THE VIRGIN FOUNDATION
Latest income
£21.5m
Latest spending
£18.1m
Registered
1987
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that consolidated unrestricted reserves increased to £11,263,000, with free reserves standing at £5.9 million, which the Trustees judge sufficient to cover six months of total expenditure. The charity reported a net income of £3,404,000 for the year, driven by voluntary income from the Virgin Group and other donors, while grants disbursed totaled £9,190,000.
What the accounts disclose
Highest-paid employee band: £140,001 - £150,000 — above the median for charities its size (£125k)
“Between £140,001 and £150,000” — page 66
Per its FY2024 accounts as filed with the Charity Commission.
Reserves policy: six month’s total expenditure excluding direct discretionary expenditure relating to charitable activities and costs of generating funds (held: £11.3m)
“In the period to 31 December 2024 the Trustees’ policy is that unrestricted funds less the net book value of fixed assets held by the charity that are not committed or designated (“the free reserves”) should be sufficient to cover at least six month’s total expenditure excluding direct discretionary expenditure relating to charitable activities and costs of generating funds.” — page 51
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Virgin Management Limited provided staff, office space, and professional services valued at £3,983,000.
“The value placed on this contribution by the Virgin Group is based upon similar services provided to their Group companies and is valued at £3,983,000 (2023: £4,085,000). Donations in kind are recognised within incoming resources as a donation, and an equivalent charge is included as support costs and re-allocated to the appropriate cost category.” — page 63
“Voluntary income primarily comprises Sir Richard Branson’s speaking fee donations from the Virgin Group of £7,292,000 (2023: £8,777,000), and other voluntary income of £6,887,000 (2023: £6,493,000).”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Virgin Group general donations of £7,292,000.
“The value placed on this contribution by the Virgin Group is based upon similar services provided to their Group companies and is valued at £3,983,000 (2023: £4,085,000). Donations in kind are recognised within incoming resources as a donation, and an equivalent charge is included as support costs and re-allocated to the appropriate cost category.” — page 63
“Voluntary income primarily comprises Sir Richard Branson’s speaking fee donations from the Virgin Group of £7,292,000 (2023: £8,777,000), and other voluntary income of £6,887,000 (2023: £6,493,000).”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Virgin Management Limited paid senior management remuneration of £680,000.
“The value placed on this contribution by the Virgin Group is based upon similar services provided to their Group companies and is valued at £3,983,000 (2023: £4,085,000). Donations in kind are recognised within incoming resources as a donation, and an equivalent charge is included as support costs and re-allocated to the appropriate cost category.” — page 63
“Voluntary income primarily comprises Sir Richard Branson’s speaking fee donations from the Virgin Group of £7,292,000 (2023: £8,777,000), and other voluntary income of £6,887,000 (2023: £6,493,000).”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Virgin Management USA Inc. paid £1,116,000.
“The value placed on this contribution by the Virgin Group is based upon similar services provided to their Group companies and is valued at £3,983,000 (2023: £4,085,000). Donations in kind are recognised within incoming resources as a donation, and an equivalent charge is included as support costs and re-allocated to the appropriate cost category.” — page 63
“Voluntary income primarily comprises Sir Richard Branson’s speaking fee donations from the Virgin Group of £7,292,000 (2023: £8,777,000), and other voluntary income of £6,887,000 (2023: £6,493,000).”
Per its FY2024 accounts as filed with the Charity Commission.
Corporate structure
- Registered company of the charity Companies House 02155645
- Trading subsidiary: VIRGIN UNITE TRADING LIMITED Companies House 03126284
Structured financials (annual return, FY ending 31/12/2024)
Total income
£21.5m
Total spending
£18.1m
Cost of raising funds
£2.9m
Reserves (reported)
£16.7m
Employees
7
Trustees
- Angela Mwanza
- Felix Stellmaszek
- HOLLY KATIE TEMPLEMAN BRANSON
- Ivo Devereux
- Nicola Humphrey
- Shrina Shah
- Tony Hanway
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £21.5m | £18.1m |
| 31/12/2023 | £22.0m | £15.8m |
| 31/12/2022 | £10.2m | £12.2m |
| 31/12/2021 | £11.9m | £12.5m |
| 31/12/2020 | £7.8m | £14.1m |
Common questions
Is THE VIRGIN FOUNDATION financially healthy?
The accounts state that consolidated unrestricted reserves increased to £11,263,000, with free reserves standing at £5.9 million, which the Trustees judge sufficient to cover six months of total expenditure. The charity reported a net income of £3,404,000 for the year, driven by voluntary income from the Virgin Group and other donors, while grants disbursed totaled £9,190,000. Its FY2024 accounts were audited by KPMG LLP.
What does the highest-paid employee of THE VIRGIN FOUNDATION earn?
Per its FY2024 accounts, the highest-paid employee was in the £140,001 - £150,000 band.
Who funds THE VIRGIN FOUNDATION?
Funders whose own accounts filings name THE VIRGIN FOUNDATION as a grant recipient include BIG CHANGE CHARITABLE TRUST.
Known funders
| Funder | Year | Amount |
|---|---|---|
| BIG CHANGE CHARITABLE TRUST | FY2023 | £10k |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| QUADRATURE CLIMATE FOUNDATION | 1 | £1.9m |
| The Ashley Tabor-King Foundation | 1 | £1.1m |
| ANA LEAF FOUNDATION | 1 | £1.0m |
| THE RUMI FOUNDATION | 1 | £550k |
| PETER DUBENS FAMILY FOUNDATION | 1 | £300k |
| THE RUBIN FOUNDATION CHARITABLE TRUST | 1 | £300k |
| IGY FOUNDATION | 1 | £250k |
| The Ethos Foundation | 1 | £200k |