Armed Forces Covenant Fund

Analysis

Armed Forces Covenant Fund is a registered charity in England and Wales, based in Leeds. It was registered in March 2018, 8 years ago. Its declared purposes cover general charitable purposes, education/training, the advancement of health or saving of lives and disability, which this site groups under health and saving lives. Legally it is a charitable trust. It says it makes grants to organisations.

In the financial year ending March 2025, Armed Forces Covenant Fund reported income of £30.9m and spending of £30.0m, spending 97% of its income. Across the 5 years on record, from March 2021 to March 2025, income grew from £26.8m to £30.9m (+15%), an average of +3.6% a year. The sharpest change came in the year to March 2024, when income rose by 129%. Over the whole period it spent 98% of the income it received.

Among 24,651 England and Wales charities whose main cause is health and saving lives and that reported income, Armed Forces Covenant Fund sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in England and Wales with reported income it ranks in the 100th percentile. Charities of a similar size with the same main cause include UK Curriculum and Accreditation Body (Ukcab) (£30.8m), Shell Foundation (£31.0m) and Multiple Sclerosis Society (£30.7m).

In its latest detailed accounts, income came from charitable activities 98% and investments 1.8%. Charitable activities took 100% of spending and raising funds 0.0%. Grants to other organisations totalled £28.4m. Reserves of £664k would cover about 0 months of spending at that rate. It employed 26 people.