STEVE ROSS FOUNDATION FOR THE ARTS
Steve Ross Foundation for the Arts is an independent organisation based at Quay Arts in Newport Isle of Wight. Its purposes are the fostering and development of artistic knowledge, practice and understanding for the education of the public in the arts, creative practice and their presentation and development.
Financial health, per its FY2025 accounts
The accounts state that the charity reported a net operating loss of £29,665 for the year, primarily due to a drop in investment income following the end of a council lease. Despite this deficit, the trustees confirm that the charity has achieved its reserves policy target, maintaining free reserves equivalent to at least three months of expenditure. The charity holds unrestricted funds of £1,965,092, providing a significant buffer against the expected continuation of reduced investment income.
What the accounts disclose
“It is the policy of the trustees to maintain and increase funds to provide free reserves equivalent to at least three months expenditure.” — page 6
“N Martin was appointed as a Trustee on 25 February 2025. He is also an artist/tutor, and was paid £700 for teaching life drawing classes between his appointment as a trustee and the year end.” — page 18
“Quay Arts Trading Company Limited (QATC), a wholly owned UK subsidiary of the charity shared facilities with the charity including administrative staff, premises and card processing facilities. Management charges of £60,120 (2024: £60,120) were charged to QATC in the year. QATC donated profits of £64,618, (2024: £48,632) to the charity. As at 31 March 2025 QATC owed £46,910 to the charity.” — page 25
“The charitable company owns 100% of the issued share capital of the Quay Arts Trading Company Limited.” — page 7
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/03/2025)
Trustees
- Andrew Dutton
- Christopher Warleigh-Lack
- Kimberley Margaret Anne Purton
- Lily Blacksell
- Nicholas Martin
- Rob Thompson
- Victoria Anne Spencer
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £506k | £535k |
| 31/03/2024 | £537k | £531k |
| 31/03/2023 | £368k | £438k |
| 31/03/2022 | £342k | £357k |
| 31/03/2021 | £375k | £316k |
Common questions
Is STEVE ROSS FOUNDATION FOR THE ARTS financially healthy?
Per its FY2025 accounts: The accounts state that the charity reported a net operating loss of £29,665 for the year, primarily due to a drop in investment income following the end of a council lease. Despite this deficit, the trustees confirm that the charity has achieved its reserves policy target, maintaining free reserves equivalent to at least three months of expenditure. The charity holds unrestricted funds of £1,965,092, providing a significant buffer against the expected continuation of reduced investment income. Its FY2025 accounts were independently examined.
Who funds STEVE ROSS FOUNDATION FOR THE ARTS?
Funders whose own accounts filings name STEVE ROSS FOUNDATION FOR THE ARTS as a grant recipient include THE DAISIE RICH TRUST.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| THE DAISIE RICH TRUST | FY2025 | £2k |
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| UK government | 13/10/2022 | £150k | National Portfolio Organisations |
| UK government | 13/10/2022 | £150k | National Portfolio Organisations |
| The National Lottery Heritage Fund | 19/01/2010 | £34k | "History of Quay Arts" |