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Goldman Sachs' UK charity donated £19m last year

Oscar Williams-Grut
·Senior City Correspondent, Yahoo Finance UK
Goldman Sachs CEO David Solomon. Photo: Matt Winkelmeyer/Getty Images
Goldman Sachs CEO David Solomon. Photo: Matt Winkelmeyer/Getty Images

Goldman Sachs’ UK charity donated £19.8m to charities spanning the arts, education, humanitarian relief, and sport last year, accounts show.

Accounts filed with Companies House this week show that the investment bank’s UK-based charity, Goldman Sachs Gives, donated £19.8m to various charities in the 12-months to 30 June 2018. The charity made 628 grants in the period.

The biggest grant, worth £2m, went to the University of Cambridge. Goldman also gave half a million pounds to Cambridge in America, which supports the university and its alumni in the United States of America.

Other notable donations made in the period include: a £669,000 for Greenhouse Sports, a London-based charity that helps underprivileged children develop through sport; £477,000 for the Royal Marsden Cancer Charity; £459,000 for the United Kingdom Committee for UNICEF; and £406,000 for New York University.

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Goldman Sachs declined to comment on the details of its donations when contacted by Yahoo Finance UK.

Goldman Sachs Gives UK draws its funds for donation only from within the investment bank. The charity received donations worth £17.8m in the period, with £16.7m coming from Goldman Sachs International and £1m donated by current and former Goldman employees. The charity had reserves of £90.9m at the end of the period, down from £93.3m in 2017.

Goldman Sachs Gives was set up in 2008 and has to date donated over $1.5bn to good causes. It has partnered with 6,000 non-profits across 90 countries. The accounts referenced refer to the activities of the charity’s UK arm only, not its global activities.

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Oscar Williams-Grut covers banking, fintech, and finance for Yahoo Finance UK. Follow him on Twitter at @OscarWGrut.

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