Register of Charities - The Charity Commission NOVA NEW OPPORTUNITIES
Activities - how the charity spends its money
NOVA, based in North Kensington, serves its poorest wards and those of surrounding London boroughs with on and off-site IT, numeracy, literacy and ESOL courses with integrated pre-employment advice, guidance, workshops, drop-ins and follow-up for the hardest to reach and unskilled gain the confidence and skills to move towards sustained work, further training and independence.
Income and expenditure
Data for financial year ending 31 March 2023
Total income:
£591,936
| Donations and legacies | £21.90k | |
| Charitable activities | £541.32k | |
| Other trading activities | £28.72k | |
| Investments | £0 | |
| Other | £0 |
Total expenditure:
£603,699
| Raising funds | £30.11k | |
| Charitable activities | £573.59k | |
| Other | £0 |
£0 investments gains (losses)
Total income includes £130,115 from 1 government contract(s) and £10,000 from 1 government grant(s)
Charitable expenditure
Charitable expenditure with investment gains
Charitable expenditure
Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.
In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.
Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.
By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.
| Income generation and governance | £30.11k | |
| Charitable expenditure | £573.59k |
People
14 Employee(s)
7 Trustee(s)
30 Volunteer(s)
Employees with total benefits over £60,000
| Number of employees | |
|---|---|
| £60k to £70k | 1 |