ROYAL OPERA HOUSE COVENT GARDEN FOUNDATION
Presentation of opera and ballet performances at the Royal Opera House Covent Garden and tours in the United Kingdom and overseas
Objects
TO PROMOTE AND ASSIST IN THE ADVANCEMENT OF EDUCATION SO FAR AS SUCH PROMOTION AND ASSISTANCE SHALL BE OF A CHARITABLE NATURE AND IN PARTICULAR, TO RAISE THE ARTISTIC TASTE OF THE COUNTRY, AND TO PROCURE AND INCREASE THE APPRECIATION AND UNDERSTANDING OF THE MUSICAL ART IN ALL ITS FORMS. (SEE MEMORANDUM AND ARTICLES OF ASSOCIATION).
Financial health, per its FY2025 accounts
The accounts state that unrestricted general funds were £4.1m at the period end, equating to only 3% of current unrestricted incoming resources, which the Trustees note is below their target level of £10m. The charity reported a net expenditure on unrestricted funds of £4.3m for the year, driven by significant capital investment and inflationary pressures, though it maintains substantial cash reserves of £108.8m. The Trustees confirm adequate resources to continue as a going concern for at least twelve months, despite facing ongoing challenges from inflation and the need for substantial future building investment.
What the accounts disclose
“During the period the charity received grants of £1.8m (52 week period ended 25 August 2024; £2.3m) from Royal Opera House Endowment Fund 2000 in furtherance of its charitable objectives.” — page 86
“The aggregate amount of unrestricted donations received from trustees was £2.6m (52 week period ended 25 August 2024: £3.2m).” — page 87
“During the period the charity received grants of £1.8m (52 week period ended 25 August 2024; £2.3m) from Royal Opera House Endowment Fund 2000 in furtherance of its charitable objectives.” — page 86
“The aggregate amount of unrestricted donations received from trustees was £2.6m (52 week period ended 25 August 2024: £3.2m).” — page 87
“The charity has two trading subsidiaries — ROH Holdings Limited and Royal Opera House Enterprises Limited.” — page 64
Policies the charity declares
- Bullying and harassment policy and procedures
- Complaints handling
- Complaints policy and procedures
- Conflicting interests
- Financial reserves policy and procedures
- Internal charity financial controls policy and procedures
- Internal risk management policy and procedures
- Investing charity funds policy and procedures
- Investment
- Paying staff
- Risk management
- Safeguarding policy and procedures
- Safeguarding vulnerable beneficiaries
- Serious incident reporting policy and procedures
- Social media policy and procedures
- Trustee conflicts of interest policy and procedures
- Volunteer management
From the charity’s annual return (Part A, self-declared)
Self-declared on the annual return for the financial year ending 25/08/2025
- Volunteers: 183
- Government income: £23,253,542 — grants £23,253,542 (3); 13% of the £182,080,000 total gross income on the same return
- Employees paid over £60,000: 230 (£60,001–£70,000: 101; £70,001–£80,000: 46; £80,001–£90,000: 35; £90,001–£100,000: 11; £100,001–£110,000: 10; £110,001–£120,000: 7; £120,001–£130,000: 2; £130,001–£140,000: 1; £140,001–£150,000: 2; £150,001–£200,000: 11; £200,001–£250,000: 3; £300,001–£350,000: 1)
- Has a trading subsidiary
Self-declared on the annual return for the financial year ending 25/08/2024
- Volunteers: 171
- Government income: £22,937,181 — grants £22,937,181 (3); 13% of the £181,942,000 total gross income on the same return
- Employees paid over £60,000: 207 (£60,001–£70,000: 75; £70,001–£80,000: 51; £80,001–£90,000: 31; £90,001–£100,000: 13; £100,001–£110,000: 11; £110,001–£120,000: 4; £120,001–£130,000: 2; £130,001–£140,000: 3; £150,001–£200,000: 13; £200,001–£250,000: 2; £300,001–£350,000: 1; over £500,000: 1)
- Has a trading subsidiary
Self-declared on the annual return for the financial year ending 27/08/2023
- Volunteers: 153
- Government income: £24,308,823 — grants £24,308,823 (3); 14% of the £170,697,000 total gross income on the same return
- Employees paid over £60,000: 161 (£60,001–£70,000: 70; £70,001–£80,000: 44; £80,001–£90,000: 9; £90,001–£100,000: 10; £100,001–£110,000: 3; £110,001–£120,000: 4; £120,001–£130,000: 3; £130,001–£140,000: 2; £140,001–£150,000: 4; £150,001–£200,000: 9; £200,001–£250,000: 1; £250,001–£300,000: 1; over £500,000: 1)
- Has a trading subsidiary
In the news
- Massenet – Manon – The Royal Ballet – Orchestra of The Royal Opera House with Koen Kessels
- Input tax recovery of theatre production costs: HMRC v Royal Opera House Covent Garden Foundation [2020] UKUT 132 (TCC)
Corporate structure
- Registered company of the charity Companies House 00480523
- Trading subsidiary: ROH HOLDINGS LIMITED Companies House 02580395
- Trading subsidiary: ROYAL OPERA HOUSE ENTERPRISES LIMITED Companies House 04112266
- Turnover: £23.1m
- Profit before tax: £6.1m
- Intra-group loan to parent fully repaid in prior period; current balance sheet shows £1,579k amount due to parent within one year.
- Turnover: £5k
- Profit before tax: £320k
- The company discloses that all intra-group balances are repayable on demand and do not require discounting. Specifically, there are amounts due from The Royal Opera House Endowment Fund 2000 (debtors) and amounts owed to the parent undertaking (creditors).
Company officers (Companies House)
- BULL, Deborah, Baroness on trustee list
- GOLANT, Farah Ramzan on trustee list
- MCCALL, Carolyn Julia, Dame on trustee list
- STANTON, Alan William on trustee list
- SUMMERS, Alistair Gerald on trustee list
- ISON, Daniel Alexander on trustee list
- LUCAS, Stephen on trustee list
- STREETEN, Joanna on trustee list
- FREISE, Philipp Roland on trustee list
- SUSSKIND, Janis Elizabeth on trustee list
- BURGER, Lisa Jane on trustee list
- BRITTON, Caroline Louise on trustee list
- BROWNE OF MADINGLEY, John, Lord not on trustee list
- BADAWI-MALIK, Zeinab Mohammed-Khair on trustee list
- BUNTING, Timothy Brian on trustee list
- DORFMAN, Lloyd Marshall not on trustee list
- HURST, Leah
UK research funding (UKRI Gateway to Research)
Property (HM Land Registry)
Structured financials (annual return, FY ending 25/08/2025)
Register events
- Received assets from another charity (05/05/2023)
- Received assets from another charity (28/10/2015)
Trustees
- Alan Stanton
- Alistair Summers
- Baroness Deborah Bull
- Caroline Louise Britton
- Dame Carolyn McCall
- Daniel Ison
- Esmeralda Devlin
- Farah Golant
- Janis Elizabeth Susskind
- Joanna Streeten
- Lisa Jane Burger
- Lord John Browne
- Philipp Freise
- SIR NICHOLAS HYTNER
- Sir Clive Alderton KCVO
- Sir Lloyd Dorfman CBE
- Stephen Lucas
- TIMOTHY BRIAN BUNTING
- Zeinab Badawi-Malik
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 25/08/2025 | £182.1m | £174.7m |
| 25/08/2024 | £181.9m | £171.9m |
| 27/08/2023 | £170.7m | £154.8m |
| 27/08/2022 | £132.7m | £136.9m |
| 27/08/2021 | £84.3m | £81.9m |
Common questions
Is ROYAL OPERA HOUSE COVENT GARDEN FOUNDATION financially healthy?
Per its FY2025 accounts: The accounts state that unrestricted general funds were £4.1m at the period end, equating to only 3% of current unrestricted incoming resources, which the Trustees note is below their target level of £10m. The charity reported a net expenditure on unrestricted funds of £4.3m for the year, driven by significant capital investment and inflationary pressures, though it maintains substantial cash reserves of £108.8m. The Trustees confirm adequate resources to continue as a going concern for at least twelve months, despite facing ongoing challenges from inflation and the need for substantial future building investment. Its FY2025 accounts were audited by Crowe UK LLP.
Who funds ROYAL OPERA HOUSE COVENT GARDEN FOUNDATION?
Funders whose own accounts filings name ROYAL OPERA HOUSE COVENT GARDEN FOUNDATION as a grant recipient include THE MASTER CHARITABLE TRUST, THE JULIA RAUSING TRUST, GARFIELD WESTON FOUNDATION, THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000, THE MOHN WESTLAKE FOUNDATION.
Shared trustees with funders
- Caroline Louise Britton — trustee here and at THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000
- TIMOTHY BRIAN BUNTING — trustee here and at THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| THE MASTER CHARITABLE TRUST | FY2025 | £10.9m | Advancement of the arts, culture, heritage or science |
| THE JULIA RAUSING TRUST | FY2025 | £7.5m | Annual sponsorship of opera and ballet seasons (2025 - 2027) |
| GARFIELD WESTON FOUNDATION | FY2024 | £5.0m | Arts |
| THE MASTER CHARITABLE TRUST | FY2023 | £4.0m | |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2022 | £3.8m | Exceptional grant for recovery plan (Paul Hamlyn Education Fund) |
| THE MOHN WESTLAKE FOUNDATION | FY2022 | £3.1m | |
| THE MASTER CHARITABLE TRUST | FY2021 | £2.7m | |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2021 | £2.4m | Total grants to ROHCGF as per Statement of Financial Activities and Note 4 |
| THE JULIA RAUSING TRUST | FY2025 | £1.7m | Ballet stage upgrades |
| THE MOHN WESTLAKE FOUNDATION | FY2025 | £1.6m | |
| THE CLORE DUFFIELD FOUNDATION | FY2022 | £1.5m | Arts, heritage and education |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2025 | £1.0m | Core work of artistic companies |
| THE LINBURY TRUST | FY2022 | £1.0m | Towards the operating costs of the Linbury Theatre and post-COVID Recovery work. The first payment of a £2m grant. |
| THE THOMPSON FAMILY CHARITABLE TRUST | FY2023 | Unverified read£1.0m | |
| THE MOHN WESTLAKE FOUNDATION | FY2024 | £1.0m | |
| THE LINBURY TRUST | FY2023 | £1.0m | Towards the operating costs of the Linbury Theatre and post-COVID Recovery work. The second payment of a £2m grant. |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2023 | £833k | Susan Olde Music Director |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2022 | £833k | Susan Olde (Susan A. Olde OBE Music Director Fund) |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2024 | £815k | Core work of artistic companies |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2024 | £767k | Antonio Pappano Gala |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2023 | £706k | Core work of artistic companies |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2022 | £677k | Core work of artistic companies (Main Endowment Fund) |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2022 | £418k | Education projects (Paul Hamlyn Education Fund) |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2024 | £416k | Education projects |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2023 | £415k | Education projects |
| UBS UK Donor-Advised Foundation | FY2021 | £408k | |
| The Gerald and Gail Ronson Family Foundation | FY2025 | £400k | support of their School Matinees Programme |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2025 | £395k | Education projects |
| HUO FAMILY FOUNDATION (UK) LIMITED | FY2022 | £363k | |
| THE BAND TRUST | FY2023 | £350k | Museums and other Art Institutions |
| THE LINBURY TRUST | FY2025 | £340k | A one-off grant to improve the energy efficiency of their heating system and to help prepare for a forthcoming district heating network. |
| The Gerald and Gail Ronson Family Foundation | FY2023 | £305k | Related party transaction |
| The Gerald and Gail Ronson Family Foundation | FY2022 | £300k | Related party transaction |
| THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION | FY2023 | £250k | Advancement of the arts, culture, heritage and science |
| THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION | FY2022 | £250k | |
| THE FOYLE FOUNDATION | FY2023 | £250k | |
| THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION | FY2021 | £250k | Advancement of the arts, culture, heritage and science |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2025 | £201k | Derek Butler Apprentices |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2022 | £170k | Romeo and Juliet (Jean Sainsbury Fund) |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2024 | £170k | Andre Chenier |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2025 | £170k | La Fille Mal Gardée |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2023 | £170k | La Traviata |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2024 | £140k | Derek Butler Apprenticeship |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2022 | £140k | Derek Butler Apprentices (Derek Butler Apprenticeship Fund) |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | FY2023 | £140k | Derek Butler Apprenticeship |
| Laidlaw Opera Trust | FY2024 | £100k | Grant funding of activities |
| THE HEADLEY TRUST | FY2022 | £100k | Arts & Heritage - UK Covid-19 Revenue Support Grants. |
| THE ROAN CHARITABLE TRUST | FY2022 | £100k | Promoting and educating the public in the arts of opera and ballet |
| KARIN BRASS MEMORIAL FUND | FY2025 | £100k | |
| THE THOMPSON FAMILY CHARITABLE TRUST | FY2022 | £100k |
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| UK government | 17/01/2025 | £31k | Investment Funds |
| UK government | 24/01/2024 | £7k | Investment funds |
| UK government | 29/03/2023 | £667k | Business Plan funding |
| UK government | 29/03/2023 | £667k | Business Plan funding |
| UK government | 16/03/2023 | £15k | Investment funds |
| UK government | 20/10/2022 | £22.3m | National Portfolio Organisations |
| UK government | 20/10/2022 | £22.3m | National Portfolio Organisations |
| UK government | 22/03/2022 | £45k | Bridge Expansion |
| UK government | 08/12/2021 | £24.5m | National Portfolio Organisations |
| Calouste Gulbenkian Foundation, UK Branch | 11/03/2014 | £12k | Royal Opera House Covent Garden Foundation |
| The National Lottery Heritage Fund | 14/07/2009 | £25k | "High House Farm" |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE FENTON ARTS TRUST | 1 | £20k |
| ACTING FOR OTHERS | 1 | £13k |
| FRIMLEY FUEL ALLOTMENTS CIO | 1 | £3k |
| DORIS FIELD CHARITABLE TRUST | 1 | £2k |
| THE GOLSONCOTT FOUNDATION | 1 | £2k |
Charities like this
- THE ROYAL OPERA HOUSE BENEVOLENT FUND
- THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000
- BATH OPERA
- COVENT GARDEN CHAMBER ORCHESTRA
- GOTHIC OPERA
- THE FRIENDS OF DORSET OPERA
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| ROYAL OPERA HOUSE COVENT GARDEN FOUNDATION | £182.1m | — | — | unclear | — | no doubt |
| THE ROYAL OPERA HOUSE BENEVOLENT FUND | £132k | — | 0 | unclear | — | no doubt |
| THE ROYAL OPERA HOUSE ENDOWMENT FUND 2000 | £4.1m | — | 0 | unclear | — | no doubt |
| BATH OPERA | £42k | — | 0 | unclear | — | no doubt |
| COVENT GARDEN CHAMBER ORCHESTRA | £24k | — | 0 | above | — | no doubt |
| GOTHIC OPERA | £97k | — | 0 | unclear | — | no doubt |