The Djanogly Foundation

Objectives

The charity holds an investment fund, managed as an endowment fund, income from which is used in the making of grants. Subject to a minimal level of administrative costs, the objective is that over a period of time, income and grant making expenditure will be in balance. In accordance with the charity's objectives, these grants are to sponsor developments in medicine, education, social welfare and the arts. Grants will also be made to fund projects to relieve distress and to promote the welfare of the aged and the young.

Professional Advisers

Auditors Anthony Alford
Legal Advisers Collyer Bristow

Trustees

Sir Harry Djanogly CBE, Lady Carol Ann Djanogly, Mr Michael Simon Djanogly

Officers

Mr Christopher D Sills (Secretary to the Trust)

Investment Policy

In the year to 5th April 2010, the investment fund generated net income of £205,850 and grants paid amounted to £1,060,994. This financial data represents an adequate measure of the charity’s performance and the Trustees are satisfied that the investment performance and the level of grant making achieved the objectives set for the year. At 5th April 2010, the investment fund amounted to £9,623,768, a level considered by the Trustees to be prudent in relation to the foreseeable future funding commitments that are likely to be made. The Trustees determine investment decisions with the objective of achieving sufficient income and gains to meet the Trustee’s grant making policy. The trustees have established an investment policy of low to medium risk investments that while generating income for grant making will maintain capital appreciation in excess of inflation. The investment fund represents a balanced portfolio of property, equities, bonds, venture capital investments and cash deposit.

Grant Policy

The charity is particularly concerned with the funding of projects that are new and may require a number of years to establish. In such cases the grant making activity will be related to the development phases of these projects. In determining the level of reserves required the trustees take into account the character and timescale of future projects funded through grants. The Djanogly Foundation's aim is to continue to be able to offer these longer term project based grant options and for this reason its policy on reserves is to enable this objective to be achieved. These objectives are continuing and variations of the promotion of particular aspects of the objectives from year to year do not arise. The charity achieves its objectives by receiving and evaluating grant applications.

Future Commitments

No changes to the objectives or operations outlined in this report are anticipated.

General Review

The Djanogly Foundation is constituted under a trust deed dated 26th June 1980. The trustees are responsible for the Governance of the charity and setting the policy framework. The trustees serve until they retire or resign. Vacancies in the forseeable future are not anticipated, but in the event, the existing trustees would be responsible for the appointment and ensuring that the person so appointed possesses the relevant knowledge and experience. The trustees review and manage the operational and financial risks to which the charity is subject.

3 Angel Court
St James's
London
SW1Y QF

Tel: 020 7930 9845
Fax: 020 7930 0690

CC number: 280500

Performance Guide Rankings

investment assets 807 / 1000
investment income 926 / 995
return on investments 836 / 995
investment management costs - / 743
inv mgmt costs as % of inv assets - / 743

inv mgmt costs as % of inv income - / 743
investment property - / 361
income from investment property - / 325
inv property inc as % of investment property - / 225

income from listed investments 554 / 661
income from short-term investments 557 / 726
listed investment inc as % of inv income 186 / 661
short-term investment assets 727 / 988

legacy income - / 226
grants received - / 88
total voluntary income - / 628

grants made 194 / 668
charitable expenditure - / 638
charitable expenditure as % of total expenditure - / 335
support costs - / 230
management & administration fees 634 / 970
audit fee per £m of income 171 / 949

total incoming resources 979 / 1000
total resources expended 573 / 1000
total assets 916 / 1000
period ending 2009 2010
INCOMING RESOURCES £m £m
legacies - -
grants - -
total voluntary income - -
activities, furtherance of charities objects - -
activities for generating funds - -
trading subsidiaries - -
sales and fees from operating activities - -
investment property 0.13 -
dividends 0.22 0.12
fixed income 0.28 0.09
total listed investments 0.51 0.20
income from subsidiaries - -
interest on cash & short term inv 0.02 0.00
total investment income 0.66 0.21
TOTAL INCOMING RESOURCES 0.66 0.21

RESOURCES EXPENDED £m £m
fundraising costs - -
investment management costs - -
investment property repair costs 0.00 -
Investment costs 0.00 -
other costs 0.05 -
cost of generating funds 0.05 -
grants paid 0.82 1.71
management and admin 0.03 0.02
total charitable expenditure 0.85 1.74
TOTAL RESOURCES EXPENDED 0.90 1.74

ASSETS £m £m
intangible assets - -
tangible fixed - -
equities 3.58 7.68
bonds 0.90 -
listed investments 4.48 7.68
investment assets 9.87 11.36
other fixed assets - -
total fixed assets 9.87 11.36
stock - -
debtors 0.00 0.00
cash 0.95 0.53
current assets 0.95 0.53
bank loans & overdrafts - -
trade & other creditors, accruals 0.01 0.01
future grant commitments 0.67 0.80
creditors falling due within one year 0.68 0.81
net current assets 0.28 -
loans - -
future long-term grant commitments 0.94 1.46
trade creditors - -
subsidiary & associated undertakings - -
creditors falling due after one year 0.94 1.46
provisions for liabilities and charges - -
TOTAL ASSETS 9.21 9.62

ASSETS £m £m
income funds 9.21 9.62
endowment funds - -
restricted funds - -
TOTAL FUNDS 9.21 9.62