Stonewall was going to be in trouble anyway, even if this project wasn't shelved.
Like many charities, Stonewall will ought to have been preparing for 1 April '25 triple whammy of increases in minimum/living wage (6.7%), increase in employers' NI (from 13.8% to 15%) and the threshold from which it is charged (dropping from £9,100 to £5,000).
[For someone earning £20,000 in 2025-26 their employer will pay. £2,250 in secondary Class 1 NICs. That is an increase of £746 (or nearly 50%). For an employee earning £40,000 in 2025-26 the employer will pay £5,250. This is an increase of £986 (or about 23%). With 114 staff employed last year their wages bill is more than likely increasing by at least £100k (and that is before any staff payrise - a 1% payrise would cost them about £1/2m)].
The £233k grant from the Global Equality fund is restricted (so Stonewall can only use the money to undertake the project, with perhaps a small % to cover central overheads). I don't think I have ever seen a grant that builds in redundancy costs for staff, so these will need to be met from unrestricted funds which dropped from £1,173,514 to £385,118 in the year to 31 March 2024.
Eek