2020 Financial Review
Total income for 2020 amounted to £3.7m million (2019: £5.2 m). Donations from the Asfari family constitute the principal source of income for the Foundation. Over the years, the family has made substantial donations to the Foundation. The Foundation also receives income from its investments.
Total expenditure on charitable activities for 2020 was £3.4 million (2019: £4.4 m). Of this total, £2.8 million (2019: £3.7 million) was spent on grants awarded across the Foundation’s programmes. Support costs to operate the organisation amounted to £0.6 million (2019: £0.7m).
At 2020 year end, the funds of the Foundation were entirely unrestricted and amounted to £15.2million (2019: £16.4 m). During 2020, funds declined by £1.2 million (2019: augmented by £2.0 million) as a surplus of income over expenditure was offset by a net loss on investments.
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