOUTH ENDOWMENT FUND CHARITABLE TRUST | 1 | £2.2m |
| IMPETUS - THE PRIVATE EQUITY FOUNDATION | 1 | £674k |
| THE SPECTRIS FOUNDATION | 1 | £200k |
| THE APAX FOUNDATION | 1 | £81k |
| KUSUMA TRUST UK | 1 | £77k |
| CORAM LIFE EDUCATION | 1 | £22k |